*ST中捷(002021) - 2022 Q1 - 季度财报

Key Financial Data Key Financial Indicators The company achieved strong growth in Q1 2022, though net operating cash flow was negative and total assets slightly declined Key Financial Indicators for Q1 2022 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 305,013,683.65 | 236,543,412.06 | 28.95% | | Net Profit Attributable to Shareholders (RMB) | 14,751,030.39 | 9,029,258.27 | 63.37% | | Net Cash Flow from Operating Activities (RMB) | -41,102,542.28 | -25,096,506.80 | -63.78% | | Basic Earnings Per Share (RMB/Share) | 0.0214 | 0.0128 | 67.19% | | Weighted Average Return on Equity | 12.32% | 1.42% | Increased by 10.90 percentage points | | | End of Current Period | End of Prior Year | Period-over-Period Change | | Total Assets (RMB) | 1,438,858,502.23 | 1,465,874,829.10 | -1.84% | | Equity Attributable to Shareholders (RMB) | 127,150,114.17 | 112,397,133.14 | 13.13% | Analysis of Non-recurring Gains and Losses Non-recurring gains totaled RMB 2.09 million, primarily driven by interest income from large-denomination bank certificates of deposit Details of Non-recurring Gains and Losses | Item | Amount for Current Period (RMB) | Note | | :--- | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -275,886.12 | Mainly from disposal of fixed assets | | Government Grants Recognized in Current Profit/Loss | 114,402.72 | - | | Gain/Loss from Trading Financial Assets/Liabilities | 2,265,260.96 | Mainly interest income from bank certificates of deposit | | Other Non-operating Income and Expenses | -16,927.18 | - | | Total | 2,086,850.38 | -- | Analysis of Major Financial Data Changes Significant fluctuations occurred across financial metrics, including higher receivables, surging expenses, and declining cash flows - Reasons for Balance Sheet Item Changes: - Accounts Receivable increased by 56.91% from the beginning of the period due to sales growth - Prepayments decreased by 66.88% from the beginning of the period, mainly due to reduced prepayments for subsidiary trading businesses - Cash and Cash Equivalents decreased by 35.71% from the beginning of the period, as funds were allocated to production and operations[8] - Reasons for Income Statement Item Changes: - R&D Expenses increased by 109.87% YoY, driven by higher salaries for R&D personnel and material costs - Financial Expenses rose by 187.58% YoY, due to increased interest expenses and exchange losses - Investment Income grew by 513.09% YoY, resulting from interest income on purchased bank certificates of deposit[10] - Reasons for Cash Flow Statement Item Changes: - Net Cash Flow from Operating Activities decreased by 63.78% YoY, as cash paid to employees increased due to bonus payments - Net Cash Flow from Investing Activities declined by 108.26% YoY, as a RMB 72.8 million investment recovery in the prior year period did not recur - Net Cash Flow from Financing Activities dropped by 103.17% YoY, due to a significant increase in cash paid for debt repayment[11] Shareholder Information Shareholder Holdings The company had 22,512 common shareholders, with Yuhuan Hengjie Venture Capital being the largest, holding an 18.84% stake - At the end of the reporting period, the total number of common shareholders was 22,512[13] Top Three Shareholders | Shareholder Name | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | | Yuhuan Hengjie Venture Capital Partnership (Limited Partnership) | 18.84% | 129,605,889 | | Ningbo Yuanxi Equity Investment Partnership (Limited Partnership) | 6.18% | 42,523,997 | | Southwest Securities Co., Ltd. | 5.00% | 34,390,700 | Other Important Matters Material Litigation, Regulatory Actions, and Shareholder Changes The company is managing an ongoing lawsuit, a planned share reduction by a major shareholder, a CSRC investigation, and a change in control - The company is involved in a lawsuit regarding a "shortfall make-up agreement" with Guangzhou Rural Commercial Bank and has appealed an unfavorable first-instance ruling related to a guarantee for a RMB 2.5 billion trust loan[14][15] - The third-largest shareholder, Southwest Securities, plans to reduce its stake by no more than 1% of the total share capital and has already sold 0.38% between March 23 and 28[16] - On March 23, 2022, the China Securities Regulatory Commission (CSRC) initiated an investigation into the company for suspected violations of information disclosure laws and regulations[16] - On April 28, 2022, the Board of Directors re-identified the controlling shareholder as Yuhuan Hengjie and the actual controller as the Yuhuan Municipal Finance Bureau[17] Quarterly Financial Statements Financial Statement Details This section presents the unaudited consolidated financial statements for the first quarter of 2022 Consolidated Balance Sheet As of March 31, 2022, total assets stood at RMB 1.44 billion, while equity attributable to the parent company grew by 13.13% Key Balance Sheet Items | Item | Closing Balance (RMB) | Opening Balance (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,438,858,502.23 | 1,465,874,829.10 | -1.84% | | Total Liabilities | 1,307,282,845.61 | 1,349,142,125.27 | -3.10% | | Equity Attributable to Parent Company | 127,150,114.17 | 112,397,133.14 | 13.13% | Consolidated Income Statement In Q1 2022, total operating revenue grew 28.95% YoY to RMB 305 million, boosting net profit attributable to the parent company by 63.37% Key Income Statement Items | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 305,013,683.65 | 236,543,412.06 | 28.95% | | Total Operating Costs | 289,798,485.08 | 224,661,507.92 | 29.00% | | Total Profit | 14,000,343.36 | 10,118,432.01 | 38.37% | | Net Profit Attributable to Parent Company | 14,751,030.39 | 9,029,258.27 | 63.37% | Consolidated Cash Flow Statement Cash flow weakened as operating activities generated a net outflow of RMB 41.10 million, while investing and financing activities also turned negative Key Cash Flow Statement Items | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -41,102,542.28 | -25,096,506.80 | -63.78% | | Net Cash Flow from Investing Activities | -5,832,541.12 | 70,632,495.41 | -108.26% | | Net Cash Flow from Financing Activities | -1,694,378.56 | 53,504,629.60 | -103.17% | | Net Increase in Cash and Cash Equivalents | -48,037,724.65 | 99,744,698.09 | -148.16% | Audit Status The company's financial report for the first quarter of 2022 is unaudited - The first quarter report has not been audited[29]