MFSP(SH:600235)2021-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 373,579,154.27, representing a 21.42% increase year-on-year[5] - Net profit attributable to shareholders surged by 98.95% to CNY 15,553,456.04 compared to the same period last year[5] - Basic and diluted earnings per share doubled to CNY 0.044 from CNY 0.022 in the previous year[5] - Total operating revenue for Q1 2021 reached ¥373,579,154.27, an increase of 21.4% compared to ¥307,663,599.80 in Q1 2020[24] - The net profit for Q1 2021 was CNY 16,440,655.20, compared to CNY 7,824,426.61 in Q1 2020, indicating a growth of 109.5%[29] - The total comprehensive income for Q1 2021 was CNY 16,440,655.20, up from CNY 7,824,426.61 in the same period last year[29] - The company's operating profit for Q1 2021 was CNY 16,429,904.60, compared to CNY 7,784,859.81 in Q1 2020, reflecting a growth of 110.5%[28] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -10,380,646.45, a decrease of 132.46% compared to the previous year[5] - The cash flow from operating activities showed a net outflow of CNY 10,380,646.45 in Q1 2021, a significant decrease from a net inflow of CNY 31,982,353.56 in Q1 2020[31] - The total cash inflow from financing activities was 175,000,000.00 RMB, compared to 285,077,695.00 RMB in the same period last year[34] - The net cash flow from financing activities improved to 73,821,403.70 RMB, reversing from a negative 5,791,814.25 RMB in Q1 2020[35] - The ending balance of cash and cash equivalents reached 200,328,296.12 RMB, compared to 87,814,540.69 RMB at the end of Q1 2020[35] Assets and Liabilities - Total assets increased by 3.58% to CNY 2,259,782,448.94 compared to the end of the previous year[5] - The company's current assets totaled RMB 1,106,482,088.28, compared to RMB 1,021,435,950.83 as of March 31, 2020, reflecting a growth of approximately 8.5%[15] - The company's total liabilities as of March 31, 2021, were RMB 899,899,783.83, up from RMB 837,293,932.00 a year earlier[17] - Total assets amounted to ¥2,248,915,594.84, up from ¥2,164,284,959.26, indicating a growth of 3.9%[20] - The company's total equity increased to ¥1,345,150,635.49 from ¥1,328,709,980.29, showing a growth of 1.2%[21] Expenses and Costs - The company reported a significant decrease in sales expenses by 78.93% to CNY 218,870.00 due to the new revenue recognition standards[10] - Total operating costs for Q1 2021 were CNY 294,945,317.47, compared to CNY 243,695,433.28 in Q1 2020, marking an increase of 21.0%[28] - Financial expenses for Q1 2021 were CNY 5,532,004.62, down from CNY 8,526,230.78 in Q1 2020, indicating a reduction of 35.5%[28] Shareholder Information - The company’s major shareholder, Jiaxing Minfeng Group Co., Ltd., holds 34.87% of the shares, with 84,300,000 shares frozen[9] - The controlling shareholder, Jiaxing Minfeng Group Co., Ltd., holds a total of 122,500,000 shares, with 84,300,000 shares frozen, accounting for 24.00% of the total share capital and 68.82% of its holdings[12] - Jiaxing Minfeng Group is required to pay a remaining receivable of RMB 380,238,403.22 and a penalty calculated based on the loan market quotation rate (LPR) from December 31, 2019, to the actual payment date[12] Research and Development - Research and development expenses for Q1 2021 were ¥11,007,474.78, slightly up from ¥10,674,728.25 in Q1 2020, indicating a focus on innovation[24] - Research and development expenses for Q1 2021 were CNY 10,703,453.42, slightly up from CNY 10,356,928.51 in Q1 2020[28]