兆丰股份(300695) - 2021 Q1 - 季度财报

Financial Performance - Revenue for Q1 2021 was CNY 134,035,828.49, an increase of 8.54% compared to CNY 123,491,985.31 in the same period last year[9] - Net profit attributable to shareholders was CNY 35,348,445.86, a decrease of 15.78% from CNY 41,971,267.15 year-on-year[9] - Net profit excluding non-recurring gains and losses was CNY 31,272,287.08, down 27.94% from CNY 43,397,279.23 in the previous year[9] - Basic earnings per share decreased to CNY 0.53, down 15.87% from CNY 0.63 year-on-year[9] - The company reported a revenue of RMB 134.04 million for Q1 2021, an increase of 8.54% compared to RMB 123.49 million in Q1 2020[19] - The net profit attributable to shareholders was RMB 31.27 million, a decrease of 27.94% from RMB 43.40 million in the same period last year[19] - Operating profit for Q1 2021 was CNY 40,169,059.87, down from CNY 51,605,465.20 year-over-year, representing a decline of approximately 22.4%[55] - Net profit for Q1 2021 was CNY 33,619,363.73, compared to CNY 42,002,456.41 in the same period last year, reflecting a decrease of about 20.0%[55] - The total profit for Q1 2021 was CNY 40,119,859.74, down from CNY 49,479,905.46 year-over-year, a decline of approximately 18.5%[55] - The company reported a decrease in total comprehensive income to CNY 33,619,363.73 from CNY 42,002,456.41 in the previous year, a drop of about 20.0%[56] Cash Flow - Net cash flow from operating activities was negative CNY 9,641,973.38, a decline of 128.90% compared to CNY 33,360,473.00 in the same period last year[9] - The total cash inflow from operating activities was CNY 149,611,371.19, an increase of 3.7% compared to CNY 144,017,572.52 in the previous period[63] - The cash outflow for purchasing goods and services was CNY 125,092,900.99, which is a significant increase from CNY 79,063,132.04 in the prior period[63] - The cash inflow from investment activities totaled CNY 23,498,596.91, a substantial increase from CNY 161,370.00 in the previous period[67] - The cash outflow for acquiring fixed assets and other long-term assets was CNY 43,536,756.91, down from CNY 58,806,690.04 in the prior period[67] - The net cash flow from investment activities was CNY -29,038,160.00, an improvement from CNY -59,343,200.67 in the previous period[67] - The cash and cash equivalents at the end of the period were CNY 1,105,054,238.28, down from CNY 1,342,673,923.04 in the previous period[64] - The net increase in cash and cash equivalents was CNY -37,249,542.49, compared to CNY -24,693,149.78 in the prior period[64] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,328,255,688.19, an increase of 4.32% from CNY 2,231,755,304.43 at the end of the previous year[9] - Total liabilities amounted to CNY 412,129,302.75, an increase from CNY 385,248,282.72[47] - Owner's equity totaled CNY 1,916,126,385.44, compared to CNY 1,846,507,021.71 in the previous year[48] - Accounts receivable increased to CNY 248,302,770.49 from CNY 225,278,231.49 at the end of 2020[45] - Inventory levels rose to CNY 158,798,925.13, compared to CNY 105,390,496.56 at the end of 2020[45] Shareholder Information - The top three shareholders hold a combined 74.99% of the shares, with the largest shareholder owning 36.13%[13] - There were no significant changes in the number of shareholders or any repurchase transactions during the reporting period[14] Government and Subsidies - The company reported a government subsidy of CNY 3,899,577.91 during the reporting period[10] Research and Development - The company has obtained three new patents, including one invention patent and two utility model patents, enhancing its technological capabilities[21] - Research and development expenses for Q1 2021 amounted to CNY 7,879,949.66, an increase from CNY 7,015,988.29 in the prior year, indicating a growth of approximately 12.3%[55] Business Strategy and Risks - The company aims to balance domestic and international business development, focusing on sustainable growth in the new economic landscape[19] - The company is facing risks from macroeconomic fluctuations, which could impact product competitiveness and profitability[24] - The company has a high accounts receivable balance, which poses a risk of bad debts if the economic impact of COVID-19 persists[27] - The concentration of sales to the top five customers is high, which could pose risks if any major customer faces financial difficulties[28] - The company is actively monitoring the impact of the COVID-19 pandemic on its operations and is adjusting strategies accordingly[26] - The company is implementing measures to mitigate risks from fluctuating raw material prices and potential declines in gross margin[29] - The company is engaging in foreign exchange hedging to manage risks associated with currency fluctuations[30] Investments and Projects - The company plans to invest up to 600 million yuan in projects for producing 480,000 sets of maintenance-free hub bearing units and 2.3 million sets of new energy vehicle hub bearing units[33] - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance project, valid for 12 months from February 5, 2021[33] - The annual production capacity expansion project for 3.6 million automotive hub bearing units has seen an investment progress of 63.89% as of December 31, 2021[36] - The electric vehicle hub motor drive and control system R&D project has a total commitment of CNY 16,939 million, with no changes in project status[37] - The cumulative investment in the project for the intelligent factory construction of precision forged automotive hub bearing units is CNY 22,726 million, achieving 46.50% of the planned investment[37] - The company established a joint venture, Shaanxi Shaqi Zhaofeng Technology Co., Ltd., with a registered capital contribution of CNY 7,200 million[38]