HDXY(SZ:002002)2021-04-29 16:00Financial Performance - The company's revenue for Q1 2021 was CNY 1,641,570,535.95, representing a 13.83% increase compared to CNY 1,442,090,846.51 in the same period last year[7]. - Net profit attributable to shareholders was CNY 269,424,148.29, a 41.13% increase from CNY 190,903,628.85 year-over-year[7]. - The net profit after deducting non-recurring gains and losses was CNY 259,284,519.59, up 37.33% from CNY 188,797,702.99 in the previous year[7]. - Basic earnings per share increased by 34.10% to CNY 0.0987 from CNY 0.0736[7]. - Diluted earnings per share rose by 19.29% to CNY 0.0878 compared to CNY 0.0736 in the previous year[7]. - The company's operating profit increased by 45.59% to ¥317,041,437.83, driven by higher sales prices of main products[16]. - Net profit attributable to the parent company rose by 41.13% to ¥269,424,148.29, also due to increased sales prices[16]. - Basic earnings per share increased by 34.11% to ¥0.0987, reflecting improved profitability[16]. - The company reported a net profit for Q1 2021 of CNY 273,439,604.29, representing a 43.49% increase from CNY 190,572,601.59 in Q1 2020[51]. - Earnings per share (EPS) for Q1 2021 was CNY 0.0987, compared to CNY 0.0736 in the previous year, marking a 33.86% increase[52]. Cash Flow - The net cash flow from operating activities was CNY 3,874,489.83, a significant recovery from a negative cash flow of CNY -776,280,574.66 in the same period last year[7]. - Cash inflow from operating activities was 1,868,527,703.68 CNY, an increase from 1,524,201,485.04 CNY year-on-year[58]. - Cash outflow from operating activities totaled 1,864,653,213.85 CNY, down from 2,300,482,059.70 CNY in the previous year[59]. - The company reported a decrease in cash outflow for other operating activities to 461,753,175.84 CNY from 713,032,539.60 CNY year-on-year[59]. - Cash flow from financing activities generated a net inflow of 16,960,995.01 CNY, improving from -238,734,237.46 CNY year-on-year[60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,993,617,963.10, a slight increase of 0.49% from CNY 17,906,726,515.69 at the end of the previous year[7]. - Total liabilities decreased to CNY 9,284,703,628.22 from CNY 10,393,753,129.76, a reduction of approximately 10.66%[43]. - The company's equity attributable to shareholders rose to CNY 8,644,042,289.60 from CNY 7,452,116,796.65, reflecting an increase of about 16.00%[44]. - Total current assets amounted to CNY 5,274,180,319.62 as of December 31, 2020[66]. - Total non-current assets reached CNY 12,632,546,196.07 as of December 31, 2020[66]. - The total liabilities to equity ratio was approximately 1.39 as of the end of the first quarter of 2021[67]. Strategic Initiatives - The company is exploring strategic partnerships in the hydrogen liquefaction field with Air Liquide and Japan's Toho Gas, focusing on technology and economic analysis[18]. - The company signed a cooperation agreement with Beijing Aerospace Test Technology Research Institute for hydrogen liquefaction projects and related infrastructure construction[19]. - The company is collaborating with Youyan Engineering Technology Research Institute to develop low-cost, high-performance rare earth hydrogen storage materials[19]. - The company has established a strategic cooperation agreement with the government of Wuhai City to prioritize the use of its hydrogen products in local projects[19]. - The company is investing in the construction of hydrogen refueling stations and hydrogen economy demonstration projects in Wuhai City[19]. - The company has signed a project cooperation intention agreement with Xiongchuan Hydrogen Energy Technology (Guangzhou) Co., Ltd. for hydrogen refueling station investment and operation[19]. - The company is enhancing its research and development capabilities in hydrogen energy technologies[19]. - The company signed a hydrogen supply service agreement with Ulaanbaatar Public Transport Co., providing hydrogen and refueling services for fuel cell buses and vehicles[20]. Research and Development - The company is collaborating with Asahi Kasei Corporation to develop ion exchange membrane electrolysis technology for hydrogen production[20]. - The company has signed a technology transfer contract with the Changchun Institute of Applied Chemistry, introducing rare earth patent technologies[20]. - The company is developing third-generation rare earth hydrogen storage materials to further enhance storage capacity[20]. - The company introduced second-generation rare earth hydrogen storage materials and improved hydrogen storage capacity[20]. Capital and Financing - The company raised a total of approximately ¥1.215 billion through a non-public stock issuance, with a net amount of ¥1.181 billion after deducting issuance costs[26]. - The funds from the non-public issuance are allocated for soil remediation projects, PVC ecological houses, and repayment of bank loans, with ¥617.53 million for soil remediation and ¥367.81 million for other projects[26]. - The total amount of funds raised through the convertible bonds was RMB 2,426,780,000, with net proceeds after underwriting fees amounting to RMB 2,415,459,245.28[28]. - The balance of the raised funds at the end of the reporting period is RMB 90,942.25 million, with RMB 84,835 million temporarily allocated for working capital[28]. Future Projections - The net profit attributable to shareholders for Q1 2021 is projected to be between RMB 60,000,000 and RMB 75,000,000, representing a growth of 80.74% to 125.93% compared to the previous year[30]. - The basic earnings per share for Q1 2021 is expected to be between RMB 0.2092 and RMB 0.2615, indicating an increase of 63.16% to 103.96% year-on-year[30]. - The company anticipates that the market price of its main product, PVC resin, has increased compared to the same period last year, contributing to the expected growth in performance[30].