瑞联新材(688550) - 2024 Q3 - 季度财报

Report Overview Important Notice The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility; the company's head, chief accountant, and accounting department head guarantee the truthfulness, accuracy, and completeness of financial information; the financial statements for this reporting period are unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[2] - The company's head, chief accountant, and accounting department head guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[2] - The third-quarter financial statements are unaudited[2] Key Financial Data Key Accounting Data and Financial Indicators The company achieved significant financial growth in Q3 2024 and year-to-date, with substantial increases in operating revenue, net profit attributable to shareholders, earnings per share, and weighted average return on net assets Key Accounting Data and Financial Indicators (Year-to-Date) | Item | Change from prior year period (%) | Year-to-date (RMB) | Year-to-date change from prior year period (%) | |:---|:---|:---|:---|\ | Operating Revenue | 26.60 | 1,093,434,243.13 | 17.32 | | Net Profit Attributable to Shareholders of Listed Company | 126.27 | 185,303,402.44 | 88.97 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 145.64 | 173,899,196.28 | 100.08 | | Net Cash Flow from Operating Activities | Not applicable | 316,717,598.70 | 8.82 | | Basic Earnings Per Share (RMB/share) | 79.31 | 1.06 | 47.22 | | Diluted Earnings Per Share (RMB/share) | 79.31 | 1.06 | 47.22 | | Weighted Average Return on Net Assets (%) | Increased by 1.71 percentage points | 6.28 | Increased by 2.96 percentage points | | Total R&D Investment | 22.77 | 103,035,034.50 | 14.74 | | R&D Investment as % of Operating Revenue (%) | Decreased by 0.32 percentage points | 9.42 | Decreased by 0.22 percentage points | Key Accounting Data and Financial Indicators (Period-End) | Item | As of End of Reporting Period (RMB) | As of End of Prior Year (RMB) | Change from End of Prior Year (%) | |:---|:---|:---|:---|\ | Total Assets | 3,362,559,719.17 | 3,323,862,100.18 | 1.16 | | Total Equity Attributable to Shareholders of Listed Company | 2,956,678,231.57 | 2,940,613,181.00 | 0.55 | Non-recurring Gains and Losses Items and Amounts The company's non-recurring gains and losses totaled 3.48 million RMB for the reporting period and 11.40 million RMB year-to-date, primarily including government grants, fair value changes of financial assets, and disposal gains/losses of non-current assets Non-recurring Gains and Losses | Non-recurring Gains and Losses Item | Amount for Current Period (RMB) | Year-to-date Amount (RMB) | |:---|:---|:---|\ | Gains/Losses from Disposal of Non-current Assets | -139,259.94 | -899,991.73 | | Government Grants Recognized in Current Profit/Loss | 2,818,772.80 | 9,143,856.13 | | Fair Value Changes and Disposal Gains/Losses of Financial Assets and Liabilities Held by Non-financial Enterprises, Excluding Effective Hedge Accounting Related to Normal Business Operations | 1,500,125.38 | 5,394,950.75 | | Gains/Losses from Entrusted Loans | | 29,882.67 | | Other Non-operating Income and Expenses Apart from the Above | -54,768.90 | -98,479.26 | | Less: Income Tax Impact | 646,930.40 | 2,166,012.40 | | Total | 3,477,938.94 | 11,404,206.16 | Changes in Key Accounting Data, Financial Indicators and Reasons Net profit attributable to shareholders and net profit excluding non-recurring gains/losses significantly increased in the current period and year-to-date, driven by recovering consumer electronics demand, increased sales revenue, and improved gross margins from cost reduction and efficiency initiatives; basic and diluted EPS growth also stemmed from increased net profit - Net profit attributable to shareholders increased by 126.27% in the current period and 88.97% year-to-date, primarily due to the sustained recovery in downstream consumer electronics demand in the display materials industry, increased sales revenue in this segment, and improved gross margins from the company's continuous cost reduction and efficiency efforts[6] - Net profit attributable to shareholders excluding non-recurring gains and losses increased by 145.64% in the current period and 100.08% year-to-date, for the same reasons as the net profit growth[7] - Basic and diluted earnings per share significantly increased in both the current period and year-to-date, primarily due to the growth in net profit[7] Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 10,272 common shareholders; among the top ten, Hainan Zhuoshi Hengli Venture Capital Partnership (Limited Partnership) and Ningbo Guofu Yongyu Venture Capital Partnership (Limited Partnership) were major institutional shareholders, with Liu Xiaochun as the largest individual shareholder; the company is unaware of any associated relationships or concerted actions among these shareholders - The total number of common shareholders at the end of the reporting period was 10,272[8] Top Ten Common Shareholders | Shareholder Name | Nature | Number of Shares Held | Proportion (%) | Number of Unrestricted Shares Held | |:---|:---|:---|:---|:---|\ | Hainan Zhuoshi Hengli Venture Capital Partnership (Limited Partnership) | Other | 34,900,689 | 19.97 | 34,900,689 | | Ningbo Guofu Yongyu Venture Capital Partnership (Limited Partnership) | Other | 20,249,216 | 11.59 | 20,249,216 | | Liu Xiaochun | Overseas Natural Person | 11,665,216 | 6.68 | 11,665,216 | | Hang Hua | Domestic Natural Person | 4,197,003 | 2.40 | 4,197,003 | | Wang Zizhong | Domestic Natural Person | 3,185,536 | 1.82 | 3,185,536 | | Chen Qian | Domestic Natural Person | 2,869,497 | 1.64 | 2,869,497 | | Zhejiang Puyongze Equity Investment Partnership (Limited Partnership) | Other | 2,415,549 | 1.38 | 2,415,549 | | Xi'an Rylink New Materials Co., Ltd. Repurchase Special Account | Domestic Non-state-owned Legal Person | 1,778,059 | 1.02 | 1,778,059 | | Invesco Great Wall Fund - China Life Insurance Co., Ltd. - Participating Insurance - Invesco Great Wall Fund China Life Shares Growth Stock Portfolio Single Asset Management Plan (Available for Sale) | Other | 1,648,592 | 0.94 | 1,648,592 | | Ningbo Kejiu Equity Investment Partnership (Limited Partnership) | Other | 1,537,152 | 0.88 | 1,537,152 | - The company is unaware of any associated relationships or concerted actions among the aforementioned shareholders[10] Other Reminders Other Important Information Regarding the Company's Operating Performance During the Reporting Period Requiring Investor Attention There is no other significant operating information during the reporting period that requires special attention from investors - No other important information regarding the company's operating performance during the reporting period requires investor attention[12] Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[12] Financial Statements This section presents the company's consolidated balance sheet as of September 30, 2024, and the consolidated income statement and consolidated cash flow statement for January-September 2024, comprehensively illustrating the company's financial position, operating results, and cash flows Consolidated Balance Sheet | Item | As of September 30, 2024 (RMB) | As of December 31, 2023 (RMB) | |:---|:---|:---|\ | Cash and Cash Equivalents | 902,604,193.39 | 629,456,556.59 | | Financial Assets Held for Trading | 150,173,446.37 | 386,027,955.02 | | Accounts Receivable | 279,447,218.51 | 211,204,150.35 | | Inventories | 461,441,747.01 | 499,972,569.23 | | Total Current Assets | 1,889,745,166.03 | 1,853,189,356.53 | | Fixed Assets | 1,065,075,975.14 | 1,077,685,836.49 | | Intangible Assets | 83,658,238.33 | 39,769,096.83 | | Total Assets | 3,362,559,719.17 | 3,323,862,100.18 | | Short-term Borrowings | 20,047,152.31 | 10,011,152.31 | | Notes Payable | 83,000,000.00 | 63,000,000.00 | | Accounts Payable | 170,198,754.07 | 185,602,627.69 | | Total Current Liabilities | 365,371,262.62 | 361,227,236.41 | | Total Liabilities | 405,881,487.60 | 383,248,919.18 | | Paid-in Capital (or Share Capital) | 174,731,320.00 | 137,824,131.00 | | Total Equity Attributable to Parent Company Shareholders | 2,956,678,231.57 | 2,940,613,181.00 | | Total Liabilities and Equity | 3,362,559,719.17 | 3,323,862,100.18 | Consolidated Income Statement | Item | Q1-Q3 2024 (Jan-Sep) (RMB) | Q1-Q3 2023 (Jan-Sep) (RMB) | |:---|:---|:---|\ | Total Operating Revenue | 1,093,434,243.13 | 931,979,254.99 | | Total Operating Costs | 873,358,217.18 | 821,393,828.44 | | Operating Profit | 213,500,757.41 | 109,142,143.05 | | Total Profit | 212,580,286.42 | 108,159,695.20 | | Net Profit | 185,303,402.44 | 98,057,100.76 | | Net Profit Attributable to Parent Company Shareholders | 185,303,402.44 | 98,057,100.76 | | Total Comprehensive Income | 185,298,819.49 | 104,983,550.69 | | Basic Earnings Per Share (RMB/share) | 1.06 | 0.72 | | Diluted Earnings Per Share (RMB/share) | 1.06 | 0.72 | Consolidated Cash Flow Statement | Item | Q1-Q3 2024 (Jan-Sep) (RMB) | Q1-Q3 2023 (Jan-Sep) (RMB) | |:---|:---|:---|\ | Net Cash Flow from Operating Activities | 316,717,598.70 | 291,058,152.68 | | Net Cash Flow from Investing Activities | 45,932,456.22 | -267,593,826.73 | | Net Cash Flow from Financing Activities | -172,246,374.87 | -124,234,575.29 | | Net Increase in Cash and Cash Equivalents | 190,463,758.31 | -101,217,168.79 | | Cash and Cash Equivalents at End of Period | 521,405,156.24 | 383,742,394.20 | Appendix Implementation of New Accounting Standards The company did not adjust the financial statements at the beginning of the first year of implementation when first adopting new accounting standards or interpretations starting in 2024 - First-time adoption of new accounting standards or interpretations starting in 2024, involving adjustments to the financial statements at the beginning of the first year of implementation: Not applicable[23]