恒丰纸业(600356) - 2025 Q1 - 季度财报

Important Content Disclosure The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[2] Key Financial Data In Q1 2025, the company demonstrated strong financial performance with significant growth in operating revenue and net profit attributable to parent, a substantial increase in net cash flow from operating activities, and steady growth in total assets and owners' equity Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue grew by 26.80%, net profit attributable to parent by 26.55%, basic earnings per share by 28.57%, and net cash flow from operating activities surged by 237.51%, with total assets and owners' equity attributable to parent increasing by 2.72% and 1.09% respectively Key Accounting Data and Financial Indicators for Q1 2025 | Item | Current Period (RMB) | Prior Year Same Period (RMB) | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 674,235,983.11 | 531,727,580.77 | 26.80 | | Net Profit Attributable to Parent Company Shareholders | 28,029,546.64 | 22,148,763.71 | 26.55 | | Net Profit Attributable to Parent Company Shareholders Excluding Non-Recurring Gains and Losses | 23,806,203.11 | 19,404,044.93 | 22.69 | | Net Cash Flow from Operating Activities | 91,517,614.73 | 27,115,491.04 | 237.51 | | Basic Earnings Per Share (RMB/share) | 0.09 | 0.07 | 28.57 | | Diluted Earnings Per Share (RMB/share) | 0.09 | 0.07 | 28.57 | | Weighted Average Return on Net Assets (%) | 1.07 | 0.88 | Increase of 0.19 percentage points | | Item | End of Current Period (RMB) | End of Prior Year (RMB) | Period-End vs. Prior Year-End Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,566,905,501.11 | 3,472,618,236.40 | 2.72 | | Owners' Equity Attributable to Parent Company Shareholders | 2,601,240,754.22 | 2,573,211,898.28 | 1.09 | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to RMB 4,223,343.53, primarily comprising government grants and other non-operating income and expenses Non-Recurring Gains and Losses Items and Amounts for Q1 2025 | Non-Recurring Gains and Losses Item | Current Period Amount (RMB) | | :--- | :--- | | Government Grants Included in Current Profit and Loss | 4,291,759.25 | | Other Non-Operating Income and Expenses Apart from the Above | 1,020,535.87 | | Less: Income Tax Impact | 796,844.27 | | Minority Interest Impact (After Tax) | 292,107.32 | | Total | 4,223,343.53 | Changes and Reasons for Key Accounting Data and Financial Indicators Net cash flow from operating activities significantly increased by 237.51% year-over-year, primarily due to a substantial increase in collections driven by higher sales volume - Net cash flow from operating activities increased by 237.51% year-over-year, primarily due to a significant increase in collections resulting from higher sales volume[7] Shareholder Information Discloses the total number of common shareholders and the top ten shareholders' holdings as of the end of the reporting period, indicating a relatively stable equity structure with Mudanjiang Hengfeng Paper Group Co., Ltd. as the largest shareholder Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 17,448 common shareholders, with Mudanjiang Hengfeng Paper Group Co., Ltd. holding 89,423,083 shares, representing 29.93%, as the largest shareholder - The total number of common shareholders at the end of the reporting period was 17,448[9] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Mudanjiang Hengfeng Paper Group Co., Ltd. | State-owned Legal Person | 89,423,083 | 29.93 | | Mudanjiang Hengfeng Paper Co., Ltd. - First Employee Stock Ownership Plan | Other | 8,153,940 | 2.73 | | Dong Yanming | Domestic Natural Person | 6,376,100 | 2.13 | Other Reminders No other significant operational information requiring investor attention was identified during the reporting period - No other significant operational information requiring investor attention was identified during the reporting period[12] Quarterly Financial Statements Presents the company's unaudited consolidated balance sheet, income statement, and cash flow statement for Q1 2025, comprehensively reflecting the financial position and operating results at the end of the reporting period Type of Audit Opinion The financial statements for this quarter are unaudited - The first quarter financial statements are unaudited[3] Financial Statements Details the company's consolidated balance sheet, income statement, and cash flow statement for Q1 2025, reflecting asset structure, profitability, and cash flow during the reporting period Consolidated Balance Sheet As of March 31, 2025, total assets reached RMB 3.567 billion, a 2.72% increase from the prior year-end, with significant growth in monetary funds, inventories, fixed assets, and short-term borrowings, while accounts receivable and construction in progress decreased Consolidated Balance Sheet Key Item Changes (March 31, 2025 vs. December 31, 2024) | Item | March 31, 2025 (RMB) | December 31, 2024 (RMB) | Change Amount (RMB) | Change Percentage (%) | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 400,272,964.55 | 320,760,120.43 | 79,512,844.12 | 24.79 | | Accounts Receivable | 608,100,512.73 | 661,419,335.58 | -53,318,822.85 | -8.06 | | Inventories | 821,590,484.18 | 748,388,571.94 | 73,201,912.24 | 9.78 | | Fixed Assets | 1,177,721,013.16 | 924,409,460.92 | 253,311,552.24 | 27.40 | | Construction in Progress | 8,405,608.92 | 190,731,054.36 | -182,325,445.44 | -95.69 | | Short-term Borrowings | 260,000,000.00 | 225,206,800.00 | 34,793,200.00 | 15.45 | | Accounts Payable | 289,872,811.66 | 221,268,155.60 | 68,604,656.06 | 30.92 | | Total Liabilities | 903,718,407.43 | 822,914,654.33 | 80,803,753.10 | 9.82 | | Total Assets | 3,566,905,501.11 | 3,472,618,236.40 | 94,287,264.71 | 2.72 | Consolidated Income Statement In Q1 2025, the company achieved total operating revenue of RMB 674 million, a 26.80% year-over-year increase; net profit was RMB 28.37 million, up 16.36%; and net profit attributable to parent shareholders was RMB 28.03 million, a 26.55% increase Consolidated Income Statement Key Item Changes (Q1 2025 vs. Q1 2024) | Item | Q1 2025 (RMB) | Q1 2024 (RMB) | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 674,235,983.11 | 531,727,580.77 | 26.80 | | Total Operating Costs | 632,749,601.30 | 510,154,174.61 | 24.03 | | Operating Profit | 36,242,747.61 | 29,084,428.70 | 24.61 | | Total Profit | 37,263,283.48 | 29,486,576.16 | 26.37 | | Net Profit | 28,373,202.31 | 24,383,544.07 | 16.36 | | Net Profit Attributable to Parent Company Shareholders | 28,029,546.64 | 22,148,763.71 | 26.55 | | Minority Interest Income/Loss | 343,655.67 | 2,234,780.36 | -84.60 | | Basic Earnings Per Share (RMB/share) | 0.09 | 0.07 | 28.57 | Consolidated Cash Flow Statement In Q1 2025, net cash flow from operating activities was RMB 91.52 million, a 237.51% year-over-year increase; net cash outflow from investing activities was RMB 32.07 million, and net cash flow from financing activities was RMB 20.07 million, with cash and cash equivalents balance increasing to RMB 400 million at period-end Consolidated Cash Flow Statement Key Item Changes (Q1 2025 vs. Q1 2024) | Item | Q1 2025 (RMB) | Q1 2024 (RMB) | Period-over-Period Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 91,517,614.73 | 27,115,491.04 | 237.51 | | Net Cash Flow from Investing Activities | -32,074,714.23 | -39,115,731.66 | -18.00 | | Net Cash Flow from Financing Activities | 20,070,553.84 | 18,019,946.88 | 11.38 | | Net Increase in Cash and Cash Equivalents | 79,513,454.34 | 6,019,706.26 | 1220.80 | | Cash and Cash Equivalents at Period-End | 400,272,964.55 | 366,658,112.76 | 9.17 | Adjustments to Financial Statements at the Beginning of the First Year of Adopting New Accounting Standards or Interpretations from 2025 The company's first-time adoption of new accounting standards or interpretations from 2025 did not involve adjustments to the financial statements at the beginning of the first year of adoption - The company's first-time adoption of new accounting standards or interpretations from 2025 did not involve adjustments to the financial statements at the beginning of the first year of adoption[25]