Befar(SH:601678)2025-04-29 10:05Financial Performance - The company's operating revenue for Q1 2025 reached ¥3,782,455,195.57, representing a 94.14% increase compared to ¥1,948,341,450.07 in the same period last year[4] - Net profit attributable to shareholders was ¥95,999,141.81, a significant increase of 225.75% from ¥29,470,302.97 year-on-year[4] - Basic and diluted earnings per share both increased to ¥0.05, reflecting a 400.00% rise from ¥0.01 in the same period last year[4] - The weighted average return on equity improved to 0.84%, up by 0.58 percentage points from 0.26%[4] - Net profit for Q1 2025 was ¥95,816,711.72, compared to ¥29,443,698.31 in Q1 2024, marking a growth of 225.5%[22] - Earnings per share for Q1 2025 were ¥0.05, up from ¥0.01 in Q1 2024[23] Cash Flow - The net cash flow from operating activities surged to ¥983,975,933.57, marking an increase of 8,924.95% compared to ¥10,902,843.04 in the previous year[4] - Cash flow from operating activities for Q1 2025 was ¥3,795,427,637.63, compared to ¥2,280,392,603.81 in Q1 2024, indicating a growth of 66.5%[25] - The total cash inflow from operating activities was ¥5,262,379,042.14, while cash outflow was ¥4,278,403,108.57, leading to a net inflow of ¥983,975,933.57[26] - Total cash inflow from financing activities was ¥2,068,843,889.96, while cash outflow was ¥1,666,184,359.24, resulting in a net cash flow of ¥402,659,530.72[27] - Cash and cash equivalents rose significantly to RMB 2,614,122,550.05, compared to RMB 758,946,702.73 at the end of 2024, indicating an increase of over 244%[16] - Cash and cash equivalents at the end of the period reached ¥1,767,095,720.07, up from ¥1,243,414,893.24[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥24,097,460,913.22, a 4.97% increase from ¥22,956,458,805.29 at the end of the previous year[5] - Total liabilities rose to ¥12,614,384,938.08 in Q1 2025, compared to ¥11,573,743,799.96 in Q1 2024, an increase of 9.0%[18] - As of March 31, 2025, the company's total current assets increased to RMB 4,794,332,225.48 from RMB 3,606,302,739.46 as of December 31, 2024, representing a growth of approximately 33%[16] - The total non-current assets increased to RMB 17,077,112,000.00 from RMB 16,000,000,000.00, showing a growth of approximately 6.7%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 86,839[10] - The first major shareholder, Binzhou Heyi Industrial Investment Partnership, plans to increase its stake in the company by investing between RMB 140 million and RMB 280 million over the next 12 months[13] - As of April 8, 2025, the major shareholder has acquired an additional 19,464,772 shares, raising its total holdings to 165,142,882 shares, which is 8.02% of the total share capital[13] - There are no known significant relationships or agreements among the top shareholders that would indicate coordinated actions[12] Operational Insights - The increase in operating revenue was primarily driven by the commissioning of the subsidiary Shandong Binhua New Materials Co., Ltd.[8] - The significant rise in net profit was attributed to increased product gross margins, reduced operating expenses, and higher investment income[8] - The company reported a net profit of ¥29,603,521.08 from non-recurring gains and losses after tax adjustments[8] - Operating costs for Q1 2025 were ¥3,707,640,273.91, up from ¥1,931,404,604.06 in Q1 2024, reflecting a 92.0% increase[21] - Research and development expenses decreased to ¥5,330,966.05 in Q1 2025 from ¥7,190,316.65 in Q1 2024, a reduction of 26.0%[22] Investment Activities - The cash flow from investment activities showed a net outflow of ¥96,780,133.77, compared to a larger outflow of ¥614,744,221.14 in the previous period[26] - The company received cash from borrowings totaling ¥988,320,000.00, compared to ¥1,896,680,000.00 in the previous period[27] - The company's long-term equity investments stood at RMB 2,363,265,194.46, slightly up from RMB 2,335,757,866.43, indicating a growth of about 1.2%[16]