新开源(300109) - 2024 Q3 - 季度财报

Key Financial Data Core Financial Indicators The company experienced a decline in Q3 and YTD performance, with Q3 revenue down 12.00% and net profit down 31.11%, while total assets increased by 7.08% from year-end Core Financial Indicators (RMB) | Indicator | Current Period (Q3) | YoY Change | Year-to-Date (YTD) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 376,194,402.23 | -12.00% | 1,110,998,865.19 | -7.92% | | Net Profit Attributable to Shareholders (RMB) | 98,313,355.60 | -31.11% | 311,243,169.86 | -23.13% | | Net Profit Attributable to Shareholders (Excl. Non-recurring) (RMB) | 103,645,315.62 | -27.73% | 321,846,974.08 | -19.80% | | Net Cash Flow from Operating Activities (RMB) | -- | -- | 283,480,027.15 | -17.81% | | Basic EPS (RMB/share) | 0.20 | -55.56% | 0.66 | -22.35% | | Weighted Average ROE | 2.84% | -1.43% | 8.83% | -3.44% | Balance Sheet Indicators (RMB) | Indicator | End of Current Period | End of Prior Year | Change | | :--- | :--- | :--- | :--- | | Total Assets (RMB) | 4,304,209,290.31 | 4,019,691,116.69 | 7.08% | | Total Equity Attributable to Shareholders (RMB) | 3,506,276,667.29 | 3,545,992,105.91 | -1.12% | Non-recurring Gains and Losses Analysis Year-to-date, the company's total non-recurring losses amounted to -10.6038 million RMB, mainly from fair value changes and asset disposals, partially offset by government grants Non-recurring Gains and Losses (Year-to-Date) (RMB) | Item (Year-to-Date Amount) | Amount (RMB) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -7,518,481.97 | | | Government Grants Included in Current Profit/Loss | 8,690,240.25 | | | Gains/Losses from Changes in Fair Value of Financial Assets and Liabilities | -10,631,273.87 | | | Other Non-operating Income and Expenses | -4,079,353.09 | | | Total | -10,603,804.22 | | Changes and Reasons for Key Financial Data Significant changes in financial indicators include increased prepayments and accounts receivable financing, substantial growth in short-term and long-term borrowings, and considerable losses in investment income and fair value changes - Asset and Liability Changes: - Short-term borrowings: Increased by 1417.62%, primarily due to increased bank loans for working capital[5] - Long-term borrowings: Increased by 415.46%, primarily due to increased bank borrowings[5] - Prepayments: Increased by 136.18%, primarily due to increased prepayments for materials and equipment[5] - Long-term deferred expenses: Increased by 119.31%, primarily due to increased investment in long-term usable materials[5] - Accounts receivable financing: Increased by 76.78%, primarily due to increased bill pool settlement volume[6] - Trading financial assets: Decreased by 31.09%, primarily due to a decline in the stock price of Hong Kong Yongtai Company[6] - Income Statement Changes: - Non-operating expenses: Increased by 1196.82%, primarily due to increased charitable donations[6] - Investment income: Loss increased by 452.88%, primarily due to increased losses from subsidiary derecognition[6] - Gains from changes in fair value: Loss increased by 312.28%, primarily due to increased fair value losses from the investment in Hong Kong Yongtai Bio-tech Company[6] - Cash Flow Statement Changes: - Net cash flow from financing activities: Changed from -166 million RMB in the prior period to 9.4578 million RMB in the current period, primarily due to increased cash received from borrowings[6] Shareholder Information Shareholder Holdings As of the reporting period end, the company had 22,011 common shareholders, with Wang Donghu as the largest shareholder at 8.68%, and he, Yang Haijiang, and Ren Dalong are the actual controllers - The total number of common shareholders at the end of the reporting period was 22,011[7] Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Pledged Status | | :--- | :--- | :--- | :--- | | Wang Donghu | 8.68% | 42,095,222 | 34,820,000 | | Wuhu Great Wall Guolong Investment Management Co., Ltd. - Wuhu Changqian Investment Center (Limited Partnership) | 3.88% | 18,800,236 | Not applicable | | Wang Jianqiang | 3.28% | 15,896,452 | Not applicable | | Yang Haijiang | 3.03% | 14,709,240 | Not applicable | | Zhao Tian | 2.01% | 9,742,884 | Not applicable | - Wang Donghu, Yang Haijiang, and Ren Dalong are the company's actual controllers and parties acting in concert[8] Changes in Restricted Shares The company's total restricted shares increased from 29.833 million to 36.361 million during the period, mainly due to increased executive lock-up shares and partial release of 2021 incentive plan shares Restricted Shares Movement | Shareholder Name/Item | Restricted Shares at Beginning of Period | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Restricted Shares at End of Period | | :--- | :--- | :--- | :--- | :--- | | Wang Donghu | 21,047,611 | 0 | 10,523,806 | 31,571,417 | | 2021 Restricted Stock Incentive Plan First Grant to Other 292 Individuals | 4,725,000 | 4,322,250 | 0 | 0 | | 2021 Restricted Stock Incentive Plan Reserved Grant to Other 17 Individuals | 630,000 | 480,000 | 0 | 0 | | Total | 29,833,040 | 6,374,250 | 13,455,444 | 36,361,484 | Other Significant Matters The company advanced significant matters including external investments in Huadao Bio and Beijing Zhongqi Huiyun, termination of an A-share private placement, implementation of a dividend and share transfer scheme, and adjustments to equity incentive plans - External Investments: - Invested 20 million RMB to increase capital in Huadao (Shanghai) Biomedical Co., Ltd., holding 11.5969% after the investment[11] - Invested 30 million RMB to increase capital in Beijing Zhongqi Huiyun Technology Co., Ltd., holding 10% after the investment[11] - Capital Operations: - Terminated the 2024 private placement of A-shares[11] - Implemented the 2023 annual dividend and share transfer plan: 2 bonus shares and 10 RMB (tax inclusive) per 10 shares, and 3 shares transferred from capital reserve per 10 shares[11] - Equity Incentives: - Adjusted the number of shares in the 2021 and 2023 restricted stock incentive plans[11] - Partial shares from the 2021 restricted stock incentive plan completed release of restrictions and became tradable[11] - Repurchased and cancelled 552,750 restricted shares from 18 incentive recipients under the 2021 incentive plan, reducing the company's total share capital[12] Quarterly Financial Statements Consolidated Balance Sheet As of the reporting period end, total assets reached 4.304 billion RMB, up 7.08%, primarily driven by a 63.73% increase in total liabilities to 818 million RMB, while equity attributable to the parent company slightly decreased Consolidated Balance Sheet (RMB) | Item | Period-end Balance (RMB) | Period-beginning Balance (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 4,304,209,290.31 | 4,019,691,116.69 | +7.08% | | Total Current Assets | 1,302,563,097.33 | 1,187,002,378.07 | +9.73% | | Total Non-current Assets | 3,001,646,192.98 | 2,832,688,738.62 | +5.96% | | Total Liabilities | 818,109,693.39 | 499,660,569.81 | +63.73% | | Total Current Liabilities | 613,383,954.81 | 426,947,980.07 | +43.67% | | Total Non-current Liabilities | 204,725,738.58 | 72,712,589.74 | +181.55% | | Total Equity Attributable to Parent Company Shareholders | 3,506,276,667.29 | 3,545,992,105.91 | -1.12% | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2024, total operating revenue decreased by 7.92% to 1.111 billion RMB, operating profit significantly declined by 29.34% to 365 million RMB, and net profit attributable to parent shareholders was 311 million RMB, down 23.13% Consolidated Income Statement (Year-to-Date) (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 1,110,998,865.19 | 1,206,530,378.32 | -7.92% | | II. Total Operating Costs | 723,049,435.36 | 682,639,472.87 | +5.92% | | Investment Income (Loss indicated by "-") | -7,600,000.00 | -1,374,626.91 | -452.88% | | Gains from Changes in Fair Value (Loss indicated by "-") | -10,631,273.87 | -2,578,677.08 | -312.28% | | III. Operating Profit (Loss indicated by "-") | 365,444,704.90 | 517,205,003.67 | -29.34% | | IV. Total Profit (Total Loss indicated by "-") | 361,362,351.81 | 518,896,345.53 | -30.36% | | V. Net Profit (Net Loss indicated by "-") | 311,979,359.16 | 401,655,901.60 | -22.33% | | Net Profit Attributable to Parent Company Shareholders | 311,243,169.86 | 404,919,102.73 | -23.13% | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2024, net cash flow from operating activities decreased by 17.81% to 283 million RMB, while financing activities shifted to a net inflow of 9.4578 million RMB due to increased borrowings Consolidated Cash Flow Statement (Year-to-Date) (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 283,480,027.15 | 344,903,303.26 | -17.81% | | Net Cash Flow from Investing Activities | -292,035,232.04 | -399,992,766.95 | +26.99% | | Net Cash Flow from Financing Activities | 9,457,768.10 | -165,622,188.72 | +105.71% | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 2,450,050.70 | 776,978.29 | +215.33% | | Net Increase in Cash and Cash Equivalents | 3,352,613.91 | -219,934,674.12 | Not applicable |