怡达股份(300721) - 2021 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2021 was CNY 299,490,300.64, representing a 65.17% increase compared to CNY 181,321,536.69 in the same period last year[8] - Net profit attributable to shareholders was CNY 18,464,591.24, a significant increase of 383.01% from a loss of CNY 6,524,372.46 in the previous year[8] - The basic earnings per share rose to CNY 0.2213, compared to a loss of CNY 0.0820 in the same quarter last year, marking a 369.93% improvement[8] - The company's net profit for the first quarter was ¥18,278,740.22, a turnaround from a loss of -¥6,609,474.30 in the same period last year, marking a 376.55% increase[19] - Operating profit for Q1 2021 was CNY 23,268,603.93, compared to a loss of CNY 8,419,567.53 in the same period last year[57] - Net profit for Q1 2021 reached CNY 18,278,740.22, a significant recovery from a net loss of CNY 6,609,474.30 in the previous year[57] Assets and Liabilities - The company's total assets increased by 6.65% to CNY 2,386,092,163.27 from CNY 2,237,355,972.56 at the end of the previous year[8] - The total liabilities decreased to CNY 1,324,390,667.17 from CNY 1,349,880,035.92, indicating a reduction of 1.9%[49] - The owner's equity increased to CNY 1,061,701,496.10, compared to CNY 887,475,936.64, representing a growth of 19.6%[50] - The total non-current assets amounted to CNY 1,707,473,254.49, compared to CNY 1,678,629,019.90, showing a growth of 1.7%[50] Cash Flow - The net cash flow from operating activities improved by 69.32%, reaching -CNY 16,568,447.53, compared to -CNY 54,009,336.88 in the same period last year[8] - Cash inflow from operating activities was CNY 301,414,751.26, compared to CNY 167,661,085.57 in the previous period[64] - The total cash inflow from operating activities was 286,042,932.51 CNY, a substantial increase from 121,837,832.84 CNY in the previous period, representing an increase of about 134%[67] - The company reported a cash outflow of 438,357,477.48 CNY from operating activities, compared to 184,441,825.90 CNY in the previous period, indicating a significant increase in cash outflow[67] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,349[12] - The top shareholder, Liu Zhun, holds 20.90% of the shares, amounting to 18,050,360 shares, with 930,752 shares pledged[12] Investments and Projects - The company plans to build a propylene oxide project with an annual production capacity of 150,000 tons to reduce product cost fluctuations and enhance profitability[27] - The company has successfully mastered the technology for producing propylene oxide using the hydrogen peroxide direct oxidation method, with a pilot test achieving an annual production of 1,000 tons[27] - The company has completed the capital increase for its wholly-owned subsidiary, Zhuhai Storage, and obtained a port operation license, allowing it to engage in cargo storage services[32] Government Support and Taxation - The company received government subsidies amounting to CNY 907,514.80 during the reporting period[9] - The company has been recognized as a high-tech enterprise, which qualifies it for a reduced corporate income tax rate of 15% for three years[33] Risks and Challenges - The company faces risks related to raw material price fluctuations, which could significantly impact operational performance if not managed effectively[26] - The company faces risks related to the successful operation of the propylene oxide project and potential market price fluctuations that could impact financial performance[27] - The company has a significant financing requirement for the propylene oxide project, which may increase short-term debt pressure if expected benefits are not realized[27] Operational Metrics - Accounts receivable increased by 40.43% to ¥142,954,814.68 from ¥101,798,606.61, mainly due to the rise in operating income[18] - The gross profit margin improved significantly, contributing to a profit total of ¥23,137,985.41, compared to a loss of -¥8,512,226.65 in the previous year, reflecting a 371.82% increase[19] - The company's management expenses rose by 83.24% to ¥11,365,184.54, mainly due to increased losses from downtime and depreciation of fixed assets[19] Environmental and Compliance - The company emphasizes environmental protection and has established strict pollution control measures, although future regulatory changes may increase environmental compliance costs[28]