远大控股(000626) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥17,870,174,057.49, representing an increase of 81.80% compared to the same period last year[8]. - The net profit attributable to shareholders was ¥59,136,325.01, a significant turnaround from a loss of ¥163,659,414.65 in the previous year, marking a 136.13% improvement[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥103,662,253.19, compared to a loss of ¥110,663,626.09 last year, reflecting a 193.67% increase[8]. - The basic earnings per share increased to ¥0.12 from a loss of ¥0.30, representing a 140.00% improvement[8]. - The company achieved operating revenue of 17.87 billion yuan, representing a year-on-year growth of 81.80%[33]. - The net profit attributable to shareholders was 59.14 million yuan, an increase of 136.13% year-on-year[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 103.66 million yuan, up 193.67% year-on-year[33]. - The company reported a total comprehensive income for Q1 2021 of ¥85,701,522.39, compared to a loss of ¥121,448,376.34 in the previous year[51]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,108,169,351.87, up 22.59% from the end of the previous year[8]. - The net assets attributable to shareholders increased to ¥2,710,380,114.05, a rise of 2.66% compared to the previous year[8]. - Total liabilities reached ¥5,193,492,612.45, compared to ¥3,796,158,878.80, indicating an increase of around 37%[42]. - The company's total assets amounted to ¥8,108,169,351.87, up from ¥6,614,086,516.44, which is an increase of about 22.5%[43]. - Short-term borrowings surged to ¥952,415,296.48 from ¥327,130,623.79, representing an increase of approximately 191.5%[41]. - The company's total liabilities increased significantly, with accounts payable rising by 36.79% to ¥1,857,796,262.45 due to increased procurement volumes[16]. Cash Flow - The net cash flow from operating activities was negative at -¥217,869,955.55, worsening by 102.32% compared to -¥107,685,253.38 in the same period last year[8]. - The company reported a net cash outflow from operating activities of ¥-217,869,955.55, which is a 102.32% increase in outflow compared to the previous year[17]. - Cash inflows from operating activities amounted to CNY 19.97 billion, up from CNY 11.47 billion in the previous period, representing a growth of approximately 74%[57]. - The net cash flow from investing activities was positive CNY 122.80 million, down from CNY 293.41 million in the previous year[58]. - The net cash flow from financing activities was CNY 527.87 million, compared to CNY 289.19 million in the same period last year, reflecting a growth of approximately 83%[59]. Investments and Subsidiaries - The company signed agreements to acquire 85.12% of Fujian Kaili Biological Products Co., Ltd. and 100% of Liaoning Weike Biological Engineering Co., Ltd.[34]. - The company completed the first phase of performance compensation related to a major asset restructuring, involving the repurchase of 55,759,636 shares[18]. - The second phase of performance compensation was approved, involving the repurchase of 33,934,438 shares, following a judicial ruling on a related case[19]. - The bankruptcy proceedings for the subsidiary, Far East Petrochemical Co., Ltd., are ongoing after it filed for bankruptcy in November 2020[20]. - The company’s subsidiary, Yuanda Petrochemical Co., Ltd., applied for bankruptcy liquidation, indicating potential financial distress within the group[22]. Risk Management - The company has established strict risk management measures for derivative investments, including a stop-loss mechanism to limit losses beyond a certain threshold[26]. - The company’s derivative trading activities are subject to market risks, liquidity risks, credit risks, operational risks, policy risks, and legal risks[26]. - The company’s risk control measures include selecting reputable futures brokerage firms and establishing a comprehensive management process for derivative investments[26]. Research and Development - The company plans to invest 10 million yuan to establish a research and development center in collaboration with the Chinese Academy of Agricultural Sciences[34]. - The first phase of the R&D center will have an incubation fund of 50 million yuan provided by the company or its affiliated agricultural high-tech enterprises[36]. - The company emphasizes innovation in biological pesticide research and development, leveraging partnerships with leading research institutions[36]. - The company aims to continue increasing investments in the agricultural high-tech sector to drive innovation and industrialization[36].