Kings(SH:603505)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was RMB 147,226,527.99, a decrease of 12.76% compared to the same period last year[4] - Net profit attributable to shareholders was RMB 32,582,829.99, down 23.00% year-on-year[4] - Total operating revenue for Q1 2022 was CNY 147,226,527.99, a decrease of 12.74% compared to CNY 168,765,098.75 in Q1 2021[26] - Net profit for Q1 2022 was CNY 33,058,669.86, representing a decline of 24.06% from CNY 43,449,180.62 in Q1 2021[28] - Total profit for Q1 2022 was CNY 39,751,554.31, down 21.16% from CNY 50,450,165.08 in Q1 2021[28] - Basic earnings per share for Q1 2022 were CNY 0.11, down from CNY 0.14 in Q1 2021[28] Cash Flow - The net cash flow from operating activities was RMB 21,138,294.80, a significant decline of 74.27% compared to the previous year[4] - Cash flow from operating activities for Q1 2022 was CNY 21,138,294.80, a significant decrease of 74.32% compared to CNY 82,166,117.32 in Q1 2021[29] - Cash inflow from operating activities totaled CNY 247,395,717.82 in Q1 2022, compared to CNY 231,189,076.91 in Q1 2021, an increase of 7.09%[29] - Cash outflow from operating activities was CNY 226,257,423.02 in Q1 2022, up from CNY 149,022,959.59 in Q1 2021, indicating a rise of 51.77%[29] - The net cash flow from investing activities was -127,650,736.83 CNY, compared to -51,027,838.31 CNY in the previous period[30] - The cash inflow from financing activities totaled 170,000,000.00 CNY, an increase from 45,500,000.00 CNY year-over-year[30] - The net cash flow from financing activities was 44,366,138.76 CNY, up from 8,248,399.60 CNY in the previous period[30] - The company experienced a net decrease in cash and cash equivalents of -62,191,750.41 CNY, contrasting with an increase of 39,381,224.32 CNY in the previous period[30] Assets and Liabilities - The total assets at the end of the reporting period were RMB 2,194,465,156.67, showing a slight decrease of 0.02%[6] - The company's total current assets as of March 31, 2022, amounted to 732,415,910.86 RMB, a decrease from 799,433,782.62 RMB at the end of 2021[22] - The company's cash and cash equivalents decreased to 226,390,069.97 RMB from 290,470,292.32 RMB at the end of 2021[22] - Accounts receivable decreased to 105,834,892.56 RMB from 161,587,539.19 RMB at the end of 2021[22] - Inventory increased to 149,022,785.48 RMB from 105,430,341.20 RMB at the end of 2021[24] - The company's total liabilities increased to 898,030,355.99 RMB from 845,774,407.81 RMB at the end of 2021[25] - The company's long-term borrowings increased to 181,269,421.57 RMB from 124,005,573.07 RMB at the end of 2021[25] - The company's retained earnings as of March 31, 2022, were 906,445,918.04 RMB, up from 873,863,088.05 RMB at the end of 2021[25] Production and Sales - The company sold approximately 70,000 tons of fluorite products, a decrease of about 13% year-on-year[6] - The average selling price of fluorite powder decreased by RMB 67 per ton (including tax) compared to the same period last year[6] - The company produced approximately 80,000 tons of fluorite products during the reporting period, an increase of 21.5% year-on-year[13] - The company has increased its trade procurement of fluorite products, purchasing at a price of RMB 2,390 per ton (including tax)[13] - The company exported 3,700 tons of high-grade fluorite ore, an increase of 3,300 tons compared to the same period last year, with an export average price of 2,355 RMB/ton, which is nearly 300 RMB/ton higher than the domestic sales average during the same period[18] - The company signed new export orders for 3,000 tons of fluorite powder in April 2022, indicating a significant increase in overseas inquiries[18] Research and Development - Research and development expenses increased to CNY 4,285,842.53 in Q1 2022, up from CNY 1,236,788.59 in Q1 2021, marking a growth of 246.36%[26] Other Financial Metrics - The weighted average return on equity was 2.59%, a decrease of 1.24 percentage points compared to the previous year[4] - Total operating costs for Q1 2022 were CNY 110,724,575.86, down 6.43% from CNY 118,238,021.68 in Q1 2021[26] - Total liabilities and equity as of the end of Q1 2022 were CNY 2,194,465,156.67, slightly down from CNY 2,194,849,034.83 at the end of Q1 2021[26] Accounting Standards - The company did not apply the new accounting standards for the first time in 2022[30]