金煤科技(600844) - 2017 Q3 - 季度财报

Important Notice The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this unaudited quarterly report, assuming legal responsibilities - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal liabilities[5] - All company directors attended the board meeting to review the quarterly report[5] - Company head Wang Bin, chief accountant Jiang Yongfei, and head of accounting department Diao Wei guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[5] - This company's third-quarter report is unaudited[5] Company Profile As of the report period end, total assets and net assets attributable to shareholders increased, with year-to-date operating revenue up 62.78% and net profit turning positive, while operating cash flow decreased, and the company has 40,040 shareholders Key Financial Data As of the report period end, total assets grew by 7.81% and net assets by 3.97%, with year-to-date operating revenue increasing by 62.78% and net profit turning positive, while operating cash flow decreased by 25.69% Key Financial Data (Year-to-date as of Report Period End) | Indicator | As of Report Period End / YTD (Jan-Sep) | As of Prior Year End / Prior Year YTD (Jan-Sep) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,567,703,644.93 Yuan | 3,309,149,908.29 Yuan | 7.81 | | Net Assets Attributable to Listed Company Shareholders | 1,930,005,995.20 Yuan | 1,856,260,642.17 Yuan | 3.97 | | Net Cash Flow from Operating Activities | 213,201,194.74 Yuan | 286,904,676.06 Yuan | -25.69 | | Operating Revenue | 843,515,304.94 Yuan | 518,196,223.06 Yuan | 62.78 | | Net Profit Attributable to Listed Company Shareholders | 73,745,353.03 Yuan | -105,646,721.33 Yuan | N/A (Turned loss into profit) | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses | 66,027,622.83 Yuan | -111,300,345.80 Yuan | N/A (Turned loss into profit) | | Weighted Average Return on Net Assets (%) | 3.90 | -0.1333 | N/A | | Basic Earnings Per Share (Yuan/share) | 0.0725 | -0.1312 | N/A | | Diluted Earnings Per Share (Yuan/share) | 0.0725 | -0.1312 | N/A | Non-recurring Gains and Losses (Year-to-date as of Report Period End) | Item | YTD Amount (Jan-Sep) (Yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -3,116,020.85 Yuan | | Government grants recognized in current profit or loss | 15,115,111.88 Yuan | | Other non-operating income and expenses apart from the above | -171,947.42 Yuan | | Impact of minority interests (after tax) | -2,335,327.18 Yuan | | Income tax impact | -1,774,086.23 Yuan | | Total | 7,717,730.20 Yuan | Total Shareholders, Top Ten Shareholders, and Top Ten Unrestricted Shareholders as of Report Period End As of the report period end, the company had 40,040 shareholders, with Jiangsu Danhua Group, Beijing Dingjian Private Banking Capital Management, and China Construction Mingmao (Beijing) Investment Development as the top three, all having pledged shares - As of the report period end, total shareholders numbered 40,040 households[8] Top Ten Shareholders' Holdings (Partial) | Shareholder Name | Shares Held at Period End | Percentage (%) | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | | Jiangsu Danhua Group Co., Ltd. | 176,339,550 | 17.35 | Pledged 15,000,000 shares | | Beijing Dingjian Private Banking Capital Management Co., Ltd. | 50,000,000 | 4.92 | Pledged 50,000,000 shares | | China Construction Mingmao (Beijing) Investment Development Co., Ltd. | 50,000,000 | 4.92 | Pledged 50,000,000 shares | - Jiangsu Danhua Group Co., Ltd. has no associated relationship or concerted action with other shareholders; the company is unaware of such relationships among other shareholders[9] Total Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Unrestricted Preferred Shareholders as of Report Period End The company had no preferred shareholders as of the report period end - The company has no preferred shareholders[10] Significant Events The company experienced significant changes in key financial statement items, driven by subsidiary business activities, with operating revenue significantly up, but investment income sharply down, while production remains normal and the ethylene glycol expansion project is expected to complete in Q4, with no overdue commitments or profit warnings Significant Changes and Reasons for Key Financial Statement Items and Indicators Significant balance sheet changes include a 54.38% decrease in cash and increases in receivables and borrowings, driven by subsidiary operations; the income statement shows 62.78% revenue growth and a 1069.45% drop in investment income; cash flow from investing activities increased 60.64%, while financing cash flow decreased 101.16% Key Balance Sheet Item Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | -54.38 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. repaid bank loans | | Notes Receivable | 276.95 | Subsidiary Jiangsu Jinju Alloy Material Co., Ltd. increased bank acceptance notes | | Prepayments | 404.38 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. increased prepaid engineering costs | | Inventories | 63.26 | Subsidiary Jiangsu Jinju Alloy Material Co., Ltd. stocked up on raw materials and finished products | | Available-for-sale Financial Assets | 100.00 | Parent company invested in limited partnership | | Short-term Borrowings | 323.75 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. increased borrowings from financial institutions | | Notes Payable | 100.00 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. increased bank acceptance bills for goods payments | | Advances from Customers | 146.20 | Subsidiary Jiangsu Jinju Alloy Material Co., Ltd. increased advance receipts for sales | | Non-current Liabilities Due Within One Year | -100.00 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. repaid bank loans | | Long-term Borrowings | -50.00 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. repaid borrowings from financial institutions | Key Income Statement Item Changes and Reasons (Current Period vs. Prior Year Period) | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | 62.78 | Increase in price and sales volume of the company's main products compared to the prior year period | | Taxes and Surcharges | 340.07 | Subsidiary Jiangsu Jinju Alloy Material Co., Ltd. accrued more value-added tax payable | | Financial Expenses | -61.43 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. reduced total bank borrowings | | Investment Income | -1069.45 | Subsidiary Jiangsu Danhua Acetic Anhydride Co., Ltd. recognized investment losses from Jining Jindan Chemical Co., Ltd. | | Non-operating Income | 74.63 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. received more government grants | | Non-operating Expenses | 3377.75 | Subsidiary Tongliao Jinmei Chemical Co., Ltd. disposed of fixed assets | Key Cash Flow Item Changes and Reasons (Current Period vs. Prior Year Period) | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | 60.64 | Parent company paid for the acquisition of minority equity in subsidiary Tongliao Jinmei Chemical Co., Ltd. in the prior year period | | Net Cash Flow from Financing Activities | -101.16 | Parent company received proceeds from non-public issuance of shares in the prior year period | Analysis of Progress, Impact, and Solutions for Significant Events The company's third-quarter production and operations were normal, with stable ethylene glycol and oxalic acid output, and the ethylene glycol expansion project expected to complete in Q4 - The company's third-quarter production and operations were normal, producing 34,800 tons of ethylene glycol and 21,800 tons of oxalic acid[16] - Sales included 33,100 tons of ethylene glycol and 20,000 tons of oxalic acid, with ethylene glycol production capacity utilization averaging 91% for the quarter[16] - The ethylene glycol expansion and technical upgrade project is expected to be completed in the fourth quarter[16] Overdue Unfulfilled Commitments During the Reporting Period The company had no overdue unfulfilled commitments during the reporting period - The company has no overdue unfulfilled commitments[17] Warning and Explanation of Potential Cumulative Net Profit Loss or Significant Change from Prior Year-End to Next Reporting Period-End The company has not issued any warnings regarding potential cumulative net profit loss or significant changes for the period from year-beginning to the next report period end - The company has not issued any warnings or explanations regarding potential cumulative net profit loss or significant changes from the prior year-end to the next reporting period-end[18] Appendix The appendix contains the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, providing detailed financial data for reference Financial Statements This section presents the unaudited consolidated and parent company balance sheets as of September 30, 2017, and income and cash flow statements for January-September 2017 Consolidated Balance Sheet As of September 30, 2017, consolidated total assets were 3.568 billion Yuan, up 7.81% from year-beginning, with total liabilities at 1.078 billion Yuan and total owners' equity at 2.490 billion Yuan Consolidated Balance Sheet Key Data (As of September 30, 2017) | Item | Period-end Balance (Yuan) | Year-beginning Balance (Yuan) | | :--- | :--- | :--- | | Total Assets | 3,567,703,644.93 | 3,309,149,908.29 | | Total Current Assets | 605,240,666.56 | 546,628,995.91 | | Total Non-current Assets | 2,962,462,978.37 | 2,762,520,912.38 | | Total Liabilities | 1,078,003,463.76 | 918,679,342.12 | | Total Owners' Equity | 2,489,700,181.17 | 2,390,470,566.17 | Parent Company Balance Sheet As of September 30, 2017, parent company total assets were 3.031 billion Yuan, slightly down from year-beginning, with total liabilities at 0.231 billion Yuan and total owners' equity at 2.799 billion Yuan Parent Company Balance Sheet Key Data (As of September 30, 2017) | Item | Period-end Balance (Yuan) | Year-beginning Balance (Yuan) | | :--- | :--- | :--- | | Total Assets | 3,030,943,796.50 | 3,071,941,125.97 | | Total Current Assets | 96,162,636.65 | 347,159,593.80 | | Total Non-current Assets | 2,934,781,159.85 | 2,724,781,532.17 | | Total Liabilities | 231,421,644.80 | 264,669,244.77 | | Total Owners' Equity | 2,799,522,151.70 | 2,807,271,881.20 | Consolidated Income Statement For Jan-Sep 2017, total operating revenue reached 0.844 billion Yuan, up 62.78%, with operating profit, net profit, and net profit attributable to parent company owners all turning from loss to profit, resulting in basic EPS of 0.0725 Yuan/share Consolidated Income Statement Key Data (Jan-Sep 2017) | Item | YTD Amount (Jan-Sep) (Yuan) | Prior Year YTD Amount (Jan-Sep) (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 843,515,304.94 Yuan | 518,196,223.06 Yuan | Y-o-Y Growth 62.78% | | Operating Profit | 87,498,112.95 Yuan | -190,113,806.02 Yuan | Turned loss into profit | | Net Profit | 99,229,615.00 Yuan | -181,246,384.48 Yuan | Turned loss into profit | | Net Profit Attributable to Parent Company Owners | 73,745,353.03 Yuan | -105,646,721.33 Yuan | Turned loss into profit | | Basic Earnings Per Share (Yuan/share) | 0.0725 | -0.1312 | Turned loss into profit | Parent Company Income Statement For Jan-Sep 2017, the parent company reported operating loss, total loss, and a net loss of -7,749,729.50 Yuan, with the loss widening compared to the prior year period Parent Company Income Statement Key Data (Jan-Sep 2017) | Item | YTD Amount (Jan-Sep) (Yuan) | Prior Year YTD Amount (Jan-Sep) (Yuan) | | :--- | :--- | :--- | | Operating Profit | -7,749,729.50 Yuan | -2,591,755.29 Yuan | | Total Profit | -7,749,729.50 Yuan | -2,591,755.29 Yuan | | Net Profit | -7,749,729.50 Yuan | -2,591,755.29 Yuan | Consolidated Cash Flow Statement For Jan-Sep 2017, net cash flow from operating activities was 0.213 billion Yuan, down 25.69%; net cash flow from investing activities was -0.382 billion Yuan, a 60.64% decrease in outflow; and net cash flow from financing activities turned negative to -0.014 billion Yuan due to prior year equity funding Consolidated Cash Flow Statement Key Data (Jan-Sep 2017) | Item | YTD Amount (Jan-Sep) (Yuan) | Prior Year YTD Amount (Jan-Sep) (Yuan) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 213,201,194.74 Yuan | 286,904,676.06 Yuan | Decrease 25.69% | | Net Cash Flow from Investing Activities | -381,739,085.25 Yuan | -969,891,227.75 Yuan | Outflow Decrease 60.64% | | Net Cash Flow from Financing Activities | -14,313,454.61 Yuan | 1,232,635,032.61 Yuan | Turned from positive to negative | | Net Increase in Cash and Cash Equivalents | -182,851,345.12 Yuan | 549,648,480.92 Yuan | Turned from positive to negative | Parent Company Cash Flow Statement For Jan-Sep 2017, parent company net cash flow from operating activities was -6.78 million Yuan, a significant decrease in outflow; net cash flow from investing activities was -0.210 billion Yuan, a significant decrease in outflow; and net cash flow from financing activities was 0.215 billion Yuan, a significant decrease Parent Company Cash Flow Statement Key Data (Jan-Sep 2017) | Item | YTD Amount (Jan-Sep) (Yuan) | Prior Year YTD Amount (Jan-Sep) (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -6,779,713.75 Yuan | -189,869,836.09 Yuan | | Net Cash Flow from Investing Activities | -210,007,598.00 Yuan | -1,599,539,248.00 Yuan | | Net Cash Flow from Financing Activities | 215,291,311.11 Yuan | 1,792,787,460.25 Yuan | | Net Increase in Cash and Cash Equivalents | -1,496,000.64 Yuan | 3,378,376.16 Yuan | Audit Report This quarterly report is unaudited - This quarterly report is unaudited[37]