SNAT(SH:600841)2021-04-28 16:00Financial Performance - Operating revenue for the period was ¥1,911,097,978.53, representing a significant increase of 98.14% year-on-year[8]. - Net profit attributable to shareholders was ¥62,916,012.17, up 236.71% from the same period last year[8]. - The company reported a basic earnings per share of ¥0.073, a 236.71% increase compared to ¥0.022 in the same period last year[8]. - Operating profit for Q1 2021 was RMB 62,289,260.61, up from RMB 13,889,939.85 in Q1 2020, reflecting a growth of approximately 348.5%[35]. - Net profit for Q1 2021 was RMB 63,930,014.37, compared to RMB 14,088,463.63 in Q1 2020, showing an increase of around 353.5%[35]. - The total comprehensive income for Q1 2021 was ¥67,552,070.71, compared to ¥21,999,292.57 in Q1 2020, indicating strong overall performance[44]. Asset and Equity Growth - Total assets at the end of the reporting period reached ¥9,695,354,851.68, an increase of 5.61% compared to the end of the previous year[8]. - The company's total equity attributable to shareholders increased from approximately ¥3.982 billion to ¥4.041 billion, reflecting a growth of about 1.5%[27]. - Total equity as of March 31, 2021, reached RMB 4,072,160,726.61, up from RMB 4,004,608,655.90 at the end of 2020, reflecting a growth of about 1.7%[33]. Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of ¥247,456,439.09, compared to a net outflow of ¥168,220,993.70 in the previous year[8]. - The company's cash and cash equivalents decreased from approximately ¥3.035 billion at the end of 2020 to ¥2.767 billion by March 31, 2021, representing a decline of about 8.8%[24]. - Cash and cash equivalents decreased to RMB 2,680,176,661.05 from RMB 2,900,484,190.83 at the end of 2020, a decline of approximately 7.6%[30]. - The company reported a net cash outflow from operating activities of ¥247,456,439.09, compared to a net outflow of ¥168,220,993.70 in the previous year[48]. Sales and Market Performance - The number of diesel engines sold reached 52,158 units, reflecting a year-on-year growth of 125%[15]. - Sales expenses rose by 78.37% year-on-year, driven by increased sales volume and anticipated higher after-sales service costs[15]. - The company's operating revenue for Q1 2021 reached ¥1,888,820,038.97, a significant increase of 98.1% compared to ¥953,112,107.30 in Q1 2020[42]. Accounts Receivable and Inventory Management - Accounts receivable increased by 556.32% compared to the beginning of the year, primarily due to the company's credit policy and industry characteristics[15]. - Accounts receivable increased significantly from approximately ¥245.7 million to ¥1.612 billion, indicating a substantial rise of over 554%[24]. - Inventory levels were reported at approximately ¥679.85 million, suggesting effective inventory management[64]. Investment and Research - Investment income increased by 19.93% year-on-year, attributed to higher profits from associated enterprises[15]. - Research and development expenses increased to ¥61,267,726.00, compared to ¥57,477,223.31 in the previous year, reflecting a focus on innovation[42]. - The company has ongoing investments in fixed assets totaling approximately ¥835.97 million, indicating commitment to growth[64]. Regulatory and Strategic Initiatives - The company is undergoing a significant asset restructuring plan, which includes issuing shares and cash to acquire 50% of SAIC Iveco Commercial Vehicle Investment Co., Ltd. and 56.96% of SAIC Iveco Hongyan Commercial Vehicle Co., Ltd.[17]. - The company is still in the process of obtaining regulatory approval for the asset restructuring plan, which is expected to be implemented after approval[18]. - The company is actively pursuing market expansion and new technology development as part of its strategic initiatives[17].