WG Tech(SH:603773)2021-04-19 16:00Financial Performance - Operating revenue rose by 79.29% to CNY 188,790,945.05 year-on-year[5] - Net profit attributable to shareholders was CNY 10,905,073.91, a significant recovery from a loss of CNY 6,256,489.09 in the same period last year[5] - Basic earnings per share improved to CNY 0.1153 from a loss of CNY 0.0661 per share in the previous year[5] - The company's net profit for Q1 2021 was ¥10,905,073.91, a significant recovery from a net loss of ¥6,256,489.09 in the same quarter last year[12] - The company's operating profit for Q1 2021 was CNY 12,607,305.43, compared to an operating loss of CNY 3,959,768.56 in Q1 2020[26] - The total profit for Q1 2021 was CNY 12,694,510.45, compared to a total loss of CNY 4,970,197.47 in Q1 2020, marking a turnaround in financial performance[26] Assets and Liabilities - Total assets increased by 1.98% to CNY 2,052,479,712.73 compared to the end of the previous year[5] - The total assets of the company as of March 31, 2021, amounted to ¥2,052,479,712.73, compared to ¥2,012,544,176.06 at the end of the previous year[16] - Total liabilities increased to ¥500,034,965.17 in Q1 2021 from ¥404,335,653.20 in Q1 2020, marking an increase of approximately 23.7%[20] - The company’s total liabilities amounted to CNY 386,928,598.28, remaining stable compared to the previous year[35] - Total assets reached CNY 1,886,356,714.00, with current assets totaling CNY 661,071,476.30[39] Cash Flow - Net cash flow from operating activities decreased by 235.23% to -CNY 92,212,795.73 compared to the same period last year[5] - The company's cash flow from operating activities showed a significant decline, with a net outflow of ¥92,212,795.73 compared to an inflow of ¥68,189,912.16 in the previous year, mainly due to increased cash payments for goods purchased[12] - The cash flow from operating activities for Q1 2021 was negative at CNY -92,212,795.73, compared to a positive cash flow of CNY 68,189,912.16 in Q1 2020[28] - The net cash flow from operating activities was negative at CNY -55,754,219.18, compared to a positive CNY 73,272,735.86 in the same period last year[32] Shareholder Information - The total number of shareholders reached 13,878 by the end of the reporting period[9] - The largest shareholder, Yi Weihua, holds 27.31% of the shares, with 18,930,000 shares pledged[9] Research and Development - Research and development expenses rose by 66.23% to ¥9,700,518.03, compared to ¥5,835,449.41 in the previous year, reflecting increased investment in R&D[12] - Research and development expenses increased to CNY 9,700,518.03 in Q1 2021, up from CNY 5,835,449.41 in Q1 2020, reflecting a growth of 66.5%[25] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 876,650.74[8] - Non-recurring gains and losses totaled CNY 837,489.53 for the period[8] - The company reported a significant increase in other income, which rose by 417.02% to ¥302,460.21, compared to ¥58,501.11 in the previous year, primarily due to increased compensation received[12] - The financial asset impairment loss for Q1 2021 was CNY 319,249.21, a significant improvement from a loss of CNY 4,545,773.72 in Q1 2020[26] - The company reported a decrease in sales expenses to CNY 9,981,427.11 in Q1 2021 from CNY 5,276,099.72 in Q1 2020, indicating a strategic cost management approach[25] Inventory and Accounts Receivable - Inventory increased by 56.14% to ¥34,089,084.28, up from ¥21,832,383.17, due to higher order volumes and raw material stockpiling[12] - Accounts receivable increased to ¥300,113,933.55 in Q1 2021 from ¥240,042,601.03 in Q4 2020, representing an increase of about 25.0%[19] - Inventory levels rose to ¥29,174,233.45 in Q1 2021, compared to ¥20,845,254.76 in Q4 2020, indicating an increase of approximately 39.5%[19] Financing Activities - The company secured CNY 200,000,000.00 in cash from financing activities, a substantial increase from CNY 30,000,000.00 in Q1 2020[32] - The net cash flow from financing activities was CNY 22,355,009.23, compared to CNY 28,998,066.67 in the previous year, indicating a decrease of approximately 23%[32]