JSHX(600307)2021-04-29 16:00Financial Performance - Operating revenue surged by 78.48% to CNY 10.49 billion year-on-year[11] - Net profit attributable to shareholders reached CNY 475.98 million, a significant recovery from a loss of CNY 279.13 million in the same period last year[11] - Basic and diluted earnings per share were CNY 0.0760, recovering from a loss of CNY 0.0446 per share in the same period last year[11] - The company's net profit for Q1 2021 reached ¥476,098,080.36, compared to a net loss of ¥279,134,039.21 in Q1 2020[37] - The operating profit for Q1 2021 was ¥690,253,228.12, a significant recovery from a loss of ¥334,112,603.11 in the same period last year[37] - The company reported a total profit of ¥603,000,771.49 for Q1 2021, compared to a total loss of ¥332,705,126.14 in Q1 2020[37] Cash Flow and Liquidity - Net cash flow from operating activities improved to CNY 192.96 million, compared to a negative cash flow of CNY 218.60 million in the previous year[11] - Cash flow from operating activities for Q1 2021 was ¥192,958,141.28, a recovery from a negative cash flow of ¥218,603,961.93 in Q1 2020[42] - The total cash inflow from operating activities was CNY 4.99 billion, while cash outflow was CNY 4.47 billion, resulting in a net cash flow of CNY 517.45 million[45] - Cash and cash equivalents decreased by 30.44% compared to the beginning of the year, primarily due to the repayment of letters of credit and acceptance bills[18] - Cash and cash equivalents at the end of Q1 2021 stood at CNY 1.88 billion, a decrease from CNY 2.77 billion at the end of Q1 2020, indicating a cash reduction of about 32.3%[47] Assets and Liabilities - Total assets increased by 2.48% to CNY 42.47 billion compared to the end of the previous year[11] - The company’s total net assets attributable to shareholders increased by 3.96% to CNY 12.81 billion compared to the end of the previous year[11] - Total liabilities amounted to ¥29,669,068,614.38, up from ¥29,098,481,643.22, indicating a rise of about 1.96%[35] - Non-current liabilities totaled ¥3,282,295,884.85, compared to ¥1,926,001,098.71, representing a significant increase of about 70.5%[35] - Long-term borrowings increased by 105.60% compared to the beginning of the year, aimed at optimizing the financing structure[18] Revenue and Costs - Total operating revenue for Q1 2021 reached ¥10,492,373,150.62, a significant increase from ¥5,878,800,565.10 in Q1 2020, representing an increase of approximately 78.5%[35] - Total operating costs for Q1 2021 were ¥9,875,100,567.03, compared to ¥6,218,761,564.24 in Q1 2020, reflecting a year-over-year increase of about 58.5%[35] - Operating revenue increased by 78.48% compared to the previous period, primarily due to higher steel sales[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 242,373[15] Other Income and Expenses - Government subsidies recognized in the current period amounted to CNY 269,258.27[11] - Other non-operating income and expenses resulted in a net loss of CNY 13.82 million after tax impacts[11] Inventory and Receivables - Accounts receivable and financing increased by 25.18% year-on-year, mainly due to increased steel sales[18] - Prepayments increased by 48.11% compared to the beginning of the year, primarily due to higher prepaid electricity and transportation costs[18] - Inventory increased by 27.34% year-on-year, mainly due to temporary increases caused by the Spring Festival holiday and winter construction stoppages[18] - Other receivables increased by 54.30% year-on-year, primarily due to the payment of futures margin[18] Expenses - Tax expenses increased by 336.89% year-on-year, mainly due to increased profits affecting tax liabilities[18] - The company’s management expenses increased to ¥190,254,082.27 in Q1 2021 from ¥135,386,132.09 in Q1 2020, marking a 40.5% increase[37] - Research and development expenses decreased to ¥113,884,670.73 in Q1 2021 from ¥128,100,767.01 in Q1 2020, reflecting an 11.5% reduction[37] - The company's financial expenses decreased to ¥194,164,887.09 in Q1 2021 from ¥200,980,720.47 in Q1 2020, indicating a 3.9% decline[37] Financing Activities - The company raised CNY 6.86 billion from financing activities in Q1 2021, up from CNY 3.78 billion in Q1 2020, reflecting a growth of approximately 81.5%[47] - The net cash flow from financing activities was negative CNY 1.36 billion in Q1 2021, an improvement from a negative CNY 2.05 billion in Q1 2020, indicating better cash management[47] - The company repaid CNY 5.09 billion in debt during Q1 2021, compared to CNY 4.45 billion in Q1 2020, which shows an increase in debt repayment by approximately 14.5%[47]