MICROGATE(SZ:300319)2021-04-26 16:00Financial Performance - The company's revenue for Q1 2021 reached ¥670,568,253.73, representing a 100.17% increase compared to ¥335,005,388.61 in the same period last year[8]. - Net profit attributable to shareholders was ¥66,227,595.44, a significant increase of 323.77% from ¥15,628,169.73 year-over-year[8]. - The net profit after deducting non-recurring gains and losses was ¥51,410,873.33, up 336.81% from ¥11,769,516.19 in the previous year[8]. - Basic earnings per share rose to ¥0.0952, reflecting a 325.00% increase compared to ¥0.0224 in the same period last year[8]. - Operating revenue increased by CNY 335,562,865.12, a growth of 100.17% year-on-year, attributed to increased product sales and a low base from the previous year due to the pandemic[23]. - The total profit increased by CNY 59,293,272.30, a growth of 302.00%, driven by higher sales and total profit[23]. - The net profit for the first quarter of 2021 was CNY 180,930,989.91, compared to CNY 114,703,394.47 in the same period last year, indicating a year-over-year increase of approximately 57.6%[71]. - The net profit for the current period is CNY 53,878,254.24, up from CNY 15,568,499.38 in the previous period, indicating a growth of about 246.5%[94]. Assets and Liabilities - The company's total assets increased by 7.33% to ¥4,131,049,067.88 from ¥3,848,771,147.88 at the end of the previous year[8]. - Total liabilities reached CNY 1,892,283,229.77, compared to CNY 1,682,406,199.38, showing an increase of around 12.45%[68]. - The company's equity attributable to shareholders was CNY 2,162,176,926.00, up from CNY 2,094,388,833.81, reflecting a growth of about 3.24%[71]. - The company's current assets totaled CNY 2,034,261,927.27, up from CNY 1,948,837,038.43, indicating an increase of about 4.39%[62]. - Total assets rose to CNY 3,163,364,804.10, up from CNY 3,076,995,881.26, demonstrating overall growth in the company's financial position[78]. - Total current liabilities were CNY 978,492,682.04, with accounts payable at CNY 245,242,943.73[114]. Cash Flow - The net cash flow from operating activities was ¥116,937,642.62, down 37.61% from ¥187,444,041.92 in the same period last year[8]. - The net cash flow from operating activities decreased by CNY 70,506,399.30, a decline of 37.61%, mainly due to increased procurement costs and rising raw material prices[26]. - The cash flow from operating activities for the current period is CNY 116,937,642.62, down from CNY 187,444,041.92 in the previous period, showing a decrease of about 37.5%[95]. - The net cash flow from financing activities decreased by CNY 136,676,938.76, a reduction of 476.10%, primarily due to increased repayments compared to the previous period[26]. - The cash inflow from operating activities totaled CNY 643,381,771.06, compared to CNY 431,738,683.49 in the previous period, indicating an increase of approximately 48.9%[95]. Research and Development - Research and development expenses increased by CNY 17,981,687.14, a rise of 120.20%, due to higher R&D payroll and increased material usage for new projects[23]. - Research and development expenses for the current period amount to CNY 13,211,354.94, compared to CNY 7,243,067.54 in the previous period, which is an increase of approximately 82.5%[88]. - The company is focused on expanding its market presence and enhancing product development, as indicated by the increase in R&D spending[81]. Strategic Initiatives - The company is focusing on internal management efficiency improvements and automation investments to enhance operational efficiency and competitiveness[27]. - The company plans to continue promoting its annual business plan and "14th Five-Year" strategic planning to drive innovation and expand sales channels[31]. - The company aims to mitigate risks from external economic changes by seeking new cooperation opportunities and cultivating new profit growth points[34]. - The company is actively integrating resources with Xingyuan Electronics to improve competitiveness and mitigate risks associated with market changes[37]. Inventory and Procurement - The company reported a significant increase in accounts payable, which rose to CNY 620,432,640.07 from CNY 546,718,096.69, representing an increase of about 13.4%[68]. - The company has adjusted the investment amounts for the "LTCC-based terminal RF SAW filter" and "MPIM small-sized inductor production projects" due to changes in project implementation locations and management efficiency[49]. - The company reported a risk of inventory impairment due to potential market demand fluctuations, which could lead to excess inventory and reduced net realizable value[40]. Fundraising and Investments - The company plans to raise up to CNY 1.34 billion through a private placement to fund projects including the expansion of high-end small-sized inductors and RF filter production, as well as the establishment of a research and development center[41]. - The company has received approval from the China Securities Regulatory Commission for its private placement plan, allowing it to proceed with fundraising activities[42]. - The cumulative investment in fundraising projects reached 74,732.25 million, with a total of 1,135.17 million invested in the current quarter[47].