惠而浦(600983) - 2018 Q1 - 季度财报

Item 1. Important Notice This section provides the management's declaration regarding the accuracy and completeness of the quarterly report 1.1 Board of Directors, Supervisory Board, Directors, Supervisors, and Senior Management Guarantee the Truthfulness, Accuracy, and Completeness of the Quarterly Report Content The company's Board of Directors, Supervisory Board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume corresponding legal responsibilities; the report was approved by all directors but remains unaudited - The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, with no false records, misleading statements, or material omissions[6] - This first quarterly report of the company is unaudited[6] Item 2. Company Profile This section details the company's key financial performance, shareholder structure, and preferred share status for the reporting period 2.1 Key Financial Data In Q1 2018, the company's operating revenue was RMB 1.695 billion, down 11.68% year-on-year; net profit attributable to shareholders was RMB 57.62 million, a significant 33.94% decrease; net cash flow from operating activities was negative RMB 599.59 million, a sharp 55,151.19% year-on-year decline; non-recurring gains and losses totaled RMB 33.93 million, mainly from wealth management investment income 2018 Q1 Key Financial Indicators | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,694,967,232.72 | 1,919,084,744.78 | -11.68% | | Net Profit Attributable to Shareholders (RMB) | 57,619,380.12 | 87,226,303.81 | -33.94% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 23,684,721.14 | 82,461,706.03 | -71.28% | | Net Cash Flow from Operating Activities (RMB) | -599,593,116.35 | -1,085,212.98 | -55,151.19% | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.11 | -27.27% | | Weighted Average Return on Net Assets (%) | 1.47% | 2.12% | Decreased by 0.65 percentage points | 2018 Q1 Non-recurring Gains and Losses | Item | Amount (RMB) | Notes | | :--- | :--- | :--- | | Disposal gains/losses of non-current assets | -343,467.95 | Fixed asset inventory loss and relocation expenses | | Government grants | 6,066,087.61 | Government grants | | Fair value changes and investment income from transactional financial assets/liabilities | 37,048,343.01 | Investment income from wealth management | | Other non-operating income and expenses | -130,986.96 | - | | Income tax impact | -8,705,315.96 | - | | Total | 33,934,659.75 | - | 2.2 Total Number of Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders (or Unrestricted Shareholders) at the End of the Reporting Period As of the end of the reporting period, the company had 23,339 shareholders; the controlling shareholder is Whirlpool (China) Investment Co., Ltd., holding 51.00%; the second largest shareholder is Hefei State-owned Assets Holding Co., Ltd., holding 23.34%, with some shares pledged - As of the end of the reporting period, the company had 23,339 shareholders[9] Top Two Shareholders' Shareholding | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Whirlpool (China) Investment Co., Ltd. | 390,884,200 | 51.00 | | Hefei State-owned Assets Holding Co., Ltd. | 178,854,400 | 23.34 | 2.3 Total Number of Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Unrestricted Preferred Shareholders at the End of the Reporting Period The company had no preferred shares during this reporting period - During the reporting period, the company had no preferred shareholders[10] Item 3. Significant Events This section outlines major changes in financial items and other significant matters during the reporting period 3.1 Significant Changes and Reasons for Key Accounting Statement Items and Financial Indicators During the reporting period, several financial indicators experienced significant changes; financial expenses surged by 546.02% year-on-year due to exchange gains/losses; investment income increased by 933.09% year-on-year due to wealth management product purchases; net profit decreased by 33.94% year-on-year, primarily due to lower subsidiary profitability, exchange rate fluctuations, and rising material costs; net cash flow from operating activities saw a substantial outflow, mainly due to decreased revenue and less favorable collections compared to the prior year Significant Financial Indicator Changes | Item | Change Rate (%) | Reason Explanation | | :--- | :--- | :--- | | Financial Expenses | 546.02% | Primarily due to changes in exchange gains/losses | | Investment Income | 933.09% | Increase from wealth management purchases and subsidiary hedging gains | | Net Cash Flow from Operating Activities | -55151.19% | Mainly due to decreased revenue, whereas sales collections were strong in Q1 last year | | Net Profit | -33.94% | Primarily due to decreased profitability of subsidiaries, impacted by exchange rates and rising material costs | 3.2 Analysis and Explanation of Progress, Impact, and Solutions for Significant Matters During the reporting period, the company had no significant matter progress, overdue unfulfilled commitments, or need to issue major performance change warnings - The company has no significant matter progress, overdue unfulfilled commitments, or major performance change warnings[12] Item 4. Appendix This section contains the company's unaudited financial statements for the first quarter of 2018, including balance sheets, income statements, and cash flow statements 4.1 Financial Statements 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 statements are unaudited Consolidated Balance Sheet As of March 31, 2018, the company's total assets were RMB 7.965 billion, a 6.05% decrease from the beginning of the year; total liabilities were RMB 4.015 billion, and total equity attributable to parent company owners was RMB 3.950 billion, a 1.48% increase from the beginning of the year Consolidated Balance Sheet Key Items (2018-03-31) | Item | Period-end Balance (RMB) | Beginning-of-year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 7,964,568,055.55 | 8,477,526,622.53 | | Total Liabilities | 4,014,757,815.02 | 4,585,354,655.37 | | Total Equity Attributable to Parent Company Owners | 3,949,810,240.53 | 3,892,171,967.16 | Parent Company Balance Sheet As of March 31, 2018, the parent company's total assets were RMB 7.313 billion, a decrease from RMB 7.709 billion at the beginning of the year; total liabilities were RMB 3.380 billion, and total owner's equity was RMB 3.933 billion Parent Company Balance Sheet Key Items (2018-03-31) | Item | Period-end Balance (RMB) | Beginning-of-year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 7,313,216,136.90 | 7,708,868,484.06 | | Total Liabilities | 3,379,778,599.42 | 3,832,228,523.96 | | Total Owner's Equity | 3,933,437,537.48 | 3,876,639,960.10 | Consolidated Income Statement In Q1 2018, the company achieved total operating revenue of RMB 1.695 billion, down 11.68% year-on-year; operating profit was RMB 59.24 million, a 44.4% decrease year-on-year; net profit was RMB 57.62 million, down 33.94% year-on-year; basic earnings per share were RMB 0.08 Consolidated Income Statement Key Items (2018 Q1) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,694,967,232.72 | 1,919,084,744.78 | | Operating Profit | 59,236,929.71 | 106,551,521.25 | | Net Profit | 57,619,380.12 | 87,226,303.81 | | Net Profit Attributable to Parent Company Shareholders | 57,619,380.12 | 87,226,303.81 | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.11 | Parent Company Income Statement In Q1 2018, the parent company achieved operating revenue of RMB 1.370 billion and net profit of RMB 56.80 million, a decline compared to RMB 68.19 million in the same period last year Parent Company Income Statement Key Items (2018 Q1) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 1,370,160,246.08 | 1,610,312,402.32 | | Net Profit | 56,797,577.38 | 68,190,257.09 | Consolidated Cash Flow Statement In Q1 2018, net cash flow from operating activities was negative RMB 599.59 million, a significant deterioration from negative RMB 1.09 million in the prior year; net cash flow from investing activities was RMB 8.91 million; cash and cash equivalents at period-end were RMB 2.019 billion, a decrease of RMB 580.71 million from the beginning of the period Consolidated Cash Flow Statement Key Items (2018 Q1) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -599,593,116.35 | -1,085,212.98 | | Net Cash Flow from Investing Activities | 8,914,993.78 | 168,766,868.87 | | Net Increase in Cash and Cash Equivalents | -580,707,050.50 | 165,729,733.88 | | Cash and Cash Equivalents at Period-end | 2,018,610,669.29 | 3,023,053,811.18 | Parent Company Cash Flow Statement In Q1 2018, the parent company's net cash flow from operating activities was negative RMB 496.09 million, compared to a net inflow of RMB 41.52 million in the prior year; net cash flow from investing activities was RMB 16.52 million; cash and cash equivalents at period-end were RMB 1.448 billion Parent Company Cash Flow Statement Key Items (2018 Q1) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -496,086,318.41 | 41,516,369.60 | | Net Cash Flow from Investing Activities | 16,517,253.40 | 185,825,661.95 | | Cash and Cash Equivalents at Period-end | 1,448,372,284.87 | 2,462,995,385.93 | 4.2 Audit Report This quarterly report is unaudited - The report applies "Not Applicable" for the audit report, indicating that this quarterly financial report is unaudited[31]