森远股份(300210) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥84,604,912.68, a decrease of 27.02% compared to ¥115,931,483.76 in the same period last year[8] - Net profit attributable to shareholders was ¥6,180,317.04, down 51.54% from ¥12,752,148.78 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥3,679,622.33, a decline of 60.82% compared to ¥9,392,755.81 in the previous year[8] - Basic and diluted earnings per share were both ¥0.01, down 66.67% from ¥0.03 in the previous year[8] - The net profit attributable to ordinary shareholders was 6.18 million yuan, down 51.54% from 12.75 million yuan year-on-year, primarily due to a decline in product sales[18] - The net profit for the first quarter was CNY 12,024,876.67, down from CNY 13,169,494.50 in the previous period, indicating a decline of about 8.7%[46] - The total profit for the quarter was CNY 11,896,136.41, an increase from CNY 10,770,993.78 in the previous period, reflecting a growth of approximately 10.5%[45] Cash Flow - The net cash flow from operating activities increased significantly by 997.57%, reaching ¥36,816,230.81, compared to ¥3,354,325.82 in the same period last year[8] - The net cash flow from operating activities increased by 997.57% compared to the previous period, mainly due to increased cash collection from sales[17] - Operating cash inflow for Q1 2021 was CNY 181,098,747.69, an increase from CNY 117,154,929.94 in Q1 2020, representing a growth of approximately 54.4%[49] - Net cash flow from operating activities was CNY 36,816,230.81, significantly up from CNY 3,354,325.82 in the previous year, indicating a year-over-year increase of over 1000%[49] - Total cash inflow from operating activities was CNY 144,103,400.92, up from CNY 99,622,602.35, marking an increase of about 44.5%[51] - The company reported a net cash flow from operating activities of CNY 40,110,020.68, compared to CNY 9,541,479.64 in Q1 2020, indicating a strong operational performance[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,767,508,545.37, a decrease of 1.36% from ¥1,791,801,450.96 at the end of the previous year[8] - The company's total liabilities decreased by 1.36%, while the net assets attributable to shareholders increased by 0.62% to ¥1,002,914,297.81[8] - Total liabilities decreased to CNY 755,403,724.39 from CNY 785,548,762.50[33] - Current liabilities totaled CNY 684,263,782.95, down from CNY 711,462,635.82[33] - Non-current liabilities decreased to CNY 71,139,941.44 from CNY 74,086,126.68[33] - Owner's equity increased to CNY 1,012,104,820.98 from CNY 1,006,252,688.46[34] Operating Costs and Expenses - The company experienced a 35.93% decrease in operating costs, amounting to ¥83,007,300.00, compared to ¥53,180,200.00 in the same period last year[15] - Operating costs decreased to CNY 53,548,637.11 from CNY 74,253,524.38, representing a reduction of approximately 28%[44] - Research and development expenses decreased by 26.37%, indicating that new product development projects have just started and have not yet significantly ramped up[16] - Research and development expenses were CNY 1,671,753.22, down from CNY 2,735,843.41, a decrease of about 38.9%[44] - Other income decreased by 84.89%, primarily due to a significant reduction in government subsidies received compared to the previous year[16] - Other income for the quarter was CNY 543,171.66, compared to CNY 3,563,171.66 in the previous period, showing a decrease of approximately 84.7%[44] Risks and Strategic Measures - The company faces risks related to industry competition as the market for maintenance equipment is expected to grow, potentially increasing competition[19] - The company is implementing measures to enhance core competitiveness and reduce operational risks, including optimizing management systems and improving product quality[20] - The proportion of accounts receivable to total assets continues to increase, posing a risk of bad debt losses if not managed effectively[22] - The company plans to strengthen monitoring of accounts receivable and improve collection efforts to mitigate cash flow risks[22] Investment Activities - The net cash flow from investing activities grew by 1911.15%, driven by increased investment in artificial intelligence equipment and higher payments for equity in subsidiaries[17] - Cash outflow from investing activities totaled CNY 4,080,742.18, compared to CNY 578,000.00 in Q1 2020, reflecting a substantial increase in investment activities[49] Audit and Compliance - The company has not undergone an audit for the Q1 2021 report, which may affect the reliability of the financial data presented[55] - The company has not applied the new leasing standards for the financial statements, indicating a potential area for future compliance and reporting adjustments[54]