安控科技(300370) - 2024 Q3 - 季度财报

Important Notice Statement by the Board of Directors, Supervisory Board, and Senior Management The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, assuming individual and joint legal responsibility - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[2] Statement by the Company's Principal, Head of Accounting, and Head of Accounting Department The company's principal, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report - The company's principal, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[2] Whether the Third Quarter Report Has Been Audited This company's third quarter report has not been audited - The third quarter report has not been audited[2] Key Financial Data Key Accounting Data and Financial Indicators The company's Q3 2024 operating revenue increased by 3.35% year-over-year, while year-to-date operating revenue decreased by 2.55%; net profit attributable to shareholders significantly reduced losses, growing by 97.51% and 71.17% respectively, though total assets and shareholders' equity decreased from the prior year-end Key Accounting Data and Financial Indicators | Indicator | Current Period (Q3 2024) | YoY Change (Q3) | Year-to-Date (YTD 2024) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 112,640,515.77 | 3.35% | 234,521,392.83 | -2.55% | | Net Profit Attributable to Shareholders (RMB) | -810,399.21 | 97.51% | -34,570,900.48 | 71.17% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains/Losses (RMB) | -21,178,263.83 | 40.59% | -55,421,380.08 | 29.59% | | Net Cash Flow from Operating Activities (RMB) | -- | -- | -28,608,644.27 | 69.24% | | Basic Earnings Per Share (RMB/share) | -0.0005 | 97.60% | -0.0221 | 71.04% | | Diluted Earnings Per Share (RMB/share) | -0.0005 | 97.60% | -0.0221 | 71.04% | | Weighted Average Return on Net Assets | -0.14% | 4.57% | -5.79% | 10.16% | | Balance Sheet (Period-End) | Current Period-End | Prior Year-End | Change from Prior Year-End | | | Total Assets (RMB) | 1,445,686,944.27 | 1,508,188,652.40 | -4.14% | | | Shareholders' Equity Attributable to Shareholders (RMB) | 585,911,068.43 | 614,454,198.69 | -4.65% | | Non-Recurring Gains and Losses Items and Amounts Year-to-date non-recurring gains and losses totaled RMB 20,850,479.60, primarily driven by RMB 19,821,804.49 in performance compensation income from Dongwang Smart recognized under other non-operating income and expenses Non-Recurring Gains and Losses | Item | Current Period Amount (RMB) | Year-to-Date Amount (RMB) | Explanation | | :--- | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -63,879.76 | -53,472.71 | | | Government Subsidies Included in Current Period P&L | 1,316,456.26 | 3,420,145.71 | | | Gains/Losses from Debt Restructuring | 2,924.45 | -403,969.99 | | | Other Non-Operating Income and Expenses Apart from the Above | 19,844,306.61 | 19,749,609.22 | Performance compensation income from Dongwang Smart of RMB 19,821,804.49 recognized in this period | | Less: Income Tax Impact | 176,018.50 | 441,313.45 | | | Minority Interest Impact (After Tax) | 555,924.44 | 1,420,519.18 | | | Total | 20,367,864.62 | 20,850,479.60 | N/A | - Performance compensation income from Dongwang Smart of RMB 19,821,804.49 was recognized in this period, constituting the main component of other non-operating income and expenses[3] Changes and Reasons for Key Accounting Data and Financial Indicators Several financial indicators experienced significant changes, including an 82.91% decrease in notes receivable due to maturity, a 43.79% increase in other receivables from performance compensation, and a 141.13% increase in investment income driven by the elimination of prior debt restructuring losses and current performance compensation recognition Changes in Key Accounting Data and Financial Indicators | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Notes Receivable | -82.91% | Primarily due to notes receivable at the beginning of the period meeting derecognition conditions in the current period, leading to a reduction in notes | | Other Receivables | 43.79% | Primarily due to the recognition of performance compensation income from Dongwang Smart of RMB 19.82 million in the current period | | Intangible Assets | 84.79% | Primarily due to the capitalization of R&D projects forming intangible assets of RMB 34.84 million in the current period | | Development Expenditures | -90.12% | Primarily due to the completion of the company's independent R&D projects in the current period, transferring from development expenditures to intangible assets of RMB 34.84 million | | Short-term Borrowings | 145.78% | Primarily due to an increase in short-term financing in the current period | | Other Current Liabilities | -79.41% | Primarily due to notes receivable maturing in the current period and being reclassified, leading to a reduction in other current liabilities | | R&D Expenses | 39.30% | Primarily due to increased R&D investment to enhance the company's R&D capabilities, including introducing R&D technical personnel, improving product optimization, and increasing new product R&D | | Investment Income | 141.13% | Primarily due to a loss of RMB 43 million related to debt restructuring and asset package delivery in the prior period, and the recognition of performance compensation income from Dongwang Smart of RMB 19.82 million in the current period | | Net Cash Flow from Operating Activities | 69.24% | Primarily due to the impact of asset package disposal in the prior period and controlled cash operating cost expenditures in the current period | | Net Cash Flow from Investing Activities | 71.85% | Primarily due to higher payments for Hangzhou Smart Industrial Park construction in the prior period | Shareholder Information 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 31,602 common shareholders; among the top ten, Yibin Xuzhou Chuanyi Industrial Investment Co., Ltd. and Shenzhen Hi-Tech Investment Group Co., Ltd. held 15.12% and 14.35% respectively, with the former's shares being restricted and partially pledged - The total number of common shareholders at the end of the reporting period was 31,602[7] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Share Status | Number of Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yibin Xuzhou Chuanyi Industrial Investment Co., Ltd. | State-owned Legal Person | 15.12% | 236,628,960 | 236,628,960 | Pledged | 118,314,480 | | Shenzhen Hi-Tech Investment Group Co., Ltd. | State-owned Legal Person | 14.35% | 224,616,354 | 0 | N/A | 0 | | Yu Ling | Domestic Natural Person | 6.56% | 102,721,126 | 0 | Pledged | 102,721,126 | | Sichuan Development Securities Investment Fund Management Co., Ltd. - Sichuan Capital Market Relief and Development Investment Fund Partnership (Limited Partnership) | Other | 4.15% | 65,000,000 | 0 | Frozen | 102,721,126 | Changes in Restricted Shares During the reporting period, the total number of restricted shares remained unchanged at 240,529,001 shares, with Yibin Xuzhou Chuanyi Industrial Investment Co., Ltd. holding 236,628,960 shares expected to be unrestricted by December 20, 2025, and several executives holding lock-up shares Restricted Shares Movement | Shareholder Name | Restricted Shares at Period Start (shares) | Shares Unrestricted in Current Period (shares) | Shares Added to Restriction in Current Period (shares) | Restricted Shares at Period End (shares) | Reason for Restriction | Proposed Unrestriction Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yibin Xuzhou Chuanyi Industrial Investment Co., Ltd. | 236,628,960 | 0 | 0 | 236,628,960 | Restricted shares after initial public offering | 2025-12-20 | | Zhang Lei | 1,936,755 | 0 | 0 | 1,936,755 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Li Chunfu | 1,303,406 | 0 | 0 | 1,303,406 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Zhang Bin | 374,280 | 0 | 0 | 374,280 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Li Shiqiang | 75,000 | 0 | 0 | 75,000 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Wang Bin | 117,600 | 0 | 0 | 117,600 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Wang Wenming | 75,000 | 0 | 0 | 75,000 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Wu Hongwei | 18,000 | 0 | 0 | 18,000 | Executive lock-up shares | 25% of total shares held at prior year-end can be listed and circulated annually during tenure | | Total | 240,529,001 | 0 | 0 | 240,529,001 | N/A | N/A | Other Important Matters The company declares no other important matters requiring disclosure in this reporting period - The company has no other important matters in this reporting period[10] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2024, total assets were RMB 1,445,686,944.27, a 4.14% decrease from the beginning of the year, with notable changes in receivables, intangible assets, and short-term borrowings, while total liabilities and shareholders' equity also saw slight reductions Consolidated Balance Sheet | Item | September 30, 2024 Period-End Balance (RMB) | December 31, 2023 Period-Start Balance (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 31,065,244.22 | 47,374,708.23 | | Notes Receivable | 7,629,849.20 | 44,655,307.28 | | Accounts Receivable | 231,313,448.81 | 259,621,388.70 | | Other Receivables | 33,107,393.40 | 23,024,512.63 | | Intangible Assets | 61,201,226.92 | 33,119,991.18 | | Development Expenditures | 3,295,592.62 | 33,366,911.07 | | Total Assets | 1,445,686,944.27 | 1,508,188,652.40 | | Short-term Borrowings | 97,776,216.99 | 39,781,475.16 | | Accounts Payable | 154,082,242.78 | 211,582,923.16 | | Total Liabilities | 797,587,356.04 | 832,569,868.55 | | Total Equity Attributable to Parent Company Shareholders | 585,911,068.43 | 614,454,198.69 | Consolidated Income Statement from Year-Start to Reporting Period End From January to September 2024, total operating revenue slightly decreased year-over-year, but net profit loss significantly narrowed by 71.17%, primarily due to a turnaround in investment income from a substantial loss to a gain, alongside effective control over operating costs Consolidated Income Statement | Item | Current Period Amount (YTD 2024) | Prior Period Amount (YTD 2023) | | :--- | :--- | :--- | | Total Operating Revenue | 234,521,392.83 | 240,646,003.60 | | Total Operating Costs | 300,341,546.28 | 329,698,559.96 | | Operating Costs | 173,733,089.76 | 185,749,470.85 | | Selling Expenses | 16,232,029.98 | 20,746,117.11 | | Administrative Expenses | 56,731,820.91 | 70,611,285.81 | | R&D Expenses | 29,020,487.14 | 20,833,494.08 | | Financial Expenses | 20,185,521.06 | 27,648,170.23 | | Investment Income | 18,172,696.47 | -44,188,413.82 | | Net Profit | -33,546,965.84 | -119,955,635.35 | | Net Profit Attributable to Parent Company Shareholders | -34,570,900.48 | -119,906,865.38 | | Basic Earnings Per Share | -0.0221 | -0.0763 | - Investment income significantly improved from -RMB 44,188,413.82 in the prior year to RMB 18,172,696.47 in the current period, which is the primary reason for the narrowed net profit loss[15] Consolidated Cash Flow Statement from Year-Start to Reporting Period End From January to September 2024, net cash flow from operating activities was -RMB 28,608,644.27, a 69.24% reduction in loss year-over-year, indicating significant relief in operating cash outflow pressure, while investing cash flow also improved and financing cash flow remained positive Consolidated Cash Flow Statement | Item | Current Period Amount (YTD 2024) | Prior Period Amount (YTD 2023) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -28,608,644.27 | -93,007,739.78 | | Net Cash Flow from Investing Activities | -24,240,868.68 | -86,099,008.31 | | Net Cash Flow from Financing Activities | 36,545,493.74 | 38,191,339.03 | | Net Increase in Cash and Cash Equivalents | -16,309,464.01 | -140,919,729.30 | | Cash and Cash Equivalents at Period End | 31,065,244.22 | 43,774,399.80 | - Net cash flow from operating activities saw a 69.24% reduction in loss year-over-year, indicating an improvement in the company's operating cash flow management[19] Adjustments to Financial Statement Items at the Beginning of the First Year of Application of New Accounting Standards from 2024 The company states that the situation regarding adjustments to financial statement items at the beginning of the first year of applying new accounting standards from 2024 is not applicable - The company has no situation regarding adjustments to financial statement items at the beginning of the first year of applying new accounting standards from 2024[19] Audit Report The company's third quarter report has not been audited - The company's third quarter report has not been audited[19]