泰晶科技(603738) - 2017 Q1 - 季度财报

Important Notice Statement on Report Authenticity and Unaudited Status 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 Board of Directors, Supervisory Board, and senior management commit to the truthfulness, accuracy, and completeness of the quarterly report content[5] - Company head Yu Xindong, chief accountant Yu Jiashuang, and head of accounting department Ma Yang guarantee the truthfulness, accuracy, and completeness of the financial statements[5] - This company's first quarterly report is unaudited[5] Company Profile Key Financial Data As of the end of the reporting period, the company's total assets and net assets attributable to shareholders increased, with significant year-over-year growth in operating revenue and net profit, alongside a substantial improvement in net cash flow from operating activities Overview of Key Financial Data | Indicator | Period-end / Year-to-date (RMB) | Prior Year-end / Year-to-date Prior Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Balance Sheet Data | | | | | Total Assets | 717,193,222.79 | 700,942,026.67 | 2.32 | | Net Assets Attributable to Parent Company Shareholders | 560,830,176.45 | 545,451,572.02 | 2.82 | | Income Statement Data | | | | | Operating Revenue | 91,818,252.89 | 63,066,057.17 | 45.59 | | Net Profit Attributable to Parent Company Shareholders | 15,378,604.43 | 7,195,499.36 | 113.73 | | Net Profit Attributable to Parent Company Shareholders Excluding Non-recurring Gains and Losses | 10,690,499.13 | 6,932,138.00 | 54.22 | | Weighted Average Return on Net Assets (%) | 2.78 | 2.71 | Increased by 0.07 percentage points | | Basic Earnings Per Share (RMB/share) | 0.23 | 0.14 | 64.29 | | Diluted Earnings Per Share (RMB/share) | 0.23 | 0.14 | 64.29 | | Cash Flow Statement Data | | | | | Net Cash Flow from Operating Activities | 10,892,973.54 | 1,389,636.95 | 683.87 | Non-recurring Gains and Losses Items and Amounts | Item | Current Period Amount (RMB) | | :--- | :--- | | Gains/losses on disposal of non-current assets | -155,862.37 | | Government grants recognized in current profit/loss | 5,640,634.26 | | Reversal of impairment provisions for receivables subject to separate impairment testing | 114,000.00 | | Other non-operating income and expenses apart from the above | 62,007.84 | | Impact on minority interests (after tax) | -79,158.62 | | Income tax impact | -893,515.81 | | Total | 4,688,105.30 | Total Shareholders, Top Ten Shareholders, and Top Ten Non-restricted Shareholders as of the End of the Reporting Period As of the reporting period end, the company had 11,722 shareholders, with Yu Xindong as the largest at 42.59%, and actual controllers holding significant restricted shares - As of the end of the reporting period, the company had 11,722 shareholders[9] Top Ten Shareholders' Shareholding Status | Shareholder Name | Shares Held at Period-end (shares) | Restricted Shares Held (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Yu Xindong | 28,400,000 | 28,400,000 | 42.59 | Domestic Natural Person | | Wang Dan | 5,800,000 | 5,800,000 | 8.70 | Domestic Natural Person | | Hubei Gaohe Venture Capital Enterprise | 4,000,000 | 4,000,000 | 6.00 | Domestic Non-state-owned Legal Person | | Yu Xinhui | 3,600,000 | 3,600,000 | 5.40 | Domestic Natural Person | | Zhongnan Growth (Tianjin) Equity Investment Fund Partnership (Limited Partnership) | 1,500,000 | 1,500,000 | 2.25 | Domestic Non-state-owned Legal Person | - Among the company's top twelve restricted shareholders, Yu Xindong, Wang Dan, Yu Xinhui, and He Hu are co-actual controllers and have family relationships[9] Total Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Non-restricted Preferred Shareholders as of the End of the Reporting Period The company had no preferred shareholders at the end of this reporting period - Disclosure of preferred shareholder information is not applicable to this company[10] Significant Events Significant Changes and Reasons for Major Accounting Statement Items and Financial Indicators Significant changes in financial indicators include asset growth driven by production expansion, substantial increases in revenue and profit, and improved operating cash flow, despite higher investment outflows Significant Changes in Balance Sheet Items | Item | March 31, 2017 (RMB) | December 31, 2016 (RMB) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Inventory | 68,455,882.43 | 50,988,563.31 | 34.26 | Increased raw material reserves and goods dispatched due to expanded production scale | | Construction in Progress | 9,370,718.43 | 7,200,010.84 | 30.15 | Increased payments for new Wangchenggang factory construction | | Goodwill | 591,647.33 | / | Not Applicable | Establishment of Shenzhen Taizhuo Electronics Co., Ltd. | | Long-term Deferred Expenses | 485,787.10 | 251,172.24 | 93.41 | Increased housing renovation and modification expenses | | Other Non-current Assets | 12,801,101.63 | 3,695,165.71 | 246.43 | Increased advance payments for projects and equipment due for production expansion | Significant Changes in Income Statement Items | Item | March 31, 2017 (RMB) | March 31, 2016 (RMB) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 91,818,252.89 | 63,066,057.17 | 45.59 | Expanded production and sales scale | | Asset Impairment Losses | 3,217,485.09 | 154,029.08 | 1,988.88 | Increased provision for bad debts compared to the same period last year | | Operating Profit | 17,346,527.87 | 10,798,164.19 | 60.64 | Expanded production and sales scale | | Non-operating Income | 5,815,074.35 | 336,466.54 | 1,628.28 | Increased government subsidies recognized in current profit/loss | | Total Profit | 22,893,307.60 | 11,133,410.08 | 105.63 | Increased operating profit and government subsidy income | Significant Changes in Cash Flow Statement Items | Item | March 31, 2017 (RMB) | March 31, 2016 (RMB) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 10,892,973.54 | 1,389,636.95 | 683.87 | Increased sales revenue and export tax rebates[11] | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-term Assets | 64,533,149.34 | 23,046,219.14 | 180.02 | Increased payments for equipment[11] | | Net Cash Flow from Investing Activities | -64,458,743.66 | -22,780,219.14 | -182.96 | Increased payments for equipment due to expanded production scale[11] | | Net Cash Flow from Financing Activities | 1,250,000.00 | 28,418,172.56 | -95.60 | Decreased bank loans and government loans[12] | Analysis of Progress, Impact, and Solutions for Significant Events There are no significant events requiring disclosure of progress, impact, or solutions during this reporting period - There is no analysis of the progress, impact, and solutions for significant events during this reporting period[13] Unfulfilled Commitments Overdue in the Reporting Period The company has no unfulfilled commitments overdue during this reporting period - There are no unfulfilled commitments overdue during this reporting period[13] Warning and Explanation of Potential Loss or Significant Change in Cumulative Net Profit from Year-start to the End of the Next Reporting Period Compared to the Same Period Last Year The company anticipates a significant year-over-year increase in cumulative net profit for the first half of 2017, primarily driven by continuous expansion of production capacity and sales scale - Cumulative net profit for the first half of 2017 is expected to increase significantly compared to the same period last year[13] - The growth is primarily due to the company's gradual increase in production capacity and expanded production and sales scale[13] Appendix Financial Statements This section provides the company's consolidated and parent company balance sheets, income statements, and cash flow statements for the first quarter of 2017, detailing the financial position, operating results, and cash flow at the end of the reporting period Consolidated Balance Sheet This table presents the consolidated financial position of the company and its subsidiaries at the end of the reporting period and the beginning of the year Key Data from Consolidated Balance Sheet | Item | Period-end Balance (RMB) | Year-start Balance (RMB) | | :--- | :--- | :--- | | Total Current Assets | 419,877,015.00 | 451,935,846.96 | | Total Non-current Assets | 297,316,207.79 | 249,006,179.71 | | Total Assets | 717,193,222.79 | 700,942,026.67 | | Total Current Liabilities | 85,587,748.93 | 88,294,374.82 | | Total Non-current Liabilities | 9,143,146.34 | 9,730,127.83 | | Total Liabilities | 94,730,895.27 | 98,024,502.65 | | Total Equity Attributable to Parent Company Shareholders | 560,830,176.45 | 545,451,572.02 | | Minority Interests | 61,632,151.07 | 57,465,952.00 | | Total Shareholders' Equity | 622,462,327.52 | 602,917,524.02 | | Total Liabilities and Shareholders' Equity | 717,193,222.79 | 700,942,026.67 | Parent Company Balance Sheet This table details the financial position of the parent company at the end of the reporting period and the beginning of the year Key Data from Parent Company Balance Sheet | Item | Period-end Balance (RMB) | Year-start Balance (RMB) | | :--- | :--- | :--- | | Total Current Assets | 296,346,039.52 | 344,750,017.49 | | Total Non-current Assets | 243,836,941.92 | 195,245,501.25 | | Total Assets | 540,182,981.44 | 539,995,518.74 | | Total Current Liabilities | 29,659,270.16 | 39,883,990.54 | | Total Non-current Liabilities | 8,411,563.01 | 8,742,044.50 | | Total Liabilities | 38,070,833.17 | 48,626,035.04 | | Total Shareholders' Equity | 502,112,148.27 | 491,369,483.70 | | Total Liabilities and Shareholders' Equity | 540,182,981.44 | 539,995,518.74 | Consolidated Income Statement This table presents the consolidated operating results of the company and its subsidiaries for the current and prior reporting periods Key Data from Consolidated Income Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 91,818,252.89 | 63,066,057.17 | | Total Operating Costs | 74,471,725.02 | 52,267,892.98 | | Operating Profit | 17,346,527.87 | 10,798,164.19 | | Total Profit | 22,893,307.60 | 11,133,410.08 | | Net Profit | 17,703,156.17 | 8,720,731.50 | | Net Profit Attributable to Parent Company Shareholders | 15,378,604.43 | 7,195,499.36 | | Minority Interest Income/Loss | 2,324,551.74 | 1,525,232.14 | | Basic Earnings Per Share (RMB/share) | 0.23 | 0.14 | | Diluted Earnings Per Share (RMB/share) | 0.23 | 0.14 | Parent Company Income Statement This table details the operating results of the parent company for the current and prior reporting periods Key Data from Parent Company Income Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 46,010,603.68 | 38,671,604.24 | | Operating Profit | 7,571,356.24 | 4,428,410.06 | | Total Profit | 12,827,768.15 | 4,635,298.44 | | Net Profit | 10,742,664.57 | 3,915,674.71 | | Basic Earnings Per Share (RMB/share) | 0.16 | 0.08 | | Diluted Earnings Per Share (RMB/share) | 0.16 | 0.08 | Consolidated Cash Flow Statement This table presents the consolidated cash flow activities of the company and its subsidiaries for the current and prior reporting periods Key Data from Consolidated Cash Flow Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 10,892,973.54 | 1,389,636.95 | | Net Cash Flow from Investing Activities | -64,458,743.66 | -22,780,219.14 | | Net Cash Flow from Financing Activities | 1,250,000.00 | 28,418,172.56 | | Net Increase in Cash and Cash Equivalents | -54,211,474.56 | 6,729,078.32 | | Cash and Cash Equivalents at Period-end | 144,742,642.53 | 63,039,058.38 | Parent Company Cash Flow Statement This table details the cash flow activities of the parent company for the current and prior reporting periods Key Data from Parent Company Cash Flow Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 4,696,680.84 | -28,184,060.96 | | Net Cash Flow from Investing Activities | -58,074,648.39 | -6,665,617.73 | | Net Cash Flow from Financing Activities | / | 28,418,172.56 | | Net Increase in Cash and Cash Equivalents | -53,535,854.71 | -5,854,545.22 | | Cash and Cash Equivalents at Period-end | 96,337,426.71 | 38,350,782.46 | Audit Report The company's first quarterly report for this period remains unaudited - This company's first quarterly report is unaudited[25]