Shenli(SH:603819)2021-04-28 16:00Financial Performance - Operating revenue rose by 29.05% to CNY 290,411,485.88 year-on-year[7] - Net profit attributable to shareholders decreased by 149.30% to a loss of CNY 2,261,752.78 compared to the same period last year[7] - Basic earnings per share dropped by 133.33% to -CNY 0.01[8] - The company reported a net loss from non-recurring gains and losses of CNY 3,291,976.66, a decrease of 505.61% year-on-year[7] - The net profit for Q1 2021 was a loss of CNY 3,923,452.70, compared to a profit of CNY 4,587,308.25 in Q1 2020, indicating a decline in profitability[29] - The gross profit margin decreased, with operating profit for Q1 2021 at -CNY 3,585,299.95, down from CNY 6,495,076.81 in Q1 2020[29] - The company reported a basic and diluted earnings per share of -CNY 0.01 for Q1 2021, down from CNY 0.03 in Q1 2020[30] - The company experienced a credit impairment loss of -CNY 1,772,075.38 in Q1 2021, contrasting with a gain of CNY 260,879.95 in Q1 2020, highlighting challenges in asset quality[27] Assets and Liabilities - Total assets increased by 19.30% to CNY 1,630,485,837.66 compared to the end of the previous year[7] - Current assets totaled ¥976,227,866.56, up from ¥865,913,602.60, indicating an increase of about 12.8%[19] - Total liabilities reached ¥788,271,253.01, compared to ¥620,044,416.88, showing an increase of about 27.1%[21] - Total liabilities increased to CNY 740,847,036.71 in Q1 2021 from CNY 614,877,460.11 in Q1 2020, indicating a rise in financial obligations[27] - The company's equity increased to ¥842,214,584.65 from ¥746,623,041.11, representing a growth of approximately 12.8%[21] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 107,424,098.10, compared to a net outflow of CNY 23,135,509.37 in the previous year[7] - Operating cash flow for Q1 2021 was negative at CNY -107,424,098.10, compared to CNY -23,135,509.37 in Q1 2020, indicating a worsening cash flow situation[33] - The net cash flow from financing activities in Q1 2021 was CNY 70,239,382.24, an increase from CNY 46,858,972.38 in Q1 2020, showing a growth of about 50%[34] - The company raised CNY 248,000,000.00 through borrowings in Q1 2021, compared to CNY 90,000,000.00 in Q1 2020, indicating a significant increase in financing activities[34] - The company reported a total cash outflow from investing activities of CNY 160,610,994.80 in Q1 2021, compared to CNY 10,045,329.93 in Q1 2020, reflecting a substantial increase in investment expenditures[34] Shareholder Information - The total number of shareholders reached 8,245[12] - The largest shareholder, Chen Zhongwei, holds 36.20% of the shares, with 26,000,000 shares pledged[12] Expenses - Sales expenses increased by 132.06% to ¥12,716,745.64 from ¥5,479,965.68, mainly due to the inclusion of expenses from the acquired business[15] - Financial expenses rose by 103.06% to ¥5,839,905.73 from ¥2,875,960.92, resulting from increased borrowing[15] - The company incurred total operating expenses of CNY 315,698,441.05 in Q1 2021, compared to CNY 171,905,217.11 in Q1 2020, marking an increase of approximately 83%[33] Inventory and Receivables - Accounts receivable increased by 33.06% to ¥388,023,802.40 from ¥291,609,473.71, attributed to extended customer credit periods amid intense market competition[14] - Inventory rose by 46.58% to ¥243,801,071.13 from ¥166,325,008.18, driven by increased stocking due to soaring silicon steel prices[14] - Other receivables surged by 681.78% to ¥9,552,178.15 from ¥1,221,856.15, primarily due to the consolidation of a subsidiary[14] Government Support - Government subsidies recognized in the current period amounted to CNY 4,161,743.85[9] Goodwill and Acquisitions - The company reported goodwill of ¥182,631,053.68, resulting from the premium paid in the acquisition of a subsidiary[14] Regulatory Changes - The company implemented the new leasing standards effective January 1, 2021, with no impact on financial statement items, thus no retrospective adjustments were necessary[37] - The company confirmed that the new leasing standards do not apply to prior comparative data, indicating a smooth transition to the new regulations[37] - The audit report for the first quarter of 2021 is not applicable, suggesting no significant issues were identified during the review[37]