国联证券(01456) - 2022 Q1 - 季度财报

Important Content Reminders The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions - Ge Xiaobo, the company's responsible person, Ge Xiaobo, the person in charge of accounting work, and Chen Zhiying, the head of the accounting department, guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[4] - The financial statements for this quarter are unaudited[5] Key Financial Data Key Accounting Data and Financial Indicators In Q1 2022, the company's operating revenue increased by 35.15% year-on-year, and net profit attributable to shareholders increased by 20.05% year-on-year; net cash flow from operating activities was a significant net outflow, while total assets and owners' equity attributable to shareholders both increased compared to the end of the previous year | Item | Current Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 636,002,769.33 | 35.15 | | Net Profit Attributable to Shareholders | 188,856,677.80 | 20.05 | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses | 185,450,433.08 | 21.20 | | Net Cash Flow from Operating Activities | –5,058,411,560.62 | N/A | | Basic Earnings Per Share (RMB/share) | 0.07 | – | | Diluted Earnings Per Share (RMB/share) | 0.07 | – | | Weighted Average Return on Net Assets (%) | 1.14 | decreased by 0.33 percentage points | | Item | End of Current Period (RMB) | End of Previous Year (RMB) | Change from End of Previous Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 72,371,982,469.17 | 65,939,237,816.69 | 9.76 | | Owners' Equity Attributable to Shareholders | 16,614,007,632.77 | 16,381,068,287.90 | 1.42 | Non-Recurring Gains and Losses and Amounts Total non-recurring gains and losses for the period amounted to RMB 3,406,244.72, primarily comprising government grants and disposal gains/losses on non-current assets; the company classifies fair value changes and investment income from certain financial instruments as recurring gains and losses | Item | Amount for Current Period (RMB) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 105,290.91 | | | Government Grants Included in Current Profit and Loss | 4,609,628.26 | | | Other Non-Operating Income and Expenses Excluding the Above | –173,259.54 | | | Less: Income Tax Impact | 1,135,414.91 | | | Total | 3,406,244.72 | | - The Group classifies fair value changes and related investment income from held-for-trading financial assets, financial liabilities, and derivative financial instruments as recurring profit and loss items[8] Changes and Reasons for Key Accounting Data and Financial Indicators Operating revenue growth was primarily driven by increased fair value change gains and fee income; the decrease in net cash flow from operating activities was due to a reduction in net cash inflow from repurchase transactions during the reporting period | Item Name | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue - Current Period | 35.15 | Increased fair value change gains and fee income in the current period | | Net Cash Flow from Operating Activities - Current Period | N/A | Decreased net cash inflow from repurchase transactions in the current period | Shareholder Information 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 86,738 common shareholders; among the top ten shareholders, Wuxi Guolian Development (Group) Co., Ltd. was the largest, holding 19.21% of shares - As of the end of the reporting period, the total number of common shareholders was 86,738, with no preferred shareholders with restored voting rights[10] | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Percentage (%) | Number of Restricted Shares | Share Status | Quantity | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wuxi Guolian Development (Group) Co., Ltd. | State-owned Legal Person | 543,901,329 | 19.21 | 543,901,329 | None | 0 | | HKSCC Nominees Limited | Overseas Legal Person | 442,491,790 | 15.63 | 0 | Unknown | 0 | | Guolian Trust Co., Ltd. | State-owned Legal Person | 390,137,552 | 13.78 | 390,137,552 | None | 0 | | Wuxi Guolian Local Power Co., Ltd. | State-owned Legal Person | 266,899,445 | 9.43 | 266,899,445 | None | 0 | | Wuxi Minsheng Investment Co., Ltd. | State-owned Legal Person | 73,500,000 | 2.60 | 73,500,000 | None | 0 | | Wuxi No. 1 Cotton Textile Group Co., Ltd. | State-owned Legal Person | 72,784,141 | 2.57 | 72,784,141 | None | 0 | | China Galaxy Securities Co., Ltd. | State-owned Legal Person | 50,907,777 | 1.80 | 50,900,177 | None | 0 | | Caitong Fund - Huatai Securities Co., Ltd. - Caitong Fund Junxiang Yongxi Single Asset Management Plan | Other | 35,650,624 | 1.26 | 35,650,624 | None | 0 | | Everbright Securities Co., Ltd. | State-owned Legal Person | 31,194,295 | 1.10 | 31,194,295 | None | 0 | | China International Capital Corporation Limited | State-owned Legal Person | 30,045,105 | 1.06 | 30,035,650 | None | 0 | Top 10 Shareholders with Unrestricted Shares HKSCC Nominees Limited holds the largest number of unrestricted circulating shares, totaling 442,491,790 shares, primarily owned by non-registered holders of the company's H-shares | Shareholder Name | Number of Unrestricted Circulating Shares Held | Type of Share | Type and Quantity of Shares | | :--- | :--- | :--- | :--- | | HKSCC Nominees Limited | 442,491,790 | Overseas Listed Foreign Shares | 442,491,790 | | Hong Kong Securities Clearing Company Limited | 16,421,386 | RMB Common Shares | 16,421,386 | | China Construction Bank Corporation - Cathay CSI All Share Securities Company ETF | 12,178,613 | RMB Common Shares | 12,178,613 | | Industrial Bank Co., Ltd. - Southern Financial Theme Flexible Allocation Mixed Securities Investment Fund | 11,445,961 | RMB Common Shares | 11,445,961 | | China Construction Bank Corporation - Huabao CSI All Share Securities Company ETF | 10,913,862 | RMB Common Shares | 10,913,862 | | Industrial and Commercial Bank of China Limited - Huaan Media Internet Mixed Securities Investment Fund | 10,523,801 | RMB Common Shares | 10,523,801 | | China Construction Bank Corporation - Huaan Shanghai-Hong Kong-Shenzhen Extended Growth Flexible Allocation Mixed Securities Investment Fund | 6,777,700 | RMB Common Shares | 6,777,700 | | Agricultural Bank of China Limited - Huaan Smart Life Mixed Securities Investment Fund | 6,388,970 | RMB Common Shares | 6,388,970 | | Fan Zhong | 6,151,800 | RMB Common Shares | 6,151,800 | | Wuxi Xinfa Group Co., Ltd. | 5,825,463 | RMB Common Shares | 5,825,463 | - Shares held by HKSCC Nominees Limited are owned by non-registered holders of the company's H-shares[14] - Shares held by Hong Kong Securities Clearing Company Limited are the company's A-shares held by Shanghai-Hong Kong Stock Connect investors[14] Explanation of Related Party Relationships or Concerted Actions Among the Above Shareholders The company's controlling shareholder, Wuxi Guolian Development (Group) Co., Ltd., directly and indirectly holds a total of 48.60% of the company's shares; no other related party relationships or concerted action arrangements are known - The company's controlling shareholder, Wuxi Guolian Development (Group) Co., Ltd., directly holds 19.21% of the company's shares and indirectly holds 29.40% through its controlled subsidiaries, totaling 48.60% of the company's shares[14] Explanation of Participation in Margin Trading, Securities Lending, and Refinancing by Top 10 Shareholders and Top 10 Unrestricted Shareholders (If Applicable) During the reporting period, the participation of the top 10 shareholders and top 10 unrestricted shareholders in margin trading, securities lending, and refinancing was not applicable - Participation of the top 10 shareholders and top 10 unrestricted shareholders in margin trading, securities lending, and refinancing is not applicable[14] Other Reminders - There is no other significant operating information requiring investor attention during this reporting period[8] Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[8] Financial Statements This section details the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2022, reflecting the financial position and operating results at the end of the reporting period Consolidated Balance Sheet | Item | March 31, 2022 (RMB) | December 31, 2021 (RMB) | | :--- | :--- | :--- | | Total Assets | 72,371,982,469.17 | 65,939,237,816.69 | | Total Liabilities | 55,757,974,836.40 | 49,558,169,528.79 | | Total Owners' Equity (or Shareholders' Equity) | 16,614,007,632.77 | 16,381,068,287.90 | | Total Liabilities and Owners' Equity (or Shareholders' Equity) | 72,371,982,469.17 | 65,939,237,816.69 | - As of March 31, 2022, consolidated total assets increased by 9.76% compared to the end of 2021, and consolidated total liabilities increased by 12.51%[6][16][17] Consolidated Income Statement | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 636,002,769.33 | 470,589,947.35 | | Net Interest Income | 72,019,366.29 | 54,534,088.16 | | Net Fee and Commission Income | 347,197,946.45 | 241,916,588.47 | | Investment Income (Losses indicated by "-") | –71,022,339.02 | 119,042,267.41 | | Gains from Fair Value Changes (Losses indicated by "-") | 283,900,638.58 | 49,882,279.99 | | Total Operating Expenses | 385,518,564.96 | 265,293,656.87 | | Operating Profit (Losses indicated by "-") | 250,484,204.37 | 205,296,290.48 | | Net Profit (Net Losses indicated by "-") | 188,856,677.80 | 157,311,074.79 | | Net Profit Attributable to Parent Company Shareholders | 188,856,677.80 | 157,311,074.79 | | Total Comprehensive Income | 127,848,851.93 | 152,785,866.30 | | Basic Earnings Per Share (RMB/share) | 0.07 | 0.07 | | Diluted Earnings Per Share (RMB/share) | 0.07 | 0.07 | - In Q1 2022, consolidated total operating revenue increased by 35.15% year-on-year, and consolidated net profit increased by 20.05% year-on-year[5][18][19] Consolidated Cash Flow Statement | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | –5,058,411,560.62 | –204,320,126.71 | | Net Cash Flow from Investing Activities | 2,892,526,172.80 | –525,482,362.88 | | Net Cash Flow from Financing Activities | 1,356,060,421.36 | –1,061,046,455.75 | | Net Increase in Cash and Cash Equivalents | –811,285,263.34 | –1,790,703,065.13 | | Cash and Cash Equivalents at End of Period | 12,514,199,336.17 | 13,870,199,795.59 | - Net cash flow from operating activities expanded from a net outflow of RMB 204 million in Q1 2021 to a net outflow of RMB 5.058 billion in Q1 2022[21] - Net cash flow from investing activities shifted from a net outflow of RMB 525 million in Q1 2021 to a net inflow of RMB 2.893 billion in Q1 2022[22] Parent Company Balance Sheet | Item | March 31, 2022 (RMB) | December 31, 2021 (RMB) | | :--- | :--- | :--- | | Total Assets | 70,966,254,641.05 | 64,623,124,663.83 | | Total Liabilities | 54,538,867,520.23 | 48,554,293,738.99 | | Total Owners' Equity (or Shareholders' Equity) | 16,427,387,120.82 | 16,068,830,924.84 | | Total Liabilities and Owners' Equity (or Shareholders' Equity) | 70,966,254,641.05 | 64,623,124,663.83 | - As of March 31, 2022, parent company total assets increased by 9.81% compared to the end of 2021, and parent company total liabilities increased by 12.33%[23][24] Parent Company Income Statement | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 607,785,529.82 | 339,793,770.03 | | Net Interest Income | 59,064,747.95 | 44,224,638.77 | | Net Fee and Commission Income | 185,253,460.25 | 168,508,661.73 | | Investment Income (Losses indicated by "-") | 61,757,822.36 | 82,281,004.76 | | Gains from Fair Value Changes (Losses indicated by "-") | 297,764,165.58 | 39,915,268.90 | | Total Operating Expenses | 242,818,779.36 | 187,654,139.64 | | Operating Profit (Losses indicated by "-") | 364,966,750.46 | 152,139,630.39 | | Net Profit (Net Losses indicated by "-") | 318,714,076.57 | 117,231,394.74 | | Total Comprehensive Income | 259,897,604.53 | 113,215,100.30 | - In Q1 2022, parent company total operating revenue increased by 78.89% year-on-year, and net profit increased by 171.87% year-on-year[25][26] Parent Company Cash Flow Statement | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | –4,794,295,467.22 | –146,701,667.78 | | Net Cash Flow from Investing Activities | 2,680,023,287.14 | –529,632,976.27 | | Net Cash Flow from Financing Activities | 1,361,091,693.78 | –1,059,206,623.01 | | Net Increase in Cash and Cash Equivalents | –753,289,106.05 | –1,735,395,947.84 | | Cash and Cash Equivalents at End of Period | 11,886,551,106.96 | 13,031,696,081.66 | - Parent company net cash flow from operating activities expanded from a net outflow of RMB 147 million in Q1 2021 to a net outflow of RMB 4.794 billion in Q1 2022[27] - Parent company net cash flow from investing activities shifted from a net outflow of RMB 530 million in Q1 2021 to a net inflow of RMB 2.680 billion in Q1 2022[28] First-Time Adoption of New Accounting Standards from 2022 and Adjustments to Financial Statements at the Beginning of the First Adoption Year - The first-time adoption of new accounting standards and adjustments to the financial statements at the beginning of the first adoption year are not applicable for this reporting period[29] By Order of the Board - The company's executive director is Mr. Ge Xiaobo; non-executive directors are Mr. Hua Weirong, Mr. Zhou Weiping, Mr. Liu Hailin, and Mr. Zhang Weigang; independent non-executive directors are Mr. Lu Yuanzhu, Mr. Wu Xingyu, and Mr. Zhu Hehua[29]