Huati Tech(SH:603679)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥74,091,057.34, representing a decrease of 49.66% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥6,984,734.48, a significant decline from a profit of ¥24,027,872.76 in the same period last year[9]. - The net cash flow from operating activities was -¥9,081,192.72, down from ¥70,280,340.26 in the previous year, indicating a decrease due to reduced sales collections[10]. - Basic earnings per share for the period were -¥0.0492, compared to ¥0.1715 in the same period last year[10]. - The company reported a net loss for Q1 2022, with total operating costs exceeding total operating revenue[20]. - The net profit for Q1 2022 was -7,269,693.05 RMB, compared to a net profit of 23,952,265.07 RMB in Q1 2021, representing a significant decline[21]. - The total operating profit for Q1 2022 was -7,518,115.14 RMB, while in Q1 2021, it was 26,650,742.90 RMB, indicating a drastic drop in profitability[21]. - The company reported a basic earnings per share of -0.0492 RMB for Q1 2022, compared to 0.1715 RMB in Q1 2021, indicating a negative shift in earnings per share[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,300,969,091.74, down 8.11% from ¥1,415,863,473.12 at the end of the previous year[6]. - Total assets as of March 31, 2022, were CNY 1,300,969,091.74, down from CNY 1,415,863,473.12 as of December 31, 2021[18]. - Total liabilities decreased to CNY 582,827,923.20 from CNY 691,247,567.35, a reduction of 15.7%[18]. - The total equity attributable to shareholders decreased by 0.87% to ¥701,895,141.77 from ¥708,084,920.43 at the end of the previous year[6]. - Total equity as of March 31, 2022, was CNY 718,141,168.54, down from CNY 724,615,905.77[18]. Cash Flow and Investments - The company's cash flow from operating activities for Q1 2022 was -9,081,192.72 RMB, down from 70,280,340.26 RMB in Q1 2021, reflecting a negative cash flow situation[24]. - The total cash inflow from investment activities in Q1 2022 was 20,147,313.18 RMB, while cash outflow was 9,299,161.94 RMB, resulting in a net cash flow of 10,848,151.24 RMB[24]. - Cash and cash equivalents as of March 31, 2022, were CNY 204,557,363.21, a decrease from CNY 244,532,423.20 as of December 31, 2021[16]. - The total cash and cash equivalents at the end of Q1 2022 were 181,576,012.54 RMB, down from 239,430,091.71 RMB at the end of Q1 2021, reflecting a decrease of approximately 24.2%[25]. Operational Performance - The company experienced a significant drop in revenue due to project delays and suspensions caused by the pandemic[9]. - Sales revenue from goods and services received in Q1 2022 was 153,686,837.02 RMB, compared to 196,197,277.79 RMB in Q1 2021, showing a decrease of approximately 21.6%[23]. - The total operating costs for Q1 2022 were CNY 86,076,465.33, down from CNY 134,928,465.06 in Q1 2021, reflecting a reduction of 36.1%[20]. - The total operating expenses for Q1 2022 were 184,683,841.67 RMB, compared to 138,111,685.96 RMB in Q1 2021, indicating an increase in operational costs[24]. Other Financial Metrics - The weighted average return on net assets was -0.99%, a decline from 3.06% in the same period last year[10]. - Non-recurring gains and losses included government subsidies of ¥120,562.43 and other non-operating income of ¥1,086,230.64, net of tax effects[7][9]. - The company incurred interest expenses of 2,808,044.57 RMB in Q1 2022, compared to 3,629,678.77 RMB in Q1 2021, showing a reduction in interest costs[21]. - The company reported a decrease in minority shareholders' losses from -284,958.57 RMB in Q1 2022 to -75,607.69 RMB in Q1 2021, suggesting an improvement in minority interest performance[22]. - The company is focusing on cost reduction strategies to improve financial performance in the upcoming quarters[19].