FOTON(SH:600166)2021-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 15.87 billion, a significant increase of 72.04% year-on-year[4] - Net profit attributable to shareholders was CNY 370.54 million, recovering from a loss of CNY 295.71 million in the same period last year[4] - Basic earnings per share rose to CNY 0.057, compared to a loss of CNY 0.045 in the same period last year[4] - The net profit for the current period was CNY 375,139,369.26, a significant improvement from a net loss of CNY 296,899,100.18 in the previous period[12] - The net profit for Q1 2021 was approximately ¥367.22 million, compared to a net loss of ¥301.41 million in Q1 2020[24] - The total comprehensive income for Q1 2021 was approximately ¥390.61 million, compared to a total comprehensive loss of ¥309.77 million in Q1 2020[24] Cash Flow - Net cash flow from operating activities improved to -CNY 391.04 million, compared to -CNY 1.11 billion in the previous year[4] - Cash flow from operating activities for Q1 2021 was approximately ¥7.46 billion, compared to ¥5.43 billion in Q1 2020[28] - The net cash flow from operating activities was negative CNY 391,044,077.24, an improvement compared to negative CNY 1,109,143,132.60 in the same quarter last year[30] - Cash outflow from investing activities was CNY 308,440,915.79, down from CNY 881,845,943.92, indicating a reduction of about 65%[30] - The total cash and cash equivalents at the end of the period stood at CNY 3,201,277,312.12, down from CNY 2,444,969,140.67 year-over-year[31] Assets and Liabilities - Total assets increased by 2.21% to CNY 53.91 billion compared to the end of the previous year[4] - The company's total liabilities increased to approximately ¥38.08 billion, compared to ¥37.31 billion in the previous year, indicating a rise of about 2%[19] - Total liabilities reached approximately $35.22 billion, with current liabilities accounting for about $29.28 billion[41] - The company's equity increased to ¥16,312,590,942.46 from ¥15,892,987,464.64, representing a growth of about 2.6%[22] Shareholder Information - The total number of shareholders at the end of the reporting period was 132,432[6] - The largest shareholder, Beijing Automotive Group Co., Ltd., held 27.46% of the shares[6] Government Support - The company received government subsidies amounting to CNY 40.30 million related to its normal business operations[5] Market Outlook - The company expects significant uncertainty in the commercial vehicle market in the second half of 2021, with potential risks of sales decline due to market transition and external factors such as supply chain issues and stricter regulations[14] Research and Development - The company plans to enhance product innovation and development to meet market demands and improve product quality[14] - Research and development expenses for Q1 2021 were ¥393,688,649.68, slightly down from ¥419,138,428.60 in Q1 2020, indicating a decrease of about 6.1%[23] Operational Efficiency - Operating costs amounted to CNY 14,152,613,517.37, reflecting a 74.65% increase from CNY 8,103,459,856.95 due to higher sales volume[12] - The company reported a 409.67% increase in accounts receivable financing, totaling CNY 1,264,010,259.61, primarily due to bank acceptance bills not yet paid[11] - Short-term borrowings decreased by 69.74% to CNY 625,379,130.05, attributed to repayment of bank loans[11]