意华股份(002897) - 2024 Q3 - 季度财报

Report Overview Important Notice The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the information disclosed, with the financial report remaining unaudited - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report[2] - The company's responsible person, head of accounting, and head of accounting department declare the truthfulness, accuracy, and completeness of financial information[2] - The third-quarter report is unaudited[2][15] Key Financial Data Key Accounting Data and Financial Indicators The company demonstrated strong financial performance in Q3 2024 and year-to-date, with significant growth in operating revenue, net profit, total assets, and shareholders' equity Key Accounting Data and Financial Indicators | Indicator | This Reporting Period (Q3 2024) | Change from Prior Year Period | Year-to-Date (YTD 2024) | Change from Prior Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 1,570,990,708.24 | 19.82% | 4,742,697,892.89 | 34.17% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | 58,289,692.04 | 70.66% | 231,694,843.82 | 130.86% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses (Yuan) | 55,062,346.48 | 70.38% | 215,795,544.12 | 136.07% | | Net Cash Flow from Operating Activities (Yuan) | — | — | 418,212,080.94 | 261.02% | | Basic Earnings Per Share (Yuan/share) | 0.30 | 50.00% | 1.27 | 115.25% | | Diluted Earnings Per Share (Yuan/share) | 0.30 | 50.00% | 1.27 | 115.25% | | Weighted Average Return on Net Assets | 2.30% | 0.22% | 10.59% | 4.59% | | Period-end Indicators | End of This Reporting Period | End of Prior Year | Change from Prior Year-end | | | Total Assets (Yuan) | 6,495,993,979.39 | 5,519,055,345.20 | 17.70% | | | Total Equity Attributable to Shareholders of Listed Company (Yuan) | 2,538,013,847.64 | 1,730,941,186.01 | 46.63% | | Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses primarily include government grants, non-current asset disposal gains/losses, and fair value changes of financial assets/liabilities, totaling 15,899,299.70 Yuan year-to-date Non-recurring Gains and Losses Items and Amounts | Item | Amount for This Reporting Period (Yuan) | Year-to-Date Amount (Yuan) | Explanation | | :--- | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -541,192.79 | -734,956.98 | Primarily losses from disposal of fixed assets | | Government Grants Included in Current Profit and Loss | 5,631,037.44 | 19,107,231.37 | Primarily government grants | | Gains and Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | -1,148,489.67 | -581,084.50 | Primarily forward exchange hedging | | Other Non-operating Income and Expenses | -176,916.81 | 419,067.58 | | | Less: Income Tax Impact | 130,255.39 | 1,030,146.01 | | | Impact on Minority Shareholders' Equity (After Tax) | 406,837.22 | 1,280,811.76 | | | Total | 3,227,345.56 | 15,899,299.70 | | - Year-to-date, total non-recurring gains and losses amounted to 15,899,299.70 Yuan[4] Changes and Reasons for Key Accounting Data and Financial Indicators Key financial metrics changed due to factors like capital raised, main business growth, increased equity incentive expenses, and exchange rate fluctuations, reflecting business expansion and capital operations Changes in Consolidated Balance Sheet Items Balance sheet changes primarily reflect significant increases in cash and capital reserves due to raised funds, growth in accounts receivable financing, and decreases in other receivables and contract assets - Cash and cash equivalents at period-end increased by 87.99% from prior year-end, primarily due to increased bank deposits from raised funds[5] - Capital reserve at period-end increased by 129.26% from prior year-end, primarily due to proceeds from private placement of shares[5] - Accounts receivable financing at period-end increased by 49.97% from prior year-end, primarily due to an increase in bank acceptance bills[5] - Other receivables at period-end decreased by 51.77% from prior year-end, primarily due to a reduction in intercompany balances[5] Changes in Consolidated Income Statement Items Income statement changes reflect increased operating revenue and costs from main business growth, higher administrative expenses due to equity incentives, increased financial expenses from exchange losses, and higher other income from government grants - Operating revenue for the period increased by 34.17% from the prior year period, primarily due to increased main business revenue[5] - Administrative expenses for the period increased by 46.59% from the prior year period, primarily due to increased equity incentive expenses[5] - Financial expenses for the period increased by 67.20% from the prior year period, primarily due to increased exchange losses[5] - Other income for the period increased by 102.40% from the prior year period, primarily due to increased government grants[5] Changes in Consolidated Cash Flow Statement Items Cash flow changes show a significant increase in net cash from operating activities due to higher sales, a decrease in net cash from investing activities due to increased asset purchases, and an increase in net cash from financing activities due to new investments - Net cash flow from operating activities for the period increased by 261.02% from the prior year period, primarily due to increased cash received from sales of goods and services[5] - Net cash flow from investing activities for the period decreased by 148.20% from the prior year period, primarily due to increased cash paid for acquisition of fixed assets, intangible assets, and other long-term assets[5] - Net cash flow from financing activities for the period increased by 51.83% from the prior year period, primarily due to increased cash received from investments[5] - Net increase in cash and cash equivalents for the period increased by 130.41% from the prior year period, primarily due to proceeds from private placement of shares[6] Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 32,334 common shareholders, with Yihua Holding Group Co., Ltd. as the controlling shareholder at 38.24% ownership, and several directors among the top ten shareholders with existing affiliations - At the end of the reporting period, the total number of common shareholders was 32,334[6] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | Number of Shares with Restricted Sales Conditions | Pledged, Marked, or Frozen Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Yihua Holding Group Co., Ltd. | Domestic Non-state-owned Legal Person | 38.24% | 74,208,294 | 0 | Not Applicable | | Fang Jianbin | Domestic Natural Person | 1.61% | 3,131,144 | 2,348,358 | Not Applicable | | Jiang Youan | Domestic Natural Person | 1.40% | 2,714,249 | 2,035,687 | Not Applicable | | Fang Jianwen | Domestic Natural Person | 1.36% | 2,632,848 | 1,974,636 | Not Applicable | | Zheng Suifeng | Domestic Natural Person | 1.23% | 2,395,268 | 0 | Not Applicable | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.85% | 1,650,470 | 0 | Not Applicable | | UBS AG | Overseas Legal Person | 0.62% | 1,204,997 | 1,118,359 | Not Applicable | | Guotai Junan Securities Co., Ltd. | State-owned Legal Person | 0.59% | 1,136,597 | 994,097 | Not Applicable | | Cai Shengcai | Domestic Natural Person | 0.55% | 1,063,623 | 797,717 | Not Applicable | | Great Wall Securities Co., Ltd. | State-owned Legal Person | 0.55% | 1,061,528 | 1,056,228 | Not Applicable | - Yihua Holding Group Co., Ltd. is the controlling shareholder, holding 38.24% of the shares[6] - Cai Shengcai, Fang Jianbin, Jiang Youan, and Fang Jianwen are company directors; Fang Jianbin is Fang Jianwen's younger brother[6] Other Significant Matters Other Significant Matters In August 2024, the company completed the industrial and commercial registration for changes in registered capital and amendments to its Articles of Association, obtaining a new business license - In August 2024, the company completed the industrial and commercial registration procedures for changes in registered capital and amendments to its Articles of Association, obtaining a new business license issued by the Zhejiang Administration for Market Regulation[7] Quarterly Financial Statements Consolidated Balance Sheet As of Q3 2024, total assets reached 6.496 billion Yuan, a 17.70% increase from the beginning of the period, with significant growth in cash and capital reserves reflecting enhanced financial strength from raised funds Consolidated Balance Sheet (Selected Items) | Item | Period-end Balance (2024 Q3) (Yuan) | Beginning Balance (2023 Year-end) (Yuan) | | :--- | :--- | :--- | | Current Assets: | | | | Cash and Cash Equivalents | 983,353,852.76 | 523,099,106.22 | | Accounts Receivable | 1,607,679,285.88 | 1,363,549,430.16 | | Inventories | 1,674,371,549.27 | 1,500,346,790.15 | | Total Current Assets | 4,727,073,350.44 | 3,848,305,193.14 | | Non-current Assets: | | | | Fixed Assets | 1,033,883,591.74 | 954,766,465.65 | | Intangible Assets | 135,502,318.49 | 85,633,057.84 | | Total Non-current Assets | 1,768,920,628.95 | 1,670,750,152.06 | | Total Assets | 6,495,993,979.39 | 5,519,055,345.20 | | Current Liabilities: | | | | Short-term Borrowings | 1,090,281,077.27 | 1,121,026,127.49 | | Contract Liabilities | 393,431,745.30 | 256,740,221.14 | | Total Current Liabilities | 3,046,912,468.04 | 2,786,138,612.36 | | Non-current Liabilities: | | | | Long-term Borrowings | 749,057,497.34 | 879,656,853.38 | | Total Non-current Liabilities | 870,025,269.55 | 1,000,718,596.47 | | Total Liabilities | 3,916,937,737.59 | 3,786,857,208.83 | | Shareholders' Equity: | | | | Share Capital | 194,049,696.00 | 170,672,000.00 | | Capital Reserve | 1,181,551,001.94 | 515,384,307.37 | | Total Equity Attributable to Parent Company Shareholders | 2,538,013,847.64 | 1,730,941,186.01 | | Minority Interests | 41,042,394.16 | 1,256,950.36 | | Total Shareholders' Equity | 2,579,056,241.80 | 1,732,198,136.37 | | Total Liabilities and Shareholders' Equity | 6,495,993,979.39 | 5,519,055,345.20 | - Total assets at period-end were 6,495,993,979.39 Yuan, an increase of 17.70% from the prior year-end[2][10] - Total equity attributable to shareholders of the listed company at period-end was 2,538,013,847.64 Yuan, an increase of 46.63% from the prior year-end[2][10] Consolidated Income Statement From year-to-date 2024, total operating revenue reached 4.743 billion Yuan, a 34.17% increase year-over-year, with net profit attributable to parent company shareholders reaching 232 million Yuan, up 130.86%, significantly boosting earnings per share Consolidated Income Statement (Year-to-Date, Selected Items) | Item | Amount for This Period (YTD 2024) (Yuan) | Amount for Prior Period (YTD 2023) (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 4,742,697,892.89 | 3,534,871,489.53 | | Of which: Operating Revenue | 4,742,697,892.89 | 3,534,871,489.53 | | II. Total Operating Costs | 4,421,424,838.21 | 3,361,117,677.56 | | Of which: Operating Cost | 3,834,275,197.89 | 2,910,925,159.95 | | Selling Expenses | 103,047,070.48 | 80,459,592.63 | | Administrative Expenses | 239,815,709.41 | 163,596,881.47 | | Research and Development Expenses | 167,749,115.96 | 156,143,242.32 | | Financial Expenses | 59,685,391.91 | 35,696,907.77 | | III. Operating Profit | 277,854,566.01 | 106,325,412.26 | | IV. Total Profit | 278,273,633.59 | 104,633,786.18 | | V. Net Profit | 252,127,699.41 | 75,012,066.83 | | Net Profit Attributable to Parent Company Shareholders | 231,694,843.82 | 100,362,016.18 | | Minority Interest Income/Loss | 20,432,855.59 | -25,349,949.35 | | VIII. Earnings Per Share: | | | | (I) Basic Earnings Per Share | 1.27 | 0.59 | | (II) Diluted Earnings Per Share | 1.27 | 0.59 | - Year-to-date total operating revenue was 4,742,697,892.89 Yuan, an increase of 34.17% from the prior year period[2][11] - Year-to-date net profit attributable to parent company shareholders was 231,694,843.82 Yuan, an increase of 130.86% from the prior year period[2][12] - Year-to-date basic and diluted earnings per share were both 1.27 Yuan/share, an increase of 115.25% from the prior year period[2][13] Consolidated Cash Flow Statement From year-to-date 2024, net cash flow from operating activities significantly increased to 418 million Yuan due to higher sales, while investing cash outflows rose, and financing cash inflows grew substantially from new investments, with cash and cash equivalents reaching 880 million Yuan at period-end Consolidated Cash Flow Statement (Year-to-Date, Selected Items) | Item | Amount for This Period (YTD 2024) (Yuan) | Amount for Prior Period (YTD 2023) (Yuan) | | :--- | :--- | :--- | | I. Cash Flows from Operating Activities: | | | | Cash Received from Sales of Goods and Services | 3,951,396,340.48 | 3,016,776,732.98 | | Subtotal of Cash Inflows from Operating Activities | 4,252,077,714.36 | 3,194,606,466.59 | | Cash Paid for Goods and Services | 2,665,305,343.05 | 2,151,102,344.63 | | Subtotal of Cash Outflows from Operating Activities | 3,833,865,633.42 | 3,078,764,742.39 | | Net Cash Flow from Operating Activities | 418,212,080.94 | 115,841,724.20 | | II. Cash Flows from Investing Activities: | | | | Subtotal of Cash Inflows from Investing Activities | 167,492,602.38 | 212,123,101.59 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-term Assets | 253,269,310.65 | 93,320,156.35 | | Subtotal of Cash Outflows from Investing Activities | 419,262,200.65 | 313,561,603.86 | | Net Cash Flow from Investing Activities | -251,769,598.27 | -101,438,502.27 | | III. Cash Flows from Financing Activities: | | | | Cash Received from Investments | 665,967,106.80 | 20,244,266.00 | | Subtotal of Cash Inflows from Financing Activities | 1,883,993,007.58 | 1,743,367,782.14 | | Cash Paid for Debt Repayment | 1,445,464,972.18 | 1,409,404,884.79 | | Subtotal of Cash Outflows from Financing Activities | 1,652,357,348.19 | 1,590,805,415.96 | | Net Cash Flow from Financing Activities | 231,635,659.39 | 152,562,366.18 | | V. Net Increase in Cash and Cash Equivalents | 416,890,494.46 | 180,930,978.21 | | VI. Cash and Cash Equivalents at End of Period | 879,746,505.52 | 594,824,462.91 | - Year-to-date net cash flow from operating activities was 418,212,080.94 Yuan, an increase of 261.02% from the prior year period[2][14] - Year-to-date net cash flow from investing activities was -251,769,598.27 Yuan, a decrease of 148.20% from the prior year period, primarily due to increased cash paid for acquisition of fixed assets, intangible assets, and other long-term assets[5][15] - Year-to-date net cash flow from financing activities was 231,635,659.39 Yuan, an increase of 51.83% from the prior year period, primarily due to increased cash received from investments[5][15] - Cash and cash equivalents at period-end totaled 879,746,505.52 Yuan[15] Audit Report The company's 2024 third-quarter report is unaudited - The company's third-quarter report is unaudited[15]