Sinocat(SH:688737)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥96,166,056.69, representing a decrease of 68.16% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥10,789,471.89, a decline of 211.43% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥19,280,452.63, reflecting a decrease of 360.05%[5]. - The net cash flow from operating activities was -¥21,323,327.11, down 110.28% from the previous year[5]. - Basic and diluted earnings per share were both -¥0.13, a decrease of 186.67% compared to the previous year[6]. - Total revenue for Q1 2022 was CNY 96,166,056.69, a decrease of 68.15% compared to CNY 302,047,980.75 in Q1 2021[24]. - Net profit for Q1 2022 was a loss of CNY 11,008,221.97, compared to a profit of CNY 9,479,048.21 in Q1 2021, indicating a significant decline[25]. - The total comprehensive income for the first quarter of 2022 was -11,008,221.97 RMB, compared to 9,479,048.21 RMB in the same period of 2021[26]. - The company reported a gross profit margin of -25.51% for Q1 2022, compared to a positive margin in Q1 2021[24]. - The cash flow from operating activities decreased by approximately 72% compared to the previous year[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,275,502,408.39, a decrease of 0.52% from the end of the previous year[6]. - The company's total assets as of March 31, 2022, were CNY 2,275,502,408.39, slightly down from CNY 2,287,378,064.25 at the end of 2021[22]. - Current assets totaled CNY 1,915,596,462.24, a decrease from CNY 1,952,498,740.04 at the end of 2021, representing a decline of 1.89%[21]. - Current liabilities increased to CNY 238,105,837.24 from CNY 234,258,127.50, showing a rise of 1.19%[22]. - The total equity attributable to shareholders decreased to CNY 1,966,834,480.54 from CNY 1,977,623,952.43, a decline of 0.86%[22]. - The company's cash and cash equivalents decreased to CNY 655,010,355.30 from CNY 848,227,912.56, a decline of 22.83%[21]. - Total cash and cash equivalents at the end of the period were 653,009,535.49 RMB, down from 82,207,326.46 RMB at the end of Q1 2021[29]. Research and Development - Research and development expenses totaled ¥20,471,585.98, accounting for 21.29% of operating revenue, an increase of 14.05 percentage points[6]. - Research and development expenses for Q1 2022 were CNY 19,468,213.64, slightly down from CNY 20,398,580.93 in Q1 2021[25]. - The company’s subsidiary, Chengdu Zhongzi Guangming Catalytic Technology Co., has been recognized for its product development capabilities, enhancing its competitiveness in the passenger vehicle catalyst market[16]. Market and Sales Performance - The decline in operating revenue was primarily due to the impact of the COVID-19 pandemic and rising energy prices, leading to a significant drop in commercial vehicle sales[9]. - The sales revenue from natural gas products decreased by 85.35% year-over-year, while gasoline vehicle products saw a decline of 50.04% due to chip shortages and reduced end demand[10]. - Cash inflow from sales of goods and services was 99,462,307.17 RMB, down from 370,825,711.15 RMB year-over-year[27]. Investments and Projects - The company successfully won a bid for catalyst products for several models from Chongqing Changan Automobile Co., which is expected to positively impact future operating performance and market share[16]. - The company participated in a project that won the Tianjin Science and Technology Progress Award for key technology research and industrialization applications related to National VI standard diesel vehicle emissions[17]. - The company’s project "Intelligent Manufacturing Industrial Park for Automotive After-treatment Devices" in Changchun has experienced delays due to the pandemic, but efforts are being made to resume construction[17]. Shareholder Information - The company reported a total of 3,027,618 shares held by Chengdu Luxin Jingrong Equity Investment Fund Management Co., with a percentage of 3.52%[13]. - The company’s top ten shareholders include significant holdings from various investment funds, with the largest being China Industrial Bank Co., holding 1,412,542 shares[14]. - The company has a total of 2,039,492 shares allocated to the asset management plan under Shenwan Hongyuan Securities, which is involved in the strategic placement of shares[14].