Succeeder(SH:688338)2021-04-19 16:00Financial Performance - Operating revenue for the year-to-date was ¥50,843,046.14, representing a 58.45% increase year-on-year[6]. - Net profit attributable to shareholders was ¥19,451,138.70, a significant increase of 451.46% compared to the same period last year[6]. - Basic and diluted earnings per share were both ¥0.24, reflecting a 300% increase year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥19,344,242.74, an increase of 196.98% year-on-year[6]. - The company reported a total comprehensive income of ¥19,451,138.70 for Q1 2021, compared to ¥3,527,198.52 in Q1 2020, highlighting strong financial performance[34]. - The net profit for Q1 2021 reached ¥19,725,881.11, a significant increase from ¥3,352,107.92 in Q1 2020, marking a growth of approximately 487%[35]. - The operating profit for Q1 2021 was ¥22,937,581.80, compared to ¥7,562,842.98 in Q1 2020, indicating a year-over-year increase of about 203%[35]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,420,928,668.29, an increase of 1.39% compared to the end of the previous year[6]. - The company’s total liabilities decreased by 58.74% in accounts receivable financing, down to ¥502,137.90, mainly due to the maturity of bank acceptance bills[14]. - Total liabilities were ¥45,325,505.62, showing a slight increase from ¥45,312,936.30 at the end of 2020[25]. - The total current assets decreased by 153,701.84 RMB, totaling 1,327,774,197.54 RMB[44]. - The company reported a total equity of 1,356,152,023.97 RMB, unchanged from the previous year[46]. - Total liabilities reached $94,243,107.00, reflecting a decrease of $6,085,906.30[50]. Cash Flow - Net cash flow from operating activities was ¥5,615,737.00, a recovery from a negative cash flow of ¥10,916,233.02 in the previous year[6]. - The company reported a net cash flow from operating activities of ¥5,615,737.00 in Q1 2021, a turnaround from a negative cash flow of ¥10,916,233.02 in Q1 2020[39]. - The cash inflow from operating activities totaled ¥63,950,201.16 in Q1 2021, compared to ¥39,378,594.13 in Q1 2020, showing improved operational efficiency[39]. - The net cash flow from financing activities was -424,528.30 RMB, indicating a cash outflow[43]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,753[11]. - The largest shareholder, Wu Shiming, holds 34.66% of the shares, totaling 28,298,431 shares[11]. Expenses - The cost of goods sold increased by 45.12%, amounting to ¥19,507,128.16, driven by the rise in operating revenue[15]. - Research and development expenses increased by 38.71% to ¥4,124,300.79, reflecting higher personnel costs and product registration fees[15]. - The company reported a 394.33% increase in income tax expenses, totaling ¥3,212,740.98, due to higher operating profits[16]. - The company’s management expenses rose by 35.10% to ¥3,019,415.55, driven by an increase in personnel and intermediary fees[16]. - The company incurred financial expenses of -¥7,344,804.98 in Q1 2021, compared to -¥2,321,449.34 in Q1 2020, indicating a change in financial strategy[35]. Government Subsidies - The company received government subsidies amounting to ¥125,909.09, which are closely related to its normal business operations[10]. Accounting Changes - The company adopted a new leasing standard starting January 1, 2021, resulting in an increase of right-of-use assets by 6,239,608.14 RMB and lease liabilities by 6,085,906.30 RMB[47]. - The company adopted the revised Accounting Standards for Leases starting January 1, 2021, resulting in an increase of $6,239,608.14 in right-of-use assets[51].