Jinrui Mineral(SH:600714)2021-04-23 16:00Financial Performance - The company's operating revenue for Q1 2021 was CNY 51,932,484.37, representing a 76.21% increase compared to CNY 29,472,323.84 in the same period last year[6]. - The net profit attributable to shareholders for Q1 2021 was CNY 2,839,146.84, a significant recovery from a loss of CNY 2,943,141.43 in the previous year[6]. - The company's operating profit for Q1 2021 was 3,936,079.29 CNY, compared to a loss of 2,871,574.77 CNY in Q1 2020, indicating a significant improvement[25]. - The total comprehensive income for Q1 2021 was 2,839,146.84 CNY, compared to a loss of 2,943,141.43 CNY in Q1 2020, reflecting a positive shift in financial performance[25]. - The company reported a basic and diluted earnings per share of 0.01 CNY for Q1 2021, compared to a loss per share of 0.01 CNY in Q1 2020[25]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was CNY -5,843,608.09, compared to CNY -5,678,789.75 in the same period last year, indicating a slight deterioration[6]. - The company's cash and cash equivalents decreased by 92.94% to CNY 25,654,861.09 from CNY 363,496,171.19 due to investments in financial products[10]. - Cash received from operating activities totaled 213,269.86 RMB, down 10.2% from 237,589.95 RMB in the same period last year[31]. - The total cash and cash equivalents at the end of Q1 2021 were 9,539,431.43 RMB, a significant increase from 2,378,821.85 RMB at the end of Q1 2020[32]. - The net increase in cash and cash equivalents for the quarter was -333,423,381.99 RMB, compared to -242,238,306.42 RMB in the same quarter last year, indicating a worsening cash position[32]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 686,329,493.61, a decrease of 0.15% from CNY 687,391,535.64 at the end of the previous year[6]. - Total liabilities as of March 31, 2021, were CNY 27,542,065.49, down from CNY 29,512,280.93 at the end of 2020[22]. - The company's retained earnings showed a loss of CNY 32,544,814.35 as of March 31, 2021, compared to a loss of CNY 31,616,338.73 at the end of 2020[22]. Shareholder Information - The total number of shareholders at the end of the reporting period was 21,271[9]. - The largest shareholder, Qinghai Investment Group Co., Ltd., held 42.50% of the shares, with 122,467,041 shares frozen[9]. Government Subsidies and Investments - The company received government subsidies amounting to CNY 98,885.98 during the reporting period, which positively impacted the financial results[6]. - The company received CNY 1,960,000 in government subsidies for its digital workshop initiative, enhancing its financial position[12]. - The company reported a significant increase in investment income of CNY 1,381,479.45, primarily from financial product returns[11]. Operational Efficiency and Future Outlook - The company expects a substantial increase in cumulative net profit for the year compared to the previous year due to rising product demand and sales prices[13]. - The company plans to continue focusing on cost management and operational efficiency to improve profitability in the upcoming quarters[24]. - The company plans to continue expanding its digital capabilities and investing in technology upgrades to support future growth[12]. Cost and Expense Management - The company's gross profit margin improved, with operating costs rising by 69.52% to CNY 41,680,147.39, reflecting increased sales volume[10]. - Research and development expenses decreased by 38.69% to CNY 1,221,199.82, as some projects were not implemented during the period[10]. - The company incurred management expenses of 2,483,923.85 CNY in Q1 2021, an increase from 2,269,764.85 CNY in Q1 2020[26].