新疆众和(600888) - 2018 Q1 - 季度财报

Important Notice Statement on Truthfulness, Accuracy, and Completeness of the Report The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assume corresponding legal liabilities; all directors attended the board meeting to review this report, which remains unaudited - The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report and assumes individual and joint legal liabilities[7] - The company's principal officer, head of accounting, and head of the accounting department all guarantee the truthfulness, accuracy, and completeness of the financial statements[7] - This company's Q1 2018 report is unaudited[7] Company Basic Information Key Financial Data In Q1 2018, the company achieved 1.097 billion Yuan in operating revenue, a 14.72% year-on-year increase, with net profit attributable to listed company shareholders reaching 45.04 million Yuan, up 32.49%, and operating cash flow turning positive to 184.18 million Yuan, indicating significant financial improvement, while total assets grew 3.97% from the end of the previous year Key Financial Data for Q1 2018 | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 1,097,145,314.30 | 956,397,914.23 | 14.72% | | Net Profit Attributable to Listed Company Shareholders (Yuan) | 45,041,127.81 | 33,996,072.00 | 32.49% | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-recurring Items) (Yuan) | 39,761,417.57 | 27,985,731.35 | 42.08% | | Net Cash Flow from Operating Activities (Yuan) | 184,179,751.32 | -840,577,988.28 | N/A | | Basic Earnings Per Share (Yuan/share) | 0.0540 | 0.0408 | 32.35% | | Weighted Average Return on Net Assets (%) | 1.3738% | 1.0387% | Increased by 0.3351 percentage points | Non-recurring Gains and Losses for Q1 2018 | Item | Current Period Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 255,564.40 | - | | Government Grants Recognized in Current Profit/Loss | 4,998,487.60 | Primarily due to asset-related government grants received in prior periods recognized as non-operating income in the current period | | Gains/Losses from Debt Restructuring | 152,187.37 | - | | Net Other Non-operating Income and Expenses | -147,422.92 | - | | Total | 5,279,710.24 | - | Shareholder Holdings As of the end of the reporting period, the company had 71,439 shareholders, with TBEA Co., Ltd. as the largest shareholder holding 28.14% of shares, and the top ten shareholders' holdings remained stable with no pledges or freezes, noting an associated relationship between TBEA and Xinjiang Honglian Venture Capital Co., Ltd - As of the end of the reporting period, the company had a total of 71,439 shareholders[11] Top Ten Shareholder Holdings | Shareholder Name | Number of Shares Held | Holding Percentage (%) | | :--- | :--- | :--- | | TBEA Co., Ltd. | 234,565,399 | 28.14 | | Yunnan Bowin Technology Industrial Co., Ltd. | 71,806,365 | 8.61 | | Xinjiang Kaidi Investment Co., Ltd. | 10,140,000 | 1.22 | | Xinjiang Honglian Venture Capital Co., Ltd. | 7,366,020 | 0.88 | | Song Wen | 4,677,460 | 0.56 | | Gu Anqi | 3,744,000 | 0.45 | | Wang Yuhui | 3,623,200 | 0.43 | | Zhang Xiaoling | 2,775,950 | 0.33 | | Zhai Yubao | 1,950,000 | 0.23 | | Gu Yongfei | 1,922,000 | 0.23 | - The largest shareholder, TBEA Co., Ltd., has an associated relationship with Xinjiang Honglian Venture Capital Co., Ltd., but no associated relationship or concerted action with other top ten shareholders[12] Significant Matters Analysis of Significant Changes in Key Financial Indicators During the reporting period, several of the company's financial items experienced significant changes, with accounts receivable increasing 72.67% due to higher sales and long-term borrowings rising 90.38% from new loans, while operating revenue and profit grew 14.72% and 64.27% respectively due to increased main product sales, and operating cash flow significantly improved from -840.58 million Yuan to 184.18 million Yuan primarily due to increased sales collections and futures margin reversals Major Balance Sheet Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Accounts Receivable | 72.67 | Primarily due to increased sales activities | | Other Receivables | -53.82 | Primarily due to recovery of business deposits in the current period | | Other Current Assets | -70.06 | Primarily due to reversal of some futures account margins in the current period | | Notes Payable | -49.46 | Primarily due to commercial bills maturing and accepted in the current period | | Interest Payable | 92.13 | Primarily due to accrued loan interest not yet due for payment in the current period | | Long-term Borrowings | 90.38 | Primarily due to new long-term loans added in the current period | Major Income Statement Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Operating Revenue | 14.72 | Primarily due to increased sales revenue from the company's main products such as electrode foil and electronic aluminum foil in the current period | | Operating Profit | 64.27 | Primarily due to increased sales revenue from the company's main products such as electrode foil and electronic aluminum foil in the current period | | Total Comprehensive Income | 48.89 | Primarily due to increased sales revenue from the company's main products such as electrode foil and electronic aluminum foil in the current period | Major Cash Flow Statement Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 167.67 | Primarily due to increased sales activities and corresponding increase in collections in the current period | | Tax Refunds Received | 629.94 | Primarily due to increased export tax rebates obtained | | Net Cash Flow from Operating Activities | N/A | Primarily due to increased sales activities and recovery of futures company margins in the current period | | Cash Paid for Investments | 1635.42 | Primarily due to investment in Chengdu Fujiang Machinery Manufacturing Co., Ltd. in the current period | | Cash Received from Borrowings | 364.76 | Primarily due to increased long-term borrowings in the current period | Other Significant Matters Explanation During the reporting period, the company had no significant matters requiring explanation, no overdue unfulfilled commitments, and did not issue any profit warnings, expecting cumulative net profit from the beginning of the year to the end of the next reporting period not to be a loss or significantly change compared to the prior year - There were no significant matters, their progress, impact, or solutions requiring analysis or explanation during the reporting period[19] - There were no overdue unfulfilled commitments during the reporting period[18] - The company did not forecast that cumulative net profit from the beginning of the year to the end of the next reporting period would be a loss or significantly change compared to the prior year[20] Appendix: Financial Statements Financial Statements (Unaudited) This appendix includes the company's consolidated and parent company balance sheets as of March 31, 2018, and consolidated and parent company income statements and cash flow statements for Q1 2018, all of which are unaudited Consolidated Balance Sheet As of March 31, 2018, the company's total assets were 10.54 billion Yuan, a 3.97% increase from the beginning of the year, total liabilities were 7.01 billion Yuan, up 4.81% primarily due to increased long-term borrowings, and total equity attributable to the parent company was 3.47 billion Yuan, a 1.95% increase Consolidated Balance Sheet Summary (March 31, 2018) | Item | Period-end Balance (Yuan) | Year-start Balance (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 10,537,762,068.07 | 10,135,483,410.49 | 3.97% | | Total Liabilities | 7,012,987,243.73 | 6,691,150,731.66 | 4.81% | | Total Equity Attributable to Parent Company Owners | 3,465,367,140.41 | 3,398,969,986.00 | 1.95% | Parent Company Balance Sheet As of March 31, 2018, the parent company's total assets were 9.97 billion Yuan, a 4.80% increase from the beginning of the year, total liabilities were 6.59 billion Yuan, up 6.39%, and total owner's equity was 3.38 billion Yuan, a 1.82% increase Parent Company Balance Sheet Summary (March 31, 2018) | Item | Period-end Balance (Yuan) | Year-start Balance (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 9,973,252,963.57 | 9,516,858,437.13 | 4.80% | | Total Liabilities | 6,593,122,378.13 | 6,197,297,826.66 | 6.39% | | Total Owner's Equity | 3,380,130,585.44 | 3,319,560,610.47 | 1.82% | Consolidated Income Statement In Q1 2018, the company achieved total operating revenue of 1.097 billion Yuan, a 14.72% year-on-year increase, with total profit reaching 48.02 million Yuan, up 36.77%, and net profit attributable to parent company shareholders at 45.04 million Yuan, a 32.49% increase, resulting in basic earnings per share of 0.0540 Yuan Consolidated Income Statement Summary (Q1 2018) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,097,145,314.30 | 956,397,914.23 | 14.72% | | Operating Profit | 47,757,361.71 | 29,071,599.32 | 64.27% | | Total Profit | 48,024,346.34 | 35,113,993.85 | 36.77% | | Net Profit Attributable to Parent Company Shareholders | 45,041,127.81 | 33,996,072.00 | 32.49% | | Basic Earnings Per Share (Yuan/share) | 0.0540 | 0.0408 | 32.35% | Parent Company Income Statement In Q1 2018, the parent company achieved operating revenue of 1.006 billion Yuan, a 22.59% year-on-year increase, with net profit reaching 39.32 million Yuan, up 32.75% Parent Company Income Statement Summary (Q1 2018) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,006,194,823.32 | 820,789,494.55 | 22.59% | | Operating Profit | 38,955,135.38 | 23,644,897.56 | 64.75% | | Net Profit | 39,317,792.20 | 29,618,560.03 | 32.75% | Consolidated Cash Flow Statement In Q1 2018, net cash flow from operating activities was 184.18 million Yuan, a significant reversal from -840.58 million Yuan in the prior year, while net cash outflow from investing activities was 94.26 million Yuan primarily due to external investments, and net cash inflow from financing activities was 337.34 million Yuan mainly from new borrowings, leading to a 425.18 million Yuan increase in cash and cash equivalents at period-end Consolidated Cash Flow Statement Summary (Q1 2018) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 184,179,751.32 | -840,577,988.28 | | Net Cash Flow from Investing Activities | -94,257,271.04 | -14,001,182.06 | | Net Cash Flow from Financing Activities | 337,340,785.04 | 44,502,823.10 | | Net Increase in Cash and Cash Equivalents | 425,181,298.88 | -812,889,076.05 | Parent Company Cash Flow Statement In Q1 2018, the parent company's net cash flow from operating activities was 197.67 million Yuan, a significant improvement from -391.32 million Yuan in the prior year, with net cash outflow from investing activities at 85.90 million Yuan and net cash inflow from financing activities at 328.85 million Yuan Parent Company Cash Flow Statement Summary (Q1 2018) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 197,673,954.17 | -391,317,339.54 | | Net Cash Flow from Investing Activities | -85,904,257.54 | -10,990,420.74 | | Net Cash Flow from Financing Activities | 328,847,760.69 | 44,989,182.28 | | Net Increase in Cash and Cash Equivalents | 438,492,009.25 | -360,131,306.81 |