Swancor Advanced Materials (SH:688585)2021-04-29 16:00Financial Performance - Operating revenue for the year-to-date was CNY 429,819,237.76, representing an increase of 82.80% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 14,582,098.84, a decrease of 300.20% compared to the same period last year[5] - Basic earnings per share were CNY -0.04, a decrease of 300% compared to CNY 0.02 in the previous year[5] - The company's total operating revenue for Q1 2021 was ¥164,748,690.08, a significant increase of 210.5% compared to ¥53,102,640.95 in Q1 2020[35] - The net profit for Q1 2021 was ¥1,839,792.19, down from ¥2,009,316.59 in Q1 2020, representing a decrease of 8.5%[36] Cash Flow - Cash flow from operating activities was a negative CNY 121,000,487.44, an increase in outflow of 341.53% year-on-year[5] - Cash outflow for purchasing goods and services was CNY 157,548,944.38, a 71.72% increase due to increased inventory and payments for previous quarter's purchases[16] - Cash outflow for other operating activities was CNY 31,718,305.86, a 58.42% increase attributed to rising manufacturing and operating expenses due to increased revenue[16] - The cash flow from tax refunds increased by 76.24% to ¥3,374,669.99, compared to ¥1,914,866.19 in Q1 2020, driven by higher sales revenue[15] - The net cash flow from operating activities for Q1 2021 was -18,639,779.91 RMB, a significant decline compared to -4,263,091.89 RMB in Q1 2020, representing a year-over-year decrease of approximately 338%[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,936,652,664.11, a decrease of 2.58% compared to the end of the previous year[5] - Total current assets as of March 31, 2021, were CNY 1,664,416,147.34, a decrease from CNY 1,726,171,912.13 at the end of 2020[22] - Total liabilities as of March 31, 2021, were CNY 916,564,804.44, compared to CNY 923,400,893.38 at the end of 2020[24] - The company's total assets as of March 31, 2021, were ¥1,346,890,844.31, down from ¥1,382,619,434.72 at the end of 2020[28] - The total liabilities as of March 31, 2021, were ¥486,980,400.79, compared to ¥493,108,608.02 at the end of 2020, showing a decrease of about 1%[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,630[12] - The largest shareholder, SWANCOR IND. CO., LTD., held 64.04% of the shares[12] Research and Development - Research and development expenses accounted for 1.68% of operating revenue, a decrease of 0.75 percentage points[7] - Research and development expenses for Q1 2021 amounted to ¥7,204,855.72, an increase from ¥5,709,230.75 in Q1 2020, reflecting a growth of approximately 26%[31] Financial Expenses - The company's financial expenses increased significantly to ¥3,971,232.14 from a negative amount in the previous year, due to bill discounts and exchange losses[15] Other Income and Expenses - The company reported a non-operating income of CNY 8,304.58, primarily from investment income[10] - The company recognized other income of ¥33,082.84 in Q1 2021, compared to none in Q1 2020, mainly from tax refunds[15] Cash and Cash Equivalents - The company reported cash and cash equivalents at the end of Q1 2021 of ¥107,879,994.63, down from ¥87,543,971.18 at the end of Q1 2020[40] - The company's cash and cash equivalents decreased by 46.75% to ¥131,472,831.81 from ¥246,912,555.33, mainly due to payments for procurement[14] Changes in Equity - The company's retained earnings decreased to ¥83,127,063.21 as of March 31, 2021, from ¥113,543,271.02 at the end of 2020, a decline of about 27%[29] - The total equity attributable to shareholders was ¥859,910,443.52 as of March 31, 2021, down from ¥889,510,826.70 at the end of 2020, indicating a decrease of approximately 3%[29] Other Financial Metrics - The weighted average return on net assets decreased by 2.22 percentage points to -1.38%[5] - Management expenses rose by 39.46% to ¥16,700,686.28, up from ¥11,975,464.49, due to staff expansion and increased labor costs[15]