Part I Important Notice Directors, supervisors, and senior management guarantee the report's truthfulness and completeness, while the quarterly report remains unaudited and includes forward-looking statements - The company's directors, supervisors, and senior management bear individual and joint and several liability for the truthfulness, accuracy, and completeness of the report content6 - This quarterly report has not been audited by an accounting firm6 Compliance Statement for Significant Matters | Matter | Existed in Reporting Period (Yes/No) | Underwent Internal Review Procedure | Timely Disclosure Obligation Fulfilled | Interim Announcement Index | | :--- | :--- | :--- | :--- | :--- | | Do directors, supervisors, or senior management object to or cannot guarantee the truthfulness, accuracy, or completeness of the quarterly report | No | N/A | Yes | - | | Are there directors who did not attend the board meeting to review the quarterly report | No | N/A | N/A | - | | Are there matters not disclosed as required | No | N/A | N/A | - | | Audited | No | N/A | N/A | - | | Issued with a non-standard audit opinion | No | N/A | N/A | - | Part II Company Profile I. Key Financial Data Year-to-date operating revenue declined 16.29%, net profit fell 117.06% to a CNY 6.70 million loss, while operating cash flow grew 54.19% Key Financial Data (Year-to-Date) | Item | Jan-Sep 2023 (CNY) | Jan-Sep 2022 (CNY) | YoY Change % | | :--- | :--- | :--- | :--- | | Operating Revenue | 263,892,309.74 | 315,246,582.52 | -16.29% | | Net Profit Attributable to Shareholders of Listed Company | -6,700,768.86 | 39,281,992.76 | -117.06% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | -17,364,948.54 | 25,340,405.56 | -168.53% | | Net Cash Flow from Operating Activities | 54,552,655.10 | 35,379,046.43 | 54.19% | | Basic Earnings Per Share (CNY/share) | -0.09 | 0.51 | -117.65% | | Weighted Average Return on Net Assets % (based on Net Profit Attributable to Shareholders of Listed Company) | -1.30% | 7.76% | - | | Weighted Average Return on Net Assets % (based on Net Profit Attributable to Shareholders of Listed Company, excluding Non-Recurring Gains/Losses) | -3.37% | 5.00% | - | Key Financial Data (Current Reporting Period Jul-Sep 2023) | Item | Jul-Sep 2023 (CNY) | Jul-Sep 2022 (CNY) | YoY Change % | | :--- | :--- | :--- | :--- | | Operating Revenue | 96,508,587.14 | 80,600,067.45 | 19.74% | | Net Profit Attributable to Shareholders of Listed Company | -2,334,878.65 | 4,786,614.87 | -148.78% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | -4,028,251.71 | 2,207,008.20 | -282.52% | | Net Cash Flow from Operating Activities | 13,180,615.88 | 15,107,556.85 | -12.75% | | Basic Earnings Per Share (CNY/share) | -0.03 | 0.06 | -150.00% | | Weighted Average Return on Net Assets % (based on Net Profit Attributable to Shareholders of Listed Company) | -0.46% | 0.93% | - | | Weighted Average Return on Net Assets % (based on Net Profit Attributable to Shareholders of Listed Company, excluding Non-Recurring Gains/Losses) | -0.80% | 0.43% | - | Balance Sheet Item Changes and Reasons | Consolidated Balance Sheet Item | As of Sep 30, 2023 (CNY) | Change % | Explanation of Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 115,500,571.82 | 135.77% | Redemption of matured cash management products from idle raised funds, increasing net cash inflow | | Notes Receivable | 17,013,412.68 | -39.25% | Decrease in notes receivable collected during the period | | Other Current Assets | 30,154,199.72 | -78.17% | Maturity and redemption of structured deposits | | Construction in Progress | 11,457,283.50 | 337.33% | R&D building for the "R&D Center Construction" fundraising project is under construction | | Other Non-Current Assets | 9,871,035.86 | 53.57% | Increase in prepaid equipment and software fees | | Taxes Payable | 6,832,706.70 | 176.55% | Some input VAT has not yet been deducted, increasing the VAT balance at period-end | | Deferred Income | 49,891,889.33 | 34.87% | New government grants related to assets | Income Statement Item Changes and Reasons | Consolidated Income Statement Item | Year-to-Date (CNY) | Change % | Explanation of Change | | :--- | :--- | :--- | :--- | | Financial Expenses | 491,984.09 | 117.62% | Decrease in idle raised funds balance, leading to reduced interest income | | Other Income | 5,188,689.28 | 32.57% | New government grants related to assets, increasing deferred amortization amount | | Gains/Losses from Changes in Fair Value (losses indicated by '-') | 0.00 | -100.00% | No gains from financial assets held for trading in this period | | Credit Impairment Losses (losses indicated by '-') | -235,082.04 | -119.12% | Increase in accounts receivable balance, leading to increased provision for bad debts | | Asset Impairment Losses (losses indicated by '-') | -8,992,914.02 | -349.84% | Increase in provision for inventory obsolescence | | Gains/Losses on Asset Disposal (losses indicated by '-') | -180,473.01 | -108.83% | Increase in losses from disposal of fixed assets | | Operating Profit | -14,769,359.80 | -143.09% | Decrease in product sales orders and unit prices, leading to reduced operating revenue, weakened economies of scale, and lower gross profit margin12 | | Non-Operating Income | 5,930,228.24 | -31.37% | Received government grants for listing rewards in the prior period, decreased in this period | | Income Tax Expense | -2,175,575.19 | -160.35% | Decrease in total profit leading to reduced income tax expense | | Net Profit | -6,700,768.86 | -117.06% | Decrease in product sales orders and unit prices, leading to reduced operating revenue, weakened economies of scale, and lower gross profit margin13 | Cash Flow Statement Item Changes and Reasons | Consolidated Cash Flow Statement Item | Year-to-Date (CNY) | Change % | Explanation of Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,552,655.10 | 54.19% | Strengthened supplier credit management, reduced cash payment ratio; increased VAT retention refunds and export tax rebates13 | | Net Cash Flow from Investing Activities | 62,054,702.41 | 130.26% | Redemption of matured cash management products from idle raised funds, resulting in net cash inflow | Non-Recurring Gains and Losses Items and Amounts (Year-to-Date) | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -127,855.49 | | Government Grants Recognized in Current Profit/Loss (excluding those closely related to the company's operations and enjoyed at fixed or quantitative standards) | 10,989,167.72 | | Gains/Losses from Entrusted Investments or Asset Management (e.g., wealth management income) | 1,590,662.32 | | Other Non-Operating Income Not Listed Above | 125,647.13 | | Other Non-Operating Expenses Not Listed Above (losses indicated by '-') | -37,212.49 | | Total Non-Recurring Gains and Losses | 12,540,409.19 | | Income Tax Impact | 1,876,229.51 | | Net Non-Recurring Gains and Losses | 10,664,179.68 | II. Common Share Capital Structure, Shareholders Holding 5% or More, or Top Ten Shareholders at Period-End Total share capital is 76.47 million shares, with top two shareholders holding 65.82%, indicating concentrated family ownership Changes in Common Share Capital Structure | Share Type | Beginning of Period (Shares) | Beginning of Period % | Current Period Change (Shares) | End of Period (Shares) | End of Period % | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Unrestricted Shares | 38,999,590 | 51.00% | -1,854,136 | 37,145,454 | 48.58% | | Total Restricted Shares | 37,468,410 | 49.00% | 1,854,136 | 39,322,546 | 51.42% | | Total Share Capital | 76,468,000 | - | 0 | 76,468,000 | - | | Number of Common Shareholders | - | - | - | 6,961 | - | Shareholders Holding 5% or More, or Top Ten Shareholders | No. | Shareholder Name | Shareholder Type | Shares Held at Period-End | Percentage of Shares Held at Period-End % | Restricted Shares Held at Period-End | Unrestricted Shares Held at Period-End | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1 | Hou Shiyi | Domestic Natural Person | 29,376,200 | 38.42% | 22,032,150 | 7,344,050 | | 2 | Hou Xue | Domestic Natural Person | 20,949,005 | 27.40% | 15,711,754 | 5,237,251 | | 3 | Guangzhou CVTE Group Co., Ltd. | Domestic Non-State-Owned Legal Entity | 764,190 | 1.00% | 0 | 764,190 | | 4 | Zheng Shanfa | Domestic Natural Person | 637,000 | 0.83% | 477,750 | 159,250 | | 5 | Xu Fei | Domestic Natural Person | 490,000 | 0.64% | 367,500 | 122,500 | | 6 | Fan Leigang | Domestic Natural Person | 483,000 | 0.63% | 0 | 483,000 | | 7 | Chen Weiyan | Domestic Natural Person | 450,800 | 0.59% | 338,100 | 112,700 | | 8 | Liu Dongji | Domestic Natural Person | 431,435 | 0.56% | 0 | 431,435 | | 9 | Li Ting | Domestic Natural Person | 352,800 | 0.46% | 0 | 352,800 | | 10 | Gong Zhenqing | Domestic Natural Person | 333,361 | 0.44% | 0 | 333,361 | | Total | - | - | 54,267,791 | 70.97% | 38,927,254 | 15,340,537 | - Shareholder Hou Xue is the daughter of shareholder Hou Shiyi; shareholder Xu Fei is the spouse of Hou Shiyi's sister, indicating family-related party relationships among major shareholders19 - No shares held by shareholders with 5% or more or the top ten shareholders were pledged or judicially frozen20 III. Preferred Shares Remaining in the Current Period The company had no preferred shares during the reporting period - The company has no preferred shares20 Part III Significant Events Compliance Status of Significant Matters Significant matters like external guarantees and asset pledges complied with internal review and disclosure requirements, with no other major issues Compliance Status of Significant Matters | Matter | Existed in Reporting Period (Yes/No) | Underwent Internal Review Procedure | Timely Disclosure Obligation Fulfilled | Interim Announcement Index | | :--- | :--- | :--- | :--- | :--- | | Litigation, Arbitration Matters | No | N/A | Yes | - | | External Guarantee Matters | Yes | Timely fulfilled in advance | Yes | 2023-034 | | External Loan Matters | No | N/A | N/A | - | | Occupation or Transfer of Company Funds, Assets, and Other Resources by Shareholders and Their Related Parties | No | N/A | N/A | - | | Forecast and Execution of Routine Related-Party Transactions | No | N/A | N/A | - | | Other Major Related-Party Transactions | Yes | Timely fulfilled in advance | Yes | 2023-019 | | Acquisition, Disposal of Assets, External Investment Matters Approved by Shareholders' Meeting, or Business Mergers Occurring in This Quarter | No | N/A | N/A | - | | Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures | No | N/A | N/A | - | | Share Repurchase Matters | No | N/A | N/A | - | | Disclosed Commitment Matters | Yes | Timely fulfilled in advance | Yes | 2022-016 | | Assets Seized, Detained, Frozen, Mortgaged, or Pledged | Yes | Timely fulfilled in advance | Yes | 2023-019, 2023-033 | | Matters Under Investigation or Penalized | No | N/A | N/A | - | | Dishonesty Status | No | N/A | N/A | - | | Other Significant Matters | No | N/A | N/A | - | Details, Progress, and Other Significant Matters The company provided a CNY 200 million guarantee for a subsidiary, actual controllers provided CNY 50 million in gratuitous guarantees, and CNY 36.52 million in assets were pledged - The company provided a joint and several liability guarantee of up to CNY 200 million for its wholly-owned subsidiary Hefei Jingweite, with a maximum outstanding balance of CNY 15 million at period-end23 - The company's actual controller and related parties provided gratuitous guarantees for the company and its controlled subsidiaries, with an outstanding balance of CNY 50 million at period-end23 - The company, its controlling shareholders, actual controllers, directors, supervisors, and senior management have no overdue unfulfilled commitments24 Asset Mortgage and Pledge Status | Asset Name | Asset Type | Type of Restricted Right | Book Value (CNY) | Percentage of Total Assets % | Reason for Occurrence | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | Current Assets | Pledge | 7,195,493.08 | 0.94% | Bank Acceptance Bill Deposit | | Notes Receivable | Current Assets | Pledge | 790,114.50 | 0.10% | Pledged for Acceptance Bill Issuance | | Financing for Receivables | Current Assets | Pledge | 6,565,694.14 | 0.85% | Pledged for Acceptance Bill Issuance | | Buildings and Structures | Fixed Assets | Mortgage | 18,862,963.04 | 2.45% | Collateral for Bank Credit | | Land Use Rights | Intangible Assets | Mortgage | 3,108,560.00 | 0.40% | Collateral for Bank Credit | | Total | - | - | 36,522,824.76 | 4.75% | - | Part IV Financial Accounting Report I. Audit Status of Financial Report This quarterly financial report has not been audited - This quarterly financial report has not been audited26 II. Financial Statements This section presents the Q3 2023 consolidated and parent company financial statements, showing asset and profit declines but improved operating cash flow (I) Consolidated Balance Sheet Consolidated total assets decreased 5.56% to CNY 769 million, while cash and cash equivalents significantly increased by 135.77% Key Consolidated Balance Sheet Data | Item | Sep 30, 2023 (CNY) | Dec 31, 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Total Assets | 768,951,070.09 | 814,188,627.59 | -5.56% | | Net Assets Attributable to Shareholders of Listed Company | 503,398,008.90 | 523,863,017.76 | -3.91% | | Cash and Cash Equivalents | 115,500,571.82 | 48,989,300.91 | 135.77% | | Notes Receivable | 17,013,412.68 | 28,007,500.37 | -39.25% | | Other Current Assets | 30,154,199.72 | 138,124,279.36 | -78.17% | | Construction in Progress | 11,457,283.50 | 2,619,818.97 | 337.33% | | Deferred Income | 49,891,889.33 | 36,991,520.69 | 34.87% | | Total Liabilities | 265,553,061.19 | 290,325,609.83 | -8.49% | (II) Parent Company Balance Sheet Parent company total assets decreased 2.76% to CNY 510 million, with current assets down 40.41% and long-term equity investments up 105.56% Key Parent Company Balance Sheet Data | Item | Sep 30, 2023 (CNY) | Dec 31, 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Total Assets | 509,754,850.97 | 524,244,439.88 | -2.76% | | Total Current Assets | 158,210,982.27 | 265,480,463.71 | -40.41% | | Total Non-Current Assets | 351,543,868.70 | 258,763,976.17 | 35.88% | | Long-Term Equity Investments | 185,000,000.00 | 90,000,000.00 | 105.56% | | Total Liabilities | 103,655,765.74 | 111,585,322.92 | -7.11% | | Total Owner's Equity | 406,099,085.23 | 412,659,116.96 | -1.59% | (III) Consolidated Income Statement Consolidated operating revenue decreased 16.29% to CNY 264 million, resulting in a net loss of CNY 6.70 million for Jan-Sep 2023 Key Consolidated Income Statement Data (Jan-Sep 2023) | Item | Jan-Sep 2023 (CNY) | Jan-Sep 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 263,892,309.74 | 315,246,582.52 | -16.29% | | Total Operating Costs | 276,032,552.07 | 288,169,822.48 | -4.21% | | R&D Expenses | 13,342,608.72 | 18,924,408.44 | -29.50% | | Financial Expenses | 491,984.09 | -2,791,759.42 | 117.62% | | Operating Profit | -14,769,359.80 | 34,276,778.67 | -143.09% | | Net Profit | -6,700,768.86 | 39,281,992.76 | -117.06% | | Basic Earnings Per Share (CNY/share) | -0.09 | 0.51 | -117.65% | (IV) Parent Company Income Statement Parent company operating revenue increased 15.48% to CNY 141 million, but net profit decreased 76.23% to CNY 7.20 million Key Parent Company Income Statement Data (Jan-Sep 2023) | Item | Jan-Sep 2023 (CNY) | Jan-Sep 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Operating Revenue | 141,149,731.59 | 122,220,860.60 | 15.48% | | Operating Costs | 120,364,016.28 | 102,912,974.46 | 17.00% | | R&D Expenses | 5,911,327.46 | 7,371,722.21 | -19.81% | | Financial Expenses | 344,953.29 | -839,141.22 | 141.11% | | Investment Income (losses indicated by '-') | 1,307,763.64 | 21,780,475.21 | -94.00% | | Net Profit | 7,204,208.27 | 30,285,235.43 | -76.23% | (V) Consolidated Cash Flow Statement Consolidated net cash flow from operating activities increased 54.19% to CNY 54.55 million, while investing cash flow turned positive to CNY 62.05 million Key Consolidated Cash Flow Statement Data (Jan-Sep 2023) | Item | Jan-Sep 2023 (CNY) | Jan-Sep 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,552,655.10 | 35,379,046.43 | 54.19% | | Net Cash Flow from Investing Activities | 62,054,702.41 | -205,072,494.99 | 130.26% | | Net Cash Flow from Financing Activities | -29,883,279.23 | -11,128,773.85 | -168.53% | | Net Increase in Cash and Cash Equivalents | 86,736,479.88 | -178,990,915.79 | 148.46% | | Cash and Cash Equivalents at Period-End | 108,305,078.74 | 38,504,310.37 | 181.28% | (VI) Parent Company Cash Flow Statement Parent company net cash flow from operating activities turned positive to CNY 36.60 million, and investing cash flow also became positive at CNY 12.04 million Key Parent Company Cash Flow Statement Data (Jan-Sep 2023) | Item | Jan-Sep 2023 (CNY) | Jan-Sep 2022 (CNY) | Change % | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 36,598,550.82 | -6,323,113.11 | 678.90% | | Net Cash Flow from Investing Activities | 12,037,843.29 | -133,624,102.44 | 109.00% | | Net Cash Flow from Financing Activities | -35,431,753.98 | -15,600,754.18 | -127.12% | | Net Increase in Cash and Cash Equivalents | 13,211,028.68 | -155,498,922.06 | 108.49% | | Cash and Cash Equivalents at Period-End | 25,720,645.56 | 32,281,830.78 | -20.32% |
晶赛科技(871981) - 2023 Q3 - 季度财报