LBC(SH:600727)2021-04-29 16:00Financial Performance - Operating revenue rose by 38.73% to CNY 927,600,364.63 year-on-year[5] - Net profit attributable to shareholders increased by 396.63% to CNY 105,348,571.50 compared to the same period last year[5] - Basic and diluted earnings per share increased by 53.85% to CNY 0.20 per share[5] - Cash flow from operating activities increased by 22.47% to CNY 103,688,219.00 compared to the previous year[5] - The weighted average return on equity increased by 2.00 percentage points to 3.97%[5] - The company anticipates a significant increase in cumulative net profit for the year compared to the previous year, driven by enhanced production capacity and rising market prices for certain products[13] - The net profit for Q1 2021 reached CNY 124.80 million, representing an increase of 90.25% compared to CNY 65.61 million in Q1 2020[23] - The total profit for Q1 2021 was CNY 156.32 million, compared to CNY 79.05 million in Q1 2020, marking an increase of 97.96%[22] Assets and Liabilities - Total assets increased by 5.03% to CNY 4,796,804,296.87 compared to the end of the previous year[5] - The total assets of the company as of March 31, 2021, were RMB 4.8 billion, compared to RMB 4.6 billion at the end of 2020, indicating growth in asset base[16] - Total assets amounted to CNY 4,566,915,919.92, with non-current assets totaling CNY 2,276,170,829.23[34] - Current liabilities reached CNY 1,496,015,093.09, while total liabilities were CNY 1,686,962,645.44[35] - The company reported a total of CNY 100,000,000.00 in long-term borrowings[35] - Total non-current liabilities were approximately 155.59 million, with long-term borrowings at 100 million[40] Shareholder Information - The total number of shareholders reached 32,522 at the end of the reporting period[9] - The largest shareholder, Shandong Lubei Enterprise Group Co., Ltd., holds 34.24% of the shares[9] Research and Development - Research and development expenses increased by 81.03% to RMB 14.5 million, reflecting a rise in investment in new product development[12] - Research and development expenses increased to ¥14.5 million in Q1 2021, compared to ¥8.0 million in Q1 2020, reflecting an 81.9% rise[21] - Research and development expenses for Q1 2021 amounted to CNY 1.22 million, up from CNY 0.99 million in Q1 2020, indicating a focus on innovation[24] Cash Flow - The cash flow from operating activities in Q1 2021 was CNY 692.66 million, a significant increase from CNY 562.86 million in Q1 2020[26] - The total cash inflow from operating activities was ¥745,182,306.28, compared to ¥577,299,380.53 in the previous year, showing an increase of approximately 29.1%[27] - The total cash outflow from operating activities was ¥641,494,087.28, which is an increase from ¥492,635,279.46 in Q1 2020, representing a rise of about 30.2%[27] - The cash flow from financing activities resulted in a net outflow of ¥32,689,197.99, compared to a net outflow of ¥61,141,340.00 in Q1 2020, indicating an improvement of approximately 46.5%[28] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 1,191,114.63, including government subsidies of CNY 200,000.00[6] - The company’s income tax expense surged by 134.57% to RMB 31.5 million, attributed to an increase in corporate income tax[12] - The company experienced a credit impairment loss of CNY 33.24 million in Q1 2021, compared to CNY 20.86 million in Q1 2020[25] Capital Structure - The company maintained a stable capital structure with total equity remaining above ¥2.69 billion throughout the reporting period[21] - Shareholders' equity totaled CNY 2,879,953,274.48, with equity attributable to the parent company at CNY 2,683,721,599.86[36] - The capital reserve stood at approximately 1.77 billion, with retained earnings of approximately 185.29 million[40] Leasing and Asset Recognition - The company recognized a right-of-use asset and lease liability of CNY 113,241,260.17 due to the new leasing standards effective January 1, 2021[36] - The implementation of the new leasing standard has resulted in adjustments to the financial statements, reflecting the recognition of lease liabilities and right-of-use assets[41]