杭萧钢构(600477) - 2020 Q1 - 季度财报

Important Notice This section confirms the quarterly report's accuracy and completeness, as verified by the company's management and board - The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions[8] - This company's Q1 2020 report is unaudited[11] Company Profile This section provides key financial performance indicators and detailed shareholder information as of the reporting period end Key Financial Data In Q1 2020, operating revenue declined 24.06%; net profit attributable to shareholders rose 131.41% due to non-recurring gains, despite core profit and operating cash flow decreases Key Financial Data for Q1 2020 | Indicator | Current Period (Year-to-Date) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 895,511,248.81 | 1,179,275,063.26 | -24.06% | | Net Profit Attributable to Shareholders | 216,392,017.12 | 93,509,305.56 | 131.41% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 64,261,559.55 | 95,601,114.60 | -32.78% | | Net Cash Flow from Operating Activities | -18,851,303.50 | 12,034,218.71 | -256.65% | | Basic Earnings Per Share (CNY/share) | 0.100 | 0.043 | 132.56% | | Weighted Average Return on Net Assets (%) | 6.01% | 2.85% | 增加 3.16 个百分点 | Non-Recurring Gains and Losses for Q1 2020 | Item | Current Period Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 148,959,006.40 | Primarily due to land acquisition matters | | Government Grants Recognized in Current Period P&L | 2,282,820.59 | - | | Fair Value Changes of Financial Instruments and Investment Income | -2,777,800.00 | - | | Net Other Non-Operating Income and Expenses | -440,721.41 | - | | Total | 152,130,457.57 | - | Shareholder Information As of the reporting period end, the company had 71,190 shareholders; controlling shareholder Mr. Shan Yinmu held 42.01% of shares, with 48% pledged - As of the end of the reporting period, the company had 71,190 shareholders[15] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Proportion (%) | Share Status | | :--- | :--- | :--- | :--- | | Shan Yinmu | 904,713,764 | 42.01 | Pledged 435,442,860 shares | | Zhejiang Guotai Construction Group Co., Ltd. | 42,805,433 | 1.99 | Unknown | | Sun Ying | 31,441,280 | 1.46 | Unknown | | Gao Peijie | 27,712,100 | 1.29 | Unknown | | Lu Yongjun | 26,246,741 | 1.22 | None | | Chen Suqin | 22,465,232 | 1.04 | Unknown | | Zhang Zhenyong | 22,037,700 | 1.02 | None | | Chen Hui | 18,005,472 | 0.84 | Pledged 15,130,800 shares | | Xu Ronggen | 15,398,225 | 0.71 | Pledged 4,000,000 shares | | Shan Jihua | 14,904,900 | 0.69 | None | Significant Events This section details significant changes in financial statement items due to new accounting standards and other material events Analysis of Significant Changes in Key Financial Statement Items Significant changes in financial statement items occurred due to new revenue standards and a massive surge in asset disposal gains from land acquisition, boosting profit Significant Changes in Key Balance Sheet Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Notes Receivable | 2454.49% | Increase in bill settlements | | Inventory | -55.68% | Impact of new revenue standard implementation | | Contract Assets | 全增加 | Impact of new revenue standard implementation | | Advances from Customers | -98.35% | Impact of new revenue standard implementation | | Contract Liabilities | 全增加 | Impact of new revenue standard implementation | | Other Payables | 135.31% | Dividend declared and distributed in current period | Significant Changes in Key Income Statement Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Cost | -30.30% | Revenue decrease due to pandemic, leading to corresponding cost reduction | | Selling Expenses | 69.49% | Increase in sales personnel for new businesses | | Gains from Asset Disposal | 480950.06% | Impact of land acquisition by wholly-owned subsidiary | | Asset Impairment Losses | -212.15% | Impact of new revenue and financial instrument standard implementation | Significant Changes in Key Cash Flow Statement Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Received from Disposal of Long-Term Assets | 836929.02% | Wholly-owned subsidiary received corresponding demolition compensation | | Cash Received from Other Financing Activities | 8137.23% | Impact of bill discounting | | Cash Paid for Other Financing Activities | 5794.63% | Impact of bill acceptance payment at maturity | Other Significant Matters The company's 2017 convertible bond review was terminated in January 2020; no overdue unfulfilled commitments or future net profit warnings were issued - On January 20, 2020, the company received notification from the China Securities Regulatory Commission to terminate the review of its application for a 2017 public offering of convertible corporate bonds[26] - During the reporting period, the company had no overdue unfulfilled commitments[27] - The company did not forecast a cumulative net profit loss or significant change compared to the prior year from the beginning of the year to the end of the next reporting period[27] Appendix This section includes the unaudited Q1 2020 financial statements and explanations of adjustments from new accounting standards Financial Statements This section provides the company's unaudited consolidated and parent company financial statements for Q1 2020, including balance sheet, income statement, and cash flow statement Consolidated Balance Sheet Summary (March 31, 2020) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 8,764,834,680.97 | 8,782,703,984.22 | | Contract Assets | 2,156,689,698.77 | 0 | | Inventory | 1,537,151,748.70 | 3,467,983,864.82 | | Total Liabilities | 5,106,459,581.74 | 5,112,311,292.12 | | Contract Liabilities | 1,586,850,300.72 | 0 | | Total Equity Attributable to Parent Company Shareholders | 3,496,080,971.62 | 3,494,915,694.01 | Consolidated Income Statement Summary (Q1 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 895,511,248.81 | 1,179,275,063.26 | | Operating Profit | 238,200,722.87 | 107,072,890.94 | | Gains from Asset Disposal | 149,132,396.45 | 31,001.43 | | Total Profit | 237,701,791.41 | 105,704,630.62 | | Net Profit | 217,489,021.28 | 96,468,893.44 | | Net Profit Attributable to Parent Company Shareholders | 216,392,017.12 | 93,509,305.56 | Consolidated Cash Flow Statement Summary (Q1 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -18,851,303.50 | 12,034,218.71 | | Net Cash Flow from Investing Activities | 64,650,327.61 | -122,907,969.75 | | Net Cash Flow from Financing Activities | -82,614,246.04 | -41,875,353.88 | | Net Increase in Cash and Cash Equivalents | -36,934,209.20 | -152,798,255.06 | Explanation of Accounting Standard Changes and Adjustments Effective January 1, 2020, the company adopted the revised Accounting Standard No. 14—Revenue, leading to retrospective adjustments of opening financial statements, primarily reclassifying assets to 'Contract Assets' and 'Contract Liabilities' - Effective January 1, 2020, the company adopted the new revenue standard, adjusting retained earnings and related financial statement items at the beginning of the year based on cumulative impact, without adjusting comparable period information[74] Key Adjustments to Opening Consolidated Financial Statements upon Adoption of New Revenue Standard | Item | Before Adjustment (CNY) | After Adjustment (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Accounts Receivable | 1,537,340,498.89 | 1,384,714,687.16 | -152,625,811.73 | | Inventory | 3,467,983,864.82 | 1,425,593,270.72 | -2,042,390,594.10 | | Contract Assets | - | 2,217,539,101.57 | 2,217,539,101.57 | | Advances from Customers | 1,415,045,659.30 | 36,403,279.66 | -1,378,642,379.64 | | Contract Liabilities | - | 1,391,120,975.26 | 1,391,120,975.26 | | Undistributed Profits | 955,668,632.36 | 963,708,581.40 | 8,039,949.04 |