New East(SH:603110)2021-04-27 16:00Financial Performance - Operating revenue rose by 45.60% to CNY 101,986,365.02 year-on-year[5] - Net profit attributable to shareholders increased by 24.24% to CNY 12,545,897.31 compared to the same period last year[5] - Basic and diluted earnings per share both increased by 28.57% to CNY 0.09[5] - Operating revenue grew by 45.60% to ¥101,986,365.02, recovering from the significant decline in the same period last year due to the pandemic[13] - Operating profit for Q1 2021 was ¥15,254,403.12, compared to ¥11,757,361.49 in Q1 2020, reflecting a growth of 29.5%[25] - Net profit for Q1 2021 after tax expenses of ¥2,703,445.28 was ¥12,545,897.31, up from ¥10,098,455.50 in Q1 2020[25] - The net profit for Q1 2021 was ¥12,545,897.31, an increase from a net profit of ¥10,098,455.50 in Q1 2020, representing a growth of 24.3%[26] - The total comprehensive income for Q1 2021 was ¥12,545,897.31, reflecting an increase from ¥10,098,455.50 in Q1 2020[26] Cash Flow - Net cash flow from operating activities improved significantly, with a net inflow of CNY 3,056,705.86 compared to a net outflow of CNY 6,834,228.28 in the previous year, marking a 144.73% increase[5] - Net cash flow from operating activities improved by 144.73% to ¥3,056,705.86, mainly due to increased cash collections[13] - Cash flow from operating activities for Q1 2021 was ¥3,056,705.86, recovering from a negative cash flow of ¥6,834,228.28 in Q1 2020[31] - The company generated cash inflows from operating activities totaling ¥111,762,950.62 in Q1 2021, compared to ¥91,537,168.62 in Q1 2020, representing a growth of 22.0%[30] - The company reported a total cash inflow from operating activities of 3,035,130.99 RMB, driven by a 10.7% increase in cash received from sales and services[34] Assets and Liabilities - Total assets increased by 2.46% to CNY 802,257,071.91 compared to the end of the previous year[5] - Total assets increased to ¥802,257,071.91 from ¥782,978,633.44, reflecting overall growth in the company's financial position[18] - Total liabilities increased to ¥159,163,245.07 from ¥152,405,703.91, indicating a rise in financial obligations[18] - Total liabilities decreased to ¥7,136,740.95 in Q1 2021 from ¥12,107,431.71 in Q1 2020, a reduction of 41.4%[22] - Shareholders' equity increased to ¥416,493,497.65 in Q1 2021 from ¥408,034,012.83 in Q1 2020, showing a growth of 2.4%[22] Shareholder Information - The number of shareholders reached 6,894 by the end of the reporting period[10] - The largest shareholder, Xu Guangbin, holds 29.90% of the shares, totaling 42,976,281 shares[10] Research and Development - R&D expenses rose by 53.80% to ¥5,220,440.11, driven by increased costs for materials and labor[13] - Research and development expenses for Q1 2021 were ¥5,220,440.11, up 54.0% from ¥3,394,242.07 in Q1 2020[25] Inventory and Accounts - Prepaid accounts increased by 84.96% to ¥15,914,428.40 due to an increase in material purchases during the reporting period[12] - Inventory rose by 29.10% to ¥75,177,230.95 primarily due to increased raw material stocking[12] - Construction in progress increased by 44.27% to ¥12,866,932.33, mainly due to equipment investment in the solvent-free project by the Tongxiang subsidiary[12] - Accounts payable increased by 80.71% to ¥78,851,593.06, attributed to increased material payments by the Tongxiang subsidiary[12] Management and Governance - The company has not disclosed any new product or technology developments in this report[5] - There are no significant mergers or acquisitions reported during this quarter[5] - The company has not applied the new leasing standards, indicating a stable accounting approach for the current reporting period[35] - The company’s management team includes Fan Lili as the responsible person, Wang Xiuling as the accounting supervisor, and Liang Cuiyan as the head of the accounting institution[35]