MINDEO(SZ:300656)2022-04-26 16:00Financial Performance - The company's revenue for Q1 2022 was ¥88,163,087.56, representing a 2.43% increase compared to ¥86,072,764.54 in the same period last year[3] - Net profit attributable to shareholders for Q1 2022 was ¥13,803,289.84, up 6.94% from ¥12,907,040.21 in the previous year[3] - Basic earnings per share for Q1 2022 were ¥0.1086, a 0.84% increase from ¥0.1077 in the same period last year[11] - Total operating revenue for Q1 2022 was CNY 88,163,087.56, an increase of 2.43% compared to CNY 86,072,764.54 in the previous year[29] - Net profit for Q1 2022 reached CNY 13,730,780.35, representing a 10.81% increase from CNY 12,392,756.30 in Q1 2021[30] - The company reported a comprehensive income total of CNY 13,456,343.96, up from CNY 12,855,493.39 in the previous year[31] Cash Flow - The net cash flow from operating activities increased by 98.38%, reaching ¥13,526,453.39 compared to ¥6,818,440.27 in Q1 2021[10] - The net cash flow from operating activities was ¥13,526,453.39, an increase from ¥6,818,440.27 in the previous year[33] - Cash inflow from operating activities was CNY 124,253,312.30, compared to CNY 123,367,958.73 in Q1 2021[32] - Cash inflow from investment activities totaled ¥145,544,195.89, compared to ¥66,705,245.59 in the same period last year[33] - The net cash flow from investment activities was -¥499,433,234.18, significantly lower than -¥14,427,009.71 in the previous year[33] - Cash inflow from financing activities reached ¥532,173,104.04, a substantial increase from ¥31,285,918.24 in the prior year[33] - The net cash flow from financing activities was ¥492,619,807.94, compared to ¥5,369,570.84 in the same period last year[33] - The total cash and cash equivalents at the end of the period were ¥40,840,832.29, down from ¥68,928,434.29 a year ago[33] - The company reported a decrease in cash outflow from operating activities, which was ¥110,726,858.91 compared to ¥116,549,518.46 previously[33] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,321,228,934.87, a 58.87% increase from ¥831,666,633.06 at the end of the previous year[3] - The total liabilities decreased to CNY 241,623,242.99 from CNY 263,806,820.89 year-over-year[30] - Shareholders' equity attributable to the parent company increased by 92.01%, amounting to ¥1,068,053,568.85 compared to ¥556,235,179.65 at the end of the previous year[3] Investment and Development - Investment income surged by 12,147.94% in Q1 2022, attributed to higher net profits from the associated company Zhejiang Jingrui Electronics Technology Co., Ltd.[9] - The company plans to raise up to 50 million RMB through a private placement to enhance its power semiconductor industry chain and core competitiveness[19] - The company completed a private placement on December 28, 2021, issuing 10,993,843 shares at a price of 45.48 RMB per share, raising approximately 499.99 million RMB[19] - The company increased its investment in Zhejiang Guangxin Microelectronics by 15 million RMB, raising its ownership to 48.83%[21] - A wholly-owned subsidiary, Mind Electronics (Lishui) Co., Ltd., was established with an investment of 20 million RMB to support strategic development needs[22] - The company plans to use 38 million RMB of raised funds to increase capital in its wholly-owned subsidiary, Mind Electronics (Lishui) Co., Ltd.[22] Operational Highlights - The barcode recognition business faced a slight impact due to a week-long production halt caused by pandemic control measures, but is expected to recover quickly with a new 2D scanning engine set to launch in Q2[17] - The power semiconductor business is stable with sufficient orders, and a new 6-inch wafer foundry has begun small-scale production, with plans to increase capacity in Q2[18] - A successful development of a separation gate low-voltage MOSFET has been achieved, with a yield rate exceeding 99%, and it has entered mass production[18] - The Zhejiang Guangxin Microelectronics project is progressing rapidly, with plans to complete the main plant by Q2 2022 and commence production in H1 2023[18] - Zhejiang Jingrui Electronics has achieved a net profit of approximately 11 million RMB in Q1 2022, with a current capacity of 130,000 pieces per month, aiming to expand to over 250,000 pieces per month by the end of 2022[18] Cost Management - Financial expenses decreased by 49.12% compared to the same period last year, primarily due to increased interest income from bank deposits[9] - Financial expenses decreased to CNY 1,318,336.53 from CNY 2,591,317.00 in Q1 2021, indicating improved cost management[30] Research and Development - Research and development expenses for Q1 2022 totaled CNY 5,893,657.22, an increase from CNY 5,003,132.87 in the previous year[30] Miscellaneous - The company did not undergo an audit for the first quarter report[34] - The company has made changes to its fundraising project partners and implementation locations, shifting from external collaboration to in-house capabilities[20] - The company's inventory increased to approximately 106.63 million RMB from 83.33 million RMB at the beginning of the year[25] - The company's short-term borrowings decreased slightly to approximately 153.93 million RMB from 155.78 million RMB at the beginning of the year[26] - The company's cash and cash equivalents increased to approximately 40.94 million RMB from 34.25 million RMB at the beginning of the year[25] - As of March 31, 2022, the company's total assets amounted to approximately 1.32 billion RMB, an increase from 831.67 million RMB at the beginning of the year[26] - The cash flow from investment activities included ¥644,500,000.00 in cash paid for investments, a significant increase from ¥73,900,000.00 last year[33] - The company experienced a negative impact of -¥18,426.45 from exchange rate fluctuations on cash and cash equivalents[33]