HARSON(SH:603958)2021-04-27 16:00Financial Performance - Operating revenue increased by 13.60% to CNY 245,836,589.92 compared to the same period last year[12] - Net profit attributable to shareholders of the listed company was CNY 8,679,887.90, a significant recovery from a loss of CNY 1,344,452.61 in the previous year[12] - The company recorded a significant reduction in asset impairment losses by 80.13% to CNY 2,524,845.69 compared to the previous year[12] - Government subsidies recognized in the current period amounted to CNY 941,234.97, contributing positively to the financial results[7] - Total operating revenue for Q1 2021 was CNY 245,836,589.92, an increase of 13.6% compared to CNY 216,396,617.11 in Q1 2020[27] - Net profit for Q1 2021 reached CNY 8,675,762.99, compared to a net loss of CNY 1,992,784.63 in Q1 2020, indicating a significant turnaround[28] - Earnings per share for Q1 2021 were CNY 0.040, compared to a loss per share of CNY 0.006 in Q1 2020[28] - The total comprehensive income for Q1 2021 was ¥10,689,812.87, down from ¥19,761,722.28 in Q1 2020[31] Cash Flow - Cash flow from operating activities improved, with a net cash flow of CNY -21,010,500.29, an improvement from CNY -46,126,095.88 in the same period last year[5] - The net cash flow from operating activities for Q1 2021 was -21,010,500.29 RMB, an improvement from -46,126,095.88 RMB in Q1 2020, primarily due to a decrease in payments for goods[13] - The company reported a significant decrease in accounts receivable from CNY 157,195,105.21 in Q1 2020 to CNY 111,740,733.09 in Q1 2021, a drop of 29.0%[22] - The company's cash outflow for operating activities totaled ¥275,981,614.79 in Q1 2021, compared to ¥297,878,682.61 in Q1 2020[34] - In Q1 2021, the company's operating cash flow generated a net amount of ¥30,861,168.98, a significant improvement compared to a net outflow of ¥14,070,502.74 in Q1 2020, marking a turnaround of over 218%[35] - Total cash inflow from operating activities was ¥237,952,890.44, up from ¥213,944,789.75 in the same period last year, representing an increase of approximately 11.2%[35] Assets and Liabilities - Total assets decreased by 5.80% to CNY 1,091,013,986.95 compared to the end of the previous year[5] - Total liabilities decreased to 108,950,247.56 RMB from 184,770,113.83 RMB, showing a significant reduction of about 41%[20] - The company's equity attributable to shareholders increased to 982,033,119.24 RMB from 973,353,231.34 RMB, showing a slight increase of about 0.7%[20] - As of March 31, 2021, total current assets amounted to 884,943,046.28 RMB, down from 946,573,608.10 RMB as of December 31, 2020[18] - The company's cash and cash equivalents decreased to 354,237,748.64 RMB from 410,060,548.03 RMB at the end of 2020, reflecting a decline of approximately 13.6%[18] - Accounts receivable decreased to 59,211,405.82 RMB from 71,967,049.90 RMB, indicating a reduction of about 17.7%[18] - Inventory as of March 31, 2021, was 390,507,423.27 RMB, down from 423,189,503.07 RMB, representing a decrease of approximately 7.7%[18] Management and Operational Changes - Management expenses decreased by 43.26% to CNY 6,928,133.99, primarily due to reduced management costs from a deregistered subsidiary[12] - The company has completed the deregistration of certain subsidiaries, which may impact future operational efficiency and financial performance[14] Investment Activities - The net cash flow from investing activities for Q1 2021 was -34,813,772.11 RMB, significantly improved from -220,524,269.12 RMB in Q1 2020, mainly due to a reduction in purchases of entrusted financial products[14] - The company reported cash inflow from investment activities of ¥20,094,640.00 in Q1 2021, compared to ¥618,727.91 in Q1 2020[34] - The company received ¥20,000,000 in cash from investment recoveries during Q1 2021, which was not reported in the previous year[35] - The total cash inflow from investment activities was ¥20,055,240.00, a significant increase from ¥513,727.91 in Q1 2020[35]