富临精工(300432) - 2022 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2022 reached ¥1,654,308,859.36, representing a 212.24% increase compared to ¥529,819,070.18 in the same period last year[3] - Net profit attributable to shareholders was ¥211,079,351.02, up 108.69% from ¥101,143,058.46 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥211,343,160.63, a 154.96% increase from ¥82,892,332.63 in the previous year[3] - Operating revenue reached ¥1,654,308,859.36, a significant increase of 212.24% compared to the same period last year, driven by steady growth in traditional components and a substantial rise in smart electric control business[9] - Net profit for the period was ¥211,079,133.10, reflecting an increase of 108.72%, primarily due to a significant rise in revenue from the new energy business and improved profitability of Jiangxi Shenghua[9] - The basic earnings per share increased to ¥0.2856, reflecting a growth of 108.62% from ¥0.1369 in the same period last year[3] - The total comprehensive income attributable to the parent company's owners was approximately ¥210.97 million, compared to ¥100.84 million in the previous period[42] Assets and Liabilities - The company's total assets increased by 41.36% to ¥7,492,309,908.08 from ¥5,299,995,099.67 at the end of the previous year[3] - Shareholders' equity rose by 66.46% to ¥4,218,813,796.26 compared to ¥2,534,473,850.54 at the end of the last year[3] - The total current liabilities increased to ¥2.76 billion from ¥2.33 billion, marking a rise of 18.3%[36] - The company's non-current liabilities rose to ¥512.58 million from ¥362.09 million, an increase of 41.5%[36] - Accounts receivable rose to ¥827.71 million, up from ¥667.31 million, indicating a growth of 24%[30] - The inventory level increased to ¥788.53 million from ¥699.98 million, showing a growth of 12.6%[30] Cash Flow - The net cash flow from operating activities was negative at -¥249,283,206.54, a significant decline from ¥7,249,284.83 in the previous year, indicating cash flow challenges[3] - The company reported a net cash flow from operating activities of -¥249,283,206.54, a decline of 3538.73%, primarily due to changes in bill receivables[9] - Cash received from sales of goods and services was ¥978,798,282.25, up 109.13% year-on-year, attributed to increased sales collections from lithium battery cathode materials and smart electric control[9] - Cash flow from financing activities amounted to ¥1,759,372,682.53, a dramatic increase of 6283573.87%, mainly due to stock issuance to specific investors and increased bank financing[9] - The net increase in cash and cash equivalents was 1,196,216,868.91, compared to a decrease of -161,090,001.84 in the previous period[50] - The ending balance of cash and cash equivalents was 1,738,710,032.44, up from 545,483,864.46 in the previous period[50] Investment and Expansion - The company is expanding its investment in new energy projects, as indicated by a 294.77% increase in construction in progress to ¥102,627,132.51[6] - The company plans to continue expanding its new energy business and invest in research and development for new technologies[9] - The company signed an investment agreement with the government of Mianyang for a new project in the electric vehicle sector, with a total investment of approximately ¥1 billion[29] - The company plans to invest in a new project with an annual production capacity of 50,000 tons of lithium battery cathode materials, supported by the funds raised from the share issuance[25] - The company has completed a capital increase in its subsidiary, Jiangxi Shenghua, totaling 272 million CNY, with additional investments from strategic partners including Ningde Times[26] - The company signed a cooperation framework agreement with the Jiangxi Yichun Economic and Technological Development Zone for investment in lithium battery materials and resource development[26] Research and Development - Research and development expenses increased by 49.28% to ¥42,398,751.79, mainly due to higher personnel costs[9] - Research and development expenses increased to ¥42.40 million, up from ¥28.40 million, indicating a focus on innovation[39] Financial Challenges - The company reported a net cash outflow from operating activities of approximately ¥249.28 million, contrasting with a net inflow of ¥7.25 million in the previous period[47] - The company’s financial expenses surged by 624.19% to ¥14,495,241.50, primarily due to increased interest expenses from bank loans[9] - The company experienced a decrease in investment income, reporting a loss of ¥121.47 thousand compared to a gain of ¥10.52 million in the previous period[39] - Total cash inflow from financing activities reached 1,769,169,088.03, while cash outflow was 9,796,405.50, resulting in a net cash flow from financing activities of 1,759,372,682.53[50] Share Issuance and Ownership - The company issued a total of 66,577,896 shares at a price of 22.53 CNY per share, raising approximately 1.5 billion CNY for investment in new energy vehicle projects and working capital[25] - The company has a total of 81,307,367 restricted shares at the end of the reporting period, with 3,195,510 shares released during the period[24] - The company’s management has released a total of 6,657,790 shares from lock-up restrictions as part of the initial public offering[18] - The company has multiple strategic investors, including Sichuan Fulian Industrial Group, participating in the share issuance[25] Profitability Indicators - The weighted average return on equity improved to 8.00%, up from 4.75% year-on-year, indicating better profitability[3] - The company’s tax expenses for the period were approximately ¥18.36 million, up from ¥6.90 million in the previous period, indicating higher profitability[39] - The company's gross profit margin improved significantly, reflecting operational efficiency and cost management strategies[9]