申达股份(600626) - 2024 Q3 - 季度财报

Key Highlights This report highlights the board's assurance of content accuracy, details narrowing losses, improving cash flow, non-recurring items, and shareholder information Key Financial Data Year-to-date revenue grew 4.18%, Q3 revenue declined 4.67%, net losses narrowed, and operating cash flow improved Key Accounting Data and Financial Indicators Q3 revenue declined 4.67%, year-to-date revenue grew 4.18%, net losses persisted, and operating cash flow was 411 million RMB year-to-date | Item | Current Period (Q3) (RMB) | YoY Change (%) | Year-to-Date (YTD) (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 2,867,967,858.92 | -4.67 | 8,939,723,830.79 | 4.18 | | Net Profit Attributable to Shareholders | -107,431,370.35 | Not Applicable | -53,226,808.34 | Not Applicable | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses | -109,747,240.91 | Not Applicable | -57,096,000.40 | Not Applicable | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | 411,004,011.54 | Not Applicable | | Basic Earnings Per Share (RMB/share) | -0.0813 | Not Applicable | -0.0403 | Not Applicable | | Diluted Earnings Per Share (RMB/share) | -0.0813 | Not Applicable | -0.0403 | Not Applicable | | Weighted Average Return on Net Assets (%) | -3.36 | Decreased by 0.05 percentage points | -1.68 | Increased by 6.06 percentage points | | Item | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 10,633,034,466.54 | 10,809,728,529.46 | -1.63 | | Owner's Equity Attributable to Shareholders | 3,146,973,591.58 | 3,183,577,222.76 | -1.15 | Non-Recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 2.32 million RMB for the period and 3.87 million RMB year-to-date, primarily from asset disposal, government grants, and financial asset fair value changes | Non-Recurring Gains and Losses Item | Current Period Amount (RMB) | Year-to-Date Amount (RMB) | Description | | :--- | :--- | :--- | :--- | | Gains or Losses from Disposal of Non-Current Assets | 608,487.60 | 293,273.40 | Gains or losses from disposal of fixed assets and long-term equity investments | | Government Grants Included in Current Profit and Loss | 4,020,178.95 | 7,283,437.38 | Amortization of deferred income, export insurance subsidies, job stabilization subsidies, etc | | Gains or Losses from Changes in Fair Value of Financial Assets and Liabilities Held by Non-Financial Enterprises, and from Disposal of Financial Assets and Liabilities | 221,670.04 | 634,103.84 | Primarily bank wealth management income | | One-Off Expenses Incurred by Enterprises Due to Discontinued Related Operating Activities | -1,271,046.76 | -3,657,372.68 | Auria company restructuring expenses | | Other Gains and Losses Meeting the Definition of Non-Recurring Gains and Losses | 1,416,365.24 | 1,416,365.24 | Received bankruptcy liquidation funds from former controlling subsidiary PFI Holdings, LLC | | Total | 2,315,870.56 | 3,869,192.06 | | Changes and Reasons for Key Accounting Data and Financial Indicators Year-to-date net losses significantly narrowed due to improved overseas operations and cost control, with operating cash flow turning positive - Year-to-date net profit attributable to shareholders was -53.23 million RMB, a significant improvement from -237.33 million RMB in the prior year, primarily due to enhanced operational quality and cost control at some overseas factories, particularly in the overseas automotive interior business[6] - Year-to-date net cash flow from operating activities was 411.00 million RMB, a significant turnaround from -417.48 million RMB in the prior year, mainly due to the release of restricted letter of guarantee deposits, order settlement cycles, and improved overseas factory operations and cost control[6] - Year-to-date weighted average return on net assets increased by 6.06 percentage points, primarily due to a 184.10 million RMB increase in net profit attributable to the parent company compared to the prior period[7] Shareholder Information As of the reporting period end, the company had 41,895 common shareholders, with Shanghai Shenda and Shanghai Textile holding over 55% combined Total Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders The company had 41,895 common shareholders; Shanghai Shenda and Shanghai Textile, major state-owned corporate shareholders, held 39.41% and 16.11% respectively - Total common shareholders at the end of the reporting period were 41,895[8] | Shareholder Name | Shareholder Type | Number of Shares Held | Shareholding Ratio (%) | Number of Restricted Shares Held | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Shenda (Group) Co., Ltd. | State-owned Legal Person | 520,514,373 | 39.41 | 255,687,394 | None | | Shanghai Textile (Group) Co., Ltd. | State-owned Legal Person | 212,765,957 | 16.11 | 212,765,957 | None | | Shanghai Junhe Licheng Investment Management Center (Limited Partnership) - Shanghai Lingang Dongfang Junhe Sci-Tech Industry Equity Investment Fund Partnership (Limited Partnership) | Other | 22,479,966 | 1.70 | 0 | None | | Shanghai Guosheng Capital Management Co., Ltd. - Shanghai State-Owned Enterprise Reform and Development Equity Investment Fund Partnership (Limited Partnership) | Other | 13,383,954 | 1.01 | 0 | None | | Jiangsu Guotai International Group Co., Ltd. | State-owned Legal Person | 10,000,000 | 0.76 | 0 | None | - Shanghai Textile (Group) Co., Ltd. holds 100% equity in Shanghai Shenda (Group) Co., Ltd., forming a concerted action relationship[9] Share Lending by Shareholders Holding 5% or More, Top 10 Shareholders, and Top 10 Non-Restricted Shareholders in Securities Lending Shanghai Junhe Licheng Investment Management Center and ICBC previously engaged in securities lending, but had no outstanding loaned shares at period-end | Shareholder Name (Full Name) | Total Shares Held in Ordinary and Credit Accounts at Beginning of Period | Total Shares Loaned and Not Yet Returned in Securities Lending at Beginning of Period | Total Shares Held in Ordinary and Credit Accounts at End of Period | Total Shares Loaned and Not Yet Returned in Securities Lending at End of Period | | :--- | :--- | :--- | :--- | :--- | | Shanghai Junhe Licheng Investment Management Center (Limited Partnership) - Shanghai Lingang Dongfang Junhe Sci-Tech Industry Equity Investment Fund Partnership (Limited Partnership) | 16,740,066 | 5,739,900 | 22,479,966 | 0 | | Industrial and Commercial Bank of China Co., Ltd. - CSI Shanghai State-Owned Enterprise ETF | 3,448,900 | 755,800 | 5,104,100 | 0 | Other Reminders The company has no other significant operational information requiring investor attention during the reporting period - The company has no other significant operational information requiring investor attention during the reporting period[12] Quarterly Financial Statements This section presents the unaudited consolidated financial statements for Q3 2024, including the balance sheet, income statement, and cash flow statement as of September 30 Type of Audit Opinion The quarterly financial statements are unaudited - The third-quarter financial statements are unaudited[2][12] Financial Statements This section details the consolidated balance sheet, income statement, and cash flow statement, reflecting the company's financial position, profitability, and cash flow as of September 30 Consolidated Balance Sheet As of September 30, 2024, total assets were 10.63 billion RMB, down 1.63% from prior year-end; liabilities were 7.14 billion RMB, and owner's equity was 3.15 billion RMB | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 10,633,034,466.54 | 10,809,728,529.46 | -1.63 | | Total Current Assets | 5,500,702,510.46 | 5,412,432,350.58 | 1.63 | | Total Non-Current Assets | 5,132,331,956.08 | 5,397,296,178.88 | -4.91 | | Total Liabilities | 7,135,206,024.71 | 7,301,076,725.06 | -2.30 | | Total Current Liabilities | 4,197,997,447.60 | 5,095,058,866.52 | -17.59 | | Total Non-Current Liabilities | 2,937,208,577.11 | 2,206,017,858.54 | 33.14 | | Total Owner's Equity Attributable to Parent Company | 3,146,973,591.58 | 3,183,577,222.76 | -1.15 | - Short-term borrowings significantly decreased from 1.74 billion RMB at the end of 2023 to 0.94 billion RMB on September 30, 2024, while long-term borrowings increased from 1.54 billion RMB to 2.33 billion RMB, indicating a shift in debt structure[13][14] Consolidated Income Statement Year-to-date 2024 total operating revenue was 8.94 billion RMB, up 4.18%; net loss narrowed to -19.63 million RMB, and investment income grew 208.60% | Item | First Three Quarters 2024 (RMB) | First Three Quarters 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 8,939,723,830.79 | 8,580,952,689.00 | 4.18 | | Total Operating Costs | 8,959,686,161.96 | 8,865,194,944.25 | 1.07 | | Operating Profit (Loss indicated by "-") | 33,625,730.12 | -267,557,493.07 | Not Applicable (Turned from Loss to Profit) | | Net Profit (Net Loss indicated by "-") | -19,626,192.44 | -298,112,519.45 | Not Applicable (Loss Narrowed) | | Net Profit Attributable to Parent Company Shareholders | -53,226,808.34 | -237,330,671.70 | Not Applicable (Loss Narrowed) | | Minority Interest Income/Loss | 33,600,615.90 | -60,781,847.75 | Not Applicable (Turned from Loss to Profit) | | Investment Income (Loss indicated by "-") | 49,732,767.19 | 16,116,084.42 | 208.60 | | Financial Expenses | 140,933,234.49 | 45,279,928.54 | 211.26 | - Financial expenses significantly increased by 211.26% year-on-year to 140.93 million RMB, possibly due to changes in borrowing structure and interest rate fluctuations[15] Consolidated Cash Flow Statement Year-to-date 2024 operating cash flow was 411.00 million RMB, a significant improvement; financing cash flow turned negative due to increased debt repayments | Item | First Three Quarters 2024 (RMB) | First Three Quarters 2023 (RMB) | Change (RMB) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 411,004,011.54 | -417,481,472.61 | 828,485,484.15 | | Net Cash Flow from Investing Activities | -148,859,025.28 | -177,881,701.01 | 29,022,675.73 | | Net Cash Flow from Financing Activities | -199,028,120.83 | 467,039,015.78 | -666,067,136.61 | | Net Increase in Cash and Cash Equivalents | 67,072,830.36 | -114,237,877.19 | 181,310,707.55 | | Cash and Cash Equivalents at End of Period | 2,182,812,615.34 | 1,705,630,861.28 | 477,181,754.06 | - Increased cash outflow from financing activities was primarily due to 2.37 billion RMB in debt repayments (compared to 3.69 billion RMB in the prior year), coupled with zero cash received from investments (compared to 0.60 billion RMB in the prior year), resulting in a negative net cash flow[18]