Accotest(SH:688200)2021-04-14 16:00Financial Performance - Operating income for the period was ¥115,821,774.38, representing a year-on-year growth of 35.61%[17] - Net profit attributable to shareholders of the listed company was ¥26,813,085.34, a decrease of 25.16% compared to the same period last year[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥41,163,524.65, up 24.43% year-on-year[17] - Basic earnings per share decreased to ¥0.44, down 37.14% from ¥0.70 in the same period last year[17] - The weighted average return on net assets was 1.25%, a decrease of 66.84% compared to the previous year[17] - Revenue for the period reached ¥115,821,774.38, a 35.61% increase compared to the previous year[31] - Total profit for Q1 2021 was CNY 33,225,635.06, down from CNY 44,752,542.96 in Q1 2020, representing a decrease of about 26%[53] - Net profit for Q1 2021 was CNY 26,813,085.34, down from CNY 35,825,165.34 in Q1 2020, indicating a decrease of about 25%[55] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,341,677,928.31, an increase of 3.16% compared to the end of the previous year[17] - Total assets amounted to ¥2,341,677,928.31, up from ¥2,270,047,443.56 in the previous year[39] - The company's total assets as of March 31, 2021, were ¥2,343,980,712.89, compared to ¥2,260,986,459.23 at the end of 2020[47] - The total liabilities as of March 31, 2021, were ¥265,918,604.83, an increase from ¥191,005,112.63 in the previous year[47] - Shareholders' equity totaled ¥2,078,062,108.06, up from ¥2,069,981,346.60 at the end of 2020[49] Cash Flow - Net cash flow from operating activities increased significantly to ¥21,799,019.83, up 130.99% year-on-year[17] - Cash inflow from operating activities for Q1 2021 was approximately ¥156.61 million, a significant increase from ¥82.79 million in Q1 2020, representing a growth of 89%[63] - Net cash flow from operating activities for Q1 2021 was ¥21.80 million, compared to ¥9.44 million in Q1 2020, indicating a year-over-year increase of 130%[63] - Total cash inflow from investment activities in Q1 2021 reached ¥959.20 million, while cash outflow was ¥897.16 million, resulting in a net cash flow of ¥62.05 million[68] - The total cash and cash equivalents at the end of Q1 2021 amounted to ¥449.52 million, an increase from ¥428.58 million at the end of Q1 2020[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 4,960[28] - The top ten shareholders held a total of 68.42% of the shares, with Tianjin Xinhua Investment Holding Co., Ltd. being the largest shareholder at 29.79%[28] Research and Development - The proportion of R&D investment to operating income rose to 17.04%, an increase of 67.72% compared to the previous year[17] - Research and development expenses soared by 127.40% to ¥19,738,719.82, indicating increased investment in innovation[31] - R&D expenses in Q1 2021 amounted to ¥19,738,719.82, significantly increasing by 127.0% compared to ¥8,680,265.33 in Q1 2020[49] - Research and development expenses increased to CNY 13,567,937.67 in Q1 2021, up from CNY 6,619,154.59 in Q1 2020, marking a rise of about 105%[56] Accounts and Inventory - Accounts receivable increased by 41.72% to ¥129,617,920.16, primarily due to revenue growth during the reporting period[31] - Accounts receivable rose to ¥129,724,423.65, compared to ¥91,575,428.67 in Q1 2020, indicating improved sales performance[47] - Inventory rose by 55.86% to ¥108,850,184.52 as production and stocking efforts intensified[31] - Inventory increased to ¥109,585,128.04 from ¥66,507,929.03 in the previous year, reflecting potential growth in production or sales[47] Other Financial Metrics - Trading financial assets decreased by 40.29% to ¥578,800,765.59 due to the decline in fair value of privately placed stocks[31] - Prepayments surged by 28,456.93% to ¥256,541,440.19, attributed to building construction[31] - Contract liabilities increased by 103.43% to ¥82,040,965.72, reflecting growth in the main business during the reporting period[31] - Employee compensation payable decreased by 55.76% to ¥14,527,541.69, mainly due to last year's year-end bonuses[31] - Tax payable increased by 40.75% to ¥12,104,977.82, driven by growth in sales revenue[31] - Financial expenses, including interest expenses, were CNY -5,975,638.70 in Q1 2021, compared to CNY -3,014,342.70 in Q1 2020, indicating an increase in financial costs[56] - Tax expenses for Q1 2021 were CNY 6,412,549.72, compared to CNY 8,927,377.62 in Q1 2020, indicating a decrease of approximately 28%[53] - The company experienced a credit impairment loss of CNY -1,931,439.58 in Q1 2021, compared to a loss of CNY -1,385,104.04 in Q1 2020, reflecting an increase in credit risk[53]