ZJBC(000889)2022-04-29 16:00Financial Performance - The company's revenue for Q1 2022 was ¥423,145,259.68, a decrease of 28.06% compared to ¥588,189,419.30 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥9,000,197.45, representing a decline of 158.60% from a profit of ¥15,359,346.26 in the previous year[4] - Total operating revenue for Q1 2022 was CNY 423,145,259.68, a decrease of 28.1% compared to CNY 588,189,419.30 in the same period last year[18] - Net loss for Q1 2022 was CNY 9,262,085.80, compared to a net profit of CNY 15,682,745.07 in Q1 2021, representing a significant decline[19] - The company's total equity attributable to shareholders was CNY 328,920,937.60, down from CNY 337,921,135.04 year-over-year[19] Cash Flow and Liquidity - The net cash flow from operating activities was -¥226,505,604.63, showing a slight improvement of 2.76% compared to -¥232,940,333.64 in the same period last year[4] - Cash inflow from operating activities was CNY 349,858,442.10, down 39.4% from CNY 577,449,243.37 in the previous year[21] - The ending cash and cash equivalents balance was 140,850,791.52 CNY, down from 406,276,086.80 CNY in the previous quarter[22] - The cash flow from operating activities showed a decrease in outflows, indicating potential operational efficiency improvements[22] - The company is focusing on managing cash flows effectively amidst challenging market conditions[22] Assets and Liabilities - Total assets decreased by 8.84% to ¥1,345,522,790.18 from ¥1,475,971,339.40 at the end of the previous year[4] - The company's total liabilities decreased to CNY 1,016,347,645.42 from CNY 1,137,534,108.85, a reduction of approximately 10.7%[19] - Cash and cash equivalents decreased significantly from CNY 383,727,988.88 to CNY 202,749,249.58, a reduction of about 47.3%[15] - Accounts receivable increased from CNY 491,697,134.06 to CNY 540,559,610.32, indicating an increase of approximately 9.9%[15] - Inventory decreased from CNY 53,567,167.61 to CNY 46,295,972.26, reflecting a decline of about 13.6%[15] Expenses and Costs - Total operating costs for Q1 2022 were CNY 432,309,857.05, down 25.3% from CNY 578,147,318.08 year-over-year[19] - The company experienced a 54.87% reduction in selling expenses, amounting to a decrease of ¥4,508,000, mainly due to lower salaries and promotional costs[7] - Research and development expenses for Q1 2022 were CNY 17,294,984.02, a decrease of 15.5% compared to CNY 20,427,739.03 in Q1 2021[19] - The company reported a decrease in sales expenses to CNY 3,707,879.16 from CNY 8,215,869.46, a reduction of 54.9%[19] - The company recorded other income of CNY 2,328,429.68, down from CNY 3,293,916.16 in the previous year, indicating a decline of 29.3%[19] Legal and Regulatory Matters - The company is currently involved in a significant arbitration matter related to a 2018 asset purchase agreement, which poses a major arbitration risk[12] - The company has ongoing litigation regarding the annulment of resolutions passed in late 2021 concerning a major asset restructuring, with a court hearing scheduled for June 16, 2022[13] - The company organized an expert consultation to address the arbitration matter, involving legal scholars from prominent universities[12] - The company has not reported any related party relationships among its top shareholders, ensuring transparency in ownership[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 66,498[10] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.0096, compared to CNY 0.0164 in the same period last year[20] Audit and Reporting - The company did not conduct an audit for the first quarter report[23] - The company did not report any new product launches or significant technological advancements during this quarter[4]