Youhao Group(600778)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 564,110,382.10, representing a decrease of 5.29% compared to the same period last year[3] - The net profit attributable to shareholders of the listed company was CNY 11,608,884.54, down 72.94% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3,771,050.06, a decline of 90.87% compared to the previous year[3] - Basic and diluted earnings per share were both CNY 0.0373, down 72.91% from the same period last year[3] - Net profit for Q1 2022 was CNY 13,490,271.24, a decline of 69.9% from CNY 44,818,354.71 in Q1 2021[21] - Earnings per share for Q1 2022 was CNY 0.0373, compared to CNY 0.1377 in Q1 2021, reflecting a decrease of 72.9%[22] Cash Flow - The net cash flow from operating activities was CNY 107,689,061.94, decreasing by 39.78% year-on-year[3] - Cash inflow from operating activities in Q1 2022 was CNY 1,619,350,915.80, down from CNY 1,833,102,757.17 in Q1 2021, a decrease of 11.6%[24] - Total cash outflow from operating activities amounted to CNY 1,511,661,853.86, down from CNY 1,654,278,374.87, indicating a reduction of 8.6%[25] - The net cash flow from operating activities was CNY 107,689,061.94, a decrease of 39.7% compared to CNY 178,824,382.30 in the previous year[25] - The ending balance of cash and cash equivalents was CNY 361,374,109.85, an increase from CNY 251,431,880.78 year-over-year[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,699,609,842.36, a decrease of 6.62% from the end of the previous year[3] - As of March 31, 2022, the company's total assets amounted to CNY 4.6996 billion, a decrease from CNY 5.0328 billion as of December 31, 2021[16] - The company's current liabilities totaled CNY 2.728 billion as of March 31, 2022, down from CNY 2.9687 billion at the end of 2021[17] - Total liabilities as of Q1 2022 were CNY 4,119,631,230.24, down from CNY 4,467,006,682.32 in the previous year[21] - Total equity attributable to shareholders was CNY 563,397,225.42, an increase from CNY 551,128,649.16 in Q1 2021[21] Non-Recurring Items - The company reported a non-recurring gain of CNY 7,837,834.48, primarily from the disposal of non-current assets[5] - The company plans to terminate the lease of the "Youhao Fashion Shopping City" project, incurring a compensation payment of CNY 24,239,700, which will reduce the net profit attributable to shareholders for 2022 by the same amount[9] - The company signed a supplementary agreement regarding land and property expropriation, which is expected to increase the net profit attributable to shareholders by CNY 100.2707 million in 2022[14] Operational Changes - The company signed a supplementary agreement with Xinjiang Harmony Real Estate Development Co., Ltd., reducing the total rental payment for the Changji Youhao Fashion Shopping Center project by CNY 153.7041 million, with annual rent set at CNY 5 million from July 1, 2022, to June 30, 2030[10] - The company signed a lease agreement with Xinjiang Leading Industry (Group) Co., Ltd. for the Hami Plaza North Road store, transitioning to self-management after terminating the previous commercial management contract[11] Financial Expenses and Income - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 19,504,121.59 in Q1 2022 from CNY 11,799,086.94 in Q1 2021[21] - The company experienced a loss in investment income of CNY 8,889,787.50 in Q1 2022, compared to a gain of CNY 2,495,767.77 in Q1 2021[21] Accounting Practices - The company did not apply the new accounting standards for the current year, indicating a continuation of previous accounting practices[26]