KMCJNC(300505)2021-04-26 16:00Financial Performance - The company's revenue for Q1 2021 was ¥238,078,212.90, representing a 5.34% increase compared to ¥225,998,729.21 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥5,475,444.55, a decrease of 134.29% from a profit of ¥15,966,389.60 in the previous year[9] - Basic and diluted earnings per share were both -¥0.0419, down 124.60% from ¥0.1703 in the previous year[9] - The company reported a total revenue of 238.08 million yuan, an increase of 5.34% compared to the same period last year[24] - The net profit attributable to shareholders was -5.48 million yuan, a decrease of 134.29% year-on-year[24] - The gross profit decreased by over 8 million yuan due to a significant rise in raw material prices, particularly sulfuric acid[24] - The company's operating revenue for Q1 2021 was CNY 238,078,212.90, an increase of 5.4% compared to CNY 225,998,729.21 in the previous year[51] - The net profit for Q1 2021 was a loss of CNY 5,497,256.24, compared to a profit of CNY 15,898,119.35 in the same period last year[49] - The total comprehensive income for Q1 2021 was a loss of CNY 5,996,429.90, compared to a comprehensive income of CNY 15,898,119.35 in the same period last year[49] Cash Flow and Liquidity - The net cash flow from operating activities was -¥70,129,877.70, which is a 381.00% decline compared to -¥14,580,130.73 in the same period last year[9] - Cash and cash equivalents decreased by 41.62% to ¥235,584,415.8 compared to ¥403,548,424.1 at the end of 2020 due to reduced net cash flow[21] - The company's cash and cash equivalents decreased significantly to CNY 185,347,402.69 from CNY 379,204,898.04, reflecting liquidity challenges[41] - The cash flow from operating activities showed a net outflow of CNY 70,129,877.70, worsening from a net outflow of CNY 14,580,130.73 in the previous year[56] - The company's operating cash flow for Q1 2021 was negative at -23,277,138.48 CNY, compared to -13,066,182.04 CNY in the same period last year, indicating a decline in operational efficiency[59] - Total cash and cash equivalents at the end of Q1 2021 were 175,297,556.10 CNY, down from 102,247,940.99 CNY in Q1 2020, reflecting a decrease of approximately 71.4% year-over-year[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,861,503,064.65, a decrease of 3.96% from ¥1,938,290,384.51 at the end of the previous year[9] - The total assets as of March 31, 2021, were CNY 1,583,168,752.28, a slight decrease from CNY 1,611,552,766.87 at the end of 2020[43] - Total liabilities decreased to CNY 523,518,441.34 from CNY 547,293,941.74 at the end of 2020, indicating improved financial stability[44] - The company's total assets decreased to RMB 1.86 billion from RMB 1.94 billion, a reduction of approximately 4.3%[39] - The total liabilities of the company were 881,516,571.56 CNY, indicating a stable financial position with no significant changes year-over-year[64] Shareholder Information - The total number of common shareholders at the end of the reporting period was 12,845[13] - The largest shareholder, Liu Rang, holds 37.60% of the shares, amounting to 49,143,000 shares[13] - The total number of restricted shares at the end of the period was 41,606,735, with 7,994,898 shares released during the period[18] Expenses and Costs - Total operating costs for Q1 2021 were CNY 243,379,815.13, up from CNY 213,703,488.24 in the previous period[47] - The company's net profit margin decreased due to increased operating costs, with operating costs rising by approximately 13.9% year-over-year[47] - Sales expenses rose by 41.95% to ¥3,031,966.76, driven by increased salaries and commissions for sales personnel[21] - Management expenses increased by 40.97% to ¥15,870,857.37, due to depreciation and labor costs from a suspended production workshop being reclassified[21] - R&D expenses grew by 39.74% to ¥1,020,884.73, reflecting higher costs associated with research personnel[21] - Financial expenses surged by 269.47% to ¥5,081,736.33, primarily due to accrued interest on convertible bonds[21] Investment Activities - The company has invested a total of 19.34 million yuan from the raised funds during the quarter, with a cumulative investment of 25.76 million yuan[29] - The company raised a total of RMB 357.97 million through the issuance of convertible bonds, with RMB 154.34 million allocated to investment projects[31] - The company utilized RMB 100 million to replace self-funded investments in projects, with an additional RMB 54.34 million invested in engineering construction[31] - The company plans to extend the investment project deadline to March 15, 2022, due to actual progress considerations[31] Operational Challenges - The company is facing risks related to raw material supply and price fluctuations, which may adversely affect operations[25] - Operating profit turned negative at -¥5,367,357.77, a decline of 126.62% from ¥20,160,332.62, mainly due to rising raw material and logistics costs[21] - Other income decreased by 96.68% to ¥268,717.74, as government subsidies received were significantly lower[21] - The company reported a significant increase in financial expenses, which rose to CNY 5,097,975.18 from CNY 1,388,635.36, indicating a rise of over 267%[51]