XHCG(SH:600785)2021-04-21 16:00Financial Performance - Revenue for the period was CNY 1.67 billion, a 2.04% increase year-on-year[6] - Net profit attributable to shareholders decreased by 8.25% to CNY 50.52 million[6] - Basic earnings per share decreased by 8.33% to CNY 0.22[6] - Investment income fell by 69.05% to CNY 291,244.57, mainly due to a decrease in returns from financial products[17] - The company reported a net decrease in other income by 83.49% to CNY 1,649,683.08, mainly due to reduced government subsidies[17] - The company’s income tax expense increased by 58.88% to CNY 15,313,583.53, reflecting a rise in taxable income compared to the previous year[17] - Net profit for Q1 2021 was CNY 43,645,015.89, a decrease of 8.1% from CNY 47,608,653.98 in Q1 2020[27] - Earnings per share for Q1 2021 were CNY 0.22, down from CNY 0.24 in Q1 2020[27] - The company reported a total of CNY 3,124,454.96 in non-operating income for Q1 2021, compared to CNY 2,768,993.96 in Q1 2020, reflecting an increase of 12.9%[27] Assets and Liabilities - Total assets increased by 38.21% to CNY 8.61 billion compared to the end of the previous year[6] - Total liabilities rose to CNY 6.77 billion from CNY 4.00 billion, indicating an increase of around 69.2%[22] - The company's total equity decreased to CNY 1.84 billion from CNY 2.22 billion, a decline of about 17.1%[22] - Total current assets decreased to CNY 2.12 billion from CNY 2.26 billion, a decline of about 6.0%[21] - Total liabilities related to leases increased by 100% to CNY 2,772,186,831.18, reflecting the impact of new leasing standards[17] - The total assets increased from $6.23 billion at the end of 2020 to $8.71 billion at the beginning of 2021, reflecting a growth of approximately 39.8%[39] - The total liabilities rose from $3.78 billion to $3.92 billion, indicating an increase of about 3.0%[39] - Current liabilities totaled CNY 2,123,029,646.67, with short-term borrowings at CNY 602,490,681.65[44] Cash Flow - Operating cash flow net amount increased by 34.70% to CNY 423.49 million[6] - Operating cash flow increased by 34.70% to CNY 423,488,341.35, driven by higher revenue during the period[17] - The net cash outflow from financing activities decreased significantly by 922.04% to CNY -354,805,175.34, primarily due to repayment of bank loans[17] - The net cash flow from operating activities for Q1 2021 was $217.47 million, a significant increase from $57.94 million in Q1 2020, representing a growth of approximately 275%[36] - The net cash flow from financing activities was -$238.48 million, a decline from -$29.15 million in Q1 2020, indicating a worsening cash outflow situation[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,050[13] - The largest shareholder, Wumart Technology Group Co., Ltd., held 36.15% of shares[13] New Leasing Standards Impact - The implementation of the new leasing standard increased initial assets by CNY 2.48 billion and liabilities by CNY 2.91 billion[9] - The impact of the new leasing standard on the current period's profit was a decrease of CNY 22.47 million due to increased depreciation and interest expenses[9] - Long-term deferred expenses decreased by 32.32% to CNY 650,697,411.28, attributed to the implementation of new leasing standards[16] - Financial expenses surged by 144.35% to CNY 57,353,549.30, primarily due to interest expenses on lease liabilities recognized under new leasing standards[17] - The company adopted new leasing standards effective January 1, 2021, adjusting relevant asset and liability figures accordingly[44]