双枪科技(001211) - 2024 Q3 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators In the first three quarters of 2024, the company achieved robust revenue growth of 37.12% year-over-year, but profitability was under pressure, with net profit attributable to shareholders in Q3 alone declining sharply by 93.16%, and total assets increasing by 11.05% compared to the end of the previous year Key Financial Indicators for Q3 2024 | Indicator | Current Period (Q3) (CNY) | YoY Change in Current Period | Year-to-Date (YTD) (CNY) | YoY Change in Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 319,483,509.12 | 21.58% | 927,765,827.23 | 37.12% | | Net Profit Attributable to Shareholders | 806,424.17 | -93.16% | 14,153,260.21 | Not Applicable | | Basic Earnings Per Share (CNY/share) | 0.01 | -93.75% | 0.20 | Not Applicable | | Weighted Average Return on Net Assets | 0.09% | -1.27% | 1.64% | 2.10% | | Total Assets | 1,806,060,391.66 | 11.05% (vs. prior year-end) | - | - | | Shareholders' Equity Attributable to Parent Company | 858,042,776.90 | -0.91% (vs. prior year-end) | - | - | 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 7.80 million CNY, primarily from government subsidies, positively contributing to current period profit, with net profit after deducting non-recurring items being 6.36 million CNY Non-Recurring Gains and Losses Items from Year-Beginning to End of Reporting Period | Item | Amount from Year-Beginning to End of Reporting Period (CNY) | | :--- | :--- | | Government Subsidies Included in Current Profit/Loss | 9,052,101.26 | | Gains/Losses from Disposal of Non-Current Assets | -742,969.31 | | Other Non-Operating Income and Expenses | 912,716.46 | | Total | 7,796,877.33 | Analysis of Financial Indicator Changes During the reporting period, the company's financial position changed significantly, with substantial increases in inventory, long-term borrowings, and other non-current assets reflecting business expansion and project investments, while increased taxes from revenue growth and inventory impairment provisions eroded profits, and operating cash flow turned negative, primarily relying on financing activities for liquidity Balance Sheet Item Changes As of the end of the reporting period, the company's balance sheet structure changed significantly, with inventory increasing by 37.65% from the beginning of the year due to expanded sales, other non-current assets surging by 209.82% due to increased prepaid engineering equipment, long-term borrowings rising by 235.00% to support business development, and minority interests eliminated after acquiring 100% equity in Yingde Jiyue - Inventory: Increased by 37.65% from the beginning of the year, primarily due to expanded sales scale and increased product categories requiring more stock[7] - Other Non-Current Assets: Surged by 209.82% from the beginning of the year, mainly due to increased prepaid engineering equipment expenses in the current period[7] - Long-Term Borrowings: Significantly increased by 235.00% from the beginning of the year, primarily due to increased bank borrowings in the current period[7] - Minority Interests: Decreased by 100.00% from the beginning of the year, primarily due to the company's acquisition of minority equity in Yingde Jiyue, achieving 100% ownership in the current period[7] Income Statement Item Changes In the first three quarters of 2024, the company's income statement items fluctuated significantly, with taxes and surcharges increasing by 81.66% year-over-year due to substantial revenue growth, while asset impairment losses rose significantly due to increased inventory impairment provisions negatively impacting profit, and credit impairment losses decreased by 83.11% year-over-year due to reduced bad debt provisions for accounts receivable - Taxes and Surcharges: Increased by 81.66% year-over-year, primarily due to a significant rise in revenue during the current period[8] - Asset Impairment Losses: Expanded losses, primarily due to increased provision for inventory impairment in the current period[9] - Credit Impairment Losses: Decreased by 83.11% year-over-year, primarily due to reduced provision for bad debts on accounts receivable and other receivables in the current period[8] Cash Flow Statement Item Changes Cash flow in the first three quarters showed net cash flow from operating activities shifted from a net inflow of 42.90 million CNY in the prior year to a net outflow of 55.38 million CNY, mainly due to increased cash paid for goods, while net cash outflow from investing activities significantly narrowed, and net cash inflow from financing activities increased by 91.28% year-over-year, indicating the company relied on increased bank borrowings to support operations and investments Cash Flow Statement Item Changes from Year-Beginning to End of Reporting Period | Item | Jan-Sep 2024 (CNY) | Jan-Sep 2023 (CNY) | Reason for Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -55,378,363.45 | 42,901,731.30 | Increased cash paid for goods, etc | | Net Cash Flow from Investing Activities | -65,441,261.88 | -138,118,573.40 | Both cash received from and paid for investments decreased | | Net Cash Flow from Financing Activities | 164,809,166.37 | 86,163,096.03 | Increased cash received from borrowings | Shareholder Information Shareholding Status As of September 30, 2024, the company had 7,928 common shareholders, with a relatively concentrated equity structure where Zhejiang Tianjun Investment Co., Ltd. is the largest shareholder holding 32.81%, and the actual controllers, Mr. Zheng Chenglie and Ms. Ye Lirong, collectively control a significant portion of the company's shares through direct and indirect means - The total number of common shareholders at the end of the reporting period was 7,928[11] Top Three Shareholders' Shareholding Status | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Zhejiang Tianjun Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 32.81% | 23,619,654 | | Zheng Chenglie | Domestic Natural Person | 6.28% | 4,524,482 | | Zhejiang Huarui Taixin Venture Capital Co., Ltd. | Domestic Non-State-Owned Legal Person | 6.07% | 4,371,800 | - The company's actual controllers are Mr. Zheng Chenglie and Ms. Ye Lirong (husband and wife), with Mr. Zheng Chenglie also holding shares in the largest shareholder, Zhejiang Tianjun Investment Co., Ltd[12] Other Significant Matters Share Repurchase The company is executing a share repurchase plan, intending to use 10 million to 20 million CNY of self-owned or self-raised funds to repurchase shares for equity incentive or employee stock ownership plans, with the original expiration date of May 21, 2024, extended by six months to November 21, 2024, and as of September 30, 2024, 990,800 shares, representing 1.38% of total share capital, have been cumulatively repurchased - Repurchase Purpose: For equity incentive plans or employee stock ownership plans[13] - Repurchase Amount: Total amount not less than 10 million CNY and not exceeding 20 million CNY[13] - Repurchase Period: After extension, the implementation period is from February 22, 2024, to November 21, 2024[14] - Repurchase Progress: As of September 30, 2024, a cumulative total of 990,800 shares have been repurchased, representing 1.38% of the company's total share capital[15] Quarterly Financial Statements Consolidated Balance Sheet This section provides the detailed consolidated balance sheet as of September 30, 2024, showing total assets of 1.81 billion CNY, total liabilities of 948.02 million CNY, and owners' equity attributable to the parent company of 858.04 million CNY Key Items of Consolidated Balance Sheet (September 30, 2024) | Item | Period-End Balance (CNY) | | :--- | :--- | | Total Assets | 1,806,060,391.66 | | Total Liabilities | 948,017,614.76 | | Total Owners' Equity Attributable to Parent Company | 858,042,776.90 | | Total Liabilities and Owners' Equity | 1,806,060,391.66 | Consolidated Income Statement This section presents the detailed consolidated income statement for January to September 2024, showing the company achieved total operating revenue of 927.77 million CNY, operating profit of 11.19 million CNY, and net profit of 14.15 million CNY, successfully turning losses into profits Key Items of Consolidated Income Statement (Jan-Sep 2024) | Item | Amount for Current Period (CNY) | | :--- | :--- | | I. Total Operating Revenue | 927,765,827.23 | | III. Operating Profit | 11,190,262.69 | | V. Net Profit | 14,153,260.21 | | Net Profit Attributable to Parent Company Shareholders | 14,153,260.21 | Consolidated Cash Flow Statement This section provides the detailed consolidated cash flow statement for January to September 2024, showing net cash flow from operating activities of -55.38 million CNY, net outflow from investing activities of 65.44 million CNY, net inflow from financing activities of 164.81 million CNY, and a period-end cash and cash equivalents balance of 138.94 million CNY Key Items of Consolidated Cash Flow Statement (Jan-Sep 2024) | Item | Amount for Current Period (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -55,378,363.45 | | Net Cash Flow from Investing Activities | -65,441,261.88 | | Net Cash Flow from Financing Activities | 164,809,166.37 | | Net Increase in Cash and Cash Equivalents | 46,484,627.57 | | Period-End Balance of Cash and Cash Equivalents | 138,942,361.17 | Audit Status The company's Q3 2024 report is unaudited - The company's third-quarter report is unaudited[23]