苏州高新(600736) - 2016 Q1 - 季度财报

Important Notes Board Statement & Audit Opinion The company's management confirms the authenticity, accuracy, and completeness of this unaudited quarterly report - The Board of Directors, Supervisory Committee, and senior management guarantee the report's content is true, accurate, and complete, and assume legal responsibility[4] - The company's responsible person, chief accountant, and head of the accounting department guarantee the financial statements are true, accurate, and complete[6] - This first-quarter report is unaudited[6] Key Financial Data and Shareholder Changes Key Financial Data In Q1 2016, revenue and net profit grew significantly, but profit growth was mainly driven by non-recurring gains from a land reserve acquisition Key Financial Metrics | Indicator | Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,292,028,990.34 | 792,054,006.01 | 63.12% | | Net Profit Attributable to Shareholders | 80,009,815.78 | 15,697,581.01 | 409.70% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -28,340,030.52 | 13,408,131.13 | -311.36% | | Net Cash Flow from Operating Activities | 147,944,095.04 | -741,207,874.25 | 119.96% | | Basic Earnings Per Share (RMB/Share) | 0.0756 | 0.0148 | 410.81% | Non-recurring Gains and Losses | Item | Current Period Amount (RMB) | Notes | | :--- | :--- | :--- | | Other non-operating income and expenses | 189,757,145.59 | Suzhou Amusement Land received RMB 183.53 million from land reserve income | | Minority interest impact (after tax) | -35,328,646.82 | | | Income tax impact | -45,857,512.02 | | | Total | 108,349,846.30 | | Shareholder Information As of the reporting date, the company had 86,416 shareholders, with Suzhou High-tech Zone Economic Development Group Corporation as the controlling shareholder - The total number of shareholders was 86,416 at the end of the reporting period[9] Top Shareholders | Shareholder Name | Shareholding | Ownership Ratio (%) | | :--- | :--- | :--- | | Suzhou High-tech Zone Economic Development Group Corporation | 484,477,094 | 40.57% | | Shanghai Baogang Zhangjiagang Bonded Zone Equity Investment Fund Co, Ltd | 33,962,513 | 2.84% | | Huabao Trust Co, Ltd | 26,294,859 | 2.20% | | Central Huijin Asset Management Ltd | 23,032,000 | 1.93% | - The controlling shareholder, SND Group, also holds 100% of Suzhou New District Innovation Technology Investment Management Co, Ltd, constituting a related-party relationship[10] Significant Matters Analysis of Significant Changes in Financial Statements Significant financial changes were driven by business expansion, financing activities, real estate sales, and a major land reserve income Balance Sheet Item Changes | Balance Sheet Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Other Current Assets | 191.10% | Investment of idle funds in short-term bank wealth management products | | Advances from Customers | 73.22% | Significant increase in contracted sales of commercial properties | | Other Payables | 238.46% | Increased intercompany balances from newly consolidated subsidiaries | | Bonds Payable | 52.83% | Completion of a RMB 1 billion corporate bond issuance | Income Statement Item Changes | Income Statement Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | 63.12% | Significant year-over-year growth in contracted sales of commercial properties | | Operating Costs | 79.07% | Corresponding increase with the recognition of operating revenue | | Investment Income | -285.52% | Operating losses from newly established investee companies | | Non-operating Income | 6,421.61% | Government acquisition of a portion of subsidiary Suzhou Amusement Land's operating land | | Net Profit Attributable to Parent Company Owners | 409.70% | Primarily driven by the substantial increase in non-operating income | Cash Flow Statement Item Changes | Cash Flow Statement Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 119.96% | Significant increase in cash collection from real estate sales | | Net Cash Flow from Investing Activities | -126.93% | Investment of idle funds in short-term bank wealth management products | Progress of Significant Matters The company advanced two major capital operations, including an asset restructuring and a successful RMB 1 billion bond issuance - The asset restructuring has received SASAC approval, passed the shareholders' meeting, and received a feedback notice from the CSRC on April 1, 2016[15] - The company completed the public issuance of RMB 1 billion in corporate bonds ("16 Suxin Bond") with a coupon rate of 4.00%[15] Fulfillment of Commitments The company and its controlling shareholder have strictly fulfilled commitments related to the 2014 refinancing regarding competition and land use - The company and its controlling shareholder have strictly fulfilled commitments made during the 2014 non-public offering concerning the resolution of horizontal competition and real estate development land[17] Performance Forecast The company has not issued a warning of potential losses or significant changes in cumulative net profit for the upcoming period - The company has not issued a warning regarding significant performance changes or potential losses[17] Appendix Financial Statements This appendix contains the unaudited consolidated and parent company financial statements as of March 31, 2016 Consolidated Balance Sheet As of March 31, 2016, total assets reached RMB 21.64 billion, and total liabilities were RMB 15.21 billion | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 21,640,566,522.19 | 20,242,592,532.85 | | Total Liabilities | 15,213,794,145.98 | 14,329,475,222.15 | | Equity Attributable to Parent Company Owners | 5,008,993,424.73 | 4,928,694,899.99 | Parent Company Balance Sheet As of March 31, 2016, the parent company's total assets were RMB 14.31 billion, and total liabilities were RMB 10.39 billion | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 14,310,553,862.90 | 13,815,135,932.14 | | Total Liabilities | 10,392,205,082.60 | 9,878,652,133.89 | | Total Owners' Equity | 3,918,348,780.30 | 3,936,483,798.25 | Consolidated Income Statement In Q1 2016, the company achieved total operating revenue of RMB 1.29 billion and a net profit of RMB 80.01 million | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,292,028,990.34 | 792,054,006.01 | | Operating Profit | -22,566,206.18 | 9,496,022.76 | | Non-operating Income | 191,264,685.60 | 2,932,781.03 | | Total Profit | 166,969,798.96 | 12,270,007.44 | | Net Profit Attributable to Parent Company Owners | 80,009,815.78 | 15,697,581.01 | Parent Company Income Statement In Q1 2016, the parent company recorded an operating loss of RMB 18.15 million and a net loss of RMB 18.14 million | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 38,197,320.94 | 0.00 | | Finance Expenses | 43,297,447.62 | 15,252,420.90 | | Investment Income | -3,708,187.01 | 9,419,418.84 | | Net Profit | -18,135,017.95 | -11,313,846.42 | Consolidated Cash Flow Statement In Q1 2016, net operating cash flow was RMB 147.94 million, a significant improvement due to increased sales collections | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 147,944,095.04 | -741,207,874.25 | | Net Cash Flow from Investing Activities | -477,176,003.98 | -210,278,379.72 | | Net Cash Flow from Financing Activities | 771,985,112.95 | 1,179,706,098.11 | | Net Increase in Cash and Cash Equivalents | 442,753,204.01 | 228,219,844.14 | Parent Company Cash Flow Statement In Q1 2016, the parent company's net cash outflow from operations was RMB 173.96 million, with a net cash decrease of RMB 4.13 million | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -173,962,440.18 | -325,080,377.36 | | Net Cash Flow from Investing Activities | -515,847,097.11 | -187,833,915.46 | | Net Cash Flow from Financing Activities | 685,676,345.71 | 473,461,665.90 | | Net Increase in Cash and Cash Equivalents | -4,133,191.58 | -39,452,626.92 | Audit Report This quarterly report has not been audited - The quarterly financial report is unaudited[41]