CORUN(SH:600478)2021-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 484,148,470.82, representing a 61.82% increase year-on-year[12] - Net profit attributable to shareholders was CNY 11,697,484.15, a significant recovery from a loss of CNY 39,167,121.47 in the same period last year[12] - Basic earnings per share improved to CNY 0.007 from a loss of CNY -0.024 in the same period last year[15] - The weighted average return on equity increased to 0.46%, up by 2.03 percentage points from -1.57% year-on-year[12] - The company reported a significant increase in derivative financial assets, which rose by 1,321.08% to RMB 5.09 million, indicating a focus on hedging activities[22] - The company reported a net profit of 1,545,721.38 CNY, compared to a net loss of 47,560,975.24 CNY in the previous period, indicating a significant turnaround[51] - Total revenue for the first quarter of 2021 was 46,039,579.06 CNY, up from 29,493,305.80 CNY in the same period last year, representing a year-over-year increase of approximately 56%[54] - Operating profit for the first quarter was 27,623,859.06 CNY, compared to an operating loss of 6,544,033.71 CNY in the previous year, showing a substantial improvement[56] - The company reported a total comprehensive income of 27,648,008.50 CNY, compared to a loss of 6,413,460.16 CNY in the previous year, indicating a positive shift in overall financial health[57] Assets and Liabilities - Total assets increased by 3.47% to CNY 6,362,525,263.67 compared to the end of the previous year[12] - The company's total assets amounted to approximately ¥6.36 billion, an increase from ¥6.15 billion at the end of 2020, reflecting a growth of about 3.4%[36] - The company's current assets reached approximately ¥1.66 billion, up from ¥1.45 billion at the end of 2020, indicating a growth of around 14.5%[33] - The company's total liabilities as of March 31, 2021, were approximately ¥3.32 billion, compared to ¥3.10 billion at the end of 2020, reflecting an increase of about 7.2%[38] - The company's equity attributable to shareholders was approximately ¥2.56 billion, slightly up from ¥2.56 billion at the end of 2020, indicating a marginal increase of about 0.04%[38] - Total liabilities rose to ¥1,980,914,052.32 in Q1 2021, compared to ¥1,844,707,109.05 in Q1 2020, marking an increase of 7.37%[44] Cash Flow - Net cash flow from operating activities was negative at CNY -11,774,937.52, a decline of 107.5% compared to the previous year[12] - Cash flow from operating activities was 418,435,726.45 CNY, down from 520,817,534.66 CNY in the same quarter of the previous year, reflecting a decrease of approximately 20%[59] - Cash inflow from financing activities increased to 452,825,420.28 RMB, up from 309,134,203.11 RMB[62] - The net cash flow from financing activities was 116,952,449.33 RMB, contrasting with a net outflow of -56,168,676.89 RMB last year[62] - Cash received from sales of goods and services was 49,014,653.33 RMB, up from 31,392,125.20 RMB year-over-year[64] Shareholder Information - The total number of shareholders reached 56,210, indicating a broadening of the shareholder base[18] - The top shareholder, Hunan Keli Yuan High-tech Group Co., Ltd., holds 12.36% of shares, while Geely Technology Group Co., Ltd. holds 11.10%[18] Government Support and Strategic Focus - The company received government subsidies amounting to CNY 8,248,505, contributing positively to its financial performance[15] - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[12] - The company is focusing on expanding its HEV vehicle battery supply chain, which has contributed to the strong performance in Q1 2021[21] Costs and Expenses - The gross profit margin improved due to increased sales of battery products, with operating costs rising to RMB 414.83 million, up 56.31% from RMB 265.39 million in the previous year[26] - Research and development expenses for Q1 2021 amounted to ¥17,979,510.73, compared to ¥13,341,157.91 in Q1 2020, indicating a 35% increase[49] - The company incurred financial expenses of 9,825,237.80 CNY, a decrease from 15,121,954.96 CNY in the previous year, resulting in a reduction of approximately 35%[54] - The company reported a decrease in management expenses to 2,562,973.54 CNY from 3,940,134.62 CNY, reflecting a reduction of approximately 35%[54]