BGRIMMTEC(SH:600980)2021-04-21 16:00Financial Performance - Net profit attributable to shareholders rose by 47.29% to CNY 13,165,901.45 year-on-year[6] - Operating revenue increased by 21.67% to CNY 151,730,571.80 compared to the same period last year[6] - Basic earnings per share increased by 48.09% to CNY 0.0853[6] - Operating profit for Q1 2021 was ¥17,683,406.70, up 47.78% from ¥12,003,623.15 in Q1 2020[26] - Net profit for Q1 2021 amounted to ¥13,102,832.38, representing a 47.00% increase from ¥8,891,286.48 in Q1 2020[26] - The company's net profit guidance for the upcoming period indicates potential significant changes compared to the previous year, although specific figures were not disclosed[14] Assets and Liabilities - Total assets increased by 4.39% to CNY 948,600,481.67 compared to the end of the previous year[6] - The total assets increased from RMB 908,687,432.39 to RMB 948,600,481.67, reflecting a growth of 4.4%[18] - The total liabilities increased from RMB 232,962,877.95 to RMB 259,125,122.40, representing an increase of 11.3%[19] - Total assets as of March 31, 2021, were ¥707,495,569.65, down from ¥752,022,763.49 at the end of 2020[22] - Total liabilities decreased to ¥134,237,261.99 from ¥177,543,382.35 at the end of 2020, a reduction of 24.36%[23] - The total cash and cash equivalents at the end of Q1 2021 were CNY 129,295,964.81, down from CNY 171,195,183.69 at the beginning of the quarter[33] Cash Flow - Net cash flow from operating activities decreased by 35.49% to CNY 9,044,482.15 compared to the previous year[6] - Operating cash flow decreased by 35.49% from RMB 14,019,650.71 to RMB 9,044,482.15 due to increased cash expenditures for procurement and labor costs[12] - The net cash flow from operating activities for Q1 2021 was CNY 2,524,566.93, compared to a negative cash flow of CNY 2,308,856.07 in Q1 2020, indicating a significant improvement[33] - Cash inflow from financing activities amounted to CNY 15,428,214.19, with cash outflow totaling CNY 61,200,000.00, leading to a net cash flow from financing activities of -CNY 45,771,785.81[33] Shareholder Information - The total number of shareholders reached 30,096 at the end of the reporting period[10] - The largest shareholder, Minmetals Technology Group Co., Ltd., holds 39.50% of the shares[10] Research and Development - Research and development expenses increased by 107.8% from RMB 2,973,287.97 to RMB 6,178,463.47, reflecting increased investment in R&D[12] - Research and development expenses increased to ¥6,178,463.47 in Q1 2021, compared to ¥2,973,287.97 in Q1 2020, reflecting a growth of 107.36%[26] Other Financial Metrics - The weighted average return on equity increased by 0.53 percentage points to 1.95%[6] - Non-recurring gains and losses amounted to CNY 703,880.99, primarily from government subsidies[8] - Other income decreased by 52.80% from RMB 1,543,355.51 to RMB 728,528.16 due to a reduction in government subsidies received[12] - Credit impairment losses increased by 40.42% from RMB 1,369,663.82 to RMB 1,923,313.29, indicating an increase in impairment provisions for accounts receivable[12] Compliance and Regulatory - The company received approval from the China Securities Regulatory Commission for a non-public offering of A-shares on March 9, 2021[13] - The company implemented the revised accounting standards for leases starting January 1, 2021, affecting the financial statements accordingly[34] - The company has implemented the revised lease accounting standards effective from January 1, 2021, impacting financial statement adjustments[42]