LIUSTEELCO(SH:601003)2021-04-27 16:00Financial Performance - Operating revenue rose by 64.77% to CNY 17,609,306,356.13 year-on-year[12] - Net profit attributable to shareholders increased by 303.62% to CNY 663,651,666.23 compared to the same period last year[12] - Basic earnings per share increased by 333.33% to CNY 0.26 compared to CNY 0.06 in the same period last year[12] - The company reported a net profit excluding non-recurring gains and losses of CNY 641,263,914.01, up 306.95% year-on-year[12] - Net profit for the reporting period was 867 million RMB, an increase of 703 million RMB or 427.56% year-on-year, driven by increased sales volume and higher market prices for steel products[26] - Total operating revenue for Q1 2021 reached ¥17.61 billion, a 64.8% increase from ¥10.69 billion in Q1 2020[48] - Net profit for Q1 2021 was ¥867.45 million, compared to ¥164.43 million in Q1 2020, representing a significant increase of 426.5%[49] Assets and Liabilities - Total assets increased by 10.63% to CNY 67,038,490,196.73 compared to the end of the previous year[12] - Current liabilities rose to ¥23,736,653,574.61, up from ¥19,337,789,971.71, indicating a growth of about 22.4%[36] - Non-current liabilities totaled ¥17,544,919,270.58, compared to ¥16,374,229,793.84, reflecting an increase of approximately 7.2%[38] - The company's total equity reached ¥25,756,917,351.54, compared to ¥24,882,770,562.62, indicating an increase of approximately 3.5%[38] - Total liabilities increased to ¥41,281,572,845.19 from ¥35,712,019,765.55, indicating a growth of about 15.5%[38] - The total assets as of the end of Q1 2021 were 60,594,790,328.17 RMB, slightly down from 60,680,145,066.65 RMB at the end of the previous year[64] Cash Flow - Net cash flow from operating activities reached CNY 11,137,392.66, a significant recovery from a negative cash flow of CNY -138,251,592.34 in the previous year[12] - Cash flow from operating activities for the reporting period was 11.14 million RMB, compared to -138 million RMB in the same period last year, primarily due to reduced cash inflow from the pandemic impact[26] - The company reported a total cash inflow from operating activities of 8,630,264,110.17 RMB in Q1 2021, compared to 6,788,736,097.19 RMB in Q1 2020, indicating growth in operational receipts[60] Shareholder Information - The total number of shareholders reached 42,616 by the end of the reporting period[21] - The largest shareholder, Guangxi Liuzhou Iron and Steel Group Co., Ltd., holds 74.57% of the shares[21] Research and Development - R&D expenses for the reporting period were 725 million RMB, an increase of 481 million RMB or 197.27% year-on-year, reflecting increased investment in new product innovation[26] - Research and development expenses in Q1 2021 amounted to ¥725.45 million, a substantial increase from ¥244.04 million in Q1 2020, reflecting a growth of 196.5%[48] Operational Costs - Operating costs for the reporting period were 15.447 billion RMB, an increase of 5.419 billion RMB or 54.03% year-on-year, mainly due to increased production and consumption costs[26] - Total operating costs for Q1 2021 were ¥16.67 billion, up 58.8% from ¥10.50 billion in Q1 2020[48] Financial Position - The company’s financial expenses in Q1 2021 were ¥167.80 million, significantly higher than ¥39.65 million in Q1 2020, indicating an increase of 322.5%[48] - The company’s total liabilities included short-term borrowings of 2,786,958,919.58 RMB as of the end of Q1 2021[64] Compliance and Standards - The company’s financial statements reflect compliance with updated accounting standards as of January 1, 2021[76] - The company adopted the new leasing standard effective January 1, 2021, recognizing right-of-use assets and lease liabilities of 85,354,738.48 CNY[76]