2022-04-28 16:00Financial Performance - Total revenue for Q1 2022 was RMB 499,355 thousand, representing a year-on-year increase of 6.98%[2] - Net profit attributable to shareholders was RMB 121,413 thousand, with basic and diluted earnings per share both at RMB 0.49[2] - Operating profit for Q1 2022 was RMB 121,874 thousand, a significant recovery from a loss of RMB 16,190 thousand in Q1 2021[16] - Net profit for Q1 2022 amounted to RMB 114,295 thousand, compared to a loss of RMB 15,752 thousand in Q1 2021[16] - The net profit attributable to shareholders of the parent company was 121,413,000, compared to a net loss of 14,114,000 in the previous period[17] - The total comprehensive income attributable to shareholders of the parent company was 121,413,000, while the comprehensive income attributable to minority shareholders was -7,118,000, compared to -1,638,000 in the previous period[17] - The basic and diluted earnings per share were both 0.49 yuan, compared to a loss of 0.06 yuan per share in the previous period[17] Research and Development - R&D investment totaled RMB 159,416 thousand, a decrease of 40.91% compared to the previous year[2] - R&D expenses accounted for 31.92% of total revenue, a decrease of 25.88 percentage points year-on-year[3] - Research and development expenses for Q1 2022 were RMB 157,155 thousand, a decrease of 41.7% from RMB 269,788 thousand in Q1 2021[16] Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -598,148 thousand, primarily due to longer collection cycles and increased cash payments for raw materials and employee salaries[2][5] - Cash inflows from operating activities totaled 230,369,000, down from 525,180,000 in the previous period[19] - Cash outflows from operating activities amounted to 828,517,000, compared to 537,596,000 in the previous period[19] - The net cash flow from investment activities was -894,010,000, compared to 8,094,000 in the previous period[20] - The net increase in cash and cash equivalents was -1,481,585,000, compared to an increase of 232,336,000 in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period were RMB 11,933,983 thousand, a slight increase of 0.50% from the end of the previous year[3] - Non-current assets totaled RMB 2,811,478 thousand, an increase of 8.8% from RMB 2,584,343 thousand year-over-year[15] - Current liabilities decreased to RMB 2,774,427 thousand from RMB 2,861,417 thousand, reflecting a reduction of 3.0%[15] - Long-term borrowings increased to RMB 155,000 thousand from RMB 40,000 thousand, indicating a rise of 287.5%[15] - Total equity attributable to shareholders rose to RMB 8,034,486 thousand, compared to RMB 7,995,046 thousand in the previous year[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,318[7] - Major shareholders included HKSCC NOMINEES LIMITED with a 39.63% stake and Xuefeng Yu with a 7.22% stake[7] - The company has approved a share repurchase plan with a total amount not less than RMB 150 million and not exceeding RMB 300 million, with a repurchase price cap of RMB 446.78 per share[12] - The company has repurchased a total of 325,000 A shares through the Shanghai Stock Exchange as of March 31, 2022[12] Product Development and Market Outlook - The company’s new COVID-19 vaccine, Kweisha®, received domestic approval for sequential booster immunization in February 2022 and is undergoing WHO GMP certification[10] - The global vaccination rate is expected to slow down, with increased competition in the COVID-19 vaccine market leading to potential price declines[11] - The company is in the process of including Kweisha® in the WHO's Emergency Use Listing (EUL) following its approval[10] Other Financial Metrics - Non-recurring gains and losses totaled RMB 39,199 thousand, including government subsidies of RMB 22,264 thousand and fair value changes of financial assets of RMB 21,010 thousand[4] - The weighted average return on equity was 1.51%[2] - The company's cash and cash equivalents decreased to RMB 4,290,250, down from RMB 5,645,030 in the previous year, representing a decline of approximately 24%[13] - The total current assets amounted to RMB 9,122,505, a slight decrease from RMB 9,289,844 in the previous year, indicating a reduction of about 1.8%[13] - The company's inventory increased to RMB 1,121,661, up from RMB 875,621, reflecting a growth of approximately 28%[13] - The accounts receivable rose significantly to RMB 350,532, compared to RMB 157,926 in the previous year, marking an increase of about 122%[13]