LJRB(SH:600853)2022-10-28 16:00Major Financial Data Key Accounting Data and Financial Indicators The company's first three quarters of 2022 saw CNY 11.36 billion in revenue and CNY 164 million in net profit, with total assets growing 13.85% to CNY 30.31 billion Key Financial Indicators for Q1-Q3 and Q3 2022 | Indicator | Year-to-Date (Jan-Sep) (CNY) | YoY Change (%) | Current Period (Q3) (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 11,360,708,878.25 | 2.67 | 5,509,015,519.92 | -6.82 | | Net Profit Attributable to Shareholders of the Listed Company | 164,382,033.58 | 12.65 | 111,334,722.09 | 1.27 | | Net Profit Attributable to Shareholders of the Listed Company (Excluding Non-recurring Gains and Losses) | 155,101,591.88 | 12.43 | 107,080,016.70 | -1.40 | | Net Cash Flow from Operating Activities | -2,700,252,746.87 | Not Applicable | -433,488,528.16 | Not Applicable | Key Balance Sheet Indicators at Period-End | Indicator | As of Period-End (CNY) | As of Prior Year-End (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 30,307,723,690.08 | 26,620,643,935.49 | 13.85 | | Total Equity Attributable to Shareholders of the Listed Company | 2,489,969,660.00 | 2,348,875,280.54 | 6.01 | Non-recurring Gains and Losses and Amounts In the first three quarters of 2022, the company's total non-recurring gains and losses amounted to CNY 9.28 million, primarily from government grants recognized in current profit or loss Details of Non-recurring Gains and Losses (Year-to-Date) | Item | Amount (CNY) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 387,748.70 | | Government grants recognized in current profit or loss | 11,942,181.96 | | Other non-operating income and expenses apart from the above | -88,585.56 | | Less: Income tax impact | 2,085,646.17 | | Less: Impact on minority interests (after tax) | 875,257.23 | | Total | 9,280,441.70 | Explanation of Changes in Key Accounting Data and Financial Indicators During the reporting period, several balance sheet items saw significant changes, including prepayments increasing by 211.19% due to bulk material purchases and long-term payables surging 577.75% from government subsidies Major Balance Sheet Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Prepayments | 211.19 | Increased procurement of bulk materials through prepayment methods | | Contract Assets | 61.94 | Due to performance obligations fulfilled but not yet confirmed by customers | | Investments in Other Equity Instruments | 433.90 | Due to capital contributions to participating PPP projects as agreed | | Intangible Assets | 37.69 | Due to an increase in "intangible asset model" PPP projects this year | | Long-term Payables | 577.75 | Due to the receipt of government vehicle purchase tax subsidies by affiliated companies | Shareholder Information Shareholding Status As of the period-end, the company had 55,907 common shareholders, with the controlling shareholder, Heilongjiang Construction Investment Group Co., Ltd., holding 44.01% and no pledges or freezes among the top ten shareholders - Total common shareholders at period-end numbered 55,90711 Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Type | Shareholding Percentage (%) | | :--- | :--- | :--- | | Heilongjiang Construction Investment Group Co., Ltd. | State-owned Legal Person | 44.01 | | JPMORGAN CHASE BANK,NATIONAL ASSOCIATION | Overseas Legal Person | 0.48 | | He Anzhi | Domestic Natural Person | 0.37 | | Xie Wenjuan | Domestic Natural Person | 0.35 | | Chen Wensheng | Domestic Natural Person | 0.26 | | Huatai Securities Co., Ltd. | State-owned Legal Person | 0.25 | | Ping An Securities Co., Ltd. | Domestic Non-state-owned Legal Person | 0.22 | | CITIC Securities Co., Ltd. | State-owned Legal Person | 0.21 | | Everbright Securities Co., Ltd. | State-owned Legal Person | 0.21 | | Meng Yajun | Domestic Natural Person | 0.21 | Other Reminders Significant Information on Operating Performance During the reporting period, the company achieved several business milestones, including obtaining full-sequence national highway maintenance qualifications, contributing to rural revitalization, and receiving ongoing payments for the Mongolia 167km project despite exchange rate differences - The company and its subsidiaries obtained the first batch of full-sequence national general highway maintenance qualifications in Heilongjiang Province, enabling expansion into the national market13 - The company's 'Pioneering the Era, Assisting Rural Revitalization' case was selected as an outstanding practice case by the China Association for Public Companies, highlighting its social responsibility contributions14 - The Mongolia 167km project had CNY 210 million in investment repayments due in 2022, with approximately CNY 172 million received by period-end, primarily due to exchange rate fluctuations and pending project settlement approvals1617 Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets reached CNY 30.31 billion, up 13.85% from the beginning of the year, with total liabilities at CNY 26.14 billion, increasing 15.73%, resulting in a liability ratio of 86.25% Key Items from Consolidated Balance Sheet | Item | September 30, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 3,903,623,554.28 | 5,359,731,223.16 | -27.17 | | Accounts Receivable | 4,176,705,697.92 | 4,043,555,931.14 | 3.29 | | Contract Assets | 4,246,716,195.39 | 2,622,354,112.45 | 61.94 | | Total Assets | 30,307,723,690.08 | 26,620,643,935.49 | 13.85 | | Short-term Borrowings | 3,318,980,366.62 | 2,803,111,168.23 | 18.40 | | Long-term Borrowings | 8,864,529,173.14 | 6,860,139,009.16 | 29.22 | | Total Liabilities | 26,141,125,844.35 | 22,588,252,753.81 | 15.73 | | Total Equity Attributable to Parent Company Shareholders | 2,489,969,660.00 | 2,348,875,280.54 | 6.01 | Consolidated Income Statement In the first three quarters of 2022, the company's total operating revenue was CNY 11.36 billion, up 2.67%, with net profit attributable to the parent company increasing 12.65% to CNY 164 million, driven by cost control and improved investment income Key Items from Consolidated Income Statement (Q1-Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 11,360,708,878.25 | 11,065,407,635.77 | 2.67 | | Operating Costs | 10,112,148,720.45 | 9,767,724,389.95 | 3.53 | | Research and Development Expenses | 341,642,811.87 | 451,759,879.23 | -24.38 | | Financial Expenses | 319,906,205.96 | 232,988,252.98 | 37.31 | | Operating Profit | 220,591,168.23 | 231,744,098.93 | -4.81 | | Net Profit Attributable to Parent Company Shareholders | 164,382,033.58 | 145,921,810.05 | 12.65 | | Basic Earnings Per Share (CNY/share) | 0.16 | 0.1452 | 10.19 | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities was a negative CNY 2.70 billion, indicating significant collection pressure, while investing activities resulted in a net outflow of CNY 807 million, and financing activities provided a net inflow of CNY 1.91 billion Key Items from Consolidated Cash Flow Statement (Q1-Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -2,700,252,746.87 | -2,372,374,075.77 | | Net Cash Flow from Investing Activities | -806,528,958.52 | -590,174,064.66 | | Net Cash Flow from Financing Activities | 1,912,683,287.65 | 2,262,183,535.24 | | Net Increase in Cash and Cash Equivalents | -1,594,098,417.74 | -700,364,605.19 | | Cash and Cash Equivalents at Period-End | 3,297,273,988.55 | 3,832,586,302.42 | Parent Company Financial Statements Parent Company Balance Sheet As of September 30, 2022, the parent company's total assets were CNY 17.46 billion, a slight 2.46% increase from year-start, with total liabilities at CNY 15.73 billion, resulting in a high liability ratio of 90.09% Key Items from Parent Company Balance Sheet | Item | September 30, 2022 (CNY) | December 31, 2021 (CNY) | | :--- | :--- | :--- | | Total Assets | 17,460,313,894.82 | 17,040,618,068.30 | | Total Liabilities | 15,729,477,720.87 | 15,332,004,555.92 | | Total Owners' Equity | 1,730,836,173.95 | 1,708,613,512.38 | Parent Company Income Statement In the first three quarters of 2022, the parent company's operating revenue was CNY 6.27 billion, largely flat year-on-year, while net profit increased by 20.70% to CNY 49.24 million Key Items from Parent Company Income Statement (Q1-Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 6,269,232,320.69 | 6,248,655,967.79 | | Operating Profit | 64,437,711.12 | 57,682,198.25 | | Net Profit | 49,242,824.39 | 40,798,587.57 | Parent Company Cash Flow Statement In the first three quarters of 2022, the parent company's net cash flow from operating activities significantly deteriorated to a negative CNY 1.68 billion, while financing activities provided a net inflow of CNY 763 million Key Items from Parent Company Cash Flow Statement (Q1-Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,676,688,255.63 | 48,702,891.96 | | Net Cash Flow from Investing Activities | -214,589,046.59 | -594,600,487.87 | | Net Cash Flow from Financing Activities | 763,031,713.71 | 510,541,218.25 | | Net Increase in Cash and Cash Equivalents | -1,128,245,588.51 | -35,356,377.66 |