古鳌科技(300551) - 2024 Q1 - 季度财报(更新)

Major Financial Data Major Accounting Data and Financial Indicators In Q1 2024, operating revenue significantly declined by 49.93% year-over-year, net profit attributable to shareholders widened by 174.74%, and net cash flow from operating activities narrowed its loss by 54.19% Q1 2024 Major Financial Data Comparison | Metric | Current Period (CNY) | Prior Year Period (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 70,169,269.47 | 140,135,007.41 | -49.93% | | Net Profit Attributable to Shareholders of Listed Company | -41,505,418.10 | -15,107,316.73 | -174.74% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | -41,673,116.59 | -15,823,481.25 | -163.36% | | Net Cash Flow from Operating Activities | -26,003,936.20 | -56,759,742.93 | 54.19% | | Basic Earnings Per Share | -0.12 | -0.04 | -200.00% | | Diluted Earnings Per Share | -0.12 | -0.04 | -200.00% | | Weighted Average Return on Net Assets | -4.55% | -1.42% | -3.13% | | Period-End Metrics | As of Mar 31, 2024 (CNY) | As of Dec 31, 2023 (CNY) | Change from Year-End (%) | | Total Assets | 1,408,206,507.68 | 1,520,893,913.77 | -7.41% | | Total Equity Attributable to Shareholders of Listed Company | 891,568,128.22 | 933,073,658.47 | -4.45% | Non-Recurring Gains and Losses and Amounts Total non-recurring gains and losses for the period amounted to 167.70 thousand CNY, primarily from disposal of non-current assets and government grants, contributing slightly positively to net profit after tax and minority interests Q1 2024 Non-Recurring Gains and Losses Items | Item | Current Period Amount (CNY) | Description | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 166,192.01 | Gains from disposal of long-term assets | | Government Grants Recognized in Current P&L | 189,941.83 | Government grants | | Other Non-Operating Income and Expenses | -5,140.40 | Other non-operating income/expenses | | Less: Income Tax Impact | 80,594.65 | | | Minority Interests Impact (After Tax) | 102,700.30 | | | Total | 167,698.49 | | Changes and Reasons for Major Accounting Data and Financial Indicators Multiple financial indicators changed due to the ongoing supervisory measures on subsidiary Donggao Technology, impacting revenue, costs, and expenses, while investment income decreased and credit impairment losses improved - Subsidiary Donggao Technology's operating revenue, operating costs, selling expenses, and administrative expenses significantly decreased year-over-year due to ongoing supervisory measures suspending new client acquisition[8] Major Financial Indicator Changes and Reasons | Item | Change from Prior Year-End/Period (%) | Reason for Change | | :--- | :--- | :--- | | Other Current Assets | -33.56% | Subsidiary Donggao Technology's supervisory measures continued, reducing contract-related costs and expenses in the reporting period | | Short-Term Borrowings | 200.00% | Primarily due to new letter of credit settlements in the reporting period | | Notes Payable | -73.89% | Primarily due to repayment of matured notes in the reporting period | | Accounts Payable | -33.59% | Subsidiary Donggao Technology's supervisory measures continued, reducing outsourced services in the reporting period | | Taxes Payable | 34.54% | Primarily due to increased taxes payable by the subsidiary at the end of the reporting period | | Operating Revenue | -49.93% | Subsidiary Donggao Technology's supervisory measures continued, impacting reporting period revenue | | Operating Cost | -34.08% | Subsidiary Donggao Technology's supervisory measures continued, controlling costs and expenses in the reporting period | | Selling Expenses | -43.22% | Subsidiary Donggao Technology's supervisory measures continued, controlling costs and expenses in the reporting period | | Administrative Expenses | -29.84% | Subsidiary Donggao Technology's supervisory measures continued, controlling costs and expenses in the reporting period | | Investment Income (Losses indicated by "-") | -7628.82% | Primarily due to recognition of investment gains/losses from investment in Xincun Technology | | Credit Impairment Losses (Losses indicated by "-") | -460.79% | Primarily due to the recovery of accounts receivable and long-aged quality assurance funds impacting credit impairment provisions in the reporting period | | Net Cash Flow from Operating Activities | 54.19% | Primarily due to reduced personnel salaries and cost expenditures at subsidiary Donggao Technology in the reporting period | | Net Cash Flow from Investing Activities | 129.66% | Primarily due to reduced cash expenditures for constructing long-term assets in the reporting period | | Net Cash Flow from Financing Activities | 128.50% | Primarily due to new letter of credit settlements in the reporting period | Shareholder Information Total Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the reporting period end, the company had 16,010 common shareholders, with controlling shareholder Chen Chongjun holding the largest stake at 22.72%, mostly pledged Total Common Shareholders and Top 10 Shareholders' Holdings at Period End | Metric | Quantity | | :--- | :--- | | Total Common Shareholders at Period End | 16,010 | | Total Preferred Shareholders with Restored Voting Rights at Period End (if any) | 0 | | Top 10 Shareholders' Holdings | | | Shareholder Name | Shareholder Nature | Shareholding Percentage (%) | Number of Shares Held | Number of Restricted Shares Held | Pledged, Marked, or Frozen Status (Share Status/Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | Chen Chongjun | Domestic Natural Person | 22.72% | 78,550,607.00 | 43,787,639.00 | Pledged / 61,170,000.00 shares | | China Bank Co., Ltd. - Penghua High-Quality Growth Mixed Securities Investment Fund | Other | 1.76% | 6,090,700.00 | 0.00 | N/A / 0.00 | | Zheng Zhixian | Domestic Natural Person | 1.74% | 6,015,143.00 | 0.00 | N/A / 0.00 | | Hunan Fuchuan Private Investment Fund Management Co., Ltd. - Fuchuan Houxing No. 1 Private Securities Investment Fund | Other | 1.42% | 4,895,600.00 | 0.00 | N/A / 0.00 | | Li Jianpeng | Domestic Natural Person | 1.24% | 4,272,600.00 | 0.00 | N/A / 0.00 | | Pan Haiyan | Domestic Natural Person | 1.04% | 3,595,000.00 | 0.00 | N/A / 0.00 | | Long Lifeng | Domestic Natural Person | 1.04% | 3,587,000.00 | 0.00 | N/A / 0.00 | | Xu Rugen | Domestic Natural Person | 0.92% | 3,192,400.00 | 0.00 | N/A / 0.00 | | Penghua Fund - Guoxin Investment Co., Ltd. - Penghua Fund - Guoxin No. 7 (Small and Mid-Cap Group) Single Asset Management Plan | Other | 0.89% | 3,075,500.00 | 0.00 | N/A / 0.00 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.86% | 2,958,173.00 | 0.00 | N/A / 0.00 | - The company is unaware if these shareholders have any related party relationships or are acting in concert as defined by the "Measures for the Administration of the Takeover of Listed Companies"[11] Total Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[12] Changes in Restricted Shares At period-end, total restricted shares were 44,777,620, a slight increase from the beginning of the period, mainly from the controlling shareholder's non-public issuance and senior management holdings Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Released in Current Period | Restricted Shares Increased in Current Period | Restricted Shares at End of Period | Reason for Restriction | Proposed Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hou Yaoqi | 119,602.00 | 0.00 | 49,950.00 | 169,552.00 | Restricted Shares of Senior Management | During tenure as director, supervisor, or senior executive, 25% of total shares held are unlocked annually, with the remaining 75% automatically locked | | Jiang Xiaodan | 546,750.00 | 0.00 | 0.00 | 546,750.00 | Restricted Shares of Senior Management | During tenure as director, supervisor, or senior executive, 25% of total shares held are unlocked annually, with the remaining 75% automatically locked | | Zhang Xiangyu | 273,679.00 | 0.00 | 0.00 | 273,679.00 | Restricted Shares of Senior Management | During tenure as director, supervisor, or senior executive, 25% of total shares held are unlocked annually, with the remaining 75% automatically locked | | Chen Chongjun | 43,787,639.00 | 0.00 | 0.00 | 43,787,639.00 | Non-Public Issuance Shares | March 8, 2025 | | Total | 44,727,670.00 | 0.00 | 49,950.00 | 44,777,620.00 | | | Other Significant Matters Company's Equity Investment in Changzhou Bita Technology Co., Ltd. The company terminated its equity acquisition of Changzhou Bita Technology, reaching a settlement and recovering an 18 million CNY deposit on March 22, 2024 - The company has terminated its acquisition of Changzhou Bita Technology Co., Ltd. equity[14] - On March 22, 2024, the company recovered the 18 million CNY deposit it had paid[14] Progress on Sale of Shanghai Zhiyu The company has not yet received the remaining 49% of the equity transfer payment for the 20.41% stake in Shanghai Zhiyu sold in 2021 - The company has not yet received the remaining 49% of the equity transfer payment for the 20.41% stake in Shanghai Zhiyu it sold[15] Pledge and Freezing of Shares of Controlling Shareholder and Actual Controller Controlling shareholder Chen Chongjun has 85.51% of his shares pledged and 0.12% frozen, facing potential passive reduction due to criminal detention, though company operations remain unaffected - Controlling shareholder Mr. Chen Chongjun has cumulatively pledged 67.17 million shares, accounting for 85.51% of his total company holdings[16] - Controlling shareholder Mr. Chen Chongjun has cumulatively had 92,968 shares judicially frozen, representing 0.12% of his total company holdings[16] - Mr. Chen Chongjun was criminally detained by the Qingdao Public Security Bureau on suspicion of manipulating the securities market[17] - Mr. Chen Chongjun does not serve as a director, supervisor, or senior executive of the company, and his detention will not significantly impact the company's daily operations[17] - If the frozen shares are forcibly executed by the court, it may lead to subsequent passive reduction of Mr. Chen Chongjun's holdings[16] Quarterly Financial Statements Financial Statements This section presents the company's Q1 2024 consolidated balance sheet, income statement, and cash flow statement, detailing financial position, operating results, and cash flows - Consolidated balance sheet, income statement, and cash flow statement are provided[19][23][25] Consolidated Balance Sheet As of March 31, 2024, total assets were 1.41 billion CNY, a 7.41% decrease from year-end, with total current assets at 747.73 million CNY and total non-current assets at 660.47 million CNY Consolidated Balance Sheet Key Data (As of March 31, 2024) | Item | Period-End Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 307,285,686.91 | 327,154,009.88 | | Financial Assets Held for Trading | 49,897,834.55 | 49,897,834.55 | | Accounts Receivable | 110,223,206.98 | 131,641,066.94 | | Inventories | 147,792,054.33 | 145,658,900.89 | | Other Current Assets | 44,850,960.93 | 67,508,924.61 | | Total Current Assets | 747,734,758.55 | 826,059,262.77 | | Long-Term Equity Investments | 273,436,378.29 | 292,871,701.01 | | Fixed Assets | 66,622,274.92 | 70,848,233.58 | | Goodwill | 148,734,356.54 | 148,734,356.54 | | Total Non-Current Assets | 660,471,749.13 | 694,834,651.00 | | Total Assets | 1,408,206,507.68 | 1,520,893,913.77 | | Short-Term Borrowings | 15,000,000.00 | 5,000,000.00 | | Contract Liabilities | 111,853,495.41 | 156,278,117.56 | | Total Current Liabilities | 346,736,713.43 | 423,091,184.02 | | Total Liabilities | 458,078,476.44 | 536,721,586.12 | | Total Equity Attributable to Parent Company Owners | 891,568,128.22 | 933,073,658.47 | | Total Equity | 950,128,031.24 | 984,172,327.65 | Consolidated Income Statement In Q1 2024, total operating revenue was 70.17 million CNY, a 49.93% YoY decrease, with significant operating and total profit losses, and net profit attributable to parent company owners at -41.51 million CNY Consolidated Income Statement Key Data (Q1 2024) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 70,169,269.47 | 140,135,007.41 | | Total Operating Costs | 94,759,097.66 | 152,479,592.92 | | Operating Cost | 16,573,537.40 | 25,143,088.82 | | Selling Expenses | 51,502,819.48 | 90,703,676.40 | | Administrative Expenses | 16,786,679.59 | 23,926,300.66 | | Research and Development Expenses | 9,941,946.40 | 11,922,900.28 | | Investment Income (Losses indicated by "-") | -31,435,322.02 | 417,532.95 | | Credit Impairment Losses (Losses indicated by "-") | 7,152,593.31 | -1,982,456.49 | | Operating Profit (Losses indicated by "-") | -48,612,788.86 | -14,303,883.49 | | Total Profit (Losses indicated by "-") | -48,614,766.66 | -14,442,551.19 | | Net Profit (Net Loss indicated by "-") | -47,058,177.66 | -14,346,034.86 | | Net Profit Attributable to Parent Company Owners | -41,505,418.10 | -15,107,316.73 | | Basic Earnings Per Share | -0.12 | -0.04 | | Diluted Earnings Per Share | -0.12 | -0.04 | Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities was -26.00 million CNY, a 54.19% narrower loss YoY, while net cash flows from investing and financing activities turned positive Consolidated Cash Flow Statement Key Data (Q1 2024) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -26,003,936.20 | -56,759,742.93 | | Net Cash Flow from Investing Activities | 6,477,623.79 | -21,837,589.95 | | Net Cash Flow from Financing Activities | 1,810,737.82 | -6,352,426.51 | | Net Increase in Cash and Cash Equivalents | -17,739,948.36 | -85,444,080.77 | | Cash and Cash Equivalents at End of Period | 298,817,766.19 | 562,497,897.31 | - Subtotal cash inflow from operating activities was 66.80 million CNY, with subtotal outflow at 92.81 million CNY[26] - Cash inflow from investing activities primarily stemmed from 18 million CNY received from investment recovery, while outflow was mainly 12 million CNY for investments paid[26] - Cash inflow from financing activities mainly originated from capital contributions and borrowings, with outflow primarily for other financing-related payments[27] Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards from 2024 The company's Q1 2024 report does not involve adjustments to initial financial statement items due to the first-time adoption of new accounting standards - The company has no adjustments to initial financial statement items due to the first-time adoption of new accounting standards from 2024[28] Audit Report The company's Q1 2024 report is unaudited - The company's first-quarter report is unaudited[28]