HGZN(SZ:000584)2022-04-27 16:00Financial Performance - The company's revenue for Q1 2022 was ¥197,050,118.54, a decrease of 60.88% compared to ¥503,696,132.40 in the same period last year[2] - The net profit attributable to shareholders was -¥31,133,596.19, representing a decline of 189.78% from -¥10,743,787.40 year-on-year[2] - The company reported total operating revenue of ¥197,050,118.54 for the first quarter of 2022, a significant decrease from ¥503,696,132.40 in the same period last year, representing a decline of approximately 60.9%[25] - The net profit for Q1 2022 was -35,637,841.13 CNY, compared to -10,759,377.15 CNY in Q1 2021, representing a significant increase in losses[26] - Operating profit for Q1 2022 was -40,689,662.82 CNY, worsening from -21,848,797.85 CNY in the same period last year[26] - The company reported a total comprehensive loss of -37,114,733.74 CNY for Q1 2022, compared to -10,858,826.50 CNY in Q1 2021[27] Cash Flow and Liquidity - The net cash flow from operating activities improved by 47.55%, reaching -¥34,683,231.98 compared to -¥66,120,864.32 in the previous year[2] - The cash flow from operating activities showed a net outflow of -34,683,231.98 CNY, an improvement from -66,120,864.32 CNY in Q1 2021[31] - The company's cash and cash equivalents decreased to ¥159,372,079.84 from ¥218,765,589.19 at the beginning of the year, reflecting a decline of approximately 27%[21] - Cash and cash equivalents at the end of Q1 2022 were 79,712,512.18 CNY, down from 246,113,427.98 CNY at the end of Q1 2021[31] - Investment activities generated a net cash inflow of 26,605,656.71 CNY in Q1 2022, compared to a net outflow of -46,577,986.16 CNY in Q1 2021[31] Assets and Liabilities - Total assets increased by 3.73% to ¥4,984,414,314.77 from ¥4,805,334,428.52 at the end of the previous year[2] - The total liabilities increased to ¥3,064,189,411.78 from ¥2,846,010,829.60, indicating a rise of approximately 7.7%[23] - The company's inventory increased by 26.95% to ¥1,352,837,884.98, primarily due to delays in revenue recognition caused by the pandemic[5] - Accounts receivable slightly decreased to ¥390,240,086.46 from ¥393,320,167.97, showing a marginal reduction of about 0.8%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 47,619[8] - As of March 31, 2022, the company has repurchased a total of 173,400 shares, accounting for 0.023% of the total share capital, with a total expenditure of approximately RMB 999,500[16] - The maximum repurchase price for shares was set at RMB 12.09 per share, with a total repurchase fund of RMB 30 million to RMB 60 million[14] - The company extended the share repurchase period by 6 months, now ending on October 24, 2022[15] Investments and Acquisitions - Jiangsu Harbin Intelligent Robot Co., Ltd. received a cash investment of RMB 54 million from the merger fund for Harbin Haidu Industrial Robot Co., Ltd.[11] - The merger fund committed that Harbin Haidu should achieve a net profit of RMB 36 million after deducting non-recurring gains and losses for the three complete fiscal years from 2018 to 2020, but it failed to meet 80% of this target[11][14] - The merger fund has transferred 6.80% of its shares in Harbin Haidu for RMB 18.36 million[12] - The company plans to cash acquire 70% of the equity of Jilin City Jiangji Minke Industrial Co., Ltd. for RMB 84 million, based on an assessed value of RMB 1.20088 billion[17] - The company has received regulatory approval for the acquisition of a 70% stake in Jilin Jiangji Minke Industrial Co., Ltd., with a payment of ¥28,999.99 million made to the shareholders[18] Research and Development - Research and development expenses increased to 19,028,501.13 CNY in Q1 2022, compared to 16,469,663.81 CNY in Q1 2021, reflecting a growth of about 9.5%[26] Operational Strategy - The company aims to enhance its core competitiveness in the military industry by leveraging its advantages in high-end intelligent manufacturing and AI technology[17]