BPSemi(SH:688368)2022-04-22 16:00Financial Performance - The company reported a revenue of CNY 301.84 million for Q1 2022, a decrease of 25.93% compared to the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 11.48 million, down 116.60% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 36.47 million, a decline of 156.29% compared to the previous year[4]. - The company's cash flow from operating activities was a negative CNY 293.73 million, a decrease of 1,472.33% year-on-year[4]. - Total operating revenue for Q1 2022 was ¥301,841,864.23, a decrease of 26.0% compared to ¥407,514,538.24 in Q1 2021[30]. - Net profit for Q1 2022 was a loss of ¥11,479,192.95, compared to a profit of ¥73,119,388.12 in Q1 2021, indicating a significant decline[31]. - The total comprehensive income attributable to the parent company was -11,424,814.70 RMB, compared to 73,148,241.37 RMB in the previous year[32]. - Basic earnings per share decreased to -0.19 RMB from 1.12 RMB in Q1 2021, indicating a significant drop in profitability[32]. - The basic earnings per share for Q1 2022 was CNY 0.21, down from CNY 1.08 in Q1 2021[42]. Research and Development - Research and development expenses totaled CNY 86.17 million, representing 28.55% of revenue, an increase of 15.86 percentage points year-on-year[5]. - Research and development expenses increased by 66.57%, driven by a rise in personnel costs and stock-based compensation for R&D staff[13]. - Research and development expenses rose to ¥86,170,679.39 in Q1 2022, up 66.7% from ¥51,732,958.65 in Q1 2021[30]. - Research and development expenses increased to CNY 54,096,863.39, representing a rise of 16.4% from CNY 46,448,445.52 in the previous year[40]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2.85 billion, a 2.97% increase from the end of the previous year[5]. - The net assets attributable to shareholders were CNY 1.94 billion, up 1.76% from the previous year[5]. - Total assets as of Q1 2022 amounted to ¥2,848,505,609.41, compared to ¥2,766,435,651.73 in Q1 2021, reflecting a growth of 2.9%[29]. - Total liabilities increased to ¥908,078,817.25 in Q1 2022 from ¥859,479,387.62 in Q1 2021, marking a rise of 5.6%[28]. - The company's total liabilities increased to CNY 922,828,615.85 in Q1 2022, up from CNY 867,058,249.30 in Q1 2021[39]. - The company's total equity rose to CNY 2,096,663,345.06, compared to CNY 2,038,529,056.34 in the same period last year[39]. Cash Flow - The company's cash and cash equivalents amounted to RMB 394.81 million, an increase from RMB 330.79 million as of December 31, 2021, representing a growth of approximately 19.4%[26]. - In Q1 2022, the company reported a net cash flow from operating activities of -293,729,698.94 RMB, a significant decline compared to 21,403,658.96 RMB in Q1 2021[35]. - The company experienced a net cash inflow from investment activities of 307,682,341.92 RMB, a turnaround from a net outflow of -153,680,801.10 RMB in Q1 2021[35]. - The company achieved a cash inflow from investment activities of CNY 1,001,911,116.53, compared to CNY 469,320,281.80 in Q1 2021[43]. - The company's cash outflow for purchasing goods and services was 504,962,462.75 RMB, which is a substantial increase from 256,604,637.01 RMB in the same quarter last year[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,437[15]. - The top shareholder, Hu Liqiang, holds 16,564,500 shares, representing 26.70% of the total[16]. - The second-largest shareholder, Xia Feng, owns 15,115,500 shares, accounting for 24.37%[16]. Government Support and Incentives - The company received government subsidies amounting to CNY 1.36 million, which were included in the current period's profit[11]. - The company approved a stock incentive plan on March 17, 2022, granting 73,200 restricted stocks at a price of RMB 86.00 per share to 13 incentive targets[18]. - The company plans to grant 1,155,376 restricted stocks at RMB 113.80 per share under the 2022 first phase stock incentive plan, with 924,376 stocks for initial grant and 231,000 stocks reserved[20]. - The company’s board of directors approved the vesting of certain restricted stocks under previous incentive plans, confirming that the conditions for vesting have been met[21]. - The company’s stock incentive plans have received independent board approval, ensuring compliance with governance standards[18]. Operational Challenges - The company is facing operational uncertainties due to the impact of COVID-19, with upstream suppliers experiencing capacity constraints and logistics issues in Shanghai[24]. - The company has communicated the need for investors to pay attention to the operational environment and potential risks associated with ongoing pandemic measures[24]. Other Financial Metrics - The gross profit margin decreased by 7.60% year-on-year, with average costs rising by 50.63%[8]. - The company reported a significant increase in financial expenses, with interest expenses rising to ¥2,063,441.44 in Q1 2022 from ¥293,470.30 in Q1 2021[30]. - The company recognized a fair value change gain of 26,180,917.57 from trading financial assets and derivatives[12]. - The total non-recurring gains and losses amounted to 24,989,758.15 after tax adjustments[13]. - Accounts receivable decreased from ¥283,126,432.35 in the previous year to ¥218,661,108.82 in Q1 2022, a decline of 22.8%[27]. - Inventory increased to ¥474,711,846.22 in Q1 2022, up 21.5% from ¥390,839,450.51 in Q1 2021[27].