ABT Networks(SH:688168)2021-04-27 16:00Financial Performance - Operating revenue for the first quarter reached CNY 43.95 million, representing an increase of 86.21% year-on-year[5]. - Net profit attributable to shareholders was CNY 3.82 million, a significant recovery from a loss of CNY 1.81 million in the same period last year[5]. - The weighted average return on net assets improved to 0.37%, compared to -0.18% in the previous year[5]. - Basic and diluted earnings per share were both CNY 0.07, recovering from a loss of CNY 0.04 per share in the same period last year[5]. - The company reported a significant increase in other income, which rose by 327.68% to CNY 6,287,792.09, mainly from tax refunds[15]. - The total comprehensive income for Q1 2021 was CNY 3,855,241.31, compared to a loss of CNY 1,948,251.67 in Q1 2020[32]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.13 billion, a decrease of 1.01% compared to the end of the previous year[5]. - The total assets as of March 31, 2021, were CNY 1,133,438,605.66, a slight decrease from CNY 1,145,058,888.71 at the end of 2020[21]. - Total liabilities as of March 31, 2021, were CNY 144,753,231.22, down from CNY 156,959,586.41 at the end of 2020[26]. - The total equity attributable to shareholders as of March 31, 2021, was CNY 936,796,757.25, slightly down from CNY 938,728,664.40 at the end of 2020[26]. Cash Flow - The company reported a cash flow from operating activities of -CNY 6.37 million, an improvement from -CNY 17.77 million in the same period last year[5]. - The net cash flow from operating activities improved to CNY -6,369,498.50, a significant reduction from CNY -17,766,811.68 in the previous year[16]. - The company generated CNY 99,866,784.52 in cash inflows from operating activities, compared to CNY 56,842,281.07 in Q1 2020[35]. - The cash inflow from investment activities totaled CNY 120,949,525.85, while cash outflow was CNY 150,115,875.00, resulting in a net cash flow of -CNY 29,166,349.15[37]. - The net increase in cash and cash equivalents for the period was -CNY 31,207,916.05, compared to -CNY 15,525,472.92 in Q1 2020[39]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,306[9]. - The top shareholder, Zhong Zhu, held 26.30% of the shares, amounting to 13,460,000 shares[9]. Research and Development - Research and development expenses accounted for 34.89% of operating revenue, a decrease of 1.14 percentage points compared to the previous year[5]. - Research and development expenses increased by 80.36% to CNY 15,335,567.69, attributed to a rise in personnel and salary costs[15]. - Research and development expenses for Q1 2021 were CNY 15,335,567.69, up from CNY 8,502,936.54 in Q1 2020, indicating an increase of about 80%[29]. - The company incurred research and development expenses of CNY 8,764,276.01, up from CNY 4,116,737.75 in the previous year, indicating a focus on innovation[32]. Borrowings and Financing - Short-term borrowings increased by 47.45% to CNY 62,046,949.00, driven by operational financing needs[13]. - The company raised CNY 36,126,922.00 through borrowings in Q1 2021, compared to CNY 1,149,587.00 in Q1 2020, reflecting increased financing activities[36]. Other Financial Metrics - Non-recurring gains and losses for the period totaled CNY 1.26 million, including government subsidies and other income[7]. - The company reported a credit impairment loss of CNY 8,044,378.41 in Q1 2021, compared to a reversal of CNY 5,249,099.77 in Q1 2020[29]. - Payments to employees increased to CNY 18,598,041.51 from CNY 11,831,657.44, reflecting a rise of 57.4%[37]. - The company made an investment payment of CNY 150,000,000.00 during the quarter, indicating a significant capital allocation strategy[37].