MINLIST(SH:600058)2021-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 16.63 billion, an increase of 85.80% year-on-year[11] - Net profit attributable to shareholders was CNY 92.52 million, a significant recovery from a loss of CNY 47.64 million in the same period last year[11] - Basic and diluted earnings per share were both CNY 0.09, recovering from a loss of CNY 0.04 per share in the previous year[11] - Total operating revenue for Q1 2021 reached ¥16,628,336,262.29, a significant increase of 85.5% compared to ¥8,950,280,089.42 in Q1 2020[45] - Net profit for Q1 2021 was ¥89,951,806.26, a turnaround from a net loss of ¥52,478,559.86 in Q1 2020[48] - The company reported a gross profit margin of approximately 1.1% for Q1 2021, compared to a negative margin in Q1 2020[48] Assets and Liabilities - Total assets increased by 45.82% to CNY 31.8 billion compared to the end of the previous year[11] - Accounts receivable increased by 31.74% to RMB 776,997.64 million due to expanded credit sales in steel supply business[22] - Inventory rose by 125.23% to RMB 901,014.22 million to meet downstream demand for metallurgical raw materials and steel[22] - Short-term borrowings increased by 75.74% to RMB 464,224.49 million reflecting higher procurement needs due to rising commodity prices[22] - Contract liabilities grew by 147.60% to RMB 479,969.44 million as pre-received sales payments increased[22] - Current liabilities rose to ¥23.8 billion, compared to ¥14.0 billion, marking an increase of about 70.1% year-over-year[39] - Total liabilities increased to ¥7,167,004,931.89, compared to ¥4,704,652,404.43 in the previous year, reflecting a growth of 52.4%[45] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1.51 billion, worsening from a net outflow of CNY 598.96 million in the previous year[11] - Cash flow from operating activities decreased by 151.83% to RMB -150,834.66 million as inventory purchases outpaced sales[24] - The net cash flow from operating activities for Q1 2021 was negative CNY 1,508,346,602.20, compared to negative CNY 598,964,543.23 in Q1 2020[57] - The cash outflow from operating activities totaled CNY 17,977,761,748.32, compared to CNY 5,306,420,587.72 in the same quarter last year[59] - The cash received from sales of goods and services in Q1 2021 was CNY 18,461,395,619.89, up from CNY 12,741,299,549.38 in Q1 2020[57] Shareholder Information - The total number of shareholders reached 58,637 by the end of the reporting period[18] - The largest shareholder, China Minmetals Corporation, holds 62.56% of the shares[18] Government and Other Income - The company reported a government subsidy of CNY 3.84 million related to its normal business operations[11] - Non-recurring gains and losses amounted to CNY 8.11 million during the reporting period[11] Investment and Expenses - Management expenses rose by 33.16% to RMB 26,406.36 million due to improved operational efficiency and increased labor costs[22] - Investment income loss increased by 57.64% to RMB -5,101.91 million due to higher factoring fees from increased accounts receivable[22] - The company recorded investment losses of ¥51,019,077.57 in Q1 2021, compared to losses of ¥32,363,679.74 in Q1 2020[48] Future Plans and Strategies - The company aims to enhance its market presence and explore new strategies for growth in the upcoming quarters[52] - The company plans to sign a long-term procurement contract for approximately 1.36 million tons of iron ore valued at about RMB 1.564 billion[25]