HIGHLY(SH:900910)2021-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 3.82 billion, a 60.13% increase year-on-year[6] - Net profit attributable to shareholders was CNY 39.25 million, up 27.47% from the same period last year[6] - The company reported a basic earnings per share of CNY 0.04, unchanged from the previous year[6] - The company reported a total revenue of RMB 3.821 billion, representing a year-on-year growth of 60.13%, and a net profit attributable to shareholders of RMB 39 million, up 27.47%[25] - The net profit for Q1 2021 reached ¥51,868,568.32, up 26.3% from ¥41,029,270.40 in Q1 2020[42] - The company reported a net profit margin improvement, with net profit for Q1 2021 reflecting a positive trend compared to the previous year, although specific figures were not disclosed[40] Assets and Liabilities - Total assets increased by 25.59% to CNY 18.77 billion compared to the end of the previous year[6] - The company's total liabilities as of March 31, 2021, amounted to ¥12,674,585,514.06, compared to ¥9,481,875,714.37 at the end of 2020, indicating a 33.1% increase[38] - Total assets as of March 31, 2021, were ¥18,772,820,144.23, up from ¥14,947,903,638.64 at the end of 2020, representing a growth of 25.5%[35] - The company's equity attributable to shareholders increased to ¥4,529,588,798.57 from ¥4,510,572,071.02, a slight increase of 0.4%[35] - The company reported a total current liability of RMB 10.385 billion as of March 31, 2021, compared to RMB 8.053 billion at the end of 2020[33] Cash Flow - The net cash flow from operating activities was CNY -729.83 million, showing an improvement compared to CNY -878.20 million in the previous year[6] - In Q1 2021, the cash inflow from operating activities was CNY 2,909,412,584.11, an increase of 40.5% compared to CNY 2,069,680,287.72 in Q1 2020[47] - The net cash flow from operating activities was -CNY 729,834,560.12, an improvement from -CNY 878,199,369.47 in the same period last year[47] - Cash inflow from financing activities reached CNY 2,430,382,491.44, up 217.5% from CNY 765,102,495.58 in Q1 2020[48] - The cash outflow from investing activities was CNY 1,052,932,379.63, compared to CNY 212,243,613.01 in Q1 2020, reflecting increased investment activities[48] Shareholder Information - The total number of shareholders reached 45,258, with the top ten shareholders holding significant stakes[10][11] - Shanghai Electric Group holds the largest share at 23.97%, followed by Gree Electric Appliances at 10.21%[11] Operational Efficiency and Market Strategy - The company is focused on improving operational efficiency and exploring new market opportunities[13] - The company is exploring market expansion strategies and new product development to sustain growth momentum in the upcoming quarters[40] Inventory and Receivables - Accounts receivable increased by 47.86% and financing receivables increased by 58.26%, driven by significant growth in sales of compressors and motors as the domestic economy continued to recover[16] - Inventory rose by 44.03%, also attributed to the consolidation of Hailima Ruili[16] - Prepayments increased by 67.74%, mainly due to higher advance payments for raw material purchases[16] - Other receivables surged by 344.91%, primarily due to the consolidation of Hailima Ruili Holdings[16] Acquisitions and Investments - The company completed the acquisition of Marelli Corporation, which has been consolidated since February 2021, enhancing its capabilities in automotive air conditioning systems[26] - The company plans to issue up to 264,990,076 A-shares to raise no more than RMB 1.594 billion, with the approval from the China Securities Regulatory Commission received on March 10, 2021[27] Financial Management - Financial expenses decreased to ¥25,512,762.09 in Q1 2021 from ¥32,005,153.28 in Q1 2020, primarily due to lower interest expenses[41] - Research and development expenses for Q1 2021 were ¥100,406,035.80, slightly down from ¥102,658,428.63 in Q1 2020, indicating a focus on cost management[40] - The company experienced a significant increase in management expenses, which rose to ¥14,284,979.90 in Q1 2021 from ¥6,387,753.00 in Q1 2020[44]