华菱精工(603356) - 2021 Q1 - 季度财报

Financial Performance - Operating revenue increased by 71.69% to CNY 351,036,784.16 year-on-year[7] - Net profit attributable to shareholders was CNY -10,959,281.49, a decrease of 441.58% compared to the same period last year[7] - Basic and diluted earnings per share were both CNY -0.082, a decrease of 441.67% year-on-year[7] - The company reported a net loss attributable to shareholders of ¥10,959,281.49, a significant decline of 441.58% compared to a profit of ¥3,208,390.92 in Q1 2020, primarily due to rising raw material prices[13] - In Q1 2021, the company reported a net profit of -2,143,970.95 RMB, compared to a net profit of 2,131,388.99 RMB in Q1 2020, indicating a significant decline in profitability[31] - The company reported a total comprehensive income of -2,143,970.95 RMB in Q1 2021, compared to 2,131,388.99 RMB in Q1 2020, reflecting a substantial decrease in overall financial performance[32] Cash Flow - Cash flow from operating activities was CNY -1,986,928.11, showing significant improvement from CNY -32,192,268.94 in the previous year[7] - Cash flow from operating activities increased by 109.67% to ¥668,294,260.78, driven by higher sales and cash collection[14] - The company experienced a cash flow from operating activities of -1,986,928.11 RMB in Q1 2021, an improvement from -32,192,268.94 RMB in Q1 2020[36] - The net cash flow from operating activities was -$14,048,672.54, an improvement from -$48,707,104.11 in the previous year[39] - The company reported a total cash outflow from operating activities of $251,781,988.31, compared to $288,266,535.38 in the same quarter last year[39] Assets and Liabilities - Total assets decreased by 2.25% to CNY 1,747,049,754.41 compared to the end of the previous year[7] - Total current assets as of March 31, 2021, amounted to ¥1,225,303,588.24, a slight decrease from ¥1,241,703,680.70 as of December 31, 2020, representing a decline of approximately 1.3%[19] - Total non-current assets decreased to ¥521,746,166.17 from ¥545,526,545.83, a decline of about 4.4%[20] - Total liabilities decreased to ¥900,426,807.56 from ¥926,581,405.72, a decline of about 2.8%[21] - Long-term borrowings increased significantly to ¥360,760,000.00 from ¥210,760,000.00, reflecting an increase of approximately 71.1%[21] - Total current liabilities decreased to ¥506,571,219.60 from ¥682,264,642.67, a reduction of about 25.8%[20] Shareholder Information - The total number of shareholders was 12,083 at the end of the reporting period[10] - The largest shareholder, Huang Yehua, holds 24.82% of the shares, totaling 33,100,000 shares[10] Costs and Expenses - Operating costs rose to ¥327,649,600.05, an 87.91% increase from ¥174,360,577.60 in the same period last year, reflecting higher material costs[13] - The company’s financial expenses surged by 1121.67% to ¥4,573,590.94, attributed to increased bank loan costs[13] - Total operating costs for Q1 2021 were ¥368,763,128.11, up from ¥205,643,148.99 in Q1 2020, reflecting a significant increase in costs[26] - The company reported a financial expense of ¥4,573,590.94 in Q1 2021, significantly higher than ¥374,371.02 in Q1 2020, primarily due to increased interest expenses[26] Inventory and Assets Management - Inventory increased by 24.10% to ¥224,044,010.4 from ¥180,534,817.3, indicating a buildup of production materials[12] - The company’s intangible assets rose by 60.25% to ¥72,555,745.94, reflecting an increase in purchased land use rights[12] - Accounts receivable decreased to ¥575,485,047.67 from ¥674,805,512.13, reflecting a decline of about 14.7%[19] - Cash and cash equivalents increased to ¥232,961,270.91 from ¥157,827,910.77, showing a growth of approximately 47.5%[19] Future Plans and Strategies - The company has not disclosed any new product developments or market expansion strategies in this report[7] - The company plans to adjust product sales prices in response to rising material costs, which have increased from ¥4,700 per ton in December 2020 to ¥5,800 per ton[13] - The company plans to focus on market expansion and new product development as part of its future strategy[27]