JSNE(SH:603693)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥535,318,288.08, a decrease of 1.09% compared to ¥539,042,149.05 in the same period last year[6] - Net profit attributable to shareholders was ¥127,940,169.83, representing a decline of 36.38% from ¥199,150,010.52 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥126,735,004.64, down 35.17% from ¥193,529,950.91 in the previous year[6] - The basic earnings per share decreased by 42.42% to ¥0.19 from ¥0.32 in the same period last year[9] - The decline in net profit was attributed to lower wind resource availability and increased costs in biomass fuel procurement due to the pandemic[15] - In Q1 2022, the company generated a total electricity output of 849 million kWh, a decrease of 10.30% year-on-year, and grid-connected electricity of 820 million kWh, down 9.82% year-on-year[21] - The decline in performance was primarily due to poor wind resources, with onshore wind power generation dropping by 28.39% compared to the same period last year[21] - Total revenue for Q1 2022 was CNY 535,318,288.08, a decrease of 1.3% from CNY 541,215,067.34 in Q1 2021[29] - Operating profit for Q1 2022 was CNY 187,820,762.82, down 30.6% from CNY 270,834,172.96 in Q1 2021[33] - Net profit for Q1 2022 was CNY 160,246,302.03, a decrease of 32.0% compared to CNY 235,562,252.75 in Q1 2021[33] - Total comprehensive income for the first quarter of 2022 was CNY 160,250,056.54, a decrease of 31.8% compared to CNY 235,019,423.64 in the first quarter of 2021[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥15,989,998,522.83, an increase of 1.16% from ¥15,804,483,650.40 at the end of the previous year[9] - Current liabilities decreased to CNY 2,482,814,674.19 from CNY 2,952,799,204.73, a reduction of 15.9%[29] - Long-term borrowings rose to CNY 3,630,306,157.53 from CNY 3,157,174,032.08, an increase of 15.0%[29] - The company's total equity rose to CNY 4,671,906,209.62, an increase from CNY 4,644,144,746.46, indicating a growth of about 0.6%[45] - The total liabilities remained stable at CNY 8,868,081.89, compared to CNY 9,140,284.21 in the previous year, indicating a decrease of about 2.97%[43] Cash Flow - The net cash flow from operating activities was ¥157,409,104.25, a decrease of 17.43% compared to ¥190,644,000.67 in the previous year[9] - Cash outflow from operating activities totaled CNY 208,715,191.40, an increase of 9.5% compared to CNY 190,431,667.31 in the first quarter of 2021[38] - Cash and cash equivalents at the end of the period amounted to CNY 1,219,487,737.21, an increase from CNY 1,056,163,184.32 at the end of 2021[40] - The company reported cash outflows for the acquisition of fixed assets and other long-term assets totaling $1,495,886.00, a significant increase from $27,000.00 previously[48] - The net increase in cash and cash equivalents for the period was -$18,190,919.18, compared to -$142,134,356.39 in the previous period, suggesting improved cash management[48] Shareholder Information - The company had a total of 35,743 common shareholders at the end of the reporting period[16] - Jiangsu Guoxin Group Co., Ltd. held 57.27% of the shares, making it the largest shareholder[16] - The company plans to implement a share buyback program with a total investment of no less than 250 million RMB and no more than 500 million RMB, starting from April 26, 2022[22] - The company’s major shareholder, Jiangsu Guoxin Group, has a plan to increase its stake in the company, which may positively influence market confidence[22] Operational Challenges - The company reported an increase in operating costs for biomass projects due to high fuel prices and difficulties in procurement, leading to reduced revenue and profit from these projects[21] - The company has four biomass projects, with one currently suspended due to the exhaustion of reasonable utilization hours, impacting overall project profitability[21] - The company’s stock performance and market trends will be closely monitored as it navigates through the challenges posed by fluctuating wind resources and rising fuel costs[21] Research and Development - Research and development expenses for Q1 2022 were CNY 44,938.32, significantly lower than CNY 507,295.62 in Q1 2021[33] - Research and development expenses for Q1 2022 were CNY 44,938.32, a decrease from CNY 507,295.62 in Q1 2021, showing a reduction of approximately 91.16%[45] Investment Income - The company reported investment income of CNY 24,752,000.00 in Q1 2022, compared to CNY 91,038.35 in Q1 2021[33] - The company reported investment income of CNY 38,179,830.46 for Q1 2022, significantly higher than CNY 11,850,062.18 in Q1 2021, marking an increase of approximately 221.5%[45] Accounting Standards - The company is adapting to new accounting standards starting from 2022, which may impact future financial reporting[50]