成电光信(920008) - 2024 Q3 - 季度财报

Important Notice This section confirms the report's integrity, notes its unaudited status, and advises caution regarding forward-looking statements - The company's directors, supervisors, and senior management guarantee that the information contained in this report contains no false statements, misleading representations, or material omissions, and assume individual and joint liability for its truthfulness, accuracy, and completeness[2] - This quarterly report has not been audited by an accounting firm[2][3] - Forward-looking statements regarding future plans in this report do not constitute a substantive commitment by the company to investors, who should maintain risk awareness[2] - There are no objections from the company's directors, supervisors, or senior management regarding the content of the quarterly report, nor any inability to guarantee its truthfulness, accuracy, and completeness, nor any directors who did not attend the board meeting to review the quarterly report or any undisclosed matters as required[3] Company Profile This section provides an overview of the company's financial performance, share capital structure, and shareholder information Key Financial Data By the end of Q3 2024, total assets and net assets attributable to shareholders significantly increased, while the asset-liability ratio decreased; year-to-date, operating revenue and net profit attributable to shareholders grew substantially, but net operating cash flow was negative with a significant year-over-year decline, and Q3 alone saw a decrease in net profit attributable to shareholders and net operating cash flow Key Financial Data (End of Reporting Period vs. End of Previous Year) | Item | End of Reporting Period (Sept 30, 2024) (RMB) | End of Previous Year (Dec 31, 2023) (RMB) | Change from Previous Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 454,182,807.12 | 324,655,219.87 | 39.90% | | Net Assets Attributable to Shareholders | 287,626,949.38 | 165,772,154.46 | 73.51% | | Asset-Liability Ratio (Parent Company) (%) | 36.67% | 48.94% | - | | Asset-Liability Ratio (Consolidated) (%) | 36.67% | 48.94% | - | Key Financial Data (Year-to-Date vs. Prior Year-to-Date) | Item | Year-to-Date (Jan-Sept 2024) (RMB) | Prior Year-to-Date (Jan-Sept 2023) (RMB) | Change from Prior Year-to-Date (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 202,818,843.83 | 125,813,256.70 | 61.21% | | Net Profit Attributable to Shareholders | 31,169,658.42 | 26,734,953.69 | 16.59% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 29,921,393.86 | 24,164,931.29 | 23.82% | | Net Cash Flow from Operating Activities | -45,959,701.71 | -26,827,079.34 | -71.32% | | Basic Earnings Per Share (RMB/share) | 0.5752 | 0.5050 | 13.90% | | Weighted Average Return on Net Assets (based on Net Profit Attributable to Shareholders) (%) | 16.33% | 19.53% | - | | Weighted Average Return on Net Assets (based on Net Profit Attributable to Shareholders, excluding Non-Recurring Items) (%) | 15.68% | 17.65% | - | Key Financial Data (Current Reporting Period vs. Prior Year Period) | Item | Current Reporting Period (Jul-Sept 2024) (RMB) | Prior Year Period (Jul-Sept 2023) (RMB) | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 57,546,705.29 | 49,298,685.42 | 16.73% | | Net Profit Attributable to Shareholders | 4,174,894.79 | 7,496,313.61 | -44.31% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 3,997,079.00 | 6,934,172.40 | -42.36% | | Net Cash Flow from Operating Activities | -1,580,231.18 | 15,729,447.78 | -110.05% | | Basic Earnings Per Share (RMB/share) | 0.0742 | 0.1410 | -47.38% | | Weighted Average Return on Net Assets (based on Net Profit Attributable to Shareholders) (%) | 1.88% | 5.22% | - | | Weighted Average Return on Net Assets (based on Net Profit Attributable to Shareholders, excluding Non-Recurring Items) (%) | 1.80% | 4.83% | - | - Cash and cash equivalents increased by 104.21% from the beginning of the year, primarily due to 96.78 million RMB in proceeds from the company's IPO, offset by lower collections resulting in a net outflow of 45.96 million RMB from operating activities[8] - Accounts receivable increased by 89.04% from the beginning of the year, mainly due to significant sales revenue growth from major customers during the reporting period, coupled with longer collection cycles[8] - Short-term borrowings decreased by 100% from the beginning of the year, primarily due to the repayment of all short-term borrowings during the reporting period[8] - Non-current liabilities due within one year increased by 2,170.79% from the beginning of the year, mainly due to the reclassification of long-term borrowings and interest due within one year to this category[9] - Capital reserves increased by 483.07% from the beginning of the year, primarily due to the issuance of new shares during the company's IPO in the current period[9] - Operating revenue increased by 61.21% compared to the prior period, mainly due to the successful delivery and acceptance of special display products, leading to a significant increase in revenue[10] - Operating costs increased by 111.66% compared to the prior period, primarily because costs increased with revenue, and the proportion of lower-margin special display products grew[10] - Credit impairment losses increased by 180.08% compared to the prior period, mainly due to a substantial increase in accounts receivable balances at the end of the current period, leading to higher bad debt provisions[10] - Net cash flow from operating activities was -45,959,701.71 RMB, a 71.32% decrease from the prior period, primarily due to lower sales collections in the current period[10] - Net cash flow from financing activities increased by 261.86% compared to the prior period, mainly due to the company receiving 96.77 million RMB in proceeds from its IPO[10] Non-Recurring Gains and Losses Items and Amounts | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -18,568.47 | | Government Grants Recognized in Current Profit/Loss | 1,487,115.01 | | Total Non-Recurring Gains and Losses | 1,468,546.54 | | Income Tax Impact | 220,281.98 | | Impact on Minority Interests (After Tax) | - | | Net Non-Recurring Gains and Losses | 1,248,264.56 | Common Share Capital Structure and Top Ten Shareholders As of the end of the reporting period, the company's total share capital increased to 62,370,000 shares, with restricted shares accounting for 61.72%; the top ten shareholders collectively held 64.6182%, showing stable holdings with no pledged or judicially frozen shares Common Share Capital Structure (Period-End) | Share Type | Beginning Balance (shares) | Beginning Proportion (%) | Current Period Change (shares) | Ending Balance (shares) | Ending Proportion (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Unrestricted Shares | 21,927,559 | 41.24% | 1,945,674 | 23,873,233 | 38.28% | | Total Restricted Shares | 31,242,441 | 58.76% | 7,254,326 | 38,496,767 | 61.72% | | Total Share Capital | 53,170,000 | - | 9,200,000 | 62,370,000 | - | | Number of Common Shareholders | - | - | - | 3,957 | - | Shareholders Holding Over 5% or Top Ten Shareholders | No. | Shareholder Name | Shareholder Nature | Beginning Holding (shares) | Change in Holding (shares) | Ending Holding (shares) | Ending Holding Proportion (%) | Ending Restricted Shares (shares) | Ending Unrestricted Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | Qiu Kun | Domestic Natural Person | 10,878,430 | 0 | 10,878,430 | 17.4418% | 10,878,430 | 0 | | 2 | Xie Jun | Domestic Natural Person | 7,164,459 | 0 | 7,164,459 | 11.4870% | 7,164,459 | 0 | | 3 | Fu Mei | Domestic Natural Person | 6,696,260 | 0 | 6,696,260 | 10.7363% | 6,696,260 | 0 | | 4 | Bao Yongming | Domestic Natural Person | 5,300,000 | 0 | 5,300,000 | 8.4977% | 2,650,000 | 2,650,000 | | 5 | Sichuan Guotou Asset Management Co., Ltd. | State-owned Legal Entity | 3,534,300 | 0 | 3,534,300 | 5.6667% | 1,767,150 | 1,767,150 | | 6 | Fu Bin | Domestic Natural Person | 1,777,070 | 0 | 1,777,070 | 2.8492% | 1,777,070 | 0 | | 7 | Hu Gang | Domestic Natural Person | 1,697,651 | 0 | 1,697,651 | 2.7219% | 1,697,651 | 0 | | 8 | Zhang Chuanliang | Domestic Natural Person | 1,413,720 | 0 | 1,413,720 | 2.2667% | 706,860 | 706,860 | | 9 | Wang Jimin | Domestic Natural Person | 1,117,500 | -85,793 | 1,031,707 | 1.6542% | 550,000 | 481,707 | | 10 | Fu Li | Domestic Natural Person | 808,758 | 0 | 808,758 | 1.2967% | 808,758 | 0 | | Total | - | - | 40,388,148 | -85,793 | 40,302,355 | 64.6182% | 34,696,638 | 5,605,717 | - No shares held by shareholders with over 5% ownership or the top ten shareholders are pledged or judicially frozen[13] Preferred Stock Information The company had no preferred stock outstanding during the reporting period - The company has no preferred stock information existing in the current period[13] Significant Events This section outlines the compliance status of various significant matters, including litigation, related party transactions, and equity incentive plans Compliance Status of Significant Matters | Matter | Existed in Reporting Period | Underwent Internal Review Procedure | Timely Disclosure Obligation Fulfilled | Interim Announcement Index | | :--- | :--- | :--- | :--- | :--- | | Litigation and Arbitration Matters | Yes | N/A | N/A | - | | Forecast and Execution of Routine Related Party Transactions | Yes | Timely fulfilled in advance | Yes | 2024-024 | | Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures | Yes | Timely fulfilled in advance | Yes | 2024-043 | | Disclosed Commitments | Yes | Timely fulfilled in advance | Yes | 2024-061 | | External Guarantees | No | N/A | N/A | - | | Provision of Loans to External Parties | No | N/A | N/A | - | | Occupation or Transfer of Company Funds, Assets, and Other Resources by Shareholders and Their Related Parties | No | N/A | N/A | - | | Other Significant Related Party Transactions | No | N/A | N/A | - | | Acquisition, Disposal of Assets, External Investments Approved by Shareholders' Meeting, or Business Combinations Occurring in This Quarter | No | N/A | N/A | - | | Share Repurchase Matters | No | N/A | N/A | - | | Assets Seized, Detained, Frozen, Mortgaged, or Pledged | No | N/A | N/A | - | | Matters Under Investigation or Penalized | No | N/A | N/A | - | | Breach of Trust | No | N/A | N/A | - | | Other Significant Matters | No | N/A | N/A | - | Financial Accounting Report This section presents the company's unaudited financial statements, including the balance sheet, income statement, and cash flow statement Audit Status of Financial Report This quarterly financial report has not been audited - This quarterly financial report has not been audited[15] Financial Statements This section includes the consolidated balance sheet as of September 30, 2024, and the consolidated income statement and cash flow statement for January-September 2024, detailing assets, liabilities, owner's equity, operating performance, and cash flows at the end of the reporting period Balance Sheet This balance sheet presents the company's financial position, including assets, liabilities, and equity, as of September 30, 2024, compared to December 31, 2023 Consolidated Balance Sheet (Sept 30, 2024 vs. Dec 31, 2023) | Item | Sept 30, 2024 (RMB) | Dec 31, 2023 (RMB) | | :--- | :--- | :--- | | Current Assets: | | | | Cash and Cash Equivalents | 75,562,432.86 | 37,002,668.64 | | Notes Receivable | 2,019,069.99 | 8,171,320.28 | | Accounts Receivable | 235,660,625.81 | 124,662,096.05 | | Prepayments | 4,648,066.14 | 6,123,507.77 | | Other Receivables | 2,670,741.37 | 2,940,040.34 | | Inventories | 98,640,019.30 | 112,436,572.87 | | Contract Assets | 53,370.00 | 34,030.00 | | Other Current Assets | 387,921.09 | 1,689,576.44 | | Total Current Assets | 419,642,246.56 | 293,059,812.39 | | Non-Current Assets: | | | | Fixed Assets | 24,181,585.29 | 22,021,581.77 | | Right-of-Use Assets | 2,415,368.82 | 3,344,071.82 | | Intangible Assets | 1,093,653.07 | 1,409,911.00 | | Long-Term Deferred Expenses | 491,816.82 | 529,439.53 | | Deferred Income Tax Assets | 5,457,031.95 | 4,033,340.86 | | Other Non-Current Assets | 901,104.61 | 257,062.50 | | Total Non-Current Assets | 34,540,560.56 | 31,595,407.48 | | Total Assets | 454,182,807.12 | 324,655,219.87 | | Current Liabilities: | | | | Short-Term Borrowings | - | 50,074,222.21 | | Notes Payable | 5,142,375.00 | - | | Accounts Payable | 35,246,803.02 | 20,690,037.35 | | Contract Liabilities | 7,049,088.05 | 15,263,981.02 | | Employee Benefits Payable | 13,973,608.39 | 15,561,105.35 | | Taxes Payable | 3,801,827.70 | 4,993,032.10 | | Other Payables | 4,236,488.35 | 3,963,782.35 | | Non-Current Liabilities Due Within One Year | 35,538,500.25 | 1,565,028.47 | | Other Current Liabilities | 29,336.28 | 17,946.90 | | Total Current Liabilities | 105,018,027.04 | 112,129,135.75 | | Non-Current Liabilities: | | | | Long-Term Borrowings | 60,000,000.00 | 44,304,427.08 | | Lease Liabilities | 1,175,525.37 | 1,947,891.81 | | Deferred Income Tax Liabilities | 362,305.33 | 501,610.77 | | Total Non-Current Liabilities | 61,537,830.70 | 46,753,929.66 | | Total Liabilities | 166,555,857.74 | 158,883,065.41 | | Shareholders' Equity: | | | | Share Capital | 63,750,000.00 | 53,170,000.00 | | Capital Reserve | 95,350,670.74 | 16,353,284.24 | | Less: Treasury Stock | 2,584,750.00 | 3,692,500.00 | | Surplus Reserve | 14,818,641.47 | 14,818,641.47 | | Retained Earnings | 116,292,387.17 | 85,122,728.75 | | Total Equity Attributable to Parent Company Shareholders | 287,626,949.38 | 165,772,154.46 | | Total Shareholders' Equity | 287,626,949.38 | 165,772,154.46 | | Total Liabilities and Shareholders' Equity | 454,182,807.12 | 324,655,219.87 | Income Statement This income statement details the company's revenues, costs, and profits for the nine months ended September 30, 2024, compared to the prior year Consolidated Income Statement (Jan-Sept 2024 vs. Jan-Sept 2023) | Item | Jan-Sept 2024 (RMB) | Jan-Sept 2023 (RMB) | | :--- | :--- | :--- | | I. Total Operating Revenue | 202,818,843.83 | 125,813,256.70 | | Including: Operating Revenue | 202,818,843.83 | 125,813,256.70 | | II. Total Operating Costs | 155,029,580.24 | 89,105,878.70 | | Including: Operating Costs | 116,423,404.84 | 55,005,775.29 | | Taxes and Surcharges | 1,257,456.95 | 1,051,357.85 | | Selling Expenses | 13,352,441.96 | 11,034,579.69 | | Administrative Expenses | 10,288,347.04 | 9,863,184.82 | | Research and Development Expenses | 10,988,000.99 | 10,068,321.72 | | Financial Expenses | 2,719,928.46 | 2,082,659.33 | | Add: Other Income | 2,521,039.75 | 1,043,724.76 | | Credit Impairment Losses | -9,272,341.69 | -3,310,582.33 | | Asset Impairment Losses | -5,592,938.06 | -6,232,667.81 | | III. Operating Profit | 35,445,023.59 | 28,207,852.62 | | Add: Non-Operating Income | 556.48 | 1,669,576.50 | | Less: Non-Operating Expenses | 19,124.95 | 17,445.50 | | IV. Total Profit | 35,426,455.12 | 29,859,983.62 | | Less: Income Tax Expense | 4,256,796.70 | 3,125,029.93 | | V. Net Profit | 31,169,658.42 | 26,734,953.69 | | Net Profit Attributable to Parent Company Shareholders | 31,169,658.42 | 26,734,953.69 | | VII. Total Comprehensive Income | 31,169,658.42 | 26,734,953.69 | | Total Comprehensive Income Attributable to Parent Company Shareholders | 31,169,658.42 | 26,734,953.69 | | VIII. Earnings Per Share: | | | | Basic Earnings Per Share (RMB/share) | 0.5752 | 0.5050 | | Diluted Earnings Per Share (RMB/share) | 0.5752 | 0.5050 | Cash Flow Statement This cash flow statement details the company's cash inflows and outflows from operating, investing, and financing activities for the nine months ended September 30, 2024 Consolidated Cash Flow Statement (Jan-Sept 2024 vs. Jan-Sept 2023) | Item | Jan-Sept 2024 (RMB) | Jan-Sept 2023 (RMB) | | :--- | :--- | :--- | | I. Cash Flows from Operating Activities: | | | | Cash Received from Sales of Goods and Services | 95,484,000.63 | 113,661,006.00 | | Cash Received Relating to Other Operating Activities | 2,058,797.26 | 4,526,464.44 | | Subtotal of Cash Inflows from Operating Activities | 97,542,797.89 | 118,187,470.44 | | Cash Paid for Goods and Services | 77,204,670.48 | 91,813,213.07 | | Cash Paid to and on Behalf of Employees | 41,004,811.74 | 36,561,500.37 | | Cash Paid for Taxes and Levies | 17,537,492.72 | 11,161,232.34 | | Cash Paid Relating to Other Operating Activities | 7,755,524.66 | 5,478,604.00 | | Subtotal of Cash Outflows from Operating Activities | 143,502,499.60 | 145,014,549.78 | | Net Cash Flow from Operating Activities | -45,959,701.71 | -26,827,079.34 | | II. Cash Flows from Investing Activities: | | | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 3,543,650.77 | 7,456,998.54 | | Subtotal of Cash Outflows from Investing Activities | 3,543,650.77 | 7,456,998.54 | | Net Cash Flow from Investing Activities | -3,543,650.77 | -7,456,998.54 | | III. Cash Flows from Financing Activities: | | | | Cash Received from Investments | 96,777,492.00 | 3,692,500.00 | | Cash Received from Borrowings | 84,800,000.00 | 70,000,000.00 | | Subtotal of Cash Inflows from Financing Activities | 181,577,492.00 | 73,692,500.00 | | Cash Paid for Repayment of Debts | 84,800,000.00 | 45,000,000.00 | | Cash Paid for Distribution of Dividends, Profits, or Interest Payments | 3,019,412.98 | 2,283,492.33 | | Cash Paid Relating to Other Financing Activities | 5,694,962.32 | 2,072,481.83 | | Subtotal of Cash Outflows from Financing Activities | 93,514,375.30 | 49,355,974.16 | | Net Cash Flow from Financing Activities | 88,063,116.70 | 24,336,525.84 | | V. Net Increase in Cash and Cash Equivalents | 38,559,764.22 | -9,947,552.04 | | Add: Beginning Balance of Cash and Cash Equivalents | 37,002,668.64 | 38,326,070.51 | | VI. Ending Balance of Cash and Cash Equivalents | 75,562,432.86 | 28,378,518.47 |