Yongjin Technology (SH:603995)2021-04-26 16:00Financial Performance - Operating revenue surged by 97.19% to CNY 6,265,519,619.76 year-on-year[18] - Net profit attributable to shareholders rose by 107.66% to CNY 111,186,940.29 compared to the same period last year[18] - Basic earnings per share increased by 108.70% to CNY 0.48 compared to CNY 0.23 in the same period last year[18] - The total profit for Q1 2021 was ¥167,070,998.64, an increase of 90.5% from ¥87,589,436.44 in Q1 2020[57] - Net profit for Q1 2021 was ¥132,063,444.45, reflecting a 101.11% year-over-year growth from ¥65,668,218.88 in Q1 2020[34] Assets and Liabilities - Total assets increased by 9.72% to CNY 6,809,740,737.80 compared to the end of the previous year[18] - The company's total liabilities increased significantly, with accounts payable rising by 36.44% to ¥402,786,515.80 from ¥295,210,385.86[30] - Total liabilities increased to CNY 3,061,533,635.69, up from CNY 2,596,542,226.98, representing a growth of approximately 17.9%[45] - Non-current assets increased to CNY 1,958,015,600.63, up from CNY 1,722,916,432.47, showing a growth of around 13.6%[49] - Current assets decreased to CNY 899,309,081.60 from CNY 927,901,711.04, indicating a decline of approximately 3.1%[49] Cash Flow - Net cash flow from operating activities was negative at CNY -124,681,973.35, worsening from CNY -81,300,542.93 in the previous year[18] - The net cash flow from investing activities dropped by 352.83% to -$403.23 million, attributed to increased investment in construction projects and reduced financial recoveries[37] - The net cash flow from financing activities improved to $146.98 million from -$84.80 million in the previous year, mainly due to increased bank borrowings[37] - Cash inflows from operating activities amounted to CNY 6,965,323,678.23, a significant increase from CNY 3,466,619,684.87 year-over-year[62] - The ending cash and cash equivalents balance was CNY 655,628,917.61, down from CNY 1,196,364,880.42 year-over-year[67] Shareholder Information - The total number of shareholders reached 9,905 by the end of the reporting period[24] - The largest shareholder, Yu Ji Qun, holds 25.83% of the shares, totaling 60,180,000 shares[24] - The company completed the registration of a stock incentive plan on January 8, 2021, aimed at motivating key personnel[37] Investment and Development - The company plans to continue expanding its market presence and invest in new product development[18] - Research and development expenses for Q1 2021 were ¥62,346,745.97, a 36.00% increase from ¥45,842,223.33 in Q1 2020, reflecting growth in R&D projects[34] - A 51% equity acquisition agreement was signed for Jiangsu Yinyang Stainless Steel Pipe Industry Co., Ltd. on March 28, 2021, indicating ongoing market expansion efforts[37] Financial Ratios and Returns - The weighted average return on net assets improved by 1.64 percentage points to 3.47%[18] - The company's retained earnings increased to CNY 1,589,538,083.72 from CNY 1,478,351,143.43, reflecting a growth of about 7.5%[45] - Total equity attributable to shareholders rose to CNY 3,263,914,063.51, compared to CNY 3,146,796,370.40, reflecting an increase of about 3.7%[45] Expenses - Total operating costs for Q1 2021 were ¥6,103,110,492.74, up 96.7% from ¥3,097,233,674.97 in Q1 2020[55] - Sales expenses for Q1 2021 were ¥56,024,381.82, up 95.0% from ¥28,781,857.85 in Q1 2020[55] - Management expenses for Q1 2021 reached ¥28,990,653.52, a rise of 154.0% compared to ¥11,357,443.14 in Q1 2020[55] Other Financial Information - The company received government subsidies amounting to CNY 7,755,931.01 during the reporting period[21] - The company received CNY 17,241,906.26 in tax refunds, compared to CNY 3,550,728.50 in the previous year[65] - The company paid CNY 87,811,387.69 in employee compensation, an increase from CNY 48,336,366.41 in the same period last year[65]