保税科技(600794) - 2023 Q3 - 季度财报

Important Notice Statement by the Board of Directors, Supervisory Board, and Senior Management The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility; the company's principal, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false statements, misleading representations, or major omissions, and assume individual and joint legal responsibility[2] - The company's principal, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[2] Key Financial Data Key Accounting Data and Financial Indicators The company achieved significant financial growth in Q3 2023 and year-to-date, with double-digit increases in operating revenue and net profit attributable to shareholders, alongside steady growth in total assets and equity Key Financial Indicators for Q3 2023 and Year-to-Date | Item | Current Period (Q3 2023) (CNY) | YoY Change (%) | Year-to-Date (YTD 2023) (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 512,423,734.82 | 40.03 | 1,199,539,069.90 | 18.95 | | Net Profit Attributable to Shareholders of Listed Company | 59,124,510.89 | 39.28 | 199,053,709.23 | 52.10 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 60,135,322.82 | 64.65 | 176,114,789.02 | 50.78 | | Net Cash Flow from Operating Activities | Not applicable | Not applicable | 29,767,306.93 | Not applicable | | Basic Earnings Per Share (CNY/share) | 0.05 | 25.00 | 0.16 | 45.45 | | Diluted Earnings Per Share (CNY/share) | 0.05 | 25.00 | 0.16 | 45.45 | | Weighted Average Return on Net Assets (%) | 2.40 | Increase 0.53 percentage points | 8.26 | Increase 2.52 percentage points | | Period-End Indicators | End of Current Period (Sep 30, 2023) (CNY) | Change from Prior Year-End (%) | Prior Year-End (Dec 31, 2022) (CNY) | | | Total Assets | 3,755,982,423.54 | 0.76 | 3,727,797,444.82 | | | Equity Attributable to Shareholders of Listed Company | 2,489,981,489.17 | 6.76 | 2,332,397,480.07 | | Non-Recurring Gains and Losses Items and Amounts During the reporting period, total non-recurring gains and losses were negative CNY 1.01 million, and year-to-date positive CNY 22.94 million, primarily influenced by fair value changes in financial assets and government subsidies Non-Recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (Q3 2023) (CNY) | Amount Year-to-Date (YTD 2023) (CNY) | Notes | | :--- | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -146,389.95 | -601,093.95 | | | Government Grants Recognized in Current Profit/Loss | 766,965.88 | 4,810,580.12 | Mainly income-related subsidies received by Bonded Trade and Changjiang International | | Gains/Losses from Fair Value Changes of Financial Assets and Investment Income | -4,164,003.07 | 18,989,764.34 | Mainly investment income from cash management activities by Shanghai Baogang Fund, Zhangjiagang Fund Company, and Bonded Trade | | Other Non-Operating Income and Expenses | 2,110,938.51 | 1,396,305.87 | | | Less: Income Tax Impact | -430,358.10 | 1,639,944.21 | | | Impact on Minority Interests (After Tax) | 8,681.40 | 16,691.96 | | | Total | -1,010,811.93 | 22,938,920.21 | | Changes and Reasons for Key Accounting Data and Financial Indicators Significant growth in operating revenue and net profit during the reporting period was primarily driven by increased self-operated business revenue from subsidiary Bonded Trade and enhanced efficiency through synergistic development of traditional and smart logistics - Operating revenue for the current period increased by 40.03% year-on-year, mainly due to increased self-operated business revenue from subsidiary Bonded Trade[7] - Net profit attributable to shareholders of the listed company increased by 39.28% year-on-year for the current period and by 52.10% year-to-date[8] - Key reasons for net profit growth include: 1) Traditional logistics business increased cargo acquisition, expanded warehousing categories, and improved resource integration efficiency, leading to significant growth in warehousing revenue; 2) Smart logistics business extended its industry and service chains, expanded service areas and delivery categories, effectively enhancing warehousing operational efficiency and customer service experience, resulting in sustained business revenue growth[8] - Both basic and diluted earnings per share increased by 45.45% year-to-date, primarily due to the increase in net profit attributable to shareholders of the listed company[8] Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 61,493 common shareholders; Zhangjiagang Free Trade Zone Jingang Asset Management Co., Ltd. is the controlling shareholder among the top ten, holding 35.68% - Total number of common shareholders at the end of the reporting period: 61,493[10] Top 10 Shareholders' Holdings (As of End of Reporting Period) | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | | Zhangjiagang Free Trade Zone Jingang Asset Management Co., Ltd. | State-owned Legal Person | 432,517,788 | 35.68 | | Shanghai Shengbang Private Equity Fund Management Co., Ltd. - Gongqingcheng Shengbang Kaimi Investment Partnership (Limited Partnership) | State-owned Legal Person | 93,338,882 | 7.70 | | Shenzhen Qianhai Yihua Investment Co., Ltd. | Unknown | 13,601,686 | 1.12 | | Zhangjiagang Free Trade Zone Technology (Group) Co., Ltd. Repurchase Special Securities Account | Other | 12,000,000 | 0.99 | | Huang Yongyao | Domestic Natural Person | 9,955,464 | 0.82 | | UBS AG | Overseas Legal Person | 5,346,848 | 0.44 | | Ding Liqin | Domestic Natural Person | 3,800,000 | 0.31 | | CITIC Securities Co., Ltd. | State-owned Legal Person | 3,202,573 | 0.26 | | Bank of China Co., Ltd. - Huatai-PineBridge Quality Leading Mixed Securities Investment Fund | Other | 2,914,500 | 0.24 | | Industrial and Commercial Bank of China Co., Ltd. - Guolian Advantage Industry Mixed Securities Investment Fund | Other | 2,798,200 | 0.23 | - Among the company's top 10 shareholders, Zhangjiagang Free Trade Zone Jingang Asset Management Co., Ltd. is the controlling shareholder[11] Other Reminders Other Reminders There are no other significant operating matters requiring special investor attention during the reporting period - No other important information regarding the company's operating performance during the reporting period requires investor attention[12] Quarterly Financial Statements Type of Audit Opinion This quarterly financial report is unaudited - The third-quarter financial statements are unaudited[3][12] Financial Statements Consolidated Balance Sheet As of September 30, 2023, total assets were CNY 3.76 billion, a slight increase of 0.76% from year-end; total current assets were CNY 2.15 billion, non-current assets CNY 1.60 billion; total liabilities were CNY 1.01 billion, and total owner's equity CNY 2.74 billion Key Data from Consolidated Balance Sheet (As of September 30, 2023) | Item | September 30, 2023 (CNY) | December 31, 2022 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,755,982,423.54 | 3,727,797,444.82 | 0.76 | | Total Current Assets | 2,154,881,279.61 | 2,060,218,783.44 | 4.59 | | Total Non-Current Assets | 1,601,101,143.93 | 1,667,578,661.38 | -3.98 | | Total Liabilities | 1,012,938,114.43 | 1,149,011,232.71 | -11.84 | | Total Current Liabilities | 945,711,680.53 | 1,077,042,655.85 | -12.20 | | Total Non-Current Liabilities | 67,226,433.90 | 71,968,576.86 | -6.60 | | Total Equity Attributable to Parent Company Owners | 2,489,981,489.17 | 2,332,397,480.07 | 6.76 | | Total Owners' Equity | 2,743,044,309.11 | 2,578,786,212.11 | 6.37 | - Cash and cash equivalents decreased from CNY 724 million at year-end 2022 to CNY 518 million at September-end 2023[13] - Other receivables significantly increased from CNY 611 million at year-end 2022 to CNY 1.01 billion at September-end 2023[14] - Short-term borrowings increased from CNY 146 million at year-end 2022 to CNY 272 million at September-end 2023[15] Consolidated Income Statement In the first three quarters of 2023, total operating revenue reached CNY 1.20 billion, a 18.95% year-on-year increase; net profit attributable to parent company shareholders was CNY 199 million, up 52.10%, demonstrating strong profitability Key Data from Consolidated Income Statement (First Three Quarters of 2023) | Item | First Three Quarters of 2023 (Jan-Sep) (CNY) | First Three Quarters of 2022 (Jan-Sep) (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,199,539,069.90 | 1,008,451,693.61 | 18.95 | | Total Operating Costs | 973,909,560.45 | 857,179,193.46 | 13.62 | | Operating Profit | 263,455,502.88 | 174,272,504.49 | 51.18 | | Total Profit | 264,851,808.75 | 174,475,186.38 | 51.80 | | Net Profit | 212,836,809.47 | 138,772,985.15 | 53.37 | | Net Profit Attributable to Parent Company Shareholders | 199,053,709.23 | 130,868,407.73 | 52.10 | | Basic Earnings Per Share (CNY/share) | 0.16 | 0.11 | 45.45 | | Diluted Earnings Per Share (CNY/share) | 0.16 | 0.11 | 45.45 | - Administrative expenses significantly increased from CNY 48.18 million in the first three quarters of 2022 to CNY 82.97 million in the first three quarters of 2023[18] - Financial expenses decreased from CNY 22.37 million in the first three quarters of 2022 to CNY 11.61 million in the first three quarters of 2023, primarily due to reduced interest expenses[18] - Investment income decreased from CNY 48.28 million in the first three quarters of 2022 to CNY 23.78 million in the first three quarters of 2023[20] - Fair value change gains/losses narrowed significantly from a loss of CNY 34.23 million to a loss of CNY 1.42 million[20] - Credit impairment losses shifted from a loss of CNY 1.24 million to a gain of CNY 7.21 million, positively impacting profit[20] Consolidated Cash Flow Statement In the first three quarters of 2023, net cash flow from operating activities was CNY 29.76 million, a significant decrease from CNY 441 million in the prior year; net cash flow from investing activities turned positive, while financing activities turned negative, indicating a shift in the company's cash flow structure Key Data from Consolidated Cash Flow Statement (First Three Quarters of 2023) | Item | First Three Quarters of 2023 (Jan-Sep) (CNY) | First Three Quarters of 2022 (Jan-Sep) (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 29,767,306.93 | 440,643,902.12 | | Net Cash Flow from Investing Activities | 121,336,819.66 | -249,435,706.48 | | Net Cash Flow from Financing Activities | -349,048,693.37 | 32,127,576.34 | | Net Increase in Cash and Cash Equivalents | -197,734,599.95 | 223,557,603.48 | | Cash and Cash Equivalents at Period End | 499,001,415.58 | 552,485,688.00 | - Subtotal cash inflow from operating activities decreased year-on-year, primarily due to a significant reduction in cash received related to other operating activities[22] - Subtotal cash inflow from investing activities significantly increased, mainly due to a substantial increase in cash received from investment recovery[23] - Subtotal cash outflow from financing activities significantly increased, primarily due to increased cash paid for debt repayment[23] Explanation of Adjustments for First-Time Adoption of New Accounting Standards Effective 2023, the company first adopted the accounting treatment for deferred income tax related to assets and liabilities arising from a single transaction, as per Ministry of Finance's 'Interpretation No. 16 of Accounting Standards for Business Enterprises,' resulting in a CNY 12.31 million increase in deferred income tax assets, liabilities, and total assets and liabilities as of January 1, 2023 - Effective 2023, the company first adopted 'Interpretation No. 16 of Accounting Standards for Business Enterprises,' issued by the Ministry of Finance in 2022, concerning deferred income tax accounting for assets and liabilities arising from a single transaction[24] Impact of First-Time Adoption of New Accounting Standards (January 1, 2023) | Item | December 31, 2022 (CNY) | January 1, 2023 (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Deferred Income Tax Assets | 13,637,049.16 | 25,944,681.16 | 12,307,632.00 | | Total Non-Current Assets | 1,667,578,661.38 | 1,679,886,293.38 | 12,307,632.00 | | Total Assets | 3,727,797,444.82 | 3,740,105,076.82 | 12,307,632.00 | | Deferred Income Tax Liabilities | 12,109,893.29 | 24,417,525.29 | 12,307,632.00 | | Total Non-Current Liabilities | 71,968,576.86 | 84,276,208.86 | 12,307,632.00 | | Total Liabilities | 1,149,011,232.71 | 1,161,318,864.71 | 12,307,632.00 | - The adjustment resulted in an increase of CNY 12,307,632.00 in deferred income tax assets, total non-current assets, total assets, deferred income tax liabilities, total non-current liabilities, and total liabilities as of January 1, 2023[27][28]