楚江新材(002171) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥7,337,876,264.79, representing an increase of 88.09% compared to the same period last year[8]. - Net profit attributable to shareholders was ¥120,296,657.60, a significant turnaround from a loss of ¥94,163,518.93 in the previous year, marking a growth of 227.75%[8]. - The net profit after deducting non-recurring gains and losses was ¥90,634,548.34, compared to a loss of ¥109,758,312.75 last year, reflecting an increase of 182.58%[8]. - The basic earnings per share rose to ¥0.09 from a loss of ¥0.07, indicating a growth of 228.57%[8]. - Total profit reached ¥149,560,705.23, a 234.57% increase compared to the previous year, driven by project upgrades and improved product structure[26]. - Net profit for the period was ¥128,740,499.95, representing a 241.44% increase year-on-year, attributed to enhanced operational scale and product gross margin[26]. - The company expects a net profit attributable to shareholders of RMB 220 million for the first half of 2021, an increase of 260.08% compared to the same period last year[50]. - Basic earnings per share are projected to be RMB 0.16 for the first half of 2021, reflecting a growth of 220% year-on-year[50]. Assets and Liabilities - The total assets at the end of the reporting period were ¥11,957,861,964.97, up 6.33% from the end of the previous year[8]. - The net assets attributable to shareholders increased to ¥5,874,131,013.80, a rise of 2.13% compared to the previous year[8]. - Total current assets amounted to approximately CNY 7.58 billion, an increase of 8.23% from CNY 7.00 billion as of December 31, 2020[61]. - Total non-current assets reached approximately CNY 4.38 billion, an increase of 3.20% from CNY 4.24 billion[64]. - Total liabilities increased to approximately CNY 5.93 billion, up 10.85% from CNY 5.35 billion[67]. - The company's equity attributable to shareholders increased to approximately CNY 5.87 billion, up from CNY 5.75 billion, a growth of 2.20%[70]. - Long-term borrowings surged by 274.17% to ¥22,450,000.00, reflecting increased financing for technology upgrade projects[23]. Cash Flow - The net cash flow from operating activities was negative at -¥759,208,239.77, worsening by 393.82% from -¥153,740,357.80 in the same period last year[8]. - Cash flow from operating activities showed a negative net amount of ¥-759,208,239.77, a 393.82% decline, primarily due to increased working capital needs from business growth[26]. - The net cash flow from financing activities rose by 235.41% to ¥441,114,319.29, reflecting the company's increased financing scale due to business expansion[29]. - The cash inflow from operating activities totaled 2,178,652,560.14 CNY, a significant increase from 1,143,196,989.85 CNY year-over-year[101]. - The cash outflow from operating activities was 2,785,590,893.11 CNY, significantly higher than 1,432,673,565.59 CNY in the previous period[101]. Research and Development - R&D expenses increased by 128.78% to ¥231,017,274.17, reflecting the company's commitment to product development and optimization[26]. - Research and development expenses increased to ¥61,077,064.02, up from ¥37,633,173.02 in the previous period, indicating a focus on innovation[87]. Shareholder Information - The total number of shareholders at the end of the reporting period was 53,144, with the largest shareholder holding 32.37% of the shares[12]. - The company did not engage in any repurchase transactions during the reporting period[18]. - As of September 8, 2020, the company repurchased a total of 42,811,262 shares, accounting for 3.21% of the total share capital, with a total transaction amount of RMB 279,641,049.60[35]. - The company plans to use its own funds to repurchase shares with a total amount not less than RMB 150 million and not exceeding RMB 300 million, at a price not exceeding RMB 12 per share[35]. Operational Highlights - The company achieved a production and sales scale of 68,100 tons of copper strip and foil in Q1 2021, representing a year-on-year growth of 61.17%[45]. - The company anticipates continued growth in military materials and special equipment orders, contributing to future revenue increases[23]. - The company is progressing well with its military materials and special equipment business, with sufficient orders and continuous improvement in scale and performance[50]. Investment Activities - The company has no securities investments during the reporting period[37]. - The company engaged in derivative investments, including copper, zinc, steel, and tin futures contracts, with initial investment amounts of RMB 25,154.8 thousand, RMB 41.67 thousand, RMB 895.65 thousand, and RMB 26,092 thousand respectively[42]. - The total value of derivative investments at the end of the reporting period was RMB 15,000 thousand, with a loss of RMB 1,268.9 thousand[42]. - The company established a comprehensive risk control system for derivative investments, ensuring strict adherence to approved hedging plans[42]. - The company plans to conduct commodity futures and options hedging business in 2021 to mitigate losses from price fluctuations[44].