百利电气(600468) - 2018 Q3 - 季度财报

Important Notice Declaration on the Authenticity, Accuracy, and Completeness of the Quarterly Report The Board of Directors, Board of Supervisors, and all senior management guarantee the authenticity, accuracy, and completeness of this unaudited Q3 report - All directors, supervisors, and senior management confirm the report's content is true, accurate, and complete, and assume legal responsibility[9] - Company head Shi Qi, chief accountant Li Jun, and head of the accounting department Hong Bo guarantee the authenticity of the financial statements[9] - The company's Q3 2018 report is unaudited[9] Company Profile Key Financial Data In the first three quarters of 2018, revenue grew 9.14% YoY while net profit attributable to shareholders declined by 1.58% Key Financial Data for the First Three Quarters of 2018 | Indicator | Jan-Sep 2018 (RMB) | Jan-Sep 2017 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,039,213,500.71 | 952,194,848.07 | 9.14% | | Net Profit Attributable to Shareholders | 46,681,498.47 | 47,431,374.67 | -1.58% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 29,203,906.14 | 33,272,651.57 | -12.23% | | Net Cash Flow from Operating Activities | -79,034,837.26 | -160,393,576.79 | N/A | | Basic Earnings Per Share (RMB/Share) | 0.0576 | 0.0585 | -1.54% | | Weighted Average Return on Equity (%) | 2.56% | 2.68% | Decreased by 0.12 percentage points | Non-recurring Profit and Loss Items (YTD) | Item | Amount (RMB) | Description | | :--- | :--- | :--- | | Government Grants | 8,314,878.44 | Mainly tax refunds received | | Other Non-recurring Items | 11,912,535.78 | Income from short-term, principal-guaranteed bank products using idle raised funds | | Total | 17,477,592.33 | | Shareholder Information As of the reporting period end, the company had 22,402 shareholders, with Tianjin Hydraulic Machinery (Group) Co, Ltd as the controlling shareholder - As of the end of the reporting period, the total number of shareholders was 22,402[10] Top Five Shareholders | Shareholder Name | Shares Held at Period End | Ownership (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Tianjin Hydraulic Machinery (Group) Co., Ltd. | 414,004,907 | 51.04 | State-owned Legal Person | | Tianjin Baili Mechanical Equipment Group Co., Ltd. | 18,689,008 | 2.30 | State-owned Legal Person | | Tianjin Xinhao Investment Development Co., Ltd. | 17,334,165 | 2.14 | State-owned Legal Person | | China Securities Finance Corporation Limited | 15,224,650 | 1.88 | State-owned Legal Person | | Tianhong Fund - ICBC - Tianhong Fund - Dingzeng 116 Asset Management Plan | 13,835,510 | 1.71 | Domestic Non-state-owned Legal Person | - Tianjin Hydraulic Machinery (Group) Co, Ltd and Tianjin Xinhao Investment Development Co, Ltd are subsidiaries of Tianjin Baili Mechanical Equipment Group Co, Ltd, constituting a concert party relationship[11] Significant Events Analysis of Significant Changes in Key Financial Statement Items and Indicators The period saw significant fluctuations in financial items, including a surge in financial expenses and improved operating cash flow Analysis of Significant Changes in Financial Items | Financial Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 54.92 | Increase in operating revenue with payments not yet due | | Financial Expenses | 1,571.80 | Increase in bank borrowings during the reporting period | | Asset Impairment Loss | 69.02 | Increased impairment provisions corresponding to higher revenue and accounts receivable | | Investment Income | 56.29 | Increased net profit from associate companies and income from wealth management products using idle funds | | Net Cash Flow from Operating Activities | 50.72 | Primarily due to the maturity and collection of notes receivable | | Net Cash Flow from Investing Activities | -101.78 | Significant decrease in proceeds from matured short-term bank products compared to the prior year | Progress on Significant Events The company made progress on a previously disclosed contract dispute involving a subsidiary, receiving partial settlement payments - Regarding the lawsuit involving the affiliated sub-subsidiary Jinjiang International Logistics Co, Ltd, an enforcement payment of RMB 3.33 million was received in Q3 2018[13] - As of September 30, 2018, a cumulative total of RMB 6.20 million in settlement payments for this lawsuit has been received[13] Appendix: Financial Statements Financial Statements This appendix contains the unaudited Q3 2018 consolidated and parent company balance sheets, income statements, and cash flow statements Consolidated Balance Sheet As of September 30, 2018, consolidated total assets were RMB 2.81 billion, with a stable balance sheet structure compared to the beginning of the year Key Items from Consolidated Balance Sheet (As of Sep 30, 2018) | Item | Period End Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 2,811,705,740.75 | 2,784,029,217.34 | | Total Liabilities | 844,804,523.62 | 843,311,950.30 | | Total Equity Attributable to Parent Company | 1,829,584,849.93 | 1,810,320,388.98 | | Total Shareholders' Equity | 1,966,901,217.13 | 1,940,717,267.04 | Parent Company Balance Sheet As of September 30, 2018, the parent company's total assets were RMB 2.06 billion, with a low debt-to-asset ratio and significant long-term equity investments Key Items from Parent Company Balance Sheet (As of Sep 30, 2018) | Item | Period End Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 2,062,872,082.63 | 2,027,047,077.23 | | Total Liabilities | 410,082,221.83 | 421,785,107.55 | | Total Shareholders' Equity | 1,652,789,860.80 | 1,605,261,969.68 | Consolidated Income Statement For the first three quarters of 2018, consolidated revenue grew 9.14% YoY to RMB 1.04 billion, while net profit attributable to the parent company slightly decreased Key Items from Consolidated Income Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | I. Total Operating Revenue | 1,039,213,500.71 | 952,194,848.07 | | II. Total Operating Costs | 1,007,513,943.83 | 907,490,380.02 | | III. Operating Profit | 63,719,840.43 | 66,394,319.31 | | V. Net Profit | 54,593,499.62 | 55,536,214.06 | | Net Profit Attributable to Parent Company | 46,681,498.47 | 47,431,374.67 | | Basic Earnings Per Share (RMB/Share) | 0.0576 | 0.0585 | Parent Company Income Statement The parent company's net profit for the first three quarters of 2018 increased by 150.85% YoY, primarily driven by investment income of RMB 89.22 million Key Items from Parent Company Income Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Investment Income | 89,219,302.59 | 45,313,079.25 | | II. Operating Profit | 74,294,621.32 | 28,729,994.12 | | IV. Net Profit | 74,294,638.49 | 29,615,273.61 | Consolidated Cash Flow Statement Net cash flow from operating activities for the first three quarters of 2018 improved significantly but remained negative at RMB -79.03 million Key Items from Consolidated Cash Flow Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -79,034,837.26 | -160,393,576.79 | | Net Cash Flow from Investing Activities | -4,138,320.61 | 233,116,726.00 | | Net Cash Flow from Financing Activities | -34,584,577.80 | -51,101,212.48 | | Net Increase in Cash and Cash Equivalents | -117,757,950.61 | 21,621,700.64 | Parent Company Cash Flow Statement The parent company's net cash flow from operating activities turned positive to RMB 19.51 million in the first three quarters of 2018 Key Items from Parent Company Cash Flow Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 19,512,335.15 | -14,547,490.68 | | Net Cash Flow from Investing Activities | 8,588,947.65 | 198,810,909.60 | | Net Cash Flow from Financing Activities | -26,778,658.25 | -46,739,190.83 | | Net Increase in Cash and Cash Equivalents | 1,322,624.55 | 137,524,228.09 | Audit Report This quarterly financial report has not been audited - The applicability selection indicates that an audit report is not applicable to this report[35]