金诚信(603979) - 2019 Q3 - 季度财报

Important Notice The company's board of directors, supervisory board, and senior management ensure the authenticity, accuracy, and completeness of this quarterly report, assuming corresponding legal liabilities, and note that this Q3 2019 report is unaudited Statement on Report Authenticity and Audit Status The company's board of directors, supervisory board, and senior management ensure the authenticity, accuracy, and completeness of this quarterly report, assuming corresponding legal liabilities, and note that this Q3 2019 report is unaudited - Company management guarantees the authenticity, accuracy, and completeness of the quarterly report and assumes legal responsibility[4] - This quarterly report is unaudited[4] Company Profile As of Q3 2019, total assets reached RMB 6.795 billion, up 8.32% from year-end, with Q1-Q3 revenue at RMB 2.397 billion and net profit attributable to shareholders at RMB 233 million, while operating cash flow significantly improved from negative to positive Key Financial Data As of Q3 2019, total assets reached RMB 6.795 billion, up 8.32% from year-end, with Q1-Q3 revenue at RMB 2.397 billion and net profit attributable to shareholders at RMB 233 million, while operating cash flow significantly improved from negative to positive Key Financial Data for Q1-Q3 2019 | Indicator | Q1-Q3 2019 (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 2,397,443,257.57 | 8.02% | | Net Profit Attributable to Listed Company Shareholders | 232,821,126.18 | 3.79% | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-recurring Items) | 236,261,649.59 | 10.01% | | Net Cash Flow from Operating Activities | 38,189,981.56 | N/A | | Basic Earnings Per Share (RMB/share) | 0.40 | 5.26% | | Total Assets (End of Reporting Period) | 6,794,937,632.83 | 8.32% (vs. prior year-end) | | Net Assets Attributable to Listed Company Shareholders (End of Reporting Period) | 4,209,172,987.86 | 3.86% (vs. prior year-end) | - In Q1-Q3 2019, non-recurring gains and losses totaled -RMB 3.44 million, primarily due to losses on disposal of non-current assets and other non-operating income/expenses[6][7] Shareholder Information As of the reporting period end, the company had 28,613 shareholders, with Jin Cheng Xin Group Co., Ltd. as the controlling shareholder holding 47.57%, and related parties among the top ten shareholders having some pledged shares - As of the reporting period end, the company had 28,613 shareholders[8] Top Five Shareholders' Holdings | Shareholder Name | Shares Held | Percentage (%) | Share Status | | :--- | :--- | :--- | :--- | | Jin Cheng Xin Group Co., Ltd. | 277,523,556 | 47.5693 | Pledged | | Yingtan Jincheng Investment Development Co., Ltd. | 13,403,481 | 2.2974 | Pledged | | Yingtan Jinxin Investment Development Co., Ltd. | 12,580,930 | 2.1565 | Pledged | | Zhongyi Asset Management - ICBC - Zhongyi Asset - Sunflower Select No. 3 Asset Management Product | 11,668,168 | 2.0000 | Unknown | | CRSC Trust Co., Ltd. - Yingtong No. 14 Single Fund Trust | 9,258,080 | 1.5869 | None | - Controlling shareholder Jin Cheng Xin Group has an associated relationship with Yingtan Jincheng and Yingtan Jinxin; additionally, 'CRSC Trust Co., Ltd. - Yingtong No. 14 Single Fund Trust' represents the company's first employee stock ownership plan[10] Significant Events During the reporting period, significant changes occurred in several financial statement items, notably intangible assets and other payables increasing by 714.48% and 813.24% respectively, primarily due to the acquisition of a 90% stake in Liangchahe Mining, which increased mining rights and equity acquisition payables Analysis of Significant Changes in Key Financial Statement Items and Indicators During the reporting period, significant changes occurred in several financial statement items, notably intangible assets and other payables increasing by 714.48% and 813.24% respectively, primarily due to the acquisition of a 90% stake in Liangchahe Mining, which increased mining rights and equity acquisition payables Significant Changes in Balance Sheet Items | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Intangible Assets | 714.48% | Due to the acquisition of 90% equity in Liangchahe Mining, increasing mining rights | | Other Payables | 813.24% | Due to the acquisition of 90% equity in Liangchahe Mining, increasing payables for equity acquisition | | Prepayments | 65.48% | Due to increased prepayments for materials | | Long-term Borrowings | 53.76% | Due to increased long-term bank borrowings | | Bonds Payable | -56.24% | Due to repayment of some matured bonds | - Net cash flow from operating activities significantly improved year-on-year, primarily due to increased cash received from sales of goods and rendering of services[13] Appendix This section presents the unaudited consolidated and parent company financial statements as of September 30, 2019, including the balance sheet, income statement, and cash flow statement, comprehensively reflecting the company's financial position, operating results, and cash flows for the reporting period Financial Statements This section presents the unaudited consolidated and parent company financial statements as of September 30, 2019, including the balance sheet, income statement, and cash flow statement, comprehensively reflecting the company's financial position, operating results, and cash flows for the reporting period Consolidated Balance Sheet As of September 30, 2019, consolidated total assets were RMB 6.795 billion, up 8.32% from year-start, with total liabilities at RMB 2.496 billion and equity attributable to parent company owners at RMB 4.209 billion, primarily driven by increased intangible assets from acquisitions Key Consolidated Balance Sheet Data (Unit: RMB) | Item | September 30, 2019 | December 31, 2018 | | :--- | :--- | :--- | | Total Assets | 6,794,937,632.83 | 6,272,804,927.35 | | Total Liabilities | 2,496,309,042.77 | 2,199,769,907.72 | | Total Equity Attributable to Parent Company Owners | 4,209,172,987.86 | 4,052,737,776.50 | Parent Company Balance Sheet As of September 30, 2019, parent company total assets were RMB 5.014 billion, total liabilities RMB 1.818 billion, and total owner's equity RMB 3.196 billion, showing slight increases in assets and liabilities and a slight decrease in owner's equity compared to year-start Key Parent Company Balance Sheet Data (Unit: RMB) | Item | September 30, 2019 | December 31, 2018 | | :--- | :--- | :--- | | Total Assets | 5,014,243,363.43 | 4,926,169,140.71 | | Total Liabilities | 1,817,996,092.28 | 1,643,034,506.15 | | Total Owner's Equity | 3,196,247,271.15 | 3,283,134,634.56 | Consolidated Income Statement In Q1-Q3 2019, total operating revenue reached RMB 2.397 billion, up 8.02%, with net profit attributable to parent company shareholders at RMB 233 million, up 3.79%, and Q3 single-quarter revenue at RMB 871 million with net profit of RMB 67 million Key Consolidated Income Statement Data (Q1-Q3 2019) | Item | Q1-Q3 2019 (Jan-Sep) (RMB) | Q1-Q3 2018 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 2,397,443,257.57 | 2,219,438,931.69 | | Operating Profit | 306,895,818.60 | 268,886,933.23 | | Total Profit | 302,212,262.81 | 269,804,380.28 | | Net Profit Attributable to Parent Company Shareholders | 232,821,126.18 | 224,328,846.31 | | Basic Earnings Per Share (RMB/share) | 0.40 | 0.38 | Parent Company Income Statement In Q1-Q3 2019, parent company operating revenue reached RMB 1.273 billion, up 6.49%, but net profit was RMB 44.98 million, a 35.69% decrease from RMB 69.95 million in the prior year period Key Parent Company Income Statement Data (Q1-Q3 2019) | Item | Q1-Q3 2019 (Jan-Sep) (RMB) | Q1-Q3 2018 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Operating Revenue | 1,273,182,484.58 | 1,195,631,156.92 | | Operating Profit | 58,297,719.61 | 83,309,877.83 | | Net Profit | 44,984,607.43 | 69,954,705.05 | Consolidated Cash Flow Statement In Q1-Q3 2019, net cash flow from operating activities was RMB 38.19 million, a significant improvement from -RMB 158 million in the prior year, primarily due to increased sales collections, with net cash outflows of RMB 243 million from investing activities and RMB 116 million from financing activities, resulting in an ending cash and cash equivalents balance of RMB 770 million Key Consolidated Cash Flow Statement Data (Q1-Q3 2019) | Item | Q1-Q3 2019 (Jan-Sep) (RMB) | Q1-Q3 2018 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 38,189,981.56 | -157,674,289.73 | | Net Cash Flow from Investing Activities | -243,054,029.46 | -349,825,352.51 | | Net Cash Flow from Financing Activities | -115,553,110.37 | 175,078,257.84 | | Ending Cash and Cash Equivalents Balance | 770,020,285.54 | 822,843,625.22 | Parent Company Cash Flow Statement In Q1-Q3 2019, parent company net cash flow from operating activities was RMB 50.39 million, also turning positive, with net cash outflows of RMB 53.26 million from investing activities and RMB 272 million from financing activities, primarily for debt repayment, resulting in an ending cash and cash equivalents balance of RMB 467 million Key Parent Company Cash Flow Statement Data (Q1-Q3 2019) | Item | Q1-Q3 2019 (Jan-Sep) (RMB) | Q1-Q3 2018 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 50,389,520.48 | -175,669,271.04 | | Net Cash Flow from Investing Activities | -53,263,000.88 | -86,079,774.21 | | Net Cash Flow from Financing Activities | -271,898,392.56 | 90,409,417.72 | | Ending Cash and Cash Equivalents Balance | 466,760,148.04 | 545,073,699.64 | Explanation of Adjustments for First-Time Adoption of New Accounting Standards Effective January 1, 2019, the company adopted new financial instrument standards, retrospectively adjusting beginning-of-year financial statements by changing the financial asset impairment model to 'expected credit loss' and reclassifying certain financial assets, resulting in a RMB 22.75 million decrease in consolidated retained earnings and a RMB 3.80 million increase in deferred tax assets - The company's financial asset impairment provision method was adjusted from 'incurred loss model' to 'expected credit loss model'[40][43] - The company reclassified some equity investments as 'financial assets measured at fair value through other comprehensive income' (other equity instruments investment) and 'financial assets measured at fair value through profit or loss' (other non-current financial assets)[40][43] Key Impacts of New Financial Instrument Standards on Consolidated Beginning Balance | Adjustment Item | Adjustment Amount (RMB) | | :--- | :--- | | Notes Receivable | -6,929,500.00 | | Accounts Receivable | -23,346,112.74 | | Other Receivables | 3,722,773.44 | | Available-for-sale Financial Assets | -140,000,000.00 | | Other Equity Instruments Investment | 120,000,000.00 | | Other Non-current Financial Assets | 20,000,000.00 | | Deferred Income Tax Assets | 3,802,533.43 | | Retained Earnings | -22,750,938.89 |