思泉新材(301489) - 2024 Q3 - 季度财报

Key Financial Data This section presents the company's key financial data, including accounting metrics, financial indicators, and non-recurring gains and losses, highlighting significant changes and their underlying reasons. Key Accounting Data and Financial Indicators The company achieved significant growth in the first three quarters of 2024, with operating revenue increasing by 31.60% year-on-year and net profit attributable to shareholders increasing by 11.07%. Key Financial Data from Year-Beginning to End of Reporting Period (Jan-Sep 2024) | Indicator | Jan-Sep 2024 | Jan-Sep 2023 (Adjusted) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 424,516,409.63 | 322,572,763.91 | 31.60% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | 41,715,110.02 | 37,558,098.01 | 11.07% | | Net Cash Flow from Operating Activities (RMB) | -37,157,917.90 | 73,806,369.41 | -150.35% | | Basic Earnings Per Share (RMB/share) | 0.72 | 0.87 | -17.24% | | Total Assets (RMB) | 1,374,791,532.00 | 1,198,239,435.71 (End of Previous Year) | 14.73% | Key Financial Data for Q3 (2024 Q3) | Indicator | 2024 Q3 | 2023 Q3 (Adjusted) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 208,021,847.00 | 128,372,692.00 | 62.05% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | 18,808,839.09 | 13,687,946.51 | 37.41% | - The company has implemented "Interpretation No. 16 of Accounting Standards for Business Enterprises" issued by the Ministry of Finance since January 1, 2023, which requires the recognition of deferred income tax for temporary differences arising from the initial recognition of assets and liabilities in specific single transactions[2][3] Non-Recurring Gains and Losses Items and Amounts In the first three quarters of 2024, the company's total non-recurring gains and losses amounted to RMB 2.21 million, primarily from entrusted investments and government grants. Non-Recurring Gains and Losses Items for the First Three Quarters of 2024 | Item | Amount from Year-Beginning to End of Reporting Period (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 546,856.88 | | Government Grants Recognized in Current Profit or Loss | 855,285.78 | | Gains/Losses from Entrusted Investments or Asset Management | 1,349,217.64 | | Other Non-Operating Income and Expenses | -190,879.87 | | Total | 2,214,403.35 | Changes in Key Accounting Data and Financial Indicators and Their Reasons During the reporting period, several of the company's financial indicators showed significant changes, including substantial increases in assets like accounts receivable and inventories, and a shift to negative operating cash flow. Analysis of Changes in Consolidated Balance Sheet Items - Key Changes and Reasons on the Asset Side - Cash and Cash Equivalents: Decreased by 41.09%, primarily due to increased payments for materials and long-term assets[6] - Accounts Receivable: Increased by 58.34%, primarily due to increased revenue in the current period[6] - Inventories: Increased by 65.77%, primarily due to increased inventory preparation in the current period[6] - Construction in Progress: Increased by 37.37%, primarily due to industrial park construction in the current period[6] - Goodwill: Increased by 924.13%, primarily due to business combinations not under common control in the current period[6] - Other Non-Current Assets: Increased by 730.15%, primarily due to prepayments for fixed assets and partial land payments in Vietnam[6] - Key Changes and Reasons on the Liability Side - Notes Payable: Increased by 83.84%, primarily due to bank acceptance bills issued in the current period not yet matured[7] - Contract Liabilities: Increased by 2194.19%, primarily due to significant prepayments from customers in the current period[7] - Other Payables: Increased by 938.62%, primarily due to intercompany borrowings by subsidiaries in the current period[7] - Lease Liabilities: Increased by 342.81%, primarily due to new leases in the current period[7] Analysis of Changes in Consolidated Income Statement Items - Key Changes and Reasons in the Income Statement - Operating Revenue: Increased by 31.60%, primarily due to market expansion in the current period[8] - Selling Expenses: Increased by 72.60%, primarily due to increased employee compensation, entertainment, and travel expenses for market expansion[8] - Administrative Expenses: Increased by 54.44%, primarily due to increased administrative expenses from newly acquired subsidiaries in the current period[8] - Research and Development Expenses: Increased by 52.26%, primarily due to increased investment in R&D projects as the company continues to develop[8] - Credit Impairment Losses: Increased by 112.10%, primarily due to the provision for doubtful accounts on accounts receivable in the current period[8] - Asset Impairment Losses: Increased by 246.50%, primarily due to the provision for inventory obsolescence in the current period[8] Analysis of Changes in Consolidated Cash Flow Statement Items Key Changes and Reasons in Cash Flow Statement (Jan-Sep 2024) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -150.35% | Primarily due to increased payments for materials in the current period | | Net Cash Flow from Investing Activities | -75.79% | Primarily due to increased industrial park construction in the current period | | Net Cash Flow from Financing Activities | -60.00% | Primarily due to decreased bank borrowings and dividend distribution in the current period | Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the holdings of the top ten shareholders. Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings Table As of the end of the reporting period, the company had 9,958 common shareholders, with the actual controller Ren Zeming holding 18.17% of shares. - As of the end of the reporting period, the company had 9,958 common shareholders[10] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Ren Zeming | Domestic Natural Person | 18.17% | 10,482,440 | | Liao Xiaofei | Domestic Natural Person | 10.83% | 6,245,840 | | Wu Pan | Domestic Natural Person | 8.89% | 5,127,220 | | Shenzhen Zhongsen Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 8.09% | 4,668,633 | | Shenzhen Fuhai New Material Phase II Venture Capital Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 5.89% | 3,400,000 | - The company's actual controller, Ren Zeming, holds a 12.40% stake in Shenzhen Zhongsen Investment Partnership (Limited Partnership) and serves as its general partner[12] Changes in Restricted Shares During the reporting period, the company's total restricted shares decreased due to the lifting of restrictions on 745,243 IPO offline restricted shares on April 24, 2024. Overview of Changes in Restricted Shares | Item | Number of Shares | | :--- | :--- | | Restricted Shares at Beginning of Period | 44,006,243 | | Shares Released from Restriction in Current Period | 745,243 | | Shares Added to Restriction in Current Period | 500 | | Restricted Shares at End of Period | 43,261,500 | - 745,243 shares of IPO offline restricted shares were released from restriction on April 24, 2024[14] - Except for the actual controller and their related parties, the proposed release date for most pre-IPO restricted shares was October 24, 2024[13] Other Significant Matters The company has no other significant matters to disclose in this reporting period. - The report explicitly states that there are no other significant matters for the company[15] Quarterly Financial Statements This section provides the unaudited consolidated financial statements for the third quarter of 2024, including the balance sheet, income statement, and cash flow statement. Consolidated Balance Sheet As of September 30, 2024, the company's total assets were RMB 1.37 billion, an increase of 14.73% from the beginning of the year. Key Items of Consolidated Balance Sheet (September 30, 2024) | Item | Period-End Balance (RMB) | Period-Beginning Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 1,374,791,532.00 | 1,198,239,435.71 | | Total Liabilities | 348,456,953.66 | 195,224,159.17 | | Total Equity Attributable to Parent Company Owners | 1,022,717,279.93 | 997,225,535.44 | | Total Liabilities and Equity | 1,374,791,532.00 | 1,198,239,435.71 | Consolidated Income Statement from Year-Beginning to End of Reporting Period From January to September 2024, the company achieved total operating revenue of RMB 424.52 million, a year-on-year increase of 31.60%. Key Items of Consolidated Income Statement (Jan-Sep 2024) | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | I. Total Operating Revenue | 424,516,409.63 | 322,572,763.91 | | III. Operating Profit | 45,466,698.12 | 42,532,482.21 | | IV. Total Profit | 45,268,068.91 | 42,485,490.44 | | Net Profit Attributable to Parent Company Shareholders | 41,715,110.02 | 37,558,098.01 | | VIII. Basic Earnings Per Share | 0.72 | 0.87 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period From January to September 2024, the company's net cash flow from operating activities was -RMB 37.16 million, a significant year-on-year decrease. Key Items of Consolidated Cash Flow Statement (Jan-Sep 2024) | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -37,157,917.90 | 73,806,369.41 | | Net Cash Flow from Investing Activities | -171,465,271.48 | -97,539,569.46 | | Net Cash Flow from Financing Activities | 14,302,662.37 | 35,757,302.94 | | Net Increase in Cash and Cash Equivalents | -194,650,384.37 | 13,770,668.66 | | Period-End Balance of Cash and Cash Equivalents | 203,308,088.17 | 91,864,225.64 |