JIANGNAN CHEMICAL(002226)2021-04-26 16:00Financial Performance - The company's operating revenue for Q1 2021 was ¥1,000,394,102.16, representing a 73.59% increase compared to ¥576,293,742.50 in the same period last year[8]. - Net profit attributable to shareholders was ¥131,150,937.73, a significant increase of 472.74% from ¥22,898,798.23 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥122,099,457.01, up 252.18% from ¥34,669,546.27 year-on-year[8]. - Basic and diluted earnings per share were both ¥0.105, reflecting a 473.77% increase from ¥0.0183 in the same period last year[8]. - The weighted average return on equity was 2.05%, an increase of 1.67% compared to 0.38% in the previous year[8]. - The operating cost for the reporting period was CNY 613,236,741.14, reflecting a 71.76% increase year-on-year due to the recovery from the impact of COVID-19[17]. - The income tax expense for the reporting period was CNY 35,516,269.67, a substantial increase of 544.06% year-on-year due to higher profit levels[20]. - The total profit for Q1 2021 was CNY 193,536,829.52, compared to CNY 32,484,088.45 in the same period last year, indicating an increase of 497.5%[106]. Assets and Liabilities - The total assets at the end of the reporting period were ¥12,241,897,056.60, a decrease of 2.63% from ¥12,572,399,683.86 at the end of the previous year[8]. - The total liabilities decreased from ¥5,527,477,111.33 in 2020 to ¥5,039,877,829.84 in Q1 2021, reflecting a reduction of approximately 8.8%[97]. - The company's total equity increased to ¥7,202,019,226.76 from ¥7,044,922,572.53, representing a growth of about 2.2%[97]. - The total current assets amounted to CNY 4,128,258,695.51, while total non-current assets were CNY 8,444,140,988.35, leading to total assets of CNY 12,572,399,683.86[125]. - The company reported a decrease in fixed assets by CNY 588,424,431.68[125]. Cash Flow - The company reported a net cash flow from operating activities of ¥353.54, a 100% decrease compared to ¥12,651,308.76 in the previous year[8]. - Cash inflow from operating activities totaled 980,993,519.86 CNY, significantly up from 547,791,127.59 CNY in the previous period[116]. - Cash outflow from operating activities was 980,993,166.32 CNY, compared to 535,139,818.83 CNY in the previous period[116]. - The ending cash and cash equivalents balance was 707,730,041.74 CNY, up from 583,526,281.31 CNY in the previous period[117]. - The total cash inflow from financing activities was CNY 526,491,760.90, resulting in a net cash flow of CNY 447,700,605.70 after outflows[122]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,777, with the top ten shareholders holding significant stakes, including Northern Special Energy Group at 21.82%[10]. - The company raised a total of RMB 976,800,000 through a private placement of 120,000,000 shares at a price of RMB 8.14 per share, with a net amount of RMB 954,540,800 after deducting issuance costs[82]. Research and Development - Research and development expenses increased by 132.30% to CNY 12,152,131.51, indicating a strong focus on technological innovation[17]. - The company plans to invest 100 million CNY in R&D for new technologies aimed at improving production efficiency[49]. - The company is investing 30 million yuan in R&D for new technologies aimed at enhancing production efficiency[75]. Strategic Plans and Market Expansion - The company plans to acquire 100% equity of Beifang Blasting Technology Co., Ltd. and 49% equity of two other companies through share issuance[21]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2022[49]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[49]. - Market expansion plans include entering two new provinces by the end of 2021, targeting a 25% increase in market share[77]. Corporate Governance and Competition - The company is committed to avoiding any substantial competition with its controlling shareholder in the explosives industry, ensuring independent operational decision-making[26]. - The controlling party will take necessary measures to prevent unfair competition and respect the company's independent management rights[28]. - The company guarantees that its senior management will not hold positions in other companies controlled by the controlling party, ensuring independence[44]. - The company will strictly adhere to market principles in all transactions with its controlling shareholder and related parties[41]. - The commitment to avoid competition and ensure fair practices will remain effective as long as the controlling party is considered a related party[43].