斯莱克(300382) - 2024 Q3 - 季度财报

Main Financial Data This section presents the company's key financial performance indicators and balance sheet items, detailing significant changes and their underlying causes Key Accounting Data and Financial Indicators The company experienced declines in Q3 and YTD operating revenue and net profit, with net profit attributable to shareholders significantly decreasing and operating cash flow deteriorating, while total assets grew but equity attributable to shareholders decreased Key Financial Indicators for Q3 2024 and Year-to-Date | Indicator | Current Period (Q3 2024) | YoY Change (Q3) | Year-to-Date (YTD Q3 2024) | YoY Change (YTD Q3) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 411,876,906.25 | -3.51% | 1,080,668,073.11 | -4.52% | | Net Profit Attributable to Shareholders of the Listed Company (CNY) | -32,965,969.05 | -180.63% | -15,340,352.59 | -114.62% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses (CNY) | -37,844,464.65 | -199.40% | -30,826,232.04 | -131.95% | | Net Cash Flow from Operating Activities (CNY) | -- | -- | -75,955,296.08 | -2,277.06% | | Basic Earnings Per Share (CNY/share) | -0.05 | -171.43% | -0.02 | -111.76% | | Weighted Average Return on Net Assets | -1.45% | -3.07% | -0.68% | -4.92% | | Balance Sheet (Period-end): | | | | | | Total Assets (CNY) | 4,704,258,122.33 | 7.81% (Compared to End of Previous Year) | | | | Total Equity Attributable to Shareholders of the Listed Company (CNY) | 2,157,810,050.85 | -4.88% (Compared to End of Previous Year) | | | Non-recurring Gains and Losses Items and Amounts During the reporting period, total non-recurring gains and losses amounted to CNY 4,878,495.60, with a year-to-date total of CNY 15,485,879.45, primarily from government grants and fair value changes of financial assets, with no reclassification of non-recurring items as recurring Non-recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (CNY) | Amount Year-to-Date (CNY) | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -217,850.98 | -229,592.24 | | Government Grants Recognized in Current Profit or Loss | 6,227,450.28 | 14,552,999.93 | | Gains and Losses from Changes in Fair Value of Financial Assets and Liabilities and Disposal Gains/Losses | 416,952.36 | 5,018,988.78 | | Other Non-operating Income and Expenses | -240,156.53 | -18,049.83 | | Less: Income Tax Impact | 1,052,565.55 | 3,452,367.72 | | Impact on Minority Interests (After Tax) | 255,333.99 | 386,099.48 | | Total | 4,878,495.60 | 15,485,879.45 | - The company has not reclassified any non-recurring gains and losses as recurring items[10] Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, several key indicators across the balance sheet, income statement, and cash flow statement experienced significant changes, driven by factors such as the completion of private placement projects, increased deposits, revenue decline, investment strategy adjustments, subsidiary losses, and increased project expenditures Key Changes and Reasons in Consolidated Balance Sheet (September 30, 2024 vs. January 1, 2024) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Financial Assets Held for Trading | -67.99% | Completion of Changzhou and Hainan private placement projects, reducing structured deposit scale | | Other Receivables | 206.89% | Increased deposits by Changzhou and Baicheng companies | | Inventories | 37.98% | Decline in parent company revenue, lower than expected revenue | | Investments in Other Equity Instruments | 1504.90% | Company increased equity investment in Beijing Jinghe | | Right-of-Use Assets | 137.20% | Subsidiary increased photovoltaic power generation leases | | Contract Liabilities | 154.08% | Increased contract prepayments by parent company and Hong Kong company | | Taxes Payable | -63.57% | Parent company's VAT and income tax payable decreased compared to the beginning of the year | | Lease Liabilities | 182.67% | Subsidiary increased photovoltaic power generation leases | | Treasury Stock | 37.81% | Share repurchase for employee incentives | | Minority Interests | -62.97% | Losses incurred by battery casing business subsidiary | Key Changes and Reasons in Consolidated Income Statement (Current Period vs. Prior Period) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Financial Expenses | 65.83% | Company projects gradually capitalized, reduced capitalized interest compared to the same period last year, increased interest expenses | | Other Income | 371.08% | Increased government subsidies related to parent company revenue compared to the same period last year | | Investment Income | -89.69% | Reduced scale of structured deposits purchased with raised funds | | Credit Impairment Losses | 312.34% | Company intensified collection of prior year receivables | | Income Tax Expense | -61.53% | Parent company's operating revenue significantly declined, taxable income decreased compared to the same period last year | | Net Profit Attributable to Parent Company Shareholders | -114.62% | Parent company's operating revenue significantly declined, battery casing business subsidiary incurred losses | Key Changes and Reasons in Consolidated Cash Flow Statement (Current Period vs. Prior Period) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -2277.06% | Although revenue slightly decreased, cash inflows from operating activities increased by 4.5% compared to the same period last year, but operating cash outflows increased by 10.18% during the same period | | Net Cash Flow from Investing Activities | -964.69% | Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets increased by 82.64% compared to the same period last year | | Net Cash Flow from Financing Activities | 639.21% | Cash paid for dividends, profits, or interest payments decreased by 79.97% compared to the same period last year | Shareholder Information This section provides details on the company's common stock shareholders, including the total number of shareholders and the shareholding structure of the top ten shareholders Common Stock Shareholders and Top Ten Shareholders' Shareholding As of the end of the reporting period, the company had 25,863 common stock shareholders, with Coreless Co., Ltd. being the largest shareholder at 40.23%, with some shares pledged, and the company's share repurchase account holding 11,852,100 shares - Total common stock shareholders at the end of the reporting period were 25,863[13] Top Ten Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (Shares) | Pledge, Mark, or Freeze Status | Quantity (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Coreless Co., Ltd. | Overseas Legal Person | 40.23% | 252,844,080 | Pledged | 131,500,000 | | Suzhou Chendao Jinxin Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.38% | 8,704,500 | Not Applicable | 0 | | Li Huanyun | Domestic Natural Person | 1.23% | 7,710,500 | Not Applicable | 0 | | China Securities Co., Ltd. | State-Owned Legal Person | 0.72% | 4,497,900 | Not Applicable | 0 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | Other | 0.71% | 4,456,300 | Not Applicable | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.67% | 4,228,219 | Not Applicable | 0 | | Wang Jianhua | Domestic Natural Person | 0.44% | 2,761,409 | Not Applicable | 0 | | Suzhou Slake Precision Equipment Co., Ltd. - Fifth Employee Stock Ownership Plan | Other | 0.44% | 2,752,080 | Not Applicable | 0 | | China Merchants Bank Co., Ltd. - Huaxia CSI 1000 ETF | Other | 0.38% | 2,399,114 | Not Applicable | 0 | | Xu Kangning | Overseas Natural Person | 0.34% | 2,139,750 | Not Applicable | 0 | - The company's dedicated share repurchase account holds 11,852,100 shares[14] Changes in Restricted Shares During the reporting period, the total number of restricted shares slightly increased, primarily due to Peng Jiming's additional 18,141 restricted shares, bringing the period-end total to 162,346 restricted shares, all of which are senior management lock-up shares Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Restricted Shares at End of Period | Reason for Restriction | Proposed Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Nong Yuan | 58,987 | 0 | 0 | 58,987 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Zhao Lan | 28,462 | 0 | 0 | 28,462 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Wang Wei | 24,881 | 0 | 0 | 24,881 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Wang Yin | 18,750 | 0 | 0 | 18,750 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Shan Jinxiu | 13,125 | 0 | 0 | 13,125 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Peng Jiming | 0 | 0 | 18,141 | 18,141 | Senior Management Lock-up | 25% of total shares held at year-end released at the beginning of each year | | Total | 144,205 | 0 | 18,141 | 162,346 | -- | -- | Other Significant Matters This section outlines various significant corporate events and decisions made during the reporting period, including bond adjustments, guarantees, policy adoptions, and project updates Convertible Corporate Bonds The conversion price of the company's convertible bond 'Slake Convertible Bond' was adjusted due to the 2023 annual equity distribution, and the fourth-year interest has been paid - The conversion price of Slake Convertible Bond was adjusted from CNY 9.66/share to CNY 9.56/share due to the implementation of the 2023 annual equity distribution[17] - The fourth-year interest for Slake Convertible Bond has been paid[17] Progress of Guarantees for Subsidiaries The company continuously disclosed progress announcements regarding guarantees provided for its subsidiaries - The company disclosed progress announcements on guarantees for subsidiaries on July 1, 2024, and August 20, 2024[18] Public Opinion Management System The company's board of directors approved the 'Proposal on Formulating a Public Opinion Management System' to strengthen public opinion management - The company approved the 'Proposal on Formulating a Public Opinion Management System' on July 1, 2024[18] Pledge and Release of Pledge of Controlling Shareholder's Shares The controlling shareholder's shares experienced both supplementary pledges and releases of pledges - The company disclosed announcements regarding supplementary pledges and releases of pledges of the controlling shareholder's shares on July 9, 2024, and August 28, 2024[18] Implementation of Annual Equity Distribution The company has disclosed the 'Announcement on the Implementation of the 2023 Annual Equity Distribution' - The company disclosed the 'Announcement on the Implementation of the 2023 Annual Equity Distribution' on July 3, 2024[19] Completion of Fundraising Projects and Fund Adjustment The company approved proposals for the completion of certain fundraising projects, permanent replenishment of working capital with surplus funds, and adjustments to the implementation methods of other fundraising projects - The company approved proposals for the completion of certain fundraising projects, permanent replenishment of working capital with surplus funds, and adjustments to the implementation methods of other fundraising projects on July 10, 2024, and July 26, 2024[19] Controlling Shareholder Plans to Transfer Shares by Agreement The controlling shareholder plans to transfer a portion of the company's shares via agreement, with related progress and supplementary agreement signings disclosed - The company disclosed announcements regarding the controlling shareholder's proposed transfer of shares by agreement, equity changes, and the signing of supplementary agreements on July 26, 2024, and September 26, 2024[19] Project Bidding Results The company disclosed project bidding announcements and the progress of contract signings for awarded projects - The company disclosed project bidding announcements and progress announcements on contract signings for awarded projects on August 20, 2024, and September 30, 2024[19] Cash Management of Idle Raised Funds The company's board of directors and supervisory board approved proposals for using idle raised funds for cash management on multiple occasions - The company approved proposals for using idle raised funds for cash management on July 10, 2024, and August 28, 2024[19][20] Commodity Futures Hedging Business The company's board of directors and supervisory board approved the proposal to continue engaging in commodity futures hedging business - The company approved the 'Proposal on Continuing to Conduct Commodity Futures Hedging Business' on September 25, 2024[20] Finance Lease Business The company's board of directors and supervisory board approved the proposal to engage in finance lease business - The company approved the 'Proposal on the Company's Intention to Conduct Finance Lease Business' on September 30, 2024[20] Quarterly Financial Statements This section presents the company's unaudited consolidated balance sheet, income statement, and cash flow statement for the third quarter and year-to-date 2024 Consolidated Balance Sheet As of September 30, 2024, the company's total assets increased by 7.81% from the beginning of the year, with both current and non-current assets rising, total liabilities significantly increasing, and total equity slightly decreasing Key Data from Consolidated Balance Sheet (As of September 30, 2024) | Item | Balance at End of Period (CNY) | Balance at Beginning of Period (CNY) | | :--- | :--- | :--- | | Cash and Bank Balances | 431,800,088.21 | 374,216,657.36 | | Financial Assets Held for Trading | 120,298,927.56 | 375,783,108.09 | | Accounts Receivable | 655,778,058.38 | 738,438,427.89 | | Inventories | 1,095,163,263.90 | 793,736,971.62 | | Total Current Assets | 2,592,075,858.98 | 2,511,581,844.80 | | Fixed Assets | 905,760,498.84 | 898,178,248.79 | | Construction in Progress | 554,682,643.29 | 527,962,365.26 | | Total Non-current Assets | 2,112,182,263.35 | 1,851,785,650.49 | | Total Assets | 4,704,258,122.33 | 4,363,367,495.29 | | Short-term Borrowings | 353,814,286.80 | 313,992,450.20 | | Contract Liabilities | 189,605,182.12 | 74,624,961.22 | | Total Current Liabilities | 1,199,456,590.57 | 934,710,963.30 | | Long-term Borrowings | 830,885,951.22 | 757,791,948.57 | | Bonds Payable | 243,330,045.37 | 235,790,007.41 | | Total Non-current Liabilities | 1,335,000,462.82 | 999,624,124.58 | | Total Liabilities | 2,534,457,053.39 | 2,062,389,651.06 | | Total Equity Attributable to Parent Company Shareholders | 2,157,810,050.85 | 2,268,595,103.51 | | Minority Interests | 11,991,018.09 | 32,382,740.72 | | Total Equity | 2,169,801,068.94 | 2,300,977,844.23 | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2024, total operating revenue decreased by 4.52% year-on-year, while total operating costs increased, resulting in operating profit and net profit turning from positive to negative, with net profit attributable to parent company shareholders at -CNY 15,340,352.59 Key Data from Consolidated Income Statement (Year-to-Date) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 1,080,668,073.11 | 1,131,836,369.70 | | Total Operating Costs | 1,161,885,090.69 | 1,035,563,406.54 | | Financial Expenses | 49,164,568.55 | 29,647,558.42 | | Other Income | 16,133,847.35 | 3,424,838.50 | | Investment Income | 923,064.64 | 8,954,503.34 | | Credit Impairment Losses | 21,265,252.02 | 5,157,162.26 | | Operating Profit | -41,634,709.82 | 112,071,311.35 | | Total Profit | -41,914,812.28 | 111,784,210.32 | | Income Tax Expense | 9,940,552.74 | 25,836,832.28 | | Net Profit | -51,855,365.02 | 85,947,378.04 | | Net Profit Attributable to Parent Company Shareholders | -15,340,352.59 | 104,920,656.33 | | Minority Interest Income/Loss | -36,515,012.43 | -18,973,278.29 | | Basic Earnings Per Share | -0.02 | 0.17 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2024, net cash flow from operating activities significantly deteriorated to -CNY 75,955,296.08, cash outflows from investing activities increased, while cash inflows from financing activities grew substantially, primarily due to reduced dividend payments Key Data from Consolidated Cash Flow Statement (Year-to-Date) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,400,951,076.95 | 1,337,261,494.25 | | Subtotal of Cash Outflows from Operating Activities | 1,476,906,373.03 | 1,340,456,844.63 | | Net Cash Flow from Operating Activities | -75,955,296.08 | -3,195,350.38 | | Subtotal of Cash Inflows from Investing Activities | 825,886,088.94 | 1,171,606,173.75 | | Subtotal of Cash Outflows from Investing Activities | 868,258,679.01 | 1,166,705,834.90 | | Net Cash Flow from Investing Activities | -42,372,590.07 | 4,900,338.85 | | Subtotal of Cash Inflows from Financing Activities | 695,534,440.76 | 697,237,860.03 | | Subtotal of Cash Outflows from Financing Activities | 513,218,902.42 | 672,574,409.65 | | Net Cash Flow from Financing Activities | 182,315,538.34 | 24,663,450.38 | | Net Increase in Cash and Cash Equivalents | 65,936,060.80 | 30,944,148.78 | | Cash and Cash Equivalents at End of Period | 427,220,378.13 | 513,551,598.12 | Audit Report The company's 2024 third-quarter report is unaudited - The company's third-quarter report is unaudited[29]