TC(SH:603085)2021-04-14 16:00Financial Performance - Operating revenue rose by 41.29% to CNY 374,006,853.58 year-on-year[5] - Net profit attributable to shareholders increased significantly by 515.06% to CNY 20,438,018.03 compared to the same period last year[5] - Basic and diluted earnings per share both increased to CNY 0.06, up 500% from CNY 0.01 in the same period last year[5] - The weighted average return on equity rose to 2.00%, an increase of 1.54 percentage points compared to the previous year[5] - The company reported a total of CNY 2,312,761.77 in non-recurring gains and losses for the period[8] - The total comprehensive income for Q1 2021 was CNY 21,400,290.43, compared to CNY 909,446.63 in Q1 2020, showing a substantial increase of approximately 2240%[29] - The company's net profit for Q1 2021 showed a significant improvement, with undistributed profits at -CNY 246,946,899.48 compared to -CNY 267,384,917.51 in the previous year[21] - The net profit for Q1 2021 reached CNY 20,438,018.03, compared to CNY 3,322,933.29 in Q1 2020, indicating a year-over-year increase of about 516%[28] Cash Flow - The net cash flow from operating activities improved to CNY 32,220,460.21, a recovery from a loss of CNY 46,156,444.24 in the previous year[5] - Cash flow from operating activities improved significantly, with a net cash flow of CNY 32,220,460.21 compared to a negative CNY 46,156,444.24 in the previous year[14] - The company's cash inflow from operating activities in Q1 2021 was CNY 344,243,508.62, compared to CNY 256,245,968.57 in Q1 2020, representing a growth of about 34%[33] - Total cash inflow from operating activities reached ¥338,254,309.44, compared to ¥125,000,031.14 in the same period last year, reflecting a year-over-year increase of approximately 170.0%[38] - The net cash flow from operating activities for Q1 2021 was ¥31,417,846.41, a significant improvement from -¥30,012,513.14 in Q1 2020, indicating a turnaround in operational performance[38] Assets and Liabilities - Total assets increased by 9.57% to CNY 2,633,573,058.13 compared to the end of the previous year[5] - The company's total assets increased to CNY 2,633,573,058.13, up from CNY 2,403,471,575.16, reflecting overall growth[19] - Total liabilities increased to CNY 1,601,534,449.93 in Q1 2021 from CNY 1,392,786,883.36 in the previous year, representing a rise of 15%[21] - Long-term borrowings doubled to CNY 200,259,197.89, reflecting increased financing activities[13] - Long-term borrowings increased significantly to CNY 200,259,197.89 from CNY 100,185,746.62, representing a 99.5% increase[24] - Current liabilities totaled ¥1,240,872,974.81, including short-term borrowings of ¥382,419,649.46 and accounts payable of ¥454,999,759.36[42] Shareholder Information - The total number of shareholders reached 17,714 by the end of the reporting period[10] - The largest shareholder, Zhejiang Tiancheng Ke Investment Co., Ltd., holds 36.93% of the shares, amounting to 136,738,500 shares[10] Operational Highlights - The company successfully launched a production line for carbon fiber composite components for aircraft seats, marking a significant milestone in its investment project[15] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[15] Costs and Expenses - Operating costs increased by 46% to CNY 293,994,458.31, driven by revenue growth[13] - The company reported a 54% increase in tax payable, amounting to CNY 11,803,512.19, due to higher taxable income[13] - Research and development expenses for Q1 2021 were CNY 11,952,430.52, slightly higher than CNY 9,534,401.68 in Q1 2020, reflecting a growth of approximately 25%[31] - The company's financial expenses decreased to CNY 5,418,361.18 in Q1 2021 from CNY 10,781,601.14 in Q1 2020, a reduction of about 50%[28] - The company reported a decrease in employee compensation payable from CNY 16,630,539.38 to CNY 9,460,162.73, indicating a reduction of 43%[21] Inventory and Assets Management - The inventory balance rose to CNY 404,253,874.78, up from CNY 349,427,341.60, indicating increased stock levels[19] - The company's inventory as of March 31, 2021, was CNY 291,021,393.83, compared to CNY 266,041,087.83 at the end of 2020, showing an increase of 9.4%[22] Interest and Income - Interest income surged by 152% to CNY 535,505.74, attributed to increased deposit interest[13] - The company reported a decrease in interest expenses from CNY 10,937,209.98 in Q1 2020 to CNY 4,380,997.82 in Q1 2021, a reduction of about 60%[28] Comprehensive Financial Position - The total equity attributable to shareholders was CNY 1,032,038,608.20, an increase from CNY 1,010,638,317.77 in the previous year, reflecting a growth of 2.5%[21] - The company reported an accumulated deficit of $181,022,054.13, reflecting ongoing challenges in profitability[47] - Total equity stands at $1,072,722,095.09, indicating a stable financial position[47]