GMK(SZ:300619)2021-04-25 16:00Financial Performance - The company's revenue for Q1 2021 was ¥137,380,966.39, representing a 257.14% increase compared to ¥38,466,673.98 in the same period last year[8]. - The net profit attributable to shareholders was a loss of ¥10,750,490.59, an improvement of 37.00% from a loss of ¥17,063,526.14 in the previous year[8]. - The basic earnings per share for the reporting period was -¥0.1439, an improvement of 37.02% from -¥0.2285 in the same period last year[8]. - The net loss for the first quarter was CNY 10,750,490.59, compared to a net loss of CNY 17,076,516.32 in the same period last year, showing an improvement of approximately 37.5%[43]. - The total comprehensive loss for the period was CNY -10,750,490.59, compared to CNY -17,076,516.32 in the previous year, reflecting an improvement of approximately 37.5%[44]. Cash Flow - The net cash flow from operating activities was ¥37,863,458.42, a significant increase of 174.66% compared to a negative cash flow of ¥50,713,710.27 in the same period last year[8]. - Total cash inflow from operating activities reached ¥238,563,165.46, compared to ¥60,361,558.49 in the same period last year, indicating a growth of approximately 295%[51]. - Cash outflow from operating activities was ¥200,699,707.04, up from ¥111,075,268.76 in Q1 2020, representing an increase of about 80%[51]. - The cash inflow from operating activities was primarily driven by sales revenue of ¥167,132,378.53, a substantial increase from ¥25,793,355.54 in Q1 2020[54]. - The net cash flow from operating activities for Q1 2021 was ¥37,863,458.42, a significant improvement compared to a net outflow of ¥50,713,710.27 in Q1 2020[51]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,630,245,270.40, up 10.91% from ¥1,469,895,412.50 at the end of the previous year[8]. - The total liabilities rose to CNY 1,114,302,080.82 from CNY 943,251,976.51, representing an increase of about 18.1%[35]. - The total current asset of CNY 863,381,426.39 as of March 31, 2021, compared to CNY 699,979,074.40 at the end of 2020, reflecting an increase of approximately 23.36%[33]. - The current liabilities totaled CNY 729,571,997.91, up from CNY 537,914,455.59, indicating an increase of about 35.5%[35]. - The non-current liabilities decreased slightly to CNY 384,730,082.91 from CNY 405,337,520.92, reflecting a decrease of about 5.1%[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,679[12]. - The largest shareholder, Zhang Qifa, holds 19.39% of the shares, with 14,483,837 shares, of which 7,000,000 are pledged[12]. Operational Metrics - Accounts receivable financing decreased by 73.89% to ¥9,689,907.37, attributed to a reduction in bank acceptance received during the reporting period[18]. - Prepaid accounts increased by 218.06% to ¥45,596,013.26, driven by an increase in orders and advance payments for raw materials[18]. - Inventory rose by 72.30% to ¥179,811,252.04, reflecting growth in orders and increased stock of raw materials and finished goods[18]. - Contract liabilities surged by 348.57% to ¥171,709,404.80, due to an increase in customer deposits received from higher order volumes[18]. - The top five suppliers accounted for 32.44% of total purchases, up from 27.12% in the previous year, indicating a shift in supplier dynamics[20]. Research and Development - Research and development expenses increased by 32.44% to ¥8,151,112.22, primarily due to higher employee compensation and travel expenses[18]. - Research and development expenses were CNY 8,151,112.22, compared to CNY 6,154,622.04, reflecting an increase of about 32.4%[42]. Future Outlook - The company expects to achieve profitability in the first half of 2021 compared to the same period last year, based on current orders and delivery forecasts[26]. - The company plans to terminate the "Intelligent and Information Upgrade Project" and the "R&D Center Construction Project," reallocating the remaining funds for permanent working capital[25].