Cofco Sugar(SH:600737)2021-04-26 16:00Financial Performance - Operating revenue rose by 50.70% to CNY 4,226,698,478.95 year-on-year[4] - Net profit attributable to shareholders increased by 51.39% to CNY 201,111,754.48 compared to the same period last year[4] - Basic earnings per share increased by 51.37% to CNY 0.0940 per share[4] - The company's operating revenue for Q1 2021 was ¥422,669.85 million, a 50.70% increase from ¥280,472.50 million in Q1 2020, driven by increased sales volume of sugar[10] - The net profit attributable to shareholders for Q1 2021 was ¥20,111.18 million, up 51.39% from ¥13,284.28 million in Q1 2020, mainly due to increased sugar sales offsetting the adverse impact of falling sugar prices[10] - Total operating revenue for Q1 2021 reached ¥4,226,698,478.95, a 50.7% increase from ¥2,804,725,011.96 in Q1 2020[21] - Net profit for Q1 2021 was ¥221,683,870.99, compared to ¥139,048,640.73 in Q1 2020, representing a 59.5% increase[22] - The total profit for Q1 2021 was ¥285,136,662.10, compared to ¥155,577,282.15 in Q1 2020, marking an increase of 83.4%[22] Assets and Liabilities - Total assets increased by 10.31% to CNY 19,333,008,377.89 compared to the end of the previous year[4] - The company's total liabilities decreased by 48.72% in accounts payable to ¥108,952.96 million from ¥212,481.69 million, primarily due to reduced sugar procurement payments[9] - Total liabilities reached ¥9,764,928,073.92, up from ¥8,350,837,204.81, marking a growth of around 16.9%[16] - Current liabilities rose to ¥8,291,214,908.12 from ¥6,954,466,306.17, reflecting an increase of approximately 19.2%[15] - The total assets as of Q1 2021 were 17,657,607,814.79 RMB, an increase from 17,526,531,622.04 RMB at the end of 2020[32] - Total liabilities increased to 6,982,087,241.86 RMB in Q1 2021 from 6,954,466,306.17 RMB at the end of 2020[32] Cash Flow - Net cash flow from operating activities decreased by 434.83% to -CNY 1,987,598,867.28 compared to the previous year[4] - The net cash flow from operating activities for Q1 2021 was negative at -¥198,759.89 million, a decrease of 434.83% compared to ¥59,361.89 million in Q1 2020, primarily due to increased procurement expenses for sugar[11] - Cash flow from operating activities showed a net outflow of -1,987,598,867.28 RMB in Q1 2021, compared to a net inflow of 593,618,898.01 RMB in Q1 2020[26] - The company reported a total cash outflow from operating activities of 2,862,154,793.26 RMB in Q1 2021, compared to 599,150,268.35 RMB in Q1 2020[29] Shareholder Information - The number of shareholders at the end of the reporting period was 124,616[6] - The largest shareholder, COFCO Group, holds 50.73% of the shares[6] Research and Development - Research and development expenses in Q1 2021 increased by 179.66% to ¥406.15 million compared to ¥145.23 million in Q1 2020, indicating a higher direct investment in R&D[10] - Research and development expenses increased to ¥4,061,472.79 in Q1 2021 from ¥1,452,291.49 in Q1 2020, a significant rise of 179.5%[21] Other Financial Metrics - The weighted average return on equity increased by 0.48 percentage points to 2.12%[4] - The company reported a significant increase in non-recurring gains and losses amounting to CNY 38,507,654.03[5] - Other comprehensive income after tax for Q1 2021 was ¥170,702,015.75, compared to a loss of ¥287,060,111.05 in Q1 2020[22] - The company reported an investment income of ¥43,453,471.81 in Q1 2021, a recovery from a loss of ¥16,740,314.85 in Q1 2020[21]