天通股份(600330) - 2023 Q3 - 季度财报

Report Cover and Important Notice This section provides the cover information and key disclaimers for the Q3 2023 report, including management's responsibility and the unaudited status of financial statements Important Content Notice This section presents the Q3 2023 report's cover and key notices, affirming management's responsibility for content accuracy and the unaudited status of financial statements - This report is the Q3 2023 report of TIANTONG HOLDINGS CO., LTD[1] - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[2][3] - The Q3 financial statements are unaudited[4] I. Key Financial Data This section presents the company's key accounting data and financial indicators for Q3 2023 and year-to-date, highlighting significant changes and their underlying reasons (I) Key Accounting Data and Financial Indicators Q3 and year-to-date operating revenue and net profit attributable to shareholders significantly declined, while total assets and owners' equity increased Key Accounting Data and Financial Indicators (Unit: Yuan, Currency: RMB) | Item | Current Period | YoY Change (%) for Current Period | Year-to-Date | YoY Change (%) for Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 899,986,794.69 | -29.81 | 2,888,379,432.47 | -15.25 | | Net Profit Attributable to Listed Company Shareholders | 92,247,212.14 | -76.86 | 279,137,045.47 | -57.22 | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-recurring Gains and Losses | 50,276,144.44 | -56.93 | 201,447,778.12 | -37.20 | | Net Cash Flow from Operating Activities | Not applicable | Not applicable | 205,156,982.66 | -47.23 | | Basic Earnings Per Share (Yuan/share) | 0.075 | -81.25 | 0.226 | -65.50 | | Diluted Earnings Per Share (Yuan/share) | 0.075 | -81.25 | 0.226 | -65.50 | | Weighted Average Return on Net Assets (%) | 1.176 | Decreased by 6.56 percentage points | 3.510 | Decreased by 9.17 percentage points | | Item | End of Current Period | Change (%) from End of Prior Year | End of Prior Year | | | Total Assets | 11,527,830,958.82 | 5.89 | 10,887,051,766.82 | | | Owners' Equity Attributable to Listed Company Shareholders | 8,062,483,124.55 | 3.41 | 7,796,704,419.31 | | (II) Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses, mainly government subsidies, positively impacted net profit for the current period and year-to-date Non-recurring Gains and Losses Items and Amounts (Unit: Yuan, Currency: RMB) | Item | Amount for Current Period | Amount for Year-to-Date | Notes | | :--- | :--- | :--- | :--- | | Disposal gains/losses on non-current assets | -108,284.25 | -333,535.37 | | | Government subsidies recognized in current profit/loss | 49,438,301.11 | 91,964,363.90 | | | Other non-operating income and expenses | 1,258,439.95 | 1,464,854.28 | | | Less: Income tax impact | 8,616,721.52 | 15,075,579.05 | | | Impact on minority interests (after tax) | 667.59 | 330,836.41 | | | Total | 41,971,067.70 | 77,689,267.35 | | (III) Changes and Reasons for Key Accounting Data and Financial Indicators Net profit and non-recurring net profit significantly declined due to a high 2022 investment income base and lower sapphire material prices; operating cash flow decreased from reduced sales, and EPS was impacted by increased share capital - Net profit attributable to shareholders decreased by 76.86% in the current period and 57.22% year-to-date, primarily due to the comparative difference in investment income from the transfer of Broadcom Technology equity in Q3 2022[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 56.93% in the current period, mainly due to a year-on-year decrease in sapphire crystal material unit prices, leading to a reduction in profit[7] - Net cash flow from operating activities decreased by 47.23% year-to-date, primarily due to a year-on-year decrease in cash received from sales of goods and services during the reporting period[8] - Basic and diluted earnings per share decreased by 81.25% in the current period and 65.50% year-to-date, mainly due to an increase in share capital from a non-public stock offering completed at the end of 2022 and a year-on-year decrease in investment income from equity transfers[8] II. Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the holdings of the top ten shareholders, highlighting significant ownership and related party relationships (I) Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 104,228 common shareholders; Tiantong Gaoxin Group is the largest, with its controlling shareholder Pan Jianqing having related party relationships with other top shareholders, and some shares are pledged - Total number of common shareholders was 104,228 at the end of the reporting period[10] Top 10 Shareholders' Holdings (Unit: Shares) | Shareholder Name | Shareholder Nature | Number of Shares Held | Holding Percentage (%) | Number of Restricted Shares Held | Share Status | Pledged, Marked, or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Tiantong Gaoxin Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 129,561,810 | 10.50 | 0 | Pledged | 90,752,000 | | Pan Jianqing | Domestic Natural Person | 57,306,180 | 4.65 | 0 | Pledged | 32,400,000 | | Guangdong Hengjian International Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 20,152,020 | 1.63 | 0 | Unknown | | | Pan Jianzhong | Domestic Natural Person | 19,920,000 | 1.62 | 0 | Pledged | 6,100,000 | | Pan Juanmei | Domestic Natural Person | 19,056,000 | 1.54 | 0 | None | | | Huitianfu Fund Management Co., Ltd. - Social Security Fund 17022 Portfolio | Domestic Non-State-Owned Legal Person | 15,176,264 | 1.23 | 0 | Unknown | | | China Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Product - 005L - CT001 Shanghai | Domestic Non-State-Owned Legal Person | 10,966,069 | 0.89 | 0 | Unknown | | | Chen Yating | Domestic Natural Person | 9,700,000 | 0.79 | 0 | Unknown | | | Haining Economic Development Investment Company | State-Owned Legal Person | 9,153,552 | 0.74 | 0 | None | | | Yu Zhihua | Domestic Natural Person | 7,234,083 | 0.59 | 0 | None | | - The second largest shareholder, Pan Jianqing, is the controlling shareholder of the largest shareholder, Tiantong Gaoxin Group Co., Ltd., and is related to the fourth and fifth shareholders, Pan Jianzhong and Pan Juanmei (siblings), and the tenth shareholder, Yu Zhihua (their mother)[11] III. Other Reminders This section addresses any additional important information or reminders for investors regarding the company's operations during the reporting period Other Important Information Regarding Operating Performance Requiring Investor Attention The company confirms no other significant operating information requires special investor attention during the reporting period - The company has no other important operating information requiring investor attention during the reporting period[12] IV. Quarterly Financial Statements This section contains the company's quarterly financial statements, including the audit opinion type and detailed financial reports (I) Type of Audit Opinion The financial statements for the current quarter are unaudited - The financial statements for the current quarter are unaudited[12] (II) Financial Statements This section presents the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, detailing Q3 2023 financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2023, consolidated total assets grew 5.89% year-over-year, driven by increases in construction in progress, accounts receivable, and inventories, alongside significant growth in short-term borrowings and notes payable Consolidated Balance Sheet Key Data (Unit: Yuan) | Item | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Assets | 11,527,830,958.82 | 10,887,051,766.82 | | Total Liabilities | 3,426,680,517.48 | 3,054,821,621.99 | | Total Owners' Equity | 8,101,150,441.34 | 7,832,230,144.83 | | Short-term Borrowings | 702,068,231.29 | 382,780,715.42 | | Accounts Receivable | 2,092,749,861.65 | 2,016,694,040.89 | | Inventories | 1,367,094,412.12 | 1,229,187,000.72 | | Construction in Progress | 1,335,486,624.20 | 839,698,662.57 | | Notes Payable | 803,216,181.59 | 527,186,734.81 | - Total assets increased by 5.89% from the end of the prior year[5] Consolidated Income Statement Q1-Q3 2023 consolidated total operating revenue decreased 15.25% year-on-year, with net profit attributable to parent company shareholders sharply down 57.22%, primarily due to reduced investment income and a shift to negative financial expenses Consolidated Income Statement Key Data (Unit: Yuan) | Item | Q1-Q3 2023 (Jan-Sep) | Q1-Q3 2022 (Jan-Sep) | | :--- | :--- | :--- | | Total Operating Revenue | 2,888,379,432.47 | 3,408,105,280.66 | | Total Operating Costs | 2,728,979,338.03 | 3,066,669,510.26 | | Operating Profit | 300,232,099.76 | 707,351,399.76 | | Total Profit | 301,873,994.23 | 706,946,963.06 | | Net Profit | 282,124,783.60 | 658,082,505.37 | | Net Profit Attributable to Parent Company Shareholders | 279,137,045.47 | 652,452,813.18 | | Investment Income | 9,125,548.70 | 341,274,258.73 | | Financial Expenses | -51,372,851.47 | 17,365,096.97 | | Basic Earnings Per Share (Yuan/share) | 0.226 | 0.655 | - Total operating revenue decreased by 15.25% year-on-year[17] - Net profit attributable to parent company shareholders decreased by 57.22% year-on-year[18] Consolidated Cash Flow Statement Q1-Q3 2023 consolidated net operating cash flow decreased 47.23% year-on-year due to reduced sales; investing activities saw a significant outflow, while financing activities turned positive Consolidated Cash Flow Statement Key Data (Unit: Yuan) | Item | Q1-Q3 2023 (Jan-Sep) | Q1-Q3 2022 (Jan-Sep) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 205,156,982.66 | 388,769,158.14 | | Net Cash Flow from Investing Activities | -413,110,046.91 | -50,626,749.43 | | Net Cash Flow from Financing Activities | 101,005,614.46 | -290,020,329.89 | | Net Increase in Cash and Cash Equivalents | -102,399,742.14 | 55,566,160.40 | - Cash received from sales of goods and services decreased year-on-year, leading to a decline in total operating cash inflows[21] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets increased, and cash paid for investments also significantly rose, leading to a substantial increase in cash outflows from investing activities[22] Parent Company Balance Sheet As of September 30, 2023, parent company total assets slightly increased, driven by long-term equity investments and accounts receivable, while notes payable and accounts payable also rose Parent Company Balance Sheet Key Data (Unit: Yuan) | Item | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Assets | 7,503,336,303.06 | 7,416,446,904.91 | | Total Liabilities | 981,864,785.34 | 910,604,117.59 | | Total Owners' Equity | 6,521,471,517.72 | 6,505,842,787.32 | | Long-term Equity Investments | 2,249,975,092.53 | 2,007,717,101.55 | | Accounts Receivable | 735,944,467.85 | 508,359,489.70 | | Notes Payable | 454,502,837.52 | 323,418,718.89 | | Accounts Payable | 366,554,363.98 | 287,642,179.65 | Parent Company Income Statement Q1-Q3 2023 parent company operating revenue decreased year-on-year, with net profit significantly down, mainly due to a substantial decline in investment income Parent Company Income Statement Key Data (Unit: Yuan) | Item | Q1-Q3 2023 (Jan-Sep) | Q1-Q3 2022 (Jan-Sep) | | :--- | :--- | :--- | | Operating Revenue | 1,291,084,517.62 | 1,487,036,696.53 | | Operating Profit | 30,205,509.17 | 403,979,302.70 | | Net Profit | 28,738,798.18 | 392,966,965.73 | | Investment Income | 9,411,875.14 | 343,799,244.58 | | Financial Expenses | -51,416,255.42 | -1,433,382.40 | - Parent company net profit significantly decreased year-on-year, primarily due to investment income falling from 344 million Yuan to 9 million Yuan[28] Parent Company Cash Flow Statement Q1-Q3 2023 parent company net operating cash flow turned positive, investing activities saw a significant outflow, and financing activities remained an outflow but narrowed Parent Company Cash Flow Statement Key Data (Unit: Yuan) | Item | Q1-Q3 2023 (Jan-Sep) | Q1-Q3 2022 (Jan-Sep) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 175,733,129.08 | -64,638,155.46 | | Net Cash Flow from Investing Activities | -240,684,346.89 | 189,638,855.25 | | Net Cash Flow from Financing Activities | -63,195,425.31 | -82,946,972.66 | | Net Increase in Cash and Cash Equivalents | -125,592,489.11 | 43,937,196.51 | - Total operating cash inflows increased while total outflows decreased, resulting in net cash flow from operating activities turning positive[30] - Cash paid for investments significantly increased, causing net cash flow from investing activities to shift from an inflow to a substantial outflow[30]