CETC Chips(SH:600877)2021-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 56,810,883.42, an increase of 38.84% year-on-year [14]. - Net profit attributable to shareholders was CNY 2,271,835.11, a decrease of 66.22% compared to the same period last year [14]. - The company's operating revenue for the current period reached 56,810,883.42, representing a 38.84% increase compared to 40,919,141.32 in the same period last year [20]. - The company reported a net loss of ¥-1,967,402,173.13 for Q1 2021, slightly worsening from ¥-1,964,280,550.25 in Q1 2020 [47]. - The total profit for Q1 2021 was CNY 4,810,405.01, down 43.5% from CNY 8,493,854.88 in the same period last year [49]. - The company's operating profit for Q1 2021 was CNY 4,804,059.71, a decline of 29.6% from CNY 6,838,745.79 in Q1 2020 [49]. - The basic and diluted earnings per share for Q1 2021 were both CNY 0.0028, compared to CNY 0.0082 in Q1 2020 [49]. Cash Flow - Net cash flow from operating activities was CNY -69,025,527.44, a decline of 45.83% year-on-year [11]. - Cash inflow from operating activities in Q1 2021 was CNY 71,485,800.43, significantly higher than CNY 29,677,893.15 in Q1 2020 [54]. - The cash outflow from operating activities in Q1 2021 totaled CNY 140,511,327.87, compared to CNY 77,011,757.37 in Q1 2020 [54]. - The net cash flow from operating activities for Q1 2021 was -20,598,653.31 RMB, compared to -511,668.30 RMB in Q1 2020, indicating a significant increase in cash outflow [60]. - Cash inflow from financing activities amounted to 25,000,000.00 RMB in Q1 2021, with a net cash flow of 24,938,506.94 RMB after accounting for cash outflows [60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 647,063,068.87, a decrease of 2.95% compared to the end of the previous year [11]. - The company's total assets as of March 31, 2021, were ¥785,132,834.78, slightly up from ¥781,993,470.52 at the end of 2020 [45]. - Total liabilities as of March 31, 2021, were ¥26,037,597.85, compared to ¥20,625,667.31 at the end of 2020, representing a 26.5% increase [45]. - The company's total current liabilities decreased to ¥208,817,042.93 from ¥241,523,822.00, indicating a reduction in short-term financial obligations [37]. - The company's total monetary funds decreased by 31.39%, ending at 115,389,978.10, primarily due to increased cash payments for materials and previous restructuring service fees [20]. Expenses - Operating costs increased by 71.76%, amounting to 35,741,101.82, up from 20,808,819.77 in the previous year, primarily due to increased orders and changes in product structure [23]. - The company's management expenses rose by 70.63% to 8,299,265.11, attributed to the removal of social security reduction policies and increased audit fees [23]. - Research and development expenses in Q1 2021 amounted to ¥7,860,325.14, compared to ¥6,470,377.84 in Q1 2020, indicating a 21.5% increase [47]. Shareholder Information - The total number of shareholders at the end of the reporting period was 157,569.95 shares [16]. - The company's equity attributable to shareholders was ¥759,095,236.93, down from ¥761,367,803.21 at the end of 2020 [47]. Asset Restructuring - The company is in the process of a major asset restructuring involving the acquisition of 100% equity in several semiconductor-related companies [9]. - As of the end of the reporting period, the restructuring has not been completed, and the consolidation scope remains limited to the original special lithium-ion battery business [10]. - The company completed the transfer of 45.39% equity in Southwest Design, 51% equity in Chip Yida, and 49% equity in Ruijing Industrial as part of its major asset restructuring [31]. Other Financial Metrics - The weighted average return on net assets was 0.56%, down by 1.50 percentage points from the previous year [14]. - The company reported a government subsidy of CNY 211,738.30 included in the current period's profit [14]. - The company reported a significant increase in cash outflow for employee payments, totaling 4,177,400.07 RMB in Q1 2021 compared to 398,076.79 RMB in Q1 2020 [60].