TYPICAL(SH:600302)2021-04-29 16:00Financial Performance - The company achieved operating revenue of CNY 398,430,763.83, representing a year-on-year increase of 235.85%[6] - The net cash flow from operating activities was CNY 2,368,990.07, a turnaround from a negative cash flow of CNY -18,066,610.87 in the same period last year, marking a 113.11% improvement[6] - The net profit attributable to shareholders was CNY -15,082,230.91, a decline of 49.75% year-on-year[6] - Operating cash flow increased to ¥2,368,990.07 from a negative ¥18,066,610.87, representing a 113.11% change due to increased supply chain business volume and higher cash receipts[16] - Revenue rose to ¥398,430,763.83, a 235.85% increase compared to ¥118,632,488.44, driven by higher supply chain business volume[17] - Operating costs increased to ¥355,805,969.97, reflecting a 276.91% rise from ¥94,401,845.94, attributed to the increased business volume[17] - Net profit attributable to the parent company was a loss of ¥15,082,230.91, worsening by 49.75% from a loss of ¥10,071,613.67, mainly due to a decrease in non-recurring income[17] - The net loss for Q1 2021 was ¥15,410,012.78, worsening from a net loss of ¥10,585,146.27 in Q1 2020[28] - The company's total operating revenue for Q1 2021 was ¥37,767,794.45, a decrease of 14.1% compared to ¥44,235,957.03 in Q1 2020[30] - The net profit for Q1 2021 was -¥8,318,292.61, compared to -¥876,591.06 in Q1 2020, indicating a significant increase in losses[31] Assets and Liabilities - The total assets increased by 24.02% to CNY 2,622,898,532.39 compared to the end of the previous year[6] - Current liabilities increased to ¥1,315,678,982.95 from ¥793,364,142.42, reflecting a significant rise in short-term borrowings and accounts payable[21] - The total assets as of March 31, 2021, amounted to ¥2,622,898,532.39, up from ¥2,114,962,799.59[19] - Current assets totaled ¥1,588,508,885.19 as of March 31, 2021, compared to ¥1,232,949,292.97 at the end of 2020, marking a growth of about 28.9%[24] - The company's total liabilities reached ¥777,325,594.04, up from ¥415,283,885.17 at the end of 2020, indicating an increase of around 87.2%[24] - The total equity as of March 31, 2021, was ¥1,175,795,300.23, slightly down from ¥1,184,113,592.84 at the end of 2020, a decrease of about 0.7%[24] Cash Flow - Cash flow from investment activities improved to ¥55,820,909.38 from a negative ¥197,106,458.85, marking a 128.32% change due to the maturity of bank wealth management investments[16] - Cash flow from financing activities surged to ¥246,127,221.86 from ¥13,662,493.81, a 1701.48% increase due to an increase in short-term loans for supply chain operations[16] - The total cash and cash equivalents at the end of Q1 2021 were ¥605,612,398.45, up from ¥167,714,619.41 at the end of Q1 2020[33] - The company's total cash and cash equivalents at the end of the period reached $507,280,769.02, up from $180,682,032.43 at the beginning of the period, indicating a net increase of $326,598,736.59[36] - The cash inflow from investment activities was $122,666,750, while cash outflow was $60,018,396, resulting in a positive net cash flow from investment activities[36] Research and Development - The company applied for 9 patents during the reporting period, including 2 invention patents, bringing the total number of valid patents to 303[12] - The company completed small batch production and prototype testing for two models of intelligent multi-axis sewing machines and one multi-axis overlock machine[12] - The company's R&D expenses in Q1 2021 were ¥1,415,799.14, down 22.3% from ¥1,822,810.78 in Q1 2020[31] Operational Changes - The company is actively cooperating with the government on the relocation of its factory, which is expected to impact future operations positively[16] - The company's credit impairment loss was ¥1,122,728.11 in Q1 2021, compared to a gain of -¥97,616.09 in Q1 2020, reflecting a significant deterioration in asset quality[27] Other Financial Information - The weighted average return on net assets decreased by 0.30 percentage points to -1.24%[6] - The company's basic earnings per share were CNY -0.0436, a decrease of 49.83% compared to the previous year[6] - Basic and diluted earnings per share for Q1 2021 were both -¥0.0436, compared to -¥0.0291 in Q1 2020, indicating a decline in profitability[28] - The company did not apply the new lease accounting standards for the current year, indicating no adjustments were made to prior financial statements[36] - The company's financial report did not include an audit report, indicating it may not have undergone an external audit for this period[36]