HitGen(688222)2021-04-28 16:00Financial Performance - Operating revenue rose by 56.79% to CNY 69,164,316.00 year-on-year[5] - Net profit attributable to shareholders decreased by 33.85% to CNY 5,781,934.11 compared to the same period last year[5] - Basic earnings per share dropped by 50.00% to CNY 0.01 compared to the previous year[5] - Net profit increased by 61.99% to CNY 5,781,934.11 compared to the same period last year, despite the negative impact from the integration of two new UK subsidiaries[15] - Comprehensive income for Q1 2021 totaled CNY 11,129,768.46, compared to CNY 8,364,450.33 in Q1 2020, reflecting an increase of 32.9%[25] - Net profit for Q1 2021 was CNY 5,781,934.11, a decrease of 33.5% from CNY 8,740,267.66 in Q1 2020[25] Cash Flow - The net cash flow from operating activities was CNY 14,094,598.87, a significant improvement from a negative cash flow of CNY -1,897,162.63 in the previous year[5] - Cash flow from operating activities reached CNY 14,094,598.87, a significant improvement from a negative cash flow of CNY -1,897,162.63 in Q1 2020[15] - Cash flow from financing activities improved to CNY -745,785.04 from CNY -5,224,241.78 in Q1 2020, reflecting reduced IPO-related payments[15] Assets and Liabilities - Total assets increased by 2.89% to CNY 1,695,639,358.72 compared to the end of the previous year[5] - The total assets as of March 31, 2021, amounted to CNY 1,695,639,358.72, up from CNY 1,648,005,753.49 at the end of 2020[18] - The total liabilities increased to CNY 407,695,135.23 from CNY 370,075,489.20 at the end of 2020[18] - The company's deferred tax assets decreased by 61.59% to RMB 1,414,997.46, mainly due to profits in Q1 2021 offsetting previously recognized losses[13] - The accounts payable increased by 56.06% to RMB 14,609,507.20, primarily due to increased technical service fees owed by Vernalis[13] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,696[10] - The top shareholder, JIN LI, holds 20.43% of the shares, totaling 81,876,948 shares[11] Research and Development - R&D investment as a percentage of operating revenue decreased by 30.09 percentage points to 20.63%[5] - Research and development expenses decreased by 36.22% to RMB 14,270,243.49, reflecting a shift in focus away from self-developed projects[14] - Research and development expenses for Q1 2021 were CNY 14,270,243.49, down 36.3% from CNY 22,375,778.77 in Q1 2020[24] Operating Costs - Operating costs surged to RMB 35,783,045.16, a 322.85% increase from RMB 8,462,383.89 in the previous year, attributed to a shift towards commercial projects and lower gross margins from Vernalis[14] - Total operating costs for Q1 2021 were CNY 68,611,515.30, up 96.7% from CNY 34,858,761.09 in Q1 2020[24] Other Income and Expenses - Non-recurring gains and losses totaled CNY 2,928,158.85 for the period[9] - The company recognized other income of RMB 3,054,359.81, an 85.87% increase, mainly due to government subsidies received by Vernalis during the reporting period[14] - The financial expenses for Q1 2021 showed a notable increase in interest expenses, which reached RMB 896,516.99, a 506.13% rise compared to RMB 147,907.32 in the previous year[14] Equity - The company's equity attributable to shareholders rose to CNY 1,287,944,223.49, compared to CNY 1,277,930,264.29 at the end of 2020[18]