GUOTONG PP(SH:600444)2021-04-22 16:00Financial Performance - The net profit attributable to shareholders of the listed company was CNY 7,656,150.77, an increase of 42.41% year-on-year, driven by improved performance in the pipe business and increased interest income[7]. - The company's revenue for the reporting period was CNY 145,314,242.26, reflecting a year-on-year growth of 2.88%[5]. - The diluted earnings per share increased by 40.5% to CNY 0.052 compared to CNY 0.037 in the same period last year[5]. - The company reported a net profit of CNY 6,318,082.94, which is a significant increase of 97.42% compared to CNY 3,200,324.81 in the same period last year[5]. - Total revenue for Q1 2021 was CNY 145,314,242.26, an increase of 2.4% compared to CNY 141,240,316.12 in Q1 2020[27]. - Net profit for Q1 2021 reached CNY 7,656,150.77, representing a 42.5% increase from CNY 5,376,134.91 in Q1 2020[29]. - Basic earnings per share for Q1 2021 were CNY 0.052, compared to CNY 0.037 in Q1 2020, marking a 40.5% increase[29]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,096,657,000.23, a decrease of 7.05% compared to the end of the previous year[5]. - Total liabilities decreased by 16% to CNY 477.33 million from CNY 568.46 million[21]. - The total current assets decreased to CNY 979.95 million from CNY 1,064.38 million, a decline of approximately 8%[19]. - The company's total assets decreased to CNY 1,096.66 million from CNY 1,179.87 million, reflecting a decline of about 7%[20]. - Total liabilities as of March 31, 2021, were CNY 75,312,620.38, an increase from CNY 70,172,046.65 at the end of 2020[25]. - Total current assets as of March 31, 2021, amounted to CNY 271,035,051.53, slightly up from CNY 268,647,551.39 at the end of 2020[24]. - Total liabilities were ¥568,463,834.30, with current liabilities accounting for ¥561,574,962.18[41]. Cash Flow - The operating cash flow for the reporting period was -CNY 51,659,776.21, primarily due to payments for new projects[7]. - Cash received from operating activities rose by 21% to CNY 141.67 million compared to CNY 116.63 million in the previous year[16]. - Cash paid for taxes increased by 80% to CNY 15.12 million from CNY 8.40 million[16]. - The cash flow from operating activities showed a net outflow of ¥51,659,776.21 in Q1 2021, compared to a net inflow of ¥2,515,717.46 in Q1 2020[36]. - The total cash and cash equivalents at the end of the period were ¥34,165,469.09, down from ¥36,575,015.60 at the beginning of the period[38]. Shareholder Information - The total number of shareholders at the end of the reporting period was 7,856[12]. - The largest shareholder, Hefei General Machinery Research Institute Co., Ltd., held 36.82% of the shares[12]. Expenses and Costs - Total operating costs for Q1 2021 were CNY 141,451,186.04, up from CNY 138,782,153.84 in Q1 2020, reflecting a growth of 1.2%[27]. - Sales expenses doubled to CNY 4.21 million from CNY 2.11 million, indicating increased sales activities[15]. - Research and development expenses for Q1 2021 were CNY 7,058,670.56, up from CNY 6,713,582.00 in Q1 2020, reflecting a commitment to innovation[27]. - The company incurred credit impairment losses of ¥3,345,579.53 in Q1 2021, compared to ¥1,827,211.36 in Q1 2020, suggesting challenges in asset quality[31]. Government Subsidies - The company received government subsidies amounting to CNY 814,443.11, which are closely related to its normal business operations[9]. Compliance and Standards - The company is focusing on compliance with new accounting standards, which may impact future financial reporting and analysis[42]. - The implementation of the new leasing standard resulted in an adjustment of ¥5,696,794.20 to the balance sheet[42]. - The company implemented the new leasing standard effective January 1, 2021, impacting financial statement adjustments[47].