2018 年第三季度报告 公司代码：603855 公司简称：华荣股份 华荣科技股份有限公司 2018 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人胡志荣、主管会计工作负责人孙立及会计机构负责人（会计主管人员）汪晓敏保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 2,474,534,389.70 2,400,011,272.93 3.11 归属于上市公司 股东的净资产 1,45 ...

Financial Performance - The company's operating revenue for the first half of 2018 was approximately CNY 672 million, representing a year-on-year increase of 21.99% compared to CNY 551 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2018 was approximately CNY 55.43 million, a significant increase of 72.83% from CNY 32.07 million in the previous year[20]. - Basic and diluted earnings per share for the first half of 2018 were CNY 0.17, reflecting a growth of 41.67% from CNY 0.12 in the previous year[20]. - The net profit excluding non-recurring gains and losses was approximately CNY 42.59 million, an increase of 48.02% from CNY 28.77 million in the same period last year[20]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[81]. - The company reported a net profit of ¥56,960,121.27 for the first half of 2018, compared to ¥34,612,897.98 in the same period last year, indicating a significant increase of 64.67%[125]. Cash Flow and Assets - The net cash flow from operating activities improved by 62.22%, reaching approximately CNY -17.40 million, compared to CNY -46.06 million in the same period last year[20]. - Total assets at the end of the reporting period were approximately CNY 2.31 billion, a decrease of 3.59% from CNY 2.40 billion at the end of the previous year[20]. - As of the end of the reporting period, the company's cash and cash equivalents decreased by 23.57% to ¥250,300,070.09, compared to ¥327,504,694.06 at the end of the previous period[50]. - The total current assets as of June 30, 2018, amounted to CNY 1,760,724,185.34, a decrease of approximately 5.3% from CNY 1,859,365,915.92 at the beginning of the period[118]. - The company's total assets as of June 30, 2018, were CNY 2,313,954,934.26, down from CNY 2,400,011,272.93, indicating a decrease of about 3.6%[118]. Strategic Initiatives - The company has expanded its business into the photovoltaic new energy sector, indicating a strategic move to diversify its operations[26]. - The company established subsidiaries in the Middle East and Hong Kong to expand overseas markets, aligning with the "Belt and Road" strategy[44]. - The company is actively developing new products with high technological content and optimizing its product structure to enhance market competitiveness[57]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the tech sector[87]. Market Position and Industry Outlook - The company is a leading supplier of explosion-proof electrical equipment and professional lighting devices, with over 300 product series and more than 1,000 different models[25]. - The explosion-proof electrical industry is projected to grow due to increasing safety production demands in the oil, chemical, and coal industries, despite a slowdown in overall economic growth[33]. - The professional lighting industry in China is expected to experience a peak in LED lighting replacement, driven by the government's push for energy-saving and environmentally friendly lighting solutions[35]. - The company is positioned to benefit from the ongoing expansion of the explosion-proof electrical market in emerging markets like China, Russia, and Brazil, driven by rising energy demands[33]. Research and Development - The company has a dedicated R&D team of 240 professionals, focusing on new product development and basic technology research in various fields including electrical, mechanical, and automation control[40]. - Research and development expenses increased by 8.68% to CNY 20.611 million, reflecting ongoing investment in innovation[48]. - The company is focusing on R&D for smart, energy-efficient, and environmentally friendly products, but risks include misalignment with market trends and insufficient market promotion[64]. Shareholder and Corporate Governance - The company has not disclosed any plans for profit distribution or capital increase during the reporting period[6]. - The controlling shareholder, Hu Zhirong, committed to not transferring or entrusting the management of shares for 36 months from the date of the company's initial public offering[71]. - The company has implemented measures to avoid any direct or indirect competition with Hu Zhirong's affiliated companies during his tenure and for six months thereafter[72]. - The company will ensure that any related transactions with Hu Zhirong or his affiliates are conducted under fair market conditions[74]. Risks and Challenges - The company faces risks related to raw material price fluctuations, particularly for aluminum and steel, which could adversely affect profitability if not managed effectively[63]. - Labor cost increases pose a significant challenge, particularly in the Shanghai region, where the company operates[65]. - The company emphasizes the need for investors to consider macroeconomic fluctuations and the impact of downstream industry conditions on future performance[58]. Compliance and Regulatory Matters - The company and its actual controller did not face any penalties from regulatory authorities during the reporting period[94]. - The company is not classified as a key pollutant discharge unit and has passed the ISO 14001 environmental management system certification[100]. - The financial statements are prepared based on the continuous operation principle and comply with the relevant accounting standards[150].

2018 年第一季度报告 公司代码：603855 公司简称：华荣股份 华荣科技股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | -10,002.19 | | | 越权审批，或无正式批准文件，或 | | | | 偶发性的税收返还、减免 | | | | 计入当期损益的政府补助，但与公 | | | 3 / 18 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人胡志荣、主管会计工作负责人孙立 及会计机构负责人（会计主管人员）汪晓敏保 证季度报告中财务报表的真 ...

Financial Performance - The company's operating revenue for 2017 was approximately CNY 1.48 billion, representing a year-on-year increase of 23.24% compared to CNY 1.20 billion in 2016[20]. - The net profit attributable to shareholders of the listed company was CNY 126.10 million, an increase of 11.39% from CNY 113.21 million in the previous year[20]. - The net cash flow from operating activities decreased by 26.86% to CNY 132.99 million from CNY 181.83 million in 2016[20]. - The total assets of the company at the end of 2017 were CNY 2.40 billion, up 28.62% from CNY 1.87 billion at the end of 2016[20]. - The net assets attributable to shareholders of the listed company increased by 78.05% to CNY 1.42 billion, primarily due to the initial public offering in May 2017[22]. - Basic earnings per share for 2017 were CNY 0.43, a decrease of 6.52% from CNY 0.46 in 2016[21]. - The weighted average return on net assets was 11.06%, down 3.86 percentage points from 14.92% in the previous year[21]. Cash Flow and Investments - The company’s operating cash flow net amount was CNY 132.99 million, a decrease of 26.86% compared to 2016[55]. - Cash and cash equivalents increased by ¥97,494,874.01, a growth of 18.77% compared to the previous year[70]. - The company raised ¥565,988,450.95 through its initial public offering, resulting in a 799.62% increase in net cash flow from financing activities[71]. - The company has invested RMB 440 million in financial products using temporarily idle funds, with an outstanding balance of RMB 250 million[138]. - The company has a single entrusted financial product with a principal amount of RMB 80 million, yielding an annualized return of 4.25%[141]. - Another entrusted financial product of RMB 60 million has an annualized return of 4.60%[141]. Market and Product Development - The company has expanded its product line to over 300 different series and more than 1,000 specifications, enhancing its market competitiveness in the explosion-proof electrical and professional lighting sectors[30]. - The company is actively exploring the photovoltaic new energy sector as part of its strategic development, indicating diversification efforts[31]. - The company’s R&D team consists of 240 professionals across various fields, contributing to multiple patents in explosion-proof electrical equipment and professional lighting[45]. - The company is focusing on R&D capabilities to provide customized solutions and comprehensive services in explosion-proof electrical and professional lighting[42]. - The professional lighting market is expected to see a surge in LED product adoption, driven by government initiatives to phase out incandescent bulbs and promote energy-efficient lighting[39]. Operational Efficiency and Management - The company has implemented a procurement process compliant with ISO9001:2008 standards, ensuring quality in its supply chain management[32]. - The company’s production model is market-oriented, combining sales-driven production with appropriate inventory management, optimizing operational efficiency[32]. - The company is actively enhancing its internal management and organizational capabilities to improve operational efficiency[50]. - The company has established a robust internal control system to ensure compliance and operational efficiency[89]. - The company has established a comprehensive salary, welfare, and incentive system to enhance employee rights and promote personal and corporate growth[144]. Shareholder and Corporate Governance - The company plans to distribute a cash dividend of CNY 2 per 10 shares, totaling CNY 66.21 million, subject to shareholder approval[5]. - The controlling shareholder, Hu Zhi Rong, committed to not transferring or entrusting the management of shares for 36 months post-IPO[105]. - The company has implemented a comprehensive dividend policy that aligns with regulatory requirements and aims to protect the rights of minority shareholders[103]. - The company guarantees that no competitive business activities will be conducted by its subsidiaries during the shareholder's tenure and for six months thereafter[112]. - The company has committed to measures to ensure the fulfillment of promises made in the prospectus, including extending the lock-up period of shares if necessary[122]. Risks and Challenges - The company is exposed to market risks due to its reliance on cyclical industries, particularly in the oil, chemical, and coal sectors[90]. - The company faces risks related to the fluctuation of raw material prices, particularly for aluminum and steel, which could adversely affect profitability if not managed effectively[95]. - The company has acknowledged risks associated with research and development, including potential misalignment with market trends and insufficient market promotion of new products[97]. - The company has identified human resource costs as a significant challenge, particularly in the Shanghai region, where labor costs are high and competition for skilled talent is intense[98]. Compliance and Legal Matters - The company has not encountered any major litigation, arbitration, or administrative penalties that could affect its operations[121]. - The company has confirmed that all directors, supervisors, and senior management have signed the "Qualification Confirmation Letter," ensuring compliance with national laws and regulations[121]. - The company has acknowledged the need to comply with new accounting standards effective from May 28, 2017, and June 12, 2017, impacting financial reporting[125]. - The company has not faced any risks of suspension from listing during the reporting period[130]. Future Outlook - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for the next quarter, representing a 25% increase compared to the current quarter[177]. - New product launches are expected to contribute an additional 300 million RMB in revenue over the next fiscal year[177]. - Market expansion plans include entering two new international markets by Q3 2024, targeting a 10% market share in each[177]. - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[177].

Financial Performance - Total assets increased by 16.44% to CNY 2,172,669,193.44 compared to the end of the previous year[6] - Net assets attributable to shareholders rose by 70.29% to CNY 1,359,196,931.33 year-over-year[6] - Revenue for the first nine months reached CNY 903,855,927.87, a 29.01% increase from the same period last year[6] - Net profit attributable to shareholders grew by 26.40% to CNY 63,786,821.36 year-over-year[6] - Basic and diluted earnings per share increased by 10.09% to CNY 0.2237[7] - Operating revenue for the first nine months of 2017 was ¥903,855,927.87, a 29.01% increase from ¥700,606,112.24 in the same period of 2016[14] - Net profit for the third quarter of 2017 was ¥63,786,821.36, reflecting a 26.40% increase from ¥50,464,281.18 in the previous year[14] - Net profit for the first nine months was CNY 63,786,821.36, compared to CNY 50,464,281.18 in the same period last year, reflecting a growth of approximately 26.5%[23] - Basic earnings per share for the first nine months were CNY 0.2237, compared to CNY 0.2032 in the previous year, marking an increase of approximately 10.5%[23] Cash Flow - Operating cash flow increased by 258.18% to CNY 20,174,278.70 for the first nine months[6] - Cash flow from operating activities surged by 258.18% to ¥20,174,278.70, driven by increased cash receipts from sales[14] - Net cash flow from operating activities improved to ¥20,174,278.70, compared to ¥5,632,401.63 in the same period last year, marking a significant increase of 258.5%[26] - Total cash inflow from operating activities was significantly higher than cash outflow, leading to a net increase in cash and cash equivalents of ¥3,408,338.81[28] Assets and Liabilities - Current assets rose to CNY 1,639,330,956.61, up from CNY 1,344,455,999.06, indicating an increase of about 22%[19] - The company’s total liabilities decreased to CNY 813,472,262.11 from CNY 1,067,782,118.22, a reduction of about 23.8%[19] - Cash and cash equivalents at the end of the period were CNY 228,364,994.92, up from CNY 221,877,206.24 at the beginning of the year[18] - Inventory increased by 47.90% to ¥321,601,455.96, mainly due to the rise in completed but unsettled assets from construction contracts[13] - Inventory increased to CNY 321,601,455.96 from CNY 217,442,596.70, representing a growth of about 47.8%[18] Investments and Subsidiaries - The company established a wholly-owned subsidiary in Dubai with an investment of $3 million, approved on July 24, 2017[14] - The company completed the establishment registration of the overseas subsidiary as of the announcement date[15] - Cash outflow from investment activities totaled ¥287,558,717.56, a substantial rise from ¥52,400,304.63 year-over-year, indicating increased investment efforts[26] - The company received cash from investment of ¥250,000,000.00 during the investment activities, indicating a strategic move towards growth[26] Other Financial Metrics - The weighted average return on net assets decreased by 0.72 percentage points to 6.16%[7] - The company reported a gross profit margin of approximately 51.9% for the first nine months, compared to 56.6% in the previous year[22] - The company’s operating profit for the first nine months was CNY 67,424,675.89, up from CNY 56,790,839.41, indicating an increase of approximately 18.5%[22] - Short-term borrowings decreased by 95.21% to ¥11,000,000.00, attributed to a reduction in bank loans[13] Non-Operating Income and Losses - Non-operating income included government subsidies totaling CNY 8,053,074.63 for the year-to-date[9] - The company reported a net loss from non-current asset disposal of CNY 137,379.45 for the year-to-date[9] Foreign Exchange Impact - The company experienced a foreign exchange impact of -¥1,946,544.45 on cash and cash equivalents, contrasting with a positive impact of ¥1,024,708.69 in the previous year[28]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥550,848,546.46, representing a year-on-year increase of 31.23% compared to ¥419,758,067.62 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥32,073,455.71, an increase of 11.37% from ¥28,799,502.56 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 28.77 million RMB, an increase of 2.74% compared to the previous year[51]. - The company's operating costs rose to 277.43 million RMB, reflecting a significant increase of 58.53% due to lower gross margins from photovoltaic engineering business[53]. - The company achieved operating revenue of 550.85 million RMB, an increase of 31.23% compared to the same period last year[51]. - The net profit for the first half of 2017 was CNY 32,073,455.71, compared to CNY 28,799,502.56 in the prior year, indicating a growth of approximately 11.8%[118]. - The total comprehensive income for the first half of 2017 was CNY 32,073,455.71, compared to CNY 28,799,502.56 in the same period last year, representing an increase of approximately 7.9%[119]. Assets and Liabilities - The total assets of the company rose by 19.22% to ¥2,224,491,793.08 from ¥1,865,933,399.21 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 66.32% to ¥1,327,483,565.68 from ¥798,151,280.99 at the end of the previous year[23]. - The company's cash and cash equivalents rose to CNY 580,321,772.31 from CNY 221,877,206.24, marking an increase of about 161.5%[114]. - Total current liabilities decreased to CNY 897,008,227.40 from CNY 1,067,782,118.22, a reduction of approximately 16.0%[115]. - The company's inventory increased to CNY 296,668,807.45 from CNY 217,442,596.70, reflecting a growth of about 36.4%[114]. - The total equity of the company rose to CNY 1,327,483,565.68 from CNY 798,151,280.99, an increase of approximately 66.4%[116]. - The company's short-term borrowings decreased to CNY 171,000,000.00 from CNY 229,410,000.00, a decline of about 25.4%[115]. Cash Flow - The company reported a net cash flow from operating activities of -¥46,056,316.23, which is a decline of 19.61% compared to -¥38,505,948.89 in the previous year[23]. - Cash inflow from operating activities was CNY 715,184,492.21, an increase of 25.8% from CNY 568,874,984.50 in the prior period[120]. - The net cash flow from financing activities was CNY 433,032,993.82, compared to CNY 1,153,295.83 in the same period last year, showing a substantial increase[121]. - The ending balance of cash and cash equivalents was CNY 571,873,398.42, up from CNY 59,726,808.34 at the end of the previous period, reflecting a growth of approximately 857.5%[121]. Business Operations - The company attributed the revenue growth primarily to the rapid expansion of its photovoltaic engineering business[26]. - The company has expanded its business into photovoltaic engineering, LED lighting, and contract energy management[32]. - The company operates under a complete procurement, production, and sales system, ensuring quality and efficiency in its operations[33]. - The sales strategy includes a combination of business development agents and direct sales, enhancing market reach and customer relationships[36]. - The company has established a robust supplier network, ensuring a stable and reputable supply chain[34]. - The production model is market-oriented, with a focus on just-in-time production and appropriate inventory management[35]. Market and Industry Trends - The explosion-proof electrical industry is experiencing rapid growth, driven by increasing energy demands in emerging markets like China, Russia, and Brazil[39]. - The professional lighting industry is transitioning towards specialization and diversification, with increasing competition from both domestic and foreign brands[40]. - The Chinese government is promoting the development of high-quality, green, and intelligent lighting products, particularly in LED technology[41]. - The shift towards LED lighting is expected to create a peak replacement period in the Chinese lighting market, providing new growth opportunities for the professional lighting sector[42]. Research and Development - The company has a dedicated R&D team of 240 professionals, focusing on new product development and basic technology research[47]. - The company is actively developing new products with higher technological content and optimizing its product structure to mitigate market competition risks[62]. - The company is focusing on R&D towards smart, energy-efficient, and environmentally friendly products in response to market demands[65]. Shareholder and Corporate Governance - The company plans to limit the reduction of shares to no more than 10% of the total shares held after the lock-up period of 2 years, provided the stock price does not fall below the issue price[75]. - The company guarantees that any related party transactions will be conducted at fair market conditions to avoid conflicts of interest[76]. - The company has committed to not transferring or entrusting the management of its shares within 12 months from the date of the IPO[77]. - The controlling shareholder has agreed to not transfer shares until any violations are resolved, ensuring the protection of investor rights[85]. Compliance and Legal Matters - The company has not faced any administrative or criminal penalties that could significantly impact its financial status or operational results[85]. - The company confirmed that there were no major related party transactions that had not been disclosed in temporary announcements[91]. - The company has implemented social insurance and housing fund registration for employees, complying with local regulations[84]. Accounting Policies - The accounting policies and estimates are tailored to the company's operational characteristics, including provisions for bad debts and depreciation[137]. - The company recognizes its share of assets and liabilities in joint operations according to relevant accounting standards[152]. - The company applies the weighted average method for inventory valuation upon issuance[172]. - The company uses the straight-line method for depreciation of fixed assets, with specific rates such as 4.75% for buildings and 23.75% for transportation equipment[185].