华升股份(600156) - 2023 Q1 - 季度财报

Key Financial Data and Operating Performance In Q1 2023, operating revenue declined by 22.69% due to international trade, but net profit attributable to shareholders turned profitable at 15.87 million yuan primarily due to fair value changes of financial assets, while core business remained at a loss with narrowed operating losses and negative operating cash flow Key Financial Data and Operating Performance Table | Item | Current Period (Million Yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 161.09 | -22.69% | | Net Profit Attributable to Shareholders | 15.87 | N/A (Turned Profitable) | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | -14.29 | N/A | | Net Cash Flow from Operating Activities | -12.59 | N/A | | Total Assets (Period-End) | 969.12 | -0.70% (vs. Year-End) | | Shareholders' Equity Attributable to Shareholders (Period-End) | 458.60 | 3.58% (vs. Year-End) | - Total non-recurring gains and losses for the period amounted to 30.16 million yuan, primarily driven by fair value changes from held-for-trading financial assets totaling 29.04 million yuan, which was a key factor for the company's profitability this period[7] - The company explained changes in key financial indicators: - Operating revenue decreased primarily due to international trade conditions - Net profit attributable to shareholders turned profitable mainly due to fair value changes of Xiangcai Securities shares - Loss in net profit attributable to shareholders (excluding non-recurring items) narrowed mainly due to reduced operating losses after personnel reallocation at subsidiary Dongma Company[8] Shareholder Structure As of the end of the reporting period, the company had 22,266 common shareholders, with the largest shareholder being state-owned Hunan Xingxiang Investment Holding Group Co., Ltd., holding 40.31%, indicating a relatively concentrated and stable equity structure, and no related party relationships or concerted actions among shareholders were disclosed - As of the end of the reporting period, the company had 22,266 common shareholders[10] Shareholder Structure Table | Shareholder Name | Shareholder Type | Shareholding (%) | | :--- | :--- | :--- | | Hunan Xingxiang Investment Holding Group Co., Ltd. | State-owned Legal Entity | 40.31 | | An Tongliang | Domestic Individual | 2.55 | | Ou Yanwu | Domestic Individual | 1.72 | | Yu E | Domestic Individual | 0.70 | | Li Yaochu | Domestic Individual | 0.62 | Quarterly Financial Statement Analysis This section presents the unaudited Q1 2023 consolidated financial statements, including the balance sheet, income statement, and cash flow statement, revealing operational challenges and reliance on investment income despite minor changes in total assets and liabilities Consolidated Balance Sheet As of March 31, 2023, total assets were 969.12 million yuan, a slight decrease of 0.70% from year-end, total liabilities were 542.80 million yuan, down 3.05%, and shareholders' equity attributable to the parent company increased to 458.60 million yuan, up 3.58% due to current period profitability Consolidated Balance Sheet Table | Item | March 31, 2023 (Million Yuan) | December 31, 2022 (Million Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 969.12 | 975.91 | -0.70% | | Total Liabilities | 542.80 | 559.88 | -3.05% | | Total Shareholders' Equity Attributable to Parent Company | 458.60 | 442.73 | +3.58% | Consolidated Income Statement In Q1 2023, operating revenue was 161.09 million yuan, a 22.69% year-on-year decrease; however, operating profit and net profit turned profitable, with net profit attributable to the parent company at 15.87 million yuan (vs. a loss of 39.69 million yuan in prior year), primarily due to fair value change gains shifting from a 24.44 million yuan loss to a 22.02 million yuan gain Consolidated Income Statement Table | Item | Q1 2023 (Million Yuan) | Q1 2022 (Million Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 161.09 | 208.37 | -22.69% | | Operating Profit | 14.52 | -49.36 | Turned Profitable | | Net Profit | 10.28 | -43.27 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 15.87 | -39.69 | Turned Profitable | - The core driver for the turnaround to profitability was 'fair value change gains', which significantly shifted from a -24.44 million yuan loss in the prior year to a 22.02 million yuan gain in the current period, representing a substantial difference[15] Consolidated Cash Flow Statement During the reporting period, all three cash flow activities (operating, investing, financing) were net outflows, with operating activities at -12.59 million yuan, investing activities at -30.53 million yuan due to higher cash payments for investments, and financing activities at -6.84 million yuan, resulting in a net decrease of 49.95 million yuan in cash and cash equivalents Consolidated Cash Flow Statement Table | Item | Q1 2023 (Million Yuan) | Q1 2022 (Million Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -12.59 | -34.00 | | Net Cash Flow from Investing Activities | -30.53 | 100.85 | | Net Cash Flow from Financing Activities | -6.84 | -8.79 | | Net Increase/Decrease in Cash and Cash Equivalents | -49.95 | 58.07 |