HNAC(SZ:300490)2022-04-27 16:00Financial Performance - The company's revenue for Q1 2022 was ¥465,061,836.78, representing a 74.55% increase compared to ¥266,439,409.73 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥7,787,042.60, a decline of 332.52% from a profit of ¥3,348,951.31 in the previous year[4] - The net loss for the first quarter of 2022 was RMB 11,268,159.76, compared to a profit of RMB 2,631,302.94 in the same period last year[26] - The company reported a total comprehensive loss of -11,129,448.23 CNY for the quarter, compared to a comprehensive income of 919,777.99 CNY in the same period last year[28] Cash Flow - The operating cash flow for the period was a negative ¥336,194,811.55, worsening by 618.07% compared to a negative ¥46,819,463.97 in the same period last year[4] - Net cash flow from operating activities decreased by 618.07% to -¥336,194,811.55, primarily due to increased cash outflow[14] - Operating cash outflow increased by 79.41% to ¥672,571,987.45 compared to the previous year[14] - The net cash flow from investing activities increased by 53.78% to -¥23,389,692.41, reflecting the rise in cash outflow[14] - The net cash flow from financing activities fell by 43.24% to ¥343,424,848.16, resulting from lower cash inflow[14] - Net increase in cash and cash equivalents dropped by 102.98% to -¥16,189,270.06, due to significant increases in operating cash outflow and decreased financing inflow[14] - Cash and cash equivalents at the end of the period totaled 225,620,123.39 CNY, down from 829,234,377.06 CNY at the end of the previous period[31] Assets and Liabilities - The company's total assets at the end of the period were ¥5,100,751,856.91, a 4.12% increase from ¥4,899,133,926.85 at the end of the previous year[4] - The company's total liabilities as of March 31, 2022, were RMB 2,525,981,230.56, up from RMB 2,351,994,284.19 at the beginning of the year, indicating an increase of about 7.38%[25] - As of March 31, 2022, total current assets amounted to RMB 3,375,167,174.40, an increase from RMB 3,138,455,018.61 at the beginning of the year, representing a growth of approximately 7.55%[24] Operating Costs and Expenses - The company's gross profit margin decreased due to a 99.48% increase in operating costs, which reached ¥357,339,714.84 compared to ¥179,134,793.51 last year[9] - The company's operating costs for the first quarter of 2022 were RMB 475,239,149.02, up from RMB 269,562,246.94 in the previous year, reflecting a rise of approximately 76.25%[26] - The company incurred operating expenses of 672,571,987.45 CNY, compared to 374,872,564.90 CNY in the previous period, reflecting increased operational costs[31] Research and Development - Research and development expenses increased by 37.76% to ¥30,808,544.58, up from ¥22,363,992.84 in the previous year[11] - Research and development expenses for the first quarter of 2022 were RMB 30,808,544.58, an increase from RMB 22,363,992.84 in the previous year, indicating a growth of about 37.8%[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,152[16] - The largest shareholder, Changsha Huanneng Self-Control Group Co., Ltd., holds 27.64% of shares, amounting to 90,615,331 shares[16] Financing Activities - Short-term borrowings rose by 38.15% to ¥602,729,859.19, compared to ¥436,288,616.14 at the beginning of the period[10] - Financing cash inflow decreased by 33.35% to ¥558,305,970.91, mainly due to reduced cash from convertible bond issuance[14] - The company plans to issue convertible bonds totaling up to RMB 1 billion for projects including the acquisition of a 96.20% stake in Chengbu Shanneng and energy storage projects[21] Credit and Receivables - The number of receivables financing increased by 50.64% to ¥162,466,338.33, up from ¥107,849,953.02 at the beginning of the period[10] - The company reported a significant increase in credit impairment losses by 126% to a loss of ¥1,762,721.74 compared to a gain of ¥6,780,812.98 in the previous year[11] - The company reported an increase in accounts receivable to RMB 1,428,443,343.12 from RMB 1,414,835,440.74 at the beginning of the year, showing a slight increase of about 0.02%[23] Inventory - The company’s inventory as of March 31, 2022, was RMB 677,951,682.98, up from RMB 541,470,166.74 at the beginning of the year, representing a growth of approximately 25.23%[23]