BVEA(SH:600379)2021-04-27 16:00Financial Performance - Net profit attributable to shareholders increased by 83.85% to CNY 6,682,698.79 compared to the same period last year[6] - Operating revenue rose by 22.18% to CNY 206,767,582.49 year-on-year[6] - Basic earnings per share increased by 83.64% to CNY 0.0202 per share[6] - Net profit for Q1 2021 reached CNY 6,682,698.79, representing a 83.3% increase from CNY 3,634,782.53 in Q1 2020[40] - The company reported a net profit margin of approximately 3.2% for Q1 2021, compared to 2.1% in Q1 2020, reflecting improved profitability[40] - The company’s total profit for Q1 2021 was CNY 7,224,652.96, compared to CNY 4,846,868.60 in Q1 2020, representing a growth of around 49.0%[43] Cash Flow and Liquidity - Net cash flow from operating activities surged by 164.81% to CNY 44,095,275.77 compared to the same period last year[6] - Cash flow from operating activities generated a net amount of CNY 44,095,275.77 in Q1 2021, significantly up from CNY 16,651,933.89 in Q1 2020, marking an increase of approximately 164.0%[45] - Total cash and cash equivalents at the end of Q1 2021 reached CNY 204,648,797.40, compared to CNY 122,465,697.36 at the end of Q1 2020, reflecting a growth of about 67.0%[46] - The total cash and cash equivalents at the end of Q1 2021 reached ¥180,249,795.45, up from ¥91,993,331.64 at the end of Q1 2020, indicating an increase of about 96%[49] - Cash inflows from financing activities were CNY 607,688.01 in Q1 2021, down from CNY 3,604,673.73 in Q1 2020, showing a decrease of approximately 83.1%[46] Assets and Liabilities - Total assets increased by 13.53% to CNY 989,668,011.68 compared to the end of the previous year[6] - The company’s total assets reached approximately 989.67 million RMB as of March 31, 2021, compared to 871.76 million RMB at the end of 2020, reflecting a growth of about 13.5%[33] - The company’s total liabilities increased to approximately 414.12 million RMB, compared to 303.52 million RMB at the end of 2020, representing a growth of about 36.5%[32] - Total liabilities rose to CNY 357,455,511.44 in Q1 2021, up from CNY 263,653,490.02 in Q1 2020, indicating a 35.5% increase[37] - The total liabilities increased by 36,682,328.72 due to the new leasing standards[58] Investments and Acquisitions - The company plans to establish a joint venture focused on energy storage applications with a registered capital of ¥10 million, with the company contributing ¥4.5 million[22] - The acquisition price for energy storage frequency regulation projects is set at ¥182,280,022[25] - The company is in the process of acquiring intellectual property rights related to energy storage frequency regulation technology for a price not exceeding 6 million RMB[26] Operational Efficiency - The company’s accounts payable increased by 407.21% to CNY 65,937,908.10, primarily due to an increase in self-issued promissory notes[15] - Cash received from other operating activities increased to ¥12,497,909.08, a 368.16% increase year-over-year due to social security refunds received[19] - Cash paid for purchasing goods and services decreased to ¥20,479,051.56, a 45.72% decline year-over-year attributed to reduced material procurement payments[20] - Research and development expenses for Q1 2021 amounted to CNY 9,072,548.10, slightly higher than CNY 8,615,688.21 in Q1 2020, showing a growth of 5.3%[40] Changes in Equity - The company’s equity attributable to shareholders reached approximately 575.55 million RMB, compared to 568.24 million RMB at the end of 2020, showing a slight increase of about 1.3%[33] - The company's total equity remained stable at ¥568,239,192.13 as of January 1, 2021, unchanged from the previous period[53] Regulatory and Strategic Developments - The company is in the process of strategic restructuring with its controlling shareholder, which is still in the planning stage and subject to regulatory approval[21] - The company executed a new leasing standard starting January 1, 2021, which resulted in an adjustment of ¥36,682,328.72 to the right-of-use assets and lease liabilities[54] - The total non-current liabilities increased from ¥29,679,944.87 to ¥66,362,273.59, indicating a rise of approximately 123% due to the new leasing standard[53]