DFSS(SH:603377)2021-04-20 16:00Financial Performance - Net profit attributable to shareholders was CNY 39,717,856.11, a significant recovery from a loss of CNY 44,672,876.62 in the same period last year[5] - Operating revenue increased by 249.61% to CNY 224,171,973.73 compared to CNY 64,120,587.03 in the previous year[5] - The net cash flow from operating activities was CNY 78,547,881.36, a turnaround from a negative cash flow of CNY 59,886,922.59 in the same period last year[5] - Basic and diluted earnings per share improved to CNY 0.07 from a loss of CNY 0.08 in the previous year[5] - Operating profit for Q1 2021 was CNY 24,515,096.15, compared to a loss of CNY 73,592,268.81 in the same period last year, indicating a turnaround in profitability[41] - Net profit for Q1 2021 amounted to CNY 35,156,826.69, a substantial recovery from a net loss of CNY 46,944,057.03 in Q1 2020[43] - The company reported a total comprehensive income of CNY 35,156,826.69 for Q1 2021, compared to a comprehensive loss of CNY 46,944,057.03 in the same quarter last year[43] Assets and Liabilities - Total assets decreased by 5.12% to CNY 4,427,079,449.20 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 45.65% to RMB 319,023,455.26 from RMB 586,926,420.05, mainly due to stock buybacks during Q1[14] - The company's total assets decreased to CNY 4,054,207,265.76 in Q1 2021 from CNY 4,223,228,322.68 in Q1 2020, reflecting a decline of approximately 4%[39] - The total liabilities of the company as of March 31, 2021, were CNY 2.0563 billion, down from CNY 2.1131 billion at the end of 2020[36] - Total liabilities increased slightly to CNY 1,462,346,015.61 in Q1 2021 from CNY 1,449,941,775.16 in Q1 2020, showing a growth of about 0.2%[39] Shareholder Information - The total number of shareholders reached 11,140, indicating a stable shareholder base[10] - The largest shareholder, Dongfang Shifang Investment Co., Ltd., holds 31.31% of the shares, with 100,580,000 shares pledged[11] - The company has pledged 30% of its shares to ensure profit distribution, which may be affected if obligations are not met[30] Government Support and Other Income - The company received government subsidies amounting to CNY 30,412,295.74, contributing to its financial performance[8] - Non-recurring gains and losses totaled CNY 28,458,805.30, reflecting various adjustments and income sources[9] - Other income surged by 576.25% to RMB 7,438,385.55 from RMB 1,099,939.00, largely due to VAT exemptions related to the pandemic[17] Legal and Litigation Matters - The company faced ongoing litigation related to a loan guarantee, with potential financial implications if the judgment is enforced[19] - The ongoing litigation and its outcomes are expected to have no negative impact on the company's current or future profits[24] - The original shareholders are obligated to compensate the company for any losses incurred due to pre-existing conditions or events related to the equity transfer[22] Investment and Acquisitions - The company plans to issue non-public A-shares, with the proposal approved by the board and shareholders, pending approval from the China Securities Regulatory Commission[25] - The acquisition of 60% of Gao'an Oriental Fashion Driving Training Co., Ltd. was completed for 90 million RMB, with a commitment to distribute at least 70% of the annual net profit to shareholders[28] Cash Flow and Financing Activities - The cash outflow from financing activities in Q1 2021 was ¥537,915,689.31, significantly higher than ¥226,536,855.49 in Q1 2020, reflecting increased debt repayment[50] - The company incurred a net cash outflow from financing activities of ¥240,890,247.90, compared to a smaller outflow of ¥25,894,830.62 in the previous year[53] - Total cash inflow from operating activities reached ¥222,332,803.07, compared to ¥169,538,376.02 in the same period last year, marking an increase of approximately 31%[52] Research and Development - Research and development expenses for Q1 2021 were CNY 6,076,855.37, up from CNY 3,921,788.36 in Q1 2020, indicating an increase of about 55%[41] - The company is focused on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[61]