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建元信托(600816) - 2020 Q3 - 季度财报
2020-10-30 16:00
Financial Performance - Net profit attributable to shareholders of the listed company for the first nine months was a loss of ¥3,815,048,155.14, compared to a loss of ¥345,314,377.27 in the same period last year, representing a decline of 1,004.80%[6] - Basic earnings per share for the first nine months was -¥0.6976, a decrease of 1,005.55% compared to -¥0.0631 in the same period last year[6] - The weighted average return on net assets was -66.66%, a decrease of 63.86 percentage points compared to -2.80% in the same period last year[6] - Total operating revenue for the first nine months was ¥117,249,857.77, a decrease of 77.83% compared to the same period last year[6] - Total operating revenue for Q3 2020 was ¥44,996,297.12, a decrease of 41.5% compared to ¥77,214,955.71 in Q3 2019[21] - The company reported a significant drop in commission income by 80.2% to ¥67,607,802.11, primarily due to a decrease in recognized trust service fees[12] - The company experienced a substantial decline in investment income, reporting a loss of ¥22,843,526.72 for the first three quarters of 2020[22] - The total comprehensive loss for Q3 2020 was ¥958,709,055.49, compared to a loss of ¥357,156,427.79 in Q3 2019[24] - The net loss for Q3 2020 was -978,539,694.16 RMB, compared to a net loss of -369,723,791.20 RMB in Q3 2019, representing a deterioration of approximately 164.5%[27] - The total profit (loss) for Q3 2020 was -1,306,237,244.12 RMB, compared to -514,756,778.48 RMB in Q3 2019, indicating a worsening of approximately 153.5%[26] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥20,333,294,645.98, a decrease of 2.21% compared to the end of the previous year[5] - Total liabilities increased to ¥15,809,728,456.87 from ¥12,454,564,918.86, representing a significant rise of approximately 27.5%[17] - The total equity attributable to shareholders decreased to ¥3,815,859,829.08 from ¥7,630,907,984.22, a decline of approximately 50%[17] - The company's long-term liabilities, specifically estimated liabilities, increased to ¥2,487,031,534.20 from ¥1,049,699,790.08, reflecting an increase of about 137.5%[19] - The total current liabilities rose to ¥13,322,696,922.67 from ¥11,404,865,128.78, an increase of approximately 17%[16] - The company's non-current assets totaled ¥13,271,227,687.62, down from ¥13,561,507,504.44, a decrease of about 2.1%[16] - The company's total financial investments, including trading financial assets, amounted to ¥8,259,233,251.06, down from ¥8,432,120,453.39, a decrease of approximately 2%[19] Cash Flow - Net cash flow from operating activities for the first nine months was ¥2,481,996,629.76, an increase of 2,319.45% compared to the same period last year[6] - The company's net cash flow from operating activities reached ¥2,481,996,629.76, a significant increase of 2319.45% compared to the previous period[13] - Cash flow from operating activities for the first three quarters of 2020 was 2,481,996,629.76 RMB, a significant improvement from -111,829,418.51 RMB in the same period of 2019[29] - The net cash flow from operating activities for Q3 2020 was approximately ¥2,255 million, a significant increase compared to ¥161 million in Q3 2019[31] - The total cash inflow from investment activities was approximately ¥33.64 million, while cash outflow was approximately ¥2,315 million, resulting in a net cash flow from investment activities of approximately -¥2,282 million[32] - The net cash flow from financing activities was -¥258 million, compared to a positive cash flow of approximately ¥27 million in the same period last year[32] - The company reported a significant decrease in cash received from operating activities, totaling approximately ¥2,531 million in Q3 2020, down from ¥5,502 million in Q3 2019[31] - The cash paid for interest, fees, and commissions in Q3 2020 was approximately ¥39.78 million, a decrease from ¥209.70 million in Q3 2019[31] - The cash received from other operating activities was approximately ¥2,306 million, down from ¥6,993 million in the previous year[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 88,655, with the top ten shareholders holding 52.44% of the shares[9] - The largest shareholder, Shanghai Guozhijie Investment Development Co., Ltd., held 2,867,929,342 shares, representing 52.44% of the total shares, with a portion of shares frozen[9] Financial Ratios and Estimates - The company expects a net loss for the year 2020, with financial asset impairment losses and fair value changes estimated at approximately ¥3.505 billion[13] - Interest income fell by 73.52% to ¥49,642,055.66, mainly due to a decrease in interest income from consolidated structured entities[12] - Interest expenses increased by 111.34% to ¥836,482,438.42, due to enhanced liquidity support from banks[12] - The company incurred a credit impairment loss of 664,457,635.58 RMB in Q3 2020, compared to 234,877,611.23 RMB in Q3 2019, reflecting an increase of about 182.8%[26] - The company reported a significant increase in financial expenses, with interest expenses in Q3 2020 at ¥333,653,867.03, compared to ¥91,490,949.06 in Q3 2019[21]
建元信托(600816) - 2020 Q2 - 季度财报
2020-08-30 16:00
Financial Performance - Total revenue for the first half of 2020 was ¥72,253,560.65, a decrease of 84% compared to ¥451,668,033.66 in the same period last year[13]. - Net profit attributable to shareholders was a loss of ¥2,856,488,958.79, compared to a profit of ¥11,575,714.02 in the previous year, representing a decline of 24,776.57%[13]. - Basic earnings per share for the first half of 2020 was -¥0.5223, a decrease of 24,971.43% compared to ¥0.0021 in the same period last year[14]. - The company reported a net loss of ¥5,522,101,331.10 for the period, compared to a loss of ¥2,665,612,372.31 in the previous year[86]. - The company’s total profit (loss) for the first half of 2020 was RMB -3,822,667,957.63, contrasting with a profit of RMB 18,579,061.82 in the first half of 2019, showing a drastic decline in profitability[92]. - The company reported a comprehensive loss of RMB 2,864,898,910.29 for the first half of 2020, indicating significant financial challenges during this period[104]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥2,468,129,102.92, a significant improvement from a negative cash flow of ¥294,074,135.83 in the same period last year, marking a 939.29% increase[13]. - The total cash inflow from operating activities was approximately ¥2.49 billion, down from ¥5.02 billion in the first half of 2019, indicating a decrease of about 50%[98]. - The cash outflow from investing activities was approximately ¥2.32 billion, compared to ¥1.93 billion in the same period of 2019, reflecting an increase of about 20%[98]. - The company reported a cash inflow from financing activities of approximately ¥62.77 million, with cash outflows for financing activities totaling approximately ¥193.92 million[98]. - The company’s cash and cash equivalents at the end of the period amounted to CNY 260,534,211.44, an increase from CNY 222,211,158.60 at the beginning of the period, reflecting a growth of approximately 17.2%[175]. Asset and Liability Management - Total assets decreased by 3.87% to ¥19,988,092,923.78 from ¥20,793,667,846.30 at the end of the previous year[13]. - Net assets attributable to shareholders decreased by 37.43% to ¥4,774,419,025.43 from ¥7,630,907,984.22 at the end of the previous year[13]. - The company's total liabilities rose from ¥9,727,081,149.55 to ¥13,183,387,729.80, reflecting an increase of approximately 35.56%[88]. - The total equity attributable to shareholders decreased from ¥7,630,907,984.22 to ¥4,774,419,025.43, a decline of approximately 37.88%[86]. - The total liabilities and equity at the end of the first half of 2020 amounted to CNY 12,322,853,801.23, reflecting the company's financial structure[103]. Risk Management - The company has indicated that it will continue to face various risks, including credit risk, market risk, liquidity risk, and operational risk[9]. - The company has actively engaged in risk resolution measures, including restructuring efforts and asset recovery strategies, to address liquidity risks[24]. - The company has established a risk management framework that includes strict client admission standards and dynamic management of counterparties to mitigate credit risk[43]. - The company is focused on risk prevention and resolution, maintaining a stable operational order amid increasing regulatory scrutiny in the trust industry[23]. - The company has identified various financial risks, including credit risk, market risk, liquidity risk, and operational risk, and has implemented comprehensive risk management policies[42]. Regulatory Compliance and Legal Issues - The company has faced significant uncertainties regarding its ability to continue as a going concern due to consecutive years of substantial losses[9]. - The company has not confirmed any expected liabilities related to ongoing litigation and other off-balance-sheet trust projects[9]. - The company faced 28 lawsuits related to guaranteed commitments, involving a principal amount of RMB 10.539 billion as of December 31, 2019[56]. - The China Banking and Insurance Regulatory Commission imposed regulatory measures on Anxin Trust, including a fine of RMB 14 million and a suspension of self-managed fund trust business[64]. - As of June 30, 2020, the company had 42 ongoing lawsuits, with overdue liabilities from proprietary business reaching RMB 5.65 billion[65]. Investment and Business Strategy - The company aims to enhance its active management capabilities and upgrade its risk control system to better serve the real economy[22]. - The company has established an industry layout system focusing on urban renewal, biomedicine, internet infrastructure, high-end elderly care, modern agriculture, and new energy[22]. - The company plans to maintain its "industrial investment bank" positioning to provide comprehensive and personalized financial services to real enterprises[22]. - The company actively seeks to provide value-added services to invested enterprises, exploring various exit strategies such as mergers, restructuring, and public listings[45]. - The company has made significant equity investments in various financial institutions, including a 4.1597% stake in Yingkou Bank and a 3.85% stake in Bohai Life Insurance[39]. Accounting Policies and Financial Reporting - The company adheres to the accounting policies and estimates in accordance with the Ministry of Finance's accounting standards, ensuring a true and complete representation of its financial status[113]. - The company recognizes revenue when it is probable that economic benefits will flow to the company and the amount can be reliably measured, with specific conditions for different types of income[152]. - The company does not apply accounting policies for share-based payments and other financial instruments such as preferred shares and perpetual bonds[152]. - The company has not made any changes to important accounting policies or estimates in the current reporting period[173]. - The company’s accounting currency is Renminbi (RMB)[114].
建元信托(600816) - 2019 Q4 - 年度财报
2020-04-29 16:00
Financial Performance - The company reported a net profit attributable to shareholders of -3,992.83 million RMB for 2019, a decrease of 117.85% compared to -1,832.80 million RMB in 2018[16]. - Total operating income for 2019 was 478.14 million RMB, down 79.07% from 2,284.92 million RMB in 2018[16]. - Basic earnings per share for 2019 were -0.7301 RMB, a decline of 117.88% from -0.3351 RMB in 2018[17]. - The weighted average return on net assets was -41.55% in 2019, a decrease of 28.01 percentage points from -13.54% in 2018[17]. - The company reported total operating revenue of CNY 478,140,150.91 for 2019, a decrease of 79.07% year-on-year[31]. - The net profit attributable to shareholders was CNY -399,282.78 million, reflecting a year-on-year decline of 117.85%[31]. - The company reported a net loss of RMB 39.94 billion for 2019, following a net loss of RMB 18.34 billion in 2018, marking two consecutive years of significant losses[63]. - The company reported a net loss of CNY 3,994,103,142.23 in 2019, compared to a net loss of CNY 1,833,903,571.58 in 2018, reflecting an increase in losses[143]. Cash Flow and Liquidity - The company's net cash flow from operating activities improved to 703.31 million RMB, a 127.75% increase from -2,534.05 million RMB in the previous year[16]. - The net cash flow from operating activities increased by 127.75% to ¥703,308,790.38 from -¥2,534,048,351.03, primarily due to an increase in borrowed funds from the trust industry protection fund[36]. - Cash flow from operating activities was 703,308,790.38 RMB, a recovery from -2,534,048,351.03 RMB in the previous year[147]. - The company’s net cash flow from investing activities decreased by 396.26% to -¥1,183,218,720.38 from ¥399,384,957.74, indicating a net outflow in external investments[36]. - The ending cash and cash equivalents balance was 196,641,702.60 RMB, down from 616,311,632.60 RMB at the beginning of the year[148]. Assets and Liabilities - The total assets decreased by 34.06% to 20,793.67 million RMB at the end of 2019, compared to 31,536.20 million RMB at the end of 2018[16]. - The total assets amounted to CNY 2,079,366.78 million, a reduction of CNY 1,074,253.41 million from the beginning of the year[31]. - The company’s asset-liability ratio stood at 59.90% as of December 31, 2019[31]. - The total liabilities increased to CNY 9,727,081,149.55 from CNY 7,698,589,816.34, representing a rise of about 26.5%[141]. - The overdue liabilities of the company's proprietary business amounted to RMB 24.00 billion[63]. - The total liabilities included restricted assets amounting to ¥10.43 billion, which includes litigation freezes and pledged guarantees[41]. Risk Management - The company has detailed risk factors including credit risk, market risk, liquidity risk, and operational risk in its management discussion[6]. - The company is committed to enhancing its risk management and compliance mechanisms in response to regulatory pressures and market uncertainties[30]. - The company has established a comprehensive risk management framework addressing credit risk, market risk, liquidity risk, and operational risk, with specific measures for each category[53]. - The company plans to strengthen risk management across various types of risks, including credit, liquidity, market, and operational risks, to ensure quality business development[48]. - The company has conducted monthly liquidity risk assessments for trust projects, focusing on those maturing within six months to prevent liquidity crises[53]. Regulatory and Legal Issues - The company faced 28 lawsuits related to guaranteed commitments, with a total principal amount involved of RMB 10.539 billion as of December 31, 2019[62]. - The company has been subject to regulatory measures from the China Banking and Insurance Regulatory Commission due to liquidity risks and unfulfilled trust project payments[63]. - The audit firm, Lixin Certified Public Accountants, has issued a qualified opinion due to the inability to obtain sufficient audit evidence regarding potential liabilities and commitments[66]. - The company is under regulatory scrutiny, having received a decision from the China Banking and Insurance Regulatory Commission regarding five major internal control deficiencies[128]. Corporate Governance - The company has a board-approved compensation and performance assessment system in place[109]. - The board of directors consists of 6 members, including 1 chairman and 3 independent directors, enhancing governance and risk management[117]. - The company identified significant deficiencies in its internal control system, with ongoing rectification efforts and a focus on improving risk identification and management capabilities[117]. - The company has maintained a consistent approach to remuneration, ensuring that it reflects the company's overall performance[109]. Investment and Business Strategy - The company aims to provide comprehensive and personalized financial services through its active management trust business model[27]. - The company’s strategy focuses on combining industry and finance, aiming for stable investment returns while seeking synergistic development effects[27]. - The company aims to enhance its service capabilities in wealth management, charity trusts, and pension-related financial products as part of its future development strategy[42]. - The trust industry is expected to benefit from regulatory policies aimed at reducing systemic financial risks and promoting healthy competition under a unified regulatory framework[42]. Employee and Training Initiatives - The total number of employees in the parent company is 466, with 18 retired employees requiring financial support[111]. - The company conducted 115 training sessions in 2019, covering 12,171 participants, with a total training duration of 337.5 hours[113]. - The company has implemented a training program specifically for wealth management center team leaders to enhance management skills[114]. Financial Reporting and Accounting Policies - The company has adopted new accounting policies effective from January 1, 2019, impacting the measurement of financial instruments[171]. - The audit report indicates that the company has not provided sufficient evidence regarding the impact of guarantees and commitments, leading to uncertainty in the financial statements[132]. - The company prepares consolidated financial statements, treating the entire corporate group as a single accounting entity[163].
建元信托(600816) - 2020 Q1 - 季度财报
2020-04-29 16:00
Financial Performance - Total operating revenue for the period was CNY 45,395,865.02, a decrease of 75.98% year-on-year[4] - Net profit attributable to shareholders of the listed company was CNY -665,452,527.79, a decline of 313.21% compared to the same period last year[4] - Basic and diluted earnings per share were both CNY -0.1217, reflecting a decrease of 313.13% year-on-year[5] - The weighted average return on equity was -9.12%, a decrease of 103.72 percentage points compared to the previous year[4] - The company anticipates a significant change in cumulative net profit for the year, potentially leading to losses due to liquidity risks from unfulfilled trust projects and related litigation[12] - The total operating revenue for Q1 2020 was -476,901,534.28 CNY, compared to 525,353,987.78 CNY in Q1 2019, indicating a significant decline[23] - The net profit for Q1 2020 was -665,452,527.79 CNY, while the net profit for Q1 2019 was 311,884,676.34 CNY, reflecting a substantial loss[21] - The basic and diluted earnings per share for Q1 2020 were both -0.1217 CNY, compared to 0.0571 CNY in Q1 2019[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 20,251,064,761.45, a decrease of 2.61% compared to the end of the previous year[4] - The total assets decreased from ¥20,793,667,846.30 to ¥20,251,064,761.45, reflecting a decline in overall asset value[15] - The total liabilities increased from ¥11,404,865,128.78 to ¥11,527,714,571.72, indicating a rise in financial obligations[15] - The total liabilities amounted to CNY 12,577,414,361.80 as of March 31, 2020, compared to CNY 12,454,564,918.86 at the end of 2019, marking an increase of approximately 1%[18] - The company's total equity decreased to CNY 7,673,650,399.65 from CNY 8,339,102,927.44, representing a decline of approximately 8%[18] - The company’s total equity attributable to shareholders decreased to CNY 6,965,455,456.43 from CNY 7,630,907,984.22, reflecting a decline of about 8.7%[18] Cash Flow - Net cash flow from operating activities was CNY 171,948,432.03, an increase of 138.80% compared to the same period last year[4] - The net cash flow from operating activities changed from ¥171,948,432.03 to -¥443,115,246.17, an increase of 138.80% primarily due to loan recoveries from structured entities[11] - Net cash flow from operating activities for Q1 2020 was ¥171,948,432.03, a significant improvement from -¥443,115,246.17 in Q1 2019[25] - Cash inflow from operating activities totaled ¥165,955,855.22, compared to ¥853,418,115.90 in the same period last year, indicating a decrease of approximately 80.6%[25] - Cash outflow from operating activities was -¥5,992,576.81, a drastic reduction from -¥1,296,533,362.07 in Q1 2019[25] - Net cash flow from investing activities improved from ¥33,149,744.59 to -¥60,635,392.52, an increase of 154.67% due to net inflows from investments in structured entities[11] - Net cash flow from investing activities was ¥33,149,744.59, recovering from -¥60,635,392.52 in the previous year[26] - The net increase in cash and cash equivalents for Q1 2020 was ¥66,098,176.62, contrasting with a decrease of -¥478,519,714.48 in Q1 2019[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 116,022[8] - The largest shareholder, Shanghai Guozhijie Investment Development Co., Ltd., held 52.44% of the shares, with 2,867,929,342 shares frozen[8] Income and Expenses - The company reported a non-operating income and expenses of CNY -200,000.00 for the period[7] - Commission and fee income decreased significantly from ¥7,172,385.51 to ¥154,095,615.63, a decline of 95.35% attributed to reduced recognized income under accounting standards[11] - Interest expenses rose dramatically from ¥68,853,111.09 to ¥214,034,523.39, an increase of 210.86% due to increased borrowings from the trust guarantee fund[11] - Investment income improved from -¥47,973,640.83 to -¥243,484,678.37, a reduction in loss by 80.30% due to decreased losses from the disposal of financial assets[11] - The total operating costs for Q1 2020 were CNY 272,083,900.15, up from CNY 154,213,956.87 in Q1 2019, indicating an increase of approximately 76%[19] - The total operating expenses for Q1 2020 were 423,845,270.24 CNY, significantly higher than 99,650,437.96 CNY in Q1 2019[24] - The tax expenses for Q1 2020 were -226,545,371.17 CNY, compared to 111,297,057.46 CNY in Q1 2019[24] - The company reported a fair value change loss of -338,702,247.43 CNY in Q1 2020, contrasting with a gain of 651,914,661.52 CNY in Q1 2019[20] - The credit impairment loss for Q1 2020 was -278,433,975.57 CNY, compared to -20,018,332.69 CNY in Q1 2019, indicating a significant increase in credit risk[20]
建元信托(600816) - 2019 Q3 - 季度财报
2019-10-30 16:00
Financial Performance - Operating revenue for the first nine months fell by 80.48% to CNY 528.88 million year-on-year[4] - Net profit attributable to shareholders was a loss of CNY 345.31 million, a decrease of 1,533.59% compared to the same period last year[4] - Basic and diluted earnings per share were both -CNY 0.0631, a decrease of 1,534.09% year-on-year[4] - Total operating revenue for Q3 2019 was ¥77,214,955.71, a decrease from ¥387,387,281.62 in Q3 2018, representing a decline of approximately 80%[26] - Net profit for Q3 2019 was a loss of ¥357,156,427.79, compared to a profit of ¥24,087,323.59 in Q3 2018, marking a significant decline[29] - The company’s total profit for Q3 2019 was a loss of ¥502,189,415.07, compared to a profit of ¥50,272,307.77 in Q3 2018[28] - The company reported a total cash inflow from investment activities of ¥2,347,255,646.85 in the first nine months of 2019, a significant decrease from ¥22,726,640,926.64 in the same period of 2018[34] - The company incurred a credit impairment loss of ¥234,877,611.23 in Q3 2019, reflecting ongoing challenges in credit management[32] Cash Flow - Net cash flow from operating activities showed a significant decline of 104.15%, resulting in a negative cash flow of CNY 111.83 million[4] - Net cash flow from operating activities decreased by 104.15% to -¥111,829,418.51 from ¥2,694,147,305.55 year-on-year[15] - The net cash flow from operating activities for the first nine months of 2019 was negative at ¥111,829,418.51, a decline from a positive cash flow of ¥2,694,147,305.55 in the same period of 2018[34] - The net cash flow from financing activities turned positive at ¥27,942,834.98, a significant recovery from -¥3,136,237,588.58 in the previous year[15] - The net cash flow from financing activities for Q3 2019 was positive at ¥27,942,834.98, contrasting with a negative cash flow of ¥3,136,237,588.58 in Q3 2018[35] - The net cash flow from investment activities was -¥585,720,850.01, compared to -¥2,589,796,069.43 in the same period last year, showing an improvement of 77.6%[37] Assets and Liabilities - Total assets decreased by 5.53% to CNY 29.79 billion compared to the end of the previous year[4] - Total assets decreased from ¥31,536,201,940.49 to ¥29,791,039,494.21, a decline of approximately 5.5% year-over-year[21] - Non-current assets decreased from ¥23,554,694,807.27 to ¥16,292,755,932.84, representing a decrease of about 30.9%[21] - Total liabilities decreased from ¥18,814,782,546.10 to ¥16,932,231,797.63, reflecting a decline of about 10%[21] - The total liabilities increased to ¥18,814,782,546.10 from ¥18,248,235,493.06, reflecting an increase of 3.1%[40] - The total liabilities rose to approximately $7.70 billion, an increase of $566.55 million compared to the previous period[43] Shareholder Information - The total number of shareholders at the end of the reporting period was 125,438[7] - The largest shareholder, Shanghai Guozhijie Investment Development Co., Ltd., held 52.44% of the shares, with 2,867,929,342 shares[7] Income and Expenses - The company reported a significant increase in non-operating income, with a total of CNY 104.30 million for the year-to-date[6] - Total interest income decreased by 37.81% to ¥187,501,519.43 compared to ¥301,481,108.99 in the previous year[11] - Interest expenses increased by 48.03% to ¥395,801,525.21 from ¥267,372,854.52 year-on-year[11] - Commission income dropped significantly by 85.82% to ¥341,381,469.94 from ¥2,407,431,367.84 in the previous year[12] - Investment losses amounted to ¥198,395,931.99, a significant increase from a loss of ¥1,538,151.09 in the previous year[12] - The company reported a decrease in interest and commission income to ¥552,054,281.20 from ¥1,564,156,427.46, a decline of 64.7%[37] Equity - Owner's equity increased from ¥12,721,419,394.39 to ¥12,858,807,696.58, an increase of approximately 1.1%[21] - Owner's equity decreased to approximately $12.05 billion, down from $12.50 billion, reflecting a change of $453.33 million[43] - The total equity attributable to shareholders decreased to ¥12,011,949,119.20 from ¥12,500,447,545.74, a decline of 3.91%[40] Accounting Changes - The company executed new financial instrument accounting standards, leading to significant reclassifications in financial assets and liabilities[10] - The company adjusted its accounting policies effective January 1, 2019, impacting the financial statements[41]
建元信托(600816) - 2019 Q2 - 季度财报
2019-08-30 16:00
Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥134.22 million, a decrease of 91.68% compared to ¥1.61 billion in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2019 was approximately ¥11.58 million, down 98.93% from ¥1.08 billion in the previous year[17]. - The basic earnings per share for the first half of 2019 was ¥0.0021, a decline of 98.94% compared to ¥0.1972 in the same period last year[17]. - The weighted average return on net assets decreased to 0.09%, down 6.86 percentage points from 6.95% in the previous year[17]. - The net cash flow from operating activities was negative at approximately -¥294.07 million, a decrease of 123.98% compared to ¥1.23 billion in the same period last year[17]. - The total assets at the end of the reporting period were approximately ¥29.81 billion, a decrease of 5.48% from ¥31.54 billion at the end of the previous year[17]. - The net assets attributable to shareholders increased by 4.12% to approximately ¥12.51 billion from ¥12.01 billion at the end of the previous year[17]. - The company reported a significant decrease in government subsidies, impacting other income[34]. - The company’s net profit for the first half of 2019 was CNY 2,237,454,788.91, compared to CNY 1,770,231,415.11 in the same period last year, representing a growth of 26.4%[104]. - The total profit for the first half of 2019 was CNY 18,579,061.82, a decrease of 98.7% from CNY 1,456,539,290.46 in the same period of 2018[107]. Revenue and Income Sources - The company's commission and fee income for the first half of 2019 was 284.40 million yuan, down from 2,061.39 million yuan in the first half of 2018[21]. - The company's investment income for the first half of 2019 was -211.28 million yuan, compared to -72.34 million yuan in the same period of 2018[20]. - The company's net interest income for the first half of 2019 was -137.04 million yuan, a significant decrease from 65.34 million yuan in the same period of 2018[20]. - Interest income decreased by 35.70% to CNY 167.27 million, while interest expenses increased by 56.22% to CNY 304.31 million[32]. - The company reported an investment loss of CNY -211,278,491.63, compared to a loss of CNY -72,337,277.90 in the previous year[107]. Risk Management and Strategy - The company has adjusted its business strategy to focus on safety, liquidity, and low risk, in response to tightening market conditions and regulatory changes[28]. - The company has established a professional talent team and effective risk control system to enhance its operational capabilities[25]. - Credit risk management strategies include strict customer admission standards and dynamic management of counterparties to mitigate potential losses[45]. - The company is actively addressing operational risks by controlling incremental risks and managing asset disposals[30]. - The company has implemented a compliance culture to enhance risk awareness among employees[30]. Asset Management - Over 50% of the company's trust assets were directed towards the real economy in the first half of 2019, with the proportion of actively managed business further increasing[28]. - The company maintained an active management scale ratio of over 60% in recent years, emphasizing its core competitive advantage in proactive management[24]. - The company has established strategic partnerships with multiple financial institutions to secure credit lines and liquidity support as a safeguard against liquidity risks[49]. - The company has upgraded its investment supervision system to enhance the management of real estate projects, focusing on financial data and operational metrics[52]. Financial Position and Liabilities - The total liabilities amounted to CNY 16,591,934,398.21, a decrease of 11.8% from CNY 18,814,782,546.10 in the previous period[101]. - The total amount of guarantees provided during the reporting period (excluding guarantees to subsidiaries) is 700,000,000.00[77]. - The company has not provided any guarantees for shareholders, actual controllers, or related parties, with a total of 0[77]. - The company has returned interbank borrowings of ¥2,450,000,000, reflecting a significant reduction in liabilities[37]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve increase for the first half of 2019, indicating a focus on reinvestment[58]. - The company has committed not to use its shareholder status to seek preferential treatment or transactions with Anxin Trust, ensuring compliance with relevant laws and regulations[60]. - The company has fulfilled its commitment regarding the non-transfer of shares acquired in the private placement for a period of 60 months from the end of the issuance[60]. - The company has maintained a good integrity status, with no unfulfilled court judgments during the reporting period[65]. Accounting and Financial Reporting - The company has executed new financial instrument standards and new financial statement formats since January 1, 2019, with no impact on total assets, total liabilities, net assets, or net profit[80]. - The company has prepared its financial statements in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status and operating results[135]. - The company recognizes and measures financial assets based on its business model and cash flow characteristics, classifying them into different categories[145]. - The company has adopted new financial instrument standards, revenue recognition standards, and lease standards, affecting the initial financial statement items[200].
建元信托(600816) - 2018 Q4 - 年度财报
2019-05-16 16:00
Financial Performance - In 2018, the company reported a net profit attributable to shareholders of -1,832,796,150.45 RMB, a decrease of 149.96% compared to the previous year[5]. - The operating revenue for 2018 was 204,650,071.45 RMB, reflecting a significant decline of 96.34% year-over-year[20]. - The net cash flow from operating activities was -2,534,048,351.03 RMB, a decrease of 246.47% compared to 2017[20]. - Basic earnings per share for 2018 was -0.3351 yuan, a decrease of 149.96% compared to 0.6708 yuan in 2017[21]. - Diluted earnings per share for 2018 was also -0.3351 yuan, reflecting the same percentage decrease as basic earnings[21]. - The weighted average return on equity dropped to -13.54% in 2018, down 38.77 percentage points from 25.23% in 2017[21]. - The company reported a significant decrease in trading financial assets, with a change of -4.54 billion yuan in total fair value measurement projects[27]. - The company reported a net loss of CNY 1,833,903,571.58 for 2018, compared to a net profit of CNY 3,668,212,257.98 in the previous year, marking a turnaround of CNY 5,502,115,829.56[185]. - Total comprehensive income for the year was CNY -1,901,832,695.96, a stark contrast to CNY 3,716,301,177.35 in the prior year, reflecting a decline of approximately 151.19%[185]. - The company experienced an operating loss of CNY -2,661,743,092.57, compared to an operating profit of CNY 4,701,174,647.02 in the previous year, representing a decline of approximately 156.73%[184]. Assets and Liabilities - As of the end of 2018, the total assets amounted to 31,536,201,940.49 RMB, an increase of 25.51% from the previous year[20]. - The asset-liability ratio increased by 24 percentage points to 60% compared to the end of the previous year[43]. - The company's total liabilities rose to ¥18.81 billion, compared to ¥8.93 billion at the start of the year, indicating a significant increase of about 110.5%[179]. - The total assets of structured entities included in the consolidated financial statements as of December 31, 2018, amounted to RMB 20.03 billion[167]. - The impairment provision balance for loans and advances was RMB 9.01 billion, while the provision for debt investments was RMB 0.69 billion[168]. Revenue Sources - The company's main business includes proprietary and trust businesses, with income from interest and investment being a key focus[30]. - The trust business generated income primarily through fees and commissions, reflecting the company's operational strategy[30]. - In 2018, the company reported a net commission income of CNY 153,752.84 million, a significant decrease from CNY 527,950.34 million in 2017[31]. - The company's net interest income dropped to CNY 1,390.81 million in 2018, down from CNY 12,603.22 million in 2017, with interest income increasing to CNY 72,489.90 million[31]. - The company recognized commission income of RMB 15.60 billion in 2018, with trust fees amounting to RMB 15.40 billion, representing 98.73% of total commission income, a decrease of 70.63% year-on-year[168]. Risk Management - The company has acknowledged various industry and market risks that may impact future performance[7]. - The management has emphasized the importance of risk awareness in future strategic planning[6]. - The company is committed to improving its risk management and internal control systems to manage various risks effectively[73]. - The company is enhancing its risk management system to adapt to business changes and improve liquidity and credit risk management[75]. - The company has implemented strict credit risk management measures, including client admission standards and monthly monitoring of major clients' credit usage[79]. Corporate Governance - The company received a standard unqualified audit report from its accounting firm[4]. - The company has established a comprehensive operational risk management framework, enhancing internal processes and technology investments[82]. - The independent directors raised no objections to company matters during the reporting period[155]. - The risk control and audit committee reviewed the financial statements and confirmed they accurately reflect the company's financial status and operating results[156]. - The company has a diverse board with members having extensive experience in finance and management[132]. Shareholder Information - The company has established a three-year shareholder return plan for 2017-2019, enhancing transparency in profit distribution decisions[87]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[90]. - The largest shareholder, Shanghai Guozhijie Investment Development Co., Ltd., holds 2,867,929,342 shares, representing 52.44% of the total shares, with 204,847,399 shares frozen[120]. - The total number of ordinary shareholders at the end of the reporting period was 84,624, a decrease from 152,680 at the end of the previous month[118]. - The total share capital increased to 5,469,137,919 shares after a cash dividend distribution of 2,278,807,466 RMB and a capital reserve increase of 911,522,987 shares[117]. Social Responsibility and Compliance - The company has actively fulfilled its social responsibilities, as detailed in its annual social responsibility report[110]. - The company has not faced any penalties from securities regulatory agencies in the past three years[140]. - The company has ensured compliance with relevant laws and regulations regarding related party transactions and information disclosure[92]. - The company has not reported any issues regarding the occupation of funds or progress in debt recovery during the reporting period[95]. - The company has not experienced any significant accounting errors that would require correction, ensuring the reliability of its financial statements[97].
建元信托(600816) - 2019 Q1 - 季度财报
2019-05-16 16:00
Financial Performance - Operating revenue for the first quarter was approximately ¥528.56 million, a significant decrease of 66.75% year-on-year[4] - Net profit attributable to shareholders of the listed company was approximately ¥312.11 million, down 70.44% compared to the same period last year[4] - The weighted average return on net assets decreased by 3.88 percentage points to 2.45%[4] - Total operating revenue for Q1 2019 was ¥528,560,912.27, a decrease of 66.8% compared to ¥1,589,563,138.55 in Q1 2018[18] - Net profit for Q1 2019 was ¥311,884,676.34, down from ¥1,055,975,607.62 in Q1 2018, representing a decrease of approximately 70.5%[20] - Earnings per share for Q1 2019 was ¥0.0571, compared to ¥0.1931 in Q1 2018, reflecting a decline of 70.5%[21] - The total comprehensive income for Q1 2019 was ¥311,884,676.34, compared to ¥980,328,630.45 in Q1 2018, indicating a substantial decline[21] - Net profit for Q1 2019 was CNY 314,406,492.36, a decrease of approximately 70.3% from CNY 1,055,975,607.62 in Q1 2018[24] - Basic earnings per share for Q1 2019 were CNY 0.0575, down from CNY 0.1931 in Q1 2018, indicating a decline of about 70.3%[24] Asset and Equity Changes - Total assets at the end of the reporting period were approximately ¥30.67 billion, a decrease of 2.75% compared to the end of the previous year[4] - Net assets attributable to shareholders of the listed company increased by 6.67% to approximately ¥12.81 billion[4] - Total assets as of March 31, 2019, were 30,669,265,842.65, down from 31,536,201,940.49 as of December 31, 2018[13] - The company's total equity increased to 13,521,802,497.27 from 12,721,419,394.39 in the previous period[13] - The company's total equity increased to ¥12,818,093,818.50 in Q1 2019 from ¥12,050,353,199.76 in Q1 2018, reflecting an increase of approximately 6.4%[16] - The company’s total equity decreased from 13.21 billion RMB to 12.72 billion RMB, a reduction of approximately 488.50 million RMB[31] Cash Flow Analysis - Cash flow from operating activities showed a net outflow of approximately ¥443.12 million, an improvement of 37.92% compared to the previous year[4] - The net cash flow from operating activities was -443,115,246.17, a decrease of 37.92% compared to -713,819,494.12 in the previous period[10] - Cash inflow from operating activities totaled ¥829,151,451.23, a decrease of 71.2% compared to ¥2,882,476,320.27 in Q1 2018[27] - Net cash outflow from operating activities was ¥437,911,898.47, contrasting with a net inflow of ¥395,705,940.79 in the same period last year[27] - The total cash outflow for operating activities was ¥1,267,063,349.70, a decrease of 48.8% compared to ¥2,486,770,379.48 in Q1 2018[27] - Cash and cash equivalents at the end of Q1 2019 were CNY 137,791,918.12, down from CNY 955,655,660.64 at the end of Q1 2018, indicating a liquidity challenge[26] Investment Performance - Investment losses increased significantly, with investment income showing a loss of approximately ¥243.48 million, a decline of 1061.39%[8] - Fair value changes resulted in a gain of approximately ¥651.91 million, a 260.83% increase influenced by rising stock prices of financial assets[8] - The company reported a significant loss in investment income of -¥243,484,678.37 in Q1 2019, compared to a gain of ¥25,326,273.77 in Q1 2018[18] - The company reported a significant reduction in cash received from operating activities, with interest, fees, and commissions collected amounting to ¥412,301,554.62, down 52.1% from ¥860,158,331.84[27] Liabilities and Financial Position - Total liabilities decreased to 17,147,463,345.38 from 18,814,782,546.10 in the previous period[13] - Total liabilities decreased to ¥6,520,911,748.63 in Q1 2019 from ¥7,698,589,816.34 in Q1 2018, a reduction of approximately 15.3%[17] - Total liabilities increased by approximately 566.55 million RMB, from 7.13 billion RMB to 7.70 billion RMB[34] Market and Operational Outlook - The company expects fluctuations in operating performance in the first half of the year compared to the same period last year due to a slowly recovering market environment[10] - The company noted that the trust industry is undergoing transformation and structural adjustments to mitigate operational risks[10]
建元信托(600816) - 2018 Q4 - 年度财报
2019-04-29 16:00
Financial Performance - In 2018, the company reported a net profit attributable to shareholders of -1,832,796,150.45 RMB, a decrease of 149.96% compared to 2017[14]. - The total revenue for 2018 was -850,779,080.55 RMB, representing a decline of 115.21% from the previous year[14]. - The net cash flow from operating activities was -2,534,048,351.03 RMB, a decrease of 246.47% compared to 2017[14]. - Basic earnings per share for 2018 was -0.3351 yuan, a decrease of 149.96% compared to 2017[15]. - The weighted average return on equity for 2018 was -13.54%, a decrease of 38.77 percentage points from 2017[15]. - The company achieved a total revenue of -850.78 million yuan, with a net profit attributable to the parent company of -1,832.80 million yuan[31]. - The company reported a significant increase in operating expenses, totaling 1,810,964,012.02 CNY, up from 891,253,271.10 CNY in the previous year, reflecting an increase of approximately 103.5%[143]. - The company reported a total revenue of -850,779,080.55 CNY for 2018, a significant decrease from 5,592,427,918.12 CNY in the previous year, representing a decline of approximately 115.2%[143]. - The company’s total profit for the year was -2,442,504,069.60 CNY, compared to a profit of 4,874,213,615.65 CNY in the previous year, marking a decline of approximately 150%[143]. Assets and Liabilities - As of the end of 2018, the total assets amounted to 31,536,201,940.49 RMB, an increase of 25.51% from the end of 2017[14]. - The total liabilities amounted to 18,814.78 million yuan, resulting in a debt-to-asset ratio of 60%, which increased by 24 percentage points from the previous year[31]. - The company’s total assets at the end of the reporting period included loans and advances of approximately ¥14.77 billion, representing a 165.96% increase due to the consolidation of structured entities[41]. - The company’s total liabilities included other liabilities of approximately ¥15.24 billion, an increase of 159.09% due to the consolidation of structured entities[41]. - The total assets of structured entities included in the consolidated financial statements as of December 31, 2018, amounted to RMB 20.03 billion[132]. Cash Flow - The net cash flow from operating activities was negative at approximately -¥2.53 billion, a decrease of 246.47% from the previous year, primarily due to reduced commission income[37]. - The net cash flow from investment activities improved by 117.79% to approximately ¥399.38 million, as cash outflows for external investments decreased[37]. - The net cash flow from operating activities was -2,534,048,351.03 RMB, a significant decrease compared to the previous year's net cash flow of 1,730,039,924.46 RMB[148]. - Total cash inflow from operating activities amounted to 5,761,548,607.23 RMB, down from 8,076,613,341.79 RMB in the previous period[148]. - Cash outflow from operating activities totaled 8,295,596,958.26 RMB, compared to 6,346,573,417.33 RMB last year[148]. Risk Management - The company has acknowledged various industry and market risks in its report, emphasizing the need for careful consideration by investors[5]. - The company’s future plans and strategies are subject to risks, and investors are advised to be cautious[4]. - The company emphasizes compliance risk management by adhering to regulatory requirements and enhancing customer relationship management to mitigate reputational risks[55]. - The company implemented strict credit risk management measures, including customer admission standards and monthly monitoring of major clients' credit usage concentration[54]. - The company actively engages in market risk prevention by analyzing macroeconomic trends and adjusting investment strategies based on industry policies and market responses[54]. Corporate Governance - The company has received a standard unqualified audit report from its accounting firm, indicating the financial statements are accurate and complete[2]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[4]. - The company has committed to not engaging in any business that competes with its main operations, ensuring no conflicts of interest arise from its controlling shareholders[61]. - The management determined that it had control over certain structured entities, leading to their inclusion in the consolidated financial statements[132]. - The company has maintained compliance with commitments regarding related party transactions and competition avoidance[61]. Shareholder Information - The company did not propose any cash profit distribution plan for 2018 despite having positive distributable profits[60]. - The company has established a three-year dividend return plan for shareholders from 2017 to 2019, enhancing transparency in profit distribution decisions[58]. - The total share capital increased to 5,469,137,919 shares after the implementation of the 2017 profit distribution plan[58]. - The company distributed cash dividends totaling 2,278,807,466 RMB, with a cash dividend of 0.5 RMB per share[84]. - The total number of ordinary shares increased from 4,557,614,932 to 5,469,137,919 shares, representing a growth of approximately 20.0%[84]. Strategic Initiatives - The company has established a diversified industrial layout including urban renewal, biomedicine, internet infrastructure, high-end elderly care, modern agriculture, and new energy[29]. - The company aims to enhance its wealth management network and deepen its risk control system in response to complex external environments[30]. - The company plans to enhance its capital strength and quality to expand its trust business and gradually develop innovative services under regulatory approval, including private equity trusts and asset securitization[51]. - The company intends to actively promote pension consumption trust services, enhancing product offerings and operational standards to meet market demands[52]. - The company is committed to improving its risk management and internal control systems to adapt to business development changes and manage liquidity and credit risks effectively[51]. Employee and Management Information - The total actual remuneration for all directors, supervisors, and senior management in 2018 amounted to 48.696 million yuan[105]. - The company employed a total of 425 staff members, including 276 front-line personnel and 8 senior management[107]. - The company has established a differentiated remuneration and incentive policy to enhance employee performance and responsibility awareness[108]. - The company conducted 64 training sessions covering 2,053 participants, totaling 405 hours of training[109]. - The company has appointed new independent directors, including Chen Shimin and Wang Kaiguo, during the 2018 annual general meeting[106].
建元信托(600816) - 2018 Q3 - 季度财报
2018-10-30 16:00
Financial Performance - Operating income for the period was CNY 1.28 billion, representing a decline of 69.50% year-on-year [7]. - Net profit attributable to shareholders was CNY 24.09 million, down 99.15% from the previous year [7]. - Basic and diluted earnings per share were CNY 0.0044, a decrease of 99.15% compared to the previous year [8]. - The company reported a significant decline in net profit due to various operational challenges and market conditions [8]. - The company reported a net profit loss of CNY 1,054,418,260.23 for the first nine months of 2018, compared to a net profit of CNY 2,825,288,323.79 in the same period last year, representing a significant decline [25]. - Total operating income for the first nine months was CNY 1,280,026,868.03, down from CNY 4,196,501,969.55 in the previous year, indicating a decrease of approximately 69.5% [25]. - The company recorded an operating profit loss of CNY 1,406,267,332.69 for the third quarter, compared to an operating profit of CNY 1,617,797,237.96 in the same quarter last year [25]. - The total profit for the period was -1,406,266,982.69 CNY, compared to a profit of 1,617,694,765.70 CNY in the previous year, reflecting a decline of approximately 187% [29]. Asset and Liability Changes - Total assets at the end of the reporting period were CNY 22.92 billion, a decrease of 8.79% compared to the end of the previous year [7]. - Total assets decreased from CNY 25,126,115,640.70 to CNY 22,917,580,831.36, a decline of approximately 8.7% [19]. - Total liabilities increased from CNY 8,934,633,780.67 to CNY 9,049,985,540.38, an increase of about 1.3% [20]. - Owner's equity decreased from CNY 16,191,481,860.03 to CNY 13,867,595,290.98, representing a decline of approximately 14.4% [20]. - The capital reserve decreased from CNY 4,012,381,177.83 to CNY 3,100,858,190.83, a decline of approximately 22.7% [20]. - The company's unallocated profits decreased from CNY 5,843,430,951.00 to CNY 3,588,710,808.59, a drop of about 38.5% [20]. Cash Flow Analysis - Cash flow from operating activities increased significantly to CNY 2.69 billion, up 299.26% compared to the same period last year [7]. - The net cash flow from operating activities increased by 299.26% to CNY 2,694,147,305.55, attributed to a reduction in consolidated structured entities [13]. - Cash flow from operating activities for the first nine months of 2018 was 2,694,147,305.55 CNY, a substantial increase from 674,792,229.64 CNY in the same period last year [33]. - The total cash outflow from operating activities was CNY 6,828,073,943.19, compared to CNY 5,705,560,217.51 last year, reflecting an increase of about 19.7% [37]. Investment and Impairment - The company recognized an asset impairment loss of CNY 1,051,074,146.61, a significant increase of 7478.38% due to impairment provisions for investments in "Yinji Media" stocks [13]. - The company incurred asset impairment losses of CNY 1,051,074,146.61 for the first nine months, a significant increase from CNY 13,869,373.17 in the previous year [25]. - The company's investment income for the first nine months of 2018 was -16,306,075.19 CNY, a significant decrease from 411,044,007.24 CNY in the same period last year [28]. Shareholder Information - The total number of shareholders at the end of the reporting period was 80,354 [10]. - The largest shareholder, Shanghai Guozhijie Investment Co., Ltd., held 52.44% of the shares, with 1.88 billion shares frozen [10]. Government Subsidies - Government subsidies recognized in the period amounted to CNY 216.46 million, contributing to non-recurring gains [8].