Weigao Orthopaedic(SH:688161)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥339,787,138.24, representing a decrease of 19.31% compared to the same period last year[6]. - The net profit attributable to shareholders for Q1 2022 was ¥97,884,290.18, down 11.99% year-on-year[6]. - The basic earnings per share for Q1 2022 was ¥0.24, reflecting a decline of 22.58% compared to the previous year[6]. - The weighted average return on equity was 2.14%, a decrease of 2.29 percentage points from the previous year[6]. - The company's net profit for the current period is CNY 97,839,105.81, a decrease of 12.1% compared to CNY 111,438,989.98 in the previous period[23]. - Operating profit for the current period is CNY 113,975,894.14, down 12.2% from CNY 129,805,878.02 in the previous period[23]. - The total revenue from sales of goods and services received cash of CNY 452,337,106.36, an increase of 4.9% compared to CNY 432,096,414.51 in the previous period[25]. - The basic earnings per share decreased to CNY 0.24 from CNY 0.31, reflecting a decline of 22.6%[25]. Cash Flow and Assets - The net cash flow from operating activities increased by 84.56% to ¥117,419,230.70, primarily due to a reduction in payments for imported raw materials[6][8]. - Cash and cash equivalents as of March 31, 2022, amounted to RMB 2,661,766,876.36, an increase of 4.0% from RMB 2,559,516,190.32 at the end of 2021[17]. - The cash and cash equivalents at the end of the period reached CNY 2,661,766,876.36, up from CNY 1,652,855,224.62, indicating a growth of 61.6%[27]. - The company experienced a net increase in cash and cash equivalents of CNY 102,250,686.04, compared to CNY 51,479,034.04 in the previous period, indicating a positive cash flow trend[27]. - The total assets at the end of the reporting period were ¥5,500,016,576.82, an increase of 1.79% from the end of the previous year[8]. - Total assets as of March 31, 2022, were RMB 5,500,016,576.82, compared to RMB 5,403,274,095.25 at the end of 2021, marking an increase of 1.8%[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,932[9]. - The largest shareholder, Shandong Weigao Group Medical Polymer Company, held 50.63% of the shares[11]. Research and Development - The company's R&D investment totaled ¥18,820,083.16, a decrease of 22.15% year-on-year, with R&D expenses accounting for 5.54% of operating revenue, down 0.20 percentage points[6][8]. - Research and development expenses decreased to CNY 18,820,083.16 from CNY 24,176,004.26, reflecting a reduction of 22.1%[23]. Operational Challenges - The company faced supply chain disruptions due to COVID-19 restrictions in March 2022, impacting product availability[15]. - The company resumed normal operations in early April 2022 after the local COVID-19 situation was brought under control[15]. - The company is actively participating in volume-based procurement initiatives across multiple provinces, which began implementation in March 2022[15]. Financial Adjustments and Compliance - The company announced the implementation of new accounting standards starting from 2022[29]. - The financial statements for the year of first-time application were adjusted accordingly[29]. - The announcement was made by the board of directors on April 29, 2022[29]. - The accounting work is overseen by Xin Wenzhi, who is also the head of the accounting institution[29]. - Gong Jianbo is the company leader responsible for the announcement[29]. - The company did not apply the new accounting standards for the current reporting period[29]. - The adjustments pertain to the financial statements at the beginning of the year[29]. - The announcement is part of the company's compliance with regulatory requirements[29]. - The board of directors is committed to transparency in financial reporting[29]. - The company aims to enhance its financial reporting quality through these adjustments[29].