CSSC Holdings(SH:600150)2021-04-27 16:00Financial Performance - Net profit attributable to shareholders was CNY 91.92 million, a significant recovery from a loss of CNY 5.85 million in the same period last year[6]. - Operating revenue decreased by 3.22% to CNY 10.05 billion compared to CNY 10.39 billion in the previous year[6]. - The company reported a net profit of CNY -29.02 million after deducting non-recurring gains and losses, compared to CNY -18.00 million in the previous year[7]. - The company's investment income was reported at CNY -9.29 million, a significant improvement from CNY -232.23 million in the previous year, reflecting the impact of forward contract settlements[14]. - The company reported a net profit margin improvement, although specific figures were not disclosed, indicating positive operational efficiency trends[19]. - The net profit for Q1 2021 was ¥63,326,098.28, a significant improvement from a net loss of ¥141,400,638.92 in Q1 2020, indicating a turnaround in performance[28]. - The total comprehensive income for the period was ¥52,556,936.00, compared to a loss of ¥144,357,871.14 in the same quarter last year[28]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY 736.31 million, a substantial improvement from a negative cash flow of CNY 4.50 billion in the same period last year[6]. - The net cash flow from operating activities for Q1 2021 was 736,306,836.96 CNY, a significant improvement from -4,504,208,267.15 CNY in Q1 2020[32]. - Cash inflow from operating activities totaled ¥15,510,504,444.16, up from ¥8,464,754,394.37 in the previous year, reflecting strong operational cash generation[31]. - The total cash and cash equivalents at the end of Q1 2021 amounted to 22,603,063,965.07 CNY, up from 14,502,654,641.54 CNY at the end of Q1 2020[32]. - The company experienced a net increase in cash received from other operating activities amounting to ¥849,022,178.15, compared to ¥561,686,725.10 in Q1 2020[31]. Assets and Liabilities - Total assets increased by 3.78% to CNY 158.27 billion compared to the end of the previous year[6]. - Total liabilities rose to ¥105.31 billion from ¥99.68 billion, reflecting an increase of about 5.2%[22]. - Long-term borrowings increased significantly to ¥6.60 billion from ¥4.08 billion, representing a growth of approximately 62%[22]. - The total number of shares increased from 1,378,117,598 to 4,472,428,758 shares following the completion of the asset restructuring project[15]. - Total current liabilities were RMB 9,660,346.24, including accounts payable of RMB 110,000.00 and employee compensation payable of RMB 201,020.08[41]. Shareholder Information - The total number of shareholders reached 138,235, indicating a stable shareholder base[11]. - The state-owned China Shipbuilding Industry Group holds 44.47% of the shares, maintaining significant control over the company[11]. Research and Development - Research and development expenses rose by 70.91% to CNY 523.49 million, driven by increased research costs for large cruise projects[14]. - The company plans to continue focusing on R&D to drive future growth and innovation[27]. Government Support and Restructuring - The company received government subsidies amounting to CNY 87.32 million, contributing positively to its financial performance[9]. - The company is in the process of restructuring and expanding its capital base in accordance with national defense policies[8]. - The company completed a major asset restructuring project, raising CNY 16.89 billion through market-oriented debt-to-equity swaps and CNY 3.87 billion in supporting funds[15]. Future Outlook - Future outlook includes plans for market expansion and potential new product launches, although specific details were not provided in the report[19]. - The company continues to focus on maintaining a robust balance sheet while exploring market expansion opportunities[40]. - Future outlook remains positive with ongoing investments in new technologies and product development initiatives[40].