长信科技(300088) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,553,804,997.05, representing a 15.19% increase compared to ¥1,348,956,788.18 in the same period last year[7]. - The net profit attributable to shareholders was ¥231,546,093.76, up 20.06% from ¥192,854,351.60 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥217,319,120.63, reflecting a 17.94% increase from ¥184,260,026.17 in the previous year[7]. - Basic earnings per share increased to ¥0.0943, a rise of 19.07% from ¥0.0792 in the previous year[7]. - Diluted earnings per share rose to ¥0.0938, marking a 19.49% increase from ¥0.0785 year-on-year[7]. - The company reported a total comprehensive income of CNY 236,867,862.70 for Q1 2021, up from CNY 197,444,572.63 in Q1 2020, an increase of 19.9%[91]. - The net profit for the first quarter of 2021 was CNY 205,611,498.36, an increase from CNY 153,214,270.14 in the same period last year, representing a growth of approximately 34.2%[93]. - Operating profit reached CNY 244,197,882.52, compared to CNY 182,419,205.59 in the previous year, indicating a year-over-year increase of about 34%[93]. Cash Flow and Assets - The net cash flow from operating activities decreased by 40.92% to ¥169,396,149.77, down from ¥286,727,023.10 in the same period last year[7]. - As of March 31, 2021, the company's cash and cash equivalents amounted to ¥1,351,722,453.06, a decrease from ¥1,703,711,351.68 on December 31, 2020, representing a decline of approximately 20.6%[81]. - The total current assets decreased to ¥3,628,146,530.27 from ¥3,869,318,892.89, indicating a reduction of about 6.2%[81]. - The accounts receivable increased to ¥1,464,876,829.18 from ¥1,394,884,551.88, reflecting an increase of approximately 5%[81]. - The inventory balance rose to ¥434,746,024.05 from ¥409,574,207.49, showing an increase of around 6.1%[81]. - The company’s cash flow from operating activities showed improvement, with a net cash inflow of CNY 430,464.76 from asset disposal[90]. - The company’s cash and cash equivalents were CNY 626,037,181.30, compared to CNY 904,565,839.31, reflecting a decrease of approximately 30.73%[86]. - The ending balance of cash and cash equivalents was $626,008,441.66, down from $705,381,715.47 in the previous period[101]. Investments and Expenses - The company reported a 55.96% increase in R&D expenses, driven by increased investment in research projects[23]. - The company’s investment income increased by 75.19% year-on-year, primarily from long-term equity investments[23]. - The cash paid for the purchase of fixed assets and intangible assets increased by 65.83% year-on-year, reflecting the ongoing construction of new subsidiaries[25]. - R&D expenses for Q1 2021 were CNY 70,267,739.69, which is a significant increase of 56.0% compared to CNY 45,054,352.16 in the previous year[89]. Liabilities and Equity - The total liabilities decreased to CNY 1,595,482,366.69 from CNY 1,713,965,811.86, indicating a reduction of approximately 6.9%[88]. - Owner's equity increased to CNY 7,388,855,122.15 from CNY 7,152,274,592.17, showing a growth of approximately 3.31%[85]. - The total amount of raised funds was ¥121,731.79 million, with no changes in usage during the reporting period[72]. Risks and Challenges - The company has faced risks related to accounts receivable, which have historically been high, and is implementing measures to enhance collection efforts and manage customer financial conditions[28]. - The company is addressing risks from declining customer demand due to the de-globalization trend and the economic slowdown caused by the COVID-19 pandemic, by increasing focus on top domestic and international customers[29]. - The company is exposed to foreign exchange rate fluctuations as its import and export transactions are primarily settled in USD, and it is taking measures to mitigate this risk[30]. - The company is facing risks from rising raw material prices and is working to establish strategic partnerships with key suppliers to secure resources[30]. - The company has implemented a group management model to mitigate risks associated with goodwill impairment from acquisitions, ensuring efficient management of subsidiaries[30]. Project Developments - The company is accelerating the construction of key projects, including the Changxin display project and G4.5 generation photolithography project, with expected production within the half-year[25]. - The company reported that the touch display module integration project for smart wearables has received a total investment of ¥5,607.7 million, with a cumulative investment of ¥101,809.76 million, achieving a progress rate of 82.77%[72].