PACIFIC QUARTZ(SH:603688)2021-04-26 16:00Financial Performance - Operating revenue rose by 48.94% to CNY 207,665,560.99 year-on-year[5] - Net profit attributable to shareholders increased by 35.56% to CNY 42,389,287.17 compared to the same period last year[5] - Basic earnings per share increased by 33.33% to CNY 0.12, while diluted earnings per share rose by 22.22% to CNY 0.11[5] - Operating revenue for Q1 2021 was ¥207,665,560.99, a 48.94% increase from ¥139,426,553.92 in Q1 2020, driven by growth in quartz product sales[14] - Net profit for Q1 2021 reached ¥42,389,287.17, representing a 35.5% increase from ¥31,270,079.19 in Q1 2020[25] - Total comprehensive income for Q1 2021 was RMB 35,158,579.36, compared to RMB 28,179,006.14 in Q1 2020[28] Assets and Liabilities - Total assets increased by 1.86% to CNY 2,214,013,412.73 compared to the end of the previous year[5] - Total assets as of March 31, 2021, amounted to ¥2,214,013,412.73, up from ¥2,173,522,900.93 at the end of 2020[16] - Total liabilities decreased to ¥225,093,042.20 in Q1 2021 from ¥229,159,355.09 in Q1 2020[20] - Total equity increased to ¥1,966,823,886.74 in Q1 2021, up from ¥1,927,831,535.63 in Q1 2020[20] Cash Flow - Cash flow from operating activities improved significantly, with a net cash flow of -CNY 2,413,663.58, an 89.83% increase compared to the previous year[5] - Cash flow from operating activities showed a net outflow of RMB 2,413,663.58 in Q1 2021, an improvement from a net outflow of RMB 23,742,040.19 in Q1 2020[30] - The company reported a decrease in cash and cash equivalents to ¥289,502,699.98 from ¥381,913,599.85, indicating a liquidity contraction[15] - The cash and cash equivalents at the end of the period amounted to 280,592,727.26, down from 372,690,509.75 at the beginning of the period, indicating a decrease of approximately 24.7%[34] - The net increase in cash and cash equivalents was -92,097,782.49, reflecting a significant cash outflow[34] Shareholder Information - The total number of shareholders reached 22,890 at the end of the reporting period[11] - The largest shareholder, Chen Shibin, holds 28.20% of the shares, with 99,537,682 shares pledged[11] Research and Development - R&D expenses surged by 89.62% to ¥8,324,326.47 from ¥4,390,109.45, reflecting increased investment in research and development activities[14] - Research and development expenses for Q1 2021 were ¥8,324,326.47, an increase from ¥4,390,109.45 in Q1 2020[24] - Research and development expenses increased to RMB 6,854,454.95, representing a 75.5% rise compared to RMB 3,900,379.11 in Q1 2020[27] Government Subsidies and Non-Recurring Items - The company received government subsidies amounting to CNY 817,091.89, which are closely related to its normal operations[8] - Non-recurring gains and losses totaled CNY 1,996,335.43 for the reporting period[9] Operational Costs - Operating costs increased by 53.57% to ¥123,832,437.51 from ¥80,636,900.08, mainly due to higher sales volume of quartz products[14] - Total operating costs for Q1 2021 were ¥157,102,627.29, up 51.7% from ¥103,587,173.94 in Q1 2020[24] Investment Activities - Investment income fell by 56.35% to ¥1,112,994.55 from ¥2,550,004.97, primarily due to reduced returns from financial products maturing during the period[14] - Investment activities resulted in a net cash outflow of RMB 90,728,278.00 in Q1 2021, compared to a net outflow of RMB 13,597,370.48 in Q1 2020[30] Other Financial Metrics - The weighted average return on equity increased by 0.14 percentage points to 2.15%[5] - The company reported a credit impairment loss of ¥-2,405,496.43 in Q1 2021, compared to ¥-944,971.22 in Q1 2020[24] - The company’s cash flow from operating activities remains strong, supporting ongoing investments and operational stability[23]