万安科技(002590) - 2018 Q3 - 季度财报

Important Notice The company's management guarantees the authenticity, accuracy, and completeness of the quarterly report - The Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report's contents, and assume legal responsibility for any false records, misleading statements, or material omissions[4] - The company's responsible person Chen Feng, chief accountant Jiang Xuefang, and head of the accounting department Zhu Chao declare the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[5] Company Profile The company presents its core financial data, indicators, and shareholder structure as of the report date Key Accounting Data and Financial Indicators Total assets and revenue grew slightly, but net profit attributable to shareholders declined sharply, while operating cash flow improved significantly Key Balance Sheet Indicators (As of the end of the reporting period) | Indicator | Current Period End (CNY) | Previous Year End (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 3,719,505,111.78 | 3,554,991,222.95 | 4.63% | | Net Assets Attributable to Shareholders | 1,883,810,733.94 | 1,890,322,764.63 | -0.34% | Key Income Statement and Cash Flow Indicators | Indicator | Current Reporting Period (CNY) | YoY Change (Current Period) | YTD to Period End (CNY) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 530,816,394.55 | 0.52% | 1,716,476,586.54 | 3.80% | | Net Profit Attributable to Shareholders | 11,155,607.24 | -48.19% | 77,427,377.09 | -16.31% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 6,772,556.19 | -68.25% | 66,068,500.02 | -22.58% | | Net Cash Flow from Operating Activities | 124,604,690.99 | 159.07% | 190,417,994.49 | 86.14% | | Basic Earnings Per Share (CNY/Share) | 0.02 | -50.00% | 0.16 | -15.79% | | Diluted Earnings Per Share (CNY/Share) | 0.02 | -50.00% | 0.16 | -15.79% | | Weighted Average Return on Equity | 0.59% | -0.41% | 4.11% | 0.95% | Non-recurring Gains and Losses (YTD to Period End) | Item | Amount (CNY) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | 241,269.59 | | Government Grants Included in Current Profit or Loss | 13,029,942.19 | | Other Non-operating Income and Expenses | 160,170.24 | | Less: Income Tax Impact | 1,753,204.27 | | Minority Interest Impact (After Tax) | 319,300.68 | | Total | 11,358,877.07 | Shareholder Information The company had 45,915 common shareholders, with controlling shareholder Wan'an Group Co, Ltd holding 45.86%, part of which is pledged - At the end of the reporting period, the total number of common shareholders was 45,915[12] Top 10 Shareholders (Partial) | Shareholder Name | Shareholding Ratio | Number of Shares Held (Shares) | Number of Restricted Shares (Shares) | Pledged or Frozen Status (Shares) | | :--- | :--- | :--- | :--- | :--- | | Wan'an Group Co, Ltd | 45.86% | 219,980,700 | 0 | Pledged 32,000,000 | | Chen Feng | 4.99% | 23,940,000 | 17,955,000 | - | | Chen Lixiang | 4.89% | 23,476,530 | 17,607,397 | - | - Wan'an Group Co, Ltd is the company's controlling shareholder, and Chen Feng is the son of Chen Lixiang; six individuals including Chen Lixiang and Chen Feng are related parties and act as the company's actual controllers[13] Significant Events This section details significant changes in financial data, the status of commitments, and the company's 2018 earnings forecast Changes in Key Financial Data and Indicators Significant fluctuations in key financial metrics were driven by changes in prepayments, payables, government grants, and financing activities - Other non-current assets increased by 389.30% year-on-year, mainly due to an increase in prepayments for equipment and engineering projects[17] - Other payables increased by 261.80% year-on-year, primarily due to an increase in payables for equity acquisitions[17] - Net cash flow from operating activities increased by 86.14% year-on-year, mainly due to a decrease in cash paid for goods and services[17] - Net cash flow from financing activities decreased by 33.26% year-on-year, mainly due to a reduction in new borrowings during the period[16] - Other income increased by 100% year-on-year, primarily due to the reclassification of operating-related government grants to this category[17] - Minority interest income decreased by 61.25% year-on-year, mainly due to lower profits from a controlled subsidiary[17] Progress on Significant Matters The company had no significant matters with progress to disclose during the reporting period - There were no significant matters with progress, impact, or solutions to be disclosed during the reporting period[17] Fulfillment of Commitments The company's controlling parties and management strictly fulfilled all commitments, with no overdue or uncompleted items - The actual controllers and controlling shareholder have complied with their commitments to avoid non-competition during the reporting period[17][18] - The company's directors, supervisors, and senior management have complied with their commitments regarding lock-up periods and transfer restrictions for pre-IPO shares[18] - The controlling shareholder, actual controllers, directors, and senior management have complied with their refinancing-related commitments, including not interfering with company operations or encroaching on company interests[19] - During the reporting period, all commitments were fulfilled on time, with no overdue or uncompleted items[20] 2018 Annual Earnings Forecast The company forecasts a positive net profit for 2018, but expects a year-over-year change between -50% and 0% due to market conditions 2018 Annual Earnings Forecast | Indicator | Range | | :--- | :--- | | Net Profit Attributable to Shareholders (YoY Change) | -50.00% to 0.00% | | Net Profit Attributable to Shareholders (Range) | 62.83 million to 125.66 million CNY | | 2017 Net Profit Attributable to Shareholders | 125.66 million CNY | - The expected change in performance is mainly due to the industry-wide decline in passenger vehicle market sales, which will impact net profit[21] Financial Assets at Fair Value The company held no financial assets measured at fair value during the reporting period - The company had no financial assets measured at fair value during the reporting period[22] Irregular External Guarantees The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[22] Fund Occupation by Controlling Shareholders There was no non-operating fund occupation by controlling shareholders or their affiliates - The company reports no non-operating fund occupation by its controlling shareholder or their related parties[23] Entrusted Wealth Management The company did not engage in any entrusted wealth management activities during the period - The company had no entrusted wealth management activities during the reporting period[24] Investor Relations Activities The company hosted three on-site institutional research visits to discuss its production and operations Investor Visits During the Reporting Period | Reception Date | Reception Method | Visitor Type | Topics Discussed | | :--- | :--- | :--- | :--- | | March 05, 2018 | On-site Visit | Institution | Company's production and operations; no materials provided | | May 09, 2018 | On-site Visit | Institution | Company's production and operations; no materials provided | | May 25, 2018 | On-site Visit | Institution | Company's production and operations; no materials provided |