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    JASIC Reports its First Quarter 2022 Financial Results

    On April 23rd, JASIC announced its 2022 first quarter business results. This quarter JASIC reached a 12.05% YoY growth rate in its total operating revenue while recorded a 14.52% YoY decrease in net profit attributable to shareholders.

    First Quarter 2022 Financial Performance

    JASIC total operating revenue amounted to RMB340.18 million ($53.57 million*) for the first quarter of 2022, up 12.05% compared to one year ago.


    Period
    2020-Q1
    2021-Q1
    2022-Q1
    Total operating revenue
    141,479,478.04
    303,596,900.73
    340,180,758.42




    Operating income plunged to RMB57.24 million, decreased by 13.53% year over year. Total profits were RMB57.10 million, down 14.01% compared with the first quarter of 2021. Net profit attributable to shareholders was RMB48.44 million, drop 14.52% from the previous year. Earnings per share were RMB0.10, falling 16.67% from the last year.

    The loss in profit is primarily attributable to the following factors:

    • The uncertainties caused by recent COVID-19 lockdowns in key Chinese cities
    • Macroeconomic headwinds aggravated by recent geopolitical crisis
    • The decrease of government subsidies
    • The corporate investment dividend is not yet credited to the company’s account
    • The free cash flow loss caused by the recent weakening Chinese yuan against the US dollar


    Period
    2020-Q1
    2021-Q1
    2022-Q1
    Operating income
    38,243,379.20
    66,195,368.52
    57,240,379.80
    Total profits
    33,653,737.74
    66,405,666.20
    57,100,640.68
    Net profit attributable to shareholders
    28,702,752.11
    56,669,853.04
    48,442,140.30
    Earnings per share
    0.06
    0.12
    0.10



    *exchange rate at the end of March 2022: US$1 = CNY6.3500