SNAT(SH:900920)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 4,061,771,578.45, a decrease of 48.15% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 16,744,914.36, reflecting an 86.96% decline year-over-year[4] - The net profit after deducting non-recurring gains and losses was CNY -43,866,248.83, a decrease of 173.69% compared to the previous year[4] - The company reported a decrease in sales expenses by 31.30%, attributed to lower sales volume and improved internal cost control[8] - Total operating revenue for Q1 2022 was approximately ¥4.06 billion, a decrease of 48.0% compared to ¥7.83 billion in Q1 2021[17] - Total operating costs for Q1 2022 were approximately ¥4.13 billion, down 45.5% from ¥7.59 billion in Q1 2021[17] - Net profit for Q1 2022 was approximately ¥16.74 million, a decline of 90.6% from ¥178.96 million in Q1 2021[18] - Operating profit for Q1 2022 was ¥61,233,132.63, a decline of 13.5% from ¥70,636,993.62 in Q1 2021[27] - Net profit for Q1 2022 was ¥65,308,321.22, down 8.5% from ¥71,654,932.50 in Q1 2021[27] Cash Flow - The net cash flow from operating activities was CNY -2,584,689,696.11, indicating a significant cash outflow[4] - Operating cash flow for Q1 2022 was negative at approximately -¥2.58 billion, compared to -¥2.22 billion in Q1 2021[20] - Cash inflow from operating activities totaled ¥1,053,634,980.86, a decrease of 31.4% compared to ¥1,538,464,995.95 in the previous year[30] - Cash outflow from operating activities amounted to ¥1,526,120,146.34, down 12.3% from ¥1,740,189,817.36 year-over-year[30] - Net cash flow from operating activities was -¥472,485,165.48, worsening from -¥201,724,821.41 in the same quarter last year[30] - The net decrease in cash and cash equivalents was -¥385,935,056.42, compared to -¥220,307,529.78 in the previous year[30] - The ending balance of cash and cash equivalents was ¥3,022,643,442.97, up from ¥2,680,176,661.05 year-over-year[30] Assets and Liabilities - The total assets at the end of the reporting period were CNY 24,651,941,139.46, an increase of 1.67% from the end of the previous year[5] - The company's total assets amounted to 24.652 billion RMB, compared to 24.248 billion RMB at the end of 2021[16] - The company's total liabilities as of March 31, 2022, were 14.872 billion RMB, compared to 14.478 billion RMB at the end of 2021[15] - Total assets as of March 31, 2022, were ¥15,401,912,024.54, slightly up from ¥15,383,544,288.61 at the end of 2021[24] - Total liabilities decreased to ¥5,130,371,524.94 from ¥5,170,842,865.41 at the end of 2021, indicating improved financial stability[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 43,677[10] - The company’s equity attributable to shareholders was approximately 9.780 billion RMB, slightly up from 9.769 billion RMB year-on-year[16] - The company’s total equity increased to ¥10,271,540,499.60 as of March 31, 2022, from ¥10,212,701,423.20 at the end of 2021, reflecting retained earnings growth[24] Research and Development - Research and development expenses for Q1 2022 were approximately ¥109.64 million, an increase of 4.0% from ¥104.81 million in Q1 2021[18] - The company reported R&D expenses of ¥62,368,340.15 for Q1 2022, a slight increase from ¥61,267,726.00 in Q1 2021, highlighting ongoing investment in innovation[26] Market Conditions - The company’s operating environment was impacted by a decline in market demand, affecting both vehicle and engine sales[12] - Accounts receivable increased by 42.84% compared to the beginning of the year, primarily due to increased credit sales and slower collections[8] - Short-term borrowings rose by 156.47%, mainly due to increased short-term loans from a subsidiary[8] - The company's cash and cash equivalents decreased to approximately 5.040 billion RMB from 6.291 billion RMB year-on-year[13] - Accounts receivable increased to approximately 8.805 billion RMB from 6.164 billion RMB year-on-year[13] - The company’s inventory decreased to approximately 1.676 billion RMB from 2.293 billion RMB year-on-year[14] - Short-term borrowings increased significantly to 2.180 billion RMB from 850 million RMB year-on-year[15] - The company's financial expenses in Q1 2022 included interest expenses of approximately ¥13.63 million, compared to ¥0.52 million in Q1 2021[17] - The gross profit margin for Q1 2022 was approximately 14.4%, down from 15.8% in Q1 2021, reflecting increased cost pressures[26]