建发股份(600153) - 2019 Q3 - 季度财报

Item I. Important Notice The company provides a statement regarding the accuracy and completeness of this quarterly report 1.1-1.4 Company Statement The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, disclaiming any false statements, misleading representations, or material omissions, and assume legal responsibility; this quarterly report is unaudited - The company's management guarantees the report content's truthfulness, accuracy, and completeness, assuming corresponding legal responsibilities[3] - This company's Q3 2019 report is unaudited[3] Item II. Company Overview This section provides an overview of the company's key financial performance and shareholder structure as of the reporting period end 2.1 Key Financial Data As of the end of Q3 2019, the company's total assets increased by 36.62% from the end of the previous year, with Q1-Q3 revenue at 210.36 billion CNY and net profit attributable to shareholders at 1.82 billion CNY 2019 Q1-Q3 Key Financial Data | Indicator | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 210,357,718,883.51 | 183,263,437,293.11 | 14.78% | | Net Profit Attributable to Shareholders | 1,824,994,690.69 | 1,717,781,723.78 | 6.24% | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | -13,164,119,623.39 | N/A | | Basic Earnings Per Share (CNY/share) | 0.64 | 0.61 | 4.92% | | Weighted Average Return on Net Assets (%) | 6.46% | 7.06% | Decrease of 0.6 percentage points | | Indicator | September 30, 2019 (CNY) | December 31, 2018 (CNY) | Change from Year-End (%) | | Total Assets | 297,079,090,945.52 | 217,453,940,226.69 | 36.62% | | Net Assets Attributable to Shareholders | 27,978,403,613.13 | 27,555,574,865.30 | 1.53% | 2019 Q1-Q3 Non-Recurring Gains and Losses | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 156,504,523.17 | Primarily gains from subsidiary C&D Real Estate's exit from Shenzhen Longhu Mountain Villa project | | Government Grants | 128,021,263.91 | - | | Funds Occupancy Fees from Non-Financial Enterprises | 170,030,199.28 | Funds occupancy fees collected by subsidiary C&D Real Estate from joint development project associates | | Total | 391,930,134.95 | - | 2.2 Total Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders at Period-End As of the end of the reporting period, the company had 85,635 shareholders, with Xiamen C&D Group Co., Ltd. as the largest shareholder holding 45.89% - As of the end of the reporting period, the company had 85,635 shareholders[7] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | | :--- | :--- | :--- | | Xiamen C&D Group Co., Ltd. | 1,301,203,376 | 45.89 | | Hong Kong Securities Clearing Company Limited | 166,139,678 | 5.86 | | China Pacific Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Products | 96,829,804 | 3.42 | | China Securities Finance Corporation Limited | 84,868,979 | 2.99 | | China Pacific Life Insurance Co., Ltd. - Dividend - Individual Dividend | 66,384,907 | 2.34 | 2.3 Total Preferred Shareholders, Top Ten Preferred Shareholders, and Top Ten Unrestricted Preferred Shareholders at Period-End The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders at the end of the reporting period[9] Item III. Significant Matters This section details significant changes in the company's financial statement items and other important matters during the reporting period 3.1 Significant Changes and Reasons for Key Financial Statement Items and Indicators During the reporting period, several financial statement items experienced significant changes, primarily driven by business expansion, increased financing, and improved cash flow from operations Major Balance Sheet Item Changes (Compared to Year-End) | Account | Change (%) | Reason | | :--- | :--- | :--- | | Prepayments | 138.97% | Supply chain business prepayments for procurement and real estate land transfer fees increased | | Inventories | 39.84% | New real estate development projects and expanded supply chain inventory increased | | Other Current Assets | 118.82% | Deductible input VAT, wealth management product balances, and prepaid taxes increased | | Short-term Borrowings | 165.24% | Financing scale for supply chain business increased | | Contract Liabilities (formerly Advances from Customers) | 96.70% | Pre-sale receipts from real estate business and advance receipts for supply chain goods increased | | Non-current Liabilities Due Within One Year | 146.88% | Borrowings, bonds, and ABS projects maturing within one year increased | Major Income Statement Item Changes (Year-on-Year) | Account | Change (%) | Reason | | :--- | :--- | :--- | | Interest Income | 75.03% | Interest income from structured deposits increased | | Other Income | 123.35% | Government grants received increased | | Non-operating Income | 229.38% | Compensation and liquidated damages received increased | Major Cash Flow Statement Item Changes (Year-on-Year) | Account | 2019 Q1-Q3 (CNY) | Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | Faster sales collection in supply chain business and increased pre-sale receipts in real estate business, leading to a narrower net outflow year-on-year | | Net Cash Flow from Investing Activities | -2,212,434,973.67 | Last year, subsidiary C&D Real Estate redeemed large wealth management products; similar activities decreased this period | | Net Cash Flow from Financing Activities | 13,695,684,753.78 | Decrease in supply chain business financing scale and increase in real estate business debt repayment, leading to a year-on-year decrease in net inflow | 3.2-3.4 Other Significant Matters The company has no significant matters to disclose, no overdue unfulfilled commitments, and no forecast of significant changes in cumulative net profit for the next reporting period - During the reporting period, the company had no significant matters requiring disclosure, no overdue unfulfilled commitments, or earnings warnings[14] Item IV. Appendix This section provides the unaudited financial statements and explanations for accounting standard changes 4.1 Financial Statements This section presents the unaudited consolidated and parent company financial statements as of September 30, 2019, including the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of September 30, 2019, the company's total assets reached 297.08 billion CNY, a 36.6% increase from the beginning of the year, with total liabilities at 243.20 billion CNY and equity attributable to parent company owners at 27.98 billion CNY Consolidated Balance Sheet Summary (September 30, 2019) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 297,079,090,945.52 | | Total Liabilities | 243,203,206,052.93 | | Total Equity Attributable to Parent Company Owners | 27,978,403,613.13 | | Non-controlling Interests | 25,897,481,279.46 | | Total Owners' Equity | 53,875,884,892.59 | Parent Company Balance Sheet As of September 30, 2019, the parent company's total assets were 22.67 billion CNY, total liabilities were 13.29 billion CNY, and total owners' equity was 9.38 billion CNY Parent Company Balance Sheet Summary (September 30, 2019) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 22,667,490,915.90 | | Total Liabilities | 13,291,741,726.91 | | Total Owners' Equity | 9,375,749,188.99 | Consolidated Income Statement For Q1-Q3 2019, the company achieved total operating revenue of 210.36 billion CNY, a 14.8% year-on-year increase, with net profit attributable to parent company shareholders at 1.82 billion CNY, up 6.2% Consolidated Income Statement Summary (2019 Q1-Q3) | Item | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 210,357,718,883.51 | 183,263,437,293.11 | | Operating Profit | 3,162,922,032.92 | 3,110,092,386.06 | | Total Profit | 3,224,874,205.95 | 3,102,694,992.61 | | Net Profit | 2,377,135,033.43 | 2,282,085,485.12 | | Net Profit Attributable to Parent Company Shareholders | 1,824,994,690.69 | 1,717,781,723.78 | | Basic Earnings Per Share (CNY/share) | 0.64 | 0.61 | Parent Company Income Statement For Q1-Q3 2019, the parent company reported operating revenue of 1.13 billion CNY and net profit of 1.18 billion CNY, primarily driven by investment income of 1.07 billion CNY Parent Company Income Statement Summary (2019 Q1-Q3) | Item | 2019 Q1-Q3 (CNY) | 2018 Q1-Q3 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 1,130,621,323.90 | 1,509,766,396.65 | | Operating Profit | 1,211,421,075.51 | 800,357,167.18 | | Investment Income | 1,070,592,502.52 | 876,515,605.38 | | Net Profit | 1,178,556,894.57 | 860,539,182.16 | Consolidated Cash Flow Statement For Q1-Q3 2019, net cash flow from operating activities was -9.20 billion CNY, an improvement from -13.16 billion CNY in the prior year, with net cash outflow from investing activities at 2.21 billion CNY and net cash inflow from financing activities at 13.70 billion CNY Consolidated Cash Flow Statement Summary (2019 Q1-Q3) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -9,202,584,905.84 | | Net Cash Flow from Investing Activities | -2,212,434,973.67 | | Net Cash Flow from Financing Activities | 13,695,684,753.78 | | Net Increase in Cash and Cash Equivalents | 2,326,611,588.71 | | Cash and Cash Equivalents at Period-End | 21,238,645,587.44 | Parent Company Cash Flow Statement For Q1-Q3 2019, the parent company experienced a net cash outflow from operating activities of 1.24 billion CNY, a net cash inflow from investing activities of 0.41 billion CNY, and a net cash outflow from financing activities of 0.70 billion CNY, resulting in a net decrease of 1.52 billion CNY in cash and cash equivalents Parent Company Cash Flow Statement Summary (2019 Q1-Q3) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -1,240,678,730.76 | | Net Cash Flow from Investing Activities | 413,666,053.85 | | Net Cash Flow from Financing Activities | -702,166,239.15 | | Net Increase in Cash and Cash Equivalents | -1,523,640,607.02 | | Cash and Cash Equivalents at Period-End | 3,092,620,849.45 | 4.2-4.3 Explanation of Accounting Standard Changes and Adjustments The company adopted new financial instrument standards from January 1, 2019, leading to reclassification and remeasurement of certain financial assets and retrospective adjustments to opening retained earnings and other comprehensive income - The company adopted new financial instrument standards effective January 1, 2019, adjusting the classification and measurement of financial assets[37][41] - Key adjustments include: adding "Receivables Financing" as a new item; reclassifying "Financial Assets Measured at Fair Value Through Profit or Loss" and "Available-for-Sale Financial Assets" to "Financial Assets Held for Trading" and "Other Non-current Financial Assets" respectively[37][42] - In accordance with transition provisions, the company only adjusted opening retained earnings and other comprehensive income for 2019, without restating comparative financial statements for 2018[37][41] Consolidated Balance Sheet Opening Adjustment Summary (January 1, 2019) | Adjustment Item | Adjustment Amount (CNY) | | :--- | :--- | | Assets | | | (+) Financial Assets Held for Trading | 297,835,219.24 | | (-) Financial Assets Measured at Fair Value Through Profit or Loss | -89,725,527.24 | | (+) Receivables Financing | 606,737,144.91 | | (-) Notes Receivable | -606,737,144.91 | | (-) Available-for-Sale Financial Assets | -997,141,365.41 | | (+) Other Non-current Financial Assets | 789,031,673.41 | | Equity | | | (+) Other Comprehensive Income | 39,445,727.10 | | (-) Retained Earnings | -39,445,727.10 | 4.4 Audit Report This quarterly report is unaudited - The audit report is not applicable as this quarterly financial report is unaudited[43]