HHI(SH:601226)2021-04-22 16:00Financial Performance - Operating revenue increased by 50.72% to CNY 1,293,447,167.94 compared to the same period last year[11] - Net profit attributable to shareholders was a loss of CNY 14,047,074.40, an improvement of 79.18% compared to the previous year's loss[11] - The company achieved operating revenue of CNY 1,293,447,167.94, a year-on-year increase of 50.72% due to the low base effect from the previous year's pandemic impact[21] - The net profit attributable to shareholders of the parent company was CNY -14,047,074.40, representing a 79.18% improvement compared to the previous year's loss[21] - The company reported a net profit margin of approximately 0.0% for Q1 2021, as total operating costs exceeded total operating revenue[36] - The net loss for Q1 2021 was approximately ¥22.12 million, compared to a net loss of ¥45.66 million in Q1 2020, indicating an improvement of 51.6%[43] - The total profit for Q1 2021 was approximately -¥20.87 million, compared to -¥45.29 million in Q1 2020, showing a significant reduction in losses[43] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 353.31% to a negative CNY 687,943,739.22 compared to the same period last year[11] - Cash received from tax refunds decreased by 92.91% to CNY 1,129,803.48, attributed to a reduction in export tax rebates[21] - Cash flow from operating activities for Q1 2021 was -452,370,047.58 RMB, compared to -7,183,072.35 RMB in Q1 2020, indicating a significant decline[45] - Net cash flow from financing activities improved to 14,992,139.62 RMB in Q1 2021, compared to a negative cash flow of -29,091,124.70 RMB in Q1 2020[45] - The company received 80,000,000.00 RMB in cash from borrowings in Q1 2021, significantly higher than the 20,000,000.00 RMB received in Q1 2020[45] Assets and Liabilities - Total assets decreased by 2.47% to CNY 8,564,019,485.96 compared to the end of the previous year[11] - Current assets totaled CNY 6,621,652,308.48 as of March 31, 2021, a decrease of 3.8% from CNY 6,883,828,114.03 at the end of 2020[31] - Total liabilities decreased to CNY 4,848,216,925.27 from CNY 5,052,033,119.73, a reduction of 4.0%[33] - The equity attributable to shareholders was CNY 3,684,929,713.67, slightly down from CNY 3,698,307,887.96[33] - Total liabilities reached approximately $3.50 billion, with current liabilities at $3.48 billion and non-current liabilities at $19.22 million[54] Shareholder Information - The number of shareholders at the end of the reporting period was 35,263[14] - The largest shareholder, China Huadian Corporation, holds 63.13% of the shares[14] Research and Development - Research and development expenses increased by 30.66% to CNY 30,888,391.33, reflecting higher personnel costs related to R&D[21] - Research and development expenses for Q1 2021 were approximately ¥14.46 million, slightly up from ¥13.96 million in Q1 2020[43] Investment and Growth - The company plans to acquire 100% equity of Huadian Zhengzhou Mechanical Design Institute for CNY 414.86 million to enhance its technical capabilities and market competitiveness[24] - The company is actively developing emerging businesses such as offshore wind power and hydrogen energy to align with national energy development trends[27] Financial Ratios and Metrics - The weighted average return on equity improved by 1.5 percentage points to -0.38%[11] - The company reported accounts receivable financing of approximately $330.09 million and prepayments of approximately $200.53 million[54]