锦盛新材(300849) - 2021 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2021 was ¥64,581,744.24, representing a 0.95% increase compared to ¥63,975,960.19 in the same period last year[8] - Net profit attributable to shareholders decreased by 37.61% to ¥8,173,345.82 from ¥13,099,961.82 year-on-year[8] - The net profit after deducting non-recurring gains and losses fell by 64.84% to ¥4,386,272.57 compared to ¥12,475,087.59 in the previous year[8] - Basic and diluted earnings per share decreased by 52.94% to ¥0.08 from ¥0.17 year-on-year[8] - The weighted average return on equity was 1.17%, down from 3.48% in the previous year, a decrease of 2.31%[8] - The gross profit margin for Q1 2021 was 28.40%, down 13.73% from 42.13% in the same period last year, primarily due to rising raw material prices and increased labor costs[19] - The company reported a net profit margin decline due to increased operating costs, impacting overall profitability[41] - The net profit for Q1 2021 was CNY 8,173,345.82, down from CNY 13,099,961.82 in the same period last year, representing a decrease of approximately 37.1%[44] - The company reported a total profit of CNY 9,139,393.67 for Q1 2021, down from CNY 15,081,621.28 in the previous year, indicating a decline of approximately 39.4%[44] Cash Flow - The net cash flow from operating activities was negative at -¥3,295,048.31, a decline of 170.72% from ¥4,659,593.60 in the same period last year[8] - Cash flow from operating activities was -3.30 million RMB, a 170.72% decline compared to 46.60 million RMB in Q1 2020[18] - The company's cash and cash equivalents increased to CNY 157,051,519.22 from CNY 135,437,581.63 at the end of 2020, representing a growth of approximately 15%[34] - Cash and cash equivalents at the end of the period totaled 157,051,519.22 CNY, up from 110,301,613.19 CNY in the previous period[51] - The cash flow from financing activities was negative at -65,387.32 CNY, reflecting cash outflows for debt repayment and interest payments[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥744,998,717.17, a slight increase of 0.54% from ¥740,999,805.53 at the end of the previous year[8] - Net assets attributable to shareholders increased by 1.17% to ¥705,372,483.48 from ¥697,199,137.66 at the end of the previous year[8] - The total liabilities decreased to CNY 39,626,233.69 as of March 31, 2021, down from CNY 43,800,667.87 at the end of 2020, a reduction of approximately 9.5%[40] - The total equity attributable to shareholders increased to CNY 705,372,483.48 as of March 31, 2021, compared to CNY 697,199,137.66 at the end of 2020, an increase of about 1.7%[37] Investment Activities - Cash flow from investing activities was 244.72 million RMB, a significant increase from -37.78 million RMB in the same period last year, mainly due to increased investment in fundraising projects[18] - The company has invested a total of CNY 15,994.02 million in fundraising projects, with a project completion rate of 72.87% for the new production line of cosmetic packaging containers[27] - The company plans to increase production capacity by 15 million sets of cosmetic packaging containers annually by 2022[27] - The company reported a 66.08% reduction in credit impairment losses, amounting to -345.50 thousand RMB compared to -1.02 million RMB in Q1 2020[17] Operational Challenges - The company faced risks from exchange rate fluctuations, as foreign sales accounted for 53.44% of total revenue in Q1 2021[21] - The company is addressing rising raw material prices by enhancing product quality and reducing material consumption[22] - Labor cost pressures are being mitigated through technological upgrades and increased automation[23] Research and Development - Research and development expenses for Q1 2021 were CNY 2,842,831.34, slightly up from CNY 2,661,425.45 in Q1 2020, indicating a focus on innovation[41] - Research and development expenses for Q1 2021 were CNY 2,843,874.88, slightly up from CNY 2,661,425.45 in the previous period[46]