GSAFETY(SZ:300523)2022-04-22 16:00Financial Performance - The company's revenue for Q1 2022 was CNY 191,334,411.60, representing a 49.17% increase compared to CNY 128,265,546.27 in the same period last year[2]. - Net profit attributable to shareholders was CNY 6,908,723.12, a significant turnaround from a loss of CNY 78,036,712.83 in the previous year, marking a 108.85% improvement[2]. - The company reported a weighted average return on equity of 0.48%, up from -5.05% in the previous year[2]. - The total operating revenue for Q1 2022 was CNY 191,334,411.60, an increase of 49.2% compared to CNY 128,265,546.27 in the same period last year[30]. - Net profit for Q1 2022 was CNY 18,490,927.85, a significant recovery from a net loss of CNY 76,377,070.06 in Q1 2021[31]. - The company reported a gross profit margin of approximately 14.5% for Q1 2022, compared to a negative margin in the previous year[30]. - The company achieved a basic earnings per share of CNY 0.03, recovering from a loss per share of CNY 0.34 in the previous year[31]. - The company reported other income of CNY 32,733,258.13, significantly higher than CNY 8,367,001.17 in the previous year, contributing to overall profitability[30]. Cash Flow and Financial Position - The net cash flow from operating activities improved to -CNY 43,425,112.57, a reduction of 82.79% in losses compared to -CNY 252,281,268.94 in the same period last year[2]. - Cash flow from operating activities showed a net outflow of CNY 43,425,112.57, an improvement from a net outflow of CNY 252,281,268.94 in the same quarter last year[33]. - The total cash inflow from financing activities was 130,756,765.16 CNY in Q1 2022, up from 118,415,902.19 CNY in Q1 2021[35]. - The net cash flow from financing activities improved to 9,665,293.07 CNY in Q1 2022, compared to a negative 9,065,623.80 CNY in Q1 2021[35]. - The cash and cash equivalents at the end of Q1 2022 were 494,781,594.38 CNY, a decrease from 328,639,912.40 CNY in Q1 2021[35]. - The company reported a decrease in cash and cash equivalents by 57,815,578.34 CNY in Q1 2022, compared to a decrease of 120,049,185.69 CNY in Q1 2021[35]. - The total liabilities decreased to CNY 1,674,731,439.76 from CNY 1,802,926,985.93, showing improved financial stability[30]. - The total equity attributable to shareholders of the parent company was CNY 1,431,193,844.86, slightly up from CNY 1,424,357,593.73[30]. Operational Highlights - The company secured over CNY 7 billion in contracts for urban lifeline safety engineering projects in Anhui province during the reporting period, contributing to a total of over CNY 34 billion in executed contracts and bids[7][8]. - The emergency management and urban safety sectors showed strong growth, with a focus on expanding the urban lifeline business nationwide[7]. - The company completed the construction acceptance of multiple major contracts related to the Hefei Urban Lifeline Engineering Safety Operation Monitoring System, with several segments already undergoing final audit[21]. - The company has made significant progress in the Angola Public Safety Integrated Platform project, with the national and backup centers officially in operation[22]. - Over 30 functional modules of the Tax Information Security and Management System project are now operational, with most remote site equipment delivered[23]. - The company has completed partial equipment installation and software data engineering for various contracts related to the Anhui Province Urban Lifeline Safety Engineering project[24]. Costs and Expenses - The financial expenses increased significantly by 784.40% to CNY 7,582,500.14 due to higher bank interest expenses[11]. - Total operating costs for Q1 2022 were CNY 224,132,740.13, up from CNY 210,671,844.67, reflecting a year-over-year increase of 6.9%[30]. - The income tax expense rose to ¥2,109,385.95, a significant increase of 218.67% from ¥661,943.37, attributed to higher profits leading to increased tax provisions[12]. - Cash paid for various taxes increased by 90.18% to ¥50,953,484.25 from ¥26,792,126.14, driven by higher VAT and corporate income tax payments[14]. - Research and development expenses increased to CNY 25,970,266.04, up from CNY 20,389,679.26, indicating a focus on innovation[30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,458, with no preferred shareholders[16]. - The top shareholder, China Telecom Group Investment Co., Ltd., holds 18.68% of the shares, followed by Xuanyuan Group with 12.05%[16]. Other Financial Metrics - The cash flow impact from exchange rate changes was negative, amounting to -¥54,809.72, reflecting adverse currency fluctuations[14]. - The company received government subsidies amounting to CNY 9,561,595.41, which are closely related to its normal business operations[4]. - The net cash flow from investment activities was -24,000,949.12 CNY in Q1 2022, compared to 141,261,463.36 CNY in Q1 2021, indicating a significant decline[35]. - The total cash inflow from investment activities was 90,184,360.72 CNY in Q1 2022, compared to 442,933,818.54 CNY in Q1 2021[35]. Audit Status - The company’s first quarter report was not audited[36].