WANXIN MEDIA(SH:601801)2021-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 2,272,301,173.49, a year-on-year increase of 29.38%[11] - Net profit attributable to shareholders increased by 20.95% to CNY 264,857,268.34 compared to the same period last year[11] - Basic earnings per share increased by 18.18% to CNY 0.13[11] - Total operating revenue for Q1 2021 was RMB 2,272,301,173.49, an increase of 29.3% compared to RMB 1,756,324,215.86 in Q1 2020[41] - Net profit for Q1 2021 reached RMB 273,552,694.82, representing a 25% increase from RMB 218,882,192.43 in Q1 2020[44] - The company’s operating profit for Q1 2021 was RMB 280,183,307.07, an increase of 25.8% from RMB 222,658,058.87 in Q1 2020[41] - The total comprehensive income for the first quarter of 2021 was CNY 57,484,651.26, compared to CNY 44,225,223.94 in the same period of 2020, representing an increase of approximately 29.5%[50] Cash Flow - Net cash flow from operating activities improved significantly, reaching CNY 42,319,203.52, a 113.89% increase from the previous year[11] - Cash inflow from operating activities reached CNY 1,947,734,771.32, a significant increase from CNY 941,744,763.59 in Q1 2020, marking a growth of about 106.5%[51] - The net cash flow from operating activities was CNY 42,319,203.52, recovering from a negative CNY 304,767,047.77 in the previous year[53] - Cash outflow for investment activities totaled CNY 1,798,044,183.62, a substantial increase from CNY 124,619,868.46 in Q1 2020, indicating a shift towards aggressive investment strategies[53] - The net cash flow from investment activities was negative CNY 1,673,233,607.59, compared to a positive CNY 15,604,193.49 in the same quarter of the previous year[53] - Total cash inflow from financing activities amounted to $46,899,233.52[57] - Net cash flow from financing activities was $44,253,510.05, a significant improvement from -$345,604,250.43[57] Assets and Liabilities - Total assets increased by 15.36% to CNY 16,931,548,162.87 compared to the end of the previous year[11] - Total current assets amounted to ¥12,095,835,963.29, up from ¥10,811,279,791.87 in the previous year[26] - Total liabilities amounted to CNY 5,958,733,462.90, an increase from CNY 3,977,750,177.06 year-over-year[31] - Total equity attributable to shareholders reached CNY 10,869,601,470.98, up from CNY 10,604,744,202.64[31] - Accounts receivable increased by 94.02% to CNY 1,342,121,780.45, primarily due to sales not yet settled[19] - Accounts payable rose by 39.95% to ¥3,108,570,158.57 from ¥2,221,199,886.76, primarily due to increased procurement during the reporting period[22] - Contract liabilities increased by 34.83% to ¥891,760,400.86 from ¥661,378,346.55, reflecting higher advance payments received[22] Investment and R&D - Research and development expenses increased by 105.26% to ¥4,402,210.97 from ¥2,144,655.31, mainly due to increased investment in smart education[21] - Investment income rose by 67.18% to ¥19,657,055.68 from ¥11,758,113.22, attributed to higher returns from investment projects[21] - The company reported a significant decrease in fair value changes in investment projects, with a loss of ¥479,605.41 compared to a gain of ¥9,315,204.90 in the previous period, indicating volatility in investment valuations[21] Operational Costs - Total operating costs for Q1 2021 were RMB 1,962,873,548.59, up 30.5% from RMB 1,503,516,139.88 in Q1 2020[41] - Cash paid for purchases and services increased by 72.21% to ¥1,483,948,108.36 from ¥861,692,669.38, mainly due to higher procurement settlements[23] - The cash outflow for employee compensation was CNY 292,940,696.28, an increase from CNY 229,021,888.02 in the previous year, indicating rising operational costs[53] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies[11]