SuKen Agriculture(SH:601952)2021-04-27 16:00Financial Performance - Operating revenue rose by 34.43% to CNY 1.83 billion year-on-year[11] - Net profit attributable to shareholders increased by 16.66% to CNY 116.13 million compared to the same period last year[11] - Basic earnings per share increased by 14.29% to CNY 0.08[11] - The company's net profit attributable to minority shareholders increased by 85.84% year-on-year, reaching CNY 11,291,611.32[24] - The total profit for the first quarter of 2021 was 141,337,303.95 CNY, compared to 113,974,274.53 CNY in the same period of 2020, representing an increase of approximately 23.9%[50] - The net profit attributable to shareholders of the parent company for Q1 2021 was 116,127,447.93 CNY, up from 99,543,283.78 CNY in Q1 2020, reflecting a growth of about 16.6%[50] - The company's net profit margin improvement, with net profit for Q1 2021 reflecting a positive trend compared to the previous year[48] Assets and Liabilities - Total assets increased by 55.90% to CNY 13.52 billion compared to the end of the previous year[11] - Total liabilities were ¥7.69 billion, compared to ¥1.99 billion at the end of 2020, marking an increase of approximately 285.4%[38] - Total liabilities increased to ¥7,080,796,969.31 from ¥1,494,806,247.25, indicating a substantial rise in financial obligations[44] - Total assets as of the reporting date were ¥11,815,083,025.93, significantly higher than ¥7,159,436,317.02 from the previous year[44] - Total liabilities amounted to approximately $1.49 billion, a decrease of about $5.77 billion compared to the previous period[76] Cash Flow - Net cash flow from operating activities decreased by 578.38% to -CNY 348.49 million[11] - The cash inflow from operating activities for Q1 2021 was 1,987,524,097.39 CNY, up from 1,545,438,810.60 CNY in Q1 2020, indicating an increase of about 28.6%[56] - The cash flow from financing activities showed a net increase of 4,697,525.90, compared to 62,419,885.31 in the previous year, reflecting a decrease in financing activity effectiveness[60] - The company experienced a net decrease in cash and cash equivalents of -375,405,126.13, contrasting with a net increase of 176,278,135.97 in the previous year[60] - The total cash flow from investment activities resulted in a net outflow of -112,555,131.22, compared to a net inflow of 109,129,673.80 in the previous year, indicating a shift in investment strategy[62] Inventory and Receivables - The total inventory of self-produced wheat increased by 374.76% year-on-year, while the sales volume rose by 74.29%[20] - The company reported a significant increase in accounts receivable, which rose by CNY 124,690,778.24, reflecting a 57.30% increase compared to the previous year[22] - Accounts receivable increased to ¥342.28 million, up from ¥217.59 million, reflecting a growth of about 57.3%[36] - Inventory levels rose to ¥915,577,661.85, compared to ¥830,720,696.16, marking an increase of 10.2%[44] Shareholder Information - The number of shareholders reached 70,396 at the end of the reporting period[13] - Jiangsu Agricultural Reclamation Group Co., Ltd. held 67.84% of the shares, totaling 934,896,426 shares[13] Government and Financial Support - Government subsidies recognized in the current period amounted to CNY 11.62 million[11] - The company’s financial expenses increased by CNY 68,286,006.29, primarily due to the recognition of lease liabilities under the new leasing standards[22] Market Strategy - The company plans to expand its market presence and enhance product offerings in response to the growing demand for agricultural products[26]