CSF(SH:600654)2021-04-29 16:00Financial Performance - The net assets attributable to shareholders decreased by 71.37% compared to the end of the previous period, primarily due to losses in net profit during the current period[11]. - Operating revenue increased by 36.66% year-on-year, reaching approximately ¥661.07 million, attributed to the recovery of business activities as the impact of the pandemic lessened[11]. - The net profit attributable to shareholders was a loss of approximately ¥63.04 million, an improvement of 42.54% compared to the previous year's loss[11]. - Basic and diluted earnings per share improved by 44.44%, both reported at -¥0.05 per share, reflecting increased revenue and reduced penalty expenses[11]. - The company reported a net loss of RMB 2,458,815,118.49, compared to a loss of RMB 2,395,779,540.37 in the previous period[69]. - The total comprehensive income for Q1 2021 was -¥66,097,482.19, compared to -¥133,203,214.65 in Q1 2020[80]. - The net profit for Q1 2021 was -¥63,035,578.12, an improvement from -¥109,700,810.87 in Q1 2020[80]. - The net profit for Q1 2021 was -¥44,995,463.55, an improvement compared to -¥56,185,837.53 in Q1 2020[86]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥4.58 billion, a decrease of 1.17% from the end of the previous year[11]. - The company reported a decrease in cash and cash equivalents by 11.04% to approximately ¥446.98 million, mainly due to increased procurement payments[20]. - The company’s total liabilities decreased by 10.06% in accounts payable to CNY 586,946,777.96 from CNY 652,615,296.47[23]. - Current assets totaled RMB 2,472,880,768.04, a decrease of 3.25% from RMB 2,556,106,734.79 as of December 31, 2020[64]. - Total liabilities amounted to RMB 4,549,017,544.81, slightly up from RMB 4,537,054,504.82, indicating a marginal increase of 0.03%[69]. - The total assets decreased to RMB 4,575,532,073.56 from RMB 4,629,666,515.76, a decline of 1.17%[67]. - The company’s long-term borrowings increased to ¥54,483,500.20 in Q1 2021 from ¥52,530,493.27 in Q1 2020[75]. - Current liabilities totaled approximately $3.40 billion, with a slight increase of $84,477.76 from the previous period[98]. Cash Flow - The net cash flow from operating activities improved by 74.05%, amounting to a loss of approximately ¥58.64 million, due to increased sales collections and temporary cash management for clients[11]. - The cash flow from operating activities for Q1 2021 was -¥58,644,653.41, compared to -¥225,976,663.50 in Q1 2020, indicating a significant reduction in cash outflow[89]. - The company reported cash inflows from operating activities totaling ¥96,013,457.32, compared to ¥42,013,967.26 in Q1 2020, indicating a year-over-year increase of approximately 128.5%[91]. - The cash outflows related to operating activities were ¥12,039,679.42, significantly lower than ¥47,750,227.02 in the previous year, marking a decrease of about 74.8%[91]. - The cash flow from investing activities for Q1 2021 was -¥17,526,687.11, compared to ¥28,990,030.35 in Q1 2020[89]. - The cash flow from financing activities for Q1 2021 was ¥11,360,313.59, a decrease from ¥136,451,467.32 in Q1 2020[89]. Shareholder Information - The company had a total of 60,900 shareholders at the end of the reporting period, with the largest shareholder holding 41.15% of the shares[19]. - Zhongheng Huizhi is required to compensate for unfulfilled profit commitments, with a total of 176,751,344 shares to be compensated due to unmet performance forecasts from 2014 to 2016[48]. - The controlling shareholder, Zhongheng Huizhi, voluntarily extended the lock-up period for its shares multiple times, with the latest extension set to December 31, 2021, covering a total of 527,977,838 shares[47]. - The company is closely monitoring the high proportion of pledged and frozen shares held by the controlling shareholder and is actively pursuing the resolution of compensation share matters[50]. Research and Development - R&D expenses surged by 55.70% to CNY 16,440,266.16, compared to CNY 10,558,913.96, driven by increased investment in R&D projects[23]. - Research and development expenses for Q1 2021 were ¥16,440,266.16, compared to ¥10,558,913.96 in Q1 2020, reflecting a 55.8% increase[78]. Legal Matters - The company has initiated legal proceedings to confirm that certain shares held in a special account belong to registered shareholders, not to Zhongheng Huizhi[36]. - The company has initiated legal proceedings to confirm that the shares held in a special account for compensation do not belong to Zhongheng Huizhi, but to the registered shareholders of the company[51]. - The company reported that the special account containing 48,691,587 shares for compensation has been frozen due to legal issues involving Zhongheng Huizhi, delaying the compensation process[51].