Zhejiang Longsheng(SH:600352)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 9.11% to CNY 1.07 billion year-on-year[4] - Operating revenue slightly declined by 0.61% to CNY 4.17 billion compared to the same period last year[4] - Basic earnings per share decreased by 10.12% to CNY 0.3322[4] - The weighted average return on net assets decreased by 0.90 percentage points to 3.78%[4] - The company reported a decrease in employee compensation payable to CNY 572.07 million from CNY 710.60 million, a decline of approximately 19.48%[15] - Operating profit for Q1 2021 was RMB 1,337,518,846.15, compared to RMB 1,455,933,184.04 in the same period last year, reflecting a decrease of 8.12%[20] - Net profit for Q1 2021 was RMB 1,128,612,061.09, down 6.66% from RMB 1,209,003,688.78 in Q1 2020[20] Assets and Liabilities - Total assets increased by 5.79% to CNY 59.58 billion compared to the end of the previous year[4] - Current assets totaled CNY 39.23 billion, up from CNY 38.17 billion, indicating a growth of about 2.77%[13] - Total liabilities reached CNY 28.42 billion, up from CNY 26.23 billion, representing a growth of about 8.34%[15] - The non-current assets totaled CNY 20.35 billion, an increase from CNY 18.14 billion, indicating a growth of about 12.14%[14] - Total liabilities increased to RMB 15,421,051,098.90 in Q1 2021, up 13.14% from RMB 13,627,292,539.89 in Q1 2020[18] - The total liabilities were reported at ¥18,330,883,689.52, compared to ¥18,393,595,969.12 at the end of 2020, indicating a decrease in liabilities[29] Cash Flow - Net cash flow from operating activities decreased significantly by 67.51% to CNY 337.53 million[4] - The company reported a net increase in cash and cash equivalents of ¥218,480,443.55, compared to a decrease of ¥115,478,823.48 in Q1 2020[27] - The cash flow from operating activities in Q1 2021 was ¥337,532,600.65, down 67.5% from ¥1,038,805,715.71 in Q1 2020[24] - The cash inflow from operating activities was significantly higher at ¥5,233,396,206.20 compared to ¥2,855,667,979.71 in Q1 2020[26] Shareholder Information - The number of shareholders reached 182,729 by the end of the reporting period[7] - The largest shareholder, Ruan Shuilong, holds 11.98% of the shares, totaling 389,653,992 shares[7] Investments and Income - Investment income surged by 141.97% to CNY 320,553,972.76, attributed to higher gains from investment disposals[10] - The company reported investment income of RMB 320,553,972.76 in Q1 2021, significantly higher than RMB 132,477,009.31 in Q1 2020[20] - Government subsidies recognized in the current period amounted to CNY 191.34 million[5] - Non-operating income and expenses totaled CNY 300.63 million, with various components contributing to this figure[6] Other Financial Metrics - Accounts receivable increased by 30.58% to CNY 2,288,924,445.80 due to a significant rise in bank acceptance bills collected during the period[9] - Prepayments rose by 61.17% to CNY 392,964,513.58 primarily due to increased advance payments for raw material purchases[10] - Short-term borrowings increased by 43.41% to CNY 10,113,176,551.45 to supplement short-term liquidity needs[10] - Contract liabilities rose by 31.29% to CNY 1,633,216,867.71, reflecting an increase in advance payments received from subsidiaries[10] - The company reported a 35.31% increase in taxes and surcharges to CNY 31,762,207.21, primarily due to higher urban construction tax and education surcharges[10] - The company experienced a 80.75% increase in minority interest profit to CNY 59,820,089.71, driven by improved net profits from subsidiaries with minority interests[10]