Fushine(SZ:300497)2022-04-28 16:00Financial Performance - The company's revenue for Q1 2022 was CNY 402,333,468.40, representing a 1.82% increase compared to CNY 395,130,083.80 in the same period last year[7]. - Net profit attributable to shareholders decreased by 62.39% to CNY 27,950,530.66 from CNY 74,308,610.16 year-on-year[7]. - Basic earnings per share dropped by 64.29% to CNY 0.05 from CNY 0.14 in the same period last year[7]. - The company reported a 68.05% decrease in total profit due to rising raw material prices and increased operating costs[27]. - The decline in performance was primarily due to rising raw material prices, leading to a significant drop in overall gross margin[39]. - Net profit for Q1 2022 was CNY 23,281,932.07, a decrease of 68.5% compared to CNY 74,164,561.86 in Q1 2021[57]. Cash Flow - The net cash flow from operating activities was negative at CNY -48,959,708.08, a decrease of 235.79% compared to CNY 36,055,298.94 in the previous year[7]. - The company's cash flow from operating activities was negatively impacted, resulting in a net cash flow of CNY -48,959,708.08[61]. - The cash inflow from operating activities was CNY 284,729,838.49, an increase from CNY 235,086,088.28 in the previous year, representing a growth of approximately 21%[61]. - The cash inflow from investment activities was CNY 12,222,336.94, while the cash outflow was CNY 221,533,796.46, resulting in a net cash outflow of CNY -209,311,459.52[62]. - The cash inflow from financing activities was CNY 606,847,041.00, an increase from CNY 347,000,000.00 in the previous year, marking a growth of approximately 75%[62]. - The net cash flow from financing activities was CNY 292,333,453.01, compared to CNY 142,609,540.58 in the same period last year, indicating a significant increase[62]. Assets and Liabilities - Total assets increased by 5.88% to CNY 4,953,639,415.57 from CNY 4,678,491,173.43 at the end of the previous year[7]. - Total liabilities rose to CNY 2,085,861,950.57 in Q1 2022, compared to CNY 1,767,183,937.38 in Q1 2021, marking an increase of 18.0%[54]. - The total non-current assets amounted to CNY 2,523,355,287.47 in Q1 2022, an increase from CNY 2,366,935,280.24 in Q1 2021, representing a growth of 6.6%[55]. Shareholder Information - As of the end of the reporting period, the total number of common shareholders was 47,680[33]. - The largest shareholder, Bao Jianhua, holds 20.88% of the shares, with 86,111,856 shares pledged[33]. - The company repurchased a total of 11,355,900 shares, accounting for 2.06% of the total share capital, with a total payment of 174,830,966 RMB[34]. Investments and Projects - The company’s investment income rose by 149.66% year-on-year, reflecting improved performance from investments[26]. - The company is actively developing lithium battery electrolyte additive projects to meet the growing market demand, ensuring stable raw material supply[44]. - The company has signed contracts for CDMO business with a total contract amount of RMB 35.11 million, including RMB 20.9 million for the production of the intermediate for Parovide[43]. - In 2022, the company expects to engage in related transactions with Lingfu Pharmaceutical Research Institute amounting to RMB 60 million, with a potential adjustment based on actual execution[41]. Operational Insights - The company experienced a 30.64% increase in accounts receivable compared to the beginning of the period, attributed to increased credit sales[14]. - Long-term borrowings increased by 61.76% compared to the beginning of the period, indicating a rise in financing activities[21]. - The company is in the process of ramping up production capacity for new projects, which has increased fixed asset depreciation[39]. - The company implemented an employee stock ownership plan in 2021, resulting in higher management expense amortization[39]. - The company plans to strengthen its core business and invest in new business formats, focusing on talent development and project construction[39]. - The company focuses on the integration of pharmaceutical intermediates, active pharmaceutical ingredients, and formulations to enhance its core competitiveness and product value[40]. Research and Development - Research and development expenses for Q1 2022 were CNY 16,774,533.75, a decrease of 11.9% from CNY 18,910,244.93 in Q1 2021[57].