ST景谷(600265) - 2023 Q1 - 季度财报

Company Overview and Important Notice This section confirms the accuracy and completeness of the quarterly report by the board and management, noting that the financial statements are unaudited Important Content Notice The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and bear corresponding legal responsibilities. The financial statements for this quarter are unaudited - The company's person in charge, the head of accounting work, and the head of the accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[2] - The company's Q1 2023 financial statements are unaudited[3] Financial and Operational Summary This section provides an overview of the company's key financial performance, shareholder structure, and significant asset acquisition during the reporting period Key Financial Data and Change Analysis In Q1 2023, the company's operating revenue and total assets both doubled, primarily due to the consolidation of the newly acquired subsidiary, Tangxian Huiyin Wood Industry. Despite the significant revenue increase, net profit attributable to shareholders of the listed company still recorded a loss of 0.291 million Yuan Key Financial Data | Item | Current Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 66,612,012.86 | 123.53% | | Net Profit Attributable to Shareholders of Listed Company | -291,131.27 | Not Applicable | | Net Cash Flow from Operating Activities | -13,711,052.65 | Not Applicable | | Item | End of Current Period | Change from End of Prior Year (%) | | Total Assets | 1,001,179,397.43 | 115.20% | | Total Equity Attributable to Shareholders of Listed Company | 152,750,493.37 | -0.29% | - The significant increase in operating revenue and total assets is primarily due to the consolidation of financial data from the controlling subsidiary, Tangxian Huiyin Wood Industry Co., Ltd., during the reporting period[6] Non-Recurring Gains and Losses | Non-Recurring Gains and Losses Item | Amount for Current Period (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 7,611.42 | | Gains/Losses from Fair Value Changes of Financial Assets Held for Trading | 1,764,835.40 | | Other Non-Operating Income/Expenses and Tax Refunds | 107,496.62 | | Total | 1,879,943.44 | Shareholder Information As of the end of the reporting period, the total number of common shareholders was 4,258. Chow Tai Fook Investment Co., Ltd. is the controlling shareholder with a 55.00% stake, indicating a stable equity structure. No related party relationships or concerted actions were found among the top ten shareholders - As of the end of the reporting period, the company had a total of 4,258 common shareholders[8] Top Shareholders | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | | Chow Tai Fook Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 71,389,900 | 55.00 | | Hangzhou Cixuan Peitong Investment Management Partnership (Limited Partnership) | Other | 12,078,153 | 9.31 | | Xie Zhimin | Domestic Natural Person | 2,677,786 | 2.06 | Major Asset Acquisition During the reporting period, the company completed a major asset acquisition of 51% equity in Tangxian Huiyin Wood Industry Co., Ltd., and has completed the industrial and commercial change registration, becoming its controlling shareholder. This acquisition aims to enrich the company's engineered wood product line and enhance industry competitiveness. To support this acquisition, controlling shareholder Chow Tai Fook Investment provided financial assistance of up to 350 million Yuan - The company initiated and completed a major asset acquisition of 51% equity in Tangxian Huiyin Wood Industry Co., Ltd., which constitutes a major asset restructuring[10][11] - Upon completion of this acquisition, the company's products will cover major engineered wood varieties such as veneer, plywood, fiberboard, and particleboard, enriching the product structure and enhancing industry competitiveness[12] - To ensure the smooth progress of the acquisition, controlling shareholder Chow Tai Fook Investment agreed to provide the company with financial assistance loans of up to 350 million Yuan at an annual interest rate of 2.75% for a term of 5 years[10] Quarterly Financial Statements (Unaudited) This section presents the unaudited consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2023, the company's total assets reached 1.001 billion Yuan, an increase of 115.20% from the end of the previous year, primarily due to the consolidation of Huiyin Wood Industry. Significant increases were observed in inventory, fixed assets, goodwill on the asset side, and other payables on the liability side, along with the addition of 176 million Yuan in minority interests Major Asset Items | Major Asset Items | March 31, 2023 (Yuan) | December 31, 2022 (Yuan) | | :--- | :--- | :--- | | Inventory | 303,299,253.49 | 165,960,408.61 | | Fixed Assets | 338,074,457.45 | 22,385,840.81 | | Goodwill | 89,365,605.58 | 0 | | Total Assets | 1,001,179,397.43 | 465,236,344.21 | Major Liabilities and Equity Items | Major Liabilities and Equity Items | March 31, 2023 (Yuan) | December 31, 2022 (Yuan) | | :--- | :--- | :--- | | Other Payables | 264,933,959.60 | 66,059,041.13 | | Long-Term Payables | 299,457,652.36 | 183,900,000.00 | | Total Liabilities | 672,176,931.38 | 312,047,675.55 | | Minority Interests | 176,251,972.68 | 0 | | Total Owners' Equity | 329,002,466.05 | 153,188,668.66 | Consolidated Income Statement In Q1 2023, the company achieved operating revenue of 66.61 million Yuan, a year-over-year increase of 123.53%, primarily due to the consolidation of Huiyin Wood Industry's revenue. Despite a corresponding increase in total operating costs, operating profit turned positive, benefiting from investment income and other items. The net loss attributable to parent company shareholders was 0.291 million Yuan, a significant reduction from the 2.692 million Yuan loss in the same period last year Consolidated Income Statement | Item | Q1 2023 (Yuan) | Q1 2022 (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 66,612,012.86 | 29,800,224.22 | | Total Operating Costs | 67,965,195.50 | 32,864,321.23 | | Operating Profit | 2,025,565.30 | -2,721,850.52 | | Total Profit | 2,121,913.45 | -2,741,351.33 | | Net Profit Attributable to Parent Company Shareholders | -291,131.27 | -2,691,669.02 | | Basic Earnings Per Share (Yuan/share) | -0.002 | -0.021 | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -13.71 million Yuan, with outflows primarily for purchasing goods and paying employee salaries. Net cash outflow from investing activities was 53.82 million Yuan, mainly for payments related to subsidiary acquisitions. Net cash inflow from financing activities was 65.53 million Yuan, primarily from related party borrowings, providing financial support for investing activities, with cash and cash equivalents balance of 25.11 million Yuan at period-end Consolidated Cash Flow Statement | Item | Q1 2023 (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -13,711,052.65 | | Net Cash Flow from Investing Activities | -53,815,562.50 | | Net Cash Flow from Financing Activities | 65,529,050.65 | | Net Increase in Cash and Cash Equivalents | -2,119,313.84 | - Cash outflow from investing activities was primarily due to net cash payments of 53.02 million Yuan for the acquisition of subsidiaries and other business units[24] - Cash inflow from financing activities was primarily due to 72.20 million Yuan received from other financing-related activities, potentially linked to financial assistance from the controlling shareholder[24]