杭州解百(600814) - 2016 Q3 - 季度财报

Important Notice The company's board and management guarantee the report's truthfulness and completeness, which remains unaudited Statement on Report Authenticity and Audit Status The board and management guarantee the report's truthfulness and completeness, confirming it is unaudited - The company's board of directors, supervisory board, and all senior executives guarantee the quarterly report's content is true, accurate, and complete, free from false records, misleading statements, or major omissions[5] - This company's Q3 2016 report is unaudited[5] Company's Key Financial Data and Shareholder Changes This section details the company's financial performance and shareholder structure as of Q3 2016 Key Financial Data Q3 2016 total assets were 4.54 billion CNY; revenue and net profit declined, but operating cash flow significantly improved Key Financial Indicators for Q1-Q3 2016 | Indicator | Year-to-date (Jan-Sep) | Prior Year (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,596,969,193.16 CNY | 3,834,632,612.29 CNY | -6.20% | | Net Profit Attributable to Shareholders | 135,680,302.42 CNY | 170,352,172.67 CNY | -20.35% | | Net Profit Attributable to Shareholders (Excl. Non-recurring) | 130,341,438.35 CNY | 156,944,147.43 CNY | -16.95% | | Net Cash Flow from Operating Activities | 235,321,281.35 CNY | -3,085,200.55 CNY | 7,727.42% | | Basic Earnings Per Share | 0.19 CNY/share | 0.24 CNY/share | -20.83% | | Weighted Average Return on Net Assets | 6.64% | 8.93% | Decrease of 2.29 percentage points | Non-recurring Gains and Losses for Q1-Q3 2016 | Item | Year-to-date Amount (Jan-Sep) (CNY) | | :--- | :--- | | Disposal gains/losses on non-current assets | -854,935.69 | | Government grants recognized in current profit/loss | 1,843,988.40 | | Investment income (non-core business related) | 6,344,806.43 | | Other non-operating income and expenses | 1,047,619.05 | | Income tax impact | -2,039,903.74 | | Impact on minority interests (after tax) | -1,002,710.38 | | Total | 5,338,864.07 | Shareholder Holdings The company had 28,522 shareholders; Hangzhou Commercial Tourism Group Co., Ltd. is the controlling shareholder - As of the end of the reporting period, the company had a total of 28,522 shareholders[12] Top Two Shareholder Holdings | Shareholder Name | Shares Held at Period End | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Hangzhou Commercial Tourism Group Co., Ltd. | 404,643,737 | 56.59 | State-owned Legal Person | | Hangzhou Commercial Asset Management (Co., Ltd.) | 81,791,279 | 11.44 | State | - Hangzhou Commercial Asset Management (Co., Ltd.) is a subsidiary of Hangzhou Commercial Tourism Group Co., Ltd., indicating an associated relationship[13] Preferred Shareholder Status The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders during this reporting period[13] Significant Matters This section details significant financial changes, key initiative progress, and commitment fulfillment Analysis of Significant Changes in Key Financial Statement Items and Indicators Operating cash flow significantly increased; investment income sharply declined, and non-operating income rose Explanation of Significant Financial Indicator Changes | Item | Change (%) | Explanation of Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 7,727.42% | Due to increased cash inflows from operating activities | | Investment Income | -87.92% | Primarily due to subsidiary's entrusted loan income in the prior year | | Non-operating Income | 649.93% | Mainly due to increased government grants | | Financial Expenses | 64.36% | Due to decreased interest income from deposits | | Cash Paid for Investments | -97.09% | Primarily due to subsidiary's entrusted loan investment in the prior year | Progress on Significant Matters Progress on 'Quan Cheng Medical' strategic cooperation; Hangzhou Tower property lease and financial assistance remain pending - The company's 45%-owned Hangzhou Quan Cheng International Health Medical Management Co., Ltd. ('Quan Cheng Medical') signed a strategic cooperation framework with Sir Run Run Shaw Hospital, with preparatory work progressing smoothly[15] - The lease of commercial property at Wulin Plaza No. 11 by controlling sub-subsidiary Hangzhou Tower Co., Ltd. is actively progressing, but the lease contract has not yet been formally signed[16] - Hangzhou Tower Co., Ltd.'s proposed 120 million CNY financial assistance to Hangzhou Baida Real Estate Co., Ltd. has not yet been implemented as of the report disclosure date[16] Fulfillment of Commitments The company and its controlling shareholder are fulfilling major asset restructuring commitments - Controlling shareholder Hangzhou Commercial Tourism Group Co., Ltd. committed to a 36-month lock-up period for shares acquired in the major asset restructuring, effective September 26, 2014, which is currently being fulfilled[17] - The controlling shareholder committed to minimizing related party transactions with the company and ensuring their fairness[17] - The controlling shareholder made a net profit commitment for Hangzhou Tower for 2014-2016, with share compensation if targets are not met[19] Performance Forecast The company does not anticipate a cumulative net profit loss or significant change in the next reporting period - The company has not issued any warning regarding a potential cumulative net profit loss or significant change for the period from the beginning of the year to the end of the next reporting period[20] Appendix This section includes the unaudited consolidated and parent company financial statements for Q3 2016 Financial Statements This chapter presents the unaudited consolidated and parent company financial statements for Q3 2016 Consolidated Balance Sheet Consolidated total assets were 4.54 billion CNY, liabilities 1.70 billion CNY, and parent equity 2.07 billion CNY Key Items from Consolidated Balance Sheet (September 30, 2016) | Item | Period-End Balance (CNY) | Year-Start Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 4,538,705,086.53 | 4,557,464,305.27 | | Total Liabilities | 1,700,552,396.67 | 1,832,395,148.59 | | Total Equity Attributable to Parent Company Owners | 2,070,182,481.25 | 2,006,004,854.63 | Parent Company Balance Sheet Parent company total assets were 2.25 billion CNY, liabilities 388 million CNY, and owner's equity 1.86 billion CNY Key Items from Parent Company Balance Sheet (September 30, 2016) | Item | Period-End Balance (CNY) | Year-Start Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 2,249,076,872.00 | 2,245,452,492.08 | | Total Liabilities | 388,159,805.25 | 388,445,541.75 | | Total Owner's Equity | 1,860,917,066.75 | 1,857,006,950.33 | Consolidated Income Statement Consolidated operating revenue was 3.60 billion CNY, total profit 305 million CNY, and net profit attributable to parent owners 136 million CNY Key Items from Consolidated Income Statement (Jan-Sep 2016) | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | | :--- | :--- | :--- | | I. Total Operating Revenue | 3,596,969,193.16 | 3,834,632,612.29 | | III. Operating Profit | 302,507,263.76 | 365,862,592.35 | | IV. Total Profit | 305,300,087.50 | 361,127,517.76 | | Net Profit Attributable to Parent Company Owners | 135,680,302.42 | 170,352,172.67 | Parent Company Income Statement Parent company operating revenue was 606 million CNY, net profit 75.41 million CNY, and investment income 71.13 million CNY Key Items from Parent Company Income Statement (Jan-Sep 2016) | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | | :--- | :--- | :--- | | I. Operating Revenue | 605,550,088.70 | 796,778,890.80 | | Investment Income | 71,132,226.09 | 80,329,198.54 | | IV. Net Profit | 75,412,792.22 | 103,348,334.66 | Consolidated Cash Flow Statement Consolidated net cash flow from operating activities improved to 235 million CNY, with net cash outflows from investing and financing Key Items from Consolidated Cash Flow Statement (Jan-Sep 2016) | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 235,321,281.35 | -3,085,200.55 | | Net Cash Flow from Investing Activities | -17,301,114.18 | 503,052,693.57 | | Net Cash Flow from Financing Activities | -115,964,505.02 | -125,839,837.26 | | Cash and Cash Equivalents at Period End | 885,384,709.13 | 1,419,491,798.20 | Parent Company Cash Flow Statement Parent company net cash flow from operating activities improved to 91.67 million CNY, with net cash outflows from investing and financing Key Items from Parent Company Cash Flow Statement (Jan-Sep 2016) | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 91,672,554.34 | -45,681,006.61 | | Net Cash Flow from Investing Activities | -56,242,232.96 | 17,131,537.45 | | Net Cash Flow from Financing Activities | -71,502,675.80 | -75,077,809.74 | | Cash and Cash Equivalents at Period End | 7,922,688.35 | 18,599,527.56 | Audit Report This quarterly financial report has not been audited - The report explicitly states that this quarterly financial report is not subject to an audit report, meaning it is unaudited[41]