Richful(SZ:300910)2021-04-25 16:00Financial Performance - The company's revenue for the first quarter of 2021 was ¥246,685,994.38, representing a 49.74% increase compared to ¥164,742,770.55 in the same period last year[6]. - Net profit attributable to shareholders was ¥58,867,300.35, a significant increase of 120.22% from ¥26,731,243.29 year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥57,895,172.21, up 112.98% from ¥27,183,884.52 in the previous year[6]. - The basic earnings per share increased to ¥0.39, reflecting a growth of 62.50% compared to ¥0.24 in the same period last year[6]. - The company's operating revenue for Q1 2021 was approximately ¥246.69 million, representing a 49.74% increase compared to ¥164.74 million in Q1 2020[21]. - The company achieved operating revenue of 246.686 million yuan, a year-on-year increase of 49.74%[25]. - Net profit attributable to shareholders reached 58.8673 million yuan, up 120.22% compared to the same period last year[25]. - The net profit after deducting non-recurring gains and losses was 57.8952 million yuan, reflecting a growth of 112.98% year-on-year[25]. - Operating profit for the current period was ¥68,780,448.65, compared to ¥32,632,618.58 in the previous period, representing a growth of about 110.6%[67]. - The company achieved a total profit of ¥68,431,940.45 for the current period, compared to ¥31,294,742.09 in the previous period, representing an increase of approximately 118.8%[67]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,342,532,693.12, a 1.70% increase from ¥2,303,332,450.80 at the end of the previous year[6]. - Current assets increased to ¥2,015,554,364.04 as of March 31, 2021, up from ¥1,981,202,483.55 on December 31, 2020, representing a growth of approximately 1.5%[52]. - Total liabilities decreased to ¥206,726,227.26 from ¥226,393,285.29, a reduction of about 8.7%[56]. - Total liabilities decreased from ¥222,138,824.50 to ¥205,976,923.88, reflecting a reduction of approximately 7.4%[62]. - Total equity increased from ¥2,087,120,087.08 to ¥2,144,023,675.24, marking a growth of about 2.7%[62]. - Total assets reached ¥2,342,532,693.12, compared to ¥2,303,332,450.80, showing an increase of approximately 1.7%[54]. - Total liabilities were reported at ¥222.14 billion, reflecting a decrease of ¥221.87 million[89]. - Total equity stood at ¥2,087.12 billion, unchanged from the previous reporting period[89]. Cash Flow - The net cash flow from operating activities was -¥13,179,652.72, which is a 162.16% increase in cash outflow compared to -¥5,027,343.52 in the same period last year[6]. - Cash flow from operating activities showed a net outflow of -13,179,652.72, worsening from -5,027,343.52 in the previous period[77]. - The company generated cash inflow from operating activities totaling 237,927,848.03, up from 135,675,660.56, marking an increase of approximately 75.4%[77]. - The net cash flow from financing activities was -5,461,702.01, an improvement from -23,139,703.86 in the prior year[78]. - The ending cash and cash equivalents balance was 1,534,544,880.43, up from 394,706,110.74, showing a substantial increase of approximately 288.5%[78]. - The company reported a significant increase in cash and cash equivalents, which may provide opportunities for future investments or acquisitions[83]. Research and Development - Research and development expenses increased by 106.05% to approximately ¥7.06 million in Q1 2021, up from ¥3.43 million in Q1 2020, indicating a significant investment in innovation[21]. - The company plans to increase R&D investment in 2021, focusing on the certification of composite agents and achieving breakthroughs in various product certifications[26]. Market Strategy - The company plans to continue expanding its market presence and enhancing product competitiveness, driven by increased domestic demand and import substitution trends[21]. - The company aims to maintain rapid sales growth domestically and achieve record exports, targeting strategic cooperation with international mainstream lubricant companies[26]. - The company plans to increase its focus on core market demands and expand both domestic and international markets[43]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,801[10]. - The largest shareholder, China Petroleum & Chemical Corporation, held 37.22% of the shares, amounting to 55,833,133 shares[10]. Risks and Compliance - The company faces risks related to the certification of composite products, raw material price fluctuations, and exchange rate volatility, with specific measures in place to mitigate these risks[29][30][31]. - The company has no violations regarding external guarantees during the reporting period[44]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[45]. Investment and Funding - The total amount of funds raised was RMB 113,475.00 million, with a net amount of RMB 104,183.36 million after deducting issuance costs[38]. - The company allocated RMB 13,000.00 million for the construction of a lubricating oil additive research center and RMB 3,500.00 million for the technical transformation project of producing 15,200 tons of lubricating oil additives annually[38]. - Cumulative investment in the lubricating oil additive research center project reached RMB 11.85 million, while the cumulative investment for permanent working capital was RMB 21,000.00 million[39]. - The total amount of oversubscribed funds was RMB 70,183.36 million[38]. - The company has achieved 100% of the planned investment for permanent working capital[39].