SYEP(SZ:300867)2022-04-27 16:00Financial Performance - The company's revenue for Q1 2022 was ¥495,237,802.42, representing an increase of 86.55% compared to ¥265,469,787.18 in the same period last year[7] - Net profit attributable to shareholders decreased by 40.58% to ¥72,888,352.02 from ¥122,670,292.08 year-on-year[7] - Basic and diluted earnings per share fell by 40.58% to ¥0.2682 from ¥0.4514 in the same period last year[7] - The net profit excluding non-recurring gains and losses was RMB 71.77 million, showing a year-on-year increase of 3.69%[22] - Operating profit for Q1 2022 was CNY 87.46 million, compared to CNY 154.24 million in Q1 2021, indicating a decline of approximately 43.3%[36] - The company reported a total comprehensive income of CNY 72.87 million for Q1 2022, compared to CNY 122.63 million in Q1 2021, reflecting a decrease of approximately 40.5%[37] Cash Flow and Assets - The net cash flow from operating activities increased significantly by 246.71% to ¥101,286,556.88 compared to ¥29,213,442.38 in the previous year[7] - Total assets at the end of the reporting period were ¥8,007,050,113.75, a 2.52% increase from ¥7,809,933,530.15[9] - The total cash and cash equivalents at the end of Q1 2022 amounted to ¥141,281,472.09, an increase from ¥118,582,749.27 in the same period last year[41] - The total cash outflow for operating activities was ¥215,547,804.12, compared to ¥199,821,319.08 in the previous year, indicating an increase of approximately 8%[40] - The net cash flow from investment activities was negative at -¥135,984,038.80, compared to -¥349,476,792.24 in the previous year, showing an improvement of approximately 61%[41] Operational Highlights - The company processed 20.31 million tons of domestic sewage in Q1 2022, an increase of 8.08% compared to the same period last year[22] - The total amount of waste received at the operational waste incineration power plants was 1.39 million tons, up 24.95% year-on-year[22] - The power generation volume reached 494 million kWh, reflecting a year-on-year growth of 44.08%[22] - The on-grid electricity volume was 423 million kWh, which is a 41.66% increase compared to the previous year[22] Projects and Developments - The company is currently constructing several projects, including the Quanzhou Saint Yuan kitchen waste treatment project and the Qingyang Saint Yuan Phase II project[23] - The company has completed the construction of 6 distributed photovoltaic power stations with a total installed capacity of 4,594.60 KW[25] - The company plans to build 7 distributed photovoltaic projects in 2022, which will primarily operate on a "self-use first, surplus electricity online" model, effectively reducing power consumption and costs[26] - The company is advancing the hydrogen energy project, having signed a cooperation agreement to establish a hydrogen energy research institute, focusing on the demand for new energy in specific sectors[28] Challenges and Strategic Focus - The company faced challenges due to the pandemic but maintained orderly progress in its operations[22] - The significant difference in revenue and net profit growth rates is attributed to high fair value changes from previous investments and new projects not yet recognized for national subsidies[23] - The company aims to enhance operational efficiency and project capacity utilization through refined management practices while seizing opportunities in the new energy sector[26] - The company is actively expanding its solid waste disposal scope, including integrated sanitation projects and waste classification disposal[25] Financial Liabilities - Total liabilities increased to CNY 4.71 billion in Q1 2022 from CNY 4.59 billion in Q1 2021, marking an increase of about 2.4%[33] - The company's current liabilities include short-term loans of approximately 33.18 million, up from 25.54 million in the previous period[32] - The company's financial expenses increased by 51.37% to ¥32,575,411.83 due to expanded operations and increased interest liabilities[15]