天秦装备(300922) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was CNY 41,088,372.60, representing a 40.34% increase compared to CNY 29,278,553.71 in the same period last year[7]. - Net profit attributable to shareholders was CNY 15,643,279.25, a significant increase of 107.63% from CNY 7,534,365.99 year-on-year[7]. - The net profit after deducting non-recurring gains and losses reached CNY 13,911,637.12, up 124.90% from CNY 6,185,622.50 in the previous year[7]. - Basic earnings per share increased to CNY 0.14, a rise of 55.56% from CNY 0.09 in the same period last year[7]. - The total profit for Q1 2021 was CNY 18,575,773.16, compared to CNY 8,866,417.93 in Q1 2020, marking a substantial growth[48]. - The company's retained earnings increased from CNY 127,351,061.91 to CNY 142,994,341.16, a growth of approximately 12.5%[42]. - The company reported a credit impairment loss of CNY 2,917,860.70, an increase from CNY 1,644,803.63 in the previous year, indicating potential challenges in asset quality[48]. Cash Flow - The net cash flow from operating activities was CNY 38,343,499.76, reflecting a 57.80% increase compared to CNY 24,299,416.77 in the same period last year[7]. - The company achieved a net cash inflow from operating activities of CNY 69,374,580.02, compared to CNY 49,170,659.41 in the previous year, indicating strong cash generation capabilities[54]. - Total cash inflow from operating activities was CNY 75,143,484.89, up from CNY 53,235,411.54, reflecting a growth of 41% year-over-year[55]. - Cash outflow from operating activities totaled CNY 36,799,985.13, compared to CNY 28,935,994.77, representing a 27% increase[55]. - The company reported a net cash flow from investment activities of -CNY 219,727,364.00, significantly lower than -CNY 5,561,643.87 in the previous year[55]. - The ending balance of cash and cash equivalents was CNY 402,980,694.22, down from CNY 591,524,558.46 at the beginning of the period, reflecting a decrease of 32%[56]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 883,396,415.49, a decrease of 0.95% from CNY 891,879,354.57 at the end of the previous year[7]. - The total current assets were RMB 779.92 million, slightly down from RMB 787.25 million at the end of 2020, indicating a decrease of 0.4%[40]. - Non-current liabilities totaled CNY 4,429,182.90, an increase from CNY 3,874,342.96, reflecting a rise of approximately 14.3%[42]. - The total amount of accounts receivable decreased by 37.58% to 47,045,593.40 yuan, primarily due to the recovery of receivables from the previous year[15]. - Accounts payable decreased significantly from CNY 27,762,121.22 to CNY 16,398,377.50, a reduction of approximately 41.5%[41]. Government Subsidies and Taxation - The company received government subsidies amounting to CNY 2,037,226.03, with a net impact of CNY 1,731,642.13 after tax effects[8]. - The company reported a 120.15% increase in income tax expenses, totaling 2,932,493.91 yuan, due to higher operating profits[16]. - The company has received high-tech enterprise certification, allowing it to benefit from a reduced corporate income tax rate of 15% from 2018 to 2020[25]. - The company is closely monitoring changes in tax policies and actively developing new products to enhance innovation and profitability[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,546[11]. - The largest shareholder, Song Jinshuo, holds 34.69% of the shares, totaling 38,855,900 shares[11]. Research and Development - Research and development expenses amounted to CNY 2,092,700.45, up from CNY 1,890,259.46, indicating a focus on innovation[48]. - The company is actively expanding into new military and civilian markets, focusing on R&D for new products, including intelligent military protection devices[22]. Risks and Strategic Initiatives - The company faced risks related to the potential loss of core technical personnel, which could impact its competitive edge in the defense equipment sector[21]. - The company is actively pursuing new projects and products to maintain its technological leadership and mitigate risks associated with high customer concentration in the defense industry[21]. - The company has established stable cooperation with domestic military clients, becoming a preferred supplier, which minimizes the risk of customer turnover and loss[22]. - The company has a risk of losing necessary licenses for defense equipment production, which requires ongoing certification and renewal[28].