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中核科技(000777) - 2014 Q3 - 季度财报
2014-10-24 16:00
Financial Performance - Total assets at the end of the reporting period reached ¥1,964,265,071.30, an increase of 7.27% compared to the end of the previous year[7]. - Net assets attributable to shareholders of the listed company amounted to ¥1,053,225,785.77, reflecting a growth of 3.03% year-on-year[7]. - Operating revenue for the reporting period was ¥272,467,667.72, representing a year-on-year increase of 2.56%[7]. - Net profit attributable to shareholders of the listed company was ¥15,973,547.03, up 9.84% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,040,289.35, an increase of 11.16% year-on-year[7]. - Basic earnings per share for the reporting period was ¥0.0417, reflecting a growth of 10.03% compared to the previous year[7]. - The weighted average return on net assets was 1.53%, an increase of 0.07% from the previous year[7]. - Operating income from non-operating activities increased by 31.58% to ¥8,659,438.88, mainly from government subsidies for research projects[17]. - The company recorded a 51.83% increase in income tax expenses, amounting to ¥6,422,212.40, due to higher total profits[17]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was -¥54,287,094.54, a decline of 161.61% compared to the previous year[7]. - The company's cash and cash equivalents decreased by 33.50% to ¥199,384,674.39 compared to the end of 2013, primarily due to delayed payments from customers and cash dividend distributions[16]. - Accounts receivable increased by 77.04% to ¥443,203,665.76, attributed to growth in main business revenue and extended collection periods due to customer financial difficulties[16]. - The net cash flow from operating activities turned negative at -¥54,287,094.54, a decline of 161.61% year-on-year, mainly due to increased cash payments for goods and services and extended collection periods[17]. - The company reported a 147.62% increase in asset impairment losses, totaling ¥16,257,580.93, due to a significant rise in accounts receivable[16]. - The company’s long-term prepaid expenses decreased by 41.05% to ¥750,591.14, attributed to the scheduled amortization of long-term prepaid expenses[16]. - The company’s minority shareholders' losses increased by 156.47% to -¥2,507,149.25, due to reduced profits from subsidiaries[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 76,758[11]. - The largest shareholder, China National Nuclear Corporation Suzhou Valve Factory, held 17.92% of the shares, totaling 68,715,360 shares[11]. Corporate Governance and Commitments - 中核集团承诺在其控股期间不会与中核科技主营业务构成竞争[21]. - 苏阀厂确认其及附属企业未从事与中核科技主营业务竞争的活动[22]. - 公司在报告期内正常履行了所有承诺[22]. - 中核集团承诺如未履行承诺将依法赔偿中核科技的实际损失[22]. Investment Activities - 公司报告期内未进行证券投资[23]. - 公司报告期内未进行衍生品投资[24]. - 公司计划投资¥50 million to establish a property insurance company, representing 10% of the proposed registered capital[19]. Research and Communication - 公司在报告期内接待了多次调研和沟通活动,主要讨论生产经营情况[26]. - 报告期内的调研活动包括与个人和机构的实地调研[26]. - 预计2014年度经营业绩未出现大幅度变动的警示[23].
中核科技(000777) - 2014 Q2 - 季度财报
2014-08-18 16:00
Financial Performance - The company's operating revenue for the first half of 2014 was CNY 537,265,271.51, representing a 10.26% increase compared to CNY 487,289,914.09 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 36,286,775.07, up 16.12% from CNY 31,249,536.69 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY 32,073,028.34, an increase of 11.25% compared to CNY 28,828,821.41 in the previous year[19]. - The basic earnings per share increased to CNY 0.0946, reflecting a growth of 16.07% from CNY 0.0815[19]. - Operating profit rose to CNY 33.31 million, reflecting a 7.74% increase compared to CNY 30.92 million in the previous year[26]. - The company achieved operating revenue of CNY 537.27 million, a 10.26% increase from CNY 487.29 million in the same period last year[26]. - The company reported a net profit of RMB 4,600,468.59 from its subsidiary Suzhou Zhonghe Suval Ball Valve Co., Ltd[54]. - The company’s net profit for the first half of 2014 was CNY 35,142,393.03, an increase of 15.5% compared to CNY 30,283,737.37 in the same period of 2013[119]. Cash Flow and Financial Position - The net cash flow from operating activities was negative CNY 69,188,527.04, a significant decrease of 730.90% compared to a positive CNY 10,966,592.23 in the same period last year[19]. - The company reported a cash outflow from financing activities totaling CNY 23,458,619.95, compared to CNY 27,372,264.97 in the previous period[123]. - The total cash and cash equivalents at the end of the period were CNY 174,693,393.82, down from CNY 277,667,224.72 at the beginning of the period[123]. - The company's cash and cash equivalents decreased to CNY 189,821,165.61 from CNY 299,808,515.61, indicating a decline of about 36.7%[110]. - The company reported a significant decline in fair value for certain financial assets, with a drop exceeding 50% below cost lasting over one year, indicating impairment[159]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,894,192,708.88, a 3.44% increase from CNY 1,831,202,942.62 at the end of the previous year[22]. - Total liabilities increased to CNY 820,726,217.17 from CNY 770,651,452.04, marking an increase of approximately 6.5%[114]. - The company's equity attributable to shareholders rose to CNY 1,037,252,238.74 from CNY 1,022,266,441.07, reflecting a growth of about 1.5%[114]. - The company's current assets totaled CNY 1,169,688,280.70, up from CNY 1,111,546,069.50 at the start of the period, reflecting a growth of approximately 5.2%[110]. - Accounts receivable increased significantly to CNY 381,831,835.59 from CNY 250,347,485.15, representing a growth of approximately 52.5%[110]. Investment and R&D - Research and development investment grew by 15.43% to CNY 14.35 million, up from CNY 12.44 million in the previous year[26]. - The company is focused on accelerating the R&D of high-end valve projects, including critical valves for nuclear power plants and high-temperature hydrogenation devices[29]. - The company has established a provincial-level engineering valve technology R&D center, enhancing its independent research and development capabilities[40]. - The company is focusing on key valve technology breakthroughs and market application industrialization to enhance its competitive advantage in nuclear energy projects[30]. Dividend and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company distributed a cash dividend of ¥1.00 per 10 shares, totaling ¥85,203,909.60, based on a total share capital of 213,009,774 shares[57]. - For the first half of 2014, the company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[60]. - The profit distribution plan included a cash dividend of 1.00 yuan per 10 shares and a bonus of 3 shares for every 10 shares held, along with a capital reserve conversion of 5 shares for every 10 shares[96]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and operational mechanisms[62]. - The company has a sound internal control system in place to safeguard investor interests and ensure compliance with governance standards[64]. - There were no significant litigation or arbitration matters reported during the period[65]. - The company has not engaged in any asset acquisitions or sales during the reporting period[68][69]. Related Party Transactions - The total amount of related party transactions for the reporting period is expected to be 74.6285 million yuan, accounting for 13.93% of the company's total sales during the period[73]. - The company has engaged in related party transactions with China Nuclear Engineering Co., Ltd. and other subsidiaries, primarily involving the sale of valve products and procurement of raw materials[73]. Market Position and Strategy - The company plans to enhance market competitiveness by expanding marketing efforts in key sectors such as oil, petrochemicals, and nuclear energy projects[29]. - The company is a strategic supplier for major clients such as Sinopec and PetroChina, maintaining a strong market position[34]. - The company plans to accelerate development by leveraging brand advantages and seizing market opportunities amid increasing competition in the valve industry[40]. Financial Management - The company strictly managed the raised funds, ensuring no misappropriation or violation of regulations occurred[52]. - The company is committed to using surplus raised funds solely for operations related to its main business[95]. - The company has not engaged in securities investment, entrusted financial management, or derivative investments during the reporting period[44][45][46].
中核科技(000777) - 2014 Q1 - 季度财报
2014-04-21 16:00
Financial Performance - The company's revenue for Q1 2014 was ¥299,180,219.33, representing a 21.98% increase compared to ¥245,274,391.02 in the same period last year[8] - Net profit attributable to shareholders was ¥18,566,512.84, a significant increase of 195.79% from ¥6,276,958.53 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥16,486,719.43, up 238.16% from ¥4,875,357.62 in the previous year[8] - The basic earnings per share rose to ¥0.0872, reflecting a 195.59% increase compared to ¥0.0295 in the same period last year[8] - Operating revenue for the first quarter of 2014 increased by 195.79% to ¥18,566,512.84 compared to ¥6,276,958.53 in the same period of 2013[18] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,864,801,192.08, a 1.83% increase from ¥1,831,202,942.62 at the end of the previous year[8] - Accounts receivable increased by 51.99% to ¥380,512,786.04, primarily due to an increase in sales contracts not yet due for payment[17] - Prepaid accounts increased by 64.27% to ¥72,005,931.46, mainly due to increased advance payments for material purchases[17] Cash Flow - Cash flow from operating activities showed a net outflow of ¥111,526,172.88, which is a 692.98% increase in outflow compared to ¥-14,064,214.56 in the same period last year[8] - The net cash flow from operating activities for Q1 2014 was -¥111,526,172.88, a decrease of 692.98% from -¥14,064,214.56 in Q1 2013[19] - The net cash flow from investing activities improved by 48.66%, with a net outflow of -¥6,937,081.15 compared to -¥13,512,806.07 in the previous year[19] Shareholder Information - The number of shareholders at the end of the reporting period was 53,435[11] - The largest shareholder, China National Nuclear Corporation Suzhou Valve Factory, holds 17.92% of the shares, totaling 38,175,200 shares[11] Expenses and Losses - The company reported a significant increase in income tax expenses, rising by 540.64% to ¥3,715,312.01 due to higher total profit[18] - Financial expenses decreased by 58.17% to ¥1,411,165.51, attributed to foreign exchange gains and reduced interest expenses[18] - The company experienced a 66.60% increase in asset impairment losses, totaling ¥4,392,691.48, primarily due to an increase in accounts receivable[18] - Minority interests loss increased by 7271.68%, resulting in a loss of -¥917,469.72, influenced by subsidiary performance[18] Non-Operating Income - Non-operating income rose by 38.81% to ¥2,667,455.69, mainly from increased subsidy income[18] Operational Developments - The company completed the construction of its key nuclear valve production capacity expansion project, which is now fully operational[20] Corporate Governance - The company has made commitments to avoid competition with its parent group, ensuring no direct or indirect competition in its main business activities[22]
中核科技(000777) - 2013 Q4 - 年度财报
2014-03-24 16:00
Financial Performance - The company's operating revenue for 2013 was ¥941,615,250.25, an increase of 15.94% compared to ¥812,130,358.15 in 2012[20]. - The net profit attributable to shareholders was ¥64,282,469.11, reflecting a growth of 6.27% from ¥60,487,327.49 in the previous year[20]. - The net cash flow from operating activities was ¥175,239,103.12, a significant improvement from a negative cash flow of ¥2,041,969.03 in 2012, marking an increase of 8,681.87%[20]. - The basic earnings per share increased to ¥0.3018, up 6.27% from ¥0.284 in 2012[20]. - The total assets at the end of 2013 were ¥1,831,202,942.62, a 5.61% increase from ¥1,733,967,862.87 at the end of 2012[20]. - The company achieved a main business income of ¥935,686,800, which is a 16.04% increase from ¥806,378,600 in the previous year[24]. - The company reported a total profit of ¥69,838,554.78, with a net profit attributable to shareholders of ¥64,282,469.11, reflecting a year-on-year increase[77]. - The proposed cash dividend for 2013 is ¥1.00 per 10 shares (tax included), with a total cash dividend distribution of ¥21,300,977.40, representing 33.14% of the net profit attributable to shareholders[81]. - The total distributable profit at the end of 2013 was ¥363,646,171.13, after accounting for the legal surplus reserve and actual shareholder distributions[81]. Shareholding Structure - The company’s total share capital is 168 million shares, with the controlling shareholder being China National Nuclear Corporation, holding 27.25% of the shares[17]. - The company has undergone significant changes in its shareholding structure, with the latest adjustments involving the transfer of shares to natural persons[17]. - The controlling shareholder, China National Nuclear Corporation, holds 66.72% of the shares in China Nuclear Su Valve Technology Co., Ltd. through its subsidiary, China Nuclear International Co., Ltd.[120]. - The company reported a total registered capital of 1,000,000,000 shares, with 489,168,308 shares issued as of the report date[120]. - The shareholding structure shows that CNNC is the largest shareholder, with no related party transactions with other shareholders[118]. Business Operations - The company’s main business includes the research, design, manufacturing, and sales of industrial valves and related electromechanical products[17]. - The company plans to enhance its market competitiveness by developing high-end valve markets, including those for nuclear power and chemical industries[26]. - The company aims to optimize its product structure and increase the added value of its valve products to meet the demands of high-end markets[27]. - The company has maintained a strong brand presence and aims to expand its market share both domestically and internationally[27]. - The company is actively developing new valve products for emerging industries such as LNG and coal chemical[68]. Research and Development - The company increased its investment in technology research and development, with actual expenditures of CNY 55.41 million for projects related to high-end key valves and capacity expansion[32]. - Research and development expenses amounted to ¥30.645 million, accounting for 3.25% of the annual revenue, with a year-on-year increase of 22.72%[40]. - The company will continue to prioritize research and development of high-end valve products, ensuring its leading position in key valve design and manufacturing capabilities[68]. - The company has a comprehensive technology development system and has undertaken several national key research projects, achieving significant results in valve technology[54]. Market Challenges and Strategies - The company faces challenges due to reduced demand for valves following the Fukushima nuclear incident, impacting market orders[72]. - Financial risks are heightened due to increased capital occupation and external environmental impacts, necessitating improved financial management[72]. - The company anticipates rising costs for raw materials, which will complicate product cost control efforts[76]. - The valve industry is experiencing intense competition, with companies striving to enhance their R&D capabilities and optimize their product offerings[69]. Corporate Governance - The company guarantees the authenticity, accuracy, and completeness of the annual report, with no false records or misleading statements[4]. - The company has strengthened its internal control system and evaluation work in accordance with the guidelines from the Ministry of Finance and the China Securities Regulatory Commission[147]. - The company has established a management system for insider information and has implemented strict measures to prevent insider trading[150]. - The audit committee closely monitored the company's financial and internal control compliance during the 2013 annual report preparation, ensuring rigorous oversight[154]. Social Responsibility and Employee Welfare - The company actively participated in social welfare activities, including blood donation and charity events, enhancing its social image[87]. - In 2013, the average monthly contribution to the employee pension plan was 892 participants, enhancing employees' retirement security[84]. - The company completed 10 training programs in 2013, achieving a 100% completion rate with 1,625 participants[141]. - The company aims to implement training in seven areas in 2014, focusing on quality management and technical standards[141]. Future Outlook - The company plans to invest a total of 8,977 million yuan in major projects, with 2,023.91 million yuan already invested during the reporting period[63]. - The company aims for a revenue growth target of 20% for 2014, driven by new product launches and market expansion[130]. - The company is exploring partnerships with international firms to enhance technological capabilities and market reach[130]. - The company plans to focus on market expansion and new product development to drive future growth[93].