凯腾精工(871553) - 2024 Q3 - 季度财报

Important Notice This section provides essential disclaimers and assurances regarding the report's content and audit status Important Notice and Audit Statement Directors, supervisors, and senior management assure report accuracy, noting it is unaudited and forward-looking statements are not commitments - The company's directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content[1] - This quarterly report has not been audited by an accounting firm[1][2] - There are no instances where directors, supervisors, or senior management object to the quarterly report's content or cannot guarantee its truthfulness, accuracy, and completeness[2] - No directors were absent from the board meeting that reviewed the quarterly report[2] Company Profile This section presents key financial data, non-recurring gains and losses, and details of share capital and major shareholders Key Financial Data Total assets grew 5.11%, but net profit attributable to shareholders declined 42.24% due to lower product prices, while operating cash flow improved 828.50% Key Data from Consolidated Balance Sheet as of September 30, 2024 | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 613,147,247.77 | 583,349,587.06 | 5.11% | | Net Assets Attributable to Shareholders of Listed Company | 339,713,884.72 | 342,913,319.98 | -0.93% | | Asset-Liability Ratio (Consolidated) | 34.80% | 30.57% | - | Key Data from Consolidated Income Statement for January-September 2024 | Item | Jan-Sep 2024 (RMB) | Jan-Sep 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 323,474,263.78 | 308,361,495.83 | 4.90% | | Net Profit Attributable to Shareholders of Listed Company | 11,169,610.74 | 19,337,352.77 | -42.24% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | 8,973,392.12 | 15,772,021.54 | -43.11% | | Net Cash Flow from Operating Activities | 36,405,759.90 | -4,997,363.94 | 828.50% | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.13 | -38.46% | Key Data from Consolidated Income Statement for Q3 2024 | Item | Jul-Sep 2024 (RMB) | Jul-Sep 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 116,781,094.83 | 115,088,763.72 | 1.47% | | Net Profit Attributable to Shareholders of Listed Company | 4,816,789.95 | 8,849,372.78 | -45.57% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-recurring Gains and Losses | 4,250,855.65 | 8,710,858.99 | -51.20% | | Net Cash Flow from Operating Activities | 15,648,955.25 | 7,170,923.89 | 118.23% | | Basic Earnings Per Share (RMB/share) | 0.03 | 0.06 | -50.00% | - Net profit decreased by 33.24% year-on-year, primarily due to lower selling prices of main products in the current reporting period, leading to a decrease in gross profit margin[5] - Net cash flow from operating activities increased by 828.50% year-on-year, mainly due to a 34,144,222.67 RMB increase in cash received from sales of goods and services, and a 16,389,671.17 RMB increase in other cash received related to operating activities[6] - Net cash flow from financing activities decreased by 107.48% year-on-year, primarily due to a 9,282,158.00 RMB decrease in cash received from borrowings and a 4,295,110.39 RMB increase in cash paid for dividends, profits, or interest repayments[6] Non-recurring Gains and Losses Net non-recurring gains and losses totaled 2,196,218.62 RMB, mainly from government grants and fair value changes Details of Non-recurring Gains and Losses | Item | Amount (RMB) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -20,745.01 | | Government Grants Included in Current Profit and Loss | 3,402,317.46 | | Fair Value Change Gains and Losses and Investment Income | 148,605.60 | | Other Non-operating Income and Expenses | -84,454.36 | | Total Non-recurring Gains and Losses | 3,445,723.69 | | Income Tax Impact | 476,882.44 | | Impact on Minority Interests (After Tax) | 772,622.63 | | Net Non-recurring Gains and Losses | 2,196,218.62 | Common Share Capital Structure and Top Ten Shareholders Total share capital is 143,690,460 shares; Beijing Kaiteng Jingda is the largest shareholder (46.72%), and some top ten shareholders are related Common Share Capital Structure | Share Type | Beginning Balance (shares) | Beginning Ratio (%) | Current Period Change (shares) | Ending Balance (shares) | Ending Ratio (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Unrestricted Shares | 91,865,218 | 63.93% | 0 | 91,865,218 | 63.93% | | Total Restricted Shares | 51,825,242 | 36.07% | 0 | 51,825,242 | 36.07% | | Total Share Capital | 143,690,460 | - | 0 | 143,690,460 | - | Shareholders Holding 5% or More or Top Ten Shareholders | No. | Shareholder Name | Shareholder Type | Ending Holding (shares) | Ending Holding Ratio (%) | Ending Restricted Shares (shares) | Ending Unrestricted Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | Beijing Kaiteng Jingda Management Consulting Service Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 67,126,838 | 46.72% | 48,926,838 | 18,200,000 | | 2 | Li Pingzhen | Domestic Natural Person | 4,800,000 | 3.34% | 0 | 4,800,000 | | 3 | Gao Shaocheng | Domestic Natural Person | 4,727,644 | 3.29% | 0 | 4,727,644 | | 4 | Yao Xiuxia | Domestic Natural Person | 4,111,460 | 2.86% | 0 | 4,111,460 | | 5 | Liu Xiaoying | Domestic Natural Person | 3,721,672 | 2.59% | 0 | 3,721,672 | | 6 | Jiao Xiaojun | Domestic Natural Person | 2,866,422 | 1.99% | 0 | 2,866,422 | | 7 | Li Wenyi | Domestic Natural Person | 2,866,422 | 1.99% | 0 | 2,866,422 | | 8 | Liu Fen | Domestic Natural Person | 2,770,924 | 1.93% | 0 | 2,770,924 | | 9 | Tian Qianqian | Domestic Natural Person | 2,000,000 | 1.39% | 0 | 2,000,000 | | 10 | Yao Caixia | Domestic Natural Person | 1,807,846 | 1.26% | 0 | 1,807,846 | | Total | - | 96,799,228 | 67.37% | 48,926,838 | 47,872,390 | - Shareholder Gao Shaocheng is Li Wenyi's nephew-in-law; Yao Xiuxia is Liu Xiaoying's daughter-in-law; Yao Caixia is Liu Xiaoying's daughter[9] - There are no pledged or judicially frozen shares among shareholders holding 5% or more or the top ten shareholders[10] Preferred Share Information The company had no preferred share-related matters during the reporting period - The company has no preferred share-related matters[10] Significant Events This section details the company's compliance with external guarantees, related party transactions, commitments, and asset encumbrances Compliance Status of Significant Matters The company complied with internal review and disclosure for external guarantees, related party transactions, commitments, and asset encumbrances Compliance Status of Significant Matters | Matter | Existed in Reporting Period | Underwent Internal Review Procedure | Timely Disclosed | | :--- | :--- | :--- | :--- | | Litigation and Arbitration Matters | No | Not Applicable | Not Applicable | | External Guarantees | Yes | Timely fulfilled in advance | Yes | | Estimated and Actual Recurring Related Party Transactions | Yes | Timely fulfilled in advance | Yes | | Disclosed Commitments | Yes | Timely fulfilled in advance | Yes | | Assets Seized, Detained, Frozen, Mortgaged, or Pledged | Yes | Not Applicable | Not Applicable | Details, Progress, and Other Significant Matters This section details external guarantees, related party transactions, commitment fulfillment, and asset encumbrances, all managed and disclosed per regulations External Guarantees The company provided external guarantees totaling 110 million RMB to subsidiaries, with a remaining balance of 49.01 million RMB Details of External Guarantees | Guaranteed Party | Guaranteed Amount (RMB) | Guarantee Balance (RMB) | Actual Guarantee Fulfilled (RMB) | Guarantee Period | Guarantee Type | Liability Type | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Huangshan Jinggong Gravure Plate Making Co., Ltd. | 50,000,000.00 | 29,045,000.00 | 20,955,000.00 | 2023.01.12-2028.01.11 | Guarantee | Joint and Several | | Huangshan Jinggong Gravure Plate Making Co., Ltd. | 30,000,000.00 | 19,509,664.06 | 10,490,335.94 | 2023.01.18-2028.01.17 | Guarantee | Joint and Several | | Changsha Jingda Printing Plate Making Co., Ltd. | 30,000,000.00 | 460,000.00 | 29,540,000.00 | 2023.04.11-2028.04.10 | Guarantee | Joint and Several | | Total | 110,000,000.00 | 49,014,664.06 | 60,985,335.94 | - | - | - | Estimated and Actual Recurring Related Party Transactions Recurring related party transactions totaled 20.74 million RMB, below the 37.20 million RMB estimate for the period Estimated and Actual Recurring Related Party Transactions | Specific Transaction Type | Estimated Amount for 2024 (RMB) | Amount Incurred by End of Reporting Period (RMB) | | :--- | :--- | :--- | | Purchase of Raw Materials, Fuels, Power, and Acceptance of Services | 2,116,500.00 | 1,190,800.49 | | Sale of Products, Goods, and Provision of Services | 35,086,000.00 | 19,548,259.04 | | Total | 37,202,500.00 | 20,739,059.53 | Disclosed Commitments Key commitments, including the actual controller's agreement and share price stabilization measures, have been fulfilled or extended - The actual controller's concerted action agreement was renewed on December 31, 2022, extending its term until December 30, 2025[14] - Measures and commitments regarding stabilizing the company's share price were fulfilled on August 5, 2024[14] - Commitments regarding share reduction were fulfilled in 2022[14] Assets Seized, Detained, Frozen, Mortgaged, or Pledged Assets totaling 37.10 million RMB (6.05% of total assets), mainly property and land use rights, are mortgaged for bank loans Restricted Asset Information | Asset Name | Asset Type | Restriction Type | Book Value (RMB) | Percentage of Total Assets (%) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Buildings | Fixed Assets | Mortgage | 18,620,798.10 | 3.04% | Bank loan mortgage | | Land Use Rights | Intangible Assets | Mortgage | 18,475,079.87 | 3.01% | Bank loan mortgage | | Total | - | - | 37,095,877.97 | 6.05% | - | - Asset mortgages help the company obtain bank loans, address working capital needs, and promote business development, without significant adverse impact on operations[15] Financial Accounting Report This section presents the unaudited consolidated and parent company balance sheets, income statements, and cash flow statements Audit Status of Financial Report The financial report for the current period remains unaudited - The financial report is unaudited[16] Financial Statements This section presents the consolidated and parent company balance sheets, income statements, and cash flow statements for Q3 2024 Consolidated Balance Sheet The consolidated balance sheet shows total assets increased by 5.11%, with notable changes in accounts receivable and long-term borrowings Key Changes in Consolidated Balance Sheet Items | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 613,147,247.77 | 583,349,587.06 | 5.11% | | Accounts Receivable | 92,676,012.54 | 66,897,661.93 | 38.53% | | Prepayments | 3,658,317.21 | 1,702,567.71 | 114.87% | | Construction in Progress | 34,560,578.13 | 51,832,040.20 | -33.32% | | Accounts Payable | 27,840,887.89 | 15,637,644.59 | 78.04% | | Long-term Borrowings | 58,840,335.94 | 35,600,000.00 | 65.28% | - Accounts receivable increased by 38.53%, mainly due to increased operating revenue and some receivables not yet due[4] - Prepayments increased by 114.87%, mainly due to increased prepayments for raw material purchases from suppliers[4] - Construction in progress decreased by 33.32%, mainly because the Changsha Jingda subsidiary's new plant project was completed and transferred to fixed assets, totaling 48,062,200.33 RMB[4] - Accounts payable increased by 78.04%, mainly due to increased payables for laser direct engraving machine equipment and the Changsha Jingda subsidiary's new plant project construction costs[5] - Long-term borrowings increased by 65.28%, mainly due to the company increasing bank long-term loans by 23,240,335.94 RMB[5] Parent Company Balance Sheet The parent company balance sheet shows total assets at 295.49 million RMB and total liabilities at 18.36 million RMB as of September 30, 2024 Key Data from Parent Company Balance Sheet | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | | :--- | :--- | :--- | | Total Assets | 295,488,986.18 | 296,421,293.16 | | Total Current Liabilities | 18,007,316.48 | 24,044,388.22 | | Total Liabilities | 18,363,446.78 | 24,410,963.96 | | Total Owners' Equity | 277,125,539.40 | 272,010,329.20 | Consolidated Income Statement Consolidated operating revenue increased 4.90%, but net profit attributable to the parent company decreased 42.24% due to lower gross margins Key Data from Consolidated Income Statement (Jan-Sep 2024) | Item | Jan-Sep 2024 (RMB) | Jan-Sep 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 323,474,263.78 | 308,361,495.83 | 4.90% | | Total Operating Costs | 303,667,245.91 | 277,899,617.87 | 9.20% | | Net Profit | 18,973,945.92 | 28,420,549.22 | -33.24% | | Net Profit Attributable to Parent Company Owners | 11,169,610.74 | 19,337,352.77 | -42.24% | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.13 | -38.46% | - The decline in net profit was mainly due to lower selling prices of main products in the current reporting period compared to the previous year, resulting in a reduced gross profit margin[5] Parent Company Income Statement The parent company's operating revenue was 2.43 million RMB, with net profit at 19.48 million RMB for January-September 2024 Key Data from Parent Company Income Statement (Jan-Sep 2024) | Item | Jan-Sep 2024 (RMB) | Jan-Sep 2023 (RMB) | | :--- | :--- | :--- | | Operating Revenue | 2,428,936.83 | 1,723,584.96 | | Investment Income | 26,532,127.58 | 25,731,444.76 | | Net Profit | 19,484,256.20 | 21,793,277.10 | Consolidated Cash Flow Statement Net cash flow from operating activities significantly increased by 828.50%, while financing cash flow decreased by 107.48% Key Data from Consolidated Cash Flow Statement (Jan-Sep 2024) | Item | Jan-Sep 2024 (RMB) | Jan-Sep 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 36,405,759.90 | -4,997,363.94 | 828.50% | | Net Cash Flow from Investing Activities | -43,153,330.98 | -33,233,126.94 | -29.86% | | Net Cash Flow from Financing Activities | -628,380.95 | 8,397,077.50 | -107.48% | | Net Increase in Cash and Cash Equivalents | -7,339,024.74 | -29,833,629.13 | 75.47% | - Net cash flow from operating activities surged by 828.50%, driven by a 34.14 million RMB increase in cash from sales and services, and a 16.39 million RMB increase in other operating cash receipts[6] - Net cash flow from financing activities turned negative, primarily due to a 9.28 million RMB decrease in cash from borrowings and a 4.29 million RMB increase in cash paid for dividends, profits, or interest repayments[6] Parent Company Cash Flow Statement The parent company's net cash flow from operating activities was 6.94 million RMB, with a net decrease in cash and cash equivalents of 2.94 million RMB Key Data from Parent Company Cash Flow Statement (Jan-Sep 2024) | Item | Jan-Sep 2024 (RMB) | Jan-Sep 2023 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 6,944,358.08 | 7,480,131.55 | | Net Cash Flow from Investing Activities | 4,603,222.82 | -14,299,536.57 | | Net Cash Flow from Financing Activities | -14,489,290.37 | -14,489,290.37 | | Net Increase in Cash and Cash Equivalents | -2,941,709.47 | -21,308,695.39 |