Financial Performance - The company's revenue for Q1 2021 was ¥140,105,840.14, representing a 48.26% increase compared to ¥94,498,630.50 in the same period last year[8] - Net profit attributable to shareholders was ¥5,665,259.78, a 69.91% increase from ¥3,334,220.89 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥5,359,848.05, up 73.56% from ¥3,088,112.97 in the previous year[8] - The basic earnings per share increased by 70.00% to ¥0.0629 from ¥0.0370 in the same period last year[8] - The total profit reached ¥7,321,794.43, up 63.18% compared to the previous year[18] - The company's operating income for Q1 2021 was CNY 117,068,658.83, an increase from CNY 94,498,630.50 in the previous period[42] - The net profit for Q1 2021 reached CNY 5,665,259.78, compared to CNY 3,334,220.89 in the same period last year, representing a growth of approximately 70.1%[40] - Basic earnings per share for Q1 2021 were CNY 0.0629, up from CNY 0.0370 in the previous year, indicating a rise of 69.5%[40] - The total profit for Q1 2021 was CNY 7,321,794.43, an increase from CNY 4,486,939.54 in the previous year, reflecting a growth of about 63.5%[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥759,078,084.77, a 3.08% increase from ¥736,416,721.67 at the end of the previous year[8] - The company's total assets as of March 31, 2021, amounted to ¥669,055,465.18, compared to ¥632,132,589.00 at the end of 2020, showing an increase of about 5.8%[34] - The total liabilities as of March 31, 2021, were ¥174,605,987.01, up from ¥142,100,931.90 at the end of 2020, representing an increase of approximately 23.0%[35] - The total equity attributable to shareholders reached ¥494,449,478.17 as of March 31, 2021, compared to ¥490,031,657.10 at the end of 2020, a slight increase of about 0.9%[35] Cash Flow - The net cash flow from operating activities was negative at -¥50,110,737.92, a decline of 196.88% compared to -¥16,879,102.95 in the previous year[8] - The cash flow from operating activities for Q1 2021 was negative at CNY -50,110,737.92, worsening from CNY -16,879,102.95 in the previous year[47] - Cash inflows from operating activities totaled 74,423,870.39 CNY, while cash outflows amounted to 115,751,086.42 CNY, resulting in a negative cash flow from operations[50] - The company's operating cash flow for the first quarter was -41,327,216.03 CNY, compared to -13,026,252.70 CNY in the same period last year, indicating a significant decline in cash generation from operations[50] - Total cash and cash equivalents at the end of the quarter were 5,500,958.52 CNY, down from 23,691,754.63 CNY year-over-year, reflecting a decrease of approximately 76.8%[48] Research and Development - Research and development expenses increased by 42.85% to ¥7,859,404.85, reflecting ongoing investment in R&D[16] - Research and development expenses for Q1 2021 were CNY 5,493,868.00, slightly down from CNY 5,501,860.92 in the previous year[42] Market and Competition - The company has seen an increase in orders compared to the same period last year, driven by the recovery of global oil prices and domestic economic development[18] - The company is the first in China to obtain API6A certification for Inconel625 materials, which is expected to lead to new orders in the high-end oil and gas manufacturing equipment market[18] - The company is collaborating on multiple projects in the nuclear power sector, including with the Fangchenggang and Sanmen nuclear power plants[18] - The company is taking measures to optimize product structure and reduce reliance on the oil and gas industry by expanding into nuclear power, environmental protection, and new energy sectors[20] - The company faces market competition risks due to increasing domestic participants in the high-temperature corrosion-resistant alloy industry[19] - The company is exposed to risks from rising raw material prices, particularly cobalt and nickel, which could impact profit margins if product prices cannot be adjusted accordingly[19] Operational Challenges - The company experienced a significant decrease in cash and cash equivalents, down 73.02% to ¥14,066,921.93 due to slower collection of receivables[16] - The company has surpassed a production capacity of 4,000 tons of high-temperature corrosion-resistant alloys, but still faces risks related to production capacity and delivery timelines[20] - The company reported a net credit impairment loss of ¥-2,838,022.36 in Q1 2021, compared to a gain of ¥744,222.40 in Q1 2020, indicating a significant change in credit quality[38] Other Financial Metrics - The company's weighted average return on equity was 1.07%, up from 0.69% in the previous year[8] - The company reported a decrease in sales revenue from 67,482,590.87 CNY to 74,290,823.06 CNY, indicating a year-over-year growth in sales[50] - The company's financial asset impairment loss was CNY -1,766,518.55, compared to a gain of CNY 744,222.40 in the previous year[43] - The total comprehensive income for Q1 2021 was CNY 5,665,259.78, up from CNY 3,334,220.89 in the previous year, indicating a growth of approximately 70.1%[44] - The company's sales expenses for Q1 2021 were CNY 4,126,777.33, a decrease from CNY 4,616,931.34 in the previous year[42] - The company invested 129,922.18 CNY in fixed assets during the quarter, a decrease from 921,031.34 CNY in the same period last year, indicating a reduction in capital expenditures[50] - The net cash flow from investment activities was -129,922.18 CNY, compared to -821,031.34 CNY in the previous year, showing a smaller outflow in investments[50] - The company experienced a foreign exchange loss of -132,234.47 CNY, which impacted the overall cash position[51] - The total cash inflow from financing activities was 15,000,000.00 CNY, while cash outflows for financing activities were 492,395.83 CNY, leading to a net positive cash flow[51] - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[52]
中洲特材(300963) - 2021 Q1 - 季度财报