JH Group(SH:603518)2021-04-28 16:00Financial Performance - Total revenue for Q1 2021 reached RMB 1,072,419,923.55, an increase of 78.05% compared to RMB 602,323,342.77 in the same period last year[7] - Net profit attributable to shareholders was RMB 94,672,649.65, a significant increase of 15,661.80% from RMB 600,646.37 in Q1 2020[7] - The company reported a net profit excluding non-recurring gains and losses of RMB 87,730,175.05, a turnaround from a loss of RMB 14,085,856.67 in the previous year[7] - The company reported a significant recovery from a net loss of ¥30,992,755.11 in Q1 2020, representing a turnaround of over 400%[41] - The total profit for Q1 2021 was ¥88,416,783.47, compared to a loss of ¥41,321,260.25 in Q1 2020, marking a substantial improvement[41] Revenue Breakdown - TEENIE brand's main operating revenue was RMB 817,562,433.42, with a gross margin of 68.87%, reflecting an increase of 5.41 percentage points compared to the previous year[14] - The total operating revenue for the company reached ¥1,071,158,693.75, representing a year-on-year increase of 77.98%[15] - Operating revenue from sales of goods and services reached ¥1,060,512,453.84 in Q1 2021, up from ¥855,756,721.97 in Q1 2020, indicating a growth of approximately 23.9%[42] Cost and Expenses - Total operating costs for Q1 2021 were ¥948,031,957.55, up 53.3% from ¥618,498,517.54 in Q1 2020[37] - The company reported a 79% increase in sales expenses, totaling ¥502,291,888.04, in line with the rise in revenue[23] - The company incurred financial expenses of ¥58,803,954.70 in Q1 2021, slightly up from ¥57,369,656.19 in Q1 2020, showing an increase of approximately 2.5%[41] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 38.71% to RMB 162,200,491.73 from RMB 264,651,635.90 year-on-year[7] - The net cash outflow from financing activities increased by 811% to ¥412,996,013.37, primarily due to debt repayments and share buybacks[25] - Cash and cash equivalents were CNY 544,563,878.27, down from CNY 808,378,760.15, indicating a decrease of about 32.7%[29] - The company reported a net cash outflow from investing activities of ¥12,315,200.82 in Q1 2021, worsening from a net outflow of ¥7,597,152.75 in Q1 2020[43] Assets and Liabilities - The total assets at the end of the reporting period were RMB 5,413,406,536.20, down 3.80% from RMB 5,627,103,984.50 at the end of the previous year[7] - Total liabilities were CNY 3,394,214,300.38, down from CNY 3,680,217,029.76, showing a decline of around 7.8%[31] - The company's total liabilities decreased to ¥4,101,001,378.91 in Q1 2021 from ¥4,443,139,635.65 in Q1 2020[34] - The total assets increased to CNY 5,785,038,670.22, up from CNY 5,627,103,984.50, indicating growth in the company's asset base[49] Equity and Shareholder Information - The company's equity increased to CNY 2,019,192,235.82 from CNY 1,946,886,954.74, reflecting an increase of approximately 3.7%[31] - Basic earnings per share for Q1 2021 were ¥0.38, compared to ¥0.00 in Q1 2020[38] - The total equity increased to ¥1,652,384,526.73 in Q1 2021, up from ¥1,574,458,968.00 in Q1 2020[34] Store and Franchise Operations - The number of VGRASS direct stores decreased by 1.14% to 173 from 176 in the previous year, while the number of franchise stores remained stable at 18[12] - The total number of stores across all brands decreased by 8.35% to 1,317 from 1,437 in the previous year[12] - The company plans to expand its franchise channels, leading to an increase in contract liabilities due to higher prepayments from franchisees[20] Inventory and Management - The company's total assets decreased by 27% in inventory, from ¥969,782,141.74 to ¥704,660,742.56, due to effective inventory management[20] - Inventory decreased to CNY 704,660,742.56 from CNY 801,433,176.77, representing a reduction of approximately 12.1%[29] Future Outlook - The company plans to continue expanding its market presence and investing in new product development in the upcoming quarters[37]