Wuhan Citms Technology (SH:688038)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥27,448,165.74, representing a decrease of 56.11% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥6,922,438.57, reflecting a decline of 233.55% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥7,777,743.67, down 268.51% from the previous year[5]. - The basic earnings per share for the period was -¥0.06, indicating a decrease of 200.00% compared to the same period last year[6]. - The company reported a net loss for Q1 2022, with total operating income not covering total operating costs[18]. - The company's net profit for Q1 2022 was -6,922,438.57 CNY, compared to a net profit of 5,183,500.39 CNY in Q1 2021, indicating a significant decline[19]. - Operating profit for Q1 2022 was -8,701,566.92 CNY, while in Q1 2021, it was 5,734,564.91 CNY, reflecting a substantial decrease in operational performance[19]. - Total revenue from sales and services received in Q1 2022 was 42,383,068.09 CNY, down from 84,232,173.36 CNY in Q1 2021, representing a decline of approximately 49.7%[23]. - The basic and diluted earnings per share for Q1 2022 were both -0.06 CNY, compared to 0.06 CNY in Q1 2021, reflecting a negative shift in earnings performance[20]. Expenses and Costs - Research and development expenses totaled ¥7,974,852.58, accounting for 29.05% of operating revenue, an increase from 18.69% year-over-year[6]. - The increase in net profit loss was attributed to decreased sales revenue and increased R&D expenses[8]. - Total operating costs for Q1 2022 were CNY 38,166,043.69, down from CNY 58,493,047.97 in Q1 2021, representing a decrease of 34.8%[18]. - The total operating expenses in Q1 2022 were 73,000,000.00 CNY, compared to 56,000,000.00 CNY in Q1 2021, indicating an increase of approximately 30.4%[19]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,111,225,945.23, down 7.50% from the end of the previous year[6]. - The equity attributable to shareholders was ¥733,622,253.39, a decrease of 0.91% compared to the previous year[6]. - Cash and cash equivalents decreased to CNY 38,949,233.91 from CNY 134,171,294.76, a decline of 71.0%[14]. - Accounts receivable slightly decreased to CNY 341,385,706.22 from CNY 344,781,576.02, a reduction of 1.3%[14]. - Total liabilities decreased to CNY 377,603,691.84 from CNY 461,023,076.50, a decline of 18.1%[16]. - Non-current liabilities decreased to CNY 37,649,482.26 from CNY 53,901,250.75, a reduction of 30.2%[16]. - The company's equity attributable to shareholders decreased to CNY 733,622,253.39 from CNY 740,355,179.44, a decline of 0.9%[16]. - Inventory increased to CNY 33,681,297.21 from CNY 27,992,762.04, an increase of 20.4%[14]. Cash Flow - The company reported a net cash flow from operating activities of -¥59,978,693.69, which is not applicable for year-over-year comparison[5]. - The net cash flow from operating activities in Q1 2022 was -59,978,693.69 CNY, compared to -57,143,668.18 CNY in Q1 2021, indicating worsening cash flow conditions[23]. - Investment cash inflow for Q1 2022 was 173,128,998.77 CNY, significantly higher than 79,205,318.56 CNY in Q1 2021, showing a strong increase of approximately 118%[24]. - The net cash flow from investing activities in Q1 2022 was 8,494,376.78 CNY, down from 26,065,217.97 CNY in Q1 2021, indicating a decrease in investment returns[24]. - Cash and cash equivalents at the end of Q1 2022 were 31,416,264.76 CNY, a decrease from 89,443,908.31 CNY at the end of Q1 2021, reflecting a decline of approximately 64.8%[24]. Impact of External Factors - The decline in operating revenue was primarily due to the impact of recurring national pandemic restrictions affecting project delivery and acceptance[8].