Primeton(SH:688118)2021-04-21 16:00Financial Performance - Operating revenue increased by 96.19% to CNY 39,050,885.13 compared to the same period last year[6] - Net profit attributable to shareholders was a loss of CNY 9,954,157.34, an improvement from a loss of CNY 23,218,633.30 in the previous year[6] - The net cash flow from operating activities improved significantly, with a net outflow of CNY 48,326,677.93 compared to a net outflow of CNY 78,563,494.27 in the same period last year[6] - Total operating revenue for Q1 2021 was CNY 39,050,885.13, a 96.1% increase from CNY 19,904,209.32 in Q1 2020[32] - Net loss for Q1 2021 was CNY -9,954,157.34, an improvement compared to a net loss of CNY -23,218,633.30 in Q1 2020, reflecting a 57.2% reduction in losses[34] - The total comprehensive loss for Q1 2021 was ¥3,623,435.02, compared to a loss of ¥23,528,952.48 in Q1 2020, reflecting a positive trend[36] Assets and Liabilities - Total assets decreased by 3.56% to CNY 1,050,670,417.21 compared to the end of the previous year[6] - The company's total liabilities decreased from CNY 111,470,228.16 at the end of 2020 to CNY 82,590,582.84 as of March 31, 2021, representing a reduction of approximately 26%[27] - The company's accounts receivable decreased from CNY 199,484,066.60 at the end of 2020 to CNY 183,541,862.30 as of March 31, 2021, a decline of about 7.98%[25] - The company's inventory increased significantly from CNY 23,882,108.31 at the end of 2020 to CNY 46,563,076.25 as of March 31, 2021, reflecting an increase of approximately 95.73%[25] - Total assets decreased to CNY 1,183,928,550.98 from CNY 1,224,648,267.84, a decline of 3.3%[30] - Total liabilities decreased to CNY 206,669,872.45 from CNY 243,778,970.05, a reduction of 15.2%[30] Cash Flow - The net cash flow from operating activities improved by ¥30,236,816.34, reaching -¥48,326,677.93, primarily due to increased sales receipts[15] - The net cash flow from operating activities was -¥48,326,677.93 in Q1 2021, an improvement from -¥78,563,494.27 in Q1 2020[38] - Cash inflow from operating activities was $76,981,975.28, compared to $40,244,914.14 in Q1 2020, representing an increase of 91.3%[41] - The net cash flow from investment activities was $57,505,928.87 in Q1 2021, compared to -$7,656,346.12 in Q1 2020, indicating a positive turnaround[42] - The net increase in cash and cash equivalents for Q1 2021 was $6,573,204.65, contrasting with a decrease of $97,597,672.66 in Q1 2020[42] Shareholder Information - The number of shareholders at the end of the reporting period was 5,009[10] - The top shareholder, Liu Yadong, holds 23.87% of the shares, totaling 22,771,802 shares[10] Research and Development - R&D expenditure accounted for 32.46% of operating revenue, a decrease of 28.33 percentage points from the previous year[6] - Research and development expenses for Q1 2021 were CNY 12,676,888.28, slightly up from CNY 12,099,140.91 in Q1 2020, indicating continued investment in innovation[32] - Research and development expenses increased to ¥12,676,888.30 in Q1 2021, up from ¥10,591,397.86 in Q1 2020, indicating a focus on innovation[35] Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 41,995.37 during the reporting period[8] - The total non-recurring gains and losses amounted to CNY 2,556,554.27 for the period[8] Corporate Actions - The company has initiated a stock incentive plan, granting 4.65 million restricted shares at a price of ¥21.00 per share[16] - The company plans to repurchase shares with a total amount between ¥20 million and ¥30 million, with a maximum repurchase price of ¥30.00 per share[17] - The company decided to terminate the major asset restructuring transaction due to failure to reach consensus on key terms with the transaction parties, ensuring the protection of investor interests[21] Risks and Future Outlook - The company anticipates a risk of cumulative net profit loss from the beginning of the year to the end of the next reporting period, primarily due to significant seasonal revenue fluctuations[22]