泰豪科技(600590) - 2023 Q1 - 季度财报

Important Notice This section confirms the accuracy and completeness of the quarterly report and financial information by the board, supervisory board, senior management, and accounting personnel - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility[3] - The company's principal officer, head of accounting, and head of the accounting department guarantee the truthfulness, accuracy, and completeness of the financial information[4] - The first quarter financial statements are unaudited[5] Key Financial Data This section presents the company's primary financial performance and position indicators for the quarter, including revenue, net profit, cash flow, and asset changes Key Accounting Data and Financial Indicators Taihao Technology's Q1 2023 operating revenue increased by 3.36% to 1.016 billion yuan, while net profit attributable to shareholders significantly decreased by 58.45% to 62.82 million yuan; however, net profit excluding non-recurring items grew by 95.88% to 57.02 million yuan, indicating improved core business profitability, with net cash flow from operating activities surging by 109.41% to 100.83 million yuan. Total assets decreased by 5.37%, and owners' equity attributable to shareholders increased by 1.27% | Item | Current Period (Yuan) | % Change from Prior Year Period | | :--- | :--- | :--- | | Operating Revenue | 1,016,269,066.79 | 3.36 | | Net Profit Attributable to Shareholders of Listed Company | 62,821,778.40 | -58.45 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 57,022,399.09 | 95.88 | | Net Cash Flow from Operating Activities | 100,833,561.63 | 109.41 | | Basic Earnings Per Share (Yuan/Share) | 0.074 | -58.19 | | Diluted Earnings Per Share (Yuan/Share) | 0.074 | -58.19 | | Weighted Average Return on Net Assets (%) | 1.77 | Decrease of 2.18 percentage points | | Item | End of Current Period (Yuan) | End of Prior Year (Yuan) | % Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 13,244,118,381.16 | 13,995,404,599.44 | -5.37 | | Owners' Equity Attributable to Shareholders of Listed Company | 3,580,041,406.12 | 3,535,317,491.24 | 1.27 | Non-Recurring Gains and Losses Items and Amounts The company's total non-recurring gains and losses for the period amounted to 5.799 million yuan, primarily driven by government subsidies of 8.091 million yuan recognized in current profit or loss, offset by fair value changes in financial assets and other non-operating income/expenses, as well as income tax and minority interest impacts | Item | Amount for Current Period (Yuan) | | :--- | :--- | | Gains or Losses on Disposal of Non-Current Assets | 642,590.27 | | Government Subsidies Recognized in Current Profit or Loss | 8,091,259.36 | | Gains or Losses from Changes in Fair Value of Trading Financial Assets, Derivative Financial Assets, Trading Financial Liabilities, Derivative Financial Liabilities, and Investment Income from Disposal of Trading Financial Assets, Derivative Financial Assets, Trading Financial Liabilities, Derivative Financial Liabilities, and Other Debt Investments, excluding effective hedge accounting related to normal business operations | -679,993.55 | | Other Non-Operating Income and Expenses Apart from the Above | -471,294.87 | | Less: Income Tax Impact | 618,277.71 | | Minority Interest Impact (After Tax) | 1,164,904.19 | | Total | 5,799,379.31 | Changes and Reasons for Key Accounting Data and Financial Indicators Net profit attributable to shareholders decreased by 58.45% due to investment gains from the disposal of smart power distribution business in the prior year, while net profit excluding non-recurring items increased by 95.88% from core business growth and reduced credit impairment losses, with net cash flow from operating activities also rising by 109.41% due to faster collection of receivables | Item Name | % Change | Primary Reason | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | -58.45 | Investment income from disposal of smart power distribution business in the prior year period | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 95.88 | After excluding investment income from smart power distribution business, operating profit growth from increased main business revenue, and reduced credit impairment losses due to faster collection of receivables | | Net Cash Flow from Operating Activities | 109.41 | Faster collection of receivables | | Basic Earnings Per Share (Yuan/Share) | -58.19 | Same as the reason for change in "Net Profit Attributable to Shareholders of Listed Company" | | Diluted Earnings Per Share (Yuan/Share) | -58.19 | Same as above | | Long-Term Prepaid Expenses | 63.56 | Increased renovation expenses for Tianjin 764 new factory building in current period | | Contract Liabilities | 31.30 | Growth in main business orders, increased contract prepayments | | Employee Benefits Payable | -45.63 | Payment of salaries | | Taxes Payable | -60.58 | Payment of taxes due | | Non-Current Liabilities Due Within One Year | 36.70 | Transfer of long-term borrowings due within one year | | Long-Term Borrowings | -38.82 | Transfer out of long-term borrowings due within one year | | Other Income | 43.93 | Increased government subsidies related to daily operations | | Investment Income | -108.36 | Investment income from disposal of smart power distribution business in the prior year period | | Non-Operating Income | -55.54 | Decreased other government subsidies received | | Net Cash Flow from Investing Activities | 34.37 | Received proceeds from disposal of Taihao Software equity in current period | | Net Cash Flow from Financing Activities | -312.56 | Paid discounted matured bills in current period | Shareholder Information This section details the total number of shareholders and the holdings of the top ten shareholders, highlighting significant ownership structures and any pledged or frozen shares Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, Taihao Technology had 52,197 common shareholders. Among the top ten, Tongfang Co., Ltd. and Taihao Group Co., Ltd. were the largest, holding 19.62% and 15.07% respectively, with Taihao Group having 127.5 million shares pledged, and China Overseas Holdings Group Co., Ltd.'s entire 6.10% stake frozen, while Shenzhen Hi-Tech Investment Group Co., Ltd. held restricted shares due to unfulfilled performance compensation - The total number of common shareholders at the end of the reporting period was 52,197[13] | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Number of Shares Held (Shares) | Number of Restricted Shares Held (Shares) | Share Status | Quantity (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Tongfang Co., Ltd. | State-owned Legal Person | 19.62 | 167,315,574 | 0 | - | 0 | | Taihao Group Co., Ltd. | Domestic Non-State-owned Legal Person | 15.07 | 128,569,272 | 0 | Pledged | 127,500,000 | | China Overseas Holdings Group Co., Ltd. | Domestic Non-State-owned Legal Person | 6.10 | 51,996,672 | 0 | Frozen | 51,996,672 | | Shenzhen Hi-Tech Investment Group Co., Ltd.* | State-owned Legal Person | 1.19 | 10,139,998 | 9,241,951 | - | 0 | | Yang Jian | Domestic Natural Person | 0.75 | 6,370,000 | 0 | - | 0 | | Zhang Tao | Domestic Natural Person | 0.36 | 3,092,208 | 0 | - | 0 | | Zhejiang Zhongying Capital Investment Partnership (Limited Partnership) | Domestic Non-State-owned Legal Person | 0.33 | 2,832,427 | 0 | - | 0 | | Huang Daifang | Domestic Natural Person | 0.31 | 2,625,699 | 0 | - | 0 | | HKSCC Nominees Limited | Domestic Non-State-owned Legal Person | 0.29 | 2,483,095 | 0 | - | 0 | | Luo Feijie | Domestic Natural Person | 0.27 | 2,300,000 | 0 | - | 0 | - Mr. Huang Daifang is the actual controller and chairman of Taihao Group[14] Other Reminders This section confirms that there are no other significant operational matters requiring investor attention during the reporting period - The company has no other important information regarding the operating conditions of the reporting period that requires investor attention[15] Quarterly Financial Statements This section presents the unaudited consolidated financial statements for the first quarter, including the balance sheet, income statement, and cash flow statement Type of Audit Opinion Taihao Technology's 2023 first-quarter financial statements are unaudited - The quarterly financial statements are unaudited[15] Financial Statements This section details Taihao Technology Co., Ltd.'s consolidated balance sheet, consolidated income statement, and consolidated cash flow statement for the first quarter of 2023, comprehensively presenting the company's asset, liability, and owner's equity structure at the end of the reporting period, as well as its income, cost, profit composition, and cash inflows and outflows during the period Consolidated Balance Sheet This table provides a snapshot of the company's financial position, detailing its assets, liabilities, and owner's equity at the end of the first quarter of 2023 compared to the end of 2022 | Item | March 31, 2023 (Yuan) | December 31, 2022 (Yuan) | % Change | | :--- | :--- | :--- | :--- | | Assets | | | | | Total Current Assets | 9,300,332,395.63 | 10,021,024,606.68 | -7.20 | | Total Non-Current Assets | 3,943,785,985.53 | 3,974,379,992.76 | -0.77 | | Total Assets | 13,244,118,381.16 | 13,995,404,599.44 | -5.37 | | Liabilities | | | | | Total Current Liabilities | 7,298,617,362.50 | 7,694,522,642.55 | -5.14 | | Total Non-Current Liabilities | 1,466,544,907.57 | 1,891,601,205.38 | -22.47 | | Total Liabilities | 8,765,162,270.07 | 9,586,123,847.93 | -8.56 | | Owners' Equity | | | | | Total Owners' Equity Attributable to Parent Company | 3,580,041,406.12 | 3,535,317,491.24 | 1.27 | | Minority Interests | 898,914,704.97 | 873,963,260.27 | 2.85 | | Total Owners' Equity | 4,478,956,111.09 | 4,409,280,751.51 | 1.58 | Consolidated Income Statement This table presents the company's financial performance for the first quarter of 2023, outlining revenues, costs, and net profit compared to the same period in the prior year | Item | Q1 2023 (Yuan) | Q1 2022 (Yuan) | % Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,016,269,066.79 | 983,235,347.98 | 3.36 | | Total Operating Costs | 966,379,933.60 | 964,175,965.88 | 0.23 | | Operating Profit | 91,851,289.79 | 168,251,082.38 | -45.41 | | Total Profit | 92,384,124.08 | 170,172,297.73 | -45.71 | | Net Profit | 83,097,019.40 | 159,932,938.09 | -48.04 | | Net Profit Attributable to Parent Company Shareholders | 62,821,778.40 | 151,203,734.86 | -58.45 | | Minority Interest Income/Loss | 20,275,241.00 | 8,729,203.23 | 132.28 | | Basic Earnings Per Share (Yuan/Share) | 0.074 | 0.177 | -58.19 | | Diluted Earnings Per Share (Yuan/Share) | 0.074 | 0.177 | -58.19 | - Investment income for the current period was -9.0871 million yuan, compared to 108.65 million yuan in the prior year period, a significant year-over-year decrease, which is the primary reason for the decline in net profit[22] Consolidated Cash Flow Statement This table summarizes the cash inflows and outflows from operating, investing, and financing activities for the first quarter of 2023, indicating the company's liquidity and cash generation capabilities | Item | Q1 2023 (Yuan) | Q1 2022 (Yuan) | % Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 100,833,561.63 | 48,151,700.94 | 109.41 | | Net Cash Flow from Investing Activities | -10,116,673.66 | -15,414,514.87 | 34.37 | | Net Cash Flow from Financing Activities | -196,203,707.46 | -47,558,150.90 | -312.56 | | Net Increase in Cash and Cash Equivalents | -106,391,580.17 | -16,300,884.73 | -552.68 | | Cash and Cash Equivalents at End of Period | 1,022,765,091.73 | 1,691,522,715.65 | -39.54 | - Cash received from sales of goods and rendering of services increased by 28.09% year-over-year to 1.335 billion yuan[24] - Cash outflow from financing activities significantly increased, primarily due to the payment of discounted matured bills in the current period[11][25] Adjustments to Beginning-of-Year Financial Statements Due to First-Time Adoption of New Accounting Standards or Interpretations from 2023 Taihao Technology's first-quarter 2023 report does not include adjustments to the beginning-of-year financial statements resulting from the first-time adoption of new accounting standards or interpretations - The company has not adjusted its beginning-of-year financial statements due to the first-time adoption of new accounting standards or interpretations[26] Announcement Conclusion This section formally concludes the quarterly report, stating the issuing entity and date - The Board of Directors of Taihao Technology Co., Ltd. issued this announcement on April 29, 2023[26]