BJBASHI(SH:600386)2021-04-21 16:00Financial Performance - Operating revenue increased by 46.40% to CNY 973,841,415.74 compared to the same period last year[12] - Net profit attributable to shareholders was CNY 17,519,201.02, a significant recovery from a loss of CNY 38,739,305.74 in the previous year[5] - Operating profit for Q1 2021 was ¥38,789,745.01, recovering from a loss of ¥32,521,849.22 in Q1 2020[29] - The company's operating revenue for Q1 2021 was CNY 47,570,763.35, an increase of 22.5% compared to CNY 38,891,988.57 in Q1 2020[31] - The net profit for Q1 2021 was CNY 23,694,882.88, a significant improvement from a net loss of CNY 44,442,250.62 in Q1 2020[30] - The total profit for Q1 2021 was CNY 38,636,511.15, compared to a total loss of CNY 33,840,954.86 in the same period last year[30] - The basic earnings per share for Q1 2021 was CNY 0.02, recovering from a loss of CNY 0.05 per share in Q1 2020[30] Cash Flow - Cash flow from operating activities improved, with a net cash outflow of CNY 29,905,320.03, an improvement from CNY 39,826,199.97 in the previous year[5] - Cash received from operating activities decreased by 51.38%, primarily due to a reduction in cash received by Haiyijie from other operating activities[15] - Cash paid for purchasing goods and services increased by 30.17%, mainly due to higher vehicle purchase payments by Haiyijie[15] - Cash received from the disposal of fixed assets increased by 376.97%, mainly due to asset disposals by subsidiaries Bus Leasing and Haiyijie[15] - Cash inflow from operating activities in Q1 2021 was CNY 976,564,680.58, up from CNY 759,497,066.76 in Q1 2020[34] - The net cash flow from operating activities for Q1 2021 was -29,905,320.03 RMB, an improvement from -39,826,199.97 RMB in Q1 2020[35] Assets and Liabilities - Total assets decreased by 2.81% to CNY 4,383,946,698.31 compared to the end of the previous year[5] - Total assets amounted to CNY 4,510,657,012.12, a decrease of CNY 156,587,814.02 compared to the previous period[43] - Current liabilities decreased from ¥1,406,434,439.10 to ¥1,240,514,282.94, indicating improved liquidity management[22] - Total liabilities as of March 31, 2021, were ¥569,905,687.53, down from ¥618,286,091.50 at the end of 2020[26] - Shareholders' equity totaled ¥1,576,384,727.92 as of March 31, 2021, compared to ¥1,588,240,354.46 at the end of 2020[26] Research and Development - Research and development expenses were CNY 5,479,126.47, indicating ongoing investment in innovation[12] - R&D expenses increased by ¥5,479,126.47, attributed to changes in reporting categories and increased investment in R&D by subsidiaries Tianjiao and Longrui Sanyou[13] - Research and development expenses for Q1 2021 were ¥5,479,126.47, indicating ongoing investment in innovation[29] Market Strategy - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming quarters[5] - Revenue increased by 46.40% compared to the previous period, primarily due to increased sales from the subsidiary Haiyijie Automotive[13] - Operating costs rose by 42.80%, mainly due to the corresponding increase in sales costs associated with the higher revenue from Haiyijie Automotive[13] Other Income and Expenses - Other income rose by 58.11%, mainly due to an increase in vocational skill subsidies received by the company[13] - The company incurred a tax expense of CNY 14,941,628.27 in Q1 2021, compared to CNY 10,601,295.76 in Q1 2020[30] - The company reported a net impairment loss of ¥3,898,123.19 in Q1 2021, reflecting challenges in asset valuation[29]