SQM(688138)2021-04-19 16:00Financial Performance - Operating revenue decreased by 10.31% to CNY 110,661,580.55 year-on-year[8] - Net profit attributable to shareholders decreased by 32.95% to CNY 10,587,176.02 compared to the same period last year[8] - Basic and diluted earnings per share decreased by 16.67% to CNY 0.05[7] - Total operating revenue for Q1 2021 was ¥110,661,580.55, a decrease of 10.9% compared to ¥123,375,922.56 in Q1 2020[27] - Net profit for Q1 2021 was ¥12,641,875.71, representing a decline of 23.3% from ¥16,613,891.46 in Q1 2020[28] - Total profit for Q1 2021 was ¥14,826,535.25, down 24.5% from ¥19,749,280.74 in Q1 2020[28] - The comprehensive income total for Q1 2021 was ¥12,641,875.71, down from ¥16,613,891.46 in Q1 2020[28] Revenue Sources - Revenue from semiconductor mask plates grew by 52.19%, increasing its share of total revenue from 9.41% to 16.01%[8] - The company faced a decline in revenue from flat panel display mask plates, which dropped approximately 21.95% year-on-year[8] - Cash received from sales of goods and services was ¥97,136,416.17 in Q1 2021, a decrease of 26.1% from ¥131,471,076.50 in Q1 2020[32] - The company reported a significant decrease in sales revenue from CNY 97,136,416.17 in Q1 2021 compared to CNY 131,471,076.50 in Q1 2020, reflecting a decline of 26.0%[35] Research and Development - R&D expenses accounted for 8.50% of operating revenue, an increase of 5.23 percentage points compared to the previous year[8] - Research and development expenses rose by 137.48% to ¥9,567,179.59, attributed to increased investment in the Shenzhen company and its subsidiary Hefei Qingyi[17] - Research and development expenses increased significantly to ¥9,567,179.59 in Q1 2021, up 137.8% from ¥4,028,674.44 in Q1 2020[27] - The company’s net profit was impacted by increased R&D expenses of CNY 3,440,300 due to the ongoing setup of the Hefei factory[8] Cash Flow - Cash flow from operating activities decreased by 37.79% to CNY 20,913,504.57 year-on-year[7] - The net cash flow from operating activities for Q1 2021 was CNY 20,913,504.57, a decrease of 37.9% compared to CNY 33,618,493.20 in Q1 2020[33] - Total cash inflow from operating activities was CNY 113,525,275.47, down from CNY 161,544,921.00 in the previous year, reflecting a decline of 29.6%[33] - Cash outflow from operating activities totaled CNY 92,611,770.90, compared to CNY 127,926,427.80 in Q1 2020, indicating a reduction of 27.6%[33] - The net cash flow from investing activities was -CNY 102,502,962.09, worsening from -CNY 62,593,523.17 in the same quarter last year[33] - Cash inflow from financing activities was CNY 58,443,078.28, with a net cash flow of CNY 57,540,205.79 after outflows[34] Assets and Liabilities - Total assets increased by 5.82% to CNY 1,508,036,742.18 compared to the end of the previous year[6] - Current liabilities decreased by 44.63% to ¥74,785.81 mainly due to a reduction in tax amounts in contract prepayments[16] - Long-term borrowings increased by 142.15% to ¥87,473,987.04 due to new long-term loans[17] - Total liabilities rose to CNY 317,157,179.80 from CNY 246,828,636.18, marking an increase of about 28.4%[22] - The company's equity increased to CNY 1,190,879,562.38 from CNY 1,178,237,686.67, showing a growth of approximately 1.1%[22] - Accounts receivable increased to CNY 119,342,985.61 from CNY 101,645,607.64, representing a growth of about 17.4%[21] - Inventory rose to CNY 71,999,706.00 from CNY 60,393,736.81, indicating an increase of approximately 19.5%[21] - The total number of shareholders reached 11,805 by the end of the reporting period[12] Other Financial Metrics - Other non-current assets increased by 94.98% to ¥67,936,949.48 due to an increase in prepayments for equipment[16] - Other income increased by 41.52% to ¥2,401,077.91, mainly from increased government subsidy income[17] - The company reported a financial expense of -¥1,624,846.73 in Q1 2021, compared to a financial income of ¥1,064,026.84 in Q1 2020[27] - The company experienced a credit impairment loss of -¥373,308.29 in Q1 2021, compared to a gain of ¥8,028.18 in Q1 2020[28] - The company reported a significant increase in credit impairment losses, with a decrease of 4749.97% in the previous period[17] - The company experienced a negative impact of -CNY 730,030.04 from exchange rate fluctuations on cash and cash equivalents[34]