晶瑞电材(300655) - 2021 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2021 was ¥402,569,609.05, representing a 135.06% increase compared to ¥171,260,006.82 in the same period last year[9]. - Net profit attributable to shareholders was ¥23,030,250.85, a significant increase of 441.19% from ¥4,255,518.68 year-on-year[9]. - The net profit after deducting non-recurring gains and losses reached ¥20,923,225.79, marking a 2,766.53% increase from ¥729,914.96 in the previous year[9]. - Basic earnings per share rose to ¥0.1221, up 331.45% from ¥0.0283 in the same quarter last year[9]. - The company achieved operating revenue of CNY 402.57 million, a 135.06% increase compared to the same period last year[27]. - Operating costs rose to CNY 327.46 million, reflecting a 159.43% increase year-on-year[27]. - The net profit attributable to shareholders reached CNY 23.03 million, up 441.19% from the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 20.92 million, a staggering increase of 2,766.53% year-on-year[27]. - The total revenue for the current period is ¥89,805,192.62, an increase of 53.1% compared to ¥58,683,915.99 in the previous period[115]. - The net profit attributable to shareholders of the parent company is ¥23,030,250.85, up 441.5% from ¥4,255,518.68 in the previous period[114]. - Basic earnings per share for the current period is ¥0.1221, compared to ¥0.0283 in the previous period, reflecting a significant increase[114]. Assets and Liabilities - The company's total assets increased by 16.38% to ¥2,424,827,537.05 from ¥2,083,465,850.60 at the end of the previous year[9]. - As of March 31, 2021, the total assets of Suzhou Crystal Chemical Co., Ltd. amounted to CNY 2,424,827,537.05, an increase from CNY 2,083,465,850.60 as of December 31, 2020, representing a growth of approximately 16.4%[87]. - The company's total liabilities reached CNY 1,008,796,199.80, up from CNY 697,301,219.26, which is an increase of about 44.7%[91]. - The short-term borrowings increased to CNY 367,075,061.44 from CNY 158,893,937.48, indicating a rise of approximately 131.5%[91]. - The company's equity decreased slightly to CNY 1,416,031,337.25 from CNY 1,386,164,631.34, reflecting a decrease of about 2.1%[91]. Cash Flow - The net cash flow from operating activities was ¥21,969,488.68, a decrease of 10.68% from ¥24,597,360.05 in the same period last year[9]. - The company's cash flow from operating activities increased by 33.09% to CNY 255.58 million, driven by business scale expansion[26]. - The total cash inflow from operating activities is ¥255,578,137.94, compared to ¥192,027,686.66 in the previous period, showing a growth of 33.1%[121]. - The total cash outflow from operating activities is ¥233,608,649.26, an increase from ¥167,430,326.61 in the previous period, reflecting a rise of 39.5%[121]. - Operating cash flow generated a net outflow of -13,156,545.75 yuan, compared to a net inflow of 6,402,280.92 yuan in the previous period[127]. - Total cash and cash equivalents increased by 43,422,245.73 yuan, compared to a decrease of -56,067,317.19 yuan in the previous period[130]. - Cash and cash equivalents at the end of the period totaled 165,636,464.85 yuan, compared to 71,725,604.08 yuan at the end of the previous period[130]. Investments and Projects - The company announced the acquisition of 100% equity in Jingzhirui (Suzhou) Microelectronics Technology Co., Ltd. on March 2, 2021[68]. - The company decided to terminate the Zaiyuan Peierson NVP project due to significant changes in project feasibility, reallocating the unused raised funds of 20.01 million RMB to the high-purity sulfuric acid project for semiconductor production[73]. - The investment progress for the new annual production of 87,000 tons of optoelectronic display and semiconductor materials project is at 51.27%, with a total investment of 134.51 million RMB[74]. - The company reported a cumulative investment of 408.17 million RMB in various projects, with a total input of 12.99 million RMB during the reporting period[72]. Risks and Challenges - The company faces risks from market demand fluctuations and competition, particularly in the semiconductor and renewable energy sectors, which could lead to revenue and profit volatility[31]. - The company is exposed to safety and environmental risks due to the nature of its chemical products, which could impact operations if accidents occur[35]. - The company is at risk of bad debts from overdue accounts receivable, particularly from clients in the photovoltaic and lithium battery sectors[38]. - Supplier concentration poses a risk; if key suppliers fail to meet quality or delivery requirements, it could negatively impact business performance[48]. - The company is recognized as a high-tech enterprise, benefiting from a 15% corporate income tax rate until 2020; changes in tax policies could lead to increased tax liabilities and reduced net profit[50]. Research and Development - The company is actively engaging in research and development of new products, particularly in the field of photoresists, which is expected to impact future performance positively[90]. - Research and development expenses for the current period amount to ¥4,497,948.07, compared to ¥3,706,330.90 in the previous period, indicating a 21.3% increase[115]. - The company is also focusing on expanding its market presence and enhancing production capacity to meet increasing demand in the semiconductor industry[90].