Haixin Foods (SZ:002702)2021-04-23 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥418,047,184.86, representing a 26.51% increase compared to ¥330,439,262.56 in the same period last year[9]. - The net profit attributable to shareholders decreased by 41.19% to ¥12,803,627.39 from ¥21,769,405.05 year-on-year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 45.07% to ¥11,309,090.51 compared to ¥20,589,681.32 in the previous year[9]. - The basic earnings per share decreased by 41.28% to ¥0.0266 from ¥0.0453 in the same period last year[9]. - The diluted earnings per share also decreased by 41.28% to ¥0.0266 from ¥0.0453 year-on-year[9]. - The weighted average return on equity was 1.52%, down from 2.72% in the previous year, a decrease of 1.20%[9]. - The company reported a net profit attributable to shareholders of ¥12,803,627.39, a decrease of 41.19% due to declining gross margins and increased expenses[17]. - Net profit for Q1 2021 was ¥12,149,587.41, a decrease of 44.1% compared to ¥21,769,405.05 in the same period last year[40]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 67.98% to ¥27,757,746.10 from ¥16,524,182.35 in the same period last year[9]. - Cash and cash equivalents increased by 41.12% to ¥165,859,247.61 due to the maturity of financial products during the reporting period[16]. - The company’s cash and cash equivalents at the end of the period totaled ¥145,352,646.65, reflecting a 30.88% increase[17]. - Cash inflow from operating activities totaled CNY 579,955,829.71, up from CNY 426,350,030.77, representing an increase of approximately 36%[48]. - Net cash flow from operating activities was CNY 27,757,746.10, compared to CNY 16,524,182.35 in the previous period, showing a growth of about 68%[48]. - Cash and cash equivalents at the end of the period amounted to CNY 145,352,646.65, compared to CNY 111,060,069.92 at the end of the previous period, marking an increase of about 31%[49]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,280,286,475.52, a decrease of 5.37% from ¥1,352,942,852.64 at the end of the previous year[9]. - Current assets totaled CNY 738,939,022.71, down from CNY 834,772,112.87, indicating a decrease of about 11.48%[30]. - Total liabilities decreased to CNY 426,633,848.17 from CNY 511,799,370.61, a reduction of about 16.66%[32]. - Total equity increased to CNY 853,652,627.35 from CNY 841,143,482.03, reflecting a growth of approximately 1.80%[33]. - The company reported a significant reduction in short-term borrowings, which were not present as of March 31, 2021, compared to CNY 50,031,319.47 on December 31, 2020[32]. - Total current liabilities were CNY 490,127,467.49 as of December 31, 2020[56]. - Total liabilities reached CNY 614,535,524.43 as of January 1, 2021[59]. Operating Costs and Expenses - Operating costs rose by 30.00% to ¥321,230,960.49, corresponding to an increase in revenue[16]. - Research and development expenses increased by 34.95% to ¥3,783,251.49, reflecting higher investment in R&D activities[16]. - Total operating costs amounted to ¥401,999,178.00, up from ¥307,394,717.73 year-on-year[39]. - Cash outflow for purchasing goods and services was CNY 345,205,261.87, an increase from CNY 294,081,025.00, reflecting a rise of approximately 17%[48]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development[40]. - The financial outlook remains cautious due to increased operating costs and competitive market conditions[40].