好想你(002582) - 2024 Q3 - 季度财报

Report Overview Important Notice This report emphasizes that the Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content, and declare that the financial information is unaudited - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and assume individual and joint legal liabilities[2] - The company's responsible person, the person in charge of accounting work, and the head of the accounting department declare: they guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[2] - The third-quarter report is unaudited[2] Key Financial Data Key Accounting Data and Financial Indicators In Q3 2024, the company's operating revenue decreased by 7.44% YoY, net profit attributable to shareholders decreased by 8.28% YoY, and non-recurring net profit significantly dropped by 723.52% YoY; YTD, operating revenue increased by 7.90% YoY, but net profit attributable to shareholders and non-recurring net profit decreased by 48.66% and 15.63% YoY respectively, with net cash flow from operating activities down by 55.18% YoY, and total assets and equity attributable to shareholders both decreased compared to the end of the previous year Key Financial Indicators for Q3 2024 and Year-to-Date | Indicator | Current Period (Q3 2024) | YoY Change | YTD (2024) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 361,078,231.90 | -7.44% | 1,177,486,296.13 | 7.90% | | Net Profit Attributable to Shareholders (CNY) | -24,473,950.11 | -8.28% | -60,708,667.54 | -48.66% | | Net Profit Attributable to Shareholders (Excl. Non-recurring) (CNY) | -27,120,353.09 | -723.52% | -63,428,397.73 | -15.63% | | Net Cash Flow from Operating Activities (CNY) | — | — | 125,272,504.84 | -55.18% | | Basic EPS (CNY/share) | -0.0662 | -24.21% | -0.1488 | -57.63% | | Diluted EPS (CNY/share) | -0.0606 | -20.21% | -0.1358 | -49.23% | | Weighted Average ROE | -0.66% | -0.11% | -1.55% | -0.57% | | Period-end Indicators | End of Current Period | End of Previous Year | Change from Previous Year-end | | | Total Assets (CNY) | 4,791,692,386.27 | 5,621,588,574.71 | -14.76% | | | Total Equity Attributable to Shareholders (CNY) | 3,579,257,661.63 | 4,129,477,408.02 | -13.32% | | Non-recurring Gains and Losses Items and Amounts The company's YTD non-recurring gains and losses totaled CNY 2,719,730.19, primarily including gains/losses from entrusted investments, government grants, and disposal of non-current assets YTD Non-recurring Gains and Losses Items and Amounts | Item | YTD Amount (CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -3,821,366.52 | | Government Grants Recognized in Current P&L | 3,421,366.95 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets/Liabilities | -5,396,662.13 | | Gains/Losses from Entrusted Investments/Asset Management | 12,103,175.98 | | Other Non-operating Income and Expenses | -2,308,901.56 | | Total | 2,719,730.19 | Changes and Reasons for Key Accounting Data and Financial Indicators This section details the reasons for major changes in the balance sheet, income statement, and cash flow statement items; balance sheet items like other receivables, inventories, other current assets, and short-term borrowings decreased, while construction in progress and treasury stock significantly increased; income statement items saw significant growth in investment income, increased financial expenses, and worsening fair value change gains and asset impairment losses; cash flow statement items showed a substantial decrease in net cash flow from operating activities, a shift from negative to positive in net cash flow from investing activities, and a shift from positive to negative in net cash flow from financing activities Balance Sheet Item Changes - Other receivables decreased by 31.84%, primarily due to cash dividends received in the current period[6] - Inventories decreased by 41.47%, mainly due to inventory consumption and sales[6] - Construction in progress increased by 1452.34%, primarily due to new dormitory building, workshop renovation, and finished goods warehouse modification projects during the reporting period[6] - Short-term borrowings decreased by 46.68%, mainly due to repayment of bank loans[6] - Treasury stock increased by 169.22%, primarily due to share repurchases and unlocking of restricted shares in the current period[6] Income Statement Item Changes - Financial expenses increased by 30.51%, primarily due to an increase in loan size during the reporting period[7] - Investment income increased by 625.57%, primarily due to new investment income from "Snacks Are Busy" and a year-over-year increase in financial asset investment income during the reporting period[7] - Gains from fair value changes decreased by 151.28%, primarily due to a reduction in unrealized gains from wealth management products held during the reporting period[7] - Asset impairment losses decreased by 410.56% (indicating a larger loss), primarily due to inventory impairment provisions made during the reporting period[7] Cash Flow Statement Item Changes - Net cash flow from operating activities decreased by 55.18%, primarily due to increased inventory purchase payments during the reporting period[8] - Net cash flow from investing activities increased by 387.98%, primarily because the amount of wealth management products redeemed significantly exceeded the amount purchased during the reporting period[8] - Net cash flow from financing activities decreased by 1132.56%, primarily due to cash dividends, changes in borrowings, and share repurchases during the reporting period[8] Shareholder Information Total Number of Common Shareholders and Shareholding of Top Ten Shareholders As of the end of the reporting period, the company had 43,373 common shareholders; among the top ten, Shi Jubin held the highest stake at 28.53%, with some shares pledged; Hangzhou Hao Cheng Industrial Co., Ltd. and Shi Juling were also among the top ten; Shi Jubin, Shi Juling, and Chang Guojie are parties acting in concert; the company's special share repurchase account held 3.46% of shares - Total number of common shareholders at the end of the reporting period: 43,373 accounts[9] - Among the top ten shareholders, Shi Jubin held 28.53% (129,289,218 shares), of which 96,966,913 shares were restricted shares and 37,000,000 shares were pledged[9] - Shi Jubin is Shi Juling's elder brother, and Chang Guojie is the brother-in-law of Shi Jubin and Shi Juling; the three are parties acting in concert[11] - At the end of the reporting period, the company's special share repurchase account held 15,666,404 common shares, representing 3.46% of the total share capital[11] Total Number of Preferred Shareholders and Shareholding of Top Ten Preferred Shareholders The company has no preferred shareholders - The company has no preferred shareholders[12] Other Important Matters Share Repurchase Matters The company has completed its share repurchase plan, repurchasing a total of 15,666,404 shares, accounting for 3.46% of the total share capital, with a total amount of CNY 86,169,993.20, intended for future equity incentive or employee stock ownership plans - The company has completed its share repurchase plan, with the repurchase period from February 6, 2024, to July 25, 2024[12] - The cumulative number of repurchased shares is 15,666,404 shares, accounting for 3.46% of the company's total share capital[12] - The total transaction amount is CNY 86,169,993.20 (excluding transaction fees)[12] - The repurchased shares are intended for future equity incentive plans or employee stock ownership plans[12] Progress of Equity Incentive Matters The first restricted period for the company's 2023 Restricted Stock Incentive Plan has been met, allowing 3,532,477 restricted shares for 133 grantees to be listed and circulated on July 31, 2024; concurrently, the company repurchased and cancelled 984,000 restricted shares that were granted but not yet unlocked, involving resigned grantees and those who did not meet individual performance targets - The conditions for the first restricted period of the 2023 Restricted Stock Incentive Plan's initial grant have been met, allowing 133 grantees to apply for the unlocking and listing of 3,532,477 restricted shares[13][14] - The listing and circulation date for these unlocked shares is July 31, 2024[14] - The company repurchased and cancelled a total of 984,000 restricted shares that were granted but not yet unlocked, representing 0.22% of the company's total share capital[14] - The repurchase and cancellation involved resigned grantees and those who did not meet individual performance targets[14] Reduction of Registered Capital and Amendment to Articles of Association Due to the repurchase and cancellation of restricted shares, the company's registered capital will decrease by CNY 984,000, with a corresponding reduction in total shares, and the amendment to the Articles of Association has been approved by the Board of Directors and the General Meeting of Shareholders - The company will repurchase and cancel 984,000 restricted shares; upon completion of the cancellation, the company's registered capital will decrease from CNY 453,243,369 to CNY 452,259,369[15] - The company's total shares will decrease from 453,243,369 shares to 452,259,369 shares[15] - The related matters of registered capital reduction and amendment to the Articles of Association have been approved by the Board of Directors and the General Meeting of Shareholders[15] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2024, the company's total assets were CNY 4,791,692,386.27, a 14.76% decrease from the beginning of the period; both current and non-current assets decreased, with significant declines in inventories, other non-current financial assets, short-term borrowings, and contract liabilities, while construction in progress and treasury stock significantly increased Consolidated Balance Sheet Major Item Changes (September 30, 2024 vs December 31, 2023) | Item | Period-end Balance (CNY) | Beginning Balance (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 4,791,692,386.27 | 5,621,588,574.71 | -14.76% | | Total Current Assets | 1,949,585,757.30 | 2,412,739,087.09 | -19.20% | | Total Non-current Assets | 2,842,106,628.97 | 3,208,849,487.62 | -11.43% | | Inventories | 248,393,770.27 | 424,358,235.12 | -41.47% | | Other Non-current Financial Assets | 325,469,459.68 | 675,849,037.89 | -51.84% | | Construction in Progress | 61,683,740.59 | 3,973,597.19 | +1452.34% | | Short-term Borrowings | 80,055,555.00 | 150,137,499.00 | -46.68% | | Contract Liabilities | 57,044,718.76 | 132,694,773.95 | -57.01% | | Treasury Stock | 105,889,543.74 | 39,331,263.15 | +169.22% | Consolidated Income Statement (YTD) YTD, the company's total operating revenue increased by 7.90% to CNY 1,177,486,296.13; however, net profit was -CNY 61,649,384.67, and net profit attributable to parent company shareholders was -CNY 60,708,667.54, a 48.66% YoY decrease, mainly due to increased financial expenses, decreased fair value change gains, and increased asset impairment losses, despite a significant increase in investment income Consolidated Income Statement Major Items (YTD) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,177,486,296.13 | 1,091,232,763.46 | +7.90% | | Total Operating Costs | 1,259,255,534.95 | 1,159,792,182.11 | +8.58% | | Financial Expenses | -16,151,233.67 | -23,243,267.56 | +30.51% (Expenditure increase) | | Investment Income | 28,567,795.15 | -5,435,576.66 | +625.57% | | Gains from Fair Value Changes | -7,474,123.53 | 14,575,079.72 | -151.28% | | Asset Impairment Losses | -6,885,114.44 | 2,217,013.06 | -410.56% (Loss increase) | | Operating Profit | -59,660,504.23 | -42,107,484.15 | -41.69% (Loss widening) | | Net Profit | -61,649,384.67 | -43,668,031.71 | -41.17% (Loss widening) | | Net Profit Attributable to Parent Company Shareholders | -60,708,667.54 | -40,836,173.09 | -48.66% (Loss widening) | | Basic EPS | -0.1488 | -0.0944 | -57.63% | Consolidated Cash Flow Statement (YTD) YTD, net cash flow from operating activities was CNY 125,272,504.84, a 55.18% YoY decrease; net cash flow from investing activities turned positive to CNY 288,351,695.03 from a negative value in the prior period, mainly due to a significant increase in cash received from investment recovery; net cash flow from financing activities was -CNY 675,911,123.94, a 1132.56% YoY decrease, primarily affected by cash dividends, changes in borrowings, and share repurchases Consolidated Cash Flow Statement Major Items (YTD) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 125,272,504.84 | 279,489,160.63 | -55.18% | | Net Cash Flow from Investing Activities | 288,351,695.03 | -100,129,458.87 | +387.98% | | Net Cash Flow from Financing Activities | -675,911,123.94 | 65,459,862.84 | -1132.56% | | Net Increase in Cash and Cash Equivalents | -262,286,924.07 | 244,819,564.60 | -207.14% | | Period-end Cash and Cash Equivalents Balance | 126,055,802.81 | 537,523,064.23 | -76.53% | New Accounting Standards and Audit Status The company did not adjust initial financial statement items for new accounting standards starting in 2024, and this quarterly report is unaudited - The company did not adjust relevant items in the opening financial statements for the first year of adopting new accounting standards starting in 2024[23] - The company's third-quarter report is unaudited[23]