Luxin Co.,(SH:600783)2022-10-28 16:00Key Financial Data and Operating Performance This section details the company's core financial indicators, non-recurring gains and losses, and provides an analysis of significant financial metric changes Core Financial Indicators In Q3 2022, the company experienced a significant net loss, while year-to-date net profit, though positive, saw a substantial decline, primarily due to fair value changes Core Financial Indicators for Q3 and YTD 2022 | Indicator | Current Reporting Period (Q3) | YoY Change for Current Period | Year-to-Date (YTD) | YoY Change for YTD | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 21.67 million yuan | -29.45% | 72.74 million yuan | -16.77% | | Investment Income | 43.54 million yuan | -46.44% | 405.32 million yuan | 120.18% | | Gains/Losses from Changes in Fair Value | -162.02 million yuan | N/A | -210.66 million yuan | -258.19% | | Net Profit Attributable to Shareholders | -125.29 million yuan | -1,670.79% | 41.91 million yuan | -79.71% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items | -126.00 million yuan | -1,743.76% | 35.38 million yuan | -82.83% | | Basic Earnings Per Share (yuan) | -0.16 | -1,700.00% | 0.06 | -78.57% | | Weighted Average Return on Net Assets | -3.00% | decreased by 3.21 percentage points | 1.00% | decreased by 4.44 percentage points | Key Balance Sheet Indicators (As of September 30, 2022) | Indicator | Period-End Balance (billion yuan) | Change from Prior Year-End | | :--- | :--- | :--- | | Total Assets | 8.15 | 13.78% | | Total Equity Attributable to Shareholders of the Listed Company | 4.15 | -1.15% | Non-Recurring Gains and Losses The company classifies certain investment-related gains and losses as recurring due to its primary business, with actual non-recurring items totaling 6.53 million yuan year-to-date - The company explicitly states that gains from disposal of equity investments and fair value changes are considered normal operating gains and losses, not non-recurring items, due to its primary business of investment management9 Non-Recurring Gains and Losses Items for Q1-Q3 2022 | Item | Year-to-Date Amount (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 317,063.29 | | Government Grants | 168,772.33 | | Gains/Losses from Entrusted Loans | 867,264.15 | | Other Non-Operating Income and Expenses | 6,136,852.15 | | Total | 6,532,482.89 | Analysis of Financial Indicator Changes Significant fluctuations in financial indicators are attributed to increased investment income from asset disposal, offset by declines in net profit and fair value changes due to market volatility - Year-to-date investment income increased by 120.18%, primarily due to disposal gains from transferring Xinfengguang shares and re-measurement of remaining equity at fair value12 - Fair value change gains/losses, net profit, and earnings per share significantly declined in Q3 and year-to-date, mainly due to the decreased value of the company's securities holdings impacted by secondary market fluctuations12 - A decrease in investment income accounted for under the equity method also contributed to the decline in Q3 investment income and net profit12 Shareholder Information This section provides an overview of the company's shareholder structure, including the total number of shareholders and major holdings Major Shareholder Holdings As of the reporting period end, the company had 33,129 common shareholders, with the controlling shareholder holding a concentrated 69.57% stake - As of the reporting period end, the company had 33,129 common shareholders16 - The controlling shareholder, Shandong Luxin Investment Holdings Group Co., Ltd., holds a combined 69.57% stake through direct ownership (52.01%) and a targeted asset management plan (17.56%)1618 Top Five Shareholder Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Holding Percentage (%) | | :--- | :--- | :--- | :--- | | Shandong Luxin Investment Holdings Group Co., Ltd. | State-Owned Legal Entity | 517,861,877 | 69.57 | | Yao Yonghai | Domestic Natural Person | 4,686,789 | 0.63 | | Zhuang Jingping | Domestic Natural Person | 3,618,228 | 0.49 | | Wen Zhiyong | Domestic Natural Person | 2,334,700 | 0.31 | | Liu Chen | Domestic Natural Person | 1,873,987 | 0.25 | Quarterly Financial Statements This section presents the company's consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements Consolidated Financial Statements Consolidated statements show total assets increased to 8.15 billion yuan, total liabilities rose significantly, and net profit sharply declined year-to-date, despite improved investment cash flow Consolidated Balance Sheet As of September 30, 2022, total assets reached 8.15 billion yuan, driven by increased cash and financial assets, while total liabilities grew significantly to 3.96 billion yuan Key Consolidated Balance Sheet Items (Unit: Billion Yuan) | Item | September 30, 2022 | December 31, 2021 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1.10 | 0.37 | +0.74 | | Financial Assets Held for Trading | 1.16 | 0.95 | +0.21 | | Long-Term Equity Investments | 1.79 | 2.01 | -0.22 | | Total Assets | 8.15 | 7.16 | +13.78% | | Bonds Payable | 2.65 | 2.07 | +0.58 | | Total Liabilities | 3.96 | 2.90 | +36.61% | | Total Equity Attributable to Shareholders of the Listed Company | 4.15 | 4.19 | -1.15% | Consolidated Income Statement For the first three quarters of 2022, consolidated operating revenue decreased, and despite a surge in investment income, a substantial fair value loss led to a sharp 79.71% decline in net profit Key Consolidated Income Statement Items (Q1-Q3 2022) | Item | Jan-Sep 2022 (yuan) | Jan-Sep 2021 (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 72,741,389.81 | 87,401,596.57 | -16.77% | | Investment Income | 405,315,980.53 | 184,085,789.47 | +120.18% | | Gains/Losses from Changes in Fair Value | -210,660,163.16 | 133,167,291.22 | -258.19% | | Operating Profit | 44,043,960.97 | 209,055,918.34 | -78.93% | | Net Profit Attributable to Shareholders | 41,914,073.85 | 206,624,034.89 | -79.71% | | Basic Earnings Per Share (yuan) | 0.06 | 0.28 | -78.57% | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities was negative, while investing activities turned positive, and financing activities saw a significant increase, leading to a substantial rise in cash and equivalents Consolidated Cash Flow Statement Summary (Q1-Q3 2022) | Item | Jan-Sep 2022 (yuan) | Jan-Sep 2021 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -149,486,176.89 | -60,416,731.34 | | Net Cash Flow from Investing Activities | 34,888,164.86 | -240,043,359.49 | | Net Cash Flow from Financing Activities | 760,901,804.50 | 193,411,265.17 | | Net Increase in Cash and Cash Equivalents | 649,581,390.45 | -108,117,352.85 | Parent Company Financial Statements The parent company reported a net loss of 106 million yuan for the first three quarters, primarily due to negative investment income and fair value losses, despite positive operating cash flow Parent Company Balance Sheet As of September 30, 2022, the parent company's total assets increased to 5.60 billion yuan, total liabilities rose to 3.15 billion yuan, and owner's equity decreased Key Parent Company Balance Sheet Items (Unit: Billion Yuan) | Item | September 30, 2022 | December 31, 2021 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 5.60 | 5.10 | +9.77% | | Total Liabilities | 3.15 | 2.46 | +28.48% | | Owner's Equity | 2.44 | 2.64 | -7.60% | Parent Company Income Statement For the first three quarters of 2022, the parent company's operating revenue slightly increased, but negative investment income and significant fair value losses resulted in a net loss of 106 million yuan Key Parent Company Income Statement Items (Q1-Q3 2022) | Item | Jan-Sep 2022 (yuan) | Jan-Sep 2021 (yuan) | | :--- | :--- | :--- | | Operating Revenue | 27,160,356.51 | 25,100,275.38 | | Investment Income | -5,228,204.71 | 16,708,014.54 | | Gains/Losses from Changes in Fair Value | -56,429,348.84 | 176,238,350.06 | | Operating Profit | -124,187,154.63 | 113,227,035.18 | | Net Profit | -105,909,496.01 | 113,208,193.10 | Parent Company Cash Flow Statement In the first three quarters of 2022, the parent company generated positive cash flow from operations, significantly reduced cash outflow from investing activities, and saw increased cash inflow from financing activities Parent Company Cash Flow Statement Summary (Q1-Q3 2022) | Item | Jan-Sep 2022 (yuan) | Jan-Sep 2021 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 17,480,845.50 | 2,919,675.49 | | Net Cash Flow from Investing Activities | -53,300,508.77 | -328,238,372.54 | | Net Cash Flow from Financing Activities | 231,608,618.68 | 405,640,913.13 | | Net Increase in Cash and Cash Equivalents | 195,788,955.41 | 80,322,216.08 |