COFC(SZ:000798)2021-04-21 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥91,270,878.32, representing a 42.80% increase compared to ¥63,915,429.62 in the same period last year[8]. - The net profit attributable to shareholders was -¥18,714,764.35, compared to -¥12,317,209.03 in the previous year, indicating a worsening performance[8]. - The net cash flow from operating activities was -¥20,531,263.64, slightly improved from -¥22,280,162.82 year-on-year[8]. - The weighted average return on net assets was -3.12%, down from -1.62% in the previous year, reflecting a decline in profitability[8]. - The company reported a net profit loss of 14.4 million yuan for the year 2016, failing to meet performance commitments[19]. - In 2017, the company recorded a net profit loss of 7.57 million yuan, also not achieving the promised performance[19]. - The company anticipates a potential significant change in net profit for the first half of 2021 compared to the previous year[22]. - The total comprehensive loss for Q1 2021 was CNY 19,464,833.28, compared to a loss of CNY 11,015,794.32 in Q1 2020, marking an increase in losses of 76.5%[35]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,119,511,461.92, a decrease of 1.88% from ¥1,140,954,212.64 at the end of the previous year[8]. - The net assets attributable to shareholders decreased by 3.04% to ¥589,980,472.90 from ¥608,479,568.23 at the end of the previous year[8]. - Total liabilities were CNY 488,414,160.23, a slight decrease from CNY 490,392,077.67, reflecting a reduction of about 0.4%[31]. - The company's total liabilities as of the end of Q1 2021 were CNY 456,636,858.73, slightly down from CNY 464,321,570.98 at the end of the previous period[34]. - The total equity of the company decreased to CNY 631,441,272.12 from CNY 644,993,111.26, reflecting a decline of 2.1%[34]. Cash Flow - Cash and cash equivalents decreased by 19% to ¥58.50 million, primarily due to net cash outflow from operating activities[15]. - The net cash flow from investing activities was -¥2,292,063.46, compared to -¥26,219,154.88 in the previous year, indicating a significant reduction in cash outflow[40]. - The net cash flow from financing activities was ¥9,438,360.17, down from ¥23,264,267.94 in Q1 2020[40]. - The company reported a total cash inflow from operating activities of ¥122,802,616.11, compared to ¥103,923,106.00 in the previous year[39]. - The cash outflow for purchasing goods and services was ¥95,074,887.26, an increase from ¥78,525,826.90 in Q1 2020[39]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,187[11]. - The top three shareholders held a combined 59.18% of the shares, with China Agricultural Development Group holding 25.36%[11]. - The controlling shareholder, China Agricultural Development Group, has committed to avoid competition with the company and is working on integrating its fishing projects[20]. Operational Challenges - The company has faced significant operational challenges due to the bankruptcy of a subsidiary, which has impacted its overall performance[20]. - The company is actively pursuing the completion of commitments made by its controlling shareholder regarding asset injections and project integrations[20]. - The company has been in communication with investors regarding its performance and future strategies, including transformation and upgrades[26]. Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥1,607,911.29, which included government subsidies and other income[9]. - Financial expenses increased by 1072% to ¥3.89 million, mainly due to higher interest expenses and exchange losses[15]. - Sales expenses decreased by 43% to ¥1.96 million, largely due to reduced packaging, agency, and air freight costs amid the pandemic[15]. - Investment income for Q1 2021 was CNY 530,651.79, down from CNY 945,935.86 in the previous year, indicating a decline of 43.8%[34]. - The company did not engage in any repurchase transactions during the reporting period[12].