SMEG(SH:900922)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 115,216,136.28, a decrease of 28.47% compared to the same period last year[3] - The net profit attributable to shareholders was CNY 1,025,479.35, down 68.41% year-on-year[3] - Basic and diluted earnings per share were both CNY 0.005, reflecting a decrease of 68.41%[3] - The company reported a net loss of RMB 17,638,307.84 for the first quarter of 2022, an improvement from a loss of RMB 18,663,787.19 in the previous quarter[14] - The net profit for Q1 2022 was a loss of CNY 213,660.95, compared to a net profit of CNY 1,610,271.45 in Q1 2021, indicating a significant decline in profitability[22] - The company's operating profit for Q1 2022 was a loss of CNY 516,235.95, compared to a profit of CNY 2,196,896.45 in Q1 2021, indicating a significant downturn in operational performance[22] Cash Flow - The net cash flow from operating activities was CNY 16,642,256.51, a decline of 15.09% compared to the previous year[3] - Cash flow from operating activities in Q1 2022 was CNY 16.64 million, down 15.0% from CNY 19.60 million in Q1 2021[17] - In Q1 2022, the net cash flow from operating activities was CNY 133,277,246.50, an increase of 12.6% compared to CNY 118,331,425.06 in Q1 2021[23] - The cash flow from operating activities was primarily driven by CNY 151,446,761.09 received from sales and services, up from CNY 141,582,999.86 in the previous year[23] - The cash outflow for other operating activities was CNY 14,905,255.91, a decrease of 26.4% from CNY 20,309,459.01 in the same quarter last year[23] - The net cash flow from investment activities was negative at CNY -203,451,163.77, worsening from CNY -149,397,408.98 in Q1 2021[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 722,535,806.10, down 6.18% from the end of the previous year[3] - Current assets totaled RMB 519,880,649.42, down from RMB 565,612,785.14 at the end of 2021, primarily due to a decrease in cash and accounts receivable[13] - The company's total liabilities decreased to RMB 283,275,082.33 from RMB 331,933,111.99, reflecting a reduction in current liabilities[14] - The company's total liabilities as of March 31, 2022, were CNY 180,544,534.43, compared to CNY 47,532,425.60 at the end of 2021, showing a substantial increase in liabilities[20] - The cash and cash equivalents decreased to CNY 55,694,221.55 from CNY 125,868,138.82, a decline of approximately 55.7%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,262[6] - The largest shareholder, Chongqing Light Textile Holdings Group Co., Ltd., holds 25.95% of the shares[6] Investments and Partnerships - The company completed the transfer of 100% equity in Shanghai Yindun Electronic Information Technology Co., Ltd. to Tongkai Technology Co., Ltd. for a total price of RMB 7,002,147.68[9] - The company increased its investment in Shanghai Sanjin Import and Export Co., Ltd. by RMB 7 million to help reduce its debt ratio and support AEO re-certification efforts[10] - The company has established a partnership to set up an investment fund aimed at investing in educational projects, specifically targeting Hujiang Education[12] Legal Matters - The company is involved in a land lease contract dispute, with a court ruling requiring the return of approximately 6.076 acres of land[8] - The company has been involved in legal proceedings related to the Innovation No. 1 Fund, with ongoing efforts to enforce arbitration awards[11] Other Financial Metrics - The weighted average return on equity was 0.23%, a decrease of 0.52 percentage points[3] - Non-recurring gains and losses totaled CNY 310,901.49 for the period[4] - The company's financial expenses improved, with a net financial cost of -CNY 67,628.59 in Q1 2022, compared to -CNY 89,926.46 in Q1 2021[21]