HBYH(SZ:000422)2022-04-25 16:00Financial Performance - The company's revenue for Q1 2022 was ¥5,524,494,999.24, representing a 55.10% increase compared to ¥3,561,855,257.48 in the same period last year[3] - Net profit attributable to shareholders was ¥638,334,832.84, a significant increase of 200.65% from ¥212,321,226.74 year-on-year[3] - The net cash flow from operating activities reached ¥1,098,251,279.11, marking a dramatic increase of 1,690.44% compared to a negative cash flow of -¥69,053,324.90 in the previous year[3] - The basic earnings per share rose to ¥0.7109, up 200.59% from ¥0.2365 in the same quarter last year[3] - The company reported a 55% increase in operating income primarily due to rising product prices[6] - The net profit for the period increased by 204% due to improved product profitability[6] - Operating profit for the current period was ¥819,136,682.49, up from ¥257,940,034.20, reflecting a growth of 217%[28] - Net profit attributable to the parent company was ¥638,334,832.84, compared to ¥212,321,226.74 in the previous period, marking an increase of 200%[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥20,221,607,316.63, a decrease of 7.64% from ¥21,893,895,584.96 at the end of the previous year[3] - As of March 31, 2022, the total assets of Hubei Yihua Chemical Co., Ltd. amounted to CNY 20,221,607,316.63, a decrease from CNY 20,866,134,859.19 at the beginning of the year[16] - The company's current assets totaled CNY 6,530,445,817.34, down from CNY 7,225,963,599.55 at the beginning of the year, reflecting a decrease of approximately 9.6%[19] - Total liabilities stood at CNY 15,875,464,519.36, down from CNY 16,897,636,770.18, showing a decrease of about 6%[22] - The total equity attributable to the parent company increased to CNY 3,044,492,287.53 from CNY 2,407,743,008.13, marking an increase of approximately 26.4%[22] Cash Flow - Cash flow from operating activities generated a net amount of ¥1,098,251,279.11, a turnaround from a negative cash flow of -¥69,053,324.90 in the previous period[32] - Cash inflow from investment activities totaled $58.76 million, up from $34.41 million year-over-year[35] - Cash outflow for the acquisition of fixed assets and other long-term assets was $371.12 million, compared to $176.15 million in the previous year[35] - Net cash flow from investment activities was -$358.56 million, worsening from -$162.14 million year-over-year[35] - Cash inflow from financing activities amounted to $956.01 million, down from $3.15 billion in the previous year[35] - Cash outflow for debt repayment was $868.86 million, compared to $2.86 billion in the previous year[35] - Net cash flow from financing activities was -$650.74 million, compared to -$259.02 million year-over-year[35] - The ending balance of cash and cash equivalents was $3.43 billion, up from $2.25 billion year-over-year[35] Expenses and Costs - Research and development expenses surged by 128% compared to the previous year, reflecting increased investment in innovation[6] - The company experienced a 484% increase in asset impairment losses, attributed to high raw material prices during the reporting period[6] - The company's total costs of operations rose to ¥4,718,001,487.49 from ¥3,338,811,919.34, reflecting an increase of 41.4%[25] Inventory and Receivables - The company's inventory decreased to CNY 1,230,826,587.84 from CNY 1,578,029,283.36, representing a significant reduction of approximately 22%[19] - The company reported a decrease in accounts receivable to CNY 164,394,218.79 from CNY 172,690,114.92, indicating a reduction of about 4.5%[19] Bankruptcy and Legal Matters - The court has accepted the bankruptcy liquidation application for Hubei Xiangxi Chemical Co., Ltd., a wholly-owned subsidiary, but it remains included in the consolidated financial statements for Q1 2022[15]