NCFC(SH:600889)2021-04-26 16:00Financial Performance - Operating revenue surged by 118.28% to CNY 138,821,882.73 compared to the same period last year[6] - Net profit attributable to shareholders reached CNY 117,337,920.58, a significant recovery from a loss of CNY 36,176,336.44 in the previous year[6] - Basic and diluted earnings per share were CNY 0.32, recovering from a loss of CNY -0.10 in the same period last year[6] - Total operating revenue for Q1 2021 was ¥138,821,882.73, a significant increase from ¥63,596,765.20 in Q1 2020, representing a growth of approximately 118%[26] - The net profit for Q1 2021 was not explicitly stated, but the increase in revenue and costs suggests a focus on growth despite rising expenses[26] - The total profit for Q1 2021 was CNY 3,305,575.32, a decline of 46% from CNY 6,162,267.04 in Q1 2020[28] - The total comprehensive income for Q1 2021 was CNY 344,243.87, significantly lower than CNY 7,597,237.38 in Q1 2020[29] Assets and Liabilities - Total assets increased by 2.75% to CNY 2,372,986,047.08 compared to the end of the previous year[6] - Total assets as of March 31, 2021, amounted to RMB 2.37 billion, an increase from RMB 2.31 billion at the end of 2020[20] - Total liabilities reached CNY 767,172,966.14, with current liabilities at CNY 622,394,381.04 and non-current liabilities at CNY 144,778,585.10[39] - Total current liabilities include CNY 98,495,907.95 in accounts payable and CNY 33,738,542.43 in notes payable[39] - The company has a total of CNY 10,804,783.54 in long-term borrowings, reflecting its financing strategy[39] Shareholder Information - Net assets attributable to shareholders rose by 8.29% to CNY 1,516,782,662.18 year-on-year[6] - The total number of shareholders reached 24,287 by the end of the reporting period[12] - The top shareholder, Nanjing New Industry Investment Group, holds 35.41% of the shares, totaling 129,709,768 shares[12] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -79,903,428.94, a decline of 769.38% compared to the previous year[6] - The company reported a cash inflow from operating activities of CNY 53,942,867.26 in Q1 2021, down 30% from CNY 77,267,921.20 in Q1 2020[31] - The total cash inflow from operating activities was 31,497,693.85 RMB, while cash outflow was 56,125,723.33 RMB, leading to a net cash flow of -24,628,029.48 RMB[34] - The cash flow from financing activities showed a net outflow of -1,239,469.75 RMB, compared to -1,400,000.00 RMB in the previous year[33] Research and Development - The company reported a significant increase in R&D expenses, which rose by 74.67% to RMB 2.12 million due to the acquisition of Shanghai Yueke Company[14] - Research and development expenses for Q1 2021 were ¥2,115,301.41, up from ¥1,211,001.33 in Q1 2020, indicating an increase of approximately 75%[26] - The company is focusing on expanding its market presence and enhancing product development, as indicated by the increase in R&D spending[26] Acquisitions and Investments - The company completed the acquisition of 51.91% of Shanghai Yueke New Materials Co., Ltd., with an initial payment of RMB 236.61 million[15] - Financial expenses surged by 308.46% to RMB 255,857.90, also linked to the acquisition of Shanghai Yueke Company[14] - The company disposed of part of its biological assets, resulting in a significant gain of RMB 130.36 million[14] Other Financial Metrics - The weighted average return on equity improved by 9.87 percentage points to 7.25%[6] - Cash and cash equivalents decreased by 64.97% to RMB 63.64 million from RMB 181.69 million at the beginning of the period, attributed to reduced bank deposits[13] - The company incurred a credit impairment loss of CNY 7,509.48 in Q1 2021[27] - The company reported a tax expense of CNY 826,393.83 for Q1 2021, compared to CNY 1,015,566.76 in Q1 2020[28] Changes in Accounting Standards - The company has adopted new leasing standards effective January 1, 2021, impacting financial statement disclosures[44] - The company confirmed the recognition of right-of-use assets and lease liabilities under the new leasing standards[43]