Liantronics(SZ:300269)2021-04-29 16:00Financial Performance - The company's revenue for Q1 2021 was ¥201,550,906.06, a decrease of 32.18% compared to ¥297,172,151.39 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥30,733,248.22, an improvement of 61.34% from a loss of ¥79,496,933.97 in the previous year[7]. - The basic earnings per share were -¥0.06, an improvement of 53.85% from -¥0.13 in the same period last year[7]. - The company's operating revenue for Q1 2021 was CNY 201.55 million, a decrease of 32.18% compared to CNY 297.17 million in the same period last year[18]. - The net profit for the first quarter was a loss of CNY 30,879,751.95, an improvement from a loss of CNY 79,755,003.73 in the same period last year[43]. - The total comprehensive income for the first quarter was a loss of CNY 31,112,644.72, compared to a loss of CNY 80,298,935.62 in the previous year[43]. - The company's operating profit was a loss of CNY 15,854,893.05, an improvement from a loss of CNY 77,922,951.90 in the previous year[43]. - The company reported a total loss of CNY 58,444,134.05 for the current period, compared to a loss of CNY 29,397,818.04 in the previous year[46]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥8,009,015.89, a significant increase of 115.33% compared to a negative cash flow of ¥52,258,751.39 in the same period last year[7]. - Operating cash inflow for Q1 2021 was CNY 251,750,152.23, a decrease from CNY 379,808,258.63 in Q1 2020, representing a decline of approximately 33.7%[49]. - Cash inflow from investment activities totaled CNY 13,767,597.18, up from CNY 9,000,330.00 in Q1 2020, marking a 52.1% increase[49]. - Cash outflow from financing activities was CNY 482,515,413.47, slightly down from CNY 513,503,151.73 in Q1 2020, reflecting a decrease of about 6.1%[50]. - The ending balance of cash and cash equivalents was CNY 132,794,636.25, down from CNY 196,855,867.73 at the end of Q1 2020, a decrease of approximately 32.5%[50]. - The parent company's net cash flow from operating activities was negative CNY 225,522,320.43, an improvement from negative CNY 389,320,333.08 in Q1 2020[51]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,622,910,570.58, down 4.64% from ¥1,701,866,616.82 at the end of the previous year[7]. - The company's total assets as of March 31, 2021, were CNY 2,640,396,787.76, down from CNY 2,750,488,802.00 at the end of 2020[37]. - Total liabilities as of March 31, 2021, were CNY 1,279,939,966.50, a decrease from CNY 1,333,052,569.88 at the end of 2020[38]. - The total liabilities decreased from CNY 1,701,866,616.82 to CNY 1,622,910,570.58, indicating a decrease of about 4.65%[34]. - The company's cash and cash equivalents decreased to CNY 213,685,316.07 from CNY 221,704,942.00, representing a decline of about 3.00%[33]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,140[11]. - The top shareholder, Liu Hujun, holds 18.60% of the shares, with a total of 103,752,620 shares, all of which are pledged[11]. Business Operations and Strategy - The company signed over 70 domestic and international distributors, achieving more than 70% of its annual target by March 31, 2021[20]. - The company has completed the development of over 50 competitive products to support market expansion and customer demand[20]. - The company’s LED display business accounted for over 80% of total revenue during the reporting period[19]. - The company has expanded its SMT production line and planned the layout for COB production lines to ensure capacity for hot products[20]. - The company faces risks related to the inability to recover performance compensation from subsidiaries that did not meet performance commitments[21]. - The company’s total orders for LED displays have returned to pre-pandemic levels seen in 2019[20]. Performance Commitments and Risks - The company has performance commitments for its subsidiaries, including a minimum net profit of RMB 31.2 million for 2015 and increasing to RMB 64.7 million by 2019[25]. - If the actual net profit falls below the committed amount, the compensation obligation will be triggered, requiring the responsible party to compensate the company[26]. - The company is actively pursuing communication and legal measures to ensure timely fulfillment of compensation obligations from responsible parties[26]. - The company has established a compensation arrangement for its subsidiaries, allowing for cash or stock compensation methods[26]. - The company reported a remaining compensation amount of CNY 13,459,200.00 related to performance commitments from an acquisition target[29]. Compliance and Governance - The company reported that it has no violations regarding external guarantees during the reporting period[27]. - There are no significant changes in cumulative net profit expected compared to the same period last year[27]. - The company has not engaged in any investor communications or interviews during the reporting period[30]. - The company implemented a new leasing standard from January 1, 2021, affecting the recognition of lease liabilities and right-of-use assets[57].