海通国际(00665) - 2024 Q1 - 季度业绩

Report Overview This section provides an overview of the Q1 2024 report, including basic information and management's assurances Basic Report Information This section provides basic information on Huaxin Cement Co., Ltd.'s Q1 2024 report, including its unaudited nature, preparation basis, and management's assurance of report authenticity - Huaxin Cement Co., Ltd. (Stock Code: 6655) released its Q1 2024 report[1] - The reporting period is from January 1 to March 31, 2024; financial statements are prepared under Chinese accounting standards and are unaudited[2] - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[3] Key Financial Data and Indicators This section presents the company's key financial performance and position indicators for Q1 2024, highlighting significant changes and their underlying reasons Key Accounting Data and Financial Indicators Huaxin Cement's Q1 2024 operating revenue grew by 6.87% year-on-year, but net profit attributable to shareholders and net profit excluding non-recurring items both declined, with a significant decrease in net cash flow from operating activities Q1 2024 Key Financial Indicators Overview | Indicator | Current Period (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 7,083,601,678 | 6.87 | | Net Profit | 291,984,821 | 3.28 | | Net Profit Attributable to Shareholders of the Listed Company | 177,469,351 | -28.43 | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses | 151,703,644 | -35.09 | | Net Cash Flow from Operating Activities | 106,994,109 | -67.77 | | Basic Earnings Per Share (Yuan/share) | 0.09 | -25.00 | | Diluted Earnings Per Share (Yuan/share) | 0.08 | -33.33 | | Weighted Average Return on Net Assets (%) | 0.61 | decreased by 0.29 percentage points | Q1 2024 End-of-Period Balance Sheet Indicators Overview | Indicator | End of Current Period (Yuan) | End of Previous Year (Yuan) | Change from End of Previous Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 69,240,660,681 | 68,800,268,263 | 0.64 | | Total Equity Attributable to Shareholders of the Listed Company | 29,164,435,662 | 28,932,949,847 | 0.80 | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the quarter amounted to 25.77 million Yuan, primarily including government subsidies, fair value changes of financial assets, and disposal gains/losses of non-current assets Q1 2024 Non-recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -534,441 | | Government Subsidies Recognized in Current Profit/Loss | 36,801,166 | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities Held by Non-financial Enterprises, and from Disposal of Financial Assets and Liabilities | 2,187,279 | | Reversal of Impairment Provisions for Receivables Subject to Separate Impairment Testing | 15,000 | | Other Non-operating Income and Expenses Apart from the Above | -2,202,103 | | Less: Income Tax Impact | 7,980,388 | | Impact on Minority Interests (After Tax) | 2,520,806 | | Total | 25,765,707 | Changes and Reasons for Key Accounting Data and Financial Indicators Net profit attributable to shareholders, excluding non-recurring items, decreased by 35.09% due to declining profitability in some wholly-owned subsidiaries and increased share of profits from joint ventures; net cash flow from operating activities fell by 67.77% mainly due to increased working capital investment in inventory Changes and Reasons for Key Financial Indicators | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-recurring Gains and Losses | -35.09 | Declining profitability in some wholly-owned subsidiaries, increased share of profits from joint ventures | | Net Cash Flow from Operating Activities | -67.77 | Increased working capital investment in inventory | Shareholder Information This section details the company's shareholder structure, including the total number of ordinary shareholders and the shareholding of the top ten shareholders Total Number of Ordinary Shareholders and Top Ten Shareholders' Shareholding As of March 31, 2024, the company had 49,123 ordinary shareholders, with Hong Kong Securities Clearing Company Nominees Limited, HOLCHIN B.V., and Huaxin Group Co., Ltd. as the top three shareholders - As of March 31, 2024, the company had 49,115 A-share shareholders and 8 H-share registered shareholders, totaling 49,123 ordinary shareholders[7] Top Ten Shareholders' Shareholding at End of Reporting Period | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Hong Kong Securities Clearing Company Nominees Limited | Overseas Legal Person | 734,719,919 | 35.34 | | HOLCHIN B.V. | Overseas Legal Person | 451,333,201 | 21.71 | | Huaxin Group Co., Ltd. | State-owned Legal Person | 338,060,739 | 16.26 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 23,624,862 | 1.14 | | China Merchants Bank Co., Ltd. - SSE Dividend ETF | Other | 19,081,692 | 0.92 | | National Social Security Fund 413 Portfolio | Other | 15,900,000 | 0.76 | | National Social Security Fund 601 Portfolio | Other | 13,527,856 | 0.65 | | Agricultural Bank of China Co., Ltd. - ICBC Credit Suisse Innovation Power Stock Fund | Other | 12,900,000 | 0.62 | | ICBC Credit Suisse Fund - China Life Insurance Co., Ltd. - Dividend - ICBC Credit Suisse Fund China Life Equity Balanced Stock Portfolio Single Asset Management Plan (Available for Sale) | Other | 11,335,516 | 0.55 | | China Railway Wuhan Bureau Group Co., Ltd. | Unknown | 11,289,600 | 0.54 | - The company is unaware of any related party relationships or concerted actions among the aforementioned shareholders[9] Other Reminders This section addresses any other important operational information during the reporting period that investors should be aware of Other Important Information Regarding the Company's Operating Performance During the Reporting Period Requiring Investor Attention During the reporting period, the company had no other significant operating information requiring special attention from investors - The company states there is no other significant operating information during the reporting period requiring investor attention[10] Quarterly Financial Statements This section contains the company's unaudited consolidated quarterly financial statements, including the balance sheet, income statement, and cash flow statement Type of Audit Opinion The quarterly financial statements for this period are unaudited - The quarterly financial statements for this reporting period are unaudited[11] Financial Statements This section presents Huaxin Cement Co., Ltd.'s unaudited consolidated financial statements for Q1 2024, including the balance sheet, income statement, and cash flow statement, detailing the company's financial position, operating results, and cash flows Consolidated Balance Sheet As of March 31, 2024, total assets were 69.24 billion Yuan, a slight increase from the end of the previous year; total current assets were 15.73 billion Yuan, total non-current assets were 53.51 billion Yuan, total liabilities were 35.87 billion Yuan, and total owners' equity was 33.37 billion Yuan Consolidated Balance Sheet Key Data (As of March 31, 2024) | Item | March 31, 2024 (Yuan) | December 31, 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 69,240,660,681 | 68,800,268,263 | 0.64 | | Total Current Assets | 15,731,204,056 | 15,219,588,022 | 3.36 | | Total Non-current Assets | 53,509,456,625 | 53,580,680,241 | -0.13 | | Total Liabilities | 35,873,699,115 | 35,505,385,821 | 1.04 | | Total Owners' Equity | 33,366,961,566 | 33,294,882,442 | 0.22 | - Cash and cash equivalents increased by 8.26% from 5.85 billion Yuan at the end of 2023 to 6.33 billion Yuan as of March 31, 2024[12] - Accounts receivable increased by 34.22% from 2.26 billion Yuan at the end of 2023 to 3.03 billion Yuan as of March 31, 2024[12] Consolidated Income Statement In Q1 2024, total operating revenue increased by 6.87% year-on-year to 7.08 billion Yuan, but net profit attributable to parent company shareholders decreased by 28.43% to 177 million Yuan, mainly due to a significant increase in financial expenses and reduced investment income Consolidated Income Statement Key Data (Q1 2024 vs. Q1 2023) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 7,083,601,678 | 6,628,435,263 | 6.87 | | Total Operating Costs | 6,770,044,998 | 6,273,661,701 | 7.91 | | Financial Expenses | 182,064,693 | 68,572,821 | 165.52 | | Investment Income | -6,941,845 | 30,821,370 | -122.52 | | Net Profit | 291,984,821 | 282,721,516 | 3.28 | | Net Profit Attributable to Parent Company Shareholders | 177,469,351 | 247,979,284 | -28.43 | | Basic Earnings Per Share (Yuan/share) | 0.09 | 0.12 | -25.00 | - Financial expenses significantly increased by 165.52% year-on-year, primarily due to higher interest expenses[14] - R&D expenses significantly increased by 191.70% year-on-year, from 11.65 million Yuan to 33.98 million Yuan[14] Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities significantly decreased by 67.77% year-on-year to 107 million Yuan; net cash flow from investing activities was -269 million Yuan, a reduced outflow compared to the prior year; net cash flow from financing activities was 678 million Yuan, a year-on-year decrease Consolidated Cash Flow Statement Key Data (Q1 2024 vs. Q1 2023) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 106,994,109 | 331,923,337 | -67.77 | | Net Cash Flow from Investing Activities | -268,956,676 | -1,121,597,464 | 76.02 (Reduced Outflow) | | Net Cash Flow from Financing Activities | 678,111,238 | 1,084,213,674 | -37.45 | | Net Increase in Cash and Cash Equivalents | 511,231,525 | 266,787,755 | 91.63 | - Cash paid for goods and services increased by 2.80% year-on-year, reaching 4.42 billion Yuan[16] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets decreased by 49.48% year-on-year, indicating a slowdown in capital expenditure[17] Review and Corporate Governance This section covers the review of unaudited quarterly results by the Audit Committee and the company's adherence to corporate governance codes V. Review of Unaudited Quarterly Results The company's audit committee has reviewed the quarterly results for the three months ended March 31, 2024, and is responsible for overseeing financial reporting, risk management, and internal control systems - The Audit Committee has reviewed the quarterly results for the three months ended March 31, 2024, as contained in this announcement[20] - The Audit Committee is responsible for reviewing and overseeing the Group's financial reporting process, risk management, and internal control systems[20] VI. Corporate Governance Code During the reporting period, the company consistently complied with the principles and code provisions of the Corporate Governance Code in Appendix C1 of the SEHK Listing Rules - During the reporting period, the company consistently adhered to the principles and code provisions of the Corporate Governance Code in Appendix C1 of the SEHK Listing Rules[21] - As of the announcement date, the Board of Directors includes executive directors, non-executive directors, and independent non-executive directors[21]