YTO(SH:600233)2021-04-27 16:00Item I. Important Notice The company's management assures the authenticity and completeness of this unaudited quarterly report, assuming legal responsibility 1.1 Assurance of Report Authenticity and Completeness The company's management assures the authenticity and completeness of this unaudited quarterly report, assuming legal responsibility - Management guarantees the report's authenticity, accuracy, and completeness, assuming legal responsibility5 - The company's Q1 2021 report is unaudited5 Item II. Company Profile This section provides an overview of the company's key financial performance and shareholder structure for the reporting period 2.1 Key Financial Data In Q1 2021, the company achieved strong revenue and net profit growth, with significant improvement in operating cash flow despite remaining negative Key Financial Data for Q1 2021 | Indicator | Current Period | Prior Year Period | Year-over-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB 10,000) | 896,038.87 | 553,423.83 | 61.91% | | Net Profit Attributable to Shareholders (RMB 10,000) | 37,051.83 | 27,107.30 | 36.69% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB 10,000) | 33,923.56 | 23,426.61 | 44.81% | | Basic Earnings Per Share (RMB/share) | 0.1173 | 0.0950 | 23.47% | | Net Cash Flow from Operating Activities (RMB 10,000) | -37,480.55 | -72,273.39 | 48.14% | - Total non-recurring gains and losses for the period amounted to RMB 31.28 million, primarily from government grants, fair value changes in financial assets, and reversal of impairment provisions for receivables78 2.2 Shareholder Ownership As of the reporting period end, the company had 89,531 shareholders, with the top three major shareholders and their related party relationships disclosed - As of the end of the reporting period, the company had 89,531 shareholders9 Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares | Percentage (%) | | :--- | :--- | :--- | | Shanghai YTO Jiaolong Investment Development (Group) Co., Ltd. | 1,082,712,613 | 34.26% | | Alibaba (China) Network Technology Co., Ltd. | 379,179,681 | 12.00% | | Hangzhou Ali Venture Capital Co., Ltd. | 312,996,335 | 9.91% | | Shanghai Yunfeng Xinchuang Equity Investment Center (Limited Partnership) | 114,580,591 | 3.63% | | Yu Huijiao | 100,673,929 | 3.19% | - Controlling shareholder Shanghai YTO Jiaolong Investment has a concerted action relationship with Yu Huijiao and Zhang Xiaojuan; Alibaba (China) Network Technology Co., Ltd. and Hangzhou Ali Venture Capital Co., Ltd. are related legal entities11 Item III. Significant Events This section analyzes major changes in key financial statement items and indicators, including revenue, costs, assets, liabilities, and cash flows 3.1 Analysis of Significant Changes in Key Financial Statement Items and Indicators Significant changes in financial items reflect increased business volume, new lease standard adoption impacting assets and liabilities, and strategic investments in transit centers Changes in Key Financial Items and Reasons | Item Name | Change (%) | Reason for Change | | :--- | :--- | :--- | | Income Statement Items | | | | Operating Revenue | 61.91% | Primarily due to increased business volume in the current period | | Operating Cost | 65.91% | Primarily due to increased business volume in the current period | | Balance Sheet Items | | | | Right-of-Use Assets | 100.00% | Primarily due to the adoption of new lease standards in the current period | | Short-term Borrowings | 50.40% | Primarily due to increased working capital borrowings in the current period | | Non-current Liabilities Due Within One Year | 392,336.36% | Primarily due to the adoption of new lease standards in the current period | | Lease Liabilities | 100.00% | Primarily due to the adoption of new lease standards in the current period | | Cash Flow Statement Items | | | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, etc. | 75.39% | Primarily due to increased investment in transit centers in the current period | Item IV. Appendix This section contains the company's unaudited consolidated and parent company financial statements for the first quarter of 2021, along with details on new lease standard adjustments 4.1 Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for Q1 2021, including balance sheets, income statements, and cash flow statements 4.1.1 Consolidated Balance Sheet As of March 31, 2021, the company's total assets and net assets attributable to shareholders showed modest growth, with total liabilities also presented Key Items from Consolidated Balance Sheet (March 31, 2021) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 27,200,802,525.80 | | Total Liabilities | 9,283,722,428.96 | | Total Owners' Equity Attributable to Parent Company | 17,508,384,588.53 | 4.1.2 Parent Company Balance Sheet As of March 31, 2021, the parent company's assets were primarily long-term equity investments, with a robust asset-liability structure Key Items from Parent Company Balance Sheet (March 31, 2021) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 24,804,960,655.18 | | Long-term Equity Investments | 21,778,981,067.90 | | Total Liabilities | 21,334,572.52 | | Total Owners' Equity | 24,783,626,082.66 | 4.1.3 Consolidated Income Statement In Q1 2021, the company reported substantial year-over-year growth in total operating revenue and net profit attributable to parent company shareholders Key Items from Consolidated Income Statement (Q1 2021) | Item | Amount (RMB) | Year-over-Year Change | | :--- | :--- | :--- | | Total Operating Revenue | 8,960,388,673.50 | 61.91% Growth | | Total Operating Cost | 8,524,131,756.37 | 62.31% Growth | | Net Profit Attributable to Parent Company Shareholders | 370,518,310.95 | 36.69% Growth | | Basic Earnings Per Share (RMB/share) | 0.1173 | 23.47% Growth | 4.1.4 Parent Company Income Statement In Q1 2021, the parent company achieved a net profit, turning around from a prior-year loss, with revenue primarily from intercompany service fees Key Items from Parent Company Income Statement (Q1 2021) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 6,785,520.92 | 5,050,875.93 | | Operating Profit | 4,854,771.68 | -17,307,765.88 | | Net Profit | 3,636,299.29 | -11,767,499.30 | 4.1.5 Consolidated Cash Flow Statement In Q1 2021, operating cash flow improved significantly, while investing activities saw increased outflows for fixed asset acquisition, and financing activities generated substantial inflows Consolidated Cash Flow Statement Summary (Q1 2021) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | -374,805,462.42 | | Net Cash Flow from Investing Activities | -949,816,041.19 | | Net Cash Flow from Financing Activities | 868,977,598.57 | | Net Increase in Cash and Cash Equivalents | -453,569,988.25 | 4.1.6 Parent Company Cash Flow Statement In Q1 2021, the parent company experienced net cash outflow from operating activities, net inflow from investing activities, and a period-end cash balance Parent Company Cash Flow Statement Summary (Q1 2021) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | -244,329,060.52 | | Net Cash Flow from Investing Activities | 27,091,917.71 | | Net Cash Flow from Financing Activities | -152,613.82 | | Net Increase in Cash and Cash Equivalents | -217,389,756.63 | 4.2 Impact and Adjustments of New Lease Standards The company's initial adoption of new lease standards on January 1, 2021, resulted in the recognition of right-of-use assets and lease liabilities, with no impact on owners' equity Impact of Initial Adoption of New Lease Standards on January 1, 2021 Financial Statements | Adjustment Item | Adjustment Amount (RMB) | | :--- | :--- | | Right-of-Use Assets | +797,289,097.17 | | Prepayments | -41,313,119.50 | | Non-current Liabilities Due Within One Year | +205,445,380.50 | | Lease Liabilities | +550,530,597.17 |