Sinotec(SH:603121)2021-04-26 16:00Financial Performance - The company achieved operating revenue of RMB 230.59 million, representing a year-on-year increase of 88.33%[5] - Net profit attributable to shareholders reached RMB 25.79 million, up 97.29% compared to the same period last year[5] - Basic and diluted earnings per share both doubled to RMB 0.10, reflecting a 100% increase year-on-year[5] - The company's operating revenue for Q1 2021 was RMB 230,587,475.50, an increase of 88.33% compared to RMB 122,440,713.03 in Q1 2020, driven by a recovery in sales following the pandemic[14] - Net profit for Q1 2021 was ¥25,753,847.84, representing a 96.5% increase from ¥13,095,286.31 in Q1 2020[27] - Earnings per share for Q1 2021 were ¥0.10, compared to ¥0.05 in Q1 2020, indicating a 100% increase[27] Cash Flow - Cash flow from operating activities decreased by 86.83% to RMB 6.22 million, primarily due to increased cash payments for goods and services[7] - The company's cash flow from operating activities showed a decrease in tax refunds received, amounting to RMB 9,793,076.50, down 32.76% from RMB 14,564,667.66 in the previous year[15] - The company's cash flow from investing activities showed a decrease in cash received from investment returns, amounting to RMB 1,499,178.08, down 66.83% from RMB 4,519,583.46 in the previous year[15] - Cash flow from operating activities generated ¥6,223,986.62 in Q1 2021, down from ¥47,269,200.16 in Q1 2020[32] - The company reported a net cash outflow from investment activities of ¥41,136,380.86 in Q1 2021, compared to a net outflow of ¥10,183,621.55 in Q1 2020[33] - The total cash outflow from financing activities in Q1 2021 was CNY 50,105,416.67, leading to a net cash flow of -CNY 37,563,716.67 from financing activities[35] Assets and Liabilities - Total assets at the end of the reporting period were RMB 1.67 billion, a 4.13% increase from the end of the previous year[5] - The total number of shareholders reached 22,274, with the largest shareholder holding 43.44% of the shares[11] - The total assets of Shanghai Huapei Power Technology (Group) Co., Ltd. amounted to CNY 1,672,184,338.49, an increase from CNY 1,605,813,857.18 as of December 31, 2020, representing a growth of approximately 4.14%[21] - The total liabilities of the company were CNY 527,536,791.26, up from CNY 486,920,157.79, representing an increase of about 8.3%[21] - The owner's equity totaled CNY 1,144,647,547.23, compared to CNY 1,118,893,699.39 at the end of 2020, reflecting a growth of approximately 2.31%[21] Costs and Expenses - The operating cost for Q1 2021 was RMB 168,847,128.30, reflecting a 101.89% increase from RMB 83,633,794.62 in Q1 2020, primarily due to increased sales and higher initial manufacturing costs for new products[14] - The gross profit margin slightly declined due to rising material costs, particularly nickel, cobalt, and chromium[6] - The company's financial expenses increased by 109.17% to RMB -1,423,588.79, primarily due to fluctuations in exchange gains and losses[14] - The company incurred financial expenses of ¥718,635.63 in Q1 2021, compared to a financial income of ¥344,053.91 in Q1 2020[29] Investments and Expansion - The company expects to improve fixed asset utilization rates and gross profit margins as order volumes increase, especially from the Wuhan factory[6] - The total assets under construction increased by 41.35% to RMB 24,719,891.79, attributed to equipment purchases for capacity expansion at the Wuhan factory[14] - The company reported a significant increase in other non-current assets, which rose by 144.54% to RMB 42,461,034.08, due to advance payments for equipment purchases related to capacity expansion[14] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25] Shareholder Information - The total number of shareholders reached 22,274, with the largest shareholder holding 43.44% of the shares[11]