奇精机械(603677) - 2021 Q1 - 季度财报

Financial Performance - Operating revenue for the first quarter reached CNY 489,693,426.15, representing a 68.60% increase year-on-year[7] - Net profit attributable to shareholders increased by 83.21% to CNY 20,372,741.31 compared to the same period last year[7] - Basic earnings per share increased by 83.33% to CNY 0.11 per share[7] - The company's operating revenue for Q1 2021 was RMB 489,693,426.15, representing a 68.60% increase compared to the previous year[14] - The net profit for Q1 2021 reached RMB 20,372,741.31, an increase of 83.21% year-over-year[15] - The total profit for Q1 2021 was ¥21,345,937.58, an increase from ¥12,495,149.30 in Q1 2020, representing a growth of approximately 70.5%[54] - The company's total comprehensive income for Q1 2021 was ¥20,451,969.22, compared to ¥11,119,887.17 in Q1 2020, indicating an increase of approximately 83.5%[54] Cash Flow - The net cash flow from operating activities was negative at CNY -6,196,123.00, a decrease of 113.40% compared to the previous year[7] - The cash flow from operating activities showed a net outflow of RMB 6,196,123.00, a decline of 113.40% year-over-year[16] - In Q1 2021, the company's cash inflow from operating activities was CNY 439,955,705.45, a 40.5% increase from CNY 313,193,651.93 in Q1 2020[58] - The company reported a net cash outflow from investing activities of CNY -9,312,256.50, down from a net inflow of CNY 42,403,523.16 in Q1 2020[59] - Cash inflow from financing activities was CNY 50,000,000.00, slightly up from CNY 49,990,324.35 in Q1 2020[59] - The net cash flow from financing activities improved to CNY 34,098,686.11, compared to a net outflow of CNY -597,766.74 in the previous year[59] Assets and Liabilities - Total assets increased by 4.66% to CNY 1,892,334,641.48 compared to the end of the previous year[7] - The company reported a significant increase in accounts receivable by 127.49% to CNY 69,478,284.79 due to increased bill amounts received[13] - The company’s total liabilities increased, with contract liabilities rising by 73.90% to RMB 404,730.17, indicating more prepayments from customers[14] - Total liabilities rose to ¥834,007,597.75, compared to ¥770,275,465.55, indicating an increase of 8.3%[48] - The company's cash and cash equivalents amounted to ¥233,891,999.69, up from ¥210,286,544.10, representing an increase of 11.2%[49] - The company’s inventory increased to RMB 394,155,738.97 as of March 31, 2021, compared to RMB 330,464,417.32 at the end of 2020[46] Shareholder Information - The number of shareholders at the end of the reporting period was 7,837[10] - The largest shareholder, Ningbo Qijing Holding Co., Ltd., holds 52.03% of the shares[10] - The company distributed a cash dividend of RMB 0.1 per share, totaling RMB 19,213,691 based on a total share capital of 192,136,910 shares[35] Research and Development - Research and development expenses increased by 75.93% to RMB 17,321,888.53, reflecting higher investment in new products and technologies[14] - Research and development expenses in Q1 2021 amounted to ¥17,321,888.53, which is a 75.5% increase from ¥9,845,987.98 in Q1 2020[56] Corporate Actions - The company has completed the fundraising for the annual production expansion project of 26 million automotive powertrain key components, with a total of RMB 202.30 million used[19] - The company has terminated the non-public issuance of A-shares originally planned for 2019, as approved in the board meetings held on April 19, 2021[21] - The company plans to invest RMB 22.996 million in the annual production expansion project of 26 million automotive powertrain key components, with RMB 19.943 million already invested[22] Related Party Transactions - The estimated total amount of daily related transactions for 2021 is expected to be no more than RMB 27.339 million, involving business interactions with Ningbo Yulin Metal Products Co., Ltd.[31] - The total amount of related party transactions for 2021 is projected to be RMB 2,733.90 million, with actual transactions amounting to RMB 645.44 million[32] - The company signed a lease agreement with Ningbo Qijing Holdings for office space, with an annual rent of RMB 94,824, resulting in a related party transaction of RMB 23,706 in Q1 2021[32] Compliance and Standards - The company adopted new leasing standards effective January 1, 2021, impacting financial reporting[67] - The company is in compliance with the new accounting standards as mandated by the Ministry of Finance[70]