LZCIC(600423)2021-04-28 16:00Financial Performance - Operating revenue for the period reached CNY 28,928,514.61, a 34.30% increase year-on-year[6] - Net profit attributable to shareholders was CNY 11,708,148.33, representing a significant increase of 10,439.98% compared to the same period last year[6] - The company reported a basic earnings per share of CNY 0.01, compared to CNY 0.00 in the previous year[6] - The net profit for Q1 2021 was CNY 11,708,148.33, compared to a net loss of CNY 111,083.26 in Q1 2020, indicating a significant turnaround[22] - The overall comprehensive income for Q1 2021 was CNY 11,708,148.33, reflecting a positive financial performance compared to the previous year[22] Cash Flow - The net cash flow from operating activities was CNY 9,578,191.00, a recovery from a negative cash flow of CNY -119,849,734.57 in the previous year[6] - Operating cash inflow for Q1 2021 was CNY 34,299,504.04, a substantial increase from CNY 11,089,739.70 in Q1 2020, reflecting improved sales performance[24] - The net cash flow from operating activities for Q1 2021 was CNY 9,578,191.00, recovering from a net outflow of CNY 119,849,734.57 in the same period last year[25] - The total cash outflow from operating activities in Q1 2021 was CNY 24,721,313.04, significantly lower than CNY 130,939,474.27 in Q1 2020, indicating better cost management[25] Assets and Liabilities - Total assets increased by 2.18% to CNY 479,585,458.42 compared to the end of the previous year[6] - As of March 31, 2021, the total assets amounted to 479.59 million yuan, an increase from 469.37 million yuan at the end of 2020[18] - The company's total liabilities as of March 31, 2021, were 74.70 million yuan, slightly down from 76.45 million yuan at the end of 2020[18] - The company’s cash and cash equivalents net increase was CNY 129 million, primarily due to reduced employee settlement payments compared to the previous year[11] - The company’s cash and cash equivalents increased to 363.92 million yuan from 354.19 million yuan at the end of 2020[17] Operational Efficiency - Management expenses decreased by 74.33% year-on-year, attributed to a significant reduction in the number of employees[11] - The company did not report any new investment or financing activities during Q1 2021, focusing instead on operational efficiency[25] - The company advises investors to be cautious due to ongoing risks related to its operational scale and product diversity[13] Sales and Inventory - Sales revenue from goods and services received in Q1 2021 reached CNY 30,476,595.64, compared to CNY 10,430,901.66 in Q1 2020, marking a growth of approximately 192%[24] - Inventory increased by 120.51% compared to the end of the previous year, mainly due to an increase in raw material stock[10] - The cost of goods sold in Q1 2021 was 18.45 million yuan, up from 14.07 million yuan in the same period last year[19] Return on Equity - The weighted average return on equity increased by 2.82 percentage points to 2.85%[6] Production Capacity - The company has a design production capacity of 100,000 tons of hydrogen peroxide, but its operational scale remains small[13] Other Financial Metrics - The company’s net profit for Q1 2021 was significantly impacted by management expenses of 1.89 million yuan, which were higher than the previous year's[19] - Cash and cash equivalents at the end of Q1 2021 stood at CNY 361,834,014.48, slightly down from CNY 362,824,218.45 at the end of Q1 2020[25] - The company is not applying the new leasing standards for the year 2021, which may impact future financial reporting[26]