Luenmei Quantum (SH:600167)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 21.86% to CNY 701,373,378.91 year-on-year[11]. - Operating revenue declined by 3.55% to CNY 1,697,068,977.14 compared to the same period last year[11]. - Basic earnings per share decreased by 21.51% to CNY 0.3079[11]. - The company reported a decrease in net profit after deducting non-recurring gains and losses by 11.77% to CNY 783,846,558.88[11]. - The total comprehensive income attributable to the parent company was CNY 701,373,658.44, a decrease of 21.9% compared to CNY 897,553,236.26 in the same period last year[46]. - Net profit for Q1 2021 was CNY 721,697,693.36, down 22.3% from CNY 929,254,282.74 in Q1 2020[44]. - The net profit for the first quarter of 2021 was CNY 16,502,621.17, down from CNY 170,221,174.82 in the first quarter of 2020, representing a decline of 90.3%[48]. Assets and Liabilities - Total assets decreased by 6.01% to CNY 13,025,543,854.06 compared to the end of the previous year[11]. - The company's total liabilities decreased to approximately ¥3.42 billion from ¥4.79 billion, a reduction of 28.5%[34]. - Total liabilities amounted to CNY 3,879,556,089.93, a decrease from CNY 4,755,894,082.64 in the previous period[40]. - The company reported a total asset value of ¥13,857,801,304.88 as of the end of Q1 2021, a decrease from ¥14,084,215,012.77 at the end of the previous year[57]. - The company’s total liabilities as of the end of Q1 2021 were not explicitly stated but are implied to have increased due to higher financing outflows[57]. Cash Flow - Net cash flow from operating activities improved by 39.53%, reaching -CNY 365,283,481.17[11]. - The net cash flow from operating activities was negative CNY 365,283,481.17, improving from negative CNY 604,039,506.70 in the same period last year[51]. - The cash outflow from financing activities turned from a net inflow to a net outflow of -¥732,926,943.96, primarily due to bank loan repayments and share buybacks[23]. - The net cash flow from financing activities in Q1 2021 was -¥675,345,588.80, compared to a positive cash flow of ¥88,051,292.45 in Q1 2020, indicating a significant shift in financing strategy[55]. Shareholder Information - The total number of shareholders reached 33,130 by the end of the reporting period[15]. - The largest shareholder, Lianzhong New Energy Co., Ltd., holds 1,161,720,503 shares, with 228,130,445 shares pledged[15]. Expenses - Sales expenses increased by 37.19% to ¥13,472,112.17 compared to ¥9,819,983.13 in the same period last year, primarily due to an increase in the sales department's headcount[20]. - Research and development expenses increased by 250.02% to ¥6,439,147.37 from ¥1,839,633.81 year-on-year, reflecting a continued increase in R&D investment[23]. - The company plans to continue focusing on research and development, with R&D expenses increasing to CNY 2,718,686.76 from CNY 2,208,732.46[44]. - Financial expenses decreased to negative CNY 21,404,597.53 from negative CNY 30,309,164.85 year-over-year, showing improved cost management[46]. Investment Performance - Investment income decreased by 71.14% to ¥2,407,162.79 from ¥8,341,643.83 year-on-year, mainly due to the accounting of earnings from Shanghai Huadian Fuxin using the equity method this period[20]. - The company reported investment income of CNY 2,408,464.26, a significant drop from CNY 148,500,000.00 in the previous year, indicating challenges in investment performance[48]. Inventory and Prepayments - The balance of inventory decreased by 42.93% to ¥174,778,448.72 from ¥306,247,369.97, mainly due to normal consumption of coal during the heating season[23]. - The balance of prepayments increased by 41.63% to ¥170,107,623.43 from ¥120,106,278.81, primarily due to increased prepayments for coal procurement[23]. Fair Value and Other Financial Metrics - The company reported a fair value loss of -¥101,401,720.40, a significant increase compared to the previous year, mainly due to a decline in the stock price of Qi Anxin[20]. - The company recognized right-of-use assets of approximately 234.90 million and lease liabilities of about 227.49 million due to the implementation of the new leasing standard[68]. - The adjustment for the new leasing standard did not have a significant impact on the company's financial position, operating results, cash flows, or future operating performance[68].