Yanjan(SZ:300658)2021-06-14 16:00Financial Performance - The company's revenue for Q1 2021 was CNY 296,583,656.56, representing 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 dropped by 84.01% to CNY 0.041 from CNY 0.2564 in the same period last year[10]. - The total profit decreased by 79.90% to CNY 9,657,486.62, attributed to the normalization of meltblown fabric prices and high export shipping costs[19]. - Total comprehensive income for Q1 2021 was CNY 9,580,888.27, down from CNY 42,321,498.89 in the previous year[50]. - Net profit for Q1 2021 was CNY 7,842,128.74, down from CNY 40,287,857.04 in the same period last year, indicating a decline of approximately 80.5%[49]. Cash Flow - The net cash flow from operating activities fell by 73.03% to CNY 41,257,404.74, down from CNY 152,967,731.97 in the previous year[10]. - Cash flow from operating activities showed a net outflow of CNY 41,257,404.74, a decrease of 73.03% compared to the previous year, due to reduced prepayments[21]. - Cash received from investment activities increased by 241.44% to CNY 363,424,304.09, mainly from matured investment products[21]. - Operating cash inflow totaled ¥328,680,381.59, down from ¥430,036,187.40 in the previous period, representing a decrease of approximately 23.6%[57]. - The company reported a net increase in cash and cash equivalents of ¥79,892,877.41, down from ¥100,551,770.24 in the previous period[58]. Assets and Liabilities - Total assets increased by 1.38% to CNY 2,000,624,097.20 compared to CNY 1,973,354,374.96 at the end of the previous year[10]. - Total liabilities amounted to CNY 882,765,488.35, compared to CNY 866,345,216.09 in the previous period[41]. - Current liabilities totaled CNY 622,641,623.52, a decrease from CNY 635,694,105.28[41]. - Non-current liabilities increased to CNY 260,123,864.83 from CNY 230,651,110.81[41]. - The company's total non-current assets were CNY 916,994,489.12, up from CNY 883,373,730.10[42]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,963[14]. - Major shareholders include Xie Jihua with a 26.58% stake and Xie Jiquan with a 13.29% stake[14]. - The total equity attributable to shareholders was CNY 1,093,590,612.70, showing a slight decrease of CNY 264,280.64 from the previous period[65]. Operational Changes and Strategies - 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 completed the relocation of its production facilities, which had previously impacted operational efficiency and incurred additional costs[22]. - The company is adjusting its marketing and production operations to better meet the "small batch, multiple varieties" demand from clients[25]. - The company is focusing on developing and servicing small and medium-sized domestic clients to adapt to market fragmentation trends[25]. - The company plans to raise up to 400 million CNY through a targeted stock issuance to support its business operations[26]. Research and Development - Research and development expenses increased by 59.82% to CNY 9,440,545.56, reflecting greater investment in R&D projects during the first quarter[19]. - The company has increased R&D investment in existing product processes and performance, with new products like cotton non-woven fabric and spunbond non-woven fabric in development[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]. - The company is currently involved in arbitration regarding delays in project completion by the contractor, which may impact future project timelines and financial outcomes[30].