SONAVOX(SH:688533)2022-04-29 16:00Financial Performance - The company's revenue for Q1 2022 was CNY 368,313,049.65, representing a year-on-year increase of 17.47%[4] - The net profit attributable to shareholders decreased by 42.26% to CNY 12,528,042.23 compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses fell by 32.31% to CNY 12,117,010.15[4] - Basic and diluted earnings per share decreased by 56.50% to CNY 0.08[4] - Total operating revenue for Q1 2022 was CNY 368,313,049.65, an increase of 17.5% compared to CNY 313,526,091.71 in Q1 2021[17] - Net profit for Q1 2022 was CNY 12,737,475.24, a decrease of 41.4% from CNY 21,744,082.39 in Q1 2021[18] - Earnings per share for Q1 2022 was CNY 0.08, down from CNY 0.18 in Q1 2021[18] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 133.25% to CNY 23,820,285.93[4] - Cash flow from operating activities for Q1 2022 was CNY 23,820,285.93, an increase from CNY 10,212,344.67 in Q1 2021[20] - Cash and cash equivalents reached CNY 509,836,889.38, up from CNY 327,151,689.62 at the end of 2021, indicating a significant liquidity improvement[13] - The ending balance of cash and cash equivalents was $509,419,809.03, up from $364,931,072.08 at the end of the previous period[21] - The net increase in cash and cash equivalents was $182,684,887.20, contrasting with a decrease of $40,098,791.94 in the previous period[21] Research and Development - R&D investment totaled CNY 24,805,526.27, an increase of 53.73% year-on-year, accounting for 6.73% of revenue[5] - Research and development expenses for Q1 2022 were CNY 24,805,526.27, an increase of 53.6% from CNY 16,136,089.04 in Q1 2021[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,729,702,653.83, up 6.64% from the end of the previous year[5] - As of March 31, 2022, the total current assets amounted to CNY 1,284,158,053.43, an increase from CNY 1,196,934,370.40 at the end of 2021[13] - Total liabilities as of Q1 2022 were CNY 685,141,758.06, compared to CNY 591,539,672.20 in Q1 2021, reflecting a growth of 15.8%[17] - Total liabilities increased, with accounts payable at CNY 246,670,590.04, up from CNY 223,882,869.21 at the end of 2021[14] - Short-term borrowings rose to CNY 328,919,200.46 from CNY 254,036,725.86 at the end of 2021, indicating increased leverage[14] Shareholder Information - The company reported a total of 4,452 common shareholders as of the report date, indicating a stable shareholder base[10] - The top ten shareholders collectively hold 77.5% of the shares, with Suzhou Shangsheng Investment Management Co., Ltd. being the largest shareholder at 26.25%[10] Market and Operational Insights - The increase in operating revenue was attributed to the development of the automotive market and enhanced product competitiveness[7] - The decline in net profit was primarily due to increased logistics costs and raw material prices, as well as higher R&D expenditures[7] - The company has not disclosed any significant new product developments or market expansion strategies in this report[12] Other Financial Metrics - The weighted average return on equity decreased by 1.78 percentage points to 1.21%[5] - Total operating costs for Q1 2022 were CNY 355,638,432.64, up 21.6% from CNY 292,204,866.61 in Q1 2021[17] - Other comprehensive income for Q1 2022 was CNY 860,544.54, compared to a loss of CNY 4,051,369.77 in Q1 2021[18] Accounting Changes - The company has adopted new accounting standards starting from 2022, which may affect financial reporting[21]