启迪药业(000590) - 2024 Q3 - 季度财报

Key Financial Data Key Accounting Data and Financial Indicators The company experienced significant Q3 and year-to-date revenue and net profit declines, turning to a loss, while operating cash flow substantially increased year-to-date Overview of Key Accounting Data and Financial Indicators | Indicator | Current Period (CNY) | YoY Change (%) | Year-to-Date (CNY) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 69,577,822.23 | -17.74% | 216,231,190.77 | -21.26% | | Net Profit Attributable to Shareholders of Listed Company | -5,059,836.75 | -10,727.91% | -28,454,466.79 | -542.52% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | -7,494,855.86 | -1,285.73% | -31,883,841.54 | -1,159.85% | | Net Cash Flow from Operating Activities | — | — | 13,907,060.65 | 166.10% | | Basic EPS (CNY/share) | -0.0211 | -10,650% | -0.1188 | -541.64% | | Weighted Average ROE | -0.72% | -0.73% | -4.01% | -4.93% | | Total Assets (Period-end) | 1,107,489,389.07 | -3.79% (vs. Prior Year-end) | — | — | | Total Equity Attributable to Shareholders of Listed Company (Period-end) | 695,263,175.51 | -3.93% (vs. Prior Year-end) | — | — | - The company's Q3 report is unaudited[2] Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 2.44 million CNY for the current period and 3.43 million CNY year-to-date, primarily driven by government grants Non-recurring Gains and Losses Items and Amounts | Item | Current Period Amount (CNY) | Year-to-Date Amount (CNY) | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | 32,401.39 | 64,231.86 | | Government Grants Included in Current Period Profit/Loss | 2,624,524.09 | 4,458,321.11 | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | 260,582.02 | 236,020.14 | | Other Non-operating Income and Expenses | -107,160.34 | -762,676.26 | | Total | 2,435,019.11 | 3,429,374.75 | - The company has not classified any non-recurring gains and losses items as recurring items[5] Changes and Reasons for Key Accounting Data and Financial Indicators The company experienced significant balance sheet changes, a sharp decline in net profit, and a substantial increase in operating cash flow Changes and Reasons for Key Balance Sheet Items | Balance Sheet Item | Period-end Balance (CNY) | Period-beginning Balance (CNY) | Change Percentage (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Financial Assets Held for Trading | 30,000,000.00 | 0 | 100% | Due to purchase of structured deposits | | Notes Receivable | 32,975,416.02 | 60,312,490.20 | -45.33% | Primarily due to maturity and acceptance of notes during the reporting period | | Accounts Receivable | 9,733,186.10 | 21,548,146.15 | -54.83% | Primarily due to collection of some accounts receivable | | Financing for Receivables | 27,154,555.83 | 70,392,273.84 | -61.42% | Primarily due to maturity and discounting of notes | | Short-term Borrowings | 5,492,456.30 | 0.00 | 100.00% | Due to increased borrowings | | Retained Earnings | -64,170,911.41 | -35,716,444.62 | -79.67% | Due to losses incurred during the reporting period | Changes and Reasons for Key Income Statement and Cash Flow Statement Items | Item | Current Year-to-Date (CNY) | Prior Year-to-Date (CNY) | Change Percentage (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -28,454,466.79 | 6,430,149.78 | -542.52% | Primarily due to decreased operating revenue and increased raw material prices, leading to a decline in overall gross margin and profitability | | Net Cash Flow from Operating Activities | 13,907,060.65 | -21,039,216.74 | 166.10% | Primarily due to increased cash from collection (including discounting) of accepted bills received from sales of goods compared to the prior year period | | Net Cash Flow from Financing Activities | 6,968,745.57 | -20,164,681.50 | 134.56% | Primarily due to increased bank borrowings obtained and decreased bank borrowings repaid in the current period compared to the prior year period | Shareholder Information Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings The company had 19,808 common shareholders, with Qidi Technology Services Co., Ltd. (24.47%, all frozen) and Hengyang Hongxiang State-owned Investment (Holdings) Group Co., Ltd. (19.11%) as key holders - The total number of common shareholders at the end of the reporting period was 19,808[7] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (shares) | Share Status | Frozen/Pledged Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Qidi Technology Services Co., Ltd. | Domestic Non-state-owned Legal Person | 24.47% | 58,606,962.00 | Frozen | 58,606,962.00 | | Hengyang Hongxiang State-owned Investment (Holdings) Group Co., Ltd. | State-owned Legal Person | 19.11% | 45,757,337.00 | N/A | 0 | | Beijing Huaqing Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 1.90% | 4,544,451.00 | Pledged | 2,270,000.00 | | Zhan Bingjie | Domestic Natural Person | 0.83% | 1,995,297.00 | N/A | 0 | | Wang Qi | Domestic Natural Person | 0.67% | 1,609,985.00 | N/A | 0 | - Qidi Technology Services Co., Ltd. and Beijing Huaqing Investment Co., Ltd. are related parties and acting in concert[8] Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[9] Other Significant Matters Termination of Equity Transfer and Refund Wuhan Mingshi Pharmaceutical Co., Ltd. unilaterally terminated the equity transfer agreement in September 2024, and the company received a full refund of 42.41 million CNY, rendering the acquisition unable to proceed - Wuhan Mingshi Pharmaceutical Co., Ltd. unilaterally terminated the equity transfer with the company in September 2024[9] - The company has received a full refund of the initial share transfer payment totaling 42.41 million CNY from the transferor[9] - Given the failure of both parties to agree on continuing the acquisition, this equity acquisition cannot proceed[9][10] Quarterly Financial Statements Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement, reflecting its financial position, operating results, and cash flows Consolidated Balance Sheet As of the reporting period end, total assets and equity slightly decreased, with financial assets held for trading significantly increasing and receivables decreasing, while short-term borrowings rose and employee benefits and taxes payable fell Key Consolidated Balance Sheet Items (Period-end vs. Period-beginning Balance) | Item | Period-end Balance (CNY) | Period-beginning Balance (CNY) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 160,355,670.26 | 189,769,846.04 | | Financial Assets Held for Trading | 30,000,000.00 | 0 | | Notes Receivable | 32,975,416.02 | 60,312,490.20 | | Accounts Receivable | 9,733,186.10 | 21,548,146.15 | | Financing for Receivables | 27,154,555.83 | 70,392,273.84 | | Inventories | 146,906,693.02 | 130,086,662.21 | | Construction in Progress | 31,298,484.77 | 23,834,157.21 | | Total Assets | 1,107,489,389.07 | 1,151,120,901.66 | | Short-term Borrowings | 5,492,456.30 | 0 | | Employee Benefits Payable | 19,455,792.95 | 40,100,682.74 | | Taxes Payable | 2,456,364.04 | 9,448,615.46 | | Total Liabilities | 407,169,835.57 | 422,917,896.78 | | Total Equity Attributable to Parent Company Shareholders | 695,263,175.51 | 723,717,642.30 | | Retained Earnings | -64,170,911.41 | -35,716,444.62 | Consolidated Income Statement Year-to-Date The company's year-to-date total operating revenue was 216.23 million CNY, a 21.26% decrease year-on-year, with net profit turning to a -28.23 million CNY loss from a 6.58 million CNY profit, mainly due to lower revenue and increased administrative expenses Key Consolidated Income Statement Items (Year-to-Date) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 216,231,190.77 | 274,629,835.65 | | Total Operating Costs | 245,156,662.17 | 268,572,599.48 | | Operating Costs | 116,313,531.97 | 130,212,461.70 | | Selling Expenses | 48,318,651.88 | 64,758,425.58 | | Administrative Expenses | 63,437,965.33 | 56,559,909.23 | | R&D Expenses | 9,725,247.73 | 9,252,948.84 | | Operating Profit | -24,972,861.14 | 9,493,975.95 | | Total Profit | -25,735,752.62 | 9,491,775.50 | | Net Profit | -28,233,451.38 | 6,577,260.14 | | Net Profit Attributable to Parent Company Shareholders | -28,454,466.79 | 6,430,149.78 | | Basic EPS | -0.1188 | 0.0269 | Consolidated Cash Flow Statement Year-to-Date Year-to-date net cash flow from operating activities turned positive, increasing 166.10% due to higher sales cash, while investing cash outflow expanded and financing cash flow turned positive from increased borrowings and decreased repayments Key Consolidated Cash Flow Statement Items (Year-to-Date) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 313,769,905.77 | 282,401,215.59 | | Net Cash Flow from Operating Activities | 13,907,060.65 | -21,039,216.74 | | Net Cash Flow from Investing Activities | -55,772,384.59 | -44,024,157.45 | | Net Cash Flow from Financing Activities | 6,968,745.57 | -20,141,303.34 | | Net Increase in Cash and Cash Equivalents | -34,896,578.37 | -85,204,677.53 | | Period-end Cash and Cash Equivalents Balance | 143,167,107.30 | 149,608,547.16 | - Cash received from borrowings in the current period was 36.26 million CNY, an increase from 20.00 million CNY in the prior period[16] Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2024 The company is not required to adjust financial statement items at the beginning of the first year of adopting new accounting standards from 2024 - The company is not required to adjust financial statement items at the beginning of the first year of adopting new accounting standards from 2024[16] Audit Report The company's 2024 Q3 report is unaudited - The company's Q3 report is unaudited[17]