海特高新(002023) - 2015 Q1 - 季度财报

Important Notice The board, supervisory board, and management affirm the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's board of directors, supervisory board, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and bear individual and joint legal responsibility[4] - Company head Li Biao, chief accountant Zheng Dehua, and head of accounting department Long Zhiyun declare: they guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[5] Key Financial Data and Shareholder Changes Operating revenue increased, but net profit and operating cash flow significantly declined, while total assets slightly decreased and net assets grew Key Accounting Data and Financial Indicators Q1 2015 saw revenue growth but a decline in net profit and a significant negative shift in operating cash flow 2015 Q1 Key Accounting Data and Financial Indicators | Indicator | Current Period | Prior Year Same Period | Current Period vs. Prior Year Same Period Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 113,760,684.42 | 108,813,491.61 | 4.55% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | 25,308,032.54 | 28,798,387.63 | -12.12% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses (Yuan) | 25,432,833.79 | 28,748,328.09 | -11.53% | | Net Cash Flow from Operating Activities (Yuan) | -62,724,627.61 | 21,917,941.32 | -386.18% | | Basic Earnings Per Share (Yuan/Share) | 0.08 | 0.09 | -11.11% | | Diluted Earnings Per Share (Yuan/Share) | 0.08 | 0.09 | -11.11% | | Weighted Average Return on Net Assets | 1.51% | 1.85% | -0.34% | | | End of Current Period | End of Prior Year | End of Current Period vs. End of Prior Year Change | | Total Assets (Yuan) | 2,893,747,802.35 | 2,952,013,573.54 | -1.97% | | Net Assets Attributable to Shareholders of Listed Company (Yuan) | 1,689,095,162.79 | 1,665,346,839.29 | 1.43% | Non-recurring Gains and Losses Items and Amounts | Item | Amount from Year Start to End of Reporting Period | Explanation | | :--- | :--- | :--- | | Other non-operating income and expenses apart from the above | -146,825.00 | | | Less: Income tax impact | -22,023.75 | | | Total | -124,801.25 | -- | Total Number of Shareholders and Top Ten Shareholders' Holdings at Period End The company had 29,752 shareholders, with concentrated holdings among the top ten, including the controlling shareholder's pledged shares - The total number of common shareholders at the end of the reporting period was 29,752[11] Top 10 Common Shareholders' Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held | Number of Shares with Restricted Sales | Pledged or Frozen Status Share Status Number | | :--- | :--- | :--- | :--- | :--- | :--- | | Li Biao | Domestic Natural Person | 18.99% | 64,006,957 | 64,006,957 | Pledged 59,000,000 | | Li Zaichun | Domestic Natural Person | 7.72% | 26,000,000 | 0 | | | Agricultural Bank of China - Baoying Strategy Growth Stock Investment Fund | Other | 2.38% | 8,020,992 | 0 | | | China Construction Bank - Baoying Resource Selection Stock Investment Fund | Other | 2.14% | 7,227,596 | 0 | | | Agricultural Bank of China - China Post Core Growth Stock Investment Fund | Other | 1.93% | 6,500,000 | 0 | | | Industrial and Commercial Bank of China - E Fund Value Growth Mixed Securities Investment Fund | Other | 1.86% | 6,265,675 | 0 | | | China Construction Bank Corporation - Fullgoal CSI Military Industry Index Graded Securities Investment Fund | Other | 1.65% | 5,556,869 | 0 | | | National Social Security Fund 116 Portfolio | Other | 1.48% | 5,000,000 | 0 | | | New China Life Insurance Co., Ltd. - Dividend - Group Dividend - 018L-FH001 Shenzhen | Other | 1.13% | 3,809,639 | 0 | | | Bank of China - Harvest Growth Income Securities Investment Fund | Other | 1.04% | 3,500,000 | 0 | | - Controlling shareholder Mr. Li Biao held 64,006,957 shares, a 18.99% stake, of which 59,000,000 shares were pledged[11][12] - Mr. Li Biao is the son of Mr. Li Zaichun[12] Significant Matters Multiple balance sheet, income statement, and cash flow items changed due to various operational and financial factors, with commitments fulfilled and H1 net profit expected to decline Changes and Reasons for Key Accounting Statement Items and Financial Indicators Significant changes across financial statements were driven by increased prepayments, asset reclassifications, loan repayments, tax reforms, and investment shifts Explanation of Balance Sheet Changes Prepayments and construction in progress increased, while short-term borrowings and other non-current assets decreased due to material purchases and asset reclassification - Prepayments increased by 18.44 million yuan, a 145.32% increase, mainly due to prepayments for materials in the current period[15] - Other non-current assets decreased by 66.21 million yuan, a 43.87% decrease, mainly due to the transfer of simulator prepayments from the previous period to construction in progress due to equipment installation and commissioning in the current period[15] - Short-term borrowings decreased by 50.00 million yuan, a 50.00% decrease, mainly due to the repayment of matured bank loans in the current period[15] Explanation of Income Statement Changes Business taxes decreased due to VAT reform, while financial expenses and asset impairment losses increased, and investment income declined - Business taxes and surcharges decreased by 0.86 million yuan, a 43.50% decrease, mainly due to the VAT reform reducing business taxes and surcharges for subsidiary Kunming Feian[15] - Financial expenses increased by 3.61 million yuan, a 58.62% increase, mainly due to increased loan interest expenses in the current period[17] - Investment income decreased by 2.01 million yuan, a 72.32% decrease, mainly because the previous period utilized idle funds to purchase short-term bank wealth management products, while there was no such item in the current period, reducing wealth management income[15] Explanation of Cash Flow Statement Changes Operating, investing, and financing cash flows all decreased, primarily due to reduced sales receipts, increased payments, and changes in investment and borrowing activities - Net cash flow from operating activities decreased by 84.64 million yuan, a 386.18% decrease, mainly due to a 31.82 million yuan decrease in cash received from sales, a 32.79 million yuan increase in cash paid for goods and services, and a 9.89 million yuan increase in other cash paid related to operating activities[16] - Net cash flow from investing activities decreased by 50.56 million yuan, a 277.19% decrease, mainly because the previous period utilized idle funds to purchase short-term bank wealth management products, reducing cash paid for investments by 215.00 million yuan and cash received from investment recovery by 295.33 million yuan, while there was no such item in the current period, and cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets decreased by 32.24 million yuan[16] - Net cash flow from financing activities decreased by 16.18 million yuan, a 36.80% decrease, mainly due to a 30.00 million yuan decrease in cash received from borrowings and a 10.00 million yuan decrease in cash paid for debt repayment[16] Progress of Significant Matters No significant matters requiring disclosure of progress, impact, or solutions occurred during the reporting period - The company had no significant matters requiring disclosure of their progress, impact, and solutions during the reporting period[17] Commitments All commitments by the company and major shareholders, including share lock-ups and non-compete clauses, are being strictly fulfilled Company and Shareholder Commitments | Commitment Source | Committed Party | Commitment Content | Commitment Date | Commitment Period | Fulfillment Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Acquisition Report or Equity Change Report Commitments | Li Biao | Within twelve months from the completion of this equity transfer agreement, I will not transfer the 64,006,957 shares of the company I hold. If the number of shares changes due to capital reserve conversion to share capital, stock dividends, rights issues, or additional issuance during the lock-up period, the locked-up share quantity will be adjusted accordingly. If I violate this commitment and reduce my holdings during the lock-up period, all proceeds from the reduction will be remitted to the company. | September 30, 2014 | 12 months | Strictly fulfilling | | Asset Restructuring Commitments | Li Zaichun; Wang Wanhe; Liu Shenghui; Li Biao; Zheng Chao; Li Gang | 1. During the period I hold shares in the company, I will prioritize the development of the company; 2. As a shareholder of the joint-stock company, I will not engage in businesses that compete with the joint-stock company, and I also commit not to engage in businesses that currently or potentially compete with the joint-stock company in the future. I will not use my shareholder status to transfer profits or engage in other actions that harm the interests of the company and other minority shareholders, to protect the legitimate rights and interests of the company and its minority shareholders. | November 08, 2000 | Long-term | Strictly fulfilling | | Initial Public Offering or Refinancing Commitments | Listed Company | Commit to truthfully, accurately, completely, fairly, and timely publish periodic reports, disclose all information that has a significant impact on investors, and accept supervision and management from the China Securities Regulatory Commission and stock exchanges; commit that the company will promptly clarify any news appearing in public media that may have a significant misleading impact on stock prices; the company's directors, supervisors, and senior management will earnestly listen to public opinions and criticisms, and will not use inside information or other improper means to directly or indirectly engage in buying and selling the company's stock. | March 25, 2013 | Long-term | Fulfilled | | Initial Public Offering or Refinancing Commitments | Bank of Communications - HFT Select Securities Investment Fund; Bank of China - HFT Income Growth Securities Investment Fund; Bank of China - HFT Select No. 2 Mixed Securities Investment Fund; Agricultural Bank of China - Guotai Jinniu Innovation Growth Stock Investment Fund; China Merchants Bank Co., Ltd. - HFT Enhanced Return Mixed Securities Investment Fund; Jia Lijuan; Huabao Trust Co., Ltd.; HFT Fund Management Co. - Bank of China - China Sea Trust No. 1 Asset Management Plan; National Social Security Fund 116 Portfolio; National Social Security Fund 112 Portfolio; Ping An Dawa Fund Management Co. - Ping An Bank - Ping An Trust Ping An Wealth Creation No. 1 Phase 14 Collective Fund Trust Plan | Huabao Trust Co., Ltd., Jia Lijuan, HFT Fund Management Co., Guotai Fund Management Co., and Ping An Dawa Fund Management Co. committed that the lock-up period for the subscribed shares is twelve months. | March 25, 2013 | 12 months | Fulfilled | - Commitments are being fulfilled in a timely manner: Yes[19] 2015 H1 Performance Forecast Net profit for H1 2015 is projected to decline by 0% to 30% due to increased operating expenses and higher financial costs from new projects and debt 2015 H1 Performance Forecast | Indicator | Data | | :--- | :--- | | Net profit attributable to shareholders of listed company is positive and not a turnaround from loss to profit | Yes | | 2015 H1 Net profit attributable to shareholders of listed company change range | -30.00% to 0.00% | | 2015 H1 Net profit attributable to shareholders of listed company range (10,000 Yuan) | 4,994.38 to 7,134.83 | | 2014 H1 Net profit attributable to shareholders of listed company (10,000 Yuan) | 7,134.83 | - The main reasons for performance change are increased operating expenses for Tianjin Haite Aircraft Engineering Co., Ltd. and Singapore AST Co., which are in the formal operation preparation and market development stages, as well as increased new R&D projects and higher financial expenses due to increased bank loans[21] Securities Investment The company did not engage in any securities investments during the reporting period - The company had no securities investments during the reporting period[20] Holdings in Other Listed Companies The company did not hold equity in any other listed companies during the reporting period - The company did not hold equity in other listed companies during the reporting period[21]