WPG(SH:603956)2021-04-28 16:00Financial Performance - Net profit attributable to shareholders was CNY 13,719,115.28, a significant recovery from a loss of CNY 24,355,525.12 in the same period last year[9] - Operating revenue increased by 83.49% to CNY 148,971,981.88 compared to CNY 81,190,010.60 in the previous year[9] - Basic and diluted earnings per share were both CNY 0.03, recovering from a loss of CNY 0.06 in the previous year[9] - The company reported a total of CNY 11,002,712.41 in non-recurring gains and losses for the period[10] - The total comprehensive income for Q1 2021 was CNY 13,554,660.87, compared to a total comprehensive loss of CNY -24,474,764.47 in Q1 2020[33] - The company's operating revenue for Q1 2021 was CNY 146,676,657.05, a 84.5% increase from CNY 79,522,688.55 in Q1 2020[35] - The net profit for Q1 2021 was ¥13,554,660.87, a turnaround from a net loss of ¥24,474,764.47 in Q1 2020[32] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 95,235,627.73, worsening from -CNY 81,732,118.71 year-on-year[9] - The company's cash flow from operating activities showed a net outflow of RMB -95,235,627.73, compared to RMB -81,732,118.71 in the previous period[18] - The company's cash inflow from operating activities for Q1 2021 was CNY 222,153,165.13, a significant increase of 91.5% compared to CNY 115,964,453.05 in Q1 2020[40] - The net cash flow from operating activities was negative at CNY -98,943,923.95, slightly worse than the previous year's negative cash flow of CNY -93,063,956.04[40] - Cash outflow from investing activities totaled CNY 26,456,134.74, down from CNY 48,812,166.36 in Q1 2020, resulting in a net cash flow from investing activities of CNY -25,447,310.03[40] - The company reported a cash outflow from financing activities of CNY 84,216,409.46, with no cash inflow recorded in this category[40] Assets and Liabilities - Total assets decreased by 7.04% to CNY 2,067,838,906.50 compared to the end of the previous year[9] - The company's current assets totaled CNY 1,444,659,743.47, down from CNY 1,643,465,604.88, indicating a decrease of about 12.09%[27] - The company's total liabilities were CNY 814,352,081.08, down from CNY 903,836,136.81, reflecting a decrease of approximately 9.89%[29] - The total equity attributable to shareholders was CNY 1,250,444,511.38, down from CNY 1,318,760,319.68, indicating a decline of about 5.19%[29] - The company's total liabilities decreased to ¥851,048,074.61 as of March 31, 2021, from ¥944,547,526.85 at the end of 2020, reflecting a reduction of 9.9%[31] - The total assets of the company amounted to ¥2,056,378,116.86 as of March 31, 2021, compared to ¥2,214,437,087.85 at the end of 2020, a decrease of 7.1%[31] Shareholder Information - The total number of shareholders reached 11,470 at the end of the reporting period[11] - The largest shareholder, Li Jixi, holds 58.36% of the shares, with 248,577,000 shares pledged[11] Research and Development - Research and development expenses increased by 38.69% to RMB 17,230,515.44 from RMB 12,423,858.97, reflecting increased investment in R&D projects[16] - Research and development expenses for Q1 2021 were ¥17,230,515.44, an increase of 38.2% compared to ¥12,423,858.97 in Q1 2020[32] Other Financial Metrics - Government subsidies recognized in the current period amounted to CNY 11,747,829.40, contributing positively to the financial results[10] - The company reported a 380.76% increase in other income, amounting to RMB 15,022,258.85, primarily due to increased government subsidies received[16] - The company incurred a financial expense of CNY 1,620,100.72 in interest costs during Q1 2021, compared to CNY 51,320.85 in the previous year[35] - The company reported a credit impairment loss of ¥3,135,882.56 in Q1 2021, compared to a gain of ¥1,523,191.01 in Q1 2020[32] Investment and Expansion Plans - The company plans to invest a total of RMB 200,000 million in constructing a smart water supply R&D base in the Su-Xi-Tong Technology Industrial Park, with the project divided into two phases[20] - The company executed the new leasing standards starting from 2021, which may impact future financial reporting and cash flow management[41] - The company continues to focus on expanding its operational capabilities and improving cash flow management strategies in the upcoming quarters[43]