天邑股份(300504) - 2024 Q3 - 季度财报

Key Financial Data This section presents the company's key financial performance indicators and their changes for the reporting period and year-to-date Key Accounting Data and Financial Indicators The company's key financial indicators for Q3 2024 and year-to-date show significant declines in operating revenue and net profit attributable to shareholders, with operating cash flow remaining negative but improving Key Accounting Data and Financial Indicators (Current Period and Year-to-Date) | Indicator | Current Period (Yuan) | YoY Change (Current Period) | Year-to-Date (Yuan) | YoY Change (Year-to-Date) | | :----------------------------------- | :---------------- | :--------------------- | :-------------------- | :----------------------- | | Operating Revenue | 396,513,707.09 | -36.26% | 1,449,704,102.49 | -27.59% | | Net Profit Attributable to Shareholders | 5,094,556.58 | -82.02% | 38,474,237.91 | -68.88% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Gains/Losses) | 4,376,419.06 | -84.65% | 40,630,710.49 | -66.13% | | Net Cash Flow from Operating Activities | -- | -- | -55,083,460.37 | 22.56% | | Basic Earnings Per Share (Yuan/share) | 0.0180 | -82.87% | 0.1417 | -69.00% | | Weighted Average Return on Net Assets | 0.23% | -1.01% | 1.70% | -3.80% | | Period-End Indicators | Period-End (Yuan) | Previous Year-End (Yuan) | Change from Previous Year-End | | | Total Assets | 2,792,031,471.32 | 3,047,221,011.22 | -8.37% | | | Shareholders' Equity Attributable to the Company | 2,233,606,811.31 | 2,279,530,949.57 | -2.01% | | Non-Recurring Gains and Losses Items and Amounts The company reported non-recurring gains of 718,137.52 Yuan for the current period and losses of 2,156,472.58 Yuan year-to-date, primarily from government grants and financial instrument fair value changes Non-Recurring Gains and Losses Items and Amounts (Unit: Yuan) | Item | Current Period Amount (Yuan) | Year-to-Date Amount (Yuan) | | :-------------------------------------------------------------------------------------------------------------------------------------- | :----------- | :------------------- | | Gains/Losses from Disposal of Non-Current Assets | -50,462.45 | -55,428.68 | | Government Grants Recognized in Current Profit/Loss | 1,086,938.41 | 2,925,659.38 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities Held by Non-Financial Enterprises (Excluding Effective Hedging Related to Normal Operations) | 778,749.54 | 2,804,693.55 | | Other Non-Operating Income and Expenses (Excluding Above Items) | -970,357.83 | -8,211,950.82 | | Less: Income Tax Impact | 126,730.15 | -380,553.99 | | Total | 718,137.52 | -2,156,472.58 | Changes and Reasons for Key Accounting Data and Financial Indicators Changes in key financial indicators are primarily driven by declining sales, exchange rate fluctuations, increased asset impairment, and contract compensation, leading to reduced operating revenue and net profit - Reasons for Key Financial Indicator Changes: - Operating Revenue: Current period sales declined year-over-year, with main business revenue decreasing, leading to a 27.59% year-over-year decrease in operating revenue[6][7] - Net Profit: Decreased main business revenue and gross profit margin resulted in a 68.88% year-over-year decrease in net profit[6][7] - Selling Expenses: A decrease in share-based payments and other expenses led to a 33.62% year-over-year decrease in selling expenses[6][7] - Financial Expenses: Increased exchange losses due to exchange rate fluctuations resulted in a 127.23% year-over-year increase in financial expenses[6][7] - Other Income: A decrease in immediate VAT refunds compared to the prior period led to a 39.03% year-over-year decrease in other income[6][7] - Asset Impairment Losses: Increased asset impairment losses in the current period resulted in a 56.94% year-over-year increase[6][7] - Non-Operating Expenses: Contract compensation incurred in the current period led to a 761.44% year-over-year increase in non-operating expenses[6][7] - Cash and Cash Equivalents: Increased accounts receivable and the company's investment of idle funds in wealth management products led to a 37.19% decrease in period-end cash and cash equivalents compared to the beginning of the period[6][7] - Trading Financial Assets: An increase in wealth management product investments resulted in a 98.58% increase in period-end trading financial assets compared to the beginning of the period[6][7] - Accounts Receivable: The company's sales collection in the current period was lower than the prior year, leading to a 33.31% increase in period-end accounts receivable compared to the beginning of the period[6][7] - Accounts Payable: Decreased payables for goods and engineering projects resulted in a 39.26% decrease in period-end accounts payable compared to the beginning of the period[6][7] Shareholder Information This section provides details on the company's common and preferred shareholders, including the total number of shareholders and the top ten holders Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the reporting period end, the company had 28,904 common shareholders, with Sichuan Tianyi Group Co., Ltd. as the largest shareholder at 30.91%, and several natural person shareholders acting in concert - Total number of common shareholders at period-end: 28,904[8] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Restricted Shares Held (shares) | | :---------------------------------------------------------------- | :----------------------------------- | :---------------------- | :---------------------------------------- | | Sichuan Tianyi Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 30.91% | 0 | | Li Shihong | Domestic Natural Person | 9.33% | 18,963,075 | | Li Junhua | Domestic Natural Person | 9.14% | 18,588,840 | | Li Junxia | Domestic Natural Person | 7.28% | 14,788,440 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.85% | 0 | | Shanghai Sixie Investment Management Co., Ltd. - Siji No. 8 Private Investment Fund | Other | 0.82% | 0 | | Liu Xue | Domestic Natural Person | 0.62% | 0 | | He Xiangyun | Domestic Natural Person | 0.26% | 0 | | Bai Yunbo | Domestic Natural Person | 0.17% | 343,069 | | Zhou Luyun | Domestic Natural Person | 0.13% | 0 | - Explanation of Shareholder Affiliation or Concerted Action: Li Shihong, Li Junxia, and Li Junhua are shareholders of Sichuan Tianyi Group Co., Ltd. and act in concert. Li Shihong has signed a concerted action agreement with Shanghai Sixie Investment Management Co., Ltd. - Siji No. 8 Private Investment Fund. Bai Yunbo is a director and general manager of the company and is not a concerted party with the actual controller[8] Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[9] Changes in Restricted Shares During the reporting period, the total restricted shares decreased from 1,672,162 to 261,287, primarily due to the release of 1,479,300 restricted shares for incentive plan participants, while some directors' and senior executives' restricted shares increased due to departures Changes in Restricted Shares (Unit: shares) | Shareholder Name | Restricted Shares at Period Beginning | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Restricted Shares at Period End | Reason for Restriction | | :----------------------------------- | :---------------------------------- | :------------------------------------------- | :------------------------------------------- | :------------------------------ | :------------------------------------------- | | Restricted Stock Incentive Participants | 1,479,300 | 1,479,300 | 0 | 0 | | | Zhao Hongquan (Excluding Equity Incentive Shares) | 170,887 | 0 | 62,600 | 233,487 | Director and Senior Executive Departing Due to Term Expiration | | Wu Jingqiu | 12,975 | 0 | 4,325 | 17,300 | Supervisor Departing Due to Term Expiration | | Liu Xiong | 9,000 | 0 | 1,500 | 10,500 | Senior Executive Departing Before Term Expiration | | Total | 1,672,162 | 1,479,300 | 68,425 | 261,287 | -- | Other Significant Matters During the reporting period, the company had no other significant matters requiring disclosure Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the third quarter, including the balance sheet, income statement, and cash flow statement Financial Statements The Q3 2024 financial statements indicate declines in total assets and shareholders' equity, with notable shifts in current assets and liabilities, significant year-over-year drops in operating revenue and net profit, and varied cash flow movements across operating, investing, and financing activities Consolidated Balance Sheet As of the reporting period end, total assets were 2,792,031,471.32 Yuan, a 8.37% decrease from the period beginning, with total liabilities decreasing by 27.27% and shareholders' equity attributable to the parent company decreasing by 2.01% Key Consolidated Balance Sheet Item Changes (Unit: Yuan) | Item | Period-End Balance | Period-Beginning Balance | Change Percentage | | :----------------------------------- | :--------------- | :--------------- | :------- | | Cash and Cash Equivalents | 371,753,828.11 | 591,910,208.09 | -37.19% | | Trading Financial Assets | 111,901,815.41 | 56,351,579.90 | 98.58% | | Notes Receivable | 96,113,753.55 | 70,761,353.74 | 35.83% | | Accounts Receivable | 598,077,702.85 | 448,636,389.42 | 33.31% | | Inventories | 854,014,562.72 | 1,071,578,878.07 | -20.29% | | Investments in Other Equity Instruments | 30,437,323.16 | 56,320,131.71 | -45.96% | | Accounts Payable | 300,536,733.99 | 494,792,102.59 | -39.26% | | Employee Benefits Payable | 46,224,039.03 | 70,419,787.34 | -34.36% | | Total Liabilities | 558,424,660.01 | 767,690,061.65 | -27.27% | | Total Shareholders' Equity Attributable to Parent Company | 2,233,606,811.31 | 2,279,530,949.57 | -2.01% | Consolidated Income Statement from Year-Beginning to Report Period End Year-to-date, total operating revenue reached 1,449,704,102.49 Yuan, a 27.59% year-over-year decrease, with operating profit down 64.57% and net profit down 68.88%, while financial expenses significantly increased due to exchange losses Key Consolidated Income Statement Item Changes (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | Change Percentage | | :----------------------------------- | :--------------- | :--------------- | :------- | | Total Operating Revenue | 1,449,704,102.49 | 2,002,215,279.06 | -27.59% | | Total Operating Costs | 1,395,613,417.62 | 1,865,332,432.80 | -25.29% | | Operating Costs | 1,214,789,073.42 | 1,635,637,090.95 | -25.73% | | Selling Expenses | 59,235,804.14 | 89,240,741.48 | -33.62% | | Administrative Expenses | 38,485,620.13 | 45,795,716.82 | -15.96% | | Research and Development Expenses | 70,300,881.76 | 84,577,954.51 | -16.99% | | Financial Expenses | 6,068,857.14 | 2,670,802.80 | 127.23% | | Other Income | 16,223,302.10 | 26,608,616.31 | -39.03% | | Credit Impairment Losses | -7,365,059.45 | -11,881,732.95 | -38.01% | | Asset Impairment Losses | -15,019,690.83 | -9,570,108.14 | 56.94% | | Non-Operating Expenses | 8,229,275.38 | 955,296.80 | 761.44% | | Total Profit | 42,466,550.74 | 142,196,994.31 | -70.14% | | Net Profit | 38,474,237.91 | 123,630,873.11 | -68.88% | | Basic Earnings Per Share | 0.1417 | 0.4571 | -69.00% | Consolidated Cash Flow Statement from Year-Beginning to Report Period End Year-to-date, net cash flow from operating activities was -55,083,460.37 Yuan, a 22.56% reduction in net outflow, while investing activities saw a 44.01% decrease in net outflow, and financing activities experienced an 18.30% increase in net outflow Key Consolidated Cash Flow Statement Item Changes (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | Change Percentage | | :----------------------------------- | :--------------- | :--------------- | :------- | | Net Cash Flow from Operating Activities | -55,083,460.37 | -71,127,238.51 | 22.56% | | Net Cash Flow from Investing Activities | -83,464,666.20 | -149,081,291.37 | 44.01% | | Net Cash Flow from Financing Activities | -65,855,000.90 | -55,665,351.71 | 18.30% | | Net Increase in Cash and Cash Equivalents | -212,426,133.33 | -277,980,475.42 | 23.60% | | Period-End Cash and Cash Equivalents Balance | 328,440,599.53 | 384,793,417.55 | -14.64% | Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2024 The company did not disclose adjustments to financial statement items at the beginning of the first year of adopting new accounting standards from 2024, indicating no such adjustments were made - The company did not disclose adjustments to financial statement items at the beginning of the first year of adopting new accounting standards from 2024[16] Audit Report The company's 2024 third-quarter report is unaudited - The company's third-quarter report is unaudited[17]