博瑞传播(600880) - 2021 Q3 - 季度财报

Key Content Highlights The board and management guarantee the quarterly report's accuracy and completeness, noting the financial statements are unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report[2] - The quarterly financial statements are unaudited[3] Major Financial Data This section details major accounting data, financial indicators, non-recurring gains and losses, and explains key financial data changes Major Accounting Data and Financial Indicators The company achieved significant operating revenue growth in Q3 and YTD 2021, with Q3 net profit attributable to parent company shareholders decreasing, YTD slightly increasing, and negative YTD operating cash flow Major Accounting Data and Financial Indicators Overview | Project | Current Reporting Period (Q3 2021) (CNY) | Percentage Change from Same Period Last Year (%) | Year-to-Date (YTD 2021) (CNY) | Percentage Change from Same Period Last Year (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 162,356,885.10 | 54.82 | 453,978,594.73 | 64.06 | | Net Profit Attributable to Parent Company Shareholders | 21,754,040.95 | -14.59 | 56,803,305.96 | 1.76 | | Net Profit Attributable to Parent Company Shareholders Excluding Non-Recurring Gains and Losses | 20,718,509.71 | -15.78 | 53,254,185.87 | -7.70 | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | -22,835,182.13 | -204.92 | | Basic Earnings Per Share (CNY/share) | 0.0199 | -14.59 | 0.0520 | 1.76 | | Diluted Earnings Per Share (CNY/share) | 0.0199 | -14.59 | 0.0520 | 1.76 | | Weighted Average Return on Net Assets (%) | 0.74 | Decreased by 0.14 percentage points | 1.93 | 0.00 | | Total Operating Revenue | 177,758,773.43 | 50.65 | 495,301,168.53 | 57.52 | | End of Current Reporting Period | | | End of Last Fiscal Year | Percentage Change from End of Last Fiscal Year (%) | | Total Assets | 3,567,144,061.43 | | 3,553,964,126.36 | 0.37 | | Total Equity Attributable to Parent Company Shareholders | 2,961,926,230.84 | | 2,929,148,479.82 | 1.12 | Non-Recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled CNY 1.04 million for the current period and CNY 3.55 million year-to-date, mainly from government subsidies and funds occupancy fees Non-Recurring Gains and Losses Items and Amounts | Project | Amount for Current Reporting Period (CNY) | Amount Year-to-Date (CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 2,700.00 | -88,537.62 | | Government Subsidies Included in Current Period P&L | 2,136,611.86 | 3,953,884.49 | | Funds Occupancy Fees Collected from Non-Financial Enterprises Included in Current Period P&L | | 228,190.36 | | Other Non-Operating Income and Expenses Apart from the Above | -111,711.28 | -259,620.32 | | Other Profit and Loss Items Meeting the Definition of Non-Recurring Gains and Losses | | 1,935,054.20 | | Less: Income Tax Impact | -261,303.16 | -951,715.27 | | Impact on Minority Interests (After Tax) | -730,766.18 | -1,268,135.75 | | Total | 1,035,531.24 | 3,549,120.09 | Changes and Reasons for Major Accounting Data and Financial Indicators Revenue growth is due to consolidation changes from an acquisition; operating cash flow declined due to increased loans; Q3 net profit decreased, while YTD slightly increased, influenced by the epidemic, revenue structure, and prior year policies - Operating revenue and total operating revenue significantly increased (by 54.82% and 50.65% respectively for the current period; by 64.06% and 57.52% respectively year-to-date), primarily due to a change in consolidation scope following the acquisition of 60% equity in Sichuan Shengxue Education Technology Co., Ltd. at the end of last year[9] - Net cash flow from operating activities decreased by 204.92% year-to-date, mainly due to an increase in net customer loans and advances from Borui Microfinance compared to the previous period[9] - Net profit attributable to parent company shareholders decreased by 14.59% in the current period, primarily because business activities heavily impacted by the epidemic in Q1 and Q2 of the previous year were concentrated and released in Q3[9] - Net profit attributable to parent company shareholders increased by 1.76% year-to-date, with revenue growth exceeding profit growth, mainly due to the significant increase in revenue from the expanded consolidation scope, changes in revenue structure, and the impact of preferential policies during the epidemic in the prior year, which led to lower related costs and expenses in the prior period compared to the current period[9] Shareholder Information This section discloses the total common shareholders, top ten shareholders' holdings and relationships, and details some shareholders' participation in margin trading and securities lending Total Number of Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the reporting period end, the company had 49,638 common shareholders; top two are state-owned entities Chengdu Borui Investment and Chengdu Media Group, holding 23.37% and 12.16% respectively, with Chengdu Media Group as controlling shareholder and acting in concert - The total number of common shareholders at the end of the reporting period was 49,638[11] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Number of Shares with Restricted Conditions (shares) | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Chengdu Borui Investment Holding Group Co., Ltd. | State-owned Legal Person | 255,519,676 | 23.37 | 0 | None 0 | | Chengdu Media Group | State-owned Legal Person | 132,966,737 | 12.16 | 0 | None 0 | | E Fund Management Co., Ltd. - Central Huijin Asset Management Co., Ltd. - E Fund Management Co., Ltd. - Huijin Asset Management Single Asset Management Plan | Unknown | 16,853,900 | 1.54 | 0 | Unknown | | Chen Changzhi | Domestic Natural Person | 9,356,600 | 0.86 | 0 | Unknown | | Wu Bin | Unknown | 8,287,568 | 0.76 | 0 | Unknown | | Wang Linbing | Unknown | 5,112,562 | 0.47 | 0 | Unknown | | Tianjin Shengxue Enterprise Management Partnership (Limited Partnership) | Unknown | 4,319,665 | 0.40 | 0 | Unknown | | Shenzhen Xuneng Investment Co., Ltd. | Unknown | 3,720,000 | 0.34 | 0 | Unknown | | Boshi Fund Management Co., Ltd. - Agricultural Bank of China - Boshi China Securities Financial Asset Management Plan | Unknown | 3,445,400 | 0.32 | 0 | Unknown | | Harvest Fund Management Co., Ltd. - Agricultural Bank of China - Harvest China Securities Financial Asset Management Plan | Unknown | 3,445,400 | 0.32 | 0 | Unknown | - Chengdu Media Group holds 95% equity in Chengdu Borui Investment Holding Group Co., Ltd., the company's largest shareholder, thus Chengdu Media Group and Borui Investment are parties acting in concert, and Chengdu Media Group also becomes the company's controlling shareholder through equity control[12] - Shareholder Wu Bin holds a total of 8,287,568 shares through ordinary securities accounts and margin trading and securities lending accounts; shareholder Wang Linbing holds a total of 5,112,562 shares through ordinary securities accounts and margin trading and securities lending accounts[12] Other Reminders The company completed the Chengdu Cultural Property Exchange capital increase and share expansion, signed a voting rights entrustment agreement for consolidation, and the controlling shareholder is implementing a share increase plan - The company, in conjunction with China Digital Library, completed the capital increase and share expansion project for Chengdu Cultural Property Exchange and signed a voting rights entrustment agreement with Chengdu Lanhai Investment Management Co., Ltd., which will result in the Cultural Property Exchange being included in the company's consolidated financial statements[13] - The company's controlling shareholder, Chengdu Media Group, plans to increase its shareholding in the company within 12 months from August 9, 2021, with a cumulative increase of no less than 5,466,661 shares (representing 0.5% of total share capital) and no more than 21,866,642 shares (representing 2% of total share capital), at a price not exceeding CNY 4.5 per share[13] - As of the report disclosure date, Chengdu Media Group has increased its shareholding by 6,541,600 shares, directly holding 132,966,737 shares, accounting for 12.16% of the company's total shares[13] Quarterly Financial Statements This section presents the company's unaudited consolidated balance sheet, income statement, and cash flow statement, and explains the impact of first-time adoption of new lease standards Type of Audit Opinion The quarterly financial statements are unaudited - The quarterly financial statements are unaudited[14] Financial Statements This section presents the consolidated balance sheet as of September 30, 2021, and the consolidated income and cash flow statements for January-September 2021, detailing financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2021, total assets slightly increased, current assets decreased, non-current assets increased, total liabilities decreased, and owner's equity grew Consolidated Balance Sheet Key Data | Project | September 30, 2021 (CNY) | December 31, 2020 (CNY) | Change Amount (CNY) | Change Percentage (%) | | :--- | :--- | :--- | :--- | :--- | | Total Assets | 3,567,144,061.43 | 3,553,964,126.36 | 13,179,935.07 | 0.37 | | Total Current Assets | 1,018,429,288.93 | 1,155,390,407.16 | -136,961,118.23 | -11.85 | | Total Non-Current Assets | 2,548,714,772.50 | 2,398,573,719.20 | 150,141,053.30 | 6.26 | | Total Liabilities | 477,481,514.79 | 511,121,482.91 | -33,639,968.12 | -6.58 | | Total Current Liabilities | 376,190,302.39 | 408,327,338.97 | -32,137,036.58 | -7.87 | | Total Non-Current Liabilities | 101,291,212.40 | 102,794,143.94 | -1,502,931.54 | -1.46 | | Total Equity Attributable to Parent Company Shareholders | 2,961,926,230.84 | 2,929,148,479.82 | 32,777,751.02 | 1.12 | | Minority Interests | 127,736,315.80 | 113,694,163.63 | 14,042,152.17 | 12.35 | | Total Owners' Equity | 3,089,662,546.64 | 3,042,842,643.45 | 46,819,903.19 | 1.54 | Consolidated Income Statement In the first three quarters of 2021, the company achieved growth in total operating revenue, operating profit, net profit, and net profit attributable to parent company shareholders Consolidated Income Statement Key Data (January-September 2021 vs. January-September 2020) | Project | First Three Quarters 2021 (CNY) | First Three Quarters 2020 (CNY) | Change Amount (CNY) | Change Percentage (%) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 495,301,168.53 | 314,436,873.22 | 180,864,295.31 | 57.52 | | Operating Revenue | 453,978,594.73 | 276,720,738.36 | 177,257,856.37 | 64.06 | | Total Operating Costs | 424,995,961.28 | 250,618,960.34 | 174,377,000.94 | 69.58 | | Operating Profit | 84,644,200.13 | 85,402,940.33 | -758,740.20 | -0.89 | | Total Profit | 86,674,297.01 | 82,019,170.93 | 4,655,126.08 | 5.68 | | Net Profit | 62,845,458.13 | 60,368,240.99 | 2,477,217.14 | 4.10 | | Net Profit Attributable to Parent Company Shareholders | 56,803,305.96 | 55,823,616.48 | 979,689.48 | 1.76 | | Minority Interests Income | 6,042,152.17 | 4,544,624.51 | 1,497,527.66 | 32.95 | | Basic Earnings Per Share (CNY/share) | 0.0520 | 0.0511 | 0.0009 | 1.76 | | Diluted Earnings Per Share (CNY/share) | 0.0520 | 0.0511 | 0.0009 | 1.76 | Consolidated Cash Flow Statement In the first three quarters of 2021, net cash flow from operating activities turned negative, investing cash outflow significantly increased, and financing cash flow shifted from negative to positive Consolidated Cash Flow Statement Key Data (January-September 2021 vs. January-September 2020) | Project | First Three Quarters 2021 (CNY) | First Three Quarters 2020 (CNY) | Change Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -22,835,182.13 | 21,764,993.07 | -44,600,175.20 | | Net Cash Flow from Investing Activities | -81,210,848.63 | -3,133,948.44 | -78,076,800.19 | | Net Cash Flow from Financing Activities | 35,948,901.33 | -11,441,363.14 | 47,390,264.47 | | Net Increase in Cash and Cash Equivalents | -68,097,129.43 | 7,189,681.49 | -75,286,810.92 | | Cash and Cash Equivalents at End of Period | 716,540,286.30 | 874,617,142.47 | -158,076,856.17 | First-time Adoption of New Lease Standards from 2021 and Adjustments to Financial Statements at the Beginning of the First Year of Adoption The company adopted new lease standards from 2021 but made no adjustments to the January 1, 2021, financial statements, indicating no significant impact on the opening financial position - The company adopted new lease standards starting from 2021[24] - The explanation of adjustments to various items indicates that the company made no adjustments to the financial statements at the beginning of the year on January 1, 2021[27]