SDBH(SH:600966)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders increased by 337.24% to CNY 810,537,745.47 compared to the same period last year[7]. - Operating revenue rose by 55.49% to CNY 4,052,719,389.19 year-on-year[7]. - Basic earnings per share increased by 337.13% to CNY 0.6063 compared to the same period last year[7]. - The company reported an operating profit of ¥1,082,663,408.04 for Q1 2021, compared to ¥247,565,224.63 in Q1 2020, indicating a substantial growth in profitability[29]. - The net profit for Q1 2021 was CNY 156,831,123.77, compared to CNY 7,090,455.82 in Q1 2020, indicating a significant increase[32]. - The company's total profit for Q1 2021 was CNY 207,305,577.27, compared to CNY 13,741,701.77 in Q1 2020[31]. Cash Flow and Liquidity - Net cash flow from operating activities surged by 284.91% to CNY 1,878,606,345.64 compared to the previous year[7]. - Cash inflow from financing activities in Q1 2021 was CNY 2,024,900,289.44, compared to CNY 2,872,132,311.99 in Q1 2020, showing a decline of about 29.6%[38]. - The total cash inflow from operating activities in Q1 2021 was CNY 2,036,551,171.83, while cash outflow was CNY 1,519,562,082.63, resulting in a net cash flow of CNY 516,989,089.20[37]. - Cash and cash equivalents rose to ¥1,717,657,630.14 in Q1 2021, up from ¥1,172,896,957.31 at the end of 2020, marking a 46.5% increase[23]. - The company reported a net increase in cash and cash equivalents of -CNY 63,686,906.09 for Q1 2021, compared to -CNY 41,268,509.40 in Q1 2020, reflecting a worsening cash position[38]. Assets and Liabilities - Total assets increased by 7.64% to CNY 20,939,181,863.52 compared to the end of the previous year[7]. - The company's total liabilities increased to ¥9,296,587,339.37 in Q1 2021, compared to ¥8,313,743,494.86 in Q1 2020, representing a growth of 11.8%[25]. - Total liabilities reached CNY 13,366,081,174.58, with current liabilities at CNY 10,543,387,890.80 and non-current liabilities at CNY 2,822,693,283.78[43]. - The company’s equity attributable to shareholders reached ¥6,896,734,433.41 as of March 31, 2021, up from ¥6,086,600,362.85 at the end of 2020, indicating a growth of 13.3%[25]. - Total assets amounted to approximately $11.68 billion, with current assets at $2.92 billion and non-current assets at $8.76 billion[47]. Research and Development - R&D expenses surged to ¥82,018,351.51 in Q1 2021, reflecting a significant increase of 9792.95% from ¥829,058.76 in Q1 2020, indicating a strong commitment to innovation[13]. - Research and development expenses for Q1 2021 were CNY 34,754,644.26, significantly higher than CNY 829,058.76 in Q1 2020, indicating increased investment in innovation[31]. Shareholder Information - The total number of shareholders reached 46,565 by the end of the reporting period[10]. - The largest shareholder, Shandong Bohui Group Co., Ltd., holds 28.84% of the shares, with 385,496,958 shares pledged[10]. Financial Management - The company's financial expenses decreased by 74.39% to ¥34,005,145.42 in Q1 2021, down from ¥132,771,621.82 in Q1 2020, mainly due to reduced loans and increased foreign exchange gains[13]. - The company incurred interest expenses of CNY 38,359,084.18 in Q1 2021, down from CNY 49,826,960.98 in Q1 2020, reflecting improved financial management[31]. Inventory and Contract Liabilities - The inventory level rose to ¥2,313,987,861.33 as of March 31, 2021, reflecting a 53.87% increase from ¥1,503,812,834.23 at the end of 2020, driven by higher raw material purchases[14]. - Contract liabilities surged by 240.25% to ¥1,193,402,983.09 as of March 31, 2021, compared to ¥350,744,933.52 at the end of 2020, indicating strong sales growth and increased advance payments[14].