宏发股份(600885) - 2021 Q3 - 季度财报

Important Notice Hongfa Technology Co., Ltd.'s Q3 2021 report is guaranteed by management, though the financial statements remain unaudited - Hongfa Technology Co., Ltd.'s Q3 2021 report has been guaranteed for accuracy, completeness, and truthfulness by the Board of Directors, Supervisory Board, and senior management, but the quarterly financial statements are unaudited[2][3] Key Financial Data This section details Hongfa's robust financial performance in Q3 and YTD 2021, highlighting significant growth in revenue, net profit, and cash flow, alongside changes in key financial indicators Key Accounting Data and Financial Indicators Hongfa's Q3 and YTD 2021 financial performance shows strong growth in revenue, net profit attributable to shareholders, and operating cash flow, alongside robust asset and equity expansion Key Financial Indicators for Q3 2021 and Year-to-Date | Item | Current Period (Q3 2021) (RMB) | YoY Change (%) | Year-to-Date (YTD 2021) (RMB) | Period-end vs. Prior Year-end Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 2,616,976,230.42 | 31.09 | 7,564,444,263.75 | 39.12 | | Net Profit Attributable to Shareholders | 300,525,693.84 | 25.28 | 820,833,743.61 | 37.44 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 274,200,498.70 | 28.48 | 731,910,566.59 | 29.70 | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | 924,016,870.95 | 43.16 | | Basic Earnings Per Share (RMB/share) | 0.4035 | 25.27 | 1.1021 | 37.44 | | Diluted Earnings Per Share (RMB/share) | 0.4035 | 25.27 | 1.1021 | 37.44 | | Weighted Average Return on Net Assets (%) | 5.07 | Increased by 0.45 percentage points | 14.32 | Increased by 3.19 percentage points | | Period-end Indicators | Current Period-end (Sep 30, 2021) (RMB) | Prior Year-end (Dec 31, 2020) (RMB) | | Current Period-end vs. Prior Year-end Change (%) | | Total Assets | 12,445,586,450.83 | 10,842,946,543.08 | | 14.78 | | Equity Attributable to Shareholders of Listed Company | 6,079,427,997.32 | 5,527,482,768.27 | | 9.99 | Non-Recurring Gains and Losses and Amounts During the reporting period, non-recurring gains and losses, primarily government subsidies and fair value changes of financial assets, positively impacted net profit, totaling RMB 88.92 million year-to-date Non-Recurring Gains and Losses for Q3 2021 and Year-to-Date | Item | Amount for Current Period (Q3 2021) (RMB) | Amount Year-to-Date (YTD 2021) (RMB) | Notes | | :--- | :--- | :--- | :--- | | Disposal Gains/Losses of Non-Current Assets | -84,142.33 | -31,444.00 | | | Government Subsidies Included in Current Profit/Loss | 24,319,202.30 | 74,918,395.99 | | | Fair Value Change Gains/Losses and Investment Income | 14,691,819.57 | 56,358,274.42 | | | Other Non-Operating Income and Expenses | -1,746,077.84 | -2,568,508.43 | | | Less: Income Tax Impact | 2,698,589.76 | 11,703,060.23 | | | Minority Interest Impact (After Tax) | 8,157,016.80 | 28,050,480.73 | | | Total | 26,325,195.14 | 88,923,177.02 | | Changes and Reasons for Key Accounting Data and Financial Indicators The company experienced significant growth in total operating revenue, net profit attributable to parent, operating cash flow, and EPS, driven by increased product sales, improved collections, tax refunds, and non-recurring gains - Total operating revenue increased by 39.12% year-on-year, primarily due to increased sales of general, automotive, and new energy relays during the reporting period[8] - Net profit attributable to parent company shareholders increased by 37.44% year-on-year, mainly due to expanded sales scale and increased non-recurring gains and losses[8] - Net cash flow from operating activities increased by 43.16% year-on-year, primarily due to increased sales collections and tax refunds during the reporting period[8] Shareholder Information This section provides an overview of the company's shareholder structure, including the total number of common shareholders and the detailed holdings of the top ten shareholders Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 16,779 common shareholders, with Youge Investment Co., Ltd. as the largest shareholder holding 27.35%, with some shares pledged - The total number of common shareholders at the end of the reporting period was 16,779[9] Top Ten Shareholders' Holdings at Period-end | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Number of Restricted Shares Held (shares) | Share Status | Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Youge Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 203,681,781 | 27.35 | 0 | Pledged | 33,910,000 | | Hong Kong Securities Clearing Company Limited | Other | 123,837,650 | 16.63 | 0 | None | 0 | | Lianfa Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 49,969,014 | 6.71 | 0 | Pledged | 9,800,000 | | National Council for Social Security Fund 112 Portfolio | Domestic Non-State-Owned Legal Person | 17,052,956 | 2.29 | 0 | None | 0 | | Agricultural Bank of China Co., Ltd. - Guotai Smart Auto Stock Investment Fund | Domestic Non-State-Owned Legal Person | 11,894,179 | 1.60 | 0 | None | 0 | | China Merchants Bank Co., Ltd. - Xingquan Hetai Mixed Securities Investment Fund | Domestic Non-State-Owned Legal Person | 11,302,895 | 1.52 | 0 | None | 0 | | Norges Bank - Own Funds | Overseas Legal Person | 9,344,695 | 1.25 | 0 | None | 0 | | National Council for Social Security Fund 102 Portfolio | Domestic Non-State-Owned Legal Person | 8,361,325 | 1.12 | 0 | None | 0 | | National Council for Social Security Fund 406 Portfolio | Domestic Non-State-Owned Legal Person | 6,942,478 | 0.93 | 0 | None | 0 | | China Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Product - 005L - CT001 Shanghai | Domestic Non-State-Owned Legal Person | 6,399,074 | 0.86 | 0 | None | 0 | - There are no related party relationships between the company's largest shareholder, Youge Investment Co., Ltd., and other shareholders[10] Other Reminders No other significant information regarding the company's operating performance requires special investor attention - There is no other significant information regarding the company's operating performance during the reporting period that requires special attention from investors[10] Quarterly Financial Statements This section presents the company's unaudited quarterly financial statements, including the balance sheet, income statement, and cash flow statement, along with a note on audit status and new lease standard adoption Type of Audit Opinion The quarterly financial statements are unaudited - The quarterly financial statements are unaudited[3][10] Financial Statements This section presents Hongfa Technology Co., Ltd.'s unaudited Q3 2021 consolidated balance sheet, income statement, and cash flow statement, providing a comprehensive overview of the company's financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2021, total assets reached RMB 12.45 billion, a 14.78% increase from year-end 2020; equity attributable to shareholders was RMB 6.08 billion, up 9.99%, with notable increases in accounts receivable and inventory Consolidated Balance Sheet Key Data (As of September 30, 2021) | Item | Sep 30, 2021 (RMB) | Dec 31, 2020 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Assets | | | | | Total Current Assets | 7,364,678,547.75 | 6,158,355,846.00 | 19.59 | | Total Non-Current Assets | 5,080,907,903.08 | 4,684,590,697.08 | 8.46 | | Total Assets | 12,445,586,450.83 | 10,842,946,543.08 | 14.78 | | Liabilities | | | | | Total Current Liabilities | 3,133,402,672.37 | 2,408,056,005.93 | 30.12 | | Total Non-Current Liabilities | 1,116,491,930.71 | 1,034,743,419.54 | 7.90 | | Total Liabilities | 4,249,894,603.08 | 3,442,799,425.47 | 23.44 | | Shareholders' Equity | | | | | Total Equity Attributable to Parent Company Shareholders | 6,079,427,997.32 | 5,527,482,768.27 | 9.99 | | Minority Interests | 2,116,263,850.43 | 1,872,664,349.34 | 13.01 | | Total Shareholders' Equity | 8,195,691,847.75 | 7,400,147,117.61 | 10.75 | - As of September 30, 2021, the company's total assets were RMB 12.45 billion, an increase of 14.78% compared to year-end 2020[5][12] - Equity attributable to shareholders of the listed company was RMB 6.08 billion, an increase of 9.99% compared to year-end 2020[5][13] Consolidated Income Statement For the first three quarters of 2021, total operating revenue reached RMB 7.56 billion, up 39.12%; net profit attributable to parent company shareholders was RMB 821 million, up 37.44%, with increased costs and R&D expenses Consolidated Income Statement Key Data (First Three Quarters of 2021) | Item | First Three Quarters of 2021 (Jan-Sep) (RMB) | First Three Quarters of 2020 (Jan-Sep) (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 7,564,444,263.75 | 5,437,361,108.68 | 39.12 | | Total Operating Costs | 6,364,640,773.87 | 4,521,219,881.83 | 40.78 | | Including: Operating Costs | 4,903,952,158.60 | 3,332,669,751.64 | 47.16 | | Selling Expenses | 268,772,538.33 | 279,578,130.13 | -3.86 | | Administrative Expenses | 734,626,485.09 | 568,915,460.97 | 29.13 | | Research and Development Expenses | 338,817,388.17 | 252,003,782.90 | 34.45 | | Financial Expenses | 59,749,711.82 | 40,300,816.89 | 48.26 | | Operating Profit | 1,302,412,820.48 | 978,779,110.64 | 33.06 | | Total Profit | 1,299,844,312.05 | 977,309,870.73 | 33.00 | | Net Profit | 1,125,439,546.04 | 814,634,884.12 | 38.16 | | Net Profit Attributable to Parent Company Shareholders | 820,833,743.61 | 597,236,131.99 | 37.44 | | Minority Interest Income | 304,605,802.43 | 217,398,752.13 | 40.12 | | Basic Earnings Per Share (RMB/share) | 1.1021 | 0.8019 | 37.44 | | Diluted Earnings Per Share (RMB/share) | 1.1021 | 0.8019 | 37.44 | - Total operating revenue for the first three quarters of 2021 was RMB 7.56 billion, a year-on-year increase of 39.12%[4][14] - Net profit attributable to parent company shareholders for the first three quarters of 2021 was RMB 821 million, a year-on-year increase of 37.44%[4][17] Consolidated Cash Flow Statement In the first three quarters of 2021, net cash flow from operating activities was RMB 924 million, up 43.16%, driven by increased sales collections and tax refunds, while investing and financing activities resulted in negative net cash flows Consolidated Cash Flow Statement Key Data (First Three Quarters of 2021) | Item | First Three Quarters of 2021 (Jan-Sep) (RMB) | First Three Quarters of 2020 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 7,254,053,217.18 | 5,917,016,231.45 | | Subtotal of Cash Outflows from Operating Activities | 6,330,036,346.23 | 5,271,555,390.57 | | Net Cash Flow from Operating Activities | 924,016,870.95 | 645,460,840.88 | | Subtotal of Cash Inflows from Investing Activities | 135,144,769.72 | 51,582,314.03 | | Subtotal of Cash Outflows from Investing Activities | 681,655,455.16 | 552,717,566.91 | | Net Cash Flow from Investing Activities | -546,510,685.44 | -501,135,252.88 | | Subtotal of Cash Inflows from Financing Activities | 395,545,333.40 | 1,719,911,152.45 | | Subtotal of Cash Outflows from Financing Activities | 775,673,736.22 | 1,658,896,985.55 | | Net Cash Flow from Financing Activities | -380,128,402.82 | 61,014,166.90 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -12,909,157.85 | -1,650,854.59 | | Net Increase in Cash and Cash Equivalents | -15,531,375.16 | 203,688,900.31 | | Cash and Cash Equivalents at End of Period | 882,636,392.67 | 1,588,312,211.07 | - Net cash flow from operating activities for the first three quarters of 2021 was RMB 924 million, a year-on-year increase of 43.16%[4][19] - Net cash flow from investing activities was RMB -547 million, and net cash flow from financing activities was RMB -380 million[20] Adjustments to Beginning-of-Year Financial Statements upon First Adoption of New Lease Standards in 2021 The company did not adjust its beginning-of-year 2021 financial statements due to the first adoption of new lease standards - The company did not adjust its beginning-of-year 2021 financial statements due to the first adoption of new lease standards[20]