FFEC(SH:600203)2021-04-28 16:00Financial Performance - Operating revenue surged by 105.24% to CNY 3,524,689,189.15 from CNY 1,717,363,283.04 in the same period last year[5] - Net profit attributable to shareholders of the listed company was a loss of CNY 44,944,644.06, an improvement from a loss of CNY 60,293,281.05 year-on-year[5] - Cash flow from operating activities improved to a loss of CNY 124,526,830.85, compared to a loss of CNY 224,481,472.77 in the previous year[5] - The net loss narrowed to ¥48,930,261.86 from ¥78,534,303.87 in the previous period[13] - The net loss for Q1 2021 was ¥48,930,261.86, an improvement from a net loss of ¥78,534,303.87 in Q1 2020[30] - The company recorded a total comprehensive loss of ¥47,835,555.85 for Q1 2021, compared to a loss of ¥76,108,957.11 in Q1 2020[30] - The company’s total comprehensive loss for Q1 2021 was ¥11,754,025.50, compared to a loss of ¥9,562,323.38 in Q1 2020[34] Assets and Liabilities - Total assets increased by 6.79% to CNY 8,772,894,041.69 compared to the end of the previous year[5] - Total current assets increased to ¥6,130,074,452.44 as of March 31, 2021, up from ¥5,856,276,059.43 at the end of 2020, representing a growth of approximately 4.65%[21] - Total liabilities increased to ¥6,001,654,308.83 from ¥5,395,857,762.74, reflecting a growth of about 11.21%[23] - The company's equity attributable to shareholders decreased to ¥2,072,342,193.82 from ¥2,109,242,146.03, a decline of approximately 1.75%[23] - Total liabilities amounted to CNY 5,395,857,762.74, a decrease of CNY 180,387,581.49 compared to the previous period[44] - Current liabilities totaled CNY 5,142,606,626.85, with an increase of CNY 41,894,467.06 from the previous period[44] Cash Flow - Cash inflow from operating activities totaled ¥4,104,128,179.32, reflecting a 44.46% increase due to higher sales revenue[14] - Cash outflow for purchasing goods and services was ¥3,852,010,792.30, up 75.13% as a result of increased operational activities[14] - The total cash flow from financing activities decreased by 30.99% to ¥458,307,989.33, attributed to a reduction in bank loans received[15] - The cash inflow from operating activities in Q1 2021 was ¥4,104,128,179.32, an increase from ¥2,841,087,523.73 in Q1 2020[36] - The cash outflow from operating activities in Q1 2021 was ¥4,228,655,010.17, compared to ¥3,065,568,996.50 in Q1 2020[37] Shareholder Information - The top shareholder, Fujian Furi Group Co., Ltd., holds 20.65% of the shares, totaling 94,234,189 shares[9] - Basic and diluted earnings per share were both -CNY 0.0860, an improvement from -CNY 0.1237 in the previous year[5] Inventory and Receivables - Accounts receivable rose by 69.09% to ¥101,281,583.71, primarily due to commercial acceptance bills collected by a subsidiary[11] - Inventory increased by 53.13% to ¥1,984,703,899.84, mainly due to stockpiling by a subsidiary[11] - The company reported a 39.30% increase in accounts payable, reaching ¥2,224,084,206.39, primarily due to increased payables for inventory[11] Investments and Financial Activities - Long-term equity investments surged by 2524.07% to ¥50,806,599.90, attributed to investments in a venture capital partnership[11] - The company recognized a significant investment income of ¥6,030,289.11, a 32262.59% increase, due to large certificate of deposit earnings[12] - The company invested ¥441,000,000.00 in cash for acquisitions and project developments, marking a 175.63% increase[15] Regulatory and Compliance - The company received approval from the China Securities Regulatory Commission for a non-public offering of A-shares on April 16, 2021[17] - The company implemented new leasing standards, resulting in the recognition of right-of-use assets and lease liabilities[11] - The company adopted the new leasing standards effective January 1, 2021, resulting in an adjustment of CNY 11,829,841.12 to the balance sheet[48]