Kehua Holdings(SH:603161)2021-04-20 16:00Financial Performance - Operating revenue rose by 42.15% to CNY 505,659,916.91 year-on-year, driven by expanded production scale and increased customer orders[6] - Net profit attributable to shareholders increased by 71.38% to CNY 30,015,570.24, supported by enhanced production capacity and improved gross margin[7] - Basic and diluted earnings per share rose by 76.92% to CNY 0.23[5] - The company expects a significant increase in both operating revenue and cumulative net profit compared to the same period last year, based on current market conditions[16] - Total operating revenue for Q1 2021 was approximately ¥505.66 million, a 42% increase from ¥355.71 million in Q1 2020[28] - Net profit for Q1 2021 reached approximately ¥30.02 million, compared to ¥17.51 million in Q1 2020, marking a 71% increase[29] - Operating profit for Q1 2021 was approximately ¥29.80 million, an increase from ¥21.59 million in Q1 2020, reflecting a 38% growth[29] Cash Flow - Net cash flow from operating activities decreased by 88.01% to CNY 26,136,432.88, primarily due to increased expenditures on raw materials and employee compensation[6] - Operating cash inflow for Q1 2021 was CNY 609,813,772.30, a decrease of 5.5% compared to CNY 645,626,863.91 in Q1 2020[35] - Operating cash outflow for Q1 2021 totaled CNY 583,677,339.42, up 36.5% from CNY 427,553,892.44 in Q1 2020[35] - Net cash flow from financing activities for Q1 2021 was CNY 63,640,097.52, compared to a negative cash flow of CNY 68,905,335.79 in Q1 2020[36] - The company reported a net increase in cash and cash equivalents of CNY 50,972,122.23 for Q1 2021, compared to CNY 15,627,870.62 in Q1 2020[36] Assets and Liabilities - Total assets increased by 5.46% to CNY 4,208,196,276.13 compared to the end of the previous year[5] - Current liabilities rose to CNY 2,062,912,815.67, compared to CNY 1,879,874,486.73, reflecting an increase of about 9.7%[20] - The company's total liabilities reached CNY 2,870,611,166.17, an increase of 7.0% from CNY 2,682,617,916.39[21] - Owner's equity amounted to CNY 1,337,585,109.96, up from CNY 1,307,790,149.85, showing a growth of approximately 2.3%[21] - Cash and cash equivalents stood at CNY 441,863,345.33, compared to CNY 390,487,575.35, marking an increase of about 13.1%[23] Inventory and Receivables - Inventory level rose to ¥491,153,187.16, compared to ¥445,235,091.42 at the end of the previous year, indicating a buildup in stock[19] - Accounts receivable decreased to CNY 502,470,146.73 from CNY 518,435,512.22, a decline of approximately 3.1%[24] - Inventory increased to CNY 480,039,260.02, up from CNY 434,735,062.49, reflecting a growth of about 10.4%[24] Expenses - Operating costs increased to ¥418,620,406.27, up 40.32% year-on-year, primarily driven by the rise in operating revenue[14] - The company reported a significant increase in financial expenses, totaling ¥21,583,280.14, which is a 253.35% increase compared to the previous year, mainly due to exchange rate fluctuations and increased bank loan interest[14] - Research and development expenses for Q1 2021 were approximately ¥14.61 million, slightly down from ¥14.89 million in Q1 2020[28] - Financial expenses for Q1 2021 were approximately ¥21.58 million, significantly higher than ¥6.11 million in Q1 2020[28] Shareholder Information - The total number of shareholders reached 7,777, with the top shareholder holding 35.50% of the shares[10] - The company received approval from the China Securities Regulatory Commission for a non-public stock issuance, although no new shares have been issued as of the report date[15] Other Income and Expenses - Non-operating income totaled CNY 4,964,302.01, with government subsidies contributing significantly[9] - The company reported a decrease in credit impairment losses by 92.48%, reflecting improved management of bad debt provisions[14] - Other income for Q1 2021 was approximately ¥5.16 million, compared to ¥3.97 million in Q1 2020, indicating a 30% increase[28]