Beijing Cuiwei Tower (SH:603123)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders reached CNY 61,695,389.08, a significant increase of 322.19% compared to a loss of CNY 27,767,004.25 in the same period last year[14]. - Operating revenue for the quarter was CNY 984,538,867.71, reflecting a growth of 7.39% year-on-year[14]. - Basic earnings per share rose to CNY 0.079, a 271.74% increase from a loss of CNY 0.046 in the same period last year[14]. - The company reported a 306.41% increase in investment income, reaching 9,245,403.84 RMB, compared to 2,274,901.51 RMB in the same period last year[23]. - The total comprehensive income for Q1 2021 was CNY 61,960,138.72, a substantial increase from CNY 1,911,302.27 in Q1 2020[70]. - The net profit for Q1 2021 reached CNY 61,907,591.21, a significant increase from CNY 1,940,366.09 in Q1 2020[68]. Assets and Liabilities - Total assets increased by 2.15% to CNY 7,177,971,401.28 compared to the end of the previous year[14]. - The company's total assets amounted to CNY 6,850,899,709.70, compared to CNY 6,833,247,158.17 at the end of the previous period[65]. - The company's current assets decreased to approximately CNY 2.55 billion from CNY 3.24 billion at the end of 2020, primarily due to a reduction in cash and cash equivalents[59]. - The company's total liabilities decreased to approximately CNY 3.33 billion from CNY 3.44 billion at the end of 2020[62]. - Short-term borrowings increased by 41.72% to 859,303,597.19 RMB, indicating a rise in bank loans during the period[21]. - The total liabilities increased by ¥880,298,542.06, reaching ¥4,315,373,855.70[86]. Cash Flow - The net cash flow from operating activities improved by 77.56%, reaching -CNY 51,942,908.01 compared to -CNY 231,503,339.49 in the previous year[14]. - The net cash flow from operating activities increased due to a recovery in sales and rental income, following significant impacts from the pandemic in the previous year[42]. - Cash inflow from operating activities totaled CNY 2,155,342,617.97, an increase of 28.6% compared to CNY 1,676,677,440.09 in the previous year[77]. - Total cash inflow from financing activities reached CNY 769,069,798.36, up from CNY 200,000,000.00 year-over-year[78]. - The net cash outflow from financing activities was CNY -54,582,555.45, an improvement from CNY -166,952,906.95 in the previous year[78]. Shareholder Information - The total number of shareholders at the end of the reporting period was 172,092,100, with the top ten shareholders holding 21.55% of the shares[20]. - The company’s major shareholders, including Cuiwei Group and Haidian State-owned Assets Center, hold 21.55%, 19.50%, and 9.97% of the shares respectively after the acquisition[53]. Research and Development - Research and development expenses accounted for 2.14% of operating revenue, a decrease of 0.57 percentage points compared to the previous year[14]. - Research and development expenses for Q1 2021 were CNY 21,033,882.99, down from CNY 24,813,386.10 in Q1 2020[68]. Acquisitions and Investments - The company completed the acquisition of 98.2975% of Beijing Haike Rongtong Payment Service Co., Ltd. in December 2020, impacting the financial statements for the year[16]. - The company completed the acquisition of 98.2975% of Haike Rongtong's shares, with 70% paid in shares and 30% in cash, totaling approximately ¥1,000 million[50]. - The company raised approximately ¥319.07 million through a private placement of shares at ¥6.64 per share to fund the cash payment for the acquisition[51]. Market Outlook - The company expects a growth in net profit attributable to shareholders in the first half of the year compared to the same period last year, despite the impact of store closures and the low base from the previous year's pandemic[55]. - The company has indicated that the impact of store closures will be temporary, and it is optimistic about future performance as the retail environment stabilizes[55]. - The company plans to continue focusing on market expansion and new product development to sustain growth in the upcoming quarters[70].