曙光股份(600303) - 2016 Q3 - 季度财报

Important Notice This section provides key assurances regarding the truthfulness and completeness of the quarterly report - The company's Board of Directors, Supervisory Board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or material omissions[6] - The company's responsible person, head of accounting work, and head of accounting department ensure the truthfulness, accuracy, and completeness of the financial statements[6] - This company's Q3 2016 report is unaudited[6] Company's Key Financial Data and Shareholder Changes This section presents the company's key financial performance indicators and changes in shareholder structure Key Financial Data Q1-Q3 2016 revenue slightly declined, net profit turned profitable at CNY 34.59 million from non-recurring gains, despite negative operating cash flow Key Financial Data for Q1-Q3 2016 | Indicator | Jan-Sep (Yuan) | Prior Year Jan-Sep (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,331,049,822.50 Yuan | 2,377,418,499.60 Yuan | -1.95% | | Net Profit Attributable to Shareholders | 34,586,014.56 Yuan | -59,827,507.20 Yuan | N/A (Turned Profitable) | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -164,369,142.05 Yuan | -169,262,547.26 Yuan | N/A | | Net Cash Flow from Operating Activities | -656,399,107.49 Yuan | -244,508,866.88 Yuan | N/A (Net Outflow Increased) | | Basic EPS (Yuan/share) | 0.05 Yuan | -0.10 Yuan | N/A (Turned Profitable) | | Indicator | Period-end | Prior Year-end | Period-end vs. Year-start Change (%) | | Total Assets | 9,662,912,892.07 Yuan | 10,099,293,957.76 Yuan | -4.32% | | Net Assets Attributable to Shareholders | 2,767,296,651.13 Yuan | 2,366,986,422.42 Yuan | 16.91% | Non-recurring Gains and Losses for Q1-Q3 2016 | Item | Jan-Sep Amount (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 207,653,482.10 Yuan | | Government Grants Recognized in Current P&L | 21,512,336.56 Yuan | | Other Non-operating Income/Expenses | 912,085.58 Yuan | | Income Tax Impact | -27,806,836.23 Yuan | | Impact on Minority Interests (After Tax) | -3,315,911.40 Yuan | | Total | 198,955,156.61 Yuan | Shareholder Information As of the reporting period, the company had 114,324 shareholders; Liaoning Shuguang Group, the largest, held 21.27% of shares, mostly pledged - As of the reporting period, the company had 114,324 shareholders[8] Top Three Shareholders' Shareholding | Shareholder Name | Shares Held at Period End | Shareholding Ratio (%) | Pledge or Freeze Status | | :--- | :--- | :--- | :--- | | Liaoning Shuguang Group Co., Ltd. | 143,713,300 | 21.27% | Pledged 115,350,000 shares | | Shenzhen Zhongneng Green Qihang No.1 Investment Enterprise (Limited Partnership) | 48,640,915 | 7.20% | Pledged 48,640,000 shares | | Changxin Fund - Bank of Ningbo - Liaoning Shuguang Automobile Group Co., Ltd. | 6,639,000 | 0.98% | Unknown | Significant Events This section details major changes in financial statement items, progress of significant corporate events, and fulfillment of commitments Analysis of Significant Changes in Key Financial Statement Items and Indicators Significant changes in balance sheet items and investment income drove profitability, while finance costs rose and non-operating income declined - Reasons for Balance Sheet Item Changes: * Prepayments: increased by 76.98% from the beginning of the period, primarily due to increased prepayments for purchased materials and distributed vehicles[10][11] * Other Receivables: increased by 64.40% from the beginning of the period, mainly due to increased sales deposits from subsidiaries and finance lease deposits from the company[10][11] * Assets Held for Sale: decreased by 100% from the beginning of the period, primarily due to full transfer in the current period[10][11] * Available-for-sale Financial Assets: increased by 126.74% from the beginning of the period, mainly due to capital injection into an associate[10][11] * Specific Payables: decreased by 61.71% from the beginning of the period, mainly due to government interest subsidies transferred to deferred income[10][11] - Reasons for Income Statement Item Changes: * Finance Costs: increased by 34.80% year-on-year, primarily due to increased guarantee fees and financing charges[11][12] * Investment Income: Increased significantly, primarily due to gains from the transfer of Changzhou Huanghai equity in the current period[11][12] * Non-operating Income: decreased by 75.50% year-on-year, primarily due to higher gains from disposal of land and buildings in the same period last year[11][12] * Non-operating Expenses: increased by 2500.68% year-on-year, primarily due to losses from disposal of fixed assets and properties in the current period[11][12] Progress of Significant Events The company terminated its planned acquisition of Yineng Electronics due to non-fulfillment, and will transfer its stake, expecting increased non-operating income and investment gains - The company originally planned to acquire Yineng Electronics 70.423% of the equity through share issuance and cash payment, but the acquisition failed due to non-fulfillment of the asset purchase agreement by some Yineng Electronics shareholders[13][14] - The company signed a Termination Agreement with the counterparty on October 19, 2016, and decided to transfer its Yineng Electronics equity, which will lead to changes in some fundraising projects but is expected to increase the company's non-operating income and investment gains[14][15] Fulfillment of Commitments The company and its major shareholders continued to fulfill commitments regarding horizontal competition, employee stock plans, and private placement financing - The 'Commitment Letter on Avoiding Horizontal Competition' issued by the company's actual controller and major shareholders in 2012 is currently being fulfilled[16] - The company commits to supervising the legal and compliant source of funds for the employee stock ownership plan, ensuring no structured arrangements, and pledges not to provide financial assistance or compensation to subscribers in private placements[17] Appendix This appendix provides the unaudited financial statements for the reporting period, including balance sheets, income statements, and cash flow statements Financial Statements This section presents the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q3 2016 Consolidated Balance Sheet As of September 30, 2016, total assets were CNY 9.66 billion (down 4.32%), while net assets attributable to shareholders increased 16.91% to CNY 2.77 billion Key Items of Consolidated Balance Sheet | Item | Period-end Balance (Yuan) | Year-start Balance (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 9,662,912,892.07 | 10,099,293,957.76 | -4.32% | | Total Liabilities | 6,725,787,253.50 | 7,569,988,613.80 | -11.15% | | Total Equity Attributable to Parent Company Owners | 2,767,296,651.13 | 2,366,986,422.42 | 16.91% | Parent Company Balance Sheet As of September 30, 2016, parent company total assets were CNY 5.25 billion (down 3.36%), and total owner's equity was CNY 2.64 billion (up 14.53%) Key Items of Parent Company Balance Sheet | Item | Period-end Balance (Yuan) | Year-start Balance (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 5,244,921,438.60 | 5,427,171,504.27 | -3.36% | | Total Liabilities | 2,608,563,976.21 | 3,125,385,367.14 | -16.54% | | Total Owner's Equity | 2,636,357,462.39 | 2,301,786,137.13 | 14.53% | Consolidated Income Statement In Q1-Q3 2016, operating revenue was CNY 2.33 billion (down 1.95%); net profit attributable to parent company owners turned profitable at CNY 34.59 million due to increased investment income Core Data of Consolidated Income Statement (Jan-Sep) | Item | Jan-Sep 2016 (Yuan) | Jan-Sep 2015 (Yuan) | Change Status | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,331,049,822.50 | 2,377,418,499.60 | -1.95% | | Operating Profit | 69,376,393.49 | -168,599,452.63 | Turned Profitable | | Total Profit | 56,609,034.08 | -28,852,759.96 | Turned Profitable | | Net Profit Attributable to Parent Company Owners | 34,586,014.56 | -59,827,507.20 | Turned Profitable | | Basic EPS (Yuan/share) | 0.05 | -0.10 | Turned Profitable | Parent Company Income Statement In Q1-Q3 2016, parent company operating revenue was CNY 501 million (down 9.33%); net profit shifted from a CNY 19.43 million profit to a CNY 30.27 million loss Core Data of Parent Company Income Statement (Jan-Sep) | Item | Jan-Sep 2016 (Yuan) | Jan-Sep 2015 (Yuan) | Change Status | | :--- | :--- | :--- | :--- | | Operating Revenue | 500,937,983.29 | 552,496,185.34 | -9.33% | | Operating Profit | -31,460,383.71 | -57,338,351.82 | Loss Narrowed | | Total Profit | -30,036,846.34 | 24,643,377.89 | Shifted from Profit to Loss | | Net Profit | -30,274,055.34 | 19,433,827.38 | Shifted from Profit to Loss | Consolidated Cash Flow Statement In Q1-Q3 2016, net cash flow from operating activities was -CNY 656 million, with increased outflow; cash primarily came from financing activities, with a net inflow of CNY 548 million Consolidated Cash Flow Statement Summary (Jan-Sep) | Item | Jan-Sep 2016 (Yuan) | Jan-Sep 2015 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -656,399,107.49 | -244,508,866.88 | | Net Cash Flow from Investing Activities | -89,291,165.61 | -437,971,094.15 | | Net Cash Flow from Financing Activities | 547,747,710.85 | 500,758,339.07 | | Net Increase in Cash and Cash Equivalents | -197,497,074.77 | -177,470,239.04 | Parent Company Cash Flow Statement In Q1-Q3 2016, parent company net cash flow from operating activities was -CNY 644 million, a significant deterioration from prior year's inflow; financing activities provided CNY 674 million net inflow Parent Company Cash Flow Statement Summary (Jan-Sep) | Item | Jan-Sep 2016 (Yuan) | Jan-Sep 2015 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -644,230,789.45 | 300,291,128.07 | | Net Cash Flow from Investing Activities | -43,040,047.57 | -11,021,379.61 | | Net Cash Flow from Financing Activities | 673,893,362.48 | -532,461,977.13 | Audit Report This quarterly report is unaudited - The report explicitly states that this financial report is unaudited[39]