WLM(SZ:300591)2021-04-27 16:00Financial Performance - The company's revenue for Q1 2021 was ¥104,097,960.63, representing a 140.57% increase compared to ¥43,270,573.60 in the same period last year[9] - Net profit attributable to shareholders was ¥3,298,899.46, a significant turnaround from a loss of ¥28,234,946.76 in the previous year, marking an increase of 111.68%[9] - Basic earnings per share rose to ¥0.01 from a loss of ¥0.0835, indicating an increase of 111.98%[9] - The company achieved operating revenue of CNY 104,097,960.63, a year-on-year increase of 140.57% due to the recovery of orders after the impact of COVID-19[20] - Net profit attributable to shareholders was CNY 3,298,899.46, compared to a loss of CNY 28,234,946.76 in the same period last year, representing a year-on-year growth of 111.68%[20] - The net profit for Q1 2021 was CNY 3,379,040.13, a recovery from a net loss of CNY 29,208,192.07 in the previous year[50] - The net profit for the period was CNY 4,134,437.62, compared to a net loss of CNY 27,410,473.96 in the same period last year, indicating a turnaround in performance[54] Cash Flow - The net cash flow from operating activities improved to ¥29,188,456.56, compared to a negative cash flow of ¥38,611,447.40 in the same period last year, reflecting a 175.60% increase[9] - The company's cash inflow from operating activities totaled CNY 163,168,695.86, an increase of 89.02% compared to the previous year, primarily due to increased sales collections[19] - The cash flow from operating activities generated a net inflow of CNY 29,188,456.56, contrasting with a net outflow of CNY 38,611,447.40 in the prior period[59] - Total cash inflow from operating activities reached $156,148,023.66, compared to $68,990,328.97 in the prior period, indicating a growth of approximately 126%[61] - The net cash flow from operating activities was $32,156,658.97, a significant improvement from a net outflow of $42,932,344.11 in the previous period[61] Assets and Liabilities - Total assets decreased by 8.03% to ¥969,058,084.07 from ¥1,053,633,083.92 at the end of the previous year[9] - The company's current assets totaled CNY 708,948,606.70, down from CNY 789,385,105.87 at the end of 2020, indicating a decrease of about 10.1%[40] - The total liabilities decreased from CNY 537,434,975.94 to CNY 449,502,020.04, representing a reduction of about 16.4%[42] - The company's short-term borrowings were CNY 275,285,268.15, slightly down from CNY 285,285,268.15, a decrease of approximately 3.5%[42] - The total owner's equity remained stable at CNY 329,724,410.00, unchanged from the previous period[42] Inventory and Receivables - The company's accounts receivable at the end of 2021 Q1 amounted to 328,002.6 thousand CNY, representing 33.85% of total assets[23] - The company reported a decrease in accounts receivable from 454,123.8 thousand CNY at the end of 2018 to 328,002.6 thousand CNY at the end of 2021 Q1[23] - The company's inventory impairment provision increased by 248.13% to CNY 1,506,505.20, reflecting proactive measures to avoid inventory backlog during channel optimization[19] - Inventory also saw a decline, dropping from CNY 177,165,489.20 to CNY 156,595,228.67, which is a decrease of around 11.6%[40] Shareholder Information - The top shareholder, Lin Dayao, holds 24.64% of the shares, with a total of 81,235,700 shares, of which 60,926,775 are under pledge[12] - The company did not engage in any repurchase transactions during the reporting period[13] Government Support and Other Income - The company received government subsidies amounting to ¥1,412,600.00 during the reporting period[10] - The company reported a significant increase in other income, which rose by 2050.75% to CNY 1,439,268.79, mainly due to increased government subsidies[19] - The company received other income totaling CNY 1,380,416.02 during the period[53] Research and Development - The company has established a strong R&D team to better predict market trends and consumer preferences in the leather goods industry[26] - Research and development expenses for Q1 2021 were CNY 5,425,887.57, down from CNY 7,496,326.88 in the previous year[49] - The company incurred research and development expenses of CNY 4,565,973.70, slightly down from CNY 5,893,864.81 in the previous period[53] Risk Management - The company has identified risks related to raw material price fluctuations, which could impact production costs[25] - The company plans to enhance its core competitiveness and brand value to mitigate risks associated with economic fluctuations and group purchasing business volatility[22] - The company is actively integrating and managing the acquired entity, Super Qi Technology, to mitigate goodwill impairment risks[27] Compliance and Governance - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - There were no violations regarding external guarantees during the reporting period[33] - The company did not conduct any research, communication, or interview activities during the reporting period[35]