黑猫股份(002068) - 2022 Q1 - 季度财报

Key Financial Data The company's Q1 2022 performance shows a slight revenue decline but a significant drop in profitability and operating cash flow Key Accounting Data and Financial Indicators The company's Q1 2022 revenue slightly decreased, while profitability shifted from a profit to a significant loss Key Financial Indicators for Q1 2022 | Indicator | Current Period | Prior-Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,848,673,646.92 | 1,858,172,333.27 | -0.51% | | Net Profit Attributable to Shareholders (RMB) | -10,426,208.53 | 275,103,193.19 | -103.79% | | Net Profit Attributable to Shareholders (Non-recurring items deducted) (RMB) | -18,270,459.05 | 272,091,200.83 | -106.71% | | Net Cash Flow from Operating Activities (RMB) | -165,563,132.11 | 10,624,280.88 | -1,658.35% | | Basic Earnings Per Share (RMB/Share) | -0.0139 | 0.3694 | -103.76% | | Weighted Average Return on Equity | -0.35% | 8.79% | -9.14% | | Indicator | End of Current Period | End of Prior Year | Period-over-Period Change | | Total Assets (RMB) | 7,783,067,599.95 | 7,102,759,634.12 | 9.58% | | Equity Attributable to Shareholders (RMB) | 3,251,601,700.81 | 3,254,220,137.44 | -0.08% | Non-recurring Profit and Loss Items and Amounts Non-recurring gains totaled RMB 7.84 million, mainly from government subsidies, partially offsetting the net loss Details of Non-recurring Profit and Loss for Q1 2022 | Item | Amount for Current Period (RMB) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -144,381.68 | | Government Subsidies Included in Current Profit/Loss | 7,615,329.89 | | Other Non-operating Income and Expenses | 2,007,991.38 | | Less: Income Tax Effect | 1,471,387.48 | | Less: Effect on Minority Interests (After Tax) | 163,301.59 | | Total | 7,844,250.52 | Analysis of Changes in Key Financial Indicators Significant indicator changes include a sharp profit decline due to lower gross margins and a major drop in operating cash flow - Total profit and net profit decreased by 99.20% and 103.64% YoY, respectively, primarily due to a decline in gross profit margin during the reporting period[10] - Net cash flow from operating activities plummeted by 1658.35% YoY, mainly attributable to a decrease in net profit and an increase in inventory[14] - Net cash flow from financing activities surged by 5862.50% YoY, largely because repayments of bank loans were lower than in the same period last year[14] Key Item Variations and Reasons | Item | Change | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | +67.30% | Increase in bank deposits | | Other Receivables | +239.13% | Welfare tax refund from tax authorities not yet received | | Short-term Borrowings | +36.66% | Increase in bank loans | | Investment Income | -922.76% | Increase in interest expense from bill discounting | | Credit Impairment Loss | +310.66% | Reversal of bad debt provisions | Shareholder Information The company's shareholder base consists of over 25,000 common shareholders, with significant concentration among the top two holders Common Shareholder Holdings The company had 25,707 common shareholders, with the top two entities holding nearly 47% of total shares - At the end of the reporting period, the total number of common shareholders was 25,707[15] Top Ten Shareholders | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | :--- | | Jingdezhen Black Cat Group Co., Ltd. | State-owned legal entity | 34.05% | 254,743,820 | | Jingdezhen Jinggangshan BAIC Innovation Development Investment Center (Limited Partnership) | Domestic non-state-owned legal entity | 12.84% | 96,068,417 | | Guotai Smart Car Equity Securities Investment Fund | Other | 4.46% | 33,372,145 | | Guotai Intelligent Equipment Equity Securities Investment Fund | Other | 2.51% | 18,756,134 | | Taiping Asset Management - CMB - Taiping Asset Quant 17 Asset Management Product | Other | 1.49% | 11,160,400 | Other Important Matters The company established a joint venture to enter the new energy materials sector Establishment of a Joint Venture A joint venture was established with a RMB 500 million investment to enter the new energy materials sector - A joint venture, "Inner Mongolia Lianhe Fluorocarbon New Materials Co., Ltd.," was formed with Shandong Linkcreate Co., Ltd., with a total investment of RMB 500 million; the company contributed RMB 100 million for a 20% stake[19] - This investment aims to promote industrial optimization, enrich the product structure, rapidly enter the new energy materials industry, and create a new profit growth driver[19] - As of the end of the reporting period, the joint venture had completed its business registration[19] Quarterly Financial Statements The Q1 2022 financial statements detail the company's balance sheet, income statement, and cash flow statement Consolidated Balance Sheet Total assets grew to RMB 7.78 billion, while liabilities increased more significantly, driven by short-term debt Key Items of the Consolidated Balance Sheet | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Assets | | | | Cash and Cash Equivalents | 522,887,843.86 | 312,545,475.38 | | Accounts Receivable | 1,655,008,467.19 | 1,739,661,210.19 | | Inventories | 1,190,995,841.55 | 963,504,452.33 | | Fixed Assets | 2,802,366,527.46 | 2,872,807,139.08 | | Total Assets | 7,783,067,599.95 | 7,102,759,634.12 | | Liabilities | | | | Short-term Borrowings | 1,688,007,755.89 | 1,235,589,881.67 | | Notes Payable | 944,261,201.39 | 654,416,344.18 | | Total Liabilities | 4,387,588,538.36 | 3,704,961,192.12 | | Equity | | | | Total Equity Attributable to Parent Company | 3,251,601,700.81 | 3,254,220,137.44 | | Total Equity | 3,395,479,061.59 | 3,397,798,442.00 | Consolidated Income Statement Revenue remained stable at RMB 1.85 billion, but a surge in costs led to a net loss of RMB 10.43 million Key Items of the Consolidated Income Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,848,673,646.92 | 1,858,172,333.27 | | Total Operating Costs | 1,886,027,019.84 | 1,540,872,868.52 | | Including: Cost of Goods Sold | 1,792,708,849.71 | 1,430,113,068.55 | | Total Profit | 2,506,953.81 | 311,726,239.62 | | Net Profit | -10,629,548.95 | 292,111,993.98 | | Net Profit Attributable to Parent Company Owners | -10,426,208.53 | 275,103,193.19 | | Basic Earnings Per Share | -0.0139 | 0.3694 | Consolidated Cash Flow Statement Operating cash flow turned negative, while financing activities generated a significant inflow, resulting in a net cash increase Key Items of the Consolidated Cash Flow Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -165,563,132.11 | 10,624,280.88 | | Net Cash Flow from Investing Activities | -42,397,717.44 | -3,334,978.62 | | Net Cash Flow from Financing Activities | 440,066,347.16 | 7,380,572.95 | | Net Increase in Cash and Cash Equivalents | 230,331,181.30 | 12,998,324.35 | | Closing Balance of Cash and Cash Equivalents | 468,492,520.77 | 281,842,892.12 | Audit Opinion The company's first-quarter 2022 financial report is unaudited - The company's first-quarter report has not been audited[40]