上海临港(600848) - 2016 Q3 - 季度财报

Important Notice Statement on Report Authenticity The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, assuming legal responsibility for its content, which remains unaudited - The company's management guarantees the truthfulness, accuracy, and completeness of the 2016 third-quarter report, assuming corresponding legal liabilities[8] - This quarterly report remains unaudited[8] Company's Key Financial Data and Shareholder Changes Key Financial Data As of September 30, 2016, total assets grew 5.00%, Q1-Q3 operating revenue increased 18.34%, and net profit attributable to shareholders rose 37.98%, with operating cash flow improving from -RMB 633 million to -RMB 36 million, while basic EPS decreased 41.98% due to increased share capital Key Financial Data for Q1-Q3 2016 | Indicator | Jan-Sep 2016 (RMB) | Jan-Sep 2015 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 608,870,705.35 | 514,509,722.96 | 18.34% | | Net Profit Attributable to Listed Company Shareholders | 155,431,474.00 | 112,644,483.04 | 37.98% | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-recurring Items) | 152,264,781.85 | 109,127,979.51 | 39.53% | | Net Cash Flow from Operating Activities | -36,124,215.25 | -632,915,801.24 | 94.29% | | Basic Earnings Per Share (RMB/share) | 0.1736 | 0.2992 | -41.98% | | Weighted Average Return on Net Assets (%) | 4.86% | 4.56% | Increased by 0.30 percentage points | | Indicator | Sep 30, 2016 (RMB) | Dec 31, 2015 (RMB) | Change (%) | | Total Assets | 7,328,926,630.20 | 6,980,039,466.70 | 5.00% | | Net Assets Attributable to Listed Company Shareholders | 3,284,282,114.78 | 3,113,775,333.39 | 5.48% | - Total non-recurring gains and losses for Q1-Q3 2016 amounted to RMB 3,166,692.15, primarily comprising RMB 14,663,853.96 in government subsidies[13][15] Shareholder Information As of the reporting period end, the company had 50,243 shareholders, with Shanghai Lingang Economic Development Group Asset Management Co., Ltd. as the largest shareholder holding 45.07%, of which 60 million shares are pledged - As of the reporting period end, total shareholders numbered 50,243, comprising 31,733 A-share and 18,510 B-share accounts[16] Top Five Shareholders' Holdings | Shareholder Name | Number of Shares Held | Proportion (%) | Share Nature | | :--- | :--- | :--- | :--- | | Shanghai Lingang Economic Development Group Asset Management Co., Ltd. | 403,473,115 | 45.07% | State-owned Legal Person | | Shanghai Songjiang Xinqiao Asset Management Co., Ltd. | 54,359,527 | 6.07% | Domestic Non-state-owned Legal Person | | Shanghai Jiuting Asset Management Co., Ltd. | 31,543,481 | 3.52% | Domestic Non-state-owned Legal Person | | Shanghai Electric (Group) Corporation | 25,359,357 | 2.83% | State-owned Legal Person | | Shanghai Pudong Kangqiao (Group) Co., Ltd. | 21,509,072 | 2.40% | State-owned Legal Person | Significant Matters Analysis of Significant Changes in Key Financial Statement Items The company explained significant Q1-Q3 2016 financial statement changes, with asset variations from wealth management products and prepayments, profit growth from service income and lower real estate costs, and improved operating and investing cash flows, while financing cash flow decreased Balance Sheet Item Variation Analysis Key balance sheet changes include a 58.01% increase in monetary funds, a 680.23% rise in prepayments, a 308.73% increase in other receivables, an 89.03% decrease in other current assets, and a 45.19% increase in minority interests Major Balance Sheet Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Monetary Funds | 58.01% | Maturity and collection of wealth management products | | Prepayments | 680.23% | Prepayment for project construction costs | | Other Receivables | 308.73% | Payment of lease deposits | | Other Current Assets | -89.03% | Maturity and collection of wealth management products | | Short-term Borrowings | 44.44% | Increase in borrowings to supplement working capital | | Minority Interests | 45.19% | Receipt of capital contributions from minority shareholders | Income Statement Item Variation Analysis Key income statement changes include an 18.34% increase in operating revenue, a 30.10% decrease in operating costs, a 91.76% rise in business taxes, and increases in administrative and financial expenses, non-operating income, and expenses Major Income Statement Changes | Item | Change (%) | Reason | | :--- | :--- | :--- | | Operating Revenue | 18.34% | Increase in comprehensive service income | | Operating Costs | -30.10% | Earlier completion and lower development costs of sold properties | | Business Taxes and Surcharges | 91.76% | Increased land appreciation tax due to higher property sales profit | | Administrative Expenses | 66.46% | Increase in property and energy costs due to higher volume of completed properties | | Financial Expenses | 52.65% | Increase in financial costs for newly completed properties | | Non-operating Income | 145.32% | Increase in government subsidies compared to the same period last year | | Non-operating Expenses | 16,645.42% | Increase in special support fund expenditures compared to the same period last year | Cash Flow Statement Item Variation Analysis Key cash flow changes include a 94.29% improvement in net operating cash flow, a shift in net investing cash flow from -RMB 105 million to RMB 430 million, and a 93.97% decrease in net financing cash flow Major Cash Flow Statement Changes | Item | Jan-Sep 2016 (RMB) | Jan-Sep 2015 (RMB) | Reason for Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -36,124,215.25 | -632,915,801.24 | Increased receipts from property sales and no land payments | | Net Cash Flow from Investing Activities | 430,404,863.17 | -105,187,626.44 | Maturity and collection of wealth management products | | Net Cash Flow from Financing Activities | 65,230,683.62 | 1,082,313,189.96 | Reduced new external financing | Progress of Major Asset Restructuring The company disclosed detailed progress on its major asset restructuring, involving share issuance for asset acquisition and private placement for supporting funds, accepted by the CSRC with initial feedback received, noting final CSRC approval remains uncertain - The company plans to issue shares to acquire 100% equity in Shanghai Caohejing Hi-Tech Park Puxing Construction Development Co., Ltd. and 85% equity in Shanghai Caohejing Hi-Tech Park Innovation and Entrepreneurship Park Development Co., Ltd[26] - Concurrently, the company plans a private placement of shares to specific investors to raise supporting funds for the construction of in-progress projects of the assets to be injected[26][27] - The restructuring plan was accepted by the China Securities Regulatory Commission (CSRC) on September 5, 2016, and the company received the CSRC's first feedback notice on September 29[24][25] Fulfillment of Shareholder Commitments The company and its major shareholders strictly fulfilled commitments from previous asset restructurings, including resolving horizontal competition, regulating related-party transactions, maintaining independence, share lock-ups, and profit compensation, with no breaches identified - Controlling shareholder Lingang Group committed to transferring equity of its park companies with horizontal competition to the listed company within 3-5 years after divesting relevant businesses[29][30] - Lingang Asset Management committed that the assets injected in the 2015 restructuring would achieve a cumulative net profit attributable to parent company shareholders after non-recurring items of no less than RMB 771 million for 2015-2017, with share or cash compensation if not met[32] - All relevant shareholders committed to maintaining the listed company's independence in personnel, assets, finance, operations, and organization[30][31] Appendix Financial Statements This section includes the company's unaudited consolidated and parent company financial statements as of September 30, 2016, specifically the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet Parent Company Balance Sheet Consolidated Income Statement Parent Company Income Statement Consolidated Cash Flow Statement Parent Company Cash Flow Statement Audit Report This quarterly report remains unaudited - The applicability selection is 'Not Applicable', indicating this quarterly financial report is unaudited[58]