Eastcompeace(SZ:002017)2021-04-23 16:00Financial Performance - The company's revenue for Q1 2021 was ¥243,569,752.97, representing a 34.68% increase compared to ¥180,848,970.97 in the same period last year[7] - Net profit attributable to shareholders was ¥6,746,097.46, up 42.65% from ¥4,728,964.67 year-on-year[7] - The net profit after deducting non-recurring gains and losses reached ¥7,310,214.55, a significant increase of 69.98% compared to ¥4,300,730.03 in the previous year[7] - Basic earnings per share increased to ¥0.0151, reflecting a 42.45% rise from ¥0.0106 in the previous year[7] - Total profit, net profit, and net profit attributable to shareholders increased by 49.34%, 69.54%, and 42.65% year-on-year, respectively, reflecting improved profitability as operations normalized[17] - The company reported a total comprehensive income of CNY 8,099,551.98, compared to CNY 1,671,092.82 in the prior period[46] Cash Flow - The net cash flow from operating activities was ¥38,297,219.14, a turnaround from a negative cash flow of -¥74,546,903.49 in the same period last year, marking a 151.37% improvement[7] - The net cash flow from operating activities increased by 112.84 million yuan year-on-year, mainly due to increased collections and decreased procurement payments[19] - The cash flow from operating activities generated a net amount of CNY 38,297,219.14, recovering from a negative cash flow of CNY -74,546,903.49 in the previous year[53] - The cash outflow for operating activities was CNY 242,584,005.96, slightly lower than CNY 261,966,616.87 in the previous year[53] - The cash flow from investing activities resulted in a net outflow of CNY -14,797,190.69, compared to a net inflow of CNY 2,285,959.75 in the previous year[53] - The cash flow from financing activities generated a net inflow of CNY 52,047,164.74, up from CNY 20,000,000.00 in the previous year[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,204,537,968.16, a 5.93% increase from ¥2,081,179,370.91 at the end of the previous year[7] - The company's current assets totaled CNY 1,884,991,053.98 as of March 31, 2021, compared to CNY 1,764,187,346.11 at the end of 2020, indicating an increase of about 6.8%[35] - The total liabilities increased to CNY 778,407,449.34 from CNY 663,148,404.06, reflecting a rise of approximately 17.4%[37] - The company's total equity as of March 31, 2021, was CNY 1,426,130,518.82, slightly up from CNY 1,418,030,966.85, reflecting a growth of approximately 0.6%[38] Operational Highlights - The company's operating revenue increased by 34.68% year-on-year, primarily due to the effective control of the domestic COVID-19 pandemic and the restoration of normal operations[17] - Operating costs rose by 36.67% year-on-year, attributed to the same reasons as the revenue increase[17] - The company reported a 96.25% year-on-year decline in other income, mainly due to a decrease in government subsidies related to revenue[17] - The company experienced a 79.01% year-on-year decline in fair value changes, primarily due to foreign exchange fluctuations affecting forward foreign exchange contracts[17] - Credit impairment losses decreased by 33.56% year-on-year, attributed to improved collection of accounts receivable as the pandemic's impact lessened[17] Investments and Projects - The company plans to complete the research and development project based on NB-IoT technology with a total investment of 1,750 million yuan, of which 931.7 million yuan has been invested to date[25] - The smart manufacturing upgrade project has seen 1,109.37 million yuan invested, representing 55.75% of the total planned investment of 8,967.20 million yuan[25] Compliance and Reporting - The first quarter report for 2021 was not audited, which may affect the reliability of the financial data presented[59] - The company did not apply the new leasing standards for the first quarter of 2021, indicating a potential area for future compliance and reporting adjustments[58]