QCEC(SH:600218)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders increased by 133.12% to CNY 58,553,426.11 year-on-year[5] - Operating revenue rose by 60.80% to CNY 1,329,706,570.36 compared to the same period last year[5] - Basic earnings per share increased by 128.57% to CNY 0.16[5] - Net profit for Q1 2021 rose by 136.06% to ¥57,503,015.58, compared to ¥24,359,236.89 in Q1 2020[12] - Total operating revenue for Q1 2021 reached ¥1,329,706,570.36, a significant increase of 60.8% compared to ¥826,924,120.57 in Q1 2020[28] - Net profit for Q1 2021 was ¥63,061,593.53, up 106.8% from ¥30,454,415.31 in Q1 2020[32] Cash Flow - The net cash flow from operating activities decreased by 251.42% to -CNY 198,469,602.75 compared to the previous year[5] - Cash flow from operating activities showed a net outflow of ¥198,469,602.75 in Q1 2021, compared to a net inflow of ¥131,068,384.43 in Q1 2020[36] - Cash outflow from operating activities increased to 1.0 billion RMB in Q1 2021, compared to 477.7 million RMB in Q1 2020, highlighting increased operational expenditures[38] - The company reported cash inflow from operating activities of 844.4 million RMB in Q1 2021, up from 617.8 million RMB in Q1 2020, indicating growth in operational cash receipts[38] Assets and Liabilities - Total assets increased by 2.84% to CNY 4,680,315,573.68 compared to the end of the previous year[5] - Total current assets increased to CNY 3,544,146,657.34 as of March 31, 2021, compared to CNY 3,451,532,109.00 at December 31, 2020, reflecting a growth of approximately 2.7%[19] - Total liabilities amounted to CNY 2,367,173,170.82, compared to CNY 2,296,583,512.66, reflecting an increase of approximately 3.1%[21] - The company's total assets as of March 31, 2021, were CNY 4,680,315,573.68, up from CNY 4,550,907,806.74, showing a growth of about 2.9%[20] - The total liabilities increased to ¥2,275,488,418.70 in Q1 2021 from ¥2,199,283,040.63 in Q1 2020, marking a rise of 3.5%[25] Shareholder Information - The total number of shareholders reached 41,671 by the end of the reporting period[9] - The equity attributable to shareholders increased to CNY 2,242,328,982.32 from CNY 2,182,460,463.01, representing a rise of approximately 2.7%[21] - The total equity attributable to shareholders was RMB 2,182,460,463.01[43] Research and Development - Research and development expenses grew by 52.30% to ¥37,114,593.79, indicating increased investment in innovation[11] - Research and development expenses for Q1 2021 were ¥37,114,593.79, an increase of 52.3% from ¥24,368,919.10 in Q1 2020[28] Investment Activities - The company plans to raise up to ¥75,000,000 through a non-public offering to fund projects including intelligent manufacturing and green casting upgrades[15] - The company received cash inflows from investment activities totaling ¥226,869,250.08 in Q1 2021, compared to ¥128,510,613.37 in Q1 2020[36] - The net cash flow from investment activities improved to 40.5 million RMB in Q1 2021, compared to a negative 462.0 million RMB in Q1 2020, showing a positive turnaround in investment performance[39] Operational Challenges - The net cash flow from operating activities decreased significantly by 251.42% to -¥198,469,602.75, primarily due to increased payments to suppliers[12] - The company reported a significant increase in credit impairment losses by 314.08% to -¥25,287,341.08, indicating a rise in expected uncollectible accounts[12] - The company is subject to uncertainties regarding the approval of its non-public offering by the China Securities Regulatory Commission, highlighting potential investment risks[15]