ZMD(SH:688636)2022-04-26 16:00Financial Performance - The company achieved operating revenue of CNY 100,864,302.10, representing an increase of 86.47% compared to the same period last year[4]. - Net profit attributable to shareholders decreased by 6.56% to CNY 8,810,103.71; however, excluding share-based payment impacts, net profit increased by 76.49% to CNY 16,641,421.90[4][6]. - The basic earnings per share (EPS) decreased by 29.52% to CNY 0.18 due to a 34% increase in the number of shares outstanding compared to the previous year[6]. - Total profit decreased by 30.75% year-on-year, leading to a reduction in income tax expenses by CNY -1.6783 million[11]. - The net profit for Q1 2022 was ¥8,810,103.71, a decrease of 6.5% from ¥9,428,982.21 in Q1 2021[22]. Research and Development - Research and development (R&D) expenses totaled CNY 26,683,882.20, accounting for 26.46% of operating revenue, a decrease of 4.46 percentage points year-on-year[5]. - R&D expenses increased by 33.44% year-on-year to CNY 5.954 million in Q1 2022[11]. - The company had 65 new R&D projects initiated during the quarter, with a total order backlog (including verbal orders) of CNY 505 million[5]. - Research and development expenses increased to ¥26,683,882.20 in Q1 2022, up 59.7% from ¥16,725,066.94 in Q1 2021[21]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -CNY 60,120,736.32, indicating a significant cash outflow during the quarter[4]. - The company's cash flow from operating activities showed a net outflow, indicating ongoing challenges in operational efficiency[25]. - Cash inflow from sales and services in Q1 2022 was $50,385,220, a significant increase from $22,229,653 in Q1 2021, representing a growth of 126%[25]. - Net cash flow from operating activities in Q1 2022 was -$60,120,736, slightly worse than -$58,844,583 in Q1 2021[25]. - The ending cash and cash equivalents balance for Q1 2022 was $146,840,309.97, a significant increase from $2,873,887.73 in Q1 2021[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,313,407,414.88, reflecting a 1.01% increase from the end of the previous year[5]. - The total liabilities decreased slightly to ¥410,190,343.77 in Q1 2022 from ¥413,648,086.58 at the end of 2021[19]. - The total equity increased to ¥903,217,071.11 as of March 31, 2022, compared to ¥886,600,032.60 at the end of 2021[19]. - The inventory as of March 31, 2022, was ¥270,194,879.51, an increase of 13.3% from ¥238,479,953.58 at the end of 2021[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 2,539[13]. - The top shareholder, Wang Yong, holds 29.57% of shares, totaling 14,883,750 shares[13]. - The second-largest shareholder, Du Kecheng, holds 18.10% of shares, totaling 9,112,500 shares[13]. Investment and Financial Losses - Investment income showed a loss of CNY -7.5375 million, primarily due to increased investment losses in associates[11]. - The company reported a financial loss of ¥1,438,618.71 from investments in Q1 2022, contrasting with a gain of ¥220,058.05 in Q1 2021[21]. - The company has increased its investment in associates, contributing to the investment loss reported[11]. Operational Challenges - The company experienced a 139.22% increase in operating costs, primarily due to increased sales volume and higher complexity of new product projects[10]. - The company is focusing on expanding its market presence and enhancing product complexity[11]. - The company has expanded its workforce, leading to increased compensation costs[11]. Government Support - The company received government subsidies amounting to CNY 102,800.75, which are closely related to its normal business operations[7]. Accounting Changes - The company is adapting to new accounting standards starting in 2022, which may impact future financial reporting[26].