WOLONG ELECTRIC(SH:600580)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders of the listed company was CNY 131,601,741.27, representing a 40.68% increase year-on-year[11]. - Operating income for the period was CNY 2,988,140,630.85, reflecting a 6.85% growth compared to the same period last year[11]. - The company reported a net profit excluding non-recurring gains and losses of CNY 129,795,901.69, up 55.80% year-on-year[11]. - Basic earnings per share rose to CNY 0.1006, marking a 40.50% increase from the previous year[11]. - The company reported a net profit of CNY 2,641,973,776.97, compared to CNY 2,614,297,081.21 in the previous period, reflecting a growth of 1.06%[25]. - Net profit for Q1 2021 reached CNY 141,685,002.74, a significant increase of 44.7% compared to CNY 97,824,926.47 in Q1 2020[27]. - The net profit attributable to shareholders of the parent company was CNY 131,601,741.27, compared to CNY 93,546,040.88 in the same period last year, marking a growth of 40.6%[28]. - Total comprehensive income for Q1 2021 amounted to CNY 210,865,014.28, compared to CNY 69,175,752.61 in Q1 2020, reflecting a substantial increase[28]. - The company recorded a total comprehensive income of CNY 27,675,827.59 in Q1 2021, compared to CNY 13,951,107.40 in Q1 2020, representing an increase of approximately 98.5%[30]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 244,387,420.13, a significant increase of 282.35% year-on-year[11]. - Cash flow from operating activities showed a net increase of CNY 244,387,420.13 in Q1 2021, compared to CNY 63,916,587.66 in Q1 2020, marking a substantial improvement[32]. - The cash and cash equivalents at the end of Q1 2021 were CNY 1,942,716,651.73, down from CNY 2,011,479,829.42 at the end of Q1 2020, indicating a decrease of about 3.4%[33]. - The cash inflow from investment activities in Q1 2021 was CNY 232,417,336.44, a significant increase from CNY 3,326,127.89 in Q1 2020[32]. - The net cash flow from investment activities was -46,685,071.23 RMB, compared to -48,747,693.27 RMB in the previous period, indicating a slight improvement[34]. - The net cash flow from financing activities was -245,722,924.63 RMB, contrasting with a positive flow of 333,892,870.99 RMB in the previous period[34]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 20,899,429,796.90, a 0.40% increase compared to the end of the previous year[11]. - Total liabilities amounted to CNY 12,603,154,919.57, a slight decrease from CNY 12,632,051,194.71 in the previous period, reflecting a 0.23% decline[22]. - The total equity attributable to shareholders increased to CNY 7,727,929,149.34 from CNY 7,625,779,095.45, representing a growth of 1.34%[22]. - Cash and cash equivalents decreased to CNY 435,305,998.94 from CNY 579,246,891.99, indicating a decline of 24.87%[22]. - Accounts receivable rose to CNY 753,812,938.35, up from CNY 713,733,516.37, marking an increase of 5.61%[24]. - Inventory increased to CNY 359,458,804.64 from CNY 307,802,343.34, reflecting a growth of 16.77%[24]. - Total current assets slightly increased to CNY 4,063,172,329.05 from CNY 4,054,902,190.98, a change of 0.20%[24]. - Long-term borrowings rose to CNY 1,532,817,200.57 from CNY 1,350,689,050.86, showing an increase of 13.49%[25]. - The total assets increased to ¥20,899,429,796.90 from ¥20,816,730,496.18, reflecting a stable growth[21]. - The total current assets reached 10,782,198,947.83 RMB, remaining unchanged from the previous period[36]. Shareholder Information - The total number of shareholders at the end of the reporting period was 73,755[12]. - Zhejiang Wolong Shunyu Investment Co., Ltd. held 32.30% of the shares, with 422,798,480 shares pledged[12]. Expenses and Costs - Total operating costs for Q1 2021 were CNY 2,825,215,386.99, up from CNY 2,699,949,671.13 in Q1 2020, reflecting a year-over-year increase of 4.6%[27]. - R&D expenses for Q1 2021 were CNY 92,622,112.65, up 18.0% from CNY 78,435,234.72 in Q1 2020, indicating a focus on innovation[27]. - The company’s financial expenses increased to CNY 82,631,924.65 in Q1 2021 from CNY 58,880,250.56 in Q1 2020, representing an increase of 40.4%[27]. - The company reported a decrease in sales expenses to CNY 149,286,621.06 in Q1 2021 from CNY 182,503,349.27 in Q1 2020, a reduction of 18.2%[27]. - Non-operating expenses surged by 263.95% to ¥21,536,038.03 primarily due to subsidiary restructuring costs[15]. Government and Regulatory - The company recognized government subsidies amounting to CNY 12,356,477.59 related to its normal business operations[11]. - Cash received from government subsidies rose by 45.20% to ¥176,186,751.61 compared to the previous year[15]. - Tax refunds received increased by 109.75% to ¥48,836,589.68, attributed to higher export tax rebates[15]. Share Buyback - The company initiated a share buyback program approved by the board and shareholders, with ongoing procedures as of the report date[16]. - Treasury stock increased significantly by 1719.77% to ¥105,691,833.84 as a result of share buybacks[15].