南京商旅(600250) - 2022 Q3 - 季度财报

Major Financial Data This section provides an overview of the company's key financial performance indicators and their underlying causes, including detailed accounting data, non-recurring gains and losses, and analysis of significant changes Key Accounting Data and Financial Indicators In Q3 2022, the company achieved significant revenue growth of 50.00% year-over-year, yet remained in a net loss position of -87.65 million yuan attributable to parent company shareholders year-to-date, with total assets and equity attributable to parent company shareholders declining by 13.23% and 22.93% respectively compared to the end of the previous year | Item | Current Period (Q3) | Year-to-Date (YTD) | YTD vs. Prior Year Same Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 221 million yuan | 657 million yuan | 13.78% | | Net Profit Attributable to Listed Company Shareholders | 0.87 million yuan | -87.65 million yuan | N/A | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-recurring Items) | 0.54 million yuan | -92.85 million yuan | N/A | | Net Cash Flow from Operating Activities | N/A | -21.95 million yuan | N/A | | As of Period End Indicators | Current Period End | Previous Year-End | Current Period End vs. Previous Year-End Change (%) | | Total Assets | 1.753 billion yuan | 2.021 billion yuan | -13.23% | | Owner's Equity Attributable to Listed Company Shareholders | 475 million yuan | 616 million yuan | -22.93% | Non-recurring Gains and Losses Items and Amounts Year-to-date, the company's non-recurring gains and losses totaled 5.20 million yuan, primarily from government grants, other non-operating income, and fair value changes in financial assets, positively impacting current period profit | Item | Year-to-Date Amount (Yuan) | | :--- | :--- | | Government Grants | 616,468.04 | | Gains/Losses from Financial Assets | 642,686.42 | | Net Other Non-operating Income and Expenses | 4,700,258.87 | | Total | 5,202,875.66 | Analysis of Changes in Key Financial Indicators Significant changes in Q3 financial indicators are primarily due to business expansion and a low comparative base from the prior year, with revenue growth driven by increased trade business and improved net profit metrics largely due to substantial investment losses recognized in the prior year - Operating revenue increased by 50.00% year-over-year in the current period, primarily due to the expansion of trade business[6] - Net profit attributable to shareholders, non-recurring net profit, and earnings per share significantly improved year-over-year (change marked as 'N/A') primarily due to substantial investment losses recognized from associates in the prior year[6] Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the top ten shareholders' holdings, highlighting the concentration of state-owned entities Common Shareholder Holdings As of the end of the reporting period, the company had 12,619 common shareholders, with a relatively concentrated equity structure where the top two state-owned legal entities, Nanjing Tourism Group Co., Ltd. and Nanjing Confucius Temple Cultural Tourism Group Co., Ltd., collectively held 45.86% of shares - Total common shareholders at the end of the reporting period were 12,619[8] Top Ten Shareholders | Shareholder Name | Shareholding (%) | Shareholder Nature | | :--- | :--- | :--- | | Nanjing Tourism Group Co., Ltd. | 33.68 | State-owned Legal Entity | | Nanjing Confucius Temple Cultural Tourism Group Co., Ltd. | 12.18 | State-owned Legal Entity | | China Securities Investor Protection Fund Co., Ltd. | 5.99 | State-owned Legal Entity | | Nanjing Commercial Building Co., Ltd. | 1.35 | State-owned Legal Entity | - Controlling shareholder Nanjing Tourism Group Co., Ltd. and its controlled subsidiary Nanjing Commercial Building Co., Ltd. constitute a concerted action relationship[9] Other Important Reminders This section highlights ongoing significant matters that investors should monitor, including a lawsuit for unfulfilled performance commitments and the planned divestiture of non-core assets Important Information for Investor Attention The company is currently pursuing two significant matters that may impact future operations and financial conditions: a lawsuit for 7.9552 million yuan regarding a subsidiary's unfulfilled performance commitment, and the public listing for transfer of 100% equity in Hong Kong Xinlv International Co., Ltd. to divest non-core assets - The company has filed a lawsuit against Fuzimiao Cultural Tourism for 7.9552 million yuan in cash compensation due to its subsidiary Qinhuai Fengguang's failure to meet 2021 performance commitments, with the case currently in first-instance trial[10] - The company is publicly listing 100% equity of Hong Kong Xinlv International Co., Ltd. for transfer at a price no less than the state-owned asset-backed appraised value of 179 million yuan, aiming to optimize its asset structure[11] Quarterly Financial Statements This section presents the company's consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement, providing a detailed view of its financial position and performance Consolidated Balance Sheet As of September 30, 2022, the company's total assets were 1.753 billion yuan, total liabilities 1.099 billion yuan, and asset-liability ratio 62.7%, with declines in total assets and owner's equity compared to the prior year-end, primarily due to reduced values of long-term equity investments and other equity instruments | Item | September 30, 2022 (Billion Yuan) | December 31, 2021 (Billion Yuan) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1.753 | 2.021 | -13.23% | | Total Current Assets | 0.572 | 0.693 | -17.45% | | Total Non-current Assets | 1.181 | 1.328 | -11.07% | | Total Liabilities | 1.099 | 1.231 | -10.72% | | Total Current Liabilities | 0.826 | 0.938 | -11.94% | | Total Owner's Equity | 0.654 | 0.790 | -17.21% | | Owner's Equity Attributable to Parent Company | 0.475 | 0.616 | -22.93% | Consolidated Income Statement In the first three quarters of 2022, operating revenue grew 13.78% to 657 million yuan, but the company remained unprofitable, incurring an operating loss of 83.65 million yuan and a net loss attributable to parent company shareholders of 87.65 million yuan, primarily due to 63.26 million yuan in investment losses and 20.71 million yuan in credit impairment losses, though the overall loss narrowed year-over-year | Item | First Three Quarters 2022 (Million Yuan) | First Three Quarters 2021 (Million Yuan) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 657.33 | 577.71 | +13.78% | | Total Operating Costs | 657.05 | 574.83 | +14.30% | | Investment Income | -63.26 | -79.76 | Loss Reduced | | Credit Impairment Losses | -20.71 | 0.48 | Turned from Positive to Negative | | Operating Profit | -83.65 | -75.07 | Loss Expanded | | Net Profit Attributable to Parent Company Shareholders | -87.65 | -98.14 | Loss Narrowed | - Investment losses from associates and joint ventures, totaling 63.64 million yuan, were a primary contributor to the overall loss[19] Consolidated Cash Flow Statement In the first three quarters of 2022, operating cash flow was a net outflow of 21.95 million yuan, an improvement from the prior year, while investing and financing activities resulted in net outflows of 37.45 million yuan and 13.65 million yuan respectively, indicating net cash expenditures in both areas, with the period-end cash and cash equivalents balance at 290.91 million yuan, a decrease of 69.56 million yuan from the beginning of the period | Item | First Three Quarters 2022 (Million Yuan) | First Three Quarters 2021 (Million Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -21.95 | -38.26 | | Net Cash Flow from Investing Activities | -37.45 | -54.77 | | Net Cash Flow from Financing Activities | -13.65 | -136.69 | | Net Increase in Cash and Cash Equivalents | -69.56 | -229.16 | | Cash and Cash Equivalents at Period End | 290.91 | 264.70 |