江苏索普(600746) - 2022 Q1 - 季度财报

Important Notice This is the unaudited Q1 2022 report, with management affirming the content's authenticity, accuracy, and completeness - The financial statements for this quarter are unaudited[6] - The Board of Directors, Supervisory Committee, and senior management guarantee the authenticity, accuracy, and completeness of the quarterly report and assume legal responsibility[4] I. Key Financial Data The company's Q1 2022 revenue grew, while net profit and EPS declined, alongside growth in total assets and equity (I) Key Accounting Data and Financial Indicators Revenue grew significantly this period, though net profit and EPS declined, while total assets and equity increased | Item | Current Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 2,072,792,082.97 | 23.44 | | Net Profit Attributable to Shareholders | 407,578,365.54 | -25.30 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 405,018,166.84 | -25.67 | | Net Cash Flow from Operating Activities | 354,075,789.49 | -17.06 | | Basic Earnings Per Share (CNY/Share) | 0.3490 | -32.94 | | Weighted Average Return on Equity (%) | 6.42 | Decrease of 10.52 percentage points | | | Current Period-End Amount (CNY) | Prior Year-End Amount (CNY) | Period-over-Period Change (%) | | Total Assets | 7,516,205,168.41 | 7,095,189,850.62 | 5.93 | | Equity Attributable to Shareholders | 6,559,078,154.49 | 6,147,438,878.09 | 6.70 | (II) Non-recurring Gains and Losses Non-recurring items for the period totaled CNY 2.56 million, primarily from fair value changes and government grants | Item | Current Period Amount (CNY) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -54,705.20 | | Government Grants Recognized in Current Profit or Loss | 748,709.26 | | Fair Value Change Gain/Loss and Investment Income from Financial Assets | 3,705,920.68 | | Other Non-operating Income and Expenses | -1,406,021.51 | | Less: Income Tax Impact | 433,704.53 | | Total | 2,560,198.70 | (III) Analysis of Major Changes in Key Financial Data and Indicators Basic earnings per share decreased by 32.94% year-over-year, primarily due to a reduction in net profit - Basic earnings per share decreased by 32.94%, mainly due to the decline in net profit during the reporting period[11] II. Shareholder Information The company had 60,754 common shareholders, with the controlling shareholder holding 74.24% and having significant share pledges (I) Total Common Shareholders and Top Ten Shareholders' Holdings The company had 60,754 common shareholders, with the controlling shareholder pledging 200 million shares as collateral - At the end of the reporting period, the total number of common shareholders was 60,754[12] - The controlling shareholder, Jiangsu Sopo (Group) Co, Ltd, pledged 175,000,000 unrestricted shares as collateral for the issuance of exchangeable corporate bonds[17] | Shareholder Name | Shareholder Type | Number of Shares Held | Shareholding Ratio (%) | Number of Restricted Shares | Share Status | Pledged or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Sopo (Group) Co, Ltd | State-owned Legal Entity | 866,998,052 | 74.24 | 691,925,810 | Pledged | 200,000,000 | | Zhenjiang State-owned Investment Holding Group Co, Ltd | State-owned Legal Entity | 56,918,238 | 4.87 | 50,000,000 | None | | | Huian Fund - Huaneng Trust · Yueying No 17 Single Fund Trust - Huian Fund Huixin No 56 Single Asset Management Plan | Domestic Non-state-owned Legal Entity | 3,270,221 | 0.28 | 0 | None | | | He Donghai | Domestic Natural Person | 2,424,091 | 0.21 | 0 | None | | | China Orient Asset Management Co, Ltd | State-owned Legal Entity | 1,760,537 | 0.15 | 1,760,537 | None | | | Ma Mengqing | Domestic Natural Person | 1,088,778 | 0.09 | 0 | None | | | Liu Zhonghua | Domestic Natural Person | 951,500 | 0.08 | 0 | None | | | Zhan Tao | Domestic Natural Person | 747,000 | 0.06 | 0 | None | | | Mo Jihong | Domestic Natural Person | 725,008 | 0.06 | 0 | None | | | Caitong Fund - Luzhou Puxin Equity Investment Fund Partnership (LP) - Caitong Fund Puxin No 3 Single Asset Management Plan | Domestic Non-state-owned Legal Entity | 693,069 | 0.06 | 0 | None | | III. Other Significant Matters There were no other significant operational matters requiring special attention from investors during this period - No other significant operational information requires investor attention for the reporting period[18] IV. Quarterly Financial Statements This section presents the detailed Q1 2022 consolidated and parent company financial statements (I) Audit Opinion Type The quarterly financial statements are unaudited - The financial statements for this quarter are unaudited[18] (II) Financial Statements This section contains the consolidated and parent company balance sheets, income statements, and cash flow statements Consolidated Balance Sheet Total consolidated assets reached CNY 7.52 billion, a 5.93% increase from year-end, driven by growth in financial assets | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,341,457,437.82 | 1,675,453,928.07 | -19.93 | | Trading Financial Assets | 902,946,575.34 | 350,497,764.28 | 157.63 | | Accounts Receivable | 128,997,968.89 | 68,314,734.49 | 88.83 | | Prepayments | 415,341,748.67 | 96,480,436.42 | 330.50 | | Inventories | 396,233,529.28 | 613,423,071.51 | -35.39 | | Total Current Assets | 3,664,428,699.27 | 3,292,392,293.92 | 11.29 | | Fixed Assets | 2,423,629,201.95 | 2,409,931,115.23 | 0.57 | | Construction in Progress | 672,685,739.23 | 587,507,630.00 | 14.49 | | Intangible Assets | 590,073,428.50 | 519,091,834.31 | 13.67 | | Total Non-current Assets | 3,851,776,469.14 | 3,802,797,556.70 | 1.29 | | Total Assets | 7,516,205,168.41 | 7,095,189,850.62 | 5.93 | | Contract Liabilities | 228,056,014.57 | 153,178,968.36 | 48.88 | | Employee Benefits Payable | 12,722,240.36 | 49,377,132.00 | -74.24 | | Total Current Liabilities | 801,166,854.94 | 788,015,670.51 | 1.67 | | Total Liabilities | 957,127,013.92 | 947,750,972.53 | 0.99 | | Total Equity Attributable to Parent Company | 6,559,078,154.49 | 6,147,438,878.09 | 6.70 | Consolidated Income Statement Q1 2022 revenue grew 23.44% YoY, but higher costs led to a decline in operating profit and net profit | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,072,792,082.97 | 1,679,184,099.46 | 23.44 | | Total Operating Costs | 1,591,678,480.51 | 1,037,466,559.20 | 53.44 | | Cost of Sales | 1,474,950,564.21 | 953,158,988.90 | 54.75 | | Selling Expenses | 3,340,163.06 | 2,223,484.56 | 50.23 | | Administrative Expenses | 40,136,303.13 | 22,802,985.88 | 76.01 | | R&D Expenses | 65,009,265.55 | 44,433,452.51 | 46.31 | | Financial Expenses | -5,840,468.01 | 604,188.88 | -1067.76 | | Of which: Interest Income | 10,383,458.64 | 747,122.23 | 1289.76 | | Operating Profit | 484,439,937.11 | 641,760,365.76 | -24.49 | | Total Profit | 482,979,210.40 | 641,893,447.17 | -24.76 | | Net Profit | 407,578,365.54 | 545,609,430.10 | -25.30 | | Basic Earnings Per Share (CNY/Share) | 0.3490 | 0.5204 | -32.94 | Consolidated Cash Flow Statement Net operating cash flow decreased 17.06% YoY, with a significant increase in cash outflows from investing activities | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 354,075,789.49 | 426,918,733.01 | -17.06 | | Cash Received from Sales of Goods and Services | 1,896,681,634.05 | 1,321,536,438.07 | 43.52 | | Cash Paid for Goods and Services | 1,311,924,953.66 | 772,545,906.02 | 69.82 | | Cash Paid to and for Employees | 117,365,390.01 | 65,156,108.38 | 80.13 | | Net Cash Flow from Investing Activities | -454,419,953.24 | -190,247,874.47 | -138.86 | | Cash Paid for Investments | 1,332,696,400.00 | 140,500,000.00 | 848.54 | | Net Cash Flow from Financing Activities | -8,439,432.98 | 843,287,301.22 | -100.00 | | Cash Paid for Debt Repayment | 4,550,000.00 | 148,000,000.00 | -96.93 | | Net Increase in Cash and Cash Equivalents | -109,129,244.68 | 1,080,361,082.86 | -110.10 | Parent Company Balance Sheet The parent company's total assets grew to CNY 7.06 billion, up 5.82% from year-end, with a notable rise in long-term equity investments | Item | March 31, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,229,860,187.12 | 1,624,699,620.05 | -24.30 | | Trading Financial Assets | 902,946,575.34 | 350,497,764.28 | 157.63 | | Accounts Receivable | 78,741,492.22 | 45,034,361.47 | 74.84 | | Prepayments | 401,108,108.18 | 92,529,673.99 | 333.50 | | Inventories | 339,639,994.24 | 559,570,523.24 | -39.31 | | Total Current Assets | 3,314,618,416.81 | 3,056,619,610.89 | 8.44 | | Long-term Equity Investments | 961,633,575.98 | 735,780,796.31 | 30.70 | | Fixed Assets | 1,807,260,142.80 | 1,860,789,844.47 | -2.98 | | Construction in Progress | 653,753,797.77 | 574,706,569.05 | 13.75 | | Total Non-current Assets | 3,747,044,810.31 | 3,616,321,900.21 | 3.62 | | Total Assets | 7,061,663,227.12 | 6,672,941,511.10 | 5.82 | | Contract Liabilities | 191,023,338.27 | 127,088,869.95 | 50.31 | | Employee Benefits Payable | 4,486,428.63 | 36,284,828.19 | -87.63 | | Total Current Liabilities | 542,411,395.29 | 539,080,261.43 | 0.62 | | Total Liabilities | 578,272,914.65 | 575,165,212.02 | 0.54 | | Total Equity | 6,483,390,312.47 | 6,097,776,299.08 | 6.32 | Parent Company Income Statement The parent company's revenue remained stable, but rising costs led to a 29.70% YoY decrease in operating profit | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,714,190,820.41 | 1,679,184,099.46 | 2.08 | | Cost of Sales | 1,164,111,395.15 | 953,158,988.90 | 22.14 | | Selling Expenses | 2,862,103.99 | 2,223,484.56 | 28.72 | | Administrative Expenses | 30,841,576.26 | 22,802,985.88 | 35.25 | | R&D Expenses | 65,009,265.55 | 44,433,452.51 | 46.31 | | Financial Expenses | -8,526,442.65 | 604,188.88 | -1519.00 | | Of which: Interest Income | 10,192,541.33 | 747,122.23 | 1264.34 | | Operating Profit | 451,142,555.23 | 641,760,365.76 | -29.70 | | Total Profit | 449,857,042.14 | 641,893,447.17 | -29.92 | | Net Profit | 382,371,706.55 | 545,609,430.10 | -29.92 | Parent Company Cash Flow Statement The parent company's net operating cash flow fell 21.20% YoY, with a significant increase in cash used for investments | Item | Q1 2022 (CNY) | Q1 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 336,502,411.99 | 426,918,733.01 | -21.20 | | Cash Received from Sales of Goods and Services | 1,650,984,524.32 | 1,321,536,438.07 | 24.93 | | Cash Paid for Goods and Services | 1,128,449,802.04 | 772,545,906.02 | 46.07 | | Cash Paid to and for Employees | 89,556,098.23 | 65,156,108.38 | 37.45 | | Net Cash Flow from Investing Activities | -505,704,759.23 | -190,247,874.47 | -165.81 | | Cash Paid for Investments | 1,387,696,400.00 | 140,500,000.00 | 887.68 | | Net Cash Flow from Financing Activities | -1,164,712.36 | 843,287,301.22 | -100.14 | | Net Increase in Cash and Cash Equivalents | -170,712,722.36 | 1,080,361,082.86 | -115.80 | Appendix This section details the company's first-time adoption of new accounting standards starting in 2022 - The company adopted new accounting standards in 2022, with no related financial statement adjustments in this reporting period[55]