ANGEL YEAST(SH:600298)2021-04-14 16:00Financial Performance - Net profit attributable to shareholders rose by 45.74% to CNY 442.05 million year-on-year[4] - Operating revenue grew by 29.55% to CNY 2.66 billion compared to the same period last year[4] - Basic earnings per share increased by 45.74% to CNY 0.53642[4] - The total comprehensive income attributable to shareholders of the parent company increased by 207.77% year-on-year, driven by increased net profit and reduced foreign currency translation differences[15] - Net profit after deducting non-recurring gains and losses increased by 47.61% to CNY 414.23 million[4] - Net profit for Q1 2021 was ¥449,243,533.21, representing a 40.5% increase from ¥319,598,615.73 in Q1 2020[28] - The net profit attributable to shareholders of the parent company for Q1 2021 was CNY 442,051,717.10, up 45.8% from CNY 303,314,536.29 in Q1 2020[29] Assets and Liabilities - Total assets increased by 5.23% to CNY 11.37 billion compared to the end of the previous year[4] - The company's total liabilities amounted to approximately CNY 4.74 billion, compared to CNY 4.62 billion, reflecting a growth of about 2.6%[22] - The equity attributable to shareholders increased to approximately CNY 6.33 billion from CNY 5.89 billion, representing a growth of about 7.5%[22] - Current assets totaled ¥4,525,089,147.68 in Q1 2021, up from ¥4,037,729,650.64 in Q1 2020[25] - Total assets as of Q1 2021 amounted to ¥8,639,198,541.69, compared to ¥8,001,258,185.20 at the end of Q1 2020[26] Cash Flow - Cash flow from operating activities showed a significant decline of 260.66%, resulting in a net outflow of CNY 444.51 million[4] - Net cash flow from operating activities decreased by 260.66% year-on-year, mainly due to concentrated procurement of key raw materials[17] - The cash inflow from operating activities for Q1 2021 was CNY 2,674,171,849.76, compared to CNY 2,116,452,598.66 in Q1 2020, showing a growth of 26.3%[32] - The company reported a net cash outflow of -384,228,301.93 for the quarter, contrasting with a net increase of 251,803,119.50 in Q1 2020[33] - Cash outflow for debt repayment was 860,338,153.33, compared to 1,263,188,260.00 in the previous year[34] Expenses - Operating costs increased by 39.38% year-on-year, mainly due to sales growth and the implementation of new accounting standards[12] - R&D expenses increased by 54.31% year-on-year, reflecting the company's increased investment in research and development[13] - Total operating costs for Q1 2021 were ¥2,151,118,275.01, up 27.4% from ¥1,687,955,558.33 in Q1 2020[28] - Research and development expenses increased to ¥103,354,261.02 in Q1 2021, up 54.4% from ¥66,977,831.64 in Q1 2020[28] Shareholder Information - The total number of shareholders reached 74,811 by the end of the reporting period[7] - The largest shareholder, Hubei Angel Biotechnology Group Co., Ltd., holds 39.98% of the shares[8] - The company has implemented a restricted stock incentive plan for 744 individuals, including directors and executives, to enhance employee motivation and retention[18] Government Support - The company received government subsidies amounting to CNY 31.85 million during the reporting period[5] Other Financial Metrics - The weighted average return on equity increased by 1.28 percentage points to 7.23%[4] - Cash received from tax refunds increased by 566.76% year-on-year, primarily due to an increase in export tax rebates[16] - The company’s financial expenses decreased by 79.93% year-on-year, mainly due to lower interest expenses and reduced foreign exchange losses from overseas companies[14] - The company’s other comprehensive income after tax decreased by 159,684,601.64 yuan, mainly due to a reduction in foreign currency translation differences[14]