荃银高科(300087) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥294,245,563.46, representing a 66.13% increase compared to ¥177,119,593.81 in the same period last year[8]. - The net profit attributable to shareholders was -¥2,071,685.35, a decrease of 123.48% from ¥8,822,859.72 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,847,301.38, down 147.34% from ¥8,127,251.78 year-on-year[8]. - The basic earnings per share for the reporting period was -¥0.0048, a decline of 122.43% from ¥0.0214 in the same period last year[8]. - The diluted earnings per share for the reporting period was also -¥0.0048, reflecting the same percentage decline as basic earnings per share[8]. - The net profit for Q1 2021 was CNY -4.17 million, a decrease of CNY 0.98 million from the previous year[28]. - The net profit for the period was a loss of ¥4,174,272.06, contrasting with a net profit of ¥5,612,365.78 in the same period last year, reflecting a decline of approximately 174.4%[71]. - The total comprehensive income for the current period is -¥4,687,334.17, down from ¥12,899,338.53 in the previous period[78]. Cash Flow - The net cash flow from operating activities was -¥123,298,090.48, an improvement of 31.75% compared to -¥180,646,691.55 in the same period last year[8]. - The company's cash inflow from operating activities totaled CNY 384.88 million, up 74.23% from CNY 220.90 million in Q1 2020[24]. - The cash outflow from operating activities increased by 26.55% to CNY 508.18 million, compared to CNY 401.55 million in Q1 2020[24]. - The company reported a significant increase in cash received from investment activities, totaling ¥156,960,000.00 compared to ¥146,192,246.42 in the previous period[87]. - Net cash flow from operating activities was CNY -75,114,083.84, improving from CNY -163,666,583.76 year-over-year[92]. - Net cash flow from investment activities was CNY 20,558,725.39, a recovery from CNY -16,850,831.39 in the previous year[95]. - Financing cash inflow amounted to CNY 270,050,000.00, down from CNY 440,392,305.20 in the last period[92]. - The ending cash and cash equivalents balance was CNY 228,778,530.93, a decrease from CNY 444,376,054.14 year-over-year[92]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,311,572,621.53, a decrease of 6.51% from ¥2,472,447,760.58 at the end of the previous year[8]. - As of March 31, 2021, the total current assets amounted to ¥1,651,980,883.46, a decrease of approximately 9.75% from ¥1,830,402,617.25 as of December 31, 2020[49]. - Cash and cash equivalents decreased to ¥230,909,386.65 from ¥437,522,550.22, representing a decline of about 47.3%[49]. - The company's total liabilities decreased to ¥1,411,087,157.69 from ¥1,585,198,775.22, a decline of approximately 10.9%[55]. - Current liabilities decreased significantly to ¥1,118,400,702.33 from ¥1,531,475,816.01, a reduction of about 27.0%[55]. - Total liabilities decreased to ¥1,015,450,557.22 from ¥1,175,813,530.46, representing a decline of approximately 13.6%[65]. - The total equity attributable to shareholders increased to ¥685,494,638.48 from ¥675,300,719.30, reflecting a growth of about 1.8%[58]. Research and Development - The company's research and development expenses increased by 53.84% to CNY 13.90 million, reflecting a commitment to enhancing R&D efforts[23]. - Research and development expenses totaled ¥13,904,299.42, up from ¥9,038,309.30, marking an increase of about 54.5% year-over-year[68]. - The company plans to enhance R&D investment and accelerate the development of new varieties to meet market demand, while also improving marketing strategies and expanding sales networks[31]. - The company acknowledges risks associated with new variety development, including long cycles and high investment, and aims to ensure market-oriented R&D[31]. Market and Competition - The company has faced intensified market competition due to the implementation of the new Seed Law, leading to a significant influx of new varieties and increased inventory pressure[31]. - The company is focused on mitigating risks from potential changes in industry policies by increasing R&D investment and ensuring high-quality seed production[31]. - The company is addressing production risks related to climate sensitivity by strengthening standardized seed production bases and improving production management[31]. Shareholder and Corporate Structure - The largest shareholder, Sinochem Modern Agriculture, acquired control of the company with 127,926,927 shares, representing 29.73% of total shares after a voting rights delegation agreement[35]. - The company has established a group structure with 19 subsidiaries and 4 associated companies, necessitating improvements in management capabilities across various functions[31]. - Shareholder Jia Guilan released the pledge on 10,200,000 shares, while Zhang Qin released the pledge on 10,085,154 shares and pledged 750,000 shares[35]. - During the reporting period, the company’s vice chairman and general manager Zhang Qin reduced her holdings by 3,301,600 shares, and other executives also reduced their holdings[35]. Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[43]. - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[44]. - The company did not conduct any research, communication, or interview activities during the reporting period[45]. - The company has not undergone an audit for the first quarter report[108]. - The company has not made any adjustments related to the new leasing standards for prior comparative data[105].