Greencity Water(SH:601368)2021-04-27 16:00Financial Performance - Operating revenue rose by 19.76% to CNY 370,417,219.55 year-on-year[5] - Net profit attributable to shareholders decreased slightly by 0.05% to CNY 48,028,099.64 compared to the same period last year[5] - The company reported basic earnings per share of CNY 0.0544, unchanged from the previous year[5] - Total operating revenue for Q1 2021 was CNY 370,417,219.55, an increase of 19.7% compared to CNY 309,287,348.28 in Q1 2020[24] - Net profit attributable to shareholders for Q1 2021 was CNY 52,676,042.39, representing a growth of 12.5% compared to CNY 46,816,000.00 in Q1 2020[24] - The net profit for Q1 2021 was CNY 48,028,099.64, slightly down from CNY 48,051,987.77 in Q1 2020, representing a decrease of 0.05%[26] - The total profit for Q1 2021 was CNY 57,385,758.68, compared to CNY 56,695,573.41 in Q1 2020, marking an increase of 1.22%[25] Assets and Liabilities - Total assets increased by 2.51% to CNY 15,507,080,141.41 compared to the end of the previous year[5] - Total assets as of March 31, 2021, amounted to CNY 15,390,455,174.98, an increase from CNY 15,012,765,353.44 at the end of 2020[20] - Total liabilities as of March 31, 2021, were CNY 11,094,275,829.72, compared to CNY 10,762,692,345.41 at the end of 2020[18] - Shareholders' equity as of March 31, 2021, was CNY 4,412,804,311.69, up from CNY 4,364,776,212.05 at the end of 2020[18] - Total liabilities amounted to CNY 10,554,577,711.98, with current liabilities at CNY 3,190,521,069.16 and non-current liabilities at CNY 7,364,056,642.82[43] Cash Flow - Net cash flow from operating activities increased by 1.96% to CNY 126,865,237.66 year-to-date[5] - The net cash flow from operating activities for Q1 2021 was CNY 126.87 million, slightly up from CNY 124.43 million in Q1 2020, indicating a growth of 1.9%[31] - The cash inflow from sales of goods and services was CNY 388.67 million, up from CNY 309.10 million in Q1 2020, representing a growth of 25.7%[31] - The company reported a net cash outflow of CNY 282.92 million in Q1 2021, compared to a net outflow of CNY 172.99 million in Q1 2020, indicating a worsening cash position[32] Expenses - Operating costs increased by 38.25% to CNY 235,877,302.93 compared to CNY 170,617,435.68 in the same period last year, primarily due to higher depreciation, electricity, sludge disposal, water resource fees, and maintenance costs[13] - Sales expenses rose by 41.45% to CNY 11,278,619.00 from CNY 7,973,610.50 year-on-year, mainly due to increased costs for meter replacement and repairs[13] - Financial expenses for Q1 2021 were CNY 46,216,839.10, down from CNY 61,002,721.85 in Q1 2020, indicating a reduction of 24.2%[27] - The company's interest expenses increased to CNY 63,767,505.89 in Q1 2021 from CNY 51,960,154.26 in Q1 2020, a rise of 22.8%[27] Shareholder Information - The total number of shareholders reached 33,381 by the end of the reporting period[10] - The largest shareholder, Nanning Jianning Water Investment Group, holds 51.00% of the shares[10] - The company plans to distribute a cash dividend of CNY 0.91 per share (including tax), totaling CNY 80,350,551.00 based on a total share capital of 882,973,077 shares as of December 31, 2020[13] - The company has maintained a stable dividend policy, with dividends payable remaining consistent at CNY 2,950,678.63[18] Research and Development - Research and development expenses were zero, a 100% decrease from CNY 4,680.19 in the previous year, indicating no R&D projects during the reporting period[13] - The company's research and development expenses were reported as CNY 4,680.19 in Q1 2020, indicating a focus on innovation despite the lack of reported R&D expenses in Q1 2021[27] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[24] - The company is focusing on government subsidies related to project construction support and other financial aids[9]