新余国科(300722) - 2024 Q3 - 季度财报

I. Key Financial Data Key Accounting Data and Financial Indicators In the first three quarters of 2024, the company's operating revenue grew by 18.08% and net profit attributable to shareholders increased by 5.98%; Q3 saw slower growth at 2.05% and 0.07% respectively, while operating cash flow significantly increased by 991.74% Key Accounting Data and Financial Indicators | Indicator | Year-to-Date | YTD YoY Change | Current Period | Current Period YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 318,541,834.47 | 18.08% | 98,891,305.57 | 2.05% | | Net Profit Attributable to Shareholders (RMB) | 65,752,934.87 | 5.98% | 22,065,012.91 | 0.07% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 63,776,629.54 | 3.26% | 21,600,923.66 | 0.65% | | Net Cash Flow from Operating Activities (RMB) | 17,640,955.05 | 991.74% | -- | -- | | Basic Earnings Per Share (RMB/share) | 0.24 | 9.09% | 0.08 | 0.00% | | Total Assets (RMB) | 839,548,898.11 | 9.79% (vs. prior year-end) | | | | Total Equity Attributable to Shareholders (RMB) | 618,830,164.99 | 5.50% (vs. prior year-end) | | | Non-recurring Gains and Losses and Amounts Year-to-date, the company's total non-recurring gains and losses amounted to RMB 1.98 million, primarily from RMB 2.26 million in government grants Non-recurring Gains and Losses and Amounts | Item | Year-to-Date Amount (RMB) | Notes | | :--- | :--- | :--- | | Government Grants Included in Current Profit/Loss | 2,262,116.78 | Primary source of non-recurring gains/losses | | Gains/Losses from Disposal of Non-current Assets | -29,872.30 | - | | Other Non-operating Income and Expenses | 7,290.11 | (37,161.44 - 29,872.30) | | Income Tax Impact | -292,637.03 | - | | Impact on Minority Interests (After Tax) | -463.56 | - | | Total | 1,976,305.33 | - | Analysis of Major Financial Indicator Changes During the reporting period, several financial indicators showed significant changes, including substantial increases in accounts receivable and construction in progress reflecting collection cycles and capital expenditure, a corresponding rise in accounts payable, operating costs growing faster than revenue, and a nearly tenfold year-over-year increase in net operating cash flow Balance Sheet Item Analysis Key balance sheet changes include a 71.63% increase in accounts receivable due to Q4 collections, a 119.04% rise in construction in progress from automation projects, a 100.40% increase in accounts payable from material purchases, and an 85.77% decrease in capital reserves due to capital increase from reserves - Accounts receivable increased by 71.63% from the beginning of the year, primarily due to the concentration of cash collection in the fourth quarter[5] - Construction in progress increased by 119.04% from the beginning of the year, mainly due to increased investment in technical transformation projects such as automated production lines for tubular pyrotechnic products[5] - Accounts payable increased by 100.40% from the beginning of the year, primarily due to an increase in material procurement payments owed at the end of the reporting period[5] - Capital reserves decreased by 85.77% from the beginning of the year, mainly due to the company converting RMB 46.13 million of capital reserves into share capital[5] Income Statement Item Analysis Key income statement changes include a 31.91% increase in operating costs due to higher sales and product mix, a 44.86% decrease in financial expenses from increased bank interest income, and a 97.55% significant decrease in non-operating expenses due to reduced external donations - Operating costs increased by 31.91% year-over-year, attributed to sales volume growth and changes in product mix leading to higher unit sales costs[5] - Financial expenses decreased by 44.86% year-over-year, primarily due to an increase in the company's bank deposit interest income during the reporting period[5] - Non-operating expenses decreased by 97.55% year-over-year, mainly due to a reduction in the company's external donations during the reporting period[6] Cash Flow Statement Item Analysis Net cash flow from operating activities surged by 991.74% year-over-year to RMB 17.64 million, driven by a RMB 27.76 million increase in operating cash inflows, exceeding the RMB 11.73 million increase in outflows - Net cash flow from operating activities increased by 991.74% year-over-year, primarily because the increase in cash inflows from operating activities exceeded the increase in outflows during the reporting period[6] II. Shareholder Information Common Shareholder Holdings As of the end of the reporting period, the company had 22,891 common shareholders; the top two, Jiangxi Military Industry Holding Group and Jiangxi Agricultural Development Group, both state-owned, collectively hold over 65% and are related parties - The total number of common shareholders at the end of the reporting period was 22,891[7] Top Ten Common Shareholder Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Jiangxi Military Industry Holding Group Co., Ltd. | State-owned Legal Entity | 37.60% | 104,069,417 | | Jiangxi Agricultural Development Group Co., Ltd. | State-owned Legal Entity | 27.73% | 76,754,811 | | Xinyu Kexin Investment Management Center (Limited Partnership) | Domestic Non-state-owned Legal Entity | 2.59% | 7,177,319 | | Xinyu Guohui Investment Management Center (Limited Partnership) | Domestic Non-state-owned Legal Entity | 1.23% | 3,396,773 | | Jiangxi Steel Wire Factory Co., Ltd. | State-owned Legal Entity | 0.90% | 2,498,494 | - Jiangxi Agricultural Development Group simultaneously holds all shares of the company's controlling shareholder, Military Industry Group, and shareholder Jiangxi Steel Wire Factory Co., Ltd., constituting an associated relationship[8] Changes in Restricted Shares During the reporting period, there were no changes in the company's restricted shares - The company had no changes in restricted shares during this reporting period[9] III. Other Significant Matters Board of Directors and Supervisory Board Re-election and Senior Management Appointment In July 2024, the company completed the re-election of its Fourth Board of Directors and Supervisory Board, and appointed new senior management, including key positions such as Chairman, General Manager, CFO, and Board Secretary - The company completed the re-election of its Fourth Board of Directors and Supervisory Board on July 15, 2024[9] - On July 16, 2024, Mr. Yuan Yougen was elected Chairman, Mr. Liu Aiping was appointed General Manager, and other senior management personnel were appointed[9] IV. Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2024, total assets were RMB 840 million, up 9.79% from the beginning of the year; total liabilities were RMB 221 million, up 24.66%; and total equity attributable to the parent company was RMB 619 million, up 5.50% Consolidated Balance Sheet Summary | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 839,548,898.11 | 764,654,294.64 | +9.79% | | Total Liabilities | 220,784,825.96 | 177,105,291.49 | +24.66% | | Total Equity Attributable to Parent Company Shareholders | 618,830,164.99 | 586,567,177.75 | +5.50% | Consolidated Income Statement In the first three quarters of 2024, the company achieved total operating revenue of RMB 319 million, up 18.08% year-over-year; total operating costs were RMB 245 million, up 23.16%; and net profit attributable to parent company shareholders was RMB 65.75 million, up 5.98% Consolidated Income Statement Summary | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 318,541,834.47 | 269,769,736.66 | +18.08% | | II. Total Operating Costs | 245,128,349.96 | 199,025,292.73 | +23.16% | | III. Operating Profit | 72,551,995.77 | 69,868,737.64 | +3.84% | | IV. Total Profit | 72,559,284.91 | 68,676,252.38 | +5.65% | | Net Profit Attributable to Parent Company Shareholders | 65,752,934.87 | 62,043,359.52 | +5.98% | Consolidated Cash Flow Statement In the first three quarters of 2024, net cash flow from operating activities was RMB 17.64 million, a 991.74% year-over-year increase; net cash outflow from investing activities was RMB 10.92 million, and from financing activities was RMB 37.52 million; period-end cash and equivalents were RMB 170 million, a RMB 30.80 million decrease from the beginning of the period Consolidated Cash Flow Statement Summary | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 17,640,955.05 | 1,615,858.60 | +991.74% | | Net Cash Flow from Investing Activities | -10,916,373.85 | -11,472,271.29 | -4.85% | | Net Cash Flow from Financing Activities | -37,523,959.20 | -29,764,410.30 | -26.07% | | Net Increase in Cash and Cash Equivalents | -30,799,378.00 | -39,620,822.99 | Not applicable |