SPC(SH:600688)2021-04-28 16:00Financial Performance - Operating revenue increased by 13.68% to CNY 20,379,079,000 year-on-year[4] - Net profit attributable to shareholders was CNY 1,173,484,000, a significant increase of 197.60% compared to a loss of CNY 1,202,367,000 in the same period last year[4] - Basic earnings per share rose to CNY 0.108, a 197.30% increase from a loss of CNY 0.111 per share in the same period last year[4] - Operating profit reached RMB 1,504,446 thousand, a significant improvement from a loss of RMB 1,629,144 thousand in the same period last year, driven by increased market demand and rising product prices in the petrochemical sector[10] - Net profit for Q1 2021 reached 1,175,274 thousand RMB, compared to a net loss of 1,201,386 thousand RMB in the same period last year[18] - Total comprehensive income for Q1 2021 was 1,177,086 thousand RMB, compared to a loss of 1,296,643 thousand RMB in Q1 2020[18] Cash Flow and Liquidity - Net cash flow from operating activities improved by 91.69%, reaching CNY -322,532,000, compared to CNY -3,880,619,000 in the previous year[4] - Cash and cash equivalents were reported at RMB 2,445,906 thousand, down from RMB 7,920,852 thousand, indicating a significant liquidity contraction[13] - Cash flow from operating activities showed a net outflow of 322,532 thousand RMB, an improvement from a net outflow of 3,880,619 thousand RMB in Q1 2020[21] - The net cash flow from operating activities for Q1 2021 was -79,233 thousand RMB, an improvement from -3,535,136 thousand RMB in Q1 2020[22] - The ending cash and cash equivalents balance was 721,530 thousand RMB, down from 3,220,539 thousand RMB in Q1 2020[22] Assets and Liabilities - Total assets decreased by 2.96% to CNY 43,426,055,000 compared to the end of the previous year[4] - Total current assets decreased to RMB 15,923,801 thousand from RMB 17,304,843 thousand, primarily due to a reduction in cash and cash equivalents[13] - Total liabilities decreased to RMB 12,873,813 thousand from RMB 15,394,155 thousand, reflecting improved financial health[14] - Shareholders' equity increased to RMB 30,552,242 thousand from RMB 29,355,018 thousand, indicating growth in the company's net worth[14] Accounts Receivable and Inventory - Accounts receivable increased by 86.58% to CNY 2,137,277,000 due to higher product sales[9] - Inventory increased by 28.39% to CNY 4,992,585,000, influenced by rising international oil prices[9] - Accounts receivable increased to RMB 2,137,277 thousand from RMB 1,145,504 thousand, reflecting higher sales volume[13] - Inventory rose to RMB 4,992,585 thousand from RMB 3,888,746 thousand, suggesting increased stock levels in anticipation of future demand[13] Investment and Subsidies - Investment income increased to RMB 254,544 thousand, up 226.41% from RMB 77,983 thousand in the previous year, due to improved operating conditions of joint ventures[10] - The company received government subsidies amounting to CNY 8,384,000 during the reporting period[5] Shareholder Information - The total number of shareholders at the end of the reporting period was 90,971[6]