Primeton(SH:688118)2022-04-20 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥49,388,523.49, representing a year-on-year increase of 26.47%[5]. - Total revenue for Q1 2022 was CNY 49,388,523.49, an increase of 26.4% compared to CNY 39,050,885.13 in Q1 2021[24]. - The net loss attributable to shareholders was ¥20,618,261.36, with a basic and diluted earnings per share of -¥0.224[5][6]. - Net loss for Q1 2022 was CNY -20,618,261.36, compared to a net loss of CNY -9,954,157.34 in Q1 2021, representing a 107.0% increase in losses[25]. - Basic and diluted earnings per share for Q1 2022 were both CNY -0.224, compared to CNY -0.104 in Q1 2021[26]. - The net profit for Q1 2022 was a loss of CNY 10,704,686.16, compared to a loss of CNY 3,623,435.02 in Q1 2021, indicating a significant decline in profitability[33]. Expenses and Costs - Research and development expenses totaled ¥18,186,799.07, accounting for 36.82% of operating revenue, an increase of 4.36 percentage points year-on-year[6]. - Total operating costs for Q1 2022 were CNY 79,051,901.88, up 36.0% from CNY 58,135,367.65 in Q1 2021[24]. - The company incurred total operating costs of CNY 33,993,767.25 in Q1 2022, up from CNY 20,058,307.13 in Q1 2021, reflecting a 69.5% increase[32]. - The company's cash outflow for employee compensation increased to CNY 103,421,040.46 in Q1 2022, compared to CNY 79,765,627.26 in Q1 2021, reflecting a 29.7% increase[28]. - The cash outflow for taxes paid rose to CNY 22,475,417.41 in Q1 2022, up from CNY 18,291,438.47 in Q1 2021, indicating a 23.9% increase[28]. Cash Flow and Assets - The net cash flow from operating activities was -¥76,947,558.61, primarily due to increased personnel costs[5][10]. - The company's cash and cash equivalents amounted to RMB 244.65 million, a decrease from RMB 549.93 million at the end of 2021[21]. - The total cash and cash equivalents at the end of Q1 2022 were CNY 241,272,507.50, a decrease from CNY 409,947,581.75 at the end of Q1 2021[28]. - The company's total assets as of March 31, 2022, were CNY 1,083,626,309.10, down from CNY 1,151,033,275.96 at the end of 2021[31]. - The total liabilities decreased to CNY 175,459,510.89 from CNY 220,531,095.77 in the previous year[31]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,270[12]. - The largest shareholder, Liu Yadong, held 23.87% of the shares, totaling 22,771,802 shares[12]. - The company completed the second phase of share repurchase, acquiring 2,152,426 shares, representing 2.26% of the total share capital of 95,400,000 shares, with a total expenditure of approximately RMB 50.27 million[16]. - The company reported a total of 3,582,387 shares in its repurchase account, accounting for 3.76% of the total share capital[16]. Operational Challenges - The company faced operational challenges due to the COVID-19 situation in Shanghai, impacting project execution and revenue recognition[10]. - The company is closely monitoring the impact of COVID-19 on its operations, particularly in the Shanghai region, which may affect project timelines and budgets[19]. Incentive Plans - The company plans to use the repurchased shares for employee stock ownership plans or equity incentives, with a total repurchase budget between RMB 50 million and RMB 70 million[15]. - The company aims to attract and retain talent through its incentive mechanisms, which include granting restricted stock to key employees[17]. - The company has adjusted the grant price for its 2021 restricted stock incentive plan from RMB 21.00 to RMB 20.70 per share[18].