郑中设计(002811) - 2024 Q3 - 季度财报

Report Overview This section provides a high-level summary of the report's key assurances and audit status Important Disclosures This chapter emphasizes the board and management's assurance of the quarterly report's integrity and confirms it is unaudited - The Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions[2] - The company's head, chief accountant, and head of the accounting department declare that the financial information in the quarterly report is true, accurate, and complete[2] - The third-quarter report is unaudited[2] I. Key Financial Data This section presents key accounting data, financial indicators, non-recurring items, and reasons for significant financial changes 1. Key Accounting Data and Financial Indicators Q3 and YTD financial performance significantly improved, with substantial growth in net profit attributable to shareholders and basic EPS | Indicator | Current Reporting Period (RMB) | Change from Prior Year Period | Year-to-Date (RMB) | Change from Prior Year Period | | :------------------------------------------------ | :------------------- | :---------------------------- | :------------------- | :---------------------------- | | Operating Revenue | 309,255,461.77 | 0.78% | 825,281,945.52 | -0.81% | | Net Profit Attributable to Shareholders of the Listed Company | 30,478,168.08 | 340.60% | 94,993,572.28 | 516.86% | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-Recurring Gains and Losses | 26,901,118.09 | 561.55% | 76,664,567.58 | 839.89% | | Net Cash Flow from Operating Activities | — | — | 155,044,921.30 | -20.97% | | Basic EPS (RMB/share) | 0.12 | 300.00% | 0.36 | 500.00% | | Diluted EPS (RMB/share) | 0.12 | 300.00% | 0.36 | 500.00% | | Weighted Average Return on Net Assets | 2.67% | 2.11% | 8.24% | 6.98% | | Total Assets (RMB) | 2,489,785,077.96 | -4.25% (End of Current Period vs. End of Prior Year) | 2,600,212,281.28 (End of Prior Year) | | | Total Equity Attributable to Shareholders of the Listed Company (RMB) | 1,103,025,276.80 | -5.38% (End of Current Period vs. End of Prior Year) | 1,165,797,011.92 (End of Prior Year) | | - Net profit attributable to shareholders of the listed company increased by 340.60% in Q3 and 516.86% year-to-date[2] - Basic EPS and diluted EPS both increased by 300.00% in Q3 and 500.00% year-to-date[2] 2. Non-Recurring Gains and Losses and Amounts Non-recurring gains and losses primarily from fair value changes in financial assets and reversal of impairment provisions for receivables, positively impacting net profit | Item | Amount for Current Reporting Period (RMB) | Amount Year-to-Date (RMB) | Explanation | | 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The company's financial performance for Q3 and YTD significantly improved, with substantial growth in net profit attributable to shareholders and basic EPS. Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (RMB) | Change from Prior Year Period | Year-to-Date (RMB) | Change from Prior Year Period | | :------------------------------------------------ | :------------------- | :---------------------------- | :------------------- | :---------------------------- | | Operating Revenue | 309,255,461.77 | 0.78% | 825,281,945.52 | -0.81% | | Net Profit Attributable to Shareholders of the Listed Company | 30,478,168.08 | 340.60% | 94,993,572.28 | 516.86% | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-Recurring Gains and Losses | 26,901,118.09 | 561.55% | 76,664,567.58 | 839.89% | | Net Cash Flow from Operating Activities | — | — | 155,044,921.30 | -20.97% | | Basic EPS (RMB/share) | 0.12 | 300.00% | 0.36 | 500.00% | | Diluted EPS (R.MB/share) | 0.12 | 300.00% | 0.36 | 500.00% | | Weighted Average Return on Net Assets | 2.67% | 2.11% | 8.24% | 6.98% | | Total Assets (RMB) | 2,489,785,077.96 | -4.25% (End of Current Period vs. End of Prior Year) | 2,600,212,281.28 (End of Prior Year) | | | Total Equity Attributable to Shareholders of the Listed Company (RMB) | 1,103,025,276.80 | -5.38% (End of Current Period vs. End of Prior Year) | 1,165,797,011.92 (End of Prior Year) | | - Net profit attributable to shareholders of the listed company increased by 340.60% in Q3 and 516.86% year-to-date[2] - Basic EPS and diluted EPS both increased by 300.00% in Q3 and 500.00% year-to-date[2] 2. Non-Recurring Gains and Losses and Amounts Non-recurring gains and losses primarily from fair value changes in financial assets and reversal of impairment provisions for receivables, positively impacting net profit | Item | Amount for Current Reporting Period (RMB) | Amount Year-to-Date (RMB) | Explanation | | :---------------------------------------------------------------------------------------------------------------------------------------------- | :-------------------------------- | :------------------------ | :------------------------------------------ | | Disposal gains/losses on non-current assets | -237,875.92 | -242,610.07 | | | Government grants recognized in current profit/loss | 135,383.86 | 541,884.88 | | | Gains and losses from changes in fair value of financial assets and liabilities, and disposal of financial assets and liabilities (excluding effective hedging related to normal business operations) | 4,306,553.99 | 12,600,744.90 | Due to wealth management in current period | | Reversal of impairment provisions for receivables subject to separate impairment testing | | 7,420,570.03 | Due to recovery of project payments in current period | | Other non-operating income and expenses apart from the above | 5,575.12 | 795,706.25 | | | Less: Income tax impact | 632,587.06 | 3,231,225.48 | | | Total | 3,577,049.99 | 18,329,004.70 | -- | - Total non-recurring gains and losses for the current reporting period amounted to RMB 3,577,049.99, and RMB 18,329,004.70 year-to-date[4] - Year-to-date, gains and losses from changes in fair value of financial assets and disposal of financial assets due to wealth management amounted to RMB 12,600,744.90[3] - Year-to-date, the reversal of impairment provisions for receivables subject to separate impairment testing due to recovery of project payments was RMB 7,420,570.03[3] 3. Changes and Reasons for Key Accounting Data and Financial Indicators This chapter details changes and reasons for major balance sheet, income statement, and cash flow items, reflecting business adjustments, investment strategies, and financing 3.1 Changes in Balance Sheet Items Balance sheet items show changes in receivables, inventories, and non-current liabilities due within one year, reflecting business operations and convertible bond maturity | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | Change Percentage | Primary Reason for Change | | :-------------------------------- | :------------------- | :-------------------- | :---------------- | :---------------------------------------------------- | | Notes Receivable | 0.00 | 1,967,306.49 | -100.00% | Primarily due to notes maturing and being honored | | Financing for Receivables | 7,174,361.98 | 3,627,868.30 | 97.76% | Primarily due to increased amounts factored but not yet collected in the current period | | Prepayments | 36,627,354.55 | 26,308,558.75 | 39.22% | Primarily due to prepayments for large projects and new soft furnishing projects | | Inventories | 101,831,338.75 | 63,177,817.46 | 61.18% | Primarily due to growth in new soft furnishing projects started in the current period | | Contract Assets | 284,855,291.42 | 420,473,344.81 | N/A | Primarily due to the company actively scaling back engineering business, leading to a decrease in business volume | | Other Non-Current Assets | 9,118,873.29 | 13,444,371.00 | -32.17% | Primarily due to property offsetting payments to suppliers for engineering projects | | Advances from Customers | 1,872,218.96 | 1,279,912.75 | 46.28% | Primarily due to increased advance receipts for property rentals | | Employee Benefits Payable | 42,039,194.89 | 93,137,377.64 | -54.86% | Primarily due to payment of 2023 year-end bonuses in the current period | | Non-Current Liabilities Due Within One Year | 485,032,534.84 | 19,362,866.60 | 2404.96% | Primarily due to the company's convertible bonds maturing in 2025 | | Bonds Payable | 0.00 | 443,635,328.69 | -100.00% | Primarily due to the company's convertible bonds maturing in 2025 | | Provisions | 5,987,194.88 | 8,757,334.26 | -31.63% | Primarily due to reversal of previously accrued amounts in the current period | - Notes receivable decreased by 100%, primarily due to notes maturing and being honored[5] - Non-current liabilities due within one year significantly increased by 2404.96%, primarily due to the company's convertible bonds maturing in 2025[5] - Bonds payable decreased by 100%, also due to convertible bonds nearing maturity[5] 3.2 Changes in Income Statement Items Income statement items show changes in selling expenses, investment income, impairment losses, and non-operating income, reflecting marketing, wealth management, and litigation | Item | Jan-Sept 2024 (RMB) | Jan-Sept 2023 (RMB) | Change Percentage | Primary Reason for Change | | :------------------------ | :------------------- | :------------------- | :---------------- | :---------------------------------------------------- | | Selling Expenses | 24,588,850.84 | 17,990,473.73 | 36.68% | Primarily due to increased marketing efforts in the current period | | Other Income | 985,819.07 | 1,518,009.48 | -35.06% | Primarily due to decreased government grants received in the current period | | Investment Income | 12,288,398.88 | 8,007,344.94 | 53.46% | Primarily due to higher wealth management income in the current period compared to the prior year | | Credit Impairment Losses | -43,185,853.39 | -2,984,171.04 | N/A | Primarily due to increased provision for doubtful accounts compared to the prior year | | Asset Impairment Losses | 55,037,549.48 | -39,627,600.30 | N/A | Primarily due to reversal of contract assets in the current period | | Non-Operating Income | 1,032,923.55 | 78,342.21 | 1218.48% | Primarily due to increased collections from litigation judgments in the current period | | Income Tax Expense | 22,945,427.44 | 10,717,137.14 | 114.10% | Primarily due to increased operating profit in the current period compared to the prior year | - Selling expenses increased by 36.68%, primarily due to increased marketing efforts in the current period[6] - Investment income increased by 53.46%, primarily due to higher wealth management income in the current period[6] - Non-operating income significantly increased by 1218.48%, primarily due to increased collections from litigation judgments[6] 3.3 Changes in Cash Flow Statement Items Cash flow statement changes reflect significant shifts in net cash flow from investing and financing activities, driven by wealth management and share repurchases | Item | Jan-Sept 2024 (RMB) | Jan-Sept 2023 (RMB) | Change Percentage | Primary Reason for Change | | :-------------------------------- | :------------------- | :------------------- | :---------------- | :---------------------------------------------------- | | Net Cash Flow from Investing Activities | -133,633,669.09 | -94,386,073.35 | N/A | Primarily due to increased wealth management investments in the current period | | Net Cash Flow from Financing Activities | -180,178,795.13 | -22,985,074.43 | N/A | Primarily due to share repurchases in the current period | - Net cash flow from investing activities showed increased outflow, primarily due to higher wealth management investments in the current period[7] - Net cash flow from financing activities showed a significant increase in outflow, primarily due to share repurchases in the current period[7] II. Shareholder Information This section details the total common shareholders, top ten shareholdings, and preferred shareholder information 1. Total Number of Common Shareholders and Shareholding of Top Ten Shareholders As of the reporting period end, the company had 11,857 common shareholders, with Shenzhen Yatai Yizhao Investment Co., Ltd. as the largest at 52.18%, and related party and share repurchase account details are provided - The total number of common shareholders at the end of the reporting period was 11,857[8] | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares with Restricted Sales Conditions | Share Status | Quantity | | 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