TQCC(SZ:002523)2021-04-23 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥197,741,336.93, representing a 113.52% increase compared to ¥92,609,695.61 in the same period last year[8] - The net profit attributable to shareholders was ¥7,240,556.91, a significant turnaround from a loss of ¥5,696,661.91, marking a 229.19% improvement[8] - The basic earnings per share increased to ¥0.005 from a loss of ¥0.004, reflecting a 225.00% increase[8] - The total operating revenue for Q1 2021 was CNY 197,741,336.93, compared to CNY 92,609,695.61 in the same period last year, indicating a significant increase[42] - The net profit for the first quarter of 2021 reached CNY 5,328,546.42, compared to a net loss of CNY 7,452,643.07 in the previous year, indicating a turnaround in profitability[44] - The operating profit for the first quarter was CNY 5,651,280.54, a recovery from an operating loss of CNY 7,679,069.82 in the same quarter of the previous year[43] - The total comprehensive income for the first quarter was CNY 5,099,046.42, a significant improvement from a comprehensive loss of CNY 7,452,643.07 in the previous year[45] Cash Flow - The net cash flow from operating activities was negative at ¥181,882,246.52, worsening by 98.12% compared to the previous year's negative cash flow of ¥95,701,202.33[8] - The company's cash and cash equivalents decreased by 63.25% to ¥134,799,898.50 due to increased payments for purchasing financial products and goods[16] - The net cash flow from operating activities decreased by 98.12% to -¥189,600,289.77, mainly due to higher procurement payments exceeding sales receipts[16] - The company's cash flow from investing activities decreased by 376.16% to -¥50,341,218.11, primarily due to higher amounts spent on purchasing financial products compared to redemptions[16] - Operating cash inflow totaled CNY 321,313,317.62, an increase of 10.9% from CNY 289,571,691.42 in the previous period[50] - Operating cash outflow amounted to CNY 503,195,564.14, up 30.7% from CNY 385,272,893.75 in the prior period[51] - Net cash flow from investment activities was CNY -49,988,468.36, compared to a positive CNY 18,228,837.49 previously[51] - Financing cash inflow reached CNY 51,235,000.00, down 51.5% from CNY 105,770,000.00 in the prior period[51] - Net cash flow from financing activities was CNY -1,210,812.47, a significant decline from CNY 32,334,600.38 in the previous year[51] - The ending balance of cash and cash equivalents was CNY 83,138,839.87, down from CNY 164,436,123.14 year-over-year[52] - The company reported a total cash outflow of CNY 150,246,096.53, compared to CNY 24,991,995.67 in the previous period[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,934,947,605.75, a decrease of 1.84% from ¥4,008,538,569.34 at the end of the previous year[8] - The total current assets decreased from CNY 2,919,505,443.12 to CNY 2,845,404,748.83, a decline of approximately 2.5%[33] - Current liabilities totaled CNY 1,609,343,689.87, down from CNY 1,688,274,595.14, indicating improved management of short-term obligations[35] - The total liabilities decreased to CNY 1,660,391,577.43 from CNY 1,743,532,239.75, suggesting a reduction in financial leverage[35] - The company's retained earnings increased to CNY 516,420,048.40 from CNY 510,128,051.16, indicating positive profit retention[36] - The total non-current assets amounted to CNY 1,089,542,856.92, slightly up from CNY 1,089,033,126.22, reflecting stability in long-term investments[34] - The company reported a decrease in accounts payable to CNY 434,331,447.27 from CNY 493,635,589.05, indicating improved payment practices[35] Shareholder Information - The top shareholder, Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., holds 24.08% of the shares, totaling 341,071,926 shares[12] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[13] Operational Insights - Operating costs rose by 119.65% to ¥153,679,918.34, reflecting the same reasons as the increase in operating revenue[16] - Research and development expenses increased to CNY 11,530,074.47, up from CNY 8,308,555.53, reflecting a commitment to innovation and product development[43] - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[36] Other Financial Metrics - The weighted average return on equity improved to 0.34% from -0.27%, an increase of 0.61 percentage points[8] - The company reported non-recurring gains of ¥11,359,162.86, primarily from non-current asset disposal gains and government subsidies[10] - The company experienced a 97.65% increase in credit impairment losses to ¥8,063,227.57, reflecting higher bad debt provisions compared to the previous year[16] - The company reported investment income of CNY 11,047,204.71, contributing positively to overall financial performance[43] - The company has no expected inability to recover principal or other impairment risks related to entrusted financial management[24] - The total amount of entrusted financial management reached CNY 34,883.5 million, with an outstanding balance of CNY 21,956.59 million and no overdue amounts[23] - The total entrusted financial management amount includes various bank financial products with annualized returns ranging from 1.47% to 3.69%[25]