Jiaze Renewables(SH:601619)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders increased by 106.33% to CNY 99,534,080.57 year-on-year[17]. - Operating revenue rose by 28.68% to CNY 316,815,522.24 compared to the same period last year[17]. - Basic earnings per share increased by 106.01% to CNY 0.0480 compared to the same period last year[17]. - Operating profit for Q1 2021 reached CNY 110,773,193.01, compared to CNY 54,469,435.11 in Q1 2020, representing a growth of 102.5%[57]. - Net profit for Q1 2021 was CNY 99,531,014.82, significantly higher than CNY 48,239,964.98 in Q1 2020, marking an increase of 106.5%[57]. - The net profit for Q1 2021 reached ¥33,473,007.04, representing a 90.4% increase from ¥17,569,322.41 in Q1 2020[61]. Cash Flow - Net cash flow from operating activities increased by 47.52% to CNY 73,668,083.61 year-on-year[17]. - The net cash flow from operating activities for Q1 2021 was ¥73,668,083.61, compared to ¥49,938,693.83 in Q1 2020, reflecting a 47.5% increase[64]. - The net cash flow from operating activities for Q1 2021 was ¥11,616,583.48, a significant increase from ¥1,615,869.49 in Q1 2020, representing a growth of approximately 619%[66]. - Cash flow from financing activities showed a drastic decline of 1,965.09% to -¥160,032,882.62, primarily due to the absence of bank loans compared to the previous period[30]. - The cash inflow from financing activities was ¥43,835,300.00 in Q1 2021, down from ¥314,550,000.00 in Q1 2020[64]. - The company's cash flow from financing activities showed a net outflow of -¥113,235,549.73 in Q1 2021, compared to -¥64,549,727.11 in Q1 2020, highlighting increased financing costs[68]. Assets and Liabilities - Total assets increased by 0.42% to CNY 12,279,656,286.72 compared to the end of the previous year[17]. - Total liabilities decreased to $8.47 billion from $8.56 billion, a decline of about 1.1%[46]. - Current liabilities amounted to $1.46 billion, slightly up from $1.45 billion, indicating a 1.0% increase[46]. - The company reported a significant decrease in cash and receivables, with cash down by 49.60%[28]. - The total liabilities included accounts payable of ¥798,682,012.80 and other payables of ¥4,255,296.14, indicating a focus on managing short-term obligations[71]. - The company reported a decrease in employee compensation payable from $8.51 million to $1.07 million, a significant drop of approximately 87.4%[46]. Shareholder Information - The number of shareholders at the end of the reporting period was 62,474[24]. - The top shareholder, Jinyuan Rongtai Investment Management (Ningxia) Co., Ltd., holds 28.04% of shares[24]. - Total equity attributable to shareholders rose to $3.81 billion from $3.66 billion, an increase of about 4.0%[46]. Expenses - Management expenses surged by 253.30% to ¥16,472,546.72, attributed to the recognition of the fair value of restricted stock during the waiting period[30]. - The company reported a significant increase in income tax expenses by 148.12% to ¥11,242,178.19, reflecting the rise in profits[30]. - The total financial expenses for Q1 2021 were ¥24,905,920.17, an increase from ¥20,713,512.41 in Q1 2020[59]. Investments and Subsidiaries - Investment income skyrocketed by 3,012.34% to ¥10,027,755.09, resulting from long-term equity investment in Ningbo Fund accounted for using the equity method[30]. - The company established several new subsidiaries, including Guangxi Jiazhe New Energy Co., Ltd. with a 56% stake and Xinjiang Zekai New Energy Co., Ltd. as a wholly-owned subsidiary[34]. - As of March 31, 2021, a total of ¥48,578,000 of convertible bonds had been converted into 13,607,139 shares of the company's stock at an initial conversion price of ¥3.57 per share[35].