Quechen Company(605183)2021-04-27 16:00Financial Performance - Operating revenue for the reporting period was CNY 338,395,298.18, representing a growth of 43.50% year-on-year[11]. - Net profit attributable to shareholders was CNY 67,004,025.28, an increase of 88.99% compared to the same period last year[11]. - Basic earnings per share increased to CNY 0.16, a rise of 62% compared to the previous year[11]. - The company reported a total profit of approximately ¥81.99 million for Q1 2021, compared to ¥43.88 million in Q1 2020, marking an increase of 87.0%[47]. - Net profit for Q1 2021 reached approximately ¥67.00 million, representing an increase of 89.2% compared to ¥35.45 million in Q1 2020[47]. - The company reported a net profit margin improvement, with undistributed profits rising to ¥1,095,104,782.62 from ¥1,037,697,079.56, an increase of about 5.5%[38]. Cash Flow - Net cash flow from operating activities was CNY 105,793,529.47, up 109.06% year-on-year[11]. - The net cash flow from operating activities was RMB 105,793,529.47, significantly up from RMB 50,603,685.56 in the same period last year, marking a 108.5% increase[58]. - The total cash outflow from operating activities was RMB 158,863,630.55, down 36.2% from RMB 249,010,501.54 in Q1 2020[58]. - The cash outflow for purchasing goods and services was RMB 87,729,484.19, down 51.6% from RMB 181,257,679.36 in the same quarter last year[58]. - The company recorded a financial expense of approximately -¥3.82 million in Q1 2021, compared to -¥3.18 million in Q1 2020[44]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,840,342,524.51, an increase of 4.80% compared to the end of the previous year[11]. - Total liabilities increased to ¥382,283,473.24, up from ¥310,519,562.87, representing a growth of approximately 23.1%[33]. - Total equity rose to ¥2,458,059,051.27, compared to ¥2,399,810,358.57, reflecting an increase of about 2.4%[33]. - Current assets totaled ¥1,836,153,609.05, an increase from ¥1,720,955,543.44, marking a growth of approximately 6.7%[37]. - Accounts receivable increased to ¥349,276,387.88 from ¥301,809,916.35, showing a rise of about 15.7%[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 24,312[14]. - The top shareholder, Huawei International Development Limited, holds 59.86% of the shares[14]. Operating Costs and Expenses - The company's operating costs rose by 53.18% to ¥233,920,732.06, attributed to increased sales volume and the pandemic's effects in the previous year[20]. - The company's sales expenses decreased significantly by 93.13% to ¥987,271.72, as sales freight was reclassified to operating costs[20]. - Research and development expenses increased to approximately ¥11.39 million in Q1 2021, up 64.1% from ¥6.91 million in Q1 2020[44]. Other Income and Expenses - The company received government subsidies amounting to CNY 4,128,326.93 related to its normal business operations[13]. - Non-operating income and expenses totaled CNY 3,011,316.78 after tax effects[13]. - The company's other income rose by 104.92% to ¥1,347,704.31, mainly due to an increase in tax refunds[20]. - The company's credit impairment losses increased by 266.71% to -¥1,402,972.59, primarily due to an increase in accounts receivable and higher bad debt provisions[20].