GLCC(SH:600234)2021-04-29 16:00Financial Performance - Operating revenue increased by 89.88% to CNY 131,350,493.88 compared to the same period last year[5] - Net profit attributable to shareholders increased by 81.80% to CNY 4,693,170.70 compared to the same period last year[5] - Total revenue for Q1 2021 reached ¥131,350,493.88, a significant increase of 90.0% compared to ¥69,177,293.29 in Q1 2020[22] - Operating profit for Q1 2021 was ¥6,429,254.57, up from ¥3,885,521.20 in Q1 2020, reflecting a growth of 65.8%[23] - Net profit for Q1 2021 was ¥4,679,711.65, compared to ¥2,762,482.63 in Q1 2020, representing an increase of 69.3%[24] - The company reported a net loss of 410,821,727.27 CNY as of March 31, 2021, slightly improved from a loss of 415,517,575.29 CNY at the end of 2020[16] Assets and Liabilities - Total assets decreased by 6.82% to CNY 980,457,807.30 compared to the end of the previous year[5] - Total assets as of Q1 2021 amounted to ¥570,588,116.69, up from ¥568,176,690.56 at the end of Q1 2020[20] - Current liabilities totaled 718,123,666.61 CNY, down from 804,691,267.94 CNY at the end of 2020, indicating improved liquidity[15] - Total liabilities increased to ¥488,580,824.81 in Q1 2021 from ¥485,001,439.62 in Q1 2020[20] - Total liabilities rose from 902,138,584.37 RMB to 911,617,509.81 RMB, an increase of about 1.32%[39] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 42,811,089.51, worsening from a net outflow of CNY 21,143,508.88 in the previous year[5] - The cash flow from operating activities for Q1 2021 was -¥42,811,089.51, worsening from -¥21,143,508.88 in Q1 2020[31] - The company reported a cash outflow from financing activities of -¥1,321,807.00 in Q1 2021, with no cash inflow reported[32] - The company’s cash flow management is reflected in the short-term borrowings and accounts payable figures, indicating liquidity management strategies[41] Shareholder Information - The number of shareholders reached 7,498 at the end of the reporting period[6] - Following the private placement, the controlling shareholder will hold 33.23% of the total shares post-issuance, increasing the company's financial strength and reducing the debt-to-asset ratio[9] Management and Expenses - Management expenses rose by 41.53% to CNY 8,143,933.18 due to increased business activities and personnel[8] - The total operating costs for Q1 2021 were ¥127,189,524.24, up from ¥64,625,200.37 in Q1 2020, reflecting an increase of 96.7%[22] - The management expenses for Q1 2021 were ¥1,024,981.86, up from ¥858,228.50 in Q1 2020, reflecting a 19.4% increase[27] Fundraising and Financial Strategy - The company plans to issue up to 60,075,093 shares at a price of 7.99 CNY per share, raising a total of no more than 480 million CNY to supplement working capital and repay interest-bearing debts[9] - The issuance of new shares is expected to significantly enhance the company's cash flow and reduce interest expenses, thereby improving profitability[10] - The company aims to strengthen its asset-liability structure and enhance its overall risk resistance capabilities through the planned fundraising[10] Equity and Shareholder's Equity - The total equity attributable to shareholders decreased to ¥82,007,291.88 in Q1 2021 from ¥83,175,250.94 in Q1 2020[20] - Shareholders' equity stood at $83.18 million, reflecting a slight decrease in retained earnings to -$460.86 million[42]