英维克(002837) - 2025 Q3 - 季度财报

Main Financial Data This section details the company's financial performance, key indicators, and changes in financial statements Key Accounting Data and Financial Indicators The company achieved significant revenue growth during the reporting period, but net profit attributable to shareholders grew slower, and net cash flow from operating activities turned negative, indicating capital pressure from business expansion; total assets and shareholder equity showed steady growth Overview of Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (Q3) | YoY Change (Q3) | Year-to-Date (YTD) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 1,452,891,317.45 | 25.34% | 4,026,030,778.35 | 40.19% | | Net Profit Attributable to Listed Company Shareholders (Yuan) | 183,429,234.55 | 8.35% | 399,069,661.11 | 13.13% | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses (Yuan) | 181,317,017.33 | 11.29% | 383,536,652.02 | 14.76% | | Net Cash Flow from Operating Activities (Yuan) | — | — | -319,034,472.29 | -304.20% | | Basic Earnings Per Share (Yuan/share) | 0.19 | 5.56% | 0.41 | 10.81% | | Diluted Earnings Per Share (Yuan/share) | 0.19 | 5.56% | 0.41 | 10.81% | | Weighted Average Return on Net Assets | 5.89% | -0.44% | 12.97% | -0.42% | | Balance Sheet (Period-end): | | | | | | Total Assets (Yuan) | 7,210,891,358.49 | 19.89% (vs. prior year-end) | | | | Owners' Equity Attributable to Listed Company Shareholders (Yuan) | 3,313,055,700.50 | 13.62% (vs. prior year-end) | | | - Share-based payment expenses from the beginning of the year to the end of the reporting period were 12.17 million Yuan, impacting net profit attributable to shareholders by 10.34 million Yuan[5] Non-recurring Gains and Losses Items and Amounts The company's non-recurring gains and losses totaled 15.53 million Yuan from the beginning of the year to the end of the reporting period, primarily from government subsidies, non-operating income, and fair value changes in financial assets, while non-current asset disposal losses were negative Non-recurring Gains and Losses Items and Amounts | Item | Amount for Current Reporting Period (Yuan) | Amount from Year-to-Date (Yuan) | Explanation | | :--- | :--- | :--- | :--- | | Non-current asset disposal gains and losses | -30,222.17 | 64,189.88 | | | Government subsidies recognized in current profit/loss | 1,686,571.59 | 11,611,268.60 | Primarily due to government subsidies received | | Gains/losses from changes in fair value and disposal of financial assets and liabilities | 134,166.67 | 468,581.73 | | | Other non-operating income and expenses | 750,519.69 | 5,976,850.25 | | | Other gains and losses defined as non-recurring | 1,636.25 | 894,745.86 | | | Less: Income tax impact | 424,190.10 | 3,289,072.81 | | | Minority interest impact (after tax) | 6,264.71 | 193,554.42 | | | Total | 2,112,217.22 | 15,533,009.09 | -- | - The company does not classify non-recurring gains and losses as recurring items[8] Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, several items in the company's balance sheet, income statement, and cash flow statement showed significant changes, reflecting business expansion, increased investment, active financing, and rising costs and expenses Changes in Consolidated Balance Sheet Items On the asset side, notes receivable, prepayments, inventories, contract assets, construction in progress, right-of-use assets, and deferred income tax assets all significantly increased, reflecting higher business volume, project investments, and lease expansion; on the liability side, short-term borrowings, taxes payable, non-current liabilities due within one year, and long-term borrowings substantially increased, indicating strong financing demand Major Changes in Consolidated Balance Sheet Items (Period-end vs. Prior Year-end) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Notes Receivable | 197.62% | Commercial acceptance bills not yet due for collection | | Prepayments | 63.44% | Increase in prepaid material costs | | Inventories | 39.32% | Increase in goods shipped but not yet accepted for projects and contract performance costs | | Contract Assets | 60.97% | Increase in final acceptance payments and quality assurance deposits not yet due | | Construction in Progress | 62.86% | Increased investment in the construction of the Central Plains Headquarters Base | | Right-of-Use Assets | 104.49% | Renewal of factory leases and new leased premises | | Deferred Income Tax Assets | 116.73% | Increase in deductible temporary differences due to tax losses carried forward | | Short-term Borrowings | 157.05% | Increase in short-term bank loans | | Taxes Payable | 304.27% | Individual income tax from equity incentive exercise not yet paid | | Non-current Liabilities Due Within One Year | 229.47% | Increase in bank borrowings and lease payments due within one year | | Long-term Borrowings | 53.01% | Increase in bank credit borrowings and special loans for fixed assets | | Lease Liabilities | 147.70% | Renewal of factory leases and new leased premises | | Share Capital | 31.19% | Capital reserve capitalization and stock option exercise | | Minority Interests | 523.58% | Increased profitability of non-wholly owned subsidiaries | Changes in Consolidated Income Statement Items (Year-to-Date) The company's operating revenue and cost of sales both significantly increased, primarily due to higher income from data center and cabinet temperature control energy-saving products; selling and R&D expenses also rose with business expansion and personnel compensation growth; finance expenses substantially increased due to reduced exchange gains, while credit impairment losses and asset impairment losses significantly rose, reflecting increased provisions for doubtful accounts and inventory obsolescence Major Changes in Consolidated Income Statement Items (Year-to-Date) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 40.19% | Increase in revenue from data center and cabinet temperature control energy-saving products | | Cost of Sales | 43.85% | Operating revenue increased, and cost of sales increased accordingly | | Selling Expenses | 38.66% | Increase in sales personnel and their compensation, market expansion, and travel expenses | | Research and Development Expenses | 31.36% | Increase in R&D personnel and their compensation, and R&D material consumption | | Finance Expenses | 675.79% | Decrease in exchange gains | | Other Income | -32.61% | Decrease in VAT immediate refund | | Credit Impairment Losses | -798.37% | Increase in bad debt provisions for accounts receivable and notes receivable financing | | Asset Impairment Losses | -140.45% | Increase in inventory obsolescence provisions | Changes in Consolidated Cash Flow Statement Items (Year-to-Date) Net cash flow from operating activities turned negative, primarily due to significant increases in payments for goods, services, and employee compensation; net cash flow from financing activities grew substantially, driven by increased net cash inflows from bank borrowings, leading to a positive net increase in cash and cash equivalents Major Changes in Consolidated Cash Flow Statement Items (Year-to-Date) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -304.20% | Increase in payments for goods, services, and employee compensation | | Net Cash Flow from Financing Activities | 2,530.37% | Increase in net cash inflow from bank borrowings | | Net Increase in Cash and Cash Equivalents | 233.28% | Increase in net cash flow from financing activities | Shareholder Information This section provides an overview of the company's common shareholders, including the total count and top ten holders Total Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 164,255 common shareholders; among the top ten shareholders, Shenzhen Envicool Investment Co., Ltd. is the controlling shareholder with a 25.09% stake, with a portion of its shares pledged; several individual shareholders hold significant stakes, with Qi Yong identified as the actual controller and having related party relationships with other shareholders - Total common shareholders at the end of the reporting period: 164,255[14] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Envicool Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 25.09% | 245,019,503 | 0 | Pledged: 26,419,393 | | Qi Yong | Domestic Natural Person | 5.64% | 55,120,891 | 41,340,667 | Pledged: 4,514,640 | | HKSCC Nominees Limited | Overseas Legal Person | 3.79% | 37,059,970 | 0 | Not applicable | | Wei Lichuan | Domestic Natural Person | 2.78% | 27,141,491 | 20,356,118 | Not applicable | | Liu Jun | Domestic Natural Person | 2.14% | 20,900,125 | 20,900,125 | Not applicable | | Wang Tiewang | Domestic Natural Person | 1.93% | 18,855,122 | 14,141,341 | Not applicable | | Zhou Wei | Domestic Natural Person | 1.79% | 17,500,000 | 0 | Not applicable | | You Guobo | Domestic Natural Person | 1.69% | 16,523,525 | 12,392,644 | Not applicable | | Jiangsu Bank Co., Ltd. - AVIC Opportunity Leading Mixed Initiated Securities Investment Fund | Other | 1.65% | 16,126,737 | 0 | Not applicable | | Chen Chuan | Domestic Natural Person | 1.56% | 15,254,080 | 11,440,560 | Not applicable | - Qi Yong is the actual controller of Shenzhen Envicool Investment Co., Ltd.; Qi Yong, Wei Lichuan, Liu Jun, and You Guobo are also shareholders of Shenzhen Envicool Investment Co., Ltd[15] - The company's controlling shareholder, Shenzhen Envicool Investment Co., Ltd., holds a total of 245,019,503 shares through ordinary securities accounts and margin trading and securities lending accounts[15] Total Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[16] Other Significant Matters On September 11, 2025, the company completed the re-election of its fifth board of directors, including the appointment of non-independent directors, independent directors, and employee representative directors, and hired senior management personnel - On September 11, 2025, the company held a general meeting of shareholders to complete the re-election of the fifth board of directors and appoint senior management personnel[17] Quarterly Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement for the quarter Consolidated Balance Sheet As of September 30, 2025, the company's total assets reached 7.21 billion Yuan, a 19.89% increase from the beginning of the period; both current and non-current assets grew, with significant increases in monetary funds, notes receivable, inventories, contract assets, construction in progress, and right-of-use assets; on the liability side, short-term borrowings, long-term borrowings, and lease liabilities substantially increased, reflecting business expansion and financing needs Key Data from Consolidated Balance Sheet (As of September 30, 2025) | Item | Period-end Balance (Yuan) | Beginning-of-period Balance (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 808,048,269.88 | 728,186,242.96 | | Notes Receivable | 129,715,971.03 | 43,584,576.46 | | Inventories | 1,232,103,430.49 | 884,357,243.24 | | Contract Assets | 210,286,726.03 | 130,634,753.31 | | Construction in Progress | 267,493,759.39 | 164,244,648.99 | | Right-of-Use Assets | 94,215,621.08 | 46,072,731.32 | | Deferred Income Tax Assets | 159,393,434.90 | 73,544,505.07 | | Short-term Borrowings | 802,000,000.00 | 312,000,000.00 | | Contract Liabilities | 326,496,891.72 | 229,326,812.37 | | Taxes Payable | 189,026,677.50 | 46,757,435.01 | | Non-current Liabilities Due Within One Year | 99,402,366.03 | 30,170,361.43 | | Long-term Borrowings | 446,282,250.80 | 291,677,069.98 | | Lease Liabilities | 59,682,922.24 | 24,094,424.13 | | Share Capital | 976,555,867.00 | 744,358,659.00 | | Minority Interests | 10,906,124.94 | -2,574,739.16 | Consolidated Income Statement Year-to-Date As of the end of the reporting period, the company's total operating revenue reached 4.03 billion Yuan, a 40.19% year-over-year increase; both operating profit and net profit grew, while income tax expenses decreased; minority interest income turned from loss to profit, indicating improved profitability of non-wholly owned subsidiaries Key Data from Consolidated Income Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 4,026,030,778.35 | 2,871,742,557.75 | | Total Operating Costs | 3,571,860,559.23 | 2,518,205,367.71 | | Operating Profit | 437,938,359.53 | 388,843,307.09 | | Total Profit | 443,915,209.78 | 393,785,892.21 | | Income Tax Expense | 30,264,684.57 | 41,930,486.20 | | Net Profit | 413,650,525.21 | 351,855,406.01 | | Net Profit Attributable to Parent Company Shareholders | 399,069,661.11 | 352,755,913.70 | | Minority Interest Income/Loss | 14,580,864.10 | -900,507.69 | | Total Comprehensive Income | 413,249,798.76 | 351,740,564.08 | | Basic Earnings Per Share (Yuan/share) | 0.41 | 0.37 | | Diluted Earnings Per Share (Yuan/share) | 0.41 | 0.37 | Consolidated Cash Flow Statement Year-to-Date As of the end of the reporting period, net cash flow from operating activities was -319.03 million Yuan, a significant decrease from the prior period, mainly due to increased payments for goods, services, and employee compensation; net cash flow from investing activities was -240 million Yuan, largely consistent with the prior period; net cash flow from financing activities substantially increased to 742.28 million Yuan, primarily due to increased borrowings, leading to a positive net increase in cash and cash equivalents Key Data from Consolidated Cash Flow Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -319,034,472.29 | 156,233,696.34 | | Net Cash Flow from Investing Activities | -239,670,177.10 | -247,709,045.00 | | Net Cash Flow from Financing Activities | 742,277,270.35 | -30,541,681.23 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -17,327,564.99 | -2,717,157.28 | | Net Increase in Cash and Cash Equivalents | 166,245,055.97 | -124,734,187.17 | | Cash and Cash Equivalents at End of Period | 721,855,693.86 | 690,274,883.53 | Adjustments for First-time Adoption of New Accounting Standards from 2025 The company did not adjust relevant items in its opening financial statements for the current year due to the first-time adoption of new accounting standards - The company did not adjust relevant items in its opening financial statements for the current year due to the first-time adoption of new accounting standards[28] Audit Report This quarterly financial accounting report is unaudited - The company's third-quarter financial accounting report is unaudited[28]