QCIOT(688528)2021-04-27 16:00Financial Performance - Operating revenue increased by 25.11% to CNY 52,711,998.60 year-on-year[8] - Net profit attributable to shareholders dropped by 84.95% to CNY 860,750.38 compared to the same period last year[8] - Basic and diluted earnings per share fell by 88.77% to CNY 0.0051[8] - The net profit for Q1 2021 was CNY 860,750.38, a decrease of 84.9% compared to CNY 5,719,217.16 in Q1 2020[24] - The basic and diluted earnings per share for Q1 2021 were CNY 0.0051, down from CNY 0.0454 in Q1 2020[25] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -48,124,960.55, compared to CNY -12,640,599.62 in the previous year[8] - Cash flow from operating activities showed a net outflow of CNY -48,124,960.55, worsening from CNY -12,640,599.62 in Q1 2020[27] - Cash and cash equivalents at the end of Q1 2021 were CNY 173,613,799.86, compared to CNY 10,830,957.41 at the end of Q1 2020[28] - Total assets decreased by 3.52% to CNY 955,400,129.62 compared to the end of the previous year[8] - The total assets decreased to CNY 955,400,129.62 from CNY 990,283,654.56 year-over-year, a decline of 3.5%[23] Research and Development - R&D expenses accounted for 15.88% of operating revenue, an increase of 4.13 percentage points year-on-year[8] - Research and development expenses rose to ¥8,371,137.37 in Q1 2021, a 69.04% increase from ¥4,952,126.88 in Q1 2020, driven by an increase in R&D personnel and materials[16] - Research and development expenses increased to CNY 8,371,137.37, up 68.5% from CNY 4,952,126.88 in the same period last year[24] Liabilities and Shareholder Information - The total liabilities increased significantly, with contract liabilities rising by 700% to ¥88,495.58, reflecting a substantial increase in advance payments received[15] - The total liabilities decreased to CNY 199,897,847.62 from CNY 235,642,122.94, a reduction of 15.2%[23] - The total number of shareholders was 8,947, with the largest shareholder holding 60.22% of shares[12] Market and Competitive Environment - The company faced a decline in gross margin due to competitive pricing pressures in the smart gas meter market[8] - The company's operating costs for Q1 2021 were ¥34,589,095.41, an increase of 47.22% compared to ¥23,494,892.55 in Q1 2020, primarily due to increased sales revenue[16] Outlook and Adjustments - The company anticipates potential losses or significant changes in net profit compared to the same period last year, indicating a cautious outlook for the upcoming reporting period[17] - The company has not applied the new leasing standards for the financial statements as of the beginning of the year 2021[29] - The company has not made retrospective adjustments for prior comparative data under the new leasing standards[29] - The audit report is not applicable for the current period[29]