金牌厨柜(603180) - 2024 Q3 - 季度财报

Important Notes The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, with no false records, misleading statements, or major omissions[2] - This quarterly financial statement is unaudited[2] Key Financial Data This section presents the company's key financial performance indicators and non-recurring gains and losses for the current period and year-to-date Key Accounting Data and Financial Indicators The company's Q3 2024 and year-to-date operating revenue, net profit, and EPS all decreased year-over-year, with net cash flow from operating activities turning negative, and total assets and equity attributable to shareholders slightly declining 2024 Q3 and Year-to-Date Key Accounting Data and Financial Indicators | Item | Current Reporting Period (CNY) | YoY Change (%) | Year-to-Date (CNY) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 895,976,176.91 | -13.91 | 2,416,109,070.21 | -5.15 | | Net Profit Attributable to Shareholders of the Listed Company | 50,093,046.07 | -44.22 | 119,558,640.85 | -28.09 | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | 42,225,864.94 | -36.14 | 81,457,255.22 | -25.55 | | Net Cash Flow from Operating Activities | N/A | N/A | -211,036,260.40 | -192.76 | | Basic Earnings Per Share (CNY/share) | 0.33 | -43.10 | 0.78 | -27.78 | | Diluted Earnings Per Share (CNY/share) | 0.31 | -46.55 | 0.73 | -32.41 | | Weighted Average Return on Net Assets (%) | 1.82 | Decreased by 1.51 percentage points | 4.33 | Decreased by 1.90 percentage points | | Period-End Indicators | End of Current Reporting Period (CNY) | YoY Change from Prior Year-End (%) | End of Prior Year (CNY) | | | Total Assets | 5,693,016,316.31 | -4.68 | 5,972,602,679.01 | | | Total Equity Attributable to Shareholders of the Listed Company | 2,762,824,746.49 | -0.19 | 2,768,173,589.91 | | Non-Recurring Gains and Losses Items and Amounts The company's Q3 2024 non-recurring gains and losses totaled CNY 7.87 million, and year-to-date totaled CNY 38.10 million, primarily from government grants, fair value changes of financial assets, and disposal of non-current assets 2024 Q3 and Year-to-Date Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount for Current Period (CNY) | Amount from Year-Start to End of Reporting Period (CNY) | | :--- | :--- | :--- | | Gains/losses from disposal of non-current assets | 184,514.82 | 358,889.34 | | Government grants recognized in current profit/loss | 3,687,730.78 | 24,922,577.98 | | Gains/losses from changes in fair value and disposal of financial assets and liabilities | 6,026,891.79 | 16,500,459.12 | | Other non-operating income and expenses | 834,354.84 | 2,365,557.61 | | Other profit/loss items meeting the definition of non-recurring gains/losses | 7,458.89 | 288,730.44 | | Less: Income tax impact | 2,713,712.63 | 9,053,218.26 | | Impact on minority interests (after tax) | 160,057.36 | 364,380.54 | | Total | 7,867,181.13 | 38,101,385.63 | Changes and Reasons for Key Accounting Data and Financial Indicators The company's net profit, EPS, and net cash flow from operating activities significantly declined year-over-year, primarily due to real estate sector pressure, increased convertible bond interest expenses, and higher costs from new retail and overseas strategic investments - Net profit attributable to shareholders of the listed company decreased by 44.22% year-over-year, mainly due to pressure in the real estate sector, a decrease in operating revenue, and increased interest expenses from convertible corporate bonds[7] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses decreased by 36.14% year-over-year, as the company's new retail and overseas strategies are in an investment phase with higher fixed costs like upfront expenses and employee compensation, despite rapid growth in home improvement, full-package solutions, partial renovations, and overseas businesses in the first three quarters, indicating the new business models are proven and gradually showing benefits[7] - Basic earnings per share and diluted earnings per share decreased by 43.10% and 46.55% year-over-year, respectively, primarily due to reduced profit[7] - Net cash flow from operating activities decreased by 192.76% year-over-year, mainly due to reduced sales collections from real estate sector pressure and increased deposits for bulk business and employee compensation and benefits expenses[7] Shareholder Information This section details the total number of common shareholders and the shareholding structure of the top ten shareholders, including any pledges or related party relationships Total Common Shareholders and Top Ten Shareholders' Shareholding As of the end of the reporting period, the company had 11,322 common shareholders, with Xiamen Jianpan Group Co., Ltd. as the largest shareholder holding 41.52%, and several major shareholders having pledged shares and related party relationships - As of the end of the reporting period, the total number of common shareholders was 11,322[8] Top 10 Shareholders' Shareholding | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding Percentage (%) | Number of Shares Pledged, Marked, or Frozen (shares) | | :--- | :--- | :--- | :--- | :--- | | Xiamen Jianpan Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 64,044,322 | 41.52 | 24,409,282 | | Wen Jianhuai | Domestic Natural Person | 18,049,784 | 11.70 | 8,517,000 | | Pan Xiaozhen | Domestic Natural Person | 10,761,403 | 6.98 | 5,148,000 | | Wen Jianbei | Domestic Natural Person | 4,759,055 | 3.09 | 1,500,000 | | He Xinhai | Domestic Natural Person | 4,682,296 | 3.04 | 0 | | Zhang Shiju | Domestic Natural Person | 4,639,091 | 3.01 | 0 | | Pan Meiling | Domestic Natural Person | 3,805,214 | 2.47 | 1,800,000 | | Pan Yiqin | Domestic Natural Person | 1,983,124 | 1.29 | 1,383,000 | | Wen Jianhe | Domestic Natural Person | 1,980,008 | 1.28 | 230,000 | | Xiamen Yingzhi Private Equity Fund Management Co., Ltd. - Yingzhi Qiangzhai No. 3 Private Securities Investment Fund | Other | 1,585,679 | 1.03 | 0 | - Wen Jianhuai and Pan Xiaozhen are parties acting in concert, jointly holding 98.5% equity of Jianpan Group; Wen Jianhuai is brothers with Wen Jianbei and Wen Jianhe, Pan Xiaozhen and Pan Yiqin are siblings, and Pan Meiling is Pan Xiaozhen's niece[10] Other Reminders This section covers the company's 2024 interim dividend distribution plan and the status of its share repurchase program 2024 Interim Dividend Distribution The board approved the 2024 interim profit distribution plan, proposing a cash dividend of CNY 0.236 per share (tax inclusive), totaling CNY 36.02 million, representing 30.12% of the year-to-date net profit attributable to shareholders - The company plans to distribute a cash dividend of CNY 0.236 per share (tax inclusive) to all shareholders based on the total share capital registered on the equity distribution record date, excluding shares in the company's repurchase special account[11] - The total cash dividend distributed amounts to CNY 36,017,027.66 (tax inclusive), representing 30.12% of the company's net profit attributable to shareholders for the first three quarters of 2024[11] - This profit distribution matter has been authorized by the 2023 Annual General Meeting of Shareholders and does not require re-submission for approval[12] Share Repurchase Status The company approved a share repurchase plan on January 24, 2024, for equity incentives, employee stock ownership plans, and convertible bond conversion; as of September 30, 2024, 1,642,538 shares (1.0648% of total capital) have been repurchased for CNY 30.53 million - The company plans to repurchase shares using its own funds through centralized bidding transactions for equity incentives, employee stock ownership plans, and convertible bond conversion[13] - The total repurchase amount will be no less than CNY 30 million and no more than CNY 60 million, with a repurchase price not exceeding CNY 36.58 per share[13] Share Repurchase Status as of September 30, 2024 | Indicator | Value | | :--- | :--- | | Total Number of Shares Repurchased | 1,642,538 shares | | Percentage of Total Share Capital | 1.0648% | | Highest Transaction Price | 20.83 CNY/share | | Lowest Transaction Price | 16.55 CNY/share | | Total Transaction Amount | 30,533,511.64 CNY | Quarterly Financial Statements This section presents the company's unaudited quarterly financial statements, including the consolidated balance sheet, income statement, and cash flow statement Type of Audit Opinion This quarterly financial statement is unaudited - This quarterly financial statement is unaudited[15] Financial Statements This section provides the company's consolidated balance sheet, consolidated income statement, and consolidated cash flow statement for the first three quarters of 2024, reflecting its asset-liability structure, profitability, and cash flow performance Consolidated Balance Sheet This table presents a comparative overview of the company's consolidated balance sheet items as of September 30, 2024, versus December 31, 2023 Consolidated Balance Sheet Key Items Comparison (September 30, 2024 vs December 31, 2023) | Item | September 30, 2024 (CNY) | December 31, 2023 (CNY) | Change (CNY) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 664,406,027.83 | 788,199,479.67 | -123,793,451.84 | -15.71 | | Financial Assets Held for Trading | 854,696,900.44 | 1,377,126,881.16 | -522,429,980.72 | -37.94 | | Accounts Receivable | 235,097,583.02 | 150,893,737.01 | 84,203,846.01 | 55.80 | | Other Receivables | 105,287,582.38 | 37,331,694.29 | 67,955,888.09 | 182.03 | | Inventories | 527,528,702.98 | 498,423,505.29 | 29,105,197.69 | 5.84 | | Total Current Assets | 2,491,171,712.08 | 2,970,815,220.37 | -479,643,508.29 | -16.14 | | Long-Term Equity Investments | 67,042,343.65 | 53,152,762.71 | 13,889,580.94 | 26.13 | | Construction in Progress | 490,838,885.19 | 408,769,273.10 | 82,069,612.09 | 20.08 | | Deferred Income Tax Assets | 19,657,478.24 | 9,220,454.72 | 10,437,023.52 | 113.19 | | Other Non-Current Assets | 261,136,266.40 | 65,300,817.12 | 195,835,449.28 | 299.90 | | Total Non-Current Assets | 3,201,844,604.23 | 3,001,787,458.64 | 200,057,145.59 | 6.66 | | Total Assets | 5,693,016,316.31 | 5,972,602,679.01 | -279,586,362.70 | -4.68 | | Short-Term Borrowings | 643,330,000.00 | 682,300,000.00 | -38,970,000.00 | -5.71 | | Contract Liabilities | 258,132,510.12 | 440,572,644.42 | -182,440,134.30 | -41.41 | | Employee Benefits Payable | 50,133,588.11 | 83,529,198.19 | -33,395,610.08 | -39.98 | | Taxes Payable | 47,019,981.13 | 30,916,912.55 | 16,103,068.58 | 52.08 | | Other Payables | 241,740,258.12 | 207,955,159.55 | 33,785,098.57 | 16.25 | | Total Current Liabilities | 1,998,103,181.09 | 2,350,968,762.38 | -352,865,581.29 | -15.01 | | Bonds Payable | 762,582,106.76 | 741,376,984.74 | 21,205,122.02 | 2.86 | | Deferred Income | 103,811,711.39 | 37,994,507.24 | 65,817,204.15 | 173.23 | | Total Non-Current Liabilities | 923,152,944.03 | 844,477,628.95 | 78,675,315.08 | 9.32 | | Total Liabilities | 2,921,256,125.12 | 3,195,446,391.33 | -274,190,266.21 | -8.58 | | Total Equity Attributable to Parent Company Shareholders | 2,762,824,746.49 | 2,768,173,589.91 | -5,348,843.42 | -0.19 | Consolidated Income Statement This table presents a comparative overview of the company's consolidated income statement items for the first three quarters of 2024 versus the same period in 2023 Consolidated Income Statement Key Items Comparison (2024 Q1-Q3 vs 2023 Q1-Q3) | Item | 2024 Q1-Q3 (CNY) | 2023 Q1-Q3 (CNY) | Change (CNY) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,416,109,070.21 | 2,547,170,860.93 | -131,061,790.72 | -5.15 | | Operating Cost | 1,756,457,789.05 | 1,810,936,206.64 | -54,478,417.59 | -3.01 | | Selling Expenses | 278,651,893.24 | 327,436,535.05 | -48,784,641.81 | -14.90 | | Administrative Expenses | 138,509,045.11 | 126,112,519.34 | 12,396,525.77 | 9.83 | | Research and Development Expenses | 146,470,671.86 | 141,611,054.79 | 4,859,617.07 | 3.43 | | Financial Expenses | 3,432,956.40 | -4,508,164.67 | 7,941,121.07 | -176.15 | | Including: Interest Expense | 9,358,254.68 | 1,085,631.51 | 8,272,623.17 | 762.02 | | Investment Income | 18,104,307.68 | 23,061,298.15 | -4,956,990.47 | -21.50 | | Gains from Changes in Fair Value | 6,378,344.48 | -1,181,611.01 | 7,559,955.49 | -639.81 | | Operating Profit | 129,552,070.41 | 174,918,382.31 | -45,366,311.90 | -25.93 | | Total Profit | 131,845,711.33 | 180,633,802.55 | -48,788,091.22 | -27.01 | | Net Profit | 114,756,998.19 | 163,120,039.46 | -48,363,041.27 | -29.65 | | Net Profit Attributable to Parent Company Shareholders | 119,558,640.85 | 166,251,869.00 | -46,693,228.15 | -28.09 | | Basic Earnings Per Share (CNY/share) | 0.78 | 1.08 | -0.30 | -27.78 | | Diluted Earnings Per Share (CNY/share) | 0.73 | 1.08 | -0.35 | -32.41 | Consolidated Cash Flow Statement This table presents a comparative overview of the company's consolidated cash flow statement items for the first three quarters of 2024 versus the same period in 2023 Consolidated Cash Flow Statement Key Items Comparison (2024 Q1-Q3 vs 2023 Q1-Q3) | Item | 2024 Q1-Q3 (CNY) | 2023 Q1-Q3 (CNY) | Change (CNY) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Cash Received from Sales of Goods and Rendering of Services | 2,390,340,569.64 | 2,775,667,676.85 | -385,327,107.21 | -13.88 | | Cash Received Relating to Other Operating Activities | 297,889,851.07 | 142,592,904.54 | 155,296,946.53 | 108.91 | | Cash Paid to and on Behalf of Employees | 572,651,563.55 | 546,336,873.78 | 26,314,689.77 | 4.82 | | Cash Paid Relating to Other Operating Activities | 554,820,819.44 | 390,414,263.16 | 164,406,556.28 | 42.11 | | Net Cash Flow from Operating Activities | -211,036,260.40 | 227,514,223.27 | -438,550,483.67 | -192.76 | | Cash Received from Disposal of Investments | 3,781,392,105.91 | 4,521,708,674.35 | -740,316,568.44 | -16.37 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 322,976,549.71 | 467,309,276.41 | -144,332,726.70 | -30.89 | | Cash Paid for Investments | 3,212,513,405.85 | 4,815,722,763.72 | -1,603,209,357.87 | -33.29 | | Net Cash Flow from Investing Activities | 250,293,378.69 | -757,609,834.29 | 1,007,903,212.98 | -133.04 | | Cash Received from Borrowings | 10,000,000.00 | 762,520,000.00 | -752,520,000.00 | -98.69 | | Cash Received Relating to Other Financing Activities | 657,857,819.42 | 490,301,010.04 | 167,556,809.38 | 34.17 | | Cash Paid for Repayment of Debts | 0.00 | 0.00 | 0.00 | 0.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 94,520,250.74 | 112,211,683.14 | -17,691,432.40 | -15.77 | | Cash Paid Relating to Other Financing Activities | 740,669,944.06 | 532,923,584.43 | 207,746,359.63 | 39.00 | | Net Cash Flow from Financing Activities | -162,252,985.78 | 611,551,898.52 | -773,804,884.30 | -126.53 | | Net Increase in Cash and Cash Equivalents | -123,558,410.77 | 82,776,207.20 | -206,334,617.97 | -249.28 |