IRON TECH(SH:688329)2021-04-29 16:00Financial Performance - Operating revenue surged by 293.50% to CNY 39,949,459.16 compared to the same period last year[5] - Net profit attributable to shareholders reached CNY 5,894,796.45, a significant recovery from a loss of CNY 6,904,286.29 in the previous year[5] - The company reported an operating profit of ¥5,620,032.34 for Q1 2021, a turnaround from an operating loss of ¥7,824,375.82 in Q1 2020[23] - The net profit for Q1 2021 reached CNY 7,719,452.96, compared to a net loss of CNY 6,494,583.10 in the same period last year, marking a turnaround[26] - The total comprehensive income for Q1 2021 was CNY 7,357,956.13, compared to a loss of CNY 6,617,591.42 in Q1 2020[27] Assets and Liabilities - Total assets increased by 34.57% to CNY 1,071,133,160.03 compared to the end of the previous year[5] - The total assets as of March 31, 2021, amounted to ¥1,071,133,160.03, compared to ¥795,961,547.06 at the end of 2020, indicating growth in asset base[14] - The company's total liabilities decreased slightly to ¥304,168,422.96 in Q1 2021 from ¥307,168,877.94 in Q4 2020[20] - Total liabilities reached $307.17 million, including current liabilities of $251.65 million[40] Shareholder Information - Net assets attributable to shareholders rose by 61.45% to CNY 735,438,869.90 year-over-year[5] - The number of shareholders reached 9,986, with the top ten shareholders holding significant stakes[7] - Shareholders' equity increased to ¥723,302,239.06 in Q1 2021, up from ¥441,567,790.41 at the end of 2020, representing a growth of 63.8%[20] Cash Flow - Cash flow from operating activities improved to -CNY 5,974,945.98 from -CNY 15,516,824.03 year-over-year[5] - Cash inflows from operating activities amounted to CNY 97,643,895.27 in Q1 2021, up from CNY 50,246,007.12 in Q1 2020[29] - The total cash inflow from operating activities was ¥105,512,567.39 in Q1 2021, significantly higher than ¥41,591,343.97 in Q1 2020[32] Research and Development - R&D expenditure as a percentage of operating revenue decreased by 38.76 percentage points to 18.39%[5] - The company’s R&D expenses for Q1 2021 were ¥7,345,579.98, compared to ¥5,802,242.70 in Q1 2020, reflecting a year-over-year increase of 26.6%[23] - The company reported a decrease in credit impairment losses to CNY 54,227.03 in Q1 2021 from CNY 1,072,797.59 in Q1 2020[26] Financing Activities - The company received government subsidies amounting to CNY 292,612.68 during the reporting period[7] - Total cash inflow from financing activities reached ¥304,965,010.70 in Q1 2021, compared to ¥36,584,283.56 in Q1 2020, indicating a substantial increase in financing[32] - The cash flow from financing activities netted ¥273,806,687.66 in Q1 2021, compared to ¥28,300,202.20 in Q1 2020, reflecting a strong financing position[33] Investment and Capital Expenditure - Cash paid for purchasing fixed assets and other long-term assets was ¥18,102,852.60, up 119.07% from ¥8,263,685.57 in Q1 2020, reflecting increased investment in projects[11] - The company secured a project for an integrated intelligent storage and distribution system at the Kunshan Western Medical Center, with a bid amount of ¥48,866,500, exceeding 10% of the previous year's audited revenue[11] Financial Expenses - The company's financial expenses showed a significant decrease, reporting a gain of ¥816,884.31 compared to a loss of ¥344,518.93 in the previous year, attributed to increased exchange gains[10] - The company incurred financial expenses of CNY -880,665.91 in Q1 2021, a decrease from CNY 363,122.21 in Q1 2020[26] New Leasing Standards - The implementation of the new leasing standard began on January 1, 2021, affecting the recognition of right-of-use assets and lease liabilities[37] - The company implemented new leasing standards effective January 1, 2021, impacting asset and liability adjustments[42] - The cumulative impact of the new leasing standards adjusted the beginning retained earnings without affecting the profit and cash flow statements[42]