AA Belt(SH:603580)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥37,299,586.36, representing a decrease of 16.12% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥294,838.36, with a diluted earnings per share of -¥0.0023[5][6]. - The total comprehensive income for Q1 2022 was -566,747.88, compared to 3,931,072.58 in Q1 2021, indicating a significant decline[19]. - Net profit for Q1 2022 was a loss of ¥491,199.82, compared to a profit of ¥4,195,366.22 in Q1 2021[18]. - The net cash flow from operating activities for Q1 2022 was ¥571,183.93, a decrease of 94.9% from ¥11,228,934.60 in Q1 2021[29]. - The total comprehensive income for Q1 2022 was also a loss of ¥40,397.38, mirroring the net profit loss[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥538,175,416.44, a decrease of 2.11% from the end of the previous year[6]. - The company's total assets decreased to ¥538,175,416.44 in Q1 2022 from ¥549,775,026.45 in Q1 2021, a decline of 2.9%[15]. - Total liabilities decreased to ¥58,666,175.62 in Q1 2022 from ¥69,699,037.75 in Q1 2021, a reduction of 15.8%[14]. - The total liabilities amounted to ¥35,496,739.71, while total equity was ¥410,477,233.11, reflecting a stable capital structure despite the operational losses[26]. - Current liabilities decreased to 34,661,082.39 from 51,913,746.45 at the end of 2021, indicating improved liquidity[25]. Cash Flow - The net cash flow from operating activities was ¥9,113,263.60, down by 3.34% year-on-year[5]. - Cash inflows from operating activities totaled 51,342,219.67, a decrease of 6.8% from 54,584,512.59 in Q1 2021[22]. - Cash outflows from operating activities were 42,228,956.07, down from 45,156,760.23 in Q1 2021, resulting in a net cash flow from operating activities of 9,113,263.60[22]. - The company reported a net cash flow from investing activities of -28,405,159.07, compared to -63,502,424.71 in Q1 2021, showing an improvement[22]. - The company's cash and cash equivalents decreased by 22.48%, primarily due to payments for construction and equipment in Anhui[7]. Research and Development - Research and development expenses for Q1 2022 were ¥1,990,696.98, slightly down from ¥2,041,050.14 in Q1 2021[17]. - The company incurred research and development expenses of ¥990,306.58 in Q1 2022, slightly up from ¥927,882.54 in Q1 2021, indicating continued investment in innovation[27]. - The company plans to continue focusing on R&D and market expansion despite the current financial challenges, as indicated by the sustained R&D expenditure[27]. Inventory and Receivables - Accounts receivable decreased by 22.49%, mainly due to the recovery of receivables during the period[7]. - The company’s inventory increased to 18,281,202.29 from 17,132,217.40, reflecting a 6.7% rise year-over-year[24]. Other Notable Points - The company did not report any new product developments or market expansion strategies during this quarter[11]. - There were no significant mergers or acquisitions reported in the current quarter[11]. - The company's cash and cash equivalents decreased to ¥240,511,210.38 in Q1 2022 from ¥269,764,852.46 in Q1 2021, a decline of 10.9%[15]. - The company's long-term equity investments remained stable at 310,797,386.74, unchanged from the previous period[25]. - The company's contract liabilities increased to ¥3,796,882.05 in Q1 2022 from ¥2,736,001.84 in Q1 2021, an increase of 38.7%[14]. - The weighted average return on net assets was -0.06%, a decrease of 1.03 percentage points compared to the previous year[6].