东方精工(002611) - 2018 Q3 - 季度财报

Financial Performance - Operating revenue for the reporting period increased by 4.06% to CNY 1,340,856,606.33, while revenue for the year-to-date increased by 54.27% to CNY 3,605,705,834.31[8] - Net profit attributable to shareholders increased by 98.30% to CNY 139,215,551.90 for the reporting period, and by 69.09% to CNY 346,030,254.32 year-to-date[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 66.53% to CNY 123,443,983.71 for the reporting period, and by 167.12% to CNY 314,064,191.08 year-to-date[8] - Basic earnings per share for the reporting period was CNY 0.08, a 100% increase, while year-to-date it was CNY 0.19, a 35.71% increase[8] - The estimated net profit attributable to shareholders for 2018 is projected to be between RMB 550.34 million and RMB 652.36 million, representing a year-on-year increase of 12.20% to 33.00%[27] - The company expects a growth rate of 35% to 80% in its net profit after excluding non-recurring gains and losses compared to the previous year[27] Cash Flow and Assets - Net cash flow from operating activities increased by 32.24% to CNY 203,485,487.65 for the reporting period, and by 217.21% to CNY 609,174,368.46 year-to-date[8] - The company’s cash flow from investing activities showed a significant decline, with a net outflow of RMB 81,815,847.65, compared to a much larger outflow of RMB 2,423,755,110.74 in the previous year[20] - Total assets at the end of the reporting period decreased by 4.73% to CNY 11,849,678,219.07 compared to the end of the previous year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,352[12] - The largest shareholder, Tang Zhuolin, held 14.72% of the shares, with 203,053,176 shares pledged[12] - The company has repurchased a total of 11,663,660 shares, accounting for 0.63% of the total share capital, with a total payment of approximately RMB 57.05 million[22] - The company plans to repurchase shares for up to RMB 200 million at a price not exceeding RMB 10 per share within 12 months from the approval date[22] Liabilities and Financial Expenses - The company reported a decrease in short-term borrowings by 41.55%, from RMB 463,384,763.82 to RMB 270,843,304.00, due to repayment of short-term loans[16] - The total liabilities decreased by 84.11% for non-current liabilities due within one year, from RMB 405,908,721.80 to RMB 64,507,148.13, primarily due to repayment related to the acquisition of Fosber S.p.A.[16] - The company’s financial expenses surged by 124.26% to RMB 19,547,604.21, mainly due to the financial costs associated with the acquisition of Beijing Pride[19] Inventory and Prepayments - Inventory levels rose by 47.61% to RMB 1,483,898,353.79, attributed to increased procurement of raw materials driven by sales growth[16] - The company’s prepayments increased by 102.12% to RMB 52,539,452.92, reflecting higher procurement of raw materials due to sales growth[16] Investments - The company recognized an investment income of RMB 25,854,672.85 from the sale of a 40% stake in Ferretto Group, marking a 53.64% increase compared to the previous period[19] - The company transferred 40% of its subsidiary Ferretto Group S.p.A. for a total consideration of €12.5 million, which positively impacts its financial status and cash flow[23] - The company has invested RMB 1.03 billion in bank wealth management products, with an outstanding balance of RMB 1.02 billion[31] Industry Impact - The company benefits from the booming new energy vehicle industry, with significant increases in sales orders for its subsidiary Beijing Pride[27]