ASCF(SH:600855)2022-10-28 16:00Item I. Major Financial Data (I) Major Accounting Data and Financial Indicators The company experienced significant performance declines in Q3 2022 and year-to-date, with Q3 operating revenue decreasing by 31.59% and net profit attributable to parent company shareholders plummeting by 94.11%, leading to a year-to-date loss of 23.11 million yuan Major Financial Indicators for Q3 2022 and Year-to-Date | Item | Current Period (Q3) | YoY Change in Current Period (%) | Year-to-Date (YTD) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 419 million yuan | -31.59% | 1.066 billion yuan | -32.92% | | Net Profit Attributable to Shareholders of Listed Company | 0.5714 million yuan | -94.11% | -23.1079 million yuan | -126.29% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -10.5607 million yuan | -710.02% | -47.9480 million yuan | -161.39% | | Basic Earnings Per Share (yuan/share) | 0.0013 | -94.12% | -0.0527 | -126.30% | Major Balance Sheet Indicators at Period End | Item | End of Current Period | End of Previous Year | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3.930 billion yuan | 4.386 billion yuan | -10.41% | | Shareholders' Equity Attributable to Shareholders of Listed Company | 1.723 billion yuan | 1.778 billion yuan | -3.09% | (II) Non-recurring Gains and Losses Items and Amounts The company's year-to-date non-recurring gains and losses totaled 24.84 million yuan, primarily comprising 26.04 million yuan in government grants, while classifying software VAT refunds and individual income tax handling fee refunds as recurring items Major Non-recurring Gains and Losses Items Year-to-Date | Item | Amount (yuan) | Description | | :--- | :--- | :--- | | Government Grants Recognized in Current Period P&L | 26,037,292.56 | Government grants | | Gains/Losses from Disposal of Non-current Assets | -260,031.99 | Mainly disposal of scrapped fixed assets | | Total | 24,840,081.52 | | - The company classifies software VAT refunds (0.467 million yuan) and individual income tax handling fee refunds (0.343 million yuan), which are closely related to normal operations and continuously enjoyed, as recurring gain and loss items9 (III) Analysis of Changes in Major Accounting Data, Financial Indicators and Reasons The company's significant performance decline is primarily due to the security technology business's transformation, leading to reduced revenue from abandoning low-margin projects, and decreased medical device sales post-pandemic, while operating cash outflow narrowed due to reduced security business payments and increased electronic information business collections - Operating revenue decreased by 32.92% year-to-date, primarily due to the security technology business's transformation and the gradual abandonment of certain low-margin projects10 - Net profit significantly declined by 126.29% year-to-date, mainly due to medical device product sales returning to normal, resulting in fewer new contracts and decreased product sales10 - Year-to-date net cash flow from operating activities was -279 million yuan, a 233 million yuan reduction in net outflow (a 45.49% improvement) compared to the prior year, mainly due to decreased payments from reduced security technology business revenue and enhanced accounts receivable collection in the electronic information business106 Item II. Shareholder Information (I) Total Number of Common Shareholders and Preferred Shareholders with Restored Voting Rights and Top Ten Shareholders' Shareholding Table As of the reporting period end, the company had 49,024 common shareholders, with China Aerospace Science and Industry Defense Technology Research Institute as the largest shareholder holding 31.34%, and several top ten shareholders being subsidiaries of China Aerospace Science and Industry Corporation Limited, constituting related parties - At the end of the reporting period, the company had 49,024 common shareholders12 Top Three Shareholders' Shareholding | Shareholder Name | Shareholder Type | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | China Aerospace Science and Industry Defense Technology Research Institute | State-owned Legal Entity | 141,150,722 | 31.34 | | Chaoyang Power Supply Co., Ltd. | Domestic Non-state-owned Legal Entity | 42,949,467 | 9.54 | | Beijing Institute of Computer Application and Simulation Technology | State-owned Legal Entity | 10,245,120 | 2.27 | - Beijing Institute of Computer Application and Simulation Technology, China Aerospace Science and Industry Corporation Second Academy 206 Institute, and China Aerospace Science and Industry Corporation Second Academy 706 Institute, among the top ten shareholders, are all subordinate to China Aerospace Science and Industry Defense Technology Research Institute and ultimately belong to China Aerospace Science and Industry Corporation Limited15 Item III. Other Reminders No other significant operating information requiring investors' special attention was noted during the reporting period - The company has no other significant information requiring investors' attention during this reporting period16 Item IV. Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets were 3.930 billion yuan, a 10.41% decrease from the prior year-end, and total liabilities were 2.115 billion yuan, a 15.75% decrease, indicating a contraction in both asset and liability scales, with cash and bank balances decreasing by 39.8% while accounts receivable increased by 10.1% Major Changes in Consolidated Balance Sheet Items | Item | September 30, 2022 (yuan) | December 31, 2021 (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,929,811,334.98 | 4,386,443,824.69 | -10.41% | | Cash and Bank Balances | 620,181,839.26 | 1,030,023,055.17 | -39.79% | | Accounts Receivable | 1,120,546,613.25 | 1,017,511,871.85 | +10.13% | | Inventories | 1,008,231,650.05 | 1,021,483,281.28 | -1.30% | | Total Liabilities | 2,114,974,724.06 | 2,510,251,219.30 | -15.75% | | Accounts Payable | 990,780,267.36 | 1,222,539,676.97 | -18.96% | | Total Shareholders' Equity | 1,814,836,610.92 | 1,876,192,605.39 | -3.27% | Consolidated Income Statement In the first three quarters of 2022, the company's operating revenue was 1.066 billion yuan, a 32.92% year-on-year decrease, with operating costs also decreasing by 32.17% and gross margin remaining stable, but operating profit shifted from a 104 million yuan profit to a 12.20 million yuan loss due to relatively rigid expenses, resulting in a net loss of 23.11 million yuan attributable to parent company shareholders Major Changes in Consolidated Income Statement Items (Year-to-Date) | Item | First Three Quarters of 2022 (yuan) | First Three Quarters of 2021 (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,065,803,060.13 | 1,588,905,967.25 | -32.92% | | Operating Cost | 773,053,311.58 | 1,139,672,960.89 | -32.17% | | Selling Expenses | 92,507,019.70 | 126,729,991.41 | -27.01% | | Administrative Expenses | 157,318,967.25 | 151,101,304.25 | +4.12% | | R&D Expenses | 77,091,425.36 | 75,268,344.97 | +2.42% | | Operating Profit | -12,195,263.57 | 104,113,995.13 | -111.71% | | Net Profit Attributable to Parent Company Shareholders | -23,107,946.71 | 87,887,638.86 | -126.29% | | Basic Earnings Per Share (yuan/share) | -0.0527 | 0.2004 | -126.30% | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities was -280 million yuan, a significant 45.49% improvement from the -513 million yuan outflow in the prior year, while investing and financing activities both resulted in net outflows of -24.41 million yuan and -79.92 million yuan respectively, with cash and cash equivalents at period-end totaling 598 million yuan, a 384 million yuan decrease from the beginning of the period Major Items in Consolidated Cash Flow Statement (Year-to-Date) | Item | First Three Quarters of 2022 (yuan) | First Three Quarters of 2021 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -279,643,718.28 | -513,015,867.08 | | Net Cash Flow from Investing Activities | -24,407,555.83 | -28,893,480.07 | | Net Cash Flow from Financing Activities | -79,922,098.37 | 56,762,520.03 | | Net Increase in Cash and Cash Equivalents | -383,814,167.21 | -485,320,262.76 | | Cash and Cash Equivalents at Period End | 597,996,168.15 | 615,555,882.69 | Parent Company Financial Statements At the parent company level, operating revenue for the first three quarters of 2022 was 37.59 million yuan, a significant 83.85% year-on-year decrease, yet net profit reached 16.83 million yuan due to 121 million yuan in investment income (a 69.06% year-on-year increase), though still a 70.36% decline from the prior year's 56.78 million yuan, with operating cash flow showing a 130 million yuan net outflow - Parent company operating revenue sharply decreased by 83.85% year-on-year, but profit performance was supported by 121 million yuan in investment income31 Core Data from Parent Company Income Statement and Cash Flow Statement (Year-to-Date) | Item | First Three Quarters of 2022 (yuan) | First Three Quarters of 2021 (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 37,586,427.22 | 232,786,149.97 | -83.85% | | Investment Income | 120,660,747.62 | 71,369,637.41 | +69.06% | | Net Profit | 16,825,803.57 | 56,777,784.62 | -70.36% | | Net Cash Flow from Operating Activities | -130,412,013.96 | -158,061,465.71 | +17.49% |