Financial Performance - The company's revenue for Q1 2021 was ¥148,154,406.10, representing a 63.47% increase compared to ¥90,631,287.95 in the same period last year[7] - Net profit attributable to shareholders was ¥22,388,840.16, a significant increase of 168.04% from ¥8,352,801.68 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥21,752,078.44, up 165.59% from ¥8,189,964.22 in the previous year[7] - The basic earnings per share increased to ¥0.09, reflecting a 125.00% rise compared to ¥0.04 in the same period last year[7] - Operating revenue increased by 63.47% year-on-year, attributed to the recovery of operations as the domestic COVID-19 pandemic was effectively controlled[14] - Net profit increased by 168.04% year-on-year, mainly due to the increase in sales[14] - Total operating revenue for Q1 2021 was CNY 148,154,406.10, an increase from CNY 90,631,287.95 in the previous period[35] - The total profit for Q1 2021 was CNY 27,309,061.10, significantly higher than CNY 9,842,140.37 in the prior year[38] - The company's operating profit for Q1 2021 was CNY 27,309,076.37, compared to CNY 9,972,140.37 in the previous year, indicating a substantial increase[38] - The net profit for Q1 2021 reached CNY 22,388,840.16, compared to CNY 8,352,801.68 in the same period last year, representing a growth of 167.5%[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,367,258,606.34, a 2.20% increase from ¥1,337,845,234.11 at the end of the previous year[7] - The net assets attributable to shareholders were ¥1,311,835,182.04, up 1.74% from ¥1,289,446,341.88 at the end of the previous year[7] - The company's total equity as of March 31, 2021, was CNY 1,311,835,182.04, up from CNY 1,289,446,341.88 at the end of 2020[30] - Total liabilities increased to CNY 55,423,424.30 in Q1 2021 from CNY 48,398,892.23 in the previous period[30] - Accounts receivable increased by 106.30% compared to the beginning of the year, primarily due to a significant increase in sales during the reporting period[14] - Accounts receivable increased significantly to CNY 83,311,078.94 from CNY 48,405,193.01 in the previous period[32] Cash Flow - The net cash flow from operating activities was negative at -¥5,753,974.10, a decline of 414.65% compared to ¥1,828,669.64 in the same period last year[7] - Cash flow from operating activities decreased by 414.65%, as the increase in cash inflows was less than the increase in cash outflows[14] - The cash flow from operating activities was CNY 95,349,095.58, an increase from CNY 82,807,294.64 in the previous period[44] - The total cash inflow from operating activities was 95,516,493.72 CNY, up from 82,974,047.24 CNY in the previous year[45] - The total cash outflow from operating activities was 101,270,467.82 CNY, compared to 81,145,377.60 CNY in the previous year[45] - The company experienced a net decrease in cash and cash equivalents of 29,951,150.85 CNY during the period[46] Expenses and Financials - Tax expenses increased by 230.36% year-on-year, driven by higher sales volume and total profit[14] - Financial expenses decreased by 714.34% year-on-year, as there were no interest expenses on borrowings and interest income increased[14] - Research and development expenses for Q1 2021 were CNY 3,553,191.35, compared to CNY 2,868,610.89 in the previous period[36] - The company reported a financial income of CNY 1,769,895.70 in Q1 2021, compared to CNY 525,517.97 in the same period last year[40] - The company experienced a credit impairment loss of CNY -1,800,908.18 in Q1 2021, compared to CNY -489,621.89 in the previous year[41] - Net profit for Q1 2021 was impacted by credit impairment losses of CNY -3,342,765.80, compared to CNY -1,289,317.60 in the previous period[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,003[10] - The largest shareholder, Chen Jinpei, holds 52.79% of the shares, totaling 137,265,800 shares[10] Government Support - The company received government subsidies amounting to ¥420,191.23 during the reporting period[8] Other Financial Metrics - Other non-current assets increased by 110.79% compared to the beginning of the year, mainly due to an increase in prepaid equipment payments[14] - The company reported a decrease in inventory to CNY 110,291,213.08 from CNY 111,263,933.43 at the end of 2020[32] - The company used a total of 6.6673 million RMB from the raised funds by March 31, 2021, leaving a balance of 409.3001 million RMB[18] - The company reported a total cash outflow from financing activities of 7,817,564.53 CNY, compared to 101,226,108.84 CNY in the previous year, reflecting a reduction in financing costs[46] - The net cash flow from financing activities was -7,817,564.53 CNY, an improvement from -89,951,991.65 CNY year-over-year[46]

Financial Performance - The total revenue for JinFu Technology in 2020 was ¥514,361,903.74, representing a decrease of 14.01% compared to ¥598,163,664.03 in 2019[20]. - The net profit attributable to shareholders in 2020 was ¥88,208,974.16, down 14.99% from ¥103,767,892.25 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥83,582,432.65, a decline of 17.28% from ¥101,045,329.09 in 2019[20]. - The net cash flow from operating activities was ¥133,745,865.15, which is a decrease of 14.53% compared to ¥156,490,792.08 in 2019[20]. - The basic earnings per share for 2020 was ¥0.44, down 16.98% from ¥0.53 in 2019[20]. - The gross profit margin for the rubber and plastic products industry was 27.84%, down 4.86% from the previous year[52]. - The company reported a total revenue of 1.5 billion in 2020, representing a year-over-year growth of 15%[180]. - The company projects a revenue growth of 10% for the next fiscal year, targeting 1.65 billion in total revenue[180]. Assets and Investments - The total assets at the end of 2020 were ¥1,337,845,234.11, an increase of 56.86% from ¥852,866,642.61 at the end of 2019[20]. - The net assets attributable to shareholders increased by 81.38% to CNY 1,289,446,341.88 from CNY 710,920,067.72[21]. - The total investment amount for the reporting period was 135,948,560.16, reflecting a 48.05% increase compared to the previous year[69]. - The company has committed to invest RMB 29,256.66 million in a plastic bottle cap production base, with 3.41% of the project completed by the end of 2020[81]. - The company has invested RMB 2,408.88 million of its own funds into projects that were later replaced by the raised funds[81]. Cash Flow and Financing - The net cash flow from financing activities increased by 243.64% due to the funds raised from the initial public offering[64]. - The total cash inflow from financing activities increased by 243.64% to approximately 726.81 million CNY[63]. - The company reported a significant increase in cash flow from financing activities, indicating strong investor confidence following the IPO[64]. - The company allocated RMB 5,000.00 million of the raised funds to supplement working capital and RMB 4,000.00 million for cash management using idle funds[78]. Business Operations and Strategy - JinFu Technology has not changed its main business since its listing, indicating stability in its operations[19]. - The company focuses on R&D for new products and technologies based on customer needs and market trends, enhancing its competitive edge[33]. - The company operates a direct sales model, ensuring long-term and stable partnerships with clients through framework agreements[32]. - The company plans to enhance production capacity and expand market share over the next three years, focusing on R&D investment and product diversification[90]. - The company aims to launch new products such as pull-ring caps and seasoning caps, increasing the diversity of its main business products[92]. Market Position and Client Relationships - The company has established long-term partnerships with major clients such as China Resources Beverage and Coca-Cola, enhancing business stability[38]. - The company has established itself as one of the largest suppliers of plastic anti-theft bottle caps in China, serving major clients like Coca-Cola and Danone[35]. - The top five customers account for over 90% of the company's total revenue, indicating a high customer concentration risk[94]. - The company sources over 50% of its materials from its top five suppliers, which poses a supplier concentration risk[95]. Research and Development - The company holds 102 patents, including 28 invention patents, which support its competitive advantage in the plastic anti-theft bottle cap market[40]. - Research and development expenses amounted to 14.15 million CNY, accounting for 2.75% of total revenue, an increase from 2.54% in the previous year[61]. - New product developments included bulk supply of new products like seasoning caps and carbonated caps, contributing to new revenue growth points[46]. Risk Management - The company has implemented strict governance and risk management measures to enhance operational efficiency and compliance[48]. - The company has identified risks related to the impact of the COVID-19 pandemic, including potential decreases in production capacity and supply chain disruptions[101]. - The company faces seasonal sales risks, particularly in the beverage packaging sector, which may affect production and inventory management[99]. - The company is committed to maintaining high product quality standards to mitigate food safety risks, which are increasingly scrutinized by regulatory bodies[100]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥3.80 per 10 shares, based on a total of 260,000,000 shares[7]. - The cash dividend distribution represents 112.01% of the net profit attributable to the company's ordinary shareholders for the year 2020[108]. - The company has committed to maintaining certain shareholder restrictions for a period of 36 months post-IPO[111]. - The company’s controlling shareholder, Chen Jinpei, has not changed during the reporting period[162]. Employee and Management - The total number of employees in the company is 546, with 427 in the parent company and 119 in major subsidiaries[188]. - The total remuneration for directors and senior management during the reporting period amounts to 525.29 million CNY[188]. - The company conducts both internal and external training programs to enhance employee skills and overall quality[191]. Compliance and Legal Matters - The company has not engaged in any major litigation or arbitration matters during the reporting period[128]. - There were no significant penalties or rectification measures imposed on the company during the reporting period[129]. - The company strictly adheres to the Company Law and Securities Law, ensuring compliance with governance standards set by the China Securities Regulatory Commission (CSRC)[194].