天宇股份(300702) - 2018 Q3 - 季度财报

Important Notice The Board of Directors, Supervisory Board, and senior management affirm the accuracy and completeness of this quarterly report, assuming legal responsibility - The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and bear legal responsibility for it[4] - Company representatives Tu Yongjun, Chief Accountant Wang Yan, and Head of Accounting Department Wang Chong jointly declare the truthfulness, accuracy, and completeness of the financial statements in this quarterly report[5] Company Profile This section provides an overview of the company's key financial data, shareholder structure, and changes in restricted shares Key Accounting Data and Financial Indicators As of the end of the reporting period, the company's total assets increased by 10.21% from the end of the previous year, with Q3 operating revenue up 30.35%, while year-to-date net profit attributable to shareholders decreased by 25.68% primarily due to non-recurring items, though net profit excluding non-recurring items saw a slight decrease of 2.80% Key Accounting Data and Financial Indicators | Indicator | End of Reporting Period/Current Period | Year-to-Date | YoY Change (YTD) | | :--- | :--- | :--- | :--- | | Total Assets (RMB) | 2,321,752,064.15 | - | 10.21% (vs. end of previous year) | | Net Assets Attributable to Shareholders (RMB) | 1,355,787,723.59 | - | 5.29% (vs. end of previous year) | | Operating Revenue (RMB) | 357,104,012.97 | 1,003,654,707.97 | 13.67% | | Net Profit Attributable to Shareholders (RMB) | 38,286,766.69 | 78,862,136.44 | -25.68% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (RMB) | 62,125,550.16 | 97,688,989.73 | -2.80% | | Net Cash Flow from Operating Activities (RMB) | - | 3,418,582.11 | -95.58% | | Basic Earnings Per Share (RMB/share) | 0.21 | 0.44 | -44.30% | Non-Recurring Gains and Losses (Year-to-Date) | Item | Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -2,456,446.83 | Primarily from disposal of expired and prematurely scrapped fixed assets | | Government Grants | 2,561,218.76 | Primarily from government subsidies received | | Fair Value Changes of Financial Instruments and Investment Income | -15,680,571.02 | Primarily due to exchange rate fluctuations affecting forward foreign exchange settlements and options, and wealth management income | | Other Non-Operating Income and Expenses | -724,324.06 | - | | Income Tax Impact | -2,526,730.14 | - | | Total | -18,826,853.29 | - | Shareholder Information As of the end of the reporting period, the company had 18,431 common shareholders, with Ms. Lin Jie and Mr. Tu Yongjun, a married couple, holding over 50% of the company's shares directly and indirectly, serving as the controlling shareholders and actual controllers - The total number of common shareholders at the end of the reporting period was 18,431[12] Top 10 Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Nature | | :--- | :--- | :--- | :--- | | Lin Jie | 39.30% | 71,530,819 | Domestic Natural Person | | Tu Yongjun | 14.09% | 25,643,404 | Domestic Natural Person | | Zhejiang Taizhou Shengting Investment Co., Ltd. | 6.58% | 11,969,414 | Domestic Non-State-Owned Legal Person | | Tu Shanzeng | 3.20% | 5,821,698 | Domestic Natural Person | | Wang Juqing | 3.20% | 5,821,697 | Domestic Natural Person | | Shanghai Jinglin Venture Capital Center (Limited Partnership) | 2.95% | 5,371,487 | Domestic Non-State-Owned Legal Person | - The company's largest shareholder, Lin Jie, and second largest shareholder, Tu Yongjun, are a married couple and serve as the controlling shareholders and actual controllers; Tu Yongjun is the son of Tu Shanzeng and Wang Juqing[13] Changes in Restricted Shares During the reporting period, the company's total restricted shares decreased from approximately 137 million to 130 million, primarily due to the lifting of restrictions on IPO shares held by Shanghai Jinglin Venture Capital Center and an increase from equity incentive plans for some executives and employees - During the reporting period, the company's total restricted shares decreased from 137,264,951 shares to 129,564,555 shares, with 8,680,355 shares released from restriction, primarily due to the unlocking of initial public offering (IPO) restricted shares[15][16][17] - Restricted share quantities for executives and core employees, including Tu Yongjun, Ma Cheng, and Cheng Rongde, changed due to executive lock-up or equity incentive plans[15][16][17] Significant Events This section details major changes in financial data, progress on significant matters, and compliance with commitments Significant Changes in Financial Data and Reasons During the reporting period, several financial indicators experienced significant changes, including a 91.04% increase in construction in progress due to project investments, a 1703.14% rise in advances from customers, a substantial decrease in financial expenses due to exchange gains, a sharp increase in fair value change losses from forward foreign exchange, and a 7405.17% surge in cash inflows from investing activities due to recovered wealth management principal Major Balance Sheet Item Changes | Item | Change Rate | Reason | | :--- | :--- | :--- | | Construction in Progress | 91.04% | Increased investment in fundraising projects | | Prepayments | 97.25% | Increased prepayments for raw materials | | Advances from Customers | 1703.14% | Increased advances for goods | | Taxes Payable | 281.67% | Increased corporate income tax payable | | Paid-in Capital | 51.68% | Equity incentives and capital reserve capitalization | Major Income Statement Item Changes (Year-to-Date) | Item | Change Rate | Reason | | :--- | :--- | :--- | | Financial Expenses | -94.43% | Due to exchange rate fluctuations affecting foreign currency | | Asset Impairment Losses | 479.20% | Due to increased bad debts from accounts receivable | | Investment Income | 358.88% | Due to wealth management income from idle raised funds | | Fair Value Change Gains/Losses | -2,418.46% | Due to exchange rate fluctuations affecting forward foreign exchange settlements | | Non-Operating Expenses | 102.40% | Due to increased losses from disposal of non-current assets | Major Cash Flow Statement Item Changes (Year-to-Date) | Item | Change Rate | Reason | | :--- | :--- | :--- | | Cash Received from Other Investing Activities | 7405.17% | Due to recovery of principal from wealth management of idle raised funds | | Cash Paid for Other Investing Activities | 175738.00% | Due to payment for wealth management of idle raised funds | | Cash Received from Investments | -94.91% | Received raised funds from initial public offering in the same period last year | | Effect of Exchange Rate Changes on Cash | 199.90% | Due to exchange rate changes | Progress of Significant Matters The company provided an update on the Valsartan API incident, having undergone a for-cause on-site inspection by EDQM regarding Valsartan NDMA, receiving a "List of Deficiencies" on October 18 with no critical deficiencies, and is actively preparing its response - The company underwent a for-cause on-site inspection by the European Directorate for the Quality of Medicines & HealthCare (EDQM) regarding Valsartan NDMA from September 5 to 8, 2018[23] - On October 18, the company received the "List of Deficiencies" email from EDQM regarding this inspection, confirming no critical deficiencies, and is currently actively preparing its response[23] Other Commitments and Compliance Matters During the reporting period, the company had no overdue unfulfilled commitments, no non-compliant cash dividend policy execution, no need for significant performance change warnings, no illegal external guarantees, and no non-operating fund occupation by controlling shareholders - The company had no overdue unfulfilled commitments during the reporting period[25] - There were no instances of illegal external guarantees by the company during the reporting period[26] - There was no non-operating occupation of funds by the controlling shareholder or its related parties from the listed company during the reporting period[27] Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for the third quarter of 2018 Financial Statements This section provides the company's consolidated and parent company balance sheets, income statements, and cash flow statements for the third quarter of 2018, showing steady asset growth but fluctuating profitability and operating cash flow influenced by external factors like exchange rates and internal operations such as increased procurement Consolidated Balance Sheet As of September 30, 2018, the company's total assets were RMB 2.32 billion, up 10.21% from the beginning of the year; total liabilities were RMB 0.97 billion, up 17.94%; and net assets attributable to shareholders were RMB 1.36 billion, up 5.29%, with the asset-liability ratio increasing from 38.88% to 41.60% Consolidated Balance Sheet Summary (September 30, 2018) | Item | Period-End Balance (RMB) | Period-Beginning Balance (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,321,752,064.15 | 2,106,652,190.74 | 10.21% | | Total Liabilities | 965,964,340.56 | 818,991,851.48 | 17.94% | | Total Equity Attributable to Parent Company Owners | 1,355,787,723.59 | 1,287,660,339.26 | 5.29% | Consolidated Income Statement In Q3 2018 (July-September), the company achieved RMB 357 million in operating revenue, a 30.35% increase year-on-year, and RMB 38.29 million in net profit attributable to shareholders, up 24.52%; year-to-date (January-September), cumulative operating revenue reached RMB 1.00 billion, up 13.67%, but cumulative net profit attributable to shareholders was RMB 78.86 million, a 25.68% decrease, primarily due to a significant fair value change loss of RMB 28.32 million (compared to a loss of RMB 1.12 million in the prior year) Consolidated Income Statement (Q3 2018 vs Q3 2017) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 357,104,012.97 | 273,960,759.90 | 30.35% | | Operating Profit | 50,103,927.79 | 37,175,900.01 | 34.79% | | Net Profit Attributable to Parent Company Owners | 38,286,766.69 | 30,746,610.77 | 24.52% | Consolidated Income Statement (YTD 2018 vs YTD 2017) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,003,654,707.97 | 882,974,276.90 | 13.67% | | Operating Profit | 97,204,585.74 | 130,007,613.64 | -25.23% | | Net Profit Attributable to Parent Company Owners | 78,862,136.44 | 106,111,732.26 | -25.68% | Consolidated Cash Flow Statement In the first three quarters of 2018, net cash flow from operating activities was RMB 3.42 million, a 95.58% decrease from RMB 77.36 million in the prior year, mainly due to a 34.62% increase in cash paid for goods and services; net cash inflow from investing activities was RMB 2.84 million due to recovered wealth management principal; and net cash inflow from financing activities was RMB 56.22 million, significantly lower than RMB 643 million in the prior year due to IPO proceeds Consolidated Cash Flow Statement Summary (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 3,418,582.11 | 77,362,489.47 | -95.58% | | Net Cash Flow from Investing Activities | 2,835,126.80 | -101,633,273.95 | Not Applicable | | Net Cash Flow from Financing Activities | 56,216,026.21 | 642,942,563.88 | -91.26% | | Net Increase in Cash and Cash Equivalents | 66,666,654.71 | 614,470,507.93 | -89.15% | Audit Report The company's 2018 third-quarter report is unaudited - The company's third-quarter report is unaudited[61]