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奋达科技(002681) - 2016 Q3 - 季度财报
Fenda TechFenda Tech(SZ:002681)2016-10-23 16:00

Important Notices Board of Directors' Statement The Board of Directors, Supervisory Committee, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility - The company's Board of Directors, Supervisory Committee, directors, supervisors, and senior management guarantee that the contents of the quarterly report are true, accurate, and complete, with no false records, misleading statements, or major omissions4 - The company's responsible person Xiao Fen, chief accountant Xiao Xiao, and head of the accounting department Xiao Yuan declare that they guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report5 Key Financial Data and Shareholder Changes Key Accounting Data and Financial Indicators The company achieved steady performance growth, with revenue and net profit attributable to parent company shareholders increasing by 12.87% and 21.92% respectively year-to-date Key Financial Indicators for Q3 2016 | Indicator | Year-to-Date | YoY Change vs Year-to-Date | | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,386,138,414.11 | 12.87% | | Net Profit Attributable to Shareholders (RMB) | 240,625,455.12 | 21.92% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 235,619,823.17 | 27.44% | | Net Cash Flow from Operating Activities (RMB) | 283,465,053.19 | 63.36% | | Basic Earnings Per Share (RMB/Share) | 0.1944 | 17.82% | | Weighted Average Return on Equity | 9.27% | -0.28% | | Balance Sheet Indicators | End of Reporting Period | Change from Prior Year-End | | Total Assets (RMB) | 3,907,443,841.80 | 25.09% | | Net Assets Attributable to Shareholders (RMB) | 2,771,645,401.18 | 11.56% | Non-recurring Profit and Loss Items and Amounts (Year-to-Date) | Item | Amount (RMB) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -131,988.89 | | Government Grants Included in Current Profit/Loss | 3,124,215.00 | | Gain/Loss from Entrusted Investment or Asset Management | 1,475,572.93 | | Other Non-operating Income and Expenses | 1,421,914.72 | | Total | 5,005,631.95 | Shareholder Information As of the period end, the company had 51,216 common shareholders, with the controlling shareholder holding 44.52% and having family ties to several top ten shareholders - At the end of the reporting period, the total number of common shareholders was 51,21612 Top 10 Shareholders' Holdings | Shareholder Name | Shareholding Ratio | Number of Shares | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | | Xiao Fen | 44.52% | 555,221,740 | Pledged 320,140,000 | | Xinyu Shenye Investment Partnership (LP) | 8.42% | 104,994,782 | Pledged 23,340,000 | | Xiao Yong | 4.03% | 50,221,318 | Pledged 31,200,000 | | Liu Fangjue | 3.25% | 40,500,000 | - | | Xiao Xiao | 2.68% | 33,400,000 | Pledged 16,600,000 | - The company's controlling shareholder, Xiao Fen, has a related party relationship or acts in concert with several top 10 shareholders, including Liu Fangjue (spouse), Xiao Yun (daughter), Xiao Wenying (sister), Xiao Yong (brother), Xiao Wu (brother), and Xiao Xiao (brother-in-law)13 Important Matters Analysis of Changes in Financial Statement Items Significant changes occurred in various financial and balance sheet items, driven by policy shifts, currency depreciation, debt issuance, and operational activities Changes in Key Financial Indicators and Reasons | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Financial Expenses | -62.88% | Primarily due to foreign exchange gains from RMB depreciation and interest income from bank deposits | | Asset Impairment Loss | 314.96% | Primarily due to the reversal of bad debt provisions as prior-year accounts receivable were collected this period | | Net Cash Flow from Operating Activities | 63.36% | Primarily due to increased collection of accounts receivable and higher cash receipts from revenue growth | | Net Cash Flow from Financing Activities | 57.98% | Primarily due to the issuance of the first tranche of corporate bonds during the reporting period | Changes in Key Balance Sheet Items and Reasons | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Prepayments | 693% | Primarily due to advance payments for equipment purchases and prepaid external service fees | | Inventories | 38% | To build up stock for the peak sales season in the fourth quarter | | Other Current Assets | 1442% | Primarily due to the issuance of the first tranche of corporate bonds | | Construction in Progress | 102% | Primarily due to payments for the company's Phase II construction project and equipment purchases | | Long-term Deferred Expenses | 1293% | Primarily due to a temporary payment by Oupengda for the purchase of land use rights in Dongguan Qingxi | | Bonds Payable | N/A | A new issuance of RMB 400 million from the first tranche of corporate bonds | | Capital Reserve | -48% | Primarily due to the implementation of the 2015 equity distribution plan, where capital reserve was converted to share capital | Status of Commitment Fulfillment All commitments made by the company and related parties regarding asset restructuring and IPOs were strictly fulfilled during the reporting period without any breaches - The controlling shareholder Xiao Fen and related party Xinyu Shenye Investment are strictly adhering to share lock-up commitments (36-month or 12-month periods) made regarding the asset restructuring1920 - The controlling shareholder Xiao Fen and related parties have made long-term, ongoing commitments to avoid non-competition, regulate related-party transactions, and assume liability for historical compliance issues (e.g., leasing, business registration, taxes)212224 - The company has a long-term, ongoing commitment to distribute annual cash dividends of no less than 25% of the distributable profit for the year25 - The report explicitly states that all commitments were fulfilled on time28 2016 Annual Business Performance Forecast The company forecasts a 20% to 50% year-over-year increase in net profit for 2016, driven by returns on prior investments and stable business growth 2016 Performance Forecast | Item | Details | | :--- | :--- | | Net Profit Change Range | 20.00% to 50.00% | | Net Profit Range (RMB million) | 352.03 to 440.04 | | 2015 Net Profit (RMB million) | 293.36 | - Performance growth is attributed to returns generated from prior-year investments, stable growth in the main business, and effective cost reduction and efficiency improvement measures, leading to increased net profit29 Investor Relations Activities The company hosted two on-site institutional investor visits in May 2016 to discuss its corporate strategy, market planning, and product development - The company hosted two on-site institutional investor visits on May 10 and May 24, 201632 - The discussions primarily focused on the company's development strategy, future market planning, and new product and customer development32