TENGDA CONST.(SH:600512)2021-04-27 16:00Financial Performance - Net profit attributable to shareholders increased significantly to CNY 402,132,020.65, compared to a loss of CNY 25,439,143.81 in the same period last year[5] - Operating revenue surged by 195.95% to CNY 2,042,508,056.41 from CNY 690,145,946.96 year-on-year[5] - The company's profit margin improved, with net profit attributable to the main business increasing due to higher sales from the Tengda Center real estate project[12] - The company's net profit for Q1 2021 reached CNY 395,368,076.00, compared to a net loss of CNY 29,285,245.47 in Q1 2020, indicating a turnaround in profitability[27] - The total profit for Q1 2021 was CNY 495,654,497.67, compared to a total loss of CNY 20,221,970.87 in Q1 2020[27] Cash Flow - Net cash flow from operating activities reached CNY 434,270,350.99, a substantial increase of 2,031.47% compared to CNY 20,374,248.31 in the previous year[5] - Cash flow from operating activities increased to CNY 2,200,220,043.74 in Q1 2021, compared to CNY 1,584,596,031.95 in Q1 2020, representing a growth of 38.8%[31] - Total cash inflow from operating activities was CNY 1,791,945,997.02, reflecting a 31.3% increase from CNY 1,364,938,179.40 in the previous year[34] - The cash flow from investment activities improved by 42.68%, with a net cash outflow of RMB 265,975,293.52 compared to RMB 464,038,010.88 in the previous year[12] - The net cash flow from investing activities improved to CNY 2,548,455.52 in Q1 2021, compared to a negative CNY 194,778,689.08 in Q1 2020[35] Assets and Liabilities - Total assets decreased by 2.92% to CNY 10,606,850,175.66 compared to the end of the previous year[5] - Current liabilities totaled ¥4,418,517,192.39 as of March 31, 2021, down from ¥5,157,495,771.53 at the end of 2020, a decrease of approximately 14.3%[18] - Total liabilities reached CNY 5,755,282,200.66, with current liabilities at CNY 5,157,495,771.53 and non-current liabilities at CNY 597,786,429.13[39] - Total assets amounted to approximately $8.15 billion, with non-current assets totaling around $2.14 billion[43] - The total liabilities amounted to approximately $2.71 billion, reflecting the company's financial obligations[43] Shareholder Information - The number of shareholders reached 80,272, with the top ten shareholders holding a combined 20.72% of shares[9] - The company's equity attributable to shareholders increased to ¥5,703,225,724.65 from ¥5,295,654,567.20, representing a growth of about 7.7%[19] - Owner's equity stood at approximately $5.45 billion, reflecting a stable financial position[44] Expenses - Research and development expenses decreased by 52.70% to RMB 15,674,392.52, down from RMB 33,134,955.47 in the previous year[12] - The company reported a significant reduction in financial expenses, down 71.63% to RMB 4,176,062.10, due to decreased bank borrowings[12] - The financial expenses for Q1 2021 were CNY 4,176,062.10, down from CNY 14,718,094.28 in Q1 2020, showing a decrease of 71.7%[27] Capital and Investments - The company completed a capital increase of RMB 120 million for its wholly-owned subsidiary, Shanghai Tengda Investment Co., Ltd.[13] - The company has authorized a budget of up to RMB 1.4 billion for land bidding and acquisition over the next 12 months[13] - The company reported investment income of CNY 59,244,334.36 in Q1 2021, an increase from CNY 56,938,489.04 in Q1 2020[27] Other Financial Metrics - The weighted average return on equity improved to 7.32% from -0.55% year-on-year[5] - The company's income tax expenses surged by 1,006.51% to RMB 100,286,421.67, driven by increased profitability from real estate sales[12] - The implementation of the new leasing standard did not have a significant impact on the company's financial position and operating results[40]