Champion Asia(SH:603386)2021-04-12 16:00Financial Performance - The company's operating revenue for Q1 2021 reached RMB 578,778,188.28, representing a year-on-year increase of 54.47% compared to RMB 374,681,415.68 in the same period last year[5]. - The net profit attributable to shareholders was RMB 58,935,782.01, a significant turnaround from a loss of RMB 9,953,051.31 in the previous year[5]. - Basic and diluted earnings per share were both RMB 0.26, compared to a loss of RMB 0.04 per share in the previous year[5]. - Operating profit for Q1 2021 was RMB 65.14 million, compared to a loss of RMB 15.11 million in Q1 2020[23]. - The total comprehensive income for Q1 2021 was RMB 58.96 million, compared to a loss of RMB 9.83 million in Q1 2020[24]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 3,068,581,996.04, an increase of 2.72% from RMB 2,987,446,948.14 at the end of the previous year[5]. - Total liabilities amounted to ¥1,890,486,689.53, up from ¥1,867,675,017.75, marking an increase of around 1.2%[18]. - Owner's equity reached ¥1,178,095,306.51, an increase from ¥1,119,771,930.39, showing a growth of about 5.2%[18]. - Current liabilities rose to ¥1,674,905,903.31, compared to ¥1,650,161,882.91 in the previous quarter, reflecting an increase of approximately 1.5%[17]. - The company reported short-term borrowings of CNY 525,506,951.10 and long-term borrowings of CNY 141,504,199.51[37]. Cash Flow - The net cash flow from operating activities was negative at RMB -31,121,256.25, compared to RMB -10,062,187.21 in the same period last year[5]. - The cash inflow from operating activities was CNY 432,215,764.31, an increase of 32.6% compared to CNY 325,790,857.37 in Q1 2020[29]. - The cash inflow from sales of goods and services was CNY 380,804,944.12 in Q1 2021, an increase of 21.6% from CNY 313,057,007.05 in Q1 2020[29]. - The net cash flow from investment activities was negative CNY 43,894,075.85 in Q1 2021, worsening from negative CNY 21,187,517.23 in Q1 2020[30]. - The net cash flow from financing activities was negative CNY 16,660,493.77 in Q1 2021, compared to positive CNY 24,129,598.92 in Q1 2020[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 12,664[8]. - The largest shareholder, Junya Enterprise Co., Ltd., held 64.69% of the shares[8]. Operational Insights - The company plans to continue expanding its business and improving operational efficiency to sustain growth[5]. - The company is in the process of acquiring 100% equity of Sumitomo Electric, with related work ongoing[12]. - The simulated combined revenue of acquired subsidiaries reached ¥0.98 billion, with a net profit of ¥11.87 million during the reporting period[10]. Other Financial Metrics - The weighted average return on net assets improved to 5.17%, up from -0.99% in the same period last year[5]. - The company's cash and cash equivalents decreased by 39.77% to ¥146,985,412.44 from ¥244,054,949.72, primarily due to increased payments for goods[10]. - Inventory increased by 35.51% to ¥453,005,394.74, attributed to increased production during the reporting period[10]. - Research and development expenses for Q1 2021 were RMB 28.87 million, slightly down from RMB 29.03 million in Q1 2020[23]. - The company experienced a credit impairment loss of RMB 1.31 million in Q1 2021, compared to a gain of RMB 2.07 million in Q1 2020[23].