世纪天鸿(300654) - 2024 Q3 - 季度财报

Key Financial Data Key Accounting Data and Financial Indicators The company achieved year-over-year growth in operating revenue and net profit attributable to shareholders for Q3 2024 and YTD, with net cash flow from operating activities significantly increasing by 400.33% Key Financial Indicators for Q3 2024 and Year-to-Date | Indicator | Current Period (Q3 2024) | YoY Change (Current Period) | Year-to-Date (YTD 2024) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 225,298,882.10 | 2.75% | 388,272,180.22 | 5.26% | | Net Profit Attributable to Shareholders of Listed Company (CNY) | 23,918,634.58 | 0.24% | 31,482,118.74 | 0.30% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) (CNY) | 22,337,986.10 | -12.90% | 27,431,668.02 | -9.53% | | Net Cash Flow from Operating Activities (CNY) | - | - | 37,903,855.01 | 400.33% | | Basic Earnings Per Share (CNY/share) | 0.065 | 0.00% | 0.086 | 0.00% | | Diluted Earnings Per Share (CNY/share) | 0.065 | 0.00% | 0.086 | 0.00% | | Weighted Average Return on Net Assets | 2.87% | -0.15% | 3.81% | -0.19% | | Total Assets (CNY) | 1,182,157,549.61 | 5.22% | 1,182,157,549.61 | 5.22% | | Total Equity Attributable to Shareholders of Listed Company (CNY) | 841,937,814.33 | 2.53% | 841,937,814.33 | 2.53% | - The company redefined non-recurring gains and losses for Jan-Sep 2023, reducing net non-recurring gains and losses attributable to common shareholders by CNY 717,290.07[2] Non-Recurring Gains and Losses Items and Amounts The company's total non-recurring gains and losses were CNY 1,580,648.48 for the current period and CNY 4,050,450.72 year-to-date, primarily from non-current asset disposals, government grants, and fair value changes of financial assets and liabilities Non-Recurring Gains and Losses Items for Q3 2024 and Year-to-Date | Item | Amount for Current Period (CNY) | Amount Year-to-Date (CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -446,076.11 | -446,076.11 | | Government Grants Recognized in Current Profit/Loss | 20,004.52 | 100,069.85 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities Held by Non-Financial Enterprises | 2,626,742.13 | 5,585,915.55 | | Other Non-Operating Income and Expenses Excluding the Above | -89,871.30 | 9,608.02 | | Other Gains/Losses Items Meeting the Definition of Non-Recurring Gains/Losses | 0.00 | 145,213.17 | | Less: Income Tax Impact | 541,506.97 | 1,329,977.59 | | Minority Interest Impact (After Tax) | -11,356.21 | 14,302.17 | | Total | 1,580,648.48 | 4,050,450.72 | - Other non-recurring gains and losses of CNY 145,213.17 primarily represent handling fee refunds for withholding individual income tax[4] Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, the company experienced significant changes across its balance sheet, income statement, and cash flow statement, driven by factors such as wealth management product purchases, increased paper procurement, and changes in investment and financing activities Changes in Consolidated Balance Sheet Items (Period-End vs. Period-Beginning) | Item | Period-End Balance (CNY) | Period-Beginning Balance (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 171,349,805.47 | 396,497,250.00 | -56.78% | Due to purchase of wealth management products | | Financial Assets Held for Trading | 434,649,829.91 | 200,413,453.15 | 116.88% | Due to purchase of wealth management products | | Inventories | 70,365,256.35 | 29,603,844.12 | 137.69% | Due to increased paper procurement | | Non-Current Assets Due Within One Year | 10,881,074.68 | N/A | 100.00% | Due to reclassification of large-denomination certificates of deposit | | Other Current Assets | 31,517,598.44 | 11,175,344.39 | 182.03% | Due to increased purchase of large-denomination certificates of deposit | | Construction in Progress | 236,726.50 | 74,424.78 | 218.07% | Due to increased office renovation | | Development Expenditures | 1,429,312.41 | N/A | 100.00% | Due to development of digital resource platform | | Long-Term Prepaid Expenses | 56,351.27 | N/A | 100.00% | Due to office renovation | | Other Non-Current Assets | 13,223,706.17 | 23,841,059.33 | -44.53% | Due to reclassification of large-denomination certificates of deposit | | Notes Payable | 44,640,992.32 | N/A | 100.00% | Due to paper procurement business | | Contract Liabilities | 5,024,438.08 | 3,142,840.11 | 59.87% | Due to increased advance receipts for goods | | Employee Benefits Payable | 5,537,004.83 | 13,164,095.62 | -57.94% | Due to accrual of prior year-end bonuses at period beginning | | Non-Current Liabilities Due Within One Year | 1,014,313.80 | 1,749,763.45 | -42.03% | Due to subsidiary changing leased premises | | Other Current Liabilities | 470.94 | 7,884.38 | -94.03% | Due to decrease in output VAT to be transferred | | Deferred Income Tax Liabilities | 2,063,641.87 | 582,293.42 | 254.40% | Due to increase in fair value of wealth management products | Changes in Consolidated Income Statement Items (Jan-Sep 2024 vs. Jan-Sep 2023) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Investment Income (Losses indicated by "-") | 224,712.99 | 1,538,619.06 | -85.40% | Due to fewer matured wealth management products compared to prior period | | Asset Impairment Losses (Losses indicated by "-") | -8,006,661.38 | -2,000,113.90 | 300.31% | Due to provision for inventory depreciation | | Gains from Asset Disposal (Losses indicated by "-") | 1,060.82 | 81,309.81 | -98.70% | Due to decreased asset disposals | | Non-Operating Income | 211,415.77 | 129,181.96 | 63.66% | Due to increased salvage income from scrapped assets | | Non-Operating Expenses | 593,577.70 | 5,212,182.87 | -88.61% | Due to decreased book donations | Changes in Consolidated Cash Flow Statement Items (Jan-Sep 2024 vs. Jan-Sep 2023) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 37,903,855.01 | 7,575,842.20 | 400.33% | Due to increased collections in the same period | | Net Cash Flow from Investing Activities | -247,132,736.36 | -87,003,809.43 | -184.05% | Due to increased investment in wealth management products | | Net Cash Flow from Financing Activities | -15,772,918.51 | -9,829,909.40 | -60.46% | Due to decreased capital contributions and increased dividend payments | Shareholder Information Total Number of Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the reporting period end, the company had 29,806 common shareholders, with Xinjiang Zhihong Education Investment Co. Ltd. holding the largest stake at 46.72%, part of which is pledged, and significant related party relationships exist among major shareholders - As of the end of the reporting period, the total number of common shareholders was 29,806[7] Top 10 Shareholders' Holdings (As of Reporting Period End) | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Share Status | Number of Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Xinjiang Zhihong Education Investment Co. Ltd. | Domestic Non-State-Owned Legal Person | 46.72% | 171,031,555.00 | 26,497,555.00 | Pledged | 70,138,000.00 | | Ren Lun | Domestic Natural Person | 3.57% | 13,067,900.00 | 9,800,925.00 | Pledged | 2,410,500.00 | | Li Yuxin | Domestic Natural Person | 1.00% | 3,666,992.00 | 0 | N/A | 0 | | Zhang Xuejun | Domestic Natural Person | 0.51% | 1,882,971.00 | 1,412,228.00 | N/A | 0 | | Yu Baozeng | Domestic Natural Person | 0.46% | 1,693,914.00 | 0 | N/A | 0 | | Zhang Lijie | Domestic Natural Person | 0.40% | 1,468,663.00 | 1,198,997.00 | N/A | 0 | | Goldman Sachs Co. Ltd. | Overseas Legal Person | 0.37% | 1,366,898.00 | 0 | N/A | 0 | | Ba Xuefang | Domestic Natural Person | 0.36% | 1,300,014.00 | 0 | N/A | 0 | | Industrial Bank Co., Ltd. - Green Hongjing Bond Fund | Other | 0.32% | 1,175,200.00 | 0 | N/A | 0 | | Shanghai Qushi Asset Management Co., Ltd. - Qushi Dividend Growth Fund No. 1 | Other | 0.29% | 1,044,600.00 | 0 | N/A | 0 | - Key shareholder relationships include Ren Zhihong, actual controller of Xinjiang Zhihong Education Investment Co. Ltd., and Ren Lun (father-son); Zhang Xuejun serves as an executive director in a subsidiary of Xinjiang Zhihong Education Investment Co. Ltd.; Zhang Lijie is a director at Xinjiang Zhihong Education Investment Co. Ltd[8] - Xinjiang Zhihong Education Investment Co. Ltd. holds a total of 171,031,555 shares through ordinary and credit securities accounts[8] Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[9] Changes in Restricted Shares During the reporting period, the total number of restricted shares slightly decreased, with major shareholders' restricted shares primarily due to lock-up periods for directors, supervisors, senior management, and post-IPO restrictions, while Yu Baozeng and Zhai Weiquan's shares were released Changes in Restricted Shares (As of Reporting Period End) | Shareholder Name | Restricted Shares at Period Beginning | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Reason for Restriction | Proposed Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | | Xinjiang Zhihong Education Investment Co. Ltd. | 26,497,555 | 0 | 0 | Restricted shares after initial public offering | Not transferable within 36 months from the end of issuance | | Ren Lun | 9,800,925 | 0 | 0 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Zhang Xuejun | 1,353,476 | 0 | 58,752 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Zhang Lijie | 1,198,997 | 0 | 0 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Wang Kai | 36,133 | 0 | 0 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Yang Kai | 530,941 | 0 | 58,752 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Shan Jingyi | 404,665 | 0 | 72,675 | Shares locked by Directors, Supervisors, and Senior Management | 75% of shares held are locked annually during their tenure as Directors, Supervisors, and Senior Management | | Yu Baozeng | 1,693,914 | 1,693,914 | 0 | N/A | N/A | | Zhai Weiquan | 316,997 | 316,997 | 0 | N/A | N/A | | Total | 41,833,603 | 2,010,911 | 190,179 | N/A | N/A | Other Significant Matters Changes in Registered Capital, Amendments to Articles of Association, and Completion of Business Registration Changes The company's Board of Directors approved changes to registered capital and articles of association on August 22, 2024, with business registration completed and a new business license obtained on September 9, 2024 - The company's Board of Directors approved the 'Proposal on Changing Registered Capital, Amending the Articles of Association, and Completing Business Registration Changes' on August 22, 2024[11] - The company completed relevant business registration and filing procedures on September 9, 2024, and obtained a new business license from Zibo Administrative Approval Service Bureau[11] Quarterly Financial Statements Financial Statements This section presents the company's consolidated balance sheet as of September 30, 2024, and consolidated income and cash flow statements for the year-to-date, detailing financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2024, total assets were CNY 1,182,157,549.61, a 5.22% increase from the beginning of the period, with total current assets at CNY 1,030,005,084.18 and total liabilities at CNY 325,207,358.83 Key Consolidated Balance Sheet Data (As of September 30, 2024) | Item | Period-End Balance (CNY) | Period-Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 1,182,157,549.61 | 1,123,506,725.45 | | Total Current Assets | 1,030,005,084.18 | 954,473,252.73 | | Total Non-Current Assets | 152,152,465.43 | 169,033,472.72 | | Total Liabilities | 325,207,358.83 | 287,365,330.69 | | Total Equity | 856,950,190.78 | 836,141,394.76 | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2024, the company achieved total operating revenue of CNY 388,272,180.22, a 5.26% increase, with net profit attributable to parent company shareholders growing by 0.30% to CNY 31,482,118.74 Key Consolidated Income Statement Data (Jan-Sep 2024) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 388,272,180.22 | 368,866,168.71 | | Total Operating Costs | 343,537,829.96 | 326,683,080.41 | | Operating Profit | 45,302,489.62 | 49,319,390.15 | | Total Profit | 44,920,327.69 | 44,236,389.24 | | Net Profit | 33,355,104.40 | 32,277,282.45 | | Net Profit Attributable to Parent Company Shareholders | 31,482,118.74 | 31,387,122.01 | | Basic Earnings Per Share (CNY) | 0.086 | 0.086 | | Diluted Earnings Per Share (CNY) | 0.086 | 0.086 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2024, net cash flow from operating activities significantly increased by 400.33% to CNY 37,903,855.01, while investing activities saw a substantial outflow due to increased wealth management product investments Key Consolidated Cash Flow Statement Data (Jan-Sep 2024) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 37,903,855.01 | 7,575,842.20 | | Net Cash Flow from Investing Activities | -247,132,736.36 | -87,003,809.43 | | Net Cash Flow from Financing Activities | -15,772,918.51 | -9,829,909.40 | | Net Increase in Cash and Cash Equivalents | -225,001,799.86 | -89,257,876.63 | | Cash and Cash Equivalents at Period End | 171,349,805.47 | 259,984,652.45 | Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2024 The company did not adopt new accounting standards from 2024 requiring adjustments to financial statement items at the beginning of the first year of implementation - The company did not make adjustments to financial statement items at the beginning of the first year of adopting new accounting standards from 2024[18] Audit Report This quarterly report is unaudited - The company's third-quarter report is unaudited[18]