SNS(SZ:300470)2021-04-27 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥230,371,247.41, representing a 30.64% increase compared to ¥176,345,134.44 in the same period last year[10]. - Net profit attributable to shareholders for Q1 2021 was ¥51,904,565.58, a significant increase of 75.15% from ¥29,633,568.06 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was ¥50,107,232.01, up 77.42% from ¥28,241,697.59 year-on-year[10]. - The basic earnings per share for Q1 2021 was ¥0.2599, an increase of 68.44% compared to ¥0.1543 in the same period last year[10]. - The company achieved operating revenue of CNY 230.37 million, a year-on-year increase of 30.64%[28]. - The net profit attributable to the parent company was CNY 51.90 million, representing a year-on-year growth of 75.15%[28]. - The company reported a significant increase in net profit, with a net profit of 5,121.07 million after deducting non-recurring losses[60]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,435,657,983.82, reflecting a 6.13% increase from ¥2,295,070,264.62 at the end of the previous year[10]. - The total current assets amounted to ¥1,826,761,938.48, slightly down from ¥1,827,010,411.88 at the end of the previous period[90]. - The total liabilities amounted to ¥377,865,361.98, down from ¥763,431,893.72, indicating a decrease of around 50.5%[96]. - The company's equity attributable to shareholders remained unchanged at 1,528,357,879.80 CNY, indicating stability in shareholder value[142]. - The total assets increased to 2,295,948,413.60 CNY, with non-current assets totaling 468,938,001.72 CNY after adjustments[142]. Cash Flow - The net cash flow from operating activities was ¥35,230,600.99, down 32.33% from ¥52,065,858.43 in the same period last year[10]. - Cash and cash equivalents decreased by 52.58% to CNY 360.84 million due to investments in financial products and payments for subsidiary acquisitions[28]. - Cash inflow from operating activities totaled 179,363,152.62, compared to 161,016,913.23 in the previous period, representing an increase of 11.4%[124]. - The total cash and cash equivalents at the end of the period decreased to 255,747,739.48 CNY from 693,708,538.22 CNY at the beginning of the period, reflecting a net decrease of 437,960,798.74 CNY[134]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,986[14]. - The largest shareholder, Sichuan Chuanji Investment Co., Ltd., held 22.08% of the shares, amounting to 45,970,265 shares[14]. - The company completed a private placement of shares, raising a net amount of ¥445,756,569.63, with 11,494,252 new shares issued[32]. Investments and Acquisitions - The company acquired 100% equity of Zigong Xindi Peier Valve Co., Ltd., increasing intangible assets by 43.32 million yuan, primarily land use rights and non-patented technology[38]. - The company has committed to invest ¥7 million in the high-parameter mechanical seal expansion project, which has already exceeded its budget by 2.50%[57]. - The acquisition of 100% equity in Youtai Technology was completed with an investment of ¥17 million, fully utilizing the budget[57]. - The company has committed ¥10 million for the partial payment of the acquisition of Huayang Sealing, with 100% of the budget already utilized[57]. Market and Operational Insights - The company secured multiple contracts for dry gas seals in the Middle East, indicating a recovery in overseas business performance[31]. - The company’s mechanical seal products have reached a historical high in hand orders, with production capacity fully utilized[31]. - The company is actively pursuing digital transformation and smart manufacturing projects to improve operational efficiency and product quality[32]. - The company has experienced significant growth in market demand, particularly in the petrochemical sector, leading to a rapid increase in orders[60]. Risks and Challenges - The company faces risks related to revenue and profit growth not meeting expectations due to macroeconomic downturns affecting the petrochemical industry[41]. - High accounts receivable may lead to bad debts and liquidity risks, prompting the company to enhance credit control and collection efforts[45]. - The company acknowledges the risks associated with goodwill impairment and is implementing measures to control these risks, including performance commitments and integration of core team members[50]. Research and Development - The company is in the research phase for a project on mechanical seal performance evolution, which aims to enhance the reliability of sealing products and shorten the gap with international standards[32]. - The company is working on a project for high-performance nuclear-grade sealing devices, which aims to break foreign monopolies and ensure operational safety for nuclear power plants[35]. - Research and development expenses for the current period were ¥10,574,154.20, up 18.3% from ¥8,942,211.09 in the previous period[110].