SANBIAN SCI-TECH(002112)

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三变科技(002112) - 2018 Q1 - 季度财报
2018-04-25 16:00
Financial Performance - The company's operating revenue for Q1 2018 was ¥106,261,054.57, representing a 20.23% increase compared to ¥88,382,584.55 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥7,678,570.33, an improvement of 39.92% from a loss of ¥12,781,334.94 in the previous year[8] - The basic earnings per share improved to -¥0.040, a 33.33% increase from -¥0.060 in the same period last year[8] - Operating profit improved by 42.62% to -¥7.68 million, due to revenue growth and significant gains from fixed asset disposals[5] - The company expects a net loss for the first half of 2018, with projected losses between ¥0 and -¥8 million, despite anticipated revenue growth and reduced bad debt provisions[8] Cash Flow and Assets - The net cash flow from operating activities improved significantly, with a net outflow of ¥14,913,011.78, an 81.96% reduction from ¥82,673,641.79 in the previous year[8] - Net cash flow from operating activities improved by 81.96% to -¥14.91 million, driven by increased customer payments and reduced supplier payments[4] - Cash and cash equivalents increased by 33.75% to ¥169.69 million, primarily due to an increase in acceptance and letter of credit deposits[1] - Total assets at the end of the reporting period were ¥1,167,732,232.99, a slight decrease of 0.07% from ¥1,168,593,483.27 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.03% to ¥370,538,184.62 from ¥378,216,754.95 at the end of the previous year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,076[11] - The largest shareholder, Zhejiang Sanbian Group Co., Ltd., held 14.77% of the shares, amounting to 29,770,931 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Liabilities and Expenses - Accounts receivable increased by 62.11% to ¥17.16 million, mainly due to a large number of received acceptance bills not yet endorsed[2] - Accounts payable increased by 87.78% to ¥130.75 million, attributed to increased financing through bank acceptance bills and payments to suppliers[3] - Financial expenses increased by 158.33% to ¥9.08 million, primarily due to significant exchange losses and increased one-time interest loans[6] Non-Recurring Gains and Asset Disposal - The company reported non-recurring gains of ¥4,843,570.32, primarily from the disposal of non-current assets and government subsidies[9] - Asset disposal gains amounted to ¥4.26 million, resulting from the sale of a fixed asset in Beijing[7] - The company completed the sale of a vacant property for ¥6.25 million, contributing ¥4.26 million to net profit[9] Strategic Decisions - The company terminated a major asset restructuring plan due to a lack of agreement with the counterparty[10]
三变科技(002112) - 2017 Q3 - 季度财报
2017-10-26 16:00
Financial Performance - Operating revenue for the reporting period was CNY 158,829,628.29, an increase of 70.77% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 24,107,768.50, a decrease of 393.13% compared to the same period last year[8] - Basic earnings per share were CNY -0.120, down 400.00% year-on-year[8] - Operating profit decreased by 43.20% to -¥56.69 million, primarily due to a significant decline in revenue and gross margin[19] - Net profit attributable to shareholders decreased by 393.13% to -¥54.58 million, driven by a substantial drop in revenue and gross margin[19] - The company expects a net loss for 2017 between -¥90.00 million and -¥82.00 million, citing a decline in operating income and rising raw material costs[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,189,251,181.42, a decrease of 3.31% compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 10.80% to CNY 450,829,952.79[8] - Cash and cash equivalents decreased by 51.64% to ¥79.08 million, primarily due to the expiration of bank acceptance bills and a significant reduction in guarantee deposits[16] - Accounts receivable decreased by 63.72% to ¥1.36 million, mainly due to the endorsement and transfer of acceptance bills received during the period[17] - Inventory increased by 38.91% to ¥275.68 million, attributed to a higher volume of unshipped orders[17] - Short-term borrowings increased by 64.20% to ¥412.00 million, primarily due to higher discount rates on bills leading to increased reliance on short-term loans[17] - Prepayments increased by 201.56% to ¥45.89 million, mainly due to an increase in advance payments from foreign customers[19] - Tax liabilities increased by 295.36% to ¥0.61 million, primarily due to an increase in unpaid taxes at the end of the period[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,720[12] - The largest shareholder, Zhejiang Sanbian Group Co., Ltd., held 14.77% of the shares[12] Other Financial Metrics - Net cash flow from operating activities was CNY -344,497.37, a decrease of 93.13% compared to the same period last year[8] - The weighted average return on net assets was -4.89%, a decrease of 15.20% year-on-year[8] - The company reported non-recurring gains and losses totaling CNY 2,114,135.31 for the year-to-date[9] - Investment income increased by 231.81% to ¥7.53 million, mainly from dividends received from the merger fund[19]
三变科技(002112) - 2017 Q2 - 季度财报
2017-08-29 16:00
Financial Performance - The company's operating revenue for the first half of 2017 was CNY 213,562,878.65, a decrease of 27.77% compared to the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY -30,472,663.05, representing a decline of 173.88% year-on-year[17]. - The net cash flow from operating activities was CNY 22,831,434.28, down 60.86% from the previous year[17]. - The basic earnings per share were CNY -0.150, a decrease of 175.00% compared to the previous year[17]. - The total assets at the end of the reporting period were CNY 1,147,133,237.01, a decrease of 6.73% from the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were CNY 474,937,721.29, down 6.03% from the previous year[17]. - The company achieved total operating revenue of 213.56 million yuan, a decrease of 27.77% compared to the same period last year[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -32.26 million yuan, a decrease of 378.18% year-on-year[31]. - The company reported a 231.81% increase in investment income, totaling 7.53 million yuan, primarily from dividends received from the Gelong merger fund[32]. - The company expects a net loss of between ¥55 million and ¥48 million for the first nine months of 2017, compared to a net profit of ¥18.62 million in the same period of 2016[52]. Operational Highlights - The company experienced a significant decline in domestic order volume, while foreign product orders saw a slight increase compared to the previous year[25]. - The gross profit margin decreased significantly, contributing to the substantial decline in net profit[25]. - The company operates in the electrical equipment manufacturing sector, which is facing intensified competition due to overcapacity and low-end product trends[25]. - Domestic sales accounted for ¥204,445,100.07, representing 95.73% of total revenue, down 25.53% year-over-year[39]. - International sales were ¥9,117,778.58, a significant decline of 56.89% from ¥21,149,323.76 in the previous year[39]. - The company plans to enhance its market share by exploring emerging markets and improving product value through process improvements[55]. - The company faces risks related to industry competition, raw material price fluctuations, and foreign exchange rates, which could impact profitability[54]. Financial Position - The company holds 63 national patents, showcasing a significant competitive advantage in proprietary technology[31]. - The company has established itself as a supplier for both the State Grid and Southern Power Grid, indicating a strong market position[31]. - The company has invested over 90 million yuan in advanced production and testing equipment from countries like Germany, the USA, and Japan[31]. - The company's cash and cash equivalents decreased from 163,546,449.02 RMB to 80,743,896.04 RMB, a decline of approximately 50.7%[102]. - Accounts receivable decreased from 414,644,570.38 RMB to 397,154,820.09 RMB, a reduction of about 4.2%[102]. - Inventory increased from 198,452,786.46 RMB to 261,608,715.24 RMB, an increase of approximately 31.8%[102]. - Total assets decreased from 1,229,936,203.22 RMB to 1,147,133,237.01 RMB, a decline of about 6.7%[103]. - Short-term borrowings increased from 250,912,398.45 RMB to 362,000,000.00 RMB, an increase of approximately 44.2%[103]. - Current liabilities totaled CNY 616,452,727.01, down from CNY 667,643,927.83, indicating a decrease of approximately 7.7%[104]. - Total liabilities decreased to CNY 672,195,515.72 from CNY 724,525,818.88, a reduction of about 7.2%[105]. Shareholder Information - The total number of shares is 201,600,000, with 90.60% being unrestricted shares[86]. - The total number of common shareholders at the end of the reporting period was 18,028[88]. - Zhejiang Sanbian Group Co., Ltd. held 14.77% of shares, totaling 29,770,931 shares[89]. - The company did not distribute cash dividends or issue bonus shares during the reporting period[6]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[59]. Corporate Governance - The company held its annual general meeting on May 19, 2017, with an investor participation rate of 27.37%[58]. - There were no major litigation or arbitration matters during the reporting period[64]. - The company has not engaged in any significant related party transactions during the reporting period[67]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[90]. - The financial statements for the first half of 2017 were approved by the board on August 28, 2017[137]. Accounting Policies - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect its financial position and operating results[140]. - The financial reports are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[139]. - The company uses a perpetual inventory system for tracking inventory levels[161]. - The company applies a percentage of receivables method for bad debt provision based on aging analysis, with rates ranging from 5% for receivables within 1 year to 100% for those over 5 years[159]. - Long-term equity investments are recognized based on the initial investment cost, which is adjusted for any differences between the cost and the book value of the acquired equity[163].
三变科技(002112) - 2016 Q4 - 年度财报
2017-04-27 16:00
Financial Performance - The company's operating revenue for 2016 was ¥484,468,087.48, a decrease of 47.82% compared to ¥928,482,689.59 in 2015[18]. - The net profit attributable to shareholders was ¥5,256,000.78, down 45.60% from ¥9,661,892.44 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was -¥56,313,002.71, a significant decline of 1,091.53% compared to ¥5,679,425.45 in 2015[18]. - Basic earnings per share decreased by 40.00% to ¥0.03 from ¥0.05 in 2015[18]. - The company's operating revenue for the distribution and control equipment segment was approximately ¥470.44 million, a decrease of 48.84% year-over-year[41]. - The gross profit margin for the distribution and control equipment segment was 15.94%, down 5.53% compared to the previous year[41]. - The total operating profit decreased significantly to -55,938,035.08 CNY from 5,363,830.88 CNY in the previous year, indicating a decline in operational performance[197]. - Net profit for the year was 5,292,492.01 CNY, down from 9,010,127.26 CNY, reflecting a decrease of approximately 41.5% year-over-year[197]. Cash Flow and Assets - The net cash flow from operating activities improved to ¥70,434,461.20, a 559.11% increase from -¥15,341,612.00 in 2015[18]. - The total cash and cash equivalents decreased by 255.42% to -¥1,713,807.08, largely due to the significant decline in net cash flow from financing activities[56]. - The company's monetary funds at the end of 2016 were ¥163,546,449.02, accounting for 13.30% of total assets, down from 14.90% in 2015[60]. - Cash inflow from operating activities totaled 941,830,504.62 CNY, a decrease of 7.5% compared to 1,017,972,053.05 CNY in the previous year[200]. - Cash outflow from operating activities was 871,396,043.42 CNY, down from 1,033,313,665.05 CNY, showing a reduction of about 15.6% year-over-year[200]. Inventory and Receivables - The company reported a significant increase in inventory levels, which rose by 62.55% to 3,030,183 KVA due to project delays[43]. - Accounts receivable decreased by 8.72% to ¥414,644,570.38, representing 33.71% of total assets[60]. - Inventory increased by 6.21% to ¥198,452,786.46, making up 16.14% of total assets[60]. - Inventory increased from CNY 142,372,302.75 to CNY 198,452,786.46, marking an increase of approximately 39.5%[184]. Investments and Subsidiaries - The company acquired a 60% stake in Zhejiang Sanbian New Energy Co., Ltd. during the reporting period[29]. - The company established a new subsidiary, Sanbian New Energy, with a 60% ownership stake, contributing to the expansion of its business scope[47]. - The company has not engaged in any significant equity investments during the reporting period[62]. - The company received compensation of 81,318,970 CNY from the Sanmen County Old Town Renovation Office and 36,604,700 CNY from the Sanmen County Land Reserve Center for land acquisition[111]. Research and Development - Research and development expenses amounted to approximately ¥21.74 million, representing 4.49% of operating revenue, an increase of 1.06% from the previous year[50]. - The company successfully launched 20 out of 23 R&D projects into the market, enhancing its product offerings and market share[50]. - The company has developed new products, including the ODFS-334000/500 transformer, which passed national quality tests, marking entry into the ultra-high voltage transformer market[35]. Market and Sales - Domestic sales accounted for 92.92% of total revenue, amounting to CNY 450.17 million, a decline of 50.66% from the previous year[39]. - Foreign sales increased by 111.75%, reaching CNY 34.30 million, compared to CNY 16.20 million in the previous year[39]. - The sales revenue of the combination transformer decreased by 76.13%, contributing CNY 88.82 million to total revenue[39]. - The company reported a significant increase in foreign trade orders compared to the previous year, establishing a solid foundation for future overseas business expansion[35]. Governance and Compliance - The company has maintained a clean record with no penalties or corrective actions during the reporting period[90]. - The company does not provide remuneration to its directors serving in shareholder units, indicating a focus on corporate governance[141]. - The governance structure of the company is in compliance with the regulatory requirements set by the China Securities Regulatory Commission[162]. - The company has established a comprehensive human resources management system, gradually improving the performance evaluation system for directors, supervisors, and senior management personnel[158]. Risks and Challenges - The company has identified potential risk factors in its future operations, which investors are advised to consider[5]. - The company faces industry risks due to overcapacity and intensified competition, which may pressure profit margins and market expansion efforts[72]. - Raw material price fluctuations, particularly for copper, steel, and silicon steel, pose a significant risk to production costs and profitability[72]. Employee and Management - The total number of employees in the company is 859, with 854 in the parent company and 5 in major subsidiaries[148]. - The total remuneration for the chairman, Lu Xuri, is 401,000 CNY, while the total for the general manager, Yu Shangqun, is 360,600 CNY[147]. - The company has established a compensation scheme for senior management based on performance evaluations[144]. - The company has implemented a training plan to enhance employee quality and work efficiency, successfully completing all training activities as per the annual plan[150].
三变科技(002112) - 2017 Q1 - 季度财报
2017-04-27 16:00
Financial Performance - The company's operating revenue for Q1 2017 was ¥88,382,584.55, a decrease of 28.77% compared to ¥124,080,410.20 in the same period last year[8] - The net profit attributable to shareholders was -¥12,781,334.94, representing a decline of 1,568.49% from ¥870,370.49 in the previous year[8] - The basic earnings per share were -¥0.060, a 100% decrease from ¥0.00 in the previous year[8] - Operating profit decreased by 1,841.18% to -¥1.34 million, driven by a decline in revenue and gross margin[17] - The company expects a net loss for the first half of 2017, projecting a net profit range of -¥1,500 to -¥900 million, compared to a net profit of ¥41.24 million in the same period of 2016[20] Cash Flow - The net cash flow from operating activities was -¥82,673,641.79, which is a 33.06% increase in cash outflow compared to -¥62,132,167.57 in the same period last year[8] - Net cash flow from operating activities declined by 33.06% to -¥82.67 million, primarily due to reduced cash collection from receivables[18] - The net cash flow from investment activities increased by 1,289.95% to ¥26.16 million, primarily due to the recovery of deposit products[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,111,223,496.60, down 9.65% from ¥1,229,936,203.22 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.53% to ¥492,629,049.40 from ¥505,410,384.34 at the end of the previous year[8] - Cash and cash equivalents decreased by 42.06% to ¥94.76 million, primarily due to a reduction in acceptance margin[16] - Accounts receivable increased by 169.06% to ¥10.12 million, mainly due to a significant amount of received acceptance bills not yet endorsed[17] - Other current assets decreased by 59.71% to ¥18.17 million, attributed to the recovery of deposit products[17] - Accounts payable decreased by 49.71% to ¥123.20 million, as payments to suppliers using bank acceptance bills decreased[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,107[12] - The largest shareholder, Zhejiang Sanbian Group Co., Ltd., held 14.77% of the shares, totaling 29,770,931 shares[12] Income and Expenses - The company reported non-operating income of ¥599,629.01 during the period, primarily from government subsidies[9] - Investment income increased by 100% to ¥0.94 million, resulting from interest earned on deposit products[17] - Financial expenses decreased by 46.77% to ¥3.51 million, mainly due to a significant reduction in working capital loans[17] - The weighted average return on net assets was -2.56%, a decrease of 2.74% compared to 0.18% in the previous year[8]
三变科技(002112) - 2016 Q3 - 季度财报
2016-10-25 16:00
Financial Performance - Operating revenue for the reporting period was CNY 93,006,771.26, down 61.69% year-on-year[8] - Net profit attributable to shareholders of the listed company was a loss of CNY 22,623,850.53, a significant decline of 4,726.24% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 24,389,751.33, down 3,349.83% year-on-year[8] - Basic and diluted earnings per share were both -CNY 0.11, compared to CNY 0.09 for the same period last year, reflecting a 200.00% increase[8] - The weighted average return on net assets was -4.79%, slightly improved from -4.89% in the previous year[8] - Operating profit decreased by 867.73% to -¥3,959.09 million, reflecting a substantial decline in revenue[19] - The estimated net profit attributable to shareholders for 2016 is expected to decrease by 58.60% to 8.92%, ranging from 4 million to 8.8 million CNY[26] - The net profit for 2015 attributable to shareholders was 9.66 million CNY[26] - The decline in performance is attributed to industry overcapacity and intensified competition, leading to a decrease in main business revenue compared to the same period last year[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,253,582,150.93, a decrease of 12.57% compared to the end of the previous year[8] - Net assets attributable to shareholders of the listed company increased by 7.10% to CNY 518,801,036.91[8] - Cash and cash equivalents decreased by 49.13% to ¥10,865.67 million due to repayment of bank loans and maturing bills[16] - Accounts receivable decreased by 80.66% to ¥195.51 million as a result of significant endorsement transfers of accepted bills[17] - Inventory increased by 35.17% to ¥19,244.89 million due to a decrease in sales volume leading to higher stock levels[19] - Deferred income increased by 830.40% to ¥5,861.54 million, resulting from the transfer of special payments related to land expropriation[19] - Other current assets increased by 54.37% to ¥2,316.19 million due to prepayment of corporate income tax[19] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 53,314,254.93, a decrease of 17.09%[8] - Cash flow from investing activities increased by 195.81% to ¥10,166.29 million, attributed to compensation received from land expropriation[19] - Cash flow from financing activities decreased by 664.86% to -¥18,280.50 million due to significant loan repayments[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,471[12] - The largest shareholder, Zhejiang Sanbian Group Co., Ltd., held 15.26% of the shares, totaling 30,765,931 shares[12] Corporate Governance and Commitments - There were no violations regarding external guarantees during the reporting period[27] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[28] - The company did not engage in any research, communication, or interview activities during the reporting period[29] - The company is in the process of fulfilling commitments made during asset restructuring and initial public offerings[25] - The company plans to establish a subsidiary as part of its investment strategy[24] - The company has ongoing commitments regarding competition and related transactions with its subsidiaries[25] Other Income - The company received land storage rewards in the first half of the year, which increased profits as non-operating income[26]
三变科技(002112) - 2016 Q2 - 季度财报
2016-08-25 16:00
Financial Performance - The company's operating revenue for the first half of 2016 was ¥295,680,397.63, a decrease of 22.24% compared to ¥380,232,992.66 in the same period last year[21]. - The net profit attributable to shareholders increased significantly to ¥41,244,036.84, representing a growth of 617.13% from ¥5,751,302.57 in the previous year[21]. - The net cash flow from operating activities was ¥58,328,622.68, up 184.31% from ¥20,515,876.15 in the same period last year[21]. - Basic earnings per share rose to ¥0.200, a 566.67% increase compared to ¥0.030 in the previous year[21]. - The gross profit margin has declined during the reporting period[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -6.75 million yuan, a decrease of 217.37% year-on-year[30]. - The company reported a significant increase in non-operating income, which rose by 7,229.73% to 56.54 million yuan, attributed to land storage compensation[30][33]. - The total profit for the first half of 2016 was CNY 36,679,932.50, compared to CNY 5,867,680.81 in the same period of 2015[120]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,414,509,426.69, a decrease of 1.34% from ¥1,433,783,242.66 at the end of the previous year[21]. - Current liabilities totaled CNY 813,931,018.67, down from CNY 943,076,657.49, indicating a reduction of approximately 13.7%[112]. - Non-current liabilities increased significantly to CNY 59,153,520.58 from CNY 6,300,000.00, reflecting a substantial rise in deferred income[112]. - The total liabilities decreased to CNY 873,084,539.25 from CNY 949,376,657.49, indicating a decline of about 8.0%[112]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[6]. - The company plans to distribute a cash dividend of 0.1 RMB per share based on the total share capital of 201,600,000 shares for the 2015 fiscal year[52]. - The total number of common shareholders at the end of the reporting period is 25,476[95]. - Zhejiang Sanbian Group holds 15.26% of shares, totaling 30,765,931 common shares[95]. - The company's total shares amount to 201,600,000, with 10.14% being limited sale shares and 89.86% being unrestricted sale shares[91]. Market and Competition - The management noted that the power construction investment growth rate has slowed down, leading to continued oversupply in the power transmission and transformation equipment industry[29]. - The company faced intensified competition due to demand shrinkage and low-price competition in the industry[29]. - Domestic sales decreased by 26.76% to 269.50 million yuan, while international sales increased by 196.17% to 21.15 million yuan[37]. - The company has established a nationwide sales network and is actively expanding into overseas markets, becoming a supplier for major state-owned power grids[38]. Research and Development - The company’s research and development expenses were 12.27 million yuan, a decrease of 11.96% compared to the previous year[35]. - The company is focusing on technological innovation in energy-saving, environmentally friendly, and high-performance products, with ongoing R&D for 500kV products[38]. - The company has obtained 70 national patents, showcasing significant proprietary technology and competitive advantages in energy-saving, environmentally friendly, and high-performance products[39]. - The company has invested over 90 million RMB in advanced production and testing equipment from Germany, the USA, and Japan, enhancing its production capacity[39]. Governance and Compliance - The company has maintained a strong governance structure in compliance with relevant laws and regulations[58]. - The company has not faced any major litigation or arbitration matters during the reporting period[59]. - The company has no stock incentive plans or their implementations during the reporting period[64]. - The company did not engage in any related party transactions during the reporting period[65]. Cash Flow and Financing - The company reported operating cash inflows of CNY 623,913,174.70, an increase from CNY 531,198,288.33 in the same period last year[126]. - Total cash inflow from financing activities amounted to 540,812,398.45 CNY, compared to 189,916,685.00 CNY in the prior period, indicating a significant increase of about 184%[128]. - The net cash flow from investment activities was 102,767,015.57 CNY, a recovery from a negative cash flow of -15,094,684.86 CNY in the previous period[131]. - The total cash outflow from financing activities was 673,312,563.41 CNY, compared to 221,787,624.59 CNY in the previous period, reflecting an increase of approximately 203%[128]. Financial Reporting - The semi-annual financial report has not been audited[81]. - The financial report for the half-year period was not audited[108]. - The company adheres to the enterprise accounting standards, ensuring the financial statements are true and complete[149]. - The reporting period for the financial statements is from January 1, 2016, to June 30, 2016[150]. Taxation - The company confirmed that its income tax rate is 15% due to its status as a high-tech enterprise, which is valid until December 31, 2016[200]. - The company has a tax rate of 25% for its subsidiary, Zhejiang Sanbian Import and Export Co., Ltd[199]. - The company’s value-added tax rate is 17% on sales of goods or taxable services[199].
三变科技(002112) - 2016 Q1 - 季度财报
2016-04-28 16:00
Revenue and Profit - Revenue for the first quarter was ¥124,080,410.20, a decrease of 13.87% compared to ¥144,060,638.70 in the same period last year[8] - Net profit attributable to shareholders was ¥870,370.49, down 40.26% from ¥1,456,816.85 year-on-year[8] - Basic earnings per share decreased by 42.86% to ¥0.004 from ¥0.007[8] - Operating profit declined by 45.69% primarily due to a significant decrease in operating revenue[17] - The expected net profit attributable to shareholders for the first half of 2016 is projected to decrease by 65.23% to 16.54% compared to the same period in 2015[24] Cash Flow - Net cash flow from operating activities was -¥62,132,167.57, an increase of 621.63% compared to -¥8,609,955.82 in the previous year[8] - Net cash flow from operating activities decreased by 621.63% due to a reduction in cash collection from sales[17] - Net cash flow from investing activities increased by 20.08% due to a decrease in cash paid for fixed asset purchases[17] - Net cash flow from financing activities increased by 515.09% primarily due to a significant increase in bank loans[17] - The company’s financing activities generated a net cash flow of ¥6,114.19 million, a significant improvement from -¥1,472.99 million in the previous year[15] Assets and Shareholders - Total assets at the end of the period were ¥1,444,690,070.14, an increase of 0.76% from ¥1,433,783,242.66 at the end of the previous year[8] - The number of ordinary shareholders at the end of the period was 22,074[11] - The largest shareholder, Zhejiang Sanbian Group Co., Ltd., held 15.26% of shares, totaling 30,765,931 shares[11] Expenses and Liabilities - The company reported a significant decrease in employee compensation payable by 46.39% to ¥586.23 million from ¥1,093.52 million[15] - The company experienced a 72.44% decrease in taxes payable, amounting to ¥490.32 million compared to ¥1,779.29 million last year[15] - Financial expenses increased by 67.61% due to a significant increase in working capital loans[17] - Sales tax and additional charges increased by 7475.51% mainly due to the growth in value-added tax payable[17] Impairment and Restructuring - The impairment loss decreased by 66.69% mainly due to the reduction in long-aged receivables and the decrease in bad debt provisions[17] - The company is currently undergoing a major asset restructuring process, with relevant work still ongoing[19] - The company has signed a land acquisition contract with the local land reserve center, with a transaction amount of 262 million yuan[19] Compliance and Activities - No non-operating fund occupation by controlling shareholders and related parties during the reporting period[27] - No violations of external guarantees reported during the reporting period[25] - No research, communication, or interview activities conducted during the reporting period[28]
三变科技(002112) - 2015 Q3 - 季度财报
2015-10-27 16:00
Financial Performance - Operating revenue for the reporting period was CNY 242,757,927.83, a slight increase of 0.90% year-on-year[8] - Net profit attributable to shareholders decreased by 77.98% to CNY 489,033.19 compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -706,984.69, a decrease of 149.44% year-on-year[8] - The weighted average return on net assets was 0.10%, a decrease of 0.38% compared to the previous year[8] - The company reported a basic earnings per share of CNY 0, a decrease of 100% year-on-year[8] - Net profit attributable to shareholders decreased by 32.84% to ¥6,240,300 from ¥9,291,800, mainly due to a decline in gross profit margin[22] - Investment income fell by 52.95% to ¥1,037,400 from ¥2,204,900, attributed to losses in copper hedging[16] - The estimated net profit attributable to shareholders for 2015 is projected to be between 7 million and 15 million CNY, representing a decrease of 58.11% to 10.23% compared to the previous year[25] - The net profit for 2014 was reported at 16.7097 million CNY[25] - The decline in profit is attributed to a decrease in gross profit margin on product orders, an increase in accounts receivable, and higher provisions for bad debts[25] Assets and Liabilities - Total assets increased by 18.26% to CNY 1,538,468,061.79 compared to the end of the previous year[8] - Total liabilities increased, with tax payable rising by 101.89% to ¥1,050,600 from ¥520,390 due to increased VAT and additional taxes[16] - Accounts payable increased by 66.36% to ¥46,665,000 from ¥28,050,000 due to a higher number of newly issued bank acceptance bills[16] - Prepayments increased by 226.38% to ¥14,747,900 from ¥4,518,600 due to an increase in material procurement using prepayment methods[15] - Available-for-sale financial assets surged by 2424.24% to ¥104,125,000 from ¥4,125,000 as a result of capital investment in Guotai Junan Gelong M&A Equity Investment Fund[16] Cash Flow - Cash flow from operating activities increased by 247.85% to CNY 64,299,905.51 year-to-date[8] - Net cash flow from operating activities improved by 247.85% to ¥6,429,990 from -¥4,349,010, primarily due to a significant reduction in payments to suppliers[21] - Cash flow from investing activities decreased by 511.22% to -¥10,611,230 from -¥1,736,060 due to increased external investments[22] - Cash flow from financing activities decreased by 58.90% to ¥3,236,290 from ¥7,874,840, primarily due to a significant reduction in loan acquisition[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,132[11] - Zhejiang Sanbian Group Co., Ltd. held 15.26% of shares, making it the largest shareholder[11] Corporate Actions - The company is currently undergoing a major asset restructuring, with ongoing work as of the reporting period[18] - Non-recurring gains and losses totaled CNY 1,199,855.36 for the year-to-date[9]
三变科技(002112) - 2015 Q2 - 季度财报
2015-08-26 16:00
Financial Performance - The company's operating revenue for the first half of 2015 was CNY 380,232,992.66, a decrease of 2.19% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 5,751,302.57, down 18.66% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 5,747,465.09, representing an 8.75% decrease from the previous year[20]. - The basic earnings per share decreased by 25.00% to CNY 0.030 compared to the same period last year[20]. - The weighted average return on net assets was 1.20%, down from 1.52% in the previous year[20]. - The expected net profit for the first three quarters of 2015 is projected to be between 500,000 and 900,000 yuan, reflecting a decrease of 46.19% to 3.14% compared to the same period in 2014[52]. - The company reported a total profit of CNY 5,867,680.81, a decrease of 17.2% from CNY 7,084,347.03 in the same period last year[113]. Cash Flow - The net cash flow from operating activities was CNY 20,515,876.15, an increase of 2.62% compared to the same period last year[20]. - The net cash flow from operating activities for the first half of 2015 was ¥20,515,876.15, an increase from ¥19,991,772.25 in the same period of 2014, reflecting a growth of approximately 2.6%[119]. - The net cash flow from investing activities decreased by 303.60% to -¥19,616,212.96, attributed to increased external investments[34]. - The net cash flow from financing activities decreased by 285.50% to -¥36,215,152.85, primarily due to a significant reduction in loan acquisition[34]. - The ending balance of cash and cash equivalents was ¥12,276,175.61, a decrease from ¥65,305,832.81 in the previous year, reflecting a drop of approximately 81.2%[120]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,355,593,649.50, reflecting a growth of 4.21% from the end of the previous year[20]. - Total liabilities amounted to CNY 875,097,654.20, up from CNY 819,893,331.95, reflecting an increase of about 6.7%[107]. - Current liabilities totaled CNY 868,347,654.20, compared to CNY 812,693,331.95, indicating a rise of approximately 6.9%[107]. - The company's equity attributable to shareholders reached CNY 480,495,995.30, slightly up from CNY 476,760,692.73, showing a growth of about 0.5%[108]. - The total equity at the end of the current period is CNY 480,988,527.75, showing an increase from the previous period[129]. Market and Competition - The company faced increased market competition and pressure due to the economic downturn and reduced infrastructure investment[28]. - Domestic sales accounted for ¥367,990,563.72, reflecting a 0.98% increase year-on-year, while international sales dropped by 60.66% to ¥7,140,949.15[37]. - The company is actively pursuing the development of new products, including offshore wind power transformers, to enhance market competitiveness[35]. Research and Development - The company’s research and development investment rose by 25.09% to ¥13,933,153.39[33]. - The company has developed proprietary technology with 64 national patents, focusing on energy-saving, environmentally friendly, and high-performance products[39]. - The company’s research institute has been recognized as a provincial-level enterprise research institute, enhancing its influence and competitiveness[39]. Shareholder Information - The total number of shares is 201,600,000, with 89.76% being unrestricted shares[90]. - The company’s shareholder structure remains stable, with no significant changes reported in the last year[91]. - Zhejiang Sanbian Group holds 15.26% of the shares, amounting to 30,765,931 ordinary shares[93]. - The top ten shareholders include Zhejiang Sanbian Group, Lu Xuri, and others, with the largest holding being 30,765,931 shares[93]. Corporate Governance - The company has no significant projects funded by non-raising funds during the reporting period[51]. - The company did not experience any bankruptcy reorganization during the reporting period[62]. - The company has no major litigation or arbitration matters during the reporting period[60]. - The financial statements have been approved by the board of directors on August 26, 2015, ensuring compliance with accounting standards[136]. Accounting Policies - The accounting policies adopted by the company reflect adherence to the enterprise accounting standards, ensuring accurate financial reporting[138]. - The company recognizes revenue from sales of products when the risks and rewards of ownership are transferred, and the revenue amount can be reliably measured[183]. - The company’s income tax rates include a 15% rate for its main entity and a 25% rate for its subsidiaries, indicating a variance in tax obligations[192].