ST易购(002024) - 2022 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2022 was CNY 19,374,303, a decrease of 64.13% compared to CNY 54,005,268 in the same period last year[2] - The net profit attributable to shareholders of the listed company was a loss of CNY 1,028,908, representing a decline of 325.55% from a profit of CNY 456,171 in the previous year[2] - The company achieved an EBITDA of CNY 2,260,000 in Q1 2022, marking a return to positive earnings before interest, taxes, depreciation, and amortization[8] - Net profit for Q1 2022 was -1,133,801 thousand, compared to a profit of 365,033 thousand in the same period last year, indicating a significant decline[24] - Total revenue from operating activities was 19,014,624 thousand, down from 73,234,197 thousand in the previous year[26] - Operating profit for the quarter was -1,296,347 thousand, compared to a profit of 481,721 thousand in the previous year[24] - Total comprehensive income for the quarter was -1,539,105 thousand, compared to 441,579 thousand in the same period last year[25] - Basic earnings per share were -0.1105, down from 0.0495 in the same period last year[25] Cash Flow and Liquidity - The net cash flow from operating activities increased by 176.83% to CNY 1,295,878, compared to CNY 468,109 in Q1 2021[2] - The company's net cash flow from operating activities turned positive, increasing significantly compared to the same period last year due to strict control over operating expenses and improved efficiency of working capital[10] - Cash flow from operating activities was 1,295,878 thousand, an increase from 468,109 thousand in the previous year[27] - Financing activities resulted in a net cash inflow of 764,072 thousand, a significant improvement from a net outflow of -4,586,642 thousand in the previous year[27] - The company received an incremental credit line of CNY 1,050,000,000 in Q1 2022, enhancing liquidity and ensuring operational stability[9] Assets and Liabilities - The total assets at the end of the reporting period were CNY 169,329,339, a decrease of 0.83% from CNY 170,738,086 at the end of the previous year[2] - The company's total current assets as of the end of the first quarter of 2022 were RMB 74.26 billion, a decrease from RMB 75.28 billion at the beginning of the year[20] - The total liabilities of the company as of March 31, 2022, were RMB 139.77 billion, slightly up from RMB 139.71 billion at the beginning of the year[22] - As of March 31, 2022, the company's bonds payable decreased by 93.73% compared to December 31, 2021, indicating a significant reduction in debt obligations[11] Expenses and Cost Management - The company reported a significant reduction in total expenses by 43.53% year-on-year, with a 46.44% decrease in three major expense categories excluding financial costs[8] - The total operating costs for the first quarter of 2022 were RMB 20.92 billion, down from RMB 55.54 billion in the previous year[23] - Research and development expenses decreased to 250,356 thousand from 579,691 thousand, reflecting a reduction of approximately 56.8%[24] Investments and Shareholder Information - The company sold 39% of its stake in Suning Consumer Finance Co., Ltd. for CNY 369,000,000 as part of its asset recovery strategy[9] - The investment income decreased by 93.68% to CNY 136,514, primarily due to the previous year's sale of warehouse properties and bond repurchases[7] - The total number of ordinary shareholders at the end of the reporting period was 284,632, with the top ten shareholders holding significant stakes, including Taobao (China) Software Co., Ltd. at 19.99%[14] - The company has implemented employee stock ownership plans, with 1,180 employees holding a total of 65,919,578 shares, representing 0.71% of the company's total equity[16] Store Operations - The total number of stores as of March 31, 2022, was 2,017, with a total area of 611.51 thousand square meters, reflecting a decrease in the number of stores and area compared to the previous year[12] - The company opened 17 new stores in the first quarter of 2022, covering an area of 1.66 thousand square meters, while 90 stores were closed, resulting in a net reduction[12] Fund Management - As of March 31, 2022, the balance of the raised funds account was 97,190.0 thousand yuan, with the majority allocated for repaying company bonds[17] - As of March 31, 2022, the total guarantees provided by the company to its subsidiaries amounted to RMB 4.31 billion, representing 18.50% of the audited net assets attributable to the parent company for 2021[18]