QINCHUAN(000837)2022-04-28 16:00Revenue and Profit - Revenue for Q1 2022 was CNY 1,119,219,977.04, a decrease of 28.34% compared to CNY 1,561,944,133.56 in the same period last year[3] - Net profit attributable to shareholders was CNY 60,070,532.38, down 15.03% from CNY 70,692,101.35 year-on-year[3] - Basic earnings per share decreased by 34.51% to CNY 0.0668 from CNY 0.1020 in the previous year[3] - Total operating revenue for the current period is ¥1,119,219,977.04, a decrease of 28.3% compared to ¥1,561,944,133.56 in the previous period[26] - Net profit for the current period is ¥66,989,545.70, a decline of 23.2% from ¥87,198,286.00 in the previous period[29] - Earnings per share for the current period is ¥0.0668, compared to ¥0.1020 in the previous period[29] Cash Flow - Net cash flow from operating activities was negative at CNY -119,240,325.00, compared to a positive CNY 5,980,341.28 in the same period last year[3] - Total cash inflow from operating activities was 532,349,088.71, compared to 650,329,850.95 in the previous period[33] - Cash outflow for operating activities totaled 651,589,413.71, slightly increased from 644,349,509.67 in the previous period[33] - Cash flow from investing activities was -239,073,172.14, worsening from -26,296,795.23 in the previous period[33] - Net cash flow from financing activities was 114,691,213.18, a significant improvement from -117,448,957.79 in the previous period[36] - The ending cash and cash equivalents balance was 907,885,828.80, an increase from 542,803,417.64 in the previous period[36] Assets and Liabilities - Total assets increased by 3.74% to CNY 8,166,316,387.41 from CNY 7,872,086,105.12 at the end of the previous year[3] - The total liabilities of the company increased, with accounts payable rising to ¥1,244,182,461.34 from ¥1,164,868,500.66[19] - Total liabilities increased to ¥4,225,825,034.50 from ¥3,999,806,497.03, reflecting a growth of 5.6%[25] - Total equity attributable to shareholders of the parent company is ¥3,285,627,001.11, up from ¥3,224,497,080.12, indicating an increase of 1.9%[25] Borrowings and Financing - The company reported a significant increase in short-term borrowings, rising by 72.04% to CNY 895,560,566.11 from CNY 520,543,953.07[7] - Short-term borrowings increased significantly to ¥895,560,566.11 from ¥520,543,953.07, indicating a rise in leverage[19] - The company’s cash flow from financing activities improved by 197.65%, reaching CNY 114,691,213.18 compared to a negative CNY -117,448,957.79 in the previous year[10] Expenses - The company reported a decrease in sales expenses by 31.51% to CNY 34,632,368.20, reflecting cost-cutting measures in response to reduced revenue[7] - The company reported a decrease in sales expenses to ¥34,632,368.20 from ¥50,567,857.79, a reduction of 31.5%[26] - Research and development expenses for the current period are ¥34,475,753.57, an increase of 15.5% compared to ¥29,830,067.00 in the previous period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 73,125, with the largest shareholder, Shaanxi Fastech Automotive Transmission Group Co., Ltd., holding 35.19% of shares[11] - The company has a total of 110,499,048 unrestricted shares held by its largest shareholder, Shaanxi Fastech Automotive Transmission Group Co., Ltd.[11] Other Financial Metrics - The company’s weighted average return on equity decreased to 1.85% from 3.23% year-on-year[3] - The company’s receivables increased by 36.71% to CNY 921,007,346.57, indicating a rise in credit sales[7] - Accounts receivable increased to ¥921,007,346.57 from ¥673,672,028.92 year-on-year, indicating a significant rise in credit sales[16] - The company reported a significant increase in contract liabilities to ¥355,791,931.77 from ¥296,354,802.25 year-on-year, indicating growth in advance payments received[19] - Deferred income increased to ¥363,208,838.59 from ¥353,597,356.64, showing a growth of 2.0%[25]