CONBA(SH:600572)2021-04-23 16:00Financial Performance - The company achieved operating revenue of CNY 1.591 billion in Q1 2021, a year-on-year decrease of 5.22%[10] - Net profit attributable to shareholders was CNY 47.84 million, down 73.76% compared to the same period last year[10] - The net cash flow from operating activities was CNY 160.98 million, a decrease of 43.14% year-on-year[10] - The company's total assets at the end of the reporting period were CNY 8.919 billion, a decrease of 3.88% from the end of the previous year[10] - The self-care product business generated sales of CNY 818 million, a decline of 10.78%, accounting for 51.69% of main business revenue[11] - Sales revenue from respiratory medications decreased by 56.31% due to reduced demand following the normalization of COVID-19 prevention measures[13] - The company reported a fair value loss of CNY 119.99 million related to JHBP(CY) Holdings Limited, impacting net profit significantly[14] - Excluding non-recurring losses, the adjusted net profit attributable to shareholders was approximately CNY 147 million, reflecting a year-on-year growth of about 22.50%[14] - The company’s weighted average return on equity decreased by 2.89 percentage points to 0.95%[10] - Basic earnings per share were CNY 0.02, a decrease of 71.43% compared to the previous year[10] - The company reported a net loss of 74,084,425.26 RMB due to significant fair value changes in financial assets, primarily related to JHBP(CY) shares[17] - Total revenue for Q1 2021 was CNY 1,591,042,909.28, a decrease of 5.2% compared to CNY 1,678,628,374.37 in Q1 2020[40] - Total operating costs for Q1 2021 were CNY 1,381,852,110.24, down 4.8% from CNY 1,451,988,611.94 in Q1 2020[40] - Gross profit margin for Q1 2021 was approximately 13.2%, compared to 11.5% in Q1 2020[40] - Net profit attributable to shareholders for Q1 2021 was CNY 86,645,484.18, a significant recovery from a loss of CNY 68,752,416.23 in Q1 2020[40] Assets and Liabilities - The company's total assets amounted to approximately RMB 8.92 billion, a decrease from RMB 9.28 billion as of December 31, 2020[29] - Total current liabilities decreased to RMB 2.91 billion from RMB 3.25 billion, a reduction of about 10%[32] - The company's long-term borrowings were reported at RMB 384.29 million, down from RMB 502.71 million, indicating a decrease of approximately 24%[32] - The company’s total non-current assets were RMB 5.04 billion, down from RMB 5.14 billion, reflecting a decline of approximately 2%[32] - Total liabilities decreased to CNY 2,560,281,288.57 from CNY 2,815,401,441.62 in the previous year[40] - Shareholders' equity increased to CNY 4,777,620,053.88 from CNY 4,622,222,153.47 year-over-year[40] Cash Flow - Cash and cash equivalents decreased by 37.92% to 977,780,627.76 RMB, attributed to a reduction in financing scale[20] - Accounts receivable increased by 45.37% to 1,250,153,117.12 RMB, due to enhanced collection efforts in Q4 2020[20] - The company experienced a 43.14% decline in net cash flow from operating activities, totaling 160,975,605.45 RMB, impacted by production halts at Guizhou Baiter[25] - Investment income plummeted by 107.22% to -2,560,405.76 RMB, as the previous year included gains from the transfer of JHBP(CY) shares[23] - The company reported a significant decrease in financial expenses by 41.00%, reflecting lower financing scale and interest rates[23] - The company’s cash flow from investing activities saw a drastic decline of 116.20%, resulting in -14,542,008.52 RMB, due to previous year’s large inflows from share transfers[25] - The company’s financing activities generated a net cash outflow of -651,655,527.05 RMB, a decrease of 1,892.49% compared to the previous year, indicating reduced financing activities[25] - The ending balance of cash and cash equivalents was CNY 887,519,255.77, down from CNY 1,752,546,341.31 at the end of the first quarter of 2020, reflecting a decrease of about 49%[50] - Cash inflow from operating activities was CNY 1,459,952,583.45, down from CNY 1,667,229,284.89 in the same period last year, indicating a decline of about 12.5%[48] - Cash inflow from sales of goods and services of CNY 1,342,124,768.80, compared to CNY 1,583,931,036.11 in the previous year, representing a decline of approximately 15%[48] - The company received tax refunds amounting to CNY 9,724,488.49, which is an increase from CNY 3,647,599.25 in the first quarter of 2020, indicating a growth of about 167%[48] Shareholder Information - Total shareholders reached 126,005, with the largest shareholder, Zhejiang Traditional Chinese Medicine Health Industry Group, holding 20.00% of shares[17] - The company's major shareholder, Zhejiang Provincial Traditional Chinese Medicine Health Industry Group Co., Ltd., holds 20% of the shares, maintaining its status as the controlling shareholder[26] - The share transfer agreement resulted in a change in ownership, with 康恩贝集团公司 increasing its stake to 8.11% of the total shares[26] Research and Development - Research and development expenses for Q1 2021 were CNY 38,359,964.43, a slight decrease from CNY 39,410,760.07 in Q1 2020[40] - Research and development expenses for Q1 2021 amounted to ¥8,802,823.51, slightly up from ¥8,134,671.49 in Q1 2020[46]