WBC(200706)2021-04-26 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥413,507,921.87, representing a 5.06% increase compared to ¥393,595,783.19 in the same period last year[9]. - The net profit attributable to shareholders decreased by 30.24% to ¥2,486,349.89 from ¥3,564,162.27 year-on-year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,242,469.73, down 27.34% from ¥3,086,300.14 in the previous year[9]. - Total profit decreased by 30.1% to 24.9 million yuan, impacted by increased taxes and expenses[17]. - The total operating revenue for Q1 2021 was CNY 413.51 million, an increase of 5.8% compared to CNY 393.60 million in Q1 2020[38]. - The net profit for Q1 2021 was CNY 2,486,349.89, a decrease of 30.2% from CNY 3,564,162.27 in Q1 2020[40]. - The total profit for Q1 2021 was CNY 2,486,349.89, down 30.2% from CNY 3,564,162.27 in Q1 2020[40]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥27,699,435.57, a decline of 249.05% compared to ¥18,583,796.31 in the same period last year[9]. - Cash received from operating activities increased by 821.5% to 13.27 million yuan, driven by higher customer deposits[17]. - The cash inflow from operating activities was CNY 281,954,321.45 in Q1 2021, compared to CNY 265,342,158.27 in Q1 2020, indicating a growth of 6.3%[45]. - The net cash flow from operating activities was -22,637,711.64 CNY, compared to 17,666,091.80 CNY in the previous period, indicating a significant decline in operational cash generation[48]. - Total cash and cash equivalents at the end of the period amounted to 110,553,978.79 CNY, down from 213,517,455.25 CNY in the previous period, reflecting a decrease of approximately 48.3%[50]. - Cash outflows for operating activities totaled 296,665,487.47 CNY, compared to 239,159,506.84 CNY in the previous period, marking an increase of about 24%[48]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,125,828,611.91, a slight decrease of 0.26% from ¥3,133,942,842.94 at the end of the previous year[9]. - The total assets as of March 31, 2021, amounted to CNY 3.13 billion, slightly down from CNY 3.13 billion at the end of 2020[33]. - Current liabilities totaled CNY 2.21 billion, a decrease of 0.5% from CNY 2.22 billion in the previous period[32]. - The company’s total liabilities stood at 2,319,937,875.05 CNY, indicating a marginal decrease from 2,321,194,555.52 CNY previously[53]. - The total liabilities decreased to CNY 2.31 billion from CNY 2.32 billion, reflecting a slight reduction of 0.3%[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,896[12]. - The largest shareholder, Wafangdian Bearing Group Co., Ltd., holds 60.61% of the shares, amounting to 244,000,000 shares[13]. - The net assets attributable to shareholders increased by 0.31% to ¥816,491,476.42 from ¥814,004,967.89 at the end of the previous year[9]. - The company’s equity attributable to shareholders increased to CNY 816.49 million, up from CNY 814.00 million[33]. Expenses and Costs - Research and development expenses decreased by 32.0% to 31.44 million yuan due to differing project progress compared to the previous period[17]. - Sales expenses increased by 46.5% to 34.84 million yuan, mainly due to higher freight and travel costs[17]. - Management expenses rose by 96.0% to 20.93 million yuan, attributed to salary and insurance increases from organizational adjustments[17]. - The total operating costs increased to CNY 411,850,901.15 in Q1 2021 from CNY 393,178,043.74 in Q1 2020, representing a rise of 4.3%[42]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[36]. - The company has not disclosed any new product developments or market expansion strategies in the current report[59]. Accounting Changes - The company adopted the new leasing standard starting January 1, 2021, using simplified treatment without affecting the retained earnings at the beginning of 2021[54]. - The company confirmed the recognition of right-of-use assets and lease liabilities, with the right-of-use assets valued at CNY 1,256,680.47[57]. - The company has chosen not to adjust comparative period information under the new leasing standard[58]. - The company’s financial adjustments related to the new leasing standard do not impact prior period information, ensuring consistency in reporting[58]. Audit Status - The first quarter report for 2021 was not audited, indicating preliminary financial data[59].