Gofar Stock(SH:600538)2021-04-26 16:00Financial Performance - In Q1 2021, the company's revenue increased by 59.69% year-on-year, reaching approximately CNY 94.01 million[6]. - The net profit attributable to shareholders surged by 311.71% year-on-year, amounting to approximately CNY 4.24 million[6]. - Basic and diluted earnings per share both increased by 300% to CNY 0.008[6]. - Operating revenue increased by 59.69% year-on-year to ¥94,013,120.68 for Q1 2021, largely due to the consolidation of Gaosheng's financial results following its acquisition.[14]. - Net profit attributable to shareholders increased by 311.71% year-on-year to ¥4,243,769.15 for Q1 2021, reflecting significant growth from the previous year.[14]. - Operating profit for Q1 2021 was ¥5,080,857.20, compared to ¥1,809,825.70 in Q1 2020, reflecting a significant improvement[36]. - Net profit for Q1 2021 was ¥3,759,348.37, up from ¥1,030,767.35 in Q1 2020, indicating a growth of 264.5%[37]. Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 526.54% year-on-year, resulting in a negative cash flow of approximately CNY -28.77 million[6]. - The company reported a net cash outflow from operating activities of ¥28,765,844.61, a decrease of 526.54% year-on-year, primarily due to slower accounts receivable collections.[14]. - Cash and cash equivalents decreased by 33.74% to ¥140,032,398.10 as of March 31, 2021, primarily due to the payment for the acquisition of Guangzhou Gaosheng Biotechnology Co., Ltd.[12]. - The company reported a significant increase in sales expenses, which rose to CNY 1,595,402.28 in Q1 2021 from CNY 948,455.60 in Q1 2020[39]. - The company experienced a decrease in operating costs, which fell to CNY 8,475,305.95 in Q1 2021 from CNY 9,450,845.64 in Q1 2020[39]. - The company’s cash inflow from operating activities was significantly lower than cash outflows, indicating potential liquidity challenges moving forward[45]. Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 1.03 billion, a decrease of 3.31% compared to the previous year[6]. - The company's total assets as of March 31, 2021, amounted to CNY 1,033,539,372.87, a decrease from CNY 1,068,937,499.81 on December 31, 2020[30]. - Total liabilities decreased to CNY 183,061,318.37 from CNY 217,265,963.49[31]. - The company's equity attributable to shareholders was CNY 843,708,165.90, slightly down from CNY 844,417,226.94[31]. - Total current assets amounted to 199,291,588.47, with cash and cash equivalents at 86,863,736.41[51]. - Current liabilities totaled 95,249,156.31, with accounts payable at 1,785,184.86 and other payables at 91,073,492.54[53]. Acquisitions and Investments - The company completed the acquisition of Guangzhou Gaosheng Biotechnology Co., which significantly impacted the profit and loss statement[6]. - The acquisition of Gaosheng was valued at ¥36,000,000, with cash consideration amounting to ¥15,815,970 and share consideration of ¥19,753,360.[15]. - The company is in the process of raising up to ¥100,000,000 in additional funds related to the acquisition, which is still pending completion.[17]. - The company transferred its 15% stake in Shanghai Hanhua Biotechnology Co., Ltd. for zero consideration to mitigate risks associated with the newly established entity.[20]. - The company is focusing on investment activities, as evidenced by the substantial increase in cash inflow from investment activities compared to the previous year[45]. Shareholder Information - The company reported a total of 17,021 shareholders at the end of the reporting period[9]. - The controlling shareholder Zhu Rongjuan reduced her stake by 9.57 million shares during the reporting period[21]. - Guizhou Guofa Investment Group extended the pledge of 14.505 million shares to July 25, 2021, originally due on January 25, 2021[23]. - Zhu Rongjuan's 68.96 million pledged shares have a repurchase date extended to April 9, 2022[23]. - Guofa Group plans to repurchase 7.145 million shares within 12 months from May 8, 2020[24]. Research and Development - Research and development expenses surged to ¥1,634,607.66, a substantial increase of 9,352.68% compared to the same period last year, indicating a strong focus on innovation.[14]. - Research and development expenses increased to CNY 28,977.86 in Q1 2021, up from CNY 17,292.54 in Q1 2020, indicating a focus on innovation[39].