延江股份(300658) - 2021 Q1 - 季度财报

Financial Performance - Revenue for Q1 2021 was CNY 296,583,656.56, an increase of 8.06% compared to CNY 274,456,358.63 in the same period last year[10] - Net profit attributable to shareholders decreased by 84.03% to CNY 6,212,367.40 from CNY 38,893,562.98 year-on-year[10] - Basic and diluted earnings per share fell by 84.01% to CNY 0.041 from CNY 0.2564 in the same period last year[10] - The total profit for the period was CNY 9,657,486.62, a decrease of 79.90% compared to the previous year, influenced by high shipping costs and normalization of meltblown fabric prices[19] - The net profit for Q1 2021 was CNY 7.84 million, a decrease of 80.5% from CNY 40.29 million in Q1 2020[49] - The total comprehensive income for Q1 2021 was CNY 9.58 million, compared to CNY 42.32 million in Q1 2020, reflecting a decline of 77.4%[50] Cash Flow - Net cash flow from operating activities dropped by 72.90% to CNY 41,458,352.30 compared to CNY 152,967,731.97 in the previous year[10] - Cash flow from operating activities showed a significant decline of 72.90%, totaling CNY 41,458,352.30, due to reduced prepayments compared to the previous year[21] - Total cash inflow from investment activities was CNY 363,424,304.09, significantly up from CNY 106,439,137.23 in the previous period[57] - The net cash flow from investment activities was CNY 16,105,525.92, recovering from a negative CNY 83,339,573.25 in the previous period[57] - The net cash flow from financing activities was CNY 21,756,231.00, down from CNY 30,929,056.20 in the previous period[58] Assets and Liabilities - Total assets increased by 1.38% to CNY 2,000,624,097.20 from CNY 1,973,354,374.96 at the end of the previous year[10] - Total liabilities increased to CNY 882,765,488.35 from CNY 866,345,216.09, indicating a rise of about 1.5%[41] - Current liabilities totaled CNY 622,641,623.52, a decrease from CNY 635,694,105.28, showing a reduction of approximately 2.3%[41] - Non-current liabilities rose to CNY 260,123,864.83 from CNY 230,651,110.81, marking an increase of around 12.7%[41] - The company's total current assets decreased slightly to RMB 1,083,629,608.08 from RMB 1,089,980,644.86 as of December 31, 2020, indicating a decline of about 0.6%[39] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,963[14] - Major shareholder Xie Jihua holds 26.58% of shares, with 30,259,537 shares pledged[14] - Net assets attributable to shareholders rose by 0.84% to CNY 1,102,810,301.34 compared to CNY 1,093,590,612.70 at the end of last year[10] Research and Development - Research and development expenses increased by 68.29% to CNY 9,940,545.56, reflecting greater investment in R&D projects during the quarter[19] - The company is enhancing product performance and accelerating new product development, including pure cotton non-woven fabric and spunbond non-woven fabric[25] Market Strategy - The company is optimizing its global layout and actively expanding into markets in the Americas, Europe, Africa, and the Middle East[24] - The company has implemented a pricing adjustment mechanism with major clients to mitigate the impact of fluctuating production costs[23] - The company is increasing efforts to develop and serve small and medium-sized domestic clients to adapt to market fragmentation trends[25] - The company is adjusting its marketing and production operations to better meet the needs of small batch and diverse product demands[25] Risks and Challenges - The company is facing risks from macroeconomic fluctuations, intensified industry competition, and raw material price volatility, and plans to hedge these risks through various strategies[25] Fundraising and Investments - The company is expediting refinancing efforts to ensure sufficient operational funding, with a planned fundraising of up to 400 million CNY[26] - The total amount of raised funds is 434.03 million CNY, with 39.04 million CNY already invested, representing 89.96% of the total[29] - The company has utilized RMB 40,418,153.83 of raised funds to replace pre-invested self-raised funds for its fundraising investment projects, with independent verification conducted by PwC[31] Operational Changes - The company has completed the relocation of its production facilities, which had previously affected operational efficiency and incurred additional costs[22] - The company is advancing operational preparations for subsidiaries in Singapore, Hungary, and Egypt[25] - The company has completed the construction of its non-woven fabric project, which has passed fire safety acceptance[29] Other Information - The company has not reported any violations regarding external guarantees during the reporting period[33] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[34] - The arbitration regarding the construction project is still ongoing, with the company awaiting the final results to proceed with project settlement[30]