BOSUN(SZ:002282)2021-04-19 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥385,660,148.03, representing a 72.65% increase compared to ¥223,374,757.15 in the same period last year[9] - Net profit attributable to shareholders for Q1 2021 was ¥58,083,367.81, a significant increase of 133.26% from ¥24,901,159.38 in the previous year[9] - The net profit after deducting non-recurring gains and losses was ¥55,284,185.12, up 144.97% from ¥22,567,926.76 year-on-year[9] - The net cash flow from operating activities reached ¥28,000,118.02, a remarkable turnaround from a negative cash flow of -¥15,623,194.51 in the same period last year, marking a 279.22% improvement[9] - Basic earnings per share increased to ¥0.11, an 83.33% rise from ¥0.06 in the previous year[9] - Operating revenue reached ¥385,660,148.03, reflecting a 72.65% year-over-year growth driven by the increase in sales of coated abrasives and the consolidation of Haiwei Locomotive[16] - Net profit for the period was ¥58,639,439.12, marking a 136.96% increase compared to the same period last year[16] - The total profit for the period was ¥73,263,050.68, reflecting a 134.00% increase year-over-year, influenced by the growth in coated abrasives profit and the consolidation of Haiwei Locomotive[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,917,033,269.30, reflecting a 12.05% increase from ¥3,495,822,661.67 at the end of the previous year[9] - Net assets attributable to shareholders rose to ¥3,273,968,795.10, a 20.56% increase from ¥2,715,642,024.27 at the end of the previous year[9] - The company's total assets increased significantly, with cash and cash equivalents up by 194.28% primarily from fundraising activities[16] - The total assets increased to CNY 3,258,881,034.68 from CNY 2,870,507,719.99, reflecting a growth of about 13.5%[42] - The total liabilities decreased to CNY 357,436,833.25 from CNY 475,737,149.97, showing a reduction of approximately 25%[42] - The company's equity totaled 2,743,479,426.50 CNY, with a slight adjustment of -57,352.63 CNY in retained earnings[62] Cash Flow - The company's cash and cash equivalents increased to ¥518,573,820.25, a 270.65% rise due to funds raised from issuing shares[17] - Cash flow from operating activities generated a net amount of ¥28,000,118.02, a recovery from a negative cash flow of -¥15,623,194.51 in the previous period[54] - The net cash flow from investment activities was -5,010,715.97 CNY, compared to a positive cash flow of 5,502,118.16 CNY in the previous year[58] - The net cash flow from financing activities was 293,261,971.83 CNY, a significant increase from -41,398,955.53 CNY in the same period last year[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,996, with the top ten shareholders holding significant stakes[12] - The company did not engage in any repurchase transactions during the reporting period[13] Research and Development - Research and development expenses rose to ¥14,575,608.10, a 56.44% increase due to higher investment in R&D and changes in the scope of consolidation[16] - Research and development expenses for the quarter were CNY 14,575,608.10, compared to CNY 9,317,179.04 in the previous year, indicating an increase of approximately 56.5%[45] Future Projections - The company expects a significant increase in net profit attributable to shareholders, projecting RMB 9,436.15 million for the first half of 2021, representing a growth of 90.00% compared to the previous year[26] - The basic earnings per share are anticipated to rise to between RMB 0.18 and RMB 0.11, reflecting an increase of 60.32% to 127.82% year-on-year[26] - The company plans to continue strong sales in coated abrasives and diamond tools, contributing to improved profitability in the second quarter[26] Governance and Risk Management - The company plans to improve its governance and management structures in response to operational challenges posed by the COVID-19 pandemic[31] - The company has established strict risk control measures for foreign exchange hedging to mitigate exchange rate fluctuations[22] - The company has no significant risks related to the entrusted wealth management, with no overdue amounts reported[29] - There are no violations regarding external guarantees during the reporting period[30] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[30] Compliance and Standards - The implementation of the new leasing standards resulted in the recognition of right-of-use assets and lease liabilities, impacting the financial statements[63] - The company adjusted its financial statements to comply with the new leasing standards, affecting both current and non-current asset and liability classifications[62] - The company recognized a right-of-use asset of CNY 6,148,529.67 and a lease liability of CNY 6,107,747.99 as of March 31, 2021, reflecting the impact of the new leasing standard[68] Challenges - The company is currently facing challenges in the industrialization of its high-speed train brake pad project, which has not yet been fully realized[31] - The introduction of Shandong Iron Investment is aimed at enhancing the company's strategic development and potential future shareholding increases[31] - The company is actively pursuing mergers and acquisitions to bolster its rail transit business development[31]