北汽蓝谷(600733) - 2021 Q3 - 季度财报

Major Financial Data Key Accounting Data and Financial Indicators In Q3 2021, the company achieved substantial revenue growth, with a 352.19% increase for the quarter and 55.49% year-to-date, despite a 2.644 billion Yuan net loss attributable to shareholders year-to-date, alongside a 3.95% decrease in total assets and a 25.64% increase in shareholders' equity Key Financial Indicators for Q3 2021 | Indicator | Current Period (Q3 2021) | Year-to-Date (Jan-Sep 2021) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (billion Yuan) | 3.661 | 6.098 | 55.49% | | Net Profit Attributable to Shareholders of Listed Company (billion Yuan) | -0.831 | -2.644 | Not Applicable | | Net Cash Flow from Operating Activities (billion Yuan) | Not Applicable | 3.052 | Not Applicable | | Basic Earnings Per Share (Yuan/share) | -0.19 | -0.69 | Not Applicable | Key Balance Sheet Data as of September 30, 2021 | Indicator | End of Current Period (Sep 30, 2021) | End of Prior Year (Dec 31, 2020) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (billion Yuan) | 41.903 | 43.626 | -3.95% | | Shareholders' Equity Attributable to Shareholders of Listed Company (billion Yuan) | 13.722 | 10.921 | 25.64% | Non-recurring Gains and Losses Items and Amounts Year-to-date, the company's non-recurring gains and losses totaled 304.73 million Yuan, primarily from 119.04 million Yuan in government grants and 285.12 million Yuan from the reversal of impairment provisions for individually tested receivables Non-recurring Gains and Losses Items Year-to-Date | Item | Year-to-Date Amount (million Yuan) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 119.04 | | Reversal of Impairment Provisions for Individually Tested Receivables | 285.12 | | Total | 304.73 | Analysis of Changes in Key Financial Data The company explained significant changes in key financial indicators, attributing substantial operating revenue growth to increased vehicle sales and credit income, and improved net cash flow from operating activities to better business performance, higher cash receipts from vehicle sales, and reduced payments for goods - Operating revenue for the current period increased by 352.19% year-on-year, primarily due to a rise in vehicle sales and credit income[7] - Net cash flow from operating activities improved, mainly due to better business performance, including increased cash receipts from vehicle sales and decreased payments for goods in the current period[7] Shareholder Information Shareholding Status of Shareholders As of the end of the reporting period, the company had 157,486 common shareholders, with Beijing Automotive Group Co., Ltd. as the largest shareholder holding 29.57%, indicating a strong state-owned background among the top ten shareholders - The total number of common shareholders at the end of the reporting period was 157,486[8] Shareholding Status of Top Five Shareholders | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | Beijing Automotive Group Co., Ltd. | State-owned Legal Person | 1,267,937,269 | 29.57 | | BAIC (Guangzhou) Automobile Co., Ltd. | Domestic Non-state-owned Legal Person | 268,054,522 | 6.25 | | Bohai Automotive Systems Co., Ltd. | State-owned Legal Person | 129,182,912 | 3.01 | | Wuhu Xinshi Xinyi Investment Management Partnership | Other | 124,109,800 | 2.89 | | Daimler Greater China Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 105,269,045 | 2.46 | - The largest shareholder, Beijing Automotive Group Co., Ltd., has an affiliated or concerted action relationship with the second and third largest shareholders, BAIC (Guangzhou) Automobile Co., Ltd. and Bohai Automotive Systems Co., Ltd[8] Other Reminders Other Important Information During the reporting period, the company had no other significant operating information requiring special attention from investors - The company had no other significant operating information requiring special attention from investors during this reporting period[10] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2021, the company's total assets were 41.903 billion Yuan, a 3.95% decrease from the beginning of the year, while total liabilities were 27.710 billion Yuan, down 14.06%, and equity attributable to the parent company increased significantly by 25.64% to 13.722 billion Yuan, primarily due to increased capital reserves Key Consolidated Balance Sheet Items (Unit: billion Yuan) | Item | Sep 30, 2021 | Dec 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 6.373 | 3.970 | +2.403 | | Accounts Receivable | 14.349 | 18.266 | -3.917 | | Inventories | 1.642 | 4.083 | -2.441 | | Total Assets | 41.903 | 43.626 | -1.723 | | Short-term Borrowings | 4.391 | 7.567 | -3.176 | | Total Liabilities | 27.710 | 32.242 | -4.532 | | Capital Reserves | 18.764 | 14.108 | +4.656 | | Retained Earnings | -9.316 | -6.671 | -2.645 | | Equity Attributable to Parent Company Shareholders | 13.722 | 10.921 | +2.801 | Consolidated Income Statement For the first three quarters of 2021, the company achieved total operating revenue of 6.098 billion Yuan, a 55.49% year-on-year increase, yet reported a net loss attributable to parent company shareholders of 2.644 billion Yuan, narrowing from 2.884 billion Yuan in the prior year due to high operating costs and expenses Key Consolidated Income Statement Items (Jan-Sep 2021 vs Jan-Sep 2020, Unit: billion Yuan) | Item | Jan-Sep 2021 | Jan-Sep 2020 | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 6.098 | 3.922 | +55.49% | | Total Operating Costs | 8.996 | 6.577 | +36.78% | | Of which: Selling Expenses | 1.022 | 0.592 | +72.61% | | Of which: Research and Development Expenses | 0.652 | 0.422 | +54.50% | | Operating Profit | -2.618 | -3.057 | Loss Narrowed | | Net Profit Attributable to Parent Company Shareholders | -2.644 | -2.884 | Loss Narrowed | Consolidated Cash Flow Statement For the first three quarters of 2021, net cash flow from operating activities significantly reversed to a positive 3.052 billion Yuan from -7.227 billion Yuan in the prior year, driven by increased cash receipts from sales, while net cash outflow from investing activities was 1.380 billion Yuan and net cash inflow from financing activities was 0.452 billion Yuan, resulting in an ending cash and cash equivalents balance of 5.546 billion Yuan Key Consolidated Cash Flow Statement Items (Jan-Sep 2021 vs Jan-Sep 2020, Unit: billion Yuan) | Item | Jan-Sep 2021 | Jan-Sep 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 3.052 | -7.227 | | Net Cash Flow from Investing Activities | -1.380 | 3.721 | | Net Cash Flow from Financing Activities | 0.452 | 2.436 | | Net Increase in Cash and Cash Equivalents | 2.124 | -1.071 | Explanation of Adjustments for First-time Adoption of New Lease Standards Effective January 1, 2021, the company adopted new lease standards, retrospectively adjusting its financial statements at the date of initial application, primarily recognizing 162.81 million Yuan in right-of-use assets and 77.93 million Yuan in lease liabilities, with corresponding adjustments to fixed assets and prepayments - The company adopted the new Lease Standard (CAS 21 – Leases) issued by the Ministry of Finance, effective January 1, 2021[22] Key Adjustment Items on Initial Adoption Date of New Lease Standards (January 1, 2021) | Adjustment Item | Adjusted Amount (million Yuan) | Impact | | :--- | :--- | :--- | | Right-of-Use Assets | +162.81 | Asset Increase | | Fixed Assets | -147.03 | Asset Decrease | | Lease Liabilities | +77.93 | Liability Increase | | Long-term Payables | -70.09 | Liability Decrease |