Yanjan(SZ:300658)2020-04-27 16:00Financial Performance - Total operating revenue for Q1 2020 was CNY 274,456,358.63, an increase of 17.89% compared to CNY 232,797,564.37 in the same period last year[7]. - Net profit attributable to shareholders was CNY 38,893,562.98, representing a significant increase of 344.81% from CNY 8,743,886.53 year-on-year[7]. - Net profit attributable to shareholders after deducting non-recurring gains and losses reached CNY 36,498,667.09, up 755.80% from CNY 4,264,860.18 in the previous year[7]. - Basic earnings per share for Q1 2020 was CNY 0.2564, up 339.79% from CNY 0.0583 in the previous year[7]. - The company reported a significant increase in cash and cash equivalents, rising by 35.01% to ¥385,830,454.78 due to substantial operating profit growth and prepayments for meltblown non-woven fabric products[15]. - The company's operating profit surged by 516.41% to ¥46,901,755.19, driven by strong demand for meltblown fabric and growth in existing core business[17]. - The company achieved a 68.54% increase in cash received from sales, totaling ¥413,415,848.98, primarily due to increased sales revenue and prepayment collection for meltblown non-woven fabric[18]. - The company reported a comprehensive income total of CNY 42,321,498.89 for Q1 2020, compared to CNY 7,314,312.71 in the previous period[45]. - The net profit for Q1 2020 reached CNY 40,287,857.04, significantly up from CNY 7,196,777.27 in the same period last year, representing a growth of approximately 460%[44]. Cash Flow and Investments - Net cash flow from operating activities was CNY 152,967,731.97, a remarkable increase of 434.57% compared to CNY 28,614,946.19 in the same period last year[7]. - Cash flow from operating activities generated CNY 152,967,731.97, a substantial increase from CNY 28,614,946.19 in the previous year, marking an increase of approximately 434.5%[52]. - Investment activities resulted in a net cash outflow of CNY -83,339,573.25, an improvement from CNY -121,923,999.28 in the same period last year[52]. - The net cash flow from investment activities was -75,031,365.74 CNY, a decrease from -118,338,702.65 CNY in the previous year[56]. - Cash inflow from financing activities totaled 138,238,189.60 CNY, compared to 116,724,535.34 CNY in the same period last year, representing a 18.5% increase[56]. - The cash inflow from investment activities was 107,436,848.19 CNY, compared to 82,848,208.22 CNY in the previous year, indicating a 29.7% increase[56]. - Cash outflow for investment activities was 182,468,213.93 CNY, down from 201,186,910.87 CNY year-over-year, reflecting a 9.4% decrease[56]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,676,159,532.30, an increase of 9.60% from CNY 1,529,356,989.92 at the end of the previous year[7]. - Total liabilities increased to CNY 735,527,029.94 from CNY 634,129,521.99 year-over-year[43]. - Total liabilities increased to ¥784,078,381.50 from ¥680,922,036.36, reflecting a rise of approximately 15.2%[36]. - The company's total assets reached ¥1,676,159,532.30, compared to ¥1,529,356,989.92, representing a growth of about 9.6%[37]. - Current assets increased to ¥897,610,986.68 as of March 31, 2020, up from ¥789,216,050.70 on December 31, 2019, representing a growth of approximately 13.7%[34]. - Non-current assets totaled ¥778,548,545.62, up from ¥740,140,939.22, indicating an increase of approximately 5.2%[35]. - Total equity rose to CNY 872,026,321.81, up from CNY 840,200,681.56 in the previous period[43]. - The company's equity attributable to shareholders rose to ¥882,626,310.53 from ¥840,521,208.91, an increase of about 5%[37]. Shareholder Information - The company had a total of 14,611 common shareholders at the end of the reporting period[11]. - The company received government subsidies amounting to CNY 1,826,410.76 during the reporting period[8]. Market and Operational Insights - The company successfully developed and began selling meltblown non-woven fabric in mid-February 2020, addressing the surge in demand for mask production materials[20]. - The company is focusing on enhancing domestic market services, particularly for small and medium-sized clients, while understanding the challenges faced by these clients due to the pandemic[23]. - The company anticipates potential risks related to the melt-blown non-woven fabric market, including demand uncertainty and possible price declines as production capacity increases[23]. - The company is actively optimizing global governance and expanding its global market presence, adapting strategies to local conditions for different subsidiaries[22]. - The company plans to accelerate the construction of fundraising projects and optimize production capacity despite delays caused by the pandemic[21]. - The project for producing 22,000 tons of perforated non-woven fabric has passed fire acceptance and is expected to be operational in the second quarter of 2020[27]. Other Financial Metrics - Research and development expenses for Q1 2020 were CNY 5,906,867.72, down from CNY 7,747,321.67 in the previous period[43]. - The company’s long-term borrowings increased to CNY 132,750,000.00 from CNY 66,400,000.00 year-over-year[43]. - The company’s financial expenses decreased by 77.00% to ¥1,716,635.90, primarily due to foreign exchange gains from the appreciation of the US dollar[16]. - The company reported a 365.10% increase in interest income, reaching ¥1,480,198.73, due to a rise in cash and cash equivalents[16]. - The company paid CNY 42,653,574.15 in employee compensation, which increased from CNY 33,223,274.02 in Q1 2019, reflecting a growth of approximately 28.5%[52]. Compliance and Standards - The company did not apply new revenue and leasing standards for the first quarter of 2020[57]. - The first quarter report was not audited[58].