麒盛科技(603610) - 2024 Q3 - 季度财报

Report Overview Important Notice The company's board, supervisory board, senior management, and key financial officers collectively guarantee the truthfulness, accuracy, and completeness of this quarterly report - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility[2] - The company's principal officer, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information[2] Audit Status The company's third-quarter 2024 financial statements are unaudited - The third-quarter financial statements are unaudited[2] Key Financial Data and Indicators Key Accounting Data and Financial Indicators Operating revenue decreased by 11.50% in the current period, with net profit attributable to shareholders up 1.83% but down 58.51% excluding non-recurring items, while year-to-date operating cash flow grew 63.41% Key Accounting Data and Financial Indicators (Current Reporting Period) | Item | Amount for Current Reporting Period (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 763,667,296.06 | -11.50% | | Net Profit Attributable to Shareholders of the Listed Company | 66,043,664.66 | 1.83% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses | 48,093,819.23 | -58.51% | | Basic Earnings Per Share (Yuan/share) | 0.19 | 3.94% | | Diluted Earnings Per Share (Yuan/share) | 0.19 | 3.94% | | Weighted Average Return on Net Assets (%) | 2.18% | Increased by 0.17 percentage points | Key Accounting Data and Financial Indicators (Year-to-Date) | Item | Amount Year-to-Date (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 2,222,028,743.66 | -6.87% | | Net Profit Attributable to Shareholders of the Listed Company | 151,134,047.47 | -19.02% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses | 169,429,822.87 | -22.24% | | Net Cash Flow from Operating Activities | 222,868,203.34 | 63.41% | | Basic Earnings Per Share (Yuan/share) | 0.43 | -19.22% | | Diluted Earnings Per Share (Yuan/share) | 0.43 | -19.22% | | Weighted Average Return on Net Assets (%) | 4.74% | Decreased by 1.16 percentage points | Balance Sheet Indicators (End of Current Reporting Period) | Item | Amount at End of Current Reporting Period (Yuan) | Amount at End of Previous Year (Yuan) | Change from End of Previous Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,660,552,221.86 | 4,936,711,014.68 | -5.59% | | Owners' Equity Attributable to Shareholders of the Listed Company | 3,059,060,377.93 | 3,272,989,453.95 | -6.54% | Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 17.95 million Yuan for the current period and -18.30 million Yuan year-to-date, primarily from government subsidies, fair value changes, and other non-operating items Non-recurring Gains and Losses Items and Amounts | Non-recurring Gain/Loss Item | Amount for Current Period (Yuan) | Amount Year-to-Date (Yuan) | | :--- | :--- | :--- | | Disposal Gains and Losses of Non-current Assets | -91,316.51 | 7,131,623.30 | | Government Subsidies Recognized in Current Profit or Loss | 3,676,271.45 | 18,161,469.76 | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets | 15,189,172.00 | -4,056,305.68 | | Other Non-operating Income and Expenses | 143,523.47 | 2,416,529.18 | | Other Gains and Losses Meeting the Definition of Non-recurring | -97,384.90 | -39,051,567.20 | | Less: Income Tax Impact | 870,419.97 | 2,897,524.47 | | Impact on Minority Shareholders' Equity (After Tax) | 0.10 | 0.29 | | Total | 17,949,845.43 | -18,295,775.40 | Changes and Reasons for Key Accounting Data and Financial Indicators Cash decreased by nearly 40% due to equity distribution and project costs, while accounts receivable grew 79.12% from sales, and increased investments in construction and intangible assets drove growth, with year-to-date operating cash flow up 63.41% Changes and Reasons for Key Accounting Data and Financial Indicators | Item Name | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents_End of Current Reporting Period | -39.61 | Payment of 2023 equity distribution, smart electric bed headquarters project, and Vietnam Binh Phuoc factory construction costs | | Trading Financial Assets_End of Current Reporting Period | 43.76 | Increased purchase of bank wealth management products | | Accounts Receivable_End of Current Reporting Period | 79.12 | Some customers paid according to credit terms and increased sales orders within credit terms | | Construction in Progress_End of Current Reporting Period | 68.64 | Increased investment in the 4 million smart electric bed headquarters project and Vietnam Binh Phuoc factory construction | | Intangible Assets_End of Current Reporting Period | 78.09 | Land purchase and transfer of initial land payment to intangible assets | | Financial Expenses_Year-to-Date | -38.67 | Decreased exchange gains, decreased interest income | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses_Current Reporting Period | -58.51 | Sales below expectations | | Net Cash Flow from Operating Activities_Year-to-Date | 63.41 | Optimized marketing expense investment, increased deposit income for the 4 million smart bed headquarters project Phase III | | Net Cash Flow from Investing Activities_Year-to-Date | Not Applicable | Increased land purchase expenditures; increased investment in the company's 4 million smart electric bed headquarters project construction, increased investment in Vietnam Binh Phuoc factory construction | | Net Cash Flow from Financing Activities_Year-to-Date | Not Applicable | 2023 equity distribution and decreased bank borrowings | Shareholder Information Total Number of Common Shareholders and Shareholding of Top Ten Shareholders The company had 20,184 common shareholders, with Jiaxing Zhihai Investment Management Co., Ltd. as the largest at 23.33%, and some major shareholders having pledged shares, while repurchased shares are for the 2022 stock option plan - The total number of common shareholders at the end of the reporting period was 20,184[8] Shareholding of Top Ten Shareholders | Shareholder Name | Shareholder Nature | Number of Shares Held (Shares) | Shareholding Ratio (%) | Share Status | Number (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Jiaxing Zhihai Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 83,629,325 | 23.33 | None | 0 | | Tang Guohai | Domestic Natural Person | 61,811,713 | 17.24 | Pledged | 14,000,000 | | Xu Jianchun | Domestic Natural Person | 34,407,493 | 9.60 | Pledged | 16,750,000 | | Huang Xiaowei | Domestic Natural Person | 25,154,500 | 7.02 | None | 0 | | Fu Wei | Domestic Natural Person | 4,841,852 | 1.35 | Pledged | 2,900,000 | | Wu Tao | Domestic Natural Person | 3,242,302 | 0.90 | None | 0 | | Tang Ying | Domestic Natural Person | 3,211,365 | 0.90 | None | 0 | | Hong Kong Securities Clearing Company Limited | Other | 2,954,915 | 0.82 | None | 0 | | Shenzhen Share Growth Investment Management Co., Ltd. - Ningbo Meishan Bonded Port Area Share Xinkongjian Venture Capital Partnership (Limited Partnership) | Other | 2,872,460 | 0.80 | None | 0 | | Zhang Jian | Domestic Natural Person | 2,070,000 | 0.58 | None | 0 | - Tang Guohai and Tang Ying are acting in concert[9] - The company's dedicated share repurchase account holds 5,497,630 common shares, primarily for implementing the 2022 stock option incentive plan[9] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2024, total assets were 4.66 billion Yuan, down 5.59% from year-end, with current assets at 2.45 billion Yuan and non-current assets at 2.21 billion Yuan, while liabilities totaled 1.60 billion Yuan and owners' equity 3.06 billion Yuan Consolidated Balance Sheet Key Items (September 30, 2024 vs December 31, 2023) | Item | September 30, 2024 (Yuan) | December 31, 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 938,141,364.65 | 1,553,353,505.55 | -39.61% | | Trading Financial Assets | 121,346,895.27 | 84,407,601.08 | 43.76% | | Accounts Receivable | 567,892,820.18 | 317,037,783.51 | 79.12% | | Inventories | 710,527,302.54 | 781,517,372.96 | -9.08% | | Long-term Equity Investments | 127,794,799.02 | 177,720,389.92 | -28.09% | | Fixed Assets | 747,438,806.04 | 802,551,622.63 | -6.99% | | Construction in Progress | 527,479,151.90 | 312,777,466.62 | 68.64% | | Intangible Assets | 229,267,156.14 | 128,733,759.99 | 78.09% | | Total Assets | 4,660,552,221.86 | 4,936,711,014.68 | -5.59% | | Short-term Borrowings | 296,486,029.65 | 400,351,388.90 | -25.94% | | Accounts Payable | 319,525,202.22 | 281,433,948.25 | 13.54% | | Total Liabilities | 1,598,380,078.10 | 1,659,856,281.46 | -3.70% | | Total Owners' Equity Attributable to Parent Company | 3,059,060,377.93 | 3,272,989,453.95 | -6.54% | Consolidated Income Statement Year-to-date 2024, total operating revenue decreased 6.87% to 2.22 billion Yuan, with net profit attributable to parent company shareholders down 19.02% to 151 million Yuan, while financial expenses decreased and other income increased Consolidated Income Statement Key Items (First Three Quarters of 2024 vs First Three Quarters of 2023) | Item | First Three Quarters of 2024 (Yuan) | First Three Quarters of 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,222,028,743.66 | 2,385,936,250.89 | -6.87% | | Operating Costs | 1,476,070,178.52 | 1,548,779,294.66 | -4.70% | | Selling Expenses | 217,663,752.29 | 283,990,772.83 | -23.28% | | Administrative Expenses | 210,766,411.03 | 221,190,233.33 | -4.71% | | Research and Development Expenses | 113,106,762.29 | 115,121,284.04 | -1.75% | | Financial Expenses | -29,727,564.09 | -48,474,054.80 | -38.67% | | Other Income | 20,300,584.51 | 9,131,109.84 | 122.32% | | Investment Income | -49,672,992.88 | -50,400,167.38 | 1.44% | | Fair Value Change Gains | -4,330,024.02 | 8,780,632.08 | -149.31% | | Asset Disposal Gains | 7,151,146.97 | -1,023,885.94 | 798.94% | | Operating Profit | 179,061,703.58 | 210,147,489.62 | -14.79% | | Net Profit | 150,380,534.03 | 185,311,739.99 | -18.85% | | Net Profit Attributable to Parent Company Shareholders | 151,134,047.47 | 186,620,056.78 | -19.02% | | Basic Earnings Per Share (Yuan/share) | 0.43 | 0.53 | -18.87% | Consolidated Cash Flow Statement Year-to-date 2024, net operating cash flow increased 63.41% to 223 million Yuan, while net investing cash flow was -319 million Yuan due to asset acquisitions, and net financing cash flow was -496 million Yuan from debt and dividends Consolidated Cash Flow Statement Key Items (First Three Quarters of 2024 vs First Three Quarters of 2023) | Item | First Three Quarters of 2024 (Yuan) | First Three Quarters of 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 222,868,203.34 | 136,389,998.63 | 63.41% | | Net Cash Flow from Investing Activities | -319,103,651.50 | -252,850,511.40 | -26.28% | | Net Cash Flow from Financing Activities | -496,039,927.19 | 27,633,991.69 | -1894.89% | | Net Increase in Cash and Cash Equivalents | -592,074,637.17 | -63,877,201.77 | -826.80% | | Cash and Cash Equivalents at End of Period | 951,312,868.07 | 1,533,105,839.76 | -37.94% | - Significantly increased cash payments for the acquisition of fixed assets, intangible assets, and other long-term assets were the primary reason for the increase in cash outflow from investing activities[19] - Cash payments for debt repayment and for distribution of dividends, profits, or interest were the primary reasons for the increase in cash outflow from financing activities[19] Other Reminders Other Reminders The company has no other significant operating information requiring special attention from investors during the reporting period - The company has no other significant operating information requiring special attention from investors during the reporting period[11]