Springsnow Food (SH:605567)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 486,113,249.89, representing a 10.00% increase compared to CNY 441,910,432.17 in the same period last year[5] - The net profit attributable to shareholders decreased by 55.62% to CNY 11,777,093.22 from CNY 26,538,830.58 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 61.75% to CNY 9,545,797.93 from CNY 24,953,855.08 in the previous year[6] - The basic and diluted earnings per share decreased by 66.67% to CNY 0.06 from CNY 0.18 in the same period last year[6] - Net profit for Q1 2022 was CNY 11.78 million, a decrease of 55.7% from CNY 26.54 million in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -54,347,849.22, an improvement of 10.36% compared to CNY -60,630,297.99 in the previous year[6] - Cash flow from operating activities for Q1 2022 showed a net outflow of CNY 54.35 million, compared to a net outflow of CNY 60.63 million in Q1 2021[24] - Cash and cash equivalents at the end of Q1 2022 were CNY 356.85 million, down from CNY 417.50 million at the beginning of the period[25] - The company's cash and cash equivalents decreased to RMB 407,051,033.24 from RMB 474,447,159.45 year-over-year[15] Assets and Liabilities - Total assets increased by 3.33% to CNY 1,648,386,583.55 from CNY 1,595,325,899.94 at the end of the previous year[6] - The company's total equity increased to RMB 1,102,167,433.16 from RMB 1,090,390,339.94, representing a growth of approximately 1%[17] - The company reported a short-term loan of RMB 215,207,166.76, up from RMB 184,221,500.11, indicating an increase of about 17%[16] - The non-current liabilities totaled RMB 60,768,401.64, up from RMB 24,301,901.87, marking a significant increase[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,823[12] - Shareholders' equity attributable to the parent company rose by 1.08% to CNY 1,102,167,433.16 from CNY 1,090,390,339.94 at the end of the previous year[6] Operational Costs - Total operating costs for Q1 2022 were CNY 470.61 million, up from CNY 411.86 million in Q1 2021, representing a 14.3% increase[20] - The decline in net profit was primarily attributed to the continuous drop in pork prices and the increase in prices of raw materials such as soybean meal[10] Inventory and Receivables - Accounts receivable increased significantly to RMB 115,732,746.16 from RMB 78,777,989.92, indicating a growth of approximately 47%[15] - Inventory decreased to RMB 259,637,712.78 from RMB 286,031,046.63, reflecting a decline of about 9%[15] Tax and Investment Activities - The company experienced a decrease in tax payments, totaling CNY 9.72 million in Q1 2022, down from CNY 11.61 million in Q1 2021[24] - Investment activities resulted in a net cash outflow of CNY 97.77 million in Q1 2022, compared to CNY 7.85 million in Q1 2021[24] Financing Activities - Financing activities generated a net cash inflow of CNY 91.48 million in Q1 2022, compared to CNY 25.45 million in Q1 2021[24] Retained Earnings - The company’s retained earnings rose to RMB 274,795,999.77 from RMB 263,018,906.55, reflecting an increase of approximately 4%[17] Product Development - The company has not provided any new product or technology development updates in the current report[14]