VEICHI(SH:688698)2021-04-27 16:00Financial Performance - Net profit attributable to shareholders increased by 114.67% year-on-year, amounting to ¥21,240,625.53, driven by increased operating income[12] - Operating income for the period was ¥168,811,287.38, representing a significant increase of 119.76% compared to the same period last year[12] - Basic and diluted earnings per share rose by 71.43% to ¥0.12, reflecting the growth in net profit attributable to shareholders[15] - The company reported a net profit excluding non-recurring gains and losses of ¥19,349,918.53, an increase of 113.53% year-on-year[15] - Net profit for Q1 2021 reached ¥21,240,625.53, an increase of 114.67% compared to ¥9,894,621.54 in Q1 2020, primarily due to increased operating income and profit growth[29] - Total operating revenue for Q1 2021 reached ¥168,811,287.38, a significant increase of 120% compared to ¥76,814,695.96 in Q1 2020[51] - The company's total revenue for Q1 2021 was approximately CNY 166.98 million, a significant increase from CNY 77.18 million in Q1 2020, representing a growth of 116.5%[56] - The net profit for Q1 2021 reached CNY 20.57 million, compared to CNY 10.27 million in Q1 2020, indicating an increase of 100.5%[58] Cash Flow - The net cash flow from operating activities was negative at -¥21,100,864.36, compared to -¥6,464,353.05 in the same period last year[12] - Cash flow from operating activities showed a net outflow of ¥21,100,864.36, a significant increase in payments to suppliers and personnel compared to ¥6,464,353.05 in Q1 2020[29] - Cash flow from investing activities resulted in a net outflow of ¥386,062,207.23, primarily due to cash management of raised funds from 2020[29] - Cash flow from financing activities also showed a net outflow of ¥26,110,358.33, mainly due to repayment of bank loans and payment of IPO intermediary service fees[29] - Operating cash inflows totaled $73,704,655.85, a significant increase from $43,111,270.92 in the previous period, reflecting a growth of approximately 70.9%[62] - Operating cash outflows amounted to $94,805,520.21, compared to $49,575,623.97 previously, indicating an increase of about 91.1%[62] - Net cash flow from investment activities was -$386,162,207.23, compared to a positive flow of $12,094,115.18 in the previous period[68] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,114,478,582.24, an increase of 3.62% compared to the end of the previous year[12] - Total current assets decreased to ¥842,565,880.98 from ¥962,723,228.05 at the end of 2020, with cash and cash equivalents significantly reduced[35] - Total liabilities increased to ¥330,391,016.88 from ¥312,449,853.11, indicating a rise in financial obligations[40] - Shareholders' equity increased to ¥784,087,565.36 from ¥763,069,662.48, reflecting retained earnings growth[40] - Total liabilities increased to ¥329,981,018.57 from ¥312,229,123.14, indicating a growth of approximately 6%[45] Research and Development - The proportion of R&D investment to operating income decreased to 9.42%, down by 0.6 percentage points from the previous year[12] - Research and development expenses rose by 106.70% to ¥15,907,258.49 from ¥7,695,783.21, reflecting increased investment in R&D[26] - Research and development expenses in Q1 2021 amounted to ¥15,907,258.49, nearly double the ¥7,695,783.21 spent in Q1 2020[51] - Research and development expenses for Q1 2021 amounted to CNY 15.91 million, which is a 106.5% increase from CNY 7.70 million in Q1 2020[56] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,222[17] - The largest shareholder, Shenzhen Weichuang Electric Co., Ltd., held 69.44% of the shares[17] Inventory and Receivables - Accounts receivable increased by 32.40% to ¥190,342,111.64 from ¥143,767,535.11, driven by growth in operating revenue[23] - Inventory increased by 30.91% to ¥192,715,687.38 from ¥147,213,150.39, due to higher material reserves and finished goods[23] - Accounts receivable increased to ¥190,342,111.64 from ¥143,767,535.11, indicating a rise in credit sales[35] - Inventory levels rose to ¥192,715,687.38 from ¥147,213,150.39, reflecting increased stock levels[35]