Quectel(SH:603236)2021-04-28 16:00Financial Performance - Net profit attributable to shareholders rose by 78.43% to CNY 60,520,545.72 year-on-year[12] - Operating revenue grew by 80.28% to CNY 1,856,151,534.38 compared to the same period last year[12] - Net profit after deducting non-recurring gains and losses surged by 329.96% to CNY 50,084,389.38 year-on-year[12] - Basic earnings per share increased by 80.65% to CNY 0.56[12] - The company reported a significant increase in capital reserves by 90.91% to RMB 2,222,679,824.68, attributed to the non-public issuance of shares[24] - The company reported a comprehensive income total of ¥61,886,048.23 for Q1 2021, compared to ¥34,204,717.54 in Q1 2020, a 81% increase[53] - The net profit for Q1 2021 was ¥60,520,545.72, up from ¥33,918,449.02 in Q1 2020, representing a 78% increase[50] - Operating profit for Q1 2021 was approximately ¥53.92 million, significantly higher than ¥16.58 million in Q1 2020, indicating an increase of 225.5%[58] Assets and Liabilities - Total assets increased by 35.35% to CNY 6,227,700,299.51 compared to the end of the previous year[12] - The company’s total assets reached ¥6.23 billion, up from ¥4.60 billion, marking a 35.3% increase year-over-year[40] - Total current assets reached ¥5.27 billion, a significant increase of 42% from ¥3.71 billion year-over-year[35] - Total liabilities amounted to ¥3.23 billion, compared to ¥2.73 billion, indicating a year-over-year increase of 18%[38] - Total liabilities stood at ¥2,732,569,791.71, showing a decrease from the previous period[75] - The total liabilities for Q1 2021 were ¥3,245,034,147.23, compared to ¥2,518,213,804.48 in Q1 2020, reflecting a 29% increase[46] Cash Flow - Cash flow from operating activities improved, with a net cash outflow of CNY -260,787,938.31, an improvement from CNY -390,099,666.10 in the previous year[12] - The net cash flow from operating activities improved to -RMB 260,787,938.31 from -RMB 390,099,666.10, indicating better sales collection[27] - The company reported cash inflow from financing activities of approximately ¥1.54 billion in Q1 2021, compared to ¥286.28 million in Q1 2020, indicating a substantial increase[63] - The company’s net cash flow from financing activities was 1,281,082,205.62 RMB, compared to 184,089,119.44 RMB in Q1 2020, indicating a strong financing position[67] Shareholder Information - The total number of shareholders reached 14,729 by the end of the reporting period[18] - The top ten shareholders held a combined 56.67% of the company's shares[18] Research and Development - Research and development expenses increased by 71.56% to RMB 199,515,389.88, reflecting the company's commitment to enhancing R&D capabilities[27] - Research and development expenses for Q1 2021 amounted to ¥199,515,389.88, compared to ¥116,292,867.82 in Q1 2020, indicating a 71% increase[50] Government Support - The company received government subsidies amounting to CNY 12,512,468.36 during the reporting period[15] Market Strategy - The company plans to expand its market presence and enhance product innovation to sustain growth in the IoT sector[27] Compliance and Standards - The company has confirmed the recognition of right-of-use assets and lease liabilities in accordance with new leasing standards[21] - The company adopted the new leasing standards effective January 1, 2021, which will not significantly impact financial results[81] - The company confirmed that the accounting policy change will not have a major effect on its financial condition or operating results[81]