凯龙高科(300912) - 2024 Q3 - 季度财报

Financial Performance and Position The company's Q1-Q3 2024 financial performance significantly declined, marked by substantial losses and operational shifts Key Financial Data Q1-Q3 2024 saw a significant performance decline, with revenue down 41.51% and a CNY 116.23 million net loss Key Financial Data Overview | Financial Indicator | Q1-Q3 2024 (CNY) | YoY Change | As of Period End (CNY) | Change from Year Start | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 463,853,489.40 | -41.51% | - | - | | Net Profit Attributable to Shareholders | -116,228,904.13 | -990.83% | - | - | | Net Profit after Non-recurring Items | -111,532,136.24 | -521.85% | - | - | | Net Cash Flow from Operating Activities | -15,873,428.97 | -135.57% | - | - | | Basic EPS (CNY/share) | -1.01 | -1,022.22% | - | - | | Weighted Average ROE | -15.41% | -14.07 p.p. | - | - | | Total Assets | - | - | 1,462,521,198.40 | -14.17% | | Equity Attributable to Shareholders | - | - | 685,603,247.20 | -15.60% | Non-recurring Gains and Losses Non-recurring items for Q1-Q3 2024 resulted in a net loss of CNY 4.70 million, driven by fair value changes Non-recurring Items | Item | Q1-Q3 2024 Amount (CNY) | Q3 2024 Amount (CNY) | | :--- | :--- | :--- | | Government grants | 7,332,946.10 | 1,421,667.22 | | Fair value changes in financial assets/liabilities | -13,612,429.56 | 5,258,044.54 | | Other non-operating income and expenses | 760,038.17 | 155,653.32 | | Total Non-recurring Gains/Losses | -4,696,767.89 | 5,804,892.68 | Analysis of Financial Changes Operational shifts drove significant financial changes, including decreased revenue, increased sales expenses, and fair value losses Balance Sheet Item Changes | Balance Sheet Item | Change | Reason | | :--- | :--- | :--- | | Other Receivables | -64.44% | Recovery of court-frozen funds | | Construction in Progress | +147.17% | Increase in miscellaneous ongoing projects | | Notes Payable | -40.20% | Decrease due to matured notes | | Taxes Payable | -86.99% | Decrease in VAT payable | | Treasury Stock | +83.01% | Repurchase of common stock | Income Statement Item Changes | Income Statement Item | Change | Reason | | :--- | :--- | :--- | | Operating Revenue | -41.51% | Decrease in sales | | Sales Expenses | +38.15% | Increased market expansion efforts | | Fair Value Change Gain/Loss | -650.56% | Decrease in the fair value of stock investments | | Credit Impairment Loss | +168.14% | Reversal of bad debt provisions due to reduced receivables | | Non-operating Income | +357.09% | Compensation from a successful lawsuit | Cash Flow Item Changes | Cash Flow Item | Change | Reason | | :--- | :--- | :--- | | Taxes and Levies Paid | +106.28% | Payment of property and land taxes for a subsidiary capital injection | | Cash Paid for Other Investing Activities | +100.00% | Repurchase of common stock | | Cash Received from Investments | +95.94% | Subsidiary received investment funds | Shareholder Information This section details the company's shareholder structure, including top holders and restricted share movements Top Shareholders The company had 11,575 common shareholders, with Zang Zhicheng holding 31.87%, and a 1.06% share repurchase Top Ten Shareholders | Shareholder Name | Nature | Holding (%) | Total Shares | Restricted Shares | | :--- | :--- | :--- | :--- | :--- | | Zang Zhicheng | Individual | 31.87% | 36,650,000 | 27,487,500 | | Wuxi Kaicheng Investment | Non-state-owned legal entity | 5.65% | 6,500,000 | 0 | | Guo Wei | Individual | 3.69% | 4,245,487 | 0 | | Zang Mengdie | Individual | 2.81% | 3,230,000 | 66,000 | | Zang Yufen | Individual | 1.72% | 1,980,000 | 18,000 | | Zang Xiaomei | Individual | 1.70% | 1,950,000 | 0 | | Suzhou Xinlianke Venture Capital | Non-state-owned legal entity | 1.66% | 1,903,800 | 0 | | Changzhou Housse Investment | State-owned legal entity | 0.88% | 1,006,100 | 0 | | Xu Cuidong | Individual | 0.87% | 998,700 | 0 | | Wuxi Jintou Holdings | Non-state-owned legal entity | 0.75% | 859,080 | 0 | - Zang Zhicheng, Zang Mengdie, Zang Xiaomei, and Zang Yufen are parties acting in concert[10] - Zang Zhicheng is also the actual controller of Wuxi Kaicheng Investment Partnership (Limited Partnership)[10] Changes in Restricted Shares During the period, 957,100 restricted shares were released, primarily from the equity incentive plan Restricted Share Movements | Shareholder Name | Initial Restricted Shares | Released This Period | Added This Period | Final Restricted Shares | | :--- | :--- | :--- | :--- | :--- | | Zang Zhicheng | 27,487,500 | 0 | 0 | 27,487,500 | | Ye Jun | 620,000 | 155,000 | 0 | 465,000 | | Zeng Rui | 100,000 | 25,000 | 0 | 75,000 | | Li Huaichao | 100,000 | 25,000 | 0 | 75,000 | | Liu Dewen | 100,000 | 25,000 | 0 | 75,000 | | Zang Mengdie | 110,000 | 44,000 | 0 | 66,000 | | Total | 30,121,500 | 957,100 | 4,125 | 29,168,525 | Other Significant Events The company disclosed two significant events: restricted stock incentive plan vesting and an unsuccessful subsidiary sale attempt - Share Incentive Plan Vesting: On September 30, 2024, the company completed the first vesting period of its 2023 restricted stock incentive plan, releasing 1,125,600 shares for 84 recipients, representing approximately 0.9789% of total share capital[13][14] - Unsuccessful Asset Sale: The company's attempt to sell 100% equity in its wholly-owned subsidiary, Jiangsu Xiling Precision Manufacturing Co., Ltd., through a public listing on the Jiangsu Equity Exchange, failed to attract qualified bidders during the September 9-23, 2024 period, with an initial asking price of CNY 100.83 million[15] Quarterly Financial Statements This section presents the company's consolidated quarterly financial statements, including balance sheet, income, and cash flow Consolidated Balance Sheet As of September 30, 2024, total assets decreased by 14.17% to CNY 1.46 billion, with equity also down Consolidated Balance Sheet Summary | Item | End of Q3 2024 (CNY) | Start of 2024 (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Current Assets | 673,428,391.97 | 850,879,943.46 | -20.86% | | Total Non-current Assets | 789,092,806.43 | 852,996,302.67 | -7.49% | | Total Assets | 1,462,521,198.40 | 1,703,876,246.13 | -14.17% | | Total Current Liabilities | 704,328,561.94 | 843,520,890.33 | -16.50% | | Total Non-current Liabilities | 44,490,719.88 | 48,610,017.25 | -8.47% | | Total Liabilities | 748,819,281.82 | 892,130,907.58 | -16.06% | | Equity Attributable to Parent | 685,603,247.20 | 812,293,285.28 | -15.60% | | Total Equity | 713,701,916.58 | 811,745,338.55 | -12.08% | Consolidated Income Statement (YTD) Q1-Q3 2024 total operating revenue decreased by 41.51% to CNY 463.85 million, resulting in a net loss Consolidated Income Statement Summary | Item | Q1-Q3 2024 (CNY) | Q1-Q3 2023 (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 463,853,489.40 | 793,079,051.14 | -41.51% | | Total Operating Cost | 583,690,688.01 | 797,374,501.75 | -26.80% | | Operating Profit | -122,987,756.72 | -10,235,921.90 | -1099.96% | | Total Profit | -122,286,825.93 | -10,322,640.64 | -1084.66% | | Net Profit Attributable to Parent | -116,228,904.13 | -10,655,065.74 | -990.83% | Consolidated Cash Flow Statement (YTD) Q1-Q3 2024 operating cash flow was a net outflow of CNY 15.87 million, leading to an overall cash decrease Consolidated Cash Flow Statement Summary | Item | Q1-Q3 2024 (CNY) | Q1-Q3 2023 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -15,873,428.97 | 44,630,803.61 | | Net Cash Flow from Investing Activities | -26,623,980.34 | 118,006.00 | | Net Cash Flow from Financing Activities | 37,506,077.90 | 13,155,104.75 | | Net Increase in Cash and Cash Equivalents | -4,991,331.41 | 57,910,876.75 |