G-bits(SH:603444)2021-04-22 16:00Financial Performance - Operating revenue grew by 51.09% to CNY 1,117,723,072.88 year-on-year, driven by new game launches such as "A Thought on Immortality"[13] - Net profit attributable to shareholders increased by 13.36% to CNY 365,238,068.35, with a lower growth rate than revenue due to high marketing expenses for new game launches[13] - The company reported a net profit excluding non-recurring gains and losses of CNY 354,898,920.41, a 20.42% increase year-on-year[13] - Basic earnings per share rose by 12.89% to CNY 5.08, while diluted earnings per share increased by 13.14% to CNY 5.08[13] - Total revenue for Q1 2021 reached ¥1,117,723,072.88, a 50.9% increase from ¥739,794,352.59 in Q1 2020[49] - Operating profit for Q1 2021 was ¥542,707,101.44, compared to ¥497,521,387.89 in Q1 2020, reflecting an 9.1% increase[49] - Net profit attributable to shareholders for Q1 2021 was ¥365,238,068.35, up from ¥322,195,900.73 in Q1 2020, representing a 13.4% growth[51] Assets and Liabilities - Total assets increased by 13.74% to CNY 6,127,708,373.82 compared to the end of the previous year[13] - Total liabilities increased to ¥1,423,910,330.85 as of March 31, 2021, compared to ¥1,139,971,952.44 on December 31, 2020, representing a growth of approximately 24.9%[38] - Total equity attributable to shareholders rose to ¥4,179,634,173.81 as of March 31, 2021, up from ¥3,802,961,389.06 at the end of 2020, indicating an increase of about 9.9%[38] - Current assets totaled ¥1,139,130,100.39 as of March 31, 2021, a decrease from ¥1,512,046,470.37 on December 31, 2020, reflecting a decline of approximately 24.6%[41] - The total non-current liabilities decreased to ¥166,327,224.00 as of March 31, 2021, from ¥168,081,518.22 on December 31, 2020, indicating a slight reduction of approximately 1.0%[38] Cash Flow - Cash flow from operating activities decreased by 10.10% to CNY 327,582,010.07, primarily due to increased marketing and revenue-sharing expenses for new games[13] - Cash inflows from operating activities in Q1 2021 totaled CNY 941,516,506.35, an increase of 31.3% compared to CNY 717,469,617.18 in Q1 2020[60] - The net cash flow from operating activities for Q1 2021 was CNY 327,582,010.07, a decrease of 10.1% from CNY 364,392,864.47 in Q1 2020[60] - Cash inflows from investment activities in Q1 2021 amounted to CNY 1,088,349,613.44, down 25% from CNY 1,450,844,478.44 in Q1 2020[60] - The net cash flow from investment activities was negative CNY 564,836,016.72 in Q1 2021, compared to negative CNY 34,444,965.11 in Q1 2020[60] Expenses - Operating costs surged by 193.34% to ¥187,827,752.16, primarily due to increased payments to external developers[25] - Sales expenses increased by 409.03% to ¥263,557,230.75, attributed to significant advertising investments for the new game "Yinian Xiaoyao" and ongoing marketing for "Wendao Mobile Game"[25] - Research and development expenses increased to ¥146,957,617.19 in Q1 2021, up from ¥107,227,691.02 in Q1 2020, indicating a 37.0% rise[49] - The company’s tax expenses for Q1 2021 were ¥98,438,653.26, compared to ¥73,932,910.39 in Q1 2020, an increase of 33.1%[49] Shareholder Information - The number of shareholders at the end of the reporting period was 24,524, with the largest shareholder holding 30.10% of the shares[19] - The company's retained earnings increased to ¥2,931,077,467.41 as of March 31, 2021, compared to ¥2,565,839,399.06 at the end of 2020, reflecting a growth of about 14.3%[38] Investments - Long-term equity investments increased by 89.93% to ¥1,035,691,748.58 compared to the previous year-end due to new equity investments[25] - Investment income grew by 479.48% to ¥70,816,894.65, reflecting higher equity method investment income from joint ventures[25]