SCGS(SH:600678)2021-04-29 16:00Financial Performance - Operating revenue surged by 89.21% to ¥75,245,222.66 year-on-year[7] - Net profit attributable to shareholders increased by 501.32% to ¥13,454,631.14 compared to the same period last year[7] - Basic and diluted earnings per share rose by 831.75% to ¥0.0587[8] - The company reported a net non-operating income of ¥7,039,633.80, compared to a loss of ¥28,405.43 in the previous year[11] - In Q1 2021, the company achieved a net profit of 206.22 million, an increase of 816.50% compared to the same period last year[18] - Revenue from sales of goods and services reached 58.14 million, representing an increase of 80.93% year-on-year[19] - The company reported a net loss of CNY 594,381,437.34 for Q1 2021, slightly improved from a loss of CNY 597,918,268.02 in Q1 2020[39] - The total comprehensive income for Q1 2021 was CNY 20,621,951.48, compared to CNY 2,250,066.31 in Q1 2020[45] Cash Flow and Liquidity - Cash flow from operating activities improved significantly, reaching ¥14,225,254.19, compared to a loss of ¥12,000,931.37 in the previous year[7] - Cash received from operating activities increased by 234.33% to 11.68 million, driven by government subsidies[19] - The cash inflow from operating activities in Q1 2021 was CNY 72,260,854.18, compared to CNY 35,630,038.97 in Q1 2020[47] - The net cash flow from operating activities for Q1 2021 was ¥394,869.36, a significant improvement from a net outflow of ¥5,914,105.56 in Q1 2020[49] - Total cash and cash equivalents at the end of Q1 2021 amounted to ¥21,658,278.86, compared to ¥25,659,411.90 at the end of Q1 2020[49] Assets and Liabilities - Total assets increased by 6.15% to ¥524,742,240.41 compared to the end of the previous year[7] - The company’s total assets included a new recognition of right-of-use assets amounting to RMB 8,669,836.00, reflecting the adoption of new leasing standards[16] - The total liabilities decreased by 50.27% in advance receipts, from RMB 10,204,342.35 to RMB 5,074,481.60, due to refunds of uncontracted pre-sale raw ore payments[16] - The total liabilities as of March 31, 2021, amounted to CNY 337,560,342.41, an increase from CNY 331,101,713.75 at the end of 2020[35] - The company’s non-current assets totaled CNY 179,142,291.46 as of March 31, 2021, compared to CNY 173,476,983.16 at the end of 2020[38] Shareholder Information - The total number of shareholders reached 51,162 at the end of the reporting period[12] - The largest shareholder, Shenzhen Pusuzhichun Investment Co., Ltd., holds 20.50% of the shares, with 71,553,484 shares frozen[12] - The company’s major shareholder, Pusuzhichun, has 20.50% of its shares frozen by the Beijing Second Intermediate People's Court, totaling 71,553,484 shares[14] - The company is currently in litigation regarding 35,776,742 shares (10.25% of total shares) that are under provisional freezing by the Shenzhen Intermediate People's Court[14] Government Support and Subsidies - Government subsidies recognized in the current period amounted to ¥7,041,841.62[10] - The company received financial support from its controlling shareholder, with a total amount adjusted to RMB 150 million, and the outstanding loan balance as of the reporting period was RMB 17.43 million[24] Operational Efficiency - Cash and cash equivalents at the end of the period were RMB 35,918,429.84, reflecting a 27.69% increase from RMB 28,129,692.35 at the beginning of the year, mainly due to an increase in advance payments received[16] - Accounts receivable decreased by 38.55%, from RMB 1,737,030.33 to RMB 1,067,490.09, as the subsidiary recovered prior receivables[16] - The company reported a decrease in financial expenses by 44.25%, primarily due to the repayment of loans from Hai Liang Metal[18] - The company recorded a significant increase in management expenses by 69.55%, mainly due to higher wages and hospitality costs[18] Future Outlook - The company anticipates a growth in cumulative net profit compared to the same period last year due to improved downstream industry conditions and increased production capacity[29]