宸展光电(003019) - 2021 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2021 was ¥291,380,863.77, a decrease of 6.32% compared to ¥311,054,152.45 in the same period last year[7] - Net profit attributable to shareholders was ¥27,953,686.38, down 14.93% from ¥32,858,620.30 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥24,868,219.04, reflecting a decline of 19.07% compared to ¥30,728,370.23 in the previous year[7] - The basic earnings per share decreased by 35.29% to ¥0.22 from ¥0.34 in the same period last year[7] - The weighted average return on equity was 2.28%, down 4.26% from 6.54% in the previous year[7] - Total operating revenue for Q1 2021 was CNY 291,380,863.77, a decrease of 6.4% compared to CNY 311,054,152.45 in Q4 2020[41] - Total operating costs for Q1 2021 were CNY 257,012,212.87, down 4.9% from CNY 270,615,392.40 in Q4 2020[41] - Net profit for Q1 2021 was CNY 27.95 million, down 15% from CNY 32.86 million in the same period last year[42] - Total profit for Q1 2021 was CNY 35.47 million, a decrease of 18.1% from CNY 43.32 million in the prior period[42] - Operating profit for Q1 2021 was CNY 35.45 million, down 20% from CNY 44.32 million in the previous year[42] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,534,658,186.61, an increase of 3.34% from ¥1,485,124,137.28 at the end of the previous year[7] - Net assets attributable to shareholders increased by 2.29% to ¥1,237,825,802.45 from ¥1,210,115,087.20 at the end of the previous year[7] - Total assets as of March 31, 2021, amounted to CNY 1,463,523,583.93, up from CNY 1,417,835,529.91 at the end of 2020[39] - Total liabilities increased to CNY 257,691,487.62 from CNY 237,432,791.84, representing an increase of 8.8%[40] - The company's total liabilities increased to 289,424,837.57 CNY after adjustments, primarily due to the recognition of lease liabilities[56] - The total current liabilities increased to CNY 279,091,200.93 from CNY 268,629,667.85, showing a rise of about 3.4%[35] - The total non-current liabilities rose to CNY 17,741,183.23 from CNY 6,379,382.23, indicating a significant increase of about 178.5%[35] Cash Flow - The net cash flow from operating activities was negative at -¥56,795,528.42, compared to -¥10,878,524.94 in the same period last year[7] - Cash flow from operating activities decreased by 49.00% to 208.29 million, primarily due to government subsidies received in the previous year[16] - The company reported a net cash outflow from operating activities of -77,550,130.79 CNY, compared to a positive cash flow of 5,086,828.82 CNY in the prior period[51] - The total cash inflow from investment activities was 356,204,225.35 CNY, while cash outflow was 412,843,890.92 CNY, resulting in a net cash outflow of -56,639,665.57 CNY[53] - The company's cash outflow for financing activities decreased by 48.46% to 6,535.21 million, largely due to a significant cash dividend payout in the previous year[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,176[10] - The company's total equity attributable to shareholders reached CNY 1,205,832,096.31, an increase from CNY 1,180,402,738.07[40] - The company's total equity remained stable at CNY 991,825,802.45 as of March 31, 2021[35] Operational Highlights - The company secured orders worth 2,560.96 million in the smart fitness sector during Q1 2021, with shipments expected in Q2 and Q3 2021[17] - The company plans to acquire 51% of Longxing Display Technology Co., Ltd. for a cash consideration between 3.2 million and 10 million, linked to future net profits[18] Changes in Financial Position - Cash and cash equivalents decreased by 34.09% to 18,247.02 million due to the purchase of financial products and structured deposits[15] - Accounts receivable financing increased by 36.09% to 862.51 million, primarily due to an increase in customer acceptance bills[15] - Prepayments surged by 1294.50% to 3,121.91 million, mainly due to increased advance payments to suppliers[15] - Interest income rose significantly by 540.44% to 132.03 million, attributed to increased deposit interest income[15] - The company reported a 63.66% decrease in taxes and surcharges to 30.84 million, mainly due to reduced VAT surcharges[15] - The company’s interest expenses decreased by 48.08% to 17.38 million, reflecting lower interest costs on credit borrowings[15] Research and Development - Research and development expenses for Q1 2021 were CNY 10,827,590.67, slightly down from CNY 11,313,694.77 in Q4 2020[41] - Research and development expenses for Q1 2021 were CNY 3.85 million, slightly down from CNY 4.06 million in the previous year[45] Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥3,085,467.34 for the reporting period[8] - The company experienced a decrease in cash inflow from sales, totaling CNY 267.79 million, down from CNY 328.13 million in the prior period[48] - The company reported a decrease in comprehensive income to CNY 27.71 million from CNY 32.68 million in the previous year[42] - The impact of exchange rate changes on cash and cash equivalents was a positive 598,060.80 CNY, contrasting with a negative impact of -903,557.92 CNY in the previous period[53] Accounting Changes - The company adopted a new leasing standard effective January 1, 2021, impacting the financial statements[61] - The adjustment for right-of-use assets and lease liabilities was CNY 523,755.00 each, reflecting the impact of the new leasing standard[62] - The first quarter report for 2021 was not audited, indicating preliminary financial data[63]