DETC(SH:600081)2021-04-29 16:00Financial Performance - Operating revenue surged by 96.64% to CNY 1,799,120,433.32 year-on-year[12] - Net profit attributable to shareholders reached CNY 42,430,098.93, a significant recovery from a loss of CNY 61,622,542.91 in the same period last year[12] - Basic and diluted earnings per share were CNY 0.1353, recovering from a loss of CNY 0.1965 per share in the same period last year[12] - The company reported a substantial increase in investment income, which surged by 1840.91% to ¥23,799,037.70 from ¥1,226,177.38, reflecting improved performance from associated companies[24] - Other income increased by 357.83% to ¥5,184,623.81 from ¥1,132,425.03, primarily due to government subsidies received by subsidiaries[24] - The net profit for Q1 2021 was CNY 73,156,315.37, a recovery from a net loss of CNY 96,573,386.13 in Q1 2020[51] - The total comprehensive income for Q1 2021 was CNY 4,000,943.11, contrasting with a total comprehensive loss of CNY 13,376,193.14 in Q1 2020[55] Assets and Liabilities - Total assets increased by 1.98% to CNY 7,452,779,122.00 compared to the end of the previous year[12] - Total liabilities rose to $5,224,105,227.49 from $5,152,556,142.19, marking an increase of around 1.39%[40] - Current liabilities totaled $4,787,951,850.85, compared to $4,712,238,277.46, showing a growth of about 1.60%[40] - The company's equity attributable to shareholders rose to $1,469,534,805.32 from $1,426,899,944.23, reflecting an increase of approximately 2.97%[40] Cash Flow - Net cash flow from operating activities decreased by 96.15% to CNY 5,883,747.77 compared to the previous year[12] - The cash flow from operating activities for Q1 2021 was CNY 5,883,747.77, a decrease from CNY 153,019,180.62 in Q1 2020[59] - The net cash flow from operating activities for Q1 2021 was -53,926,232.79 RMB, compared to -4,151,837.54 RMB in Q1 2020, indicating a significant decline[61] - The total cash and cash equivalents at the end of Q1 2021 were 887,821,036.62 RMB, down from 928,857,430.23 RMB at the end of Q1 2020[61] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,707[16] - The largest shareholder, Dongfeng Motor Parts (Group) Co., Ltd., held 203,814,000 shares, accounting for 65% of total shares[16] Expenses - Operating costs increased to ¥1,553,250,559.32, up 92.44% from ¥807,122,696.75, reflecting higher costs associated with increased revenue across subsidiaries[21] - The company’s financial expenses increased significantly by 197.33% to ¥3,392,972.24 from ¥1,141,147.80, primarily due to higher costs at a subsidiary[24] - The company’s tax expenses rose by 67.89% to ¥11,838,187.04 from ¥7,051,223.50, reflecting improved revenue performance compared to the previous period[24] Research and Development - Research and development expenses rose by 42.77% to ¥52,691,870.11 from ¥36,905,613.18, indicating a focus on innovation and product development[24] - Research and development expenses for Q1 2021 were CNY 52,691,870.11, compared to CNY 36,905,613.18 in Q1 2020, marking an increase of approximately 42.7%[47] Government Subsidies - Government subsidies recognized during the period amounted to CNY 5,230,645.35, primarily from various subsidiaries[15] Strategic Initiatives - The company is actively pursuing a major asset restructuring involving the acquisition of multiple subsidiaries, which has been approved by the board and shareholders[27] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[49]