祥和实业(603500) - 2017 Q3 - 季度财报

Important Notice The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, which remains unaudited - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from misrepresentation or material omissions[6] - All directors attended the board meeting to review this quarterly report[6] - This company's Q3 2017 report is unaudited[6] Company Profile Key Financial Data In the first three quarters of 2017, the company achieved RMB 204 million in operating revenue, a 14.10% increase, and RMB 56.73 million in net profit attributable to shareholders, up 12.40%, with total assets reaching RMB 845 million due to equity financing Key Financial Data for Q1-Q3 2017 | Indicator | Year-Beginning to Period-End (Jan-Sep) | Prior Year Same Period (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | RMB 203,534,506.38 | RMB 178,378,510.15 | 14.10% | | Net Profit Attributable to Shareholders | RMB 56,728,786.21 | RMB 50,468,584.28 | 12.40% | | Basic Earnings Per Share (RMB/share) | 0.58 | 0.53 | 9.43% | | Net Cash Flow from Operating Activities | RMB 37,931,496.61 | RMB 29,984,080.11 | 26.51% | | Indicator | Current Period-End | Prior Year-End | Change (%) | | Total Assets | RMB 844,693,463.30 | RMB 482,242,652.39 | 75.16% | | Net Assets Attributable to Shareholders | RMB 764,233,876.86 | RMB 361,087,071.85 | 111.65% | Non-Recurring Gains and Losses for Q1-Q3 2017 | Item | Year-Beginning to Period-End Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -25,648.88 | Loss on disposal of fixed assets | | Government Grants Recognized in Current Profit/Loss | 1,775,692.75 | Government grant income | | Other Non-Operating Income/Expenses | -75,382.51 | - | | Interest Income from Wealth Management Products | 150,868.01 | - | | Income Tax Impact | -273,829.41 | - | | Total | 1,551,699.96 | - | Shareholder Information As of the reporting period end, the company had 24,404 shareholders, with controlling shareholder Tang Youqian and family members dominating the top ten, holding a significant combined stake with no pledged or frozen shares - As of the reporting period end, the company had 24,404 common shareholders[7] - Controlling shareholder Tang Youqian and family members (Tang Qiujuan, Tang Xiao, Tang Wenming, Tang Jiao) act in concert, collectively holding a substantial stake in the company[7][8] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Tang Youqian | 43,144,330 | 34.24 | Domestic Natural Person | | Tang Wenming | 10,997,574 | 8.73 | Domestic Natural Person | | Tang Jiao | 10,997,574 | 8.73 | Domestic Natural Person | | Tang Xiao | 10,997,574 | 8.73 | Domestic Natural Person | | Tang Qiujuan | 8,459,673 | 6.71 | Domestic Natural Person | | Tiantai Xianghe Investment Center (Limited Partnership) | 5,403,275 | 4.29 | Domestic Non-State-Owned Legal Person | | Zhejiang Tiantang Silicon Valley Shishun Equity Investment Partnership | 3,240,000 | 2.57 | Domestic Non-State-Owned Legal Person | | Zhejiang Fangxiang Investment Co., Ltd. | 1,260,000 | 1.00 | Domestic Non-State-Owned Legal Person | | Zhou Guoqing | 347,454 | 0.28 | Domestic Natural Person | | Zhang Lingzheng | 279,900 | 0.22 | Domestic Natural Person | Preferred Shareholder Information As of the reporting period end, the company had no preferred shareholders - The company has no preferred share-related information[8] Significant Events Significant Changes in Key Financial Statement Items and Indicators and Their Reasons During the reporting period, several financial indicators significantly changed due to IPO and business development, with cash and construction in progress increasing from raised funds, short-term borrowings decreasing, and payables rising due to increased procurement, while investment activities showed net outflow and financing activities net inflow Major Balance Sheet Item Changes | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Cash and Cash Equivalents | +93.52% | Proceeds from share issuance received | | Construction in Progress | +221.64% | Implementation of R&D center construction project | | Short-term Borrowings | -93.46% | Repayment of bank loans | | Notes Payable | +117.86% | Increased issuance of bank acceptance bills for payments | | Accounts Payable | +162.61% | Increased procurement | | Capital Reserve | +211.15% | Premium issuance of shares | Major Cash Flow Statement Item Changes | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | 624.49% (Increased Outflow) | Increased purchase of wealth management products in current period | | Net Cash Flow from Financing Activities | 560.88% (Increased Inflow) | Proceeds from initial public offering | Progress of Significant Events The company actively managed funds during the period, approving the use of up to RMB 248 million in idle raised funds and RMB 49 million in自有资金 for wealth management products, and RMB 34.2 million in idle raised funds for working capital, while completing capital and corporate charter changes - The company used idle raised funds totaling RMB 240 million to purchase wealth management products[11] - The Board of Directors approved using up to RMB 34.2 million of temporarily idle raised funds to supplement working capital[11] - The Board of Directors approved using RMB 84.86 million of raised funds to replace self-raised funds previously invested in IPO projects[11] - The company completed the modification of its registered capital, articles of association, and industrial and commercial registration changes[12] Overdue Unfulfilled Commitments During the reporting period, the company had no overdue unfulfilled commitments - The company has no overdue unfulfilled commitments[13] Performance Forecast The company has not issued any warnings regarding potential losses or significant changes in cumulative net profit from the beginning of the year to the end of the next reporting period - The company has not forecasted any significant changes or losses in performance from the beginning of the year to the end of the next reporting period[13] Appendix Financial Statements This appendix includes the company's unaudited balance sheet as of September 30, 2017, and the income statement and cash flow statement for January-September 2017 Balance Sheet As of September 30, 2017, total assets reached RMB 845 million, up 75.16% from year-end due to IPO proceeds, while total liabilities decreased 33.6% to RMB 80.46 million from short-term debt repayment, and equity attributable to shareholders increased 111.65% to RMB 764 million Major Balance Sheet Items (Unit: RMB) | Item | Period-End Balance | Year-Beginning Balance | | :--- | :--- | :--- | | Total Assets | 844,693,463.30 | 482,242,652.39 | | Cash and Cash Equivalents | 136,932,630.07 | 70,757,272.51 | | Other Current Assets | 240,000,000.00 | 0.00 | | Total Liabilities | 80,459,586.44 | 121,155,580.54 | | Short-term Borrowings | 5,000,000.00 | 76,500,000.00 | | Total Owners' Equity | 764,233,876.86 | 361,087,071.85 | | Share Capital | 126,000,000.00 | 94,500,000.00 | | Capital Reserve | 500,899,291.01 | 160,981,272.21 | Income Statement For the first three quarters of 2017 (January-September), the company achieved RMB 204 million in operating revenue, a 14.10% increase, with operating profit at RMB 65.07 million (up 13.57%) and net profit attributable to shareholders at RMB 56.73 million (up 12.40%), resulting in basic EPS of RMB 0.58 Major Income Statement Items (Jan-Sep 2017, Unit: RMB) | Item | Current Period Amount (Jan-Sep) | Prior Period Amount (Jan-Sep) | | :--- | :--- | :--- | | I. Operating Revenue | 203,534,506.38 | 178,378,510.15 | | II. Operating Profit | 65,065,087.12 | 57,290,469.96 | | III. Total Profit | 66,739,748.48 | 59,374,805.04 | | IV. Net Profit | 56,728,786.21 | 50,468,584.28 | | (I) Basic Earnings Per Share (RMB/share) | 0.58 | 0.53 | Cash Flow Statement In the first three quarters of 2017, net cash flow from operating activities was RMB 37.93 million (up 26.51%), investing activities resulted in a net outflow of RMB 250 million due to wealth management product purchases, and financing activities generated a net inflow of RMB 270 million from IPO proceeds, with cash and cash equivalents ending at RMB 121 million Major Cash Flow Statement Items (Jan-Sep 2017, Unit: RMB) | Item | Current Period Amount (Jan-Sep) | Prior Period Amount (Jan-Sep) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 37,931,496.61 | 29,984,080.11 | | Net Cash Flow from Investing Activities | -250,308,052.68 | -34,549,491.89 | | Net Cash Flow from Financing Activities | 269,811,706.84 | -58,542,724.87 | | Net Increase in Cash and Cash Equivalents | 57,424,357.56 | -63,084,498.62 | | Cash and Cash Equivalents at Period-End | 120,756,630.07 | 8,697,435.89 | Audit Report This quarterly report is unaudited - The audit report section indicates this report is unaudited[24]