祥源文旅(600576) - 2021 Q1 - 季度财报

Important Notes The Board of Directors, Supervisory Committee, and senior management ensure the report's authenticity, accuracy, and completeness, while noting the report is unaudited - Management guarantees the authenticity, accuracy, and completeness of the report's content and assumes corresponding legal responsibilities[8][9] - The company's first quarter report is unaudited[10] Company Profile This section presents key financial data and shareholder structure for Q1 2021, highlighting a revenue decrease but a significant non-recurring profit increase Key Financial Data Q1 2021 revenue and net profit declined, but net profit excluding non-recurring items grew significantly while operating cash flow turned negative Key Financial Data for Q1 2021 | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 39,090,952.07 | 57,318,172.70 | -31.80 | | Net Profit Attributable to Shareholders (Yuan) | 5,572,719.44 | 6,098,571.28 | -8.62 | | Net Profit Attributable to Shareholders (Non-recurring items excluded) (Yuan) | 4,863,459.27 | 2,900,950.62 | 67.65 | | Net Cash Flow from Operating Activities (Yuan) | -30,031,477.51 | 24,088,272.11 | -224.67 | | Total Assets (Yuan) | 1,157,277,695.53 | 1,161,862,949.64 (Prior Year-End) | -0.39 | - Total non-recurring gains and losses for the period were 709,260.17 Yuan, primarily from government subsidies of 1,027,324.39 Yuan[14] Shareholder Structure The company had 38,806 shareholders, with the largest shareholder's stake significantly pledged and the second-largest shareholder's stake fully frozen - As of the end of the reporting period, the total number of shareholders was 38,806[14] Top Ten Shareholders | Shareholder Name | Shareholding | Ratio (%) | Share Status | | :--- | :--- | :--- | :--- | | Zhejiang Sunriver Industrial Co., Ltd. | 206,788,258 | 33.39 | Pledged 151,760,000 | | Tibet Lian'er Venture Capital Co., Ltd. | 47,934,743 | 7.74 | Frozen 47,934,743 | | Xu Haiqing | 35,000,000 | 5.65 | None | | Zhang Jie | 12,147,500 | 1.96 | None | | Hangzhou Qiji Investment Management Partnership (Limited Partnership) | 11,155,819 | 1.80 | None | Significant Matters This section analyzes major financial data fluctuations, driven by changes in revenue recognition, increased R&D spending, and higher procurement costs Analysis of Significant Changes in Financial Indicators Significant financial indicator changes were driven by net revenue recognition, increased R&D investment, higher interest income, and increased procurement Analysis of Major Financial Indicator Changes | Item | Change (%) | Primary Reason for Change | | :--- | :--- | :--- | | Operating Revenue | -31.80 | Due to net method revenue recognition | | Operating Costs | -84.57 | Due to net method revenue recognition | | R&D Expenses | 81.39 | Due to increased R&D investment | | Finance Expenses | -404.31 | Due to increased interest income | | Credit Impairment Loss | -809.13 | Due to bad debt provision for receivables | | Net Cash Flow from Operating Activities | -224.67 | Due to increased procurement | Appendix: Financial Statements The appendix contains the unaudited Q1 2021 consolidated and parent company financial statements, including balance sheets, income, and cash flow statements Consolidated Balance Sheet As of March 31, 2021, total assets stood at 1.16 billion Yuan, with a slight decrease from the previous year-end Key Items from Consolidated Balance Sheet (2021-03-31) | Item | Amount (Yuan) | | :--- | :--- | | Assets | | | Total Current Assets | 818,671,059.13 | | Total Non-current Assets | 338,606,636.40 | | Total Assets | 1,157,277,695.53 | | Liabilities and Equity | | | Total Current Liabilities | 132,741,682.32 | | Total Non-current Liabilities | 17,042,137.71 | | Total Liabilities | 149,783,820.03 | | Total Equity Attributable to Parent Company | 1,030,977,421.31 | | Total Liabilities and Equity | 1,157,277,695.53 | Consolidated Income Statement In Q1 2021, the company's total operating revenue decreased by 31.80% while net profit attributable to parent company shareholders slightly fell by 8.62% Key Items from Consolidated Income Statement (Q1 2021) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 39,090,952.07 | 57,318,172.70 | | II. Total Operating Costs | 22,162,699.83 | 58,292,459.44 | | Of which: Operating Costs | 6,825,555.94 | 44,227,993.65 | | III. Operating Profit | 5,696,896.31 | 4,342,880.88 | | IV. Total Profit | 5,612,226.99 | 4,461,534.55 | | Net Profit Attributable to Parent Company Shareholders | 5,572,719.44 | 6,098,571.28 | | Basic Earnings Per Share (Yuan/Share) | 0.01 | 0.01 | Consolidated Cash Flow Statement Net cash flow from operating activities turned significantly negative in Q1 2021 due to increased payments for goods and services Key Items from Consolidated Cash Flow Statement (Q1 2021) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -30,031,477.51 | 24,088,272.11 | | Net Cash Flow from Investing Activities | -12,098.00 | -49,939,310.72 | | Net Cash Flow from Financing Activities | -377,402.58 | -3,738,372.30 | | Net Increase in Cash and Cash Equivalents | -30,407,923.58 | -29,550,967.42 | | Closing Balance of Cash and Cash Equivalents | 260,106,729.21 | 138,957,594.48 | Parent Company Financial Statements The parent company reported a net loss of 1.36 million Yuan and negative operating cash flow of 23.09 million Yuan for Q1 2021 - The parent company's net profit for Q1 2021 was -1,360,283.18 Yuan[46] - Net cash flow from the parent company's operating activities was -23,090,152.28 Yuan[51]