CHERVON-AUTO(SH:603982)2021-04-29 16:00Financial Performance - Operating revenue rose by 72.27% to CNY 423,014,832.01 year-on-year[6] - Net profit attributable to shareholders increased by 285.11% to CNY 47,246,155.75 compared to the same period last year[6] - The company has seen a significant increase in net profit, with a year-on-year growth of 349.14% in net profit after deducting non-recurring gains and losses[6] - Basic earnings per share rose by 285.32% to CNY 0.2362 per share[7] - Total operating revenue for Q1 2021 was CNY 423,014,832.01, representing a 72.3% increase from CNY 245,547,836.06 in Q1 2020[29] - Net profit for Q1 2021 reached CNY 47,246,155.75, a significant increase of 285.5% compared to CNY 12,268,311.79 in Q1 2020[30] - Basic earnings per share for Q1 2021 were CNY 0.2362, compared to CNY 0.0613 in Q1 2020[31] - The total comprehensive income for Q1 2021 was CNY 46,405,472.05, compared to CNY 12,296,203.81 in Q1 2020, indicating a growth of approximately 278%[34] Assets and Liabilities - Total assets increased by 4.15% to CNY 2,323,901,233.26 compared to the end of the previous year[6] - The total liabilities of the company were CNY 716,771,073.30 as of March 31, 2021, compared to CNY 671,646,449.19 at the end of 2020, representing an increase of about 6.7%[23] - The company's equity attributable to shareholders rose to CNY 1,607,130,159.96 from CNY 1,559,749,836.90, reflecting an increase of approximately 3.0%[23] - The company's total assets as of Q1 2021 were CNY 2,324,777,369.75, compared to CNY 2,231,494,269.84 in Q1 2020[27] - Total liabilities as of Q1 2021 were CNY 717,299,221.95, an increase from CNY 671,671,391.88 in the previous year[27] Cash Flow - Cash flow from operating activities decreased by 107.05% to -CNY 2,363,510.11, indicating a significant cash outflow[6] - Cash inflow from operating activities totaled CNY 423,776,595.79 in Q1 2021, compared to CNY 358,579,458.00 in Q1 2020, marking an increase of about 18%[35] - Cash outflow from operating activities was CNY 426,140,105.90 in Q1 2021, compared to CNY 325,066,489.00 in Q1 2020, representing an increase of approximately 31%[36] - The net cash flow from operating activities was -2,363,510.11 RMB, a significant decrease compared to 33,512,969.00 RMB in the previous year, indicating a decline of approximately 107.05%[39] - Cash inflow from financing activities increased to 140,250,000.00 RMB, compared to 40,700,000.00 RMB in the previous year, marking an increase of approximately 244.66%[39] Investments and Expenditures - The company plans to invest approximately ¥2.05 billion in the automotive parts intelligent manufacturing project in Ma'anshan, Anhui Province[17] - The company reported a net cash outflow from investing activities of ¥154,089,054.99, significantly higher than the outflow of ¥5,986,317.95 in the previous year[16] - The company reported a significant increase in cash outflow for capital expenditures, totaling 88,051,724.37 RMB, compared to 5,986,317.95 RMB in the previous year, an increase of approximately 1,372.73%[39] Shareholder Information - The total number of shareholders reached 21,580 at the end of the reporting period[10] - The largest shareholder, Quan Feng Precision Technology Holdings Co., Ltd., holds 35.75% of the shares, with 72,000,000 shares pledged[10] Research and Development - R&D expenses rose to ¥28,328,552.51, a 72.57% increase from ¥16,415,971.22, reflecting increased investment in research and development[16] - Research and development expenses in Q1 2021 amounted to CNY 28,328,552.51, which is a 72.5% increase from CNY 16,415,971.22 in Q1 2020[29] Changes in Financial Position - The company implemented new leasing standards starting January 1, 2021, which resulted in adjustments to the financial statements[44] - The company implemented a new lease accounting standard effective January 1, 2021, resulting in adjustments to right-of-use assets and lease liabilities[49]