江天化学(300927) - 2021 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2021 was CNY 172,072,613.51, representing a 63.16% increase compared to CNY 105,461,681.82 in the same period last year[9] - Net profit attributable to shareholders was CNY 21,589,671.96, up 69.28% from CNY 12,753,930.76 year-on-year[9] - The net profit after deducting non-recurring gains and losses was CNY 19,930,029.10, reflecting a 67.38% increase from CNY 11,907,313.35 in the previous year[9] - The basic earnings per share increased by 26.98% to CNY 0.2692 from CNY 0.2120 in the same period last year[9] - The total profit for Q1 2021 was CNY 25,441,031.63, which is a 69.0% increase compared to CNY 15,042,037.17 in Q1 2020[48] - Operating profit for Q1 2021 was CNY 23,575,562.80, an increase of 67.9% from CNY 14,047,022.69 in the same quarter last year[48] Assets and Liabilities - The company's total assets decreased by 2.24% to CNY 744,096,907.80 from CNY 761,139,421.79 at the end of the previous year[9] - The total liabilities decreased to CNY 185,366,082.68 from CNY 223,475,420.85 at the end of 2020, indicating a reduction of approximately 16.9%[43] - Cash and cash equivalents decreased from 284,897,171.62 to 243,712,937.18, a decline of approximately 14.5%[37] - Accounts receivable increased from 57,886,583.59 to 65,201,657.48, reflecting an increase of about 12.8%[37] - Inventory rose from 31,558,981.69 to 33,707,699.73, indicating an increase of approximately 6.8%[37] - Short-term borrowings decreased from 20,000,000.00 to 10,000,000.00, a reduction of 50%[38] - Accounts payable decreased from 92,914,427.13 to 72,422,026.46, a decline of approximately 22.1%[38] Cash Flow - The net cash flow from operating activities was negative at CNY -17,092,173.12, a decline of 574.61% compared to CNY 3,601,300.92 in the same period last year[9] - Cash flow from operating activities showed a net outflow of 17.09 million yuan, a decrease of 2,069.35 million yuan compared to the previous year[21] - The company reported a cash flow from operating activities of CNY -17,092,173.12 for Q1 2021, compared to CNY 3,601,300.92 in Q1 2020, indicating a significant decline[55] - The company incurred cash outflows from investing activities amounting to CNY 3,822,952.99, compared to CNY 5,270,848.71 in the previous period[59] - Cash outflows from financing activities totaled CNY 20,135,336.11, which is an increase from CNY 11,531,913.34 in the prior period[60] Operating Costs and Expenses - The company’s operating costs amounted to 134.21 million yuan, with a significant increase attributed to rising raw material prices and increased production capacity[20] - Total operating costs for Q1 2021 were CNY 148,119,067.44, up 62.5% from CNY 91,150,635.59 in Q1 2020[46] - Sales expenses rose to 2.27 million yuan, up 128.89% due to increased performance bonuses for sales personnel and higher storage costs[20] - The company reported a financial expense of 1.82 million yuan, a 146.72% increase primarily due to interest expenses from long-term borrowings[20] - The company incurred financial expenses of CNY 1,834,969.19 in Q1 2021, which is an increase from CNY 753,390.52 in Q1 2020, primarily due to higher interest expenses[50] Investment and Strategic Plans - The company plans to optimize the use of raised funds to enhance operational efficiency and align with long-term strategic goals[25] - Total raised funds amounted to 22,847.78 million, with 3,372.7 million invested in the current quarter[28] - Cumulative investment from raised funds reached 3,372.7 million, with no changes in usage reported[28] - The company reported no significant changes in the feasibility of investment projects during the reporting period[31] Shareholder Information - The company has not engaged in any repurchase transactions among the top 10 shareholders during the reporting period[14] - The company’s top five suppliers accounted for 73.00% of total raw material and energy procurement, a decrease from 79.15% in the previous year[23] - The top five customers contributed 35.13% of total sales, slightly down from 35.47% in the same period last year[23] Research and Development - Research and development expenses for Q1 2021 were CNY 1,455,260.59, compared to CNY 1,138,233.70 in Q1 2020, reflecting a growth of 28.0%[46] - Research and development expenses for Q1 2021 were CNY 1,455,260.59, up from CNY 1,138,233.70 in the previous year, reflecting a focus on innovation[50] Miscellaneous - There were no violations of external guarantees or non-operating fund occupation by major shareholders during the reporting period[32] - The impact of exchange rate changes on cash and cash equivalents was negative CNY 87,042.22, compared to a positive impact of CNY 39,591.13 in the previous period[60] - The company did not adjust the initial balance sheet items for the new leasing standards, as the leasing activities pertained to short-term leases[61]