长城军工(601606) - 2023 Q3 - 季度财报

Key Highlights Summarizes Q3 2023 financial performance, key metrics, non-recurring items, and reasons for significant changes Major Accounting Data and Financial Indicators | Indicator | Current Period (RMB) | YoY Change Current Period (%) | Year-to-Date (RMB) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 308,065,627.37 | 41.19 | 941,277,745.14 | -2.03 | | Net Profit Attributable to Shareholders of Listed Company | 7,217,489.21 | 139.08 | 9,353,005.23 | 159.21 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | -546,286.49 | 97.65 | -7,586,373.07 | 77.97 | | Basic Earnings Per Share (RMB/share) | 0.01 | 139.08 | 0.013 | 158.72 | | Diluted Earnings Per Share (RMB/share) | 0.01 | 139.08 | 0.013 | 158.72 | | Weighted Average Return on Net Assets (%) | 0.28 | Increased by 138.05 percentage points | 0.36 | Increased by 0.98 percentage points | | Indicator | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,330,869,146.67 | 4,176,772,889.32 | 3.69 | | Total Equity Attributable to Shareholders of Listed Company | 2,598,872,540.86 | 2,610,944,683.95 | -0.46 | | Indicator | Year-to-Date (RMB) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -107,067,279.45 | 63.26 | Non-Recurring Gains and Losses | Item | Current Period Amount (RMB) | Year-to-Date Amount (RMB) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 271,285.88 | 12,628.23 | | Government Grants Recognized in Current Period P&L | 5,104,548.48 | 16,271,072.60 | | Fair Value Changes and Investment Income from Trading Financial Assets, Derivative Financial Assets, etc. | 3,161.68 | 3,161.68 | | Other Non-Operating Income and Expenses | 3,718,082.24 | 3,633,974.22 | | Less: Income Tax Impact | 1,338,384.41 | 2,988,125.51 | | Minority Interest Impact (After Tax) | -1,716.22 | -6,667.09 | | Total | 7,760,410.09 | 16,939,378.31 | Analysis of Changes in Major Accounting Data and Financial Indicators | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | -25.11 | Due to purchases of raw materials and components for annual production, increased receivables, and decreased payables in this period | | Prepayments | 23.42 | Due to increased prepayments for material purchases in this period | | Inventories | 22.84 | Due to purchases of raw materials and components for annual production, and increased work-in-progress in this period | | Other Current Assets | 43.86 | Due to increased new input VAT to be deducted in this period | | Construction in Progress | 94.02 | Due to increased fixed asset investment in this period | | Short-term Borrowings | 90.08 | Due to increased short-term bank borrowings in this period | | Notes Payable | -44.41 | Due to maturity and payment of bank acceptance bills issued in this period | | Employee Benefits Payable | -66.48 | Due to payment of accrued employee wages in this period | | Taxes Payable | -58.34 | Due to payment of income tax payable in this period | | Long-term Borrowings | 100.00 | Due to increased long-term bank borrowings in this period | | Taxes and Surcharges | 23.24 | Due to increased payment of VAT surcharges in this period | | Financial Expenses | 162.52 | Due to increased bank borrowings and decreased bank interest income in this period | | Other Income | -25.56 | Due to decreased government grants in this period | | Credit Impairment Losses | -34.86 | Due to decreased provision for bad debts in this period | | Net Cash Flow from Operating Activities | 63.26 | Due to year-over-year increase in cash received from sales of goods and services in this period | | Net Cash Flow from Investing Activities | -36.67 | Due to year-over-year increase in cash paid for the acquisition of fixed assets in this period | | Net Cash Flow from Financing Activities | 413.06 | Due to year-over-year increase in cash received from new bank borrowings in this period | | Operating Revenue_Current Period | 41.19 | Due to year-over-year increase in product deliveries in this period | | Net Profit Attributable to Shareholders_Current Period | 139.06 | Due to increased operating revenue and cost reduction and efficiency improvement in this period | | Net Profit Attributable to Shareholders_Year-to-Date | 159.19 | Due to changes in product delivery structure and cost reduction and efficiency improvement in this period | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items)_Current Period | 97.65 | Due to year-over-year increase in net profit in this period | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items)_Year-to-Date | 77.97 | Due to year-over-year increase in net profit in this period | | Net Cash Flow from Operating Activities_Year-to-Date | 63.26 | Due to year-over-year increase in cash received from sales of goods and services in this period | | Basic EPS_Current Period | 139.06 | Due to year-over-year increase in net profit in this period | | Basic EPS_Year-to-Date | 158.70 | Due to year-over-year increase in net profit in this period | | Diluted EPS_Current Period | 139.06 | Due to year-over-year increase in net profit in this period | | Diluted EPS_Year-to-Date | 158.70 | Due to year-over-year increase in net profit in this period | | Weighted Average ROE_Current Period | 138.03 | Due to year-over-year increase in net profit in this period | Shareholder Information Details total common shareholders and top ten shareholders' holdings, including nature, quantity, and associated relationships Total Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings - As of the end of the reporting period, the total number of common shareholders was 54,244, with no preferred shareholders with restored voting rights[10] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | Number of Restricted Shares Held (shares) | Pledge, Mark, or Freeze Status | Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Military Industry Group Holding Co., Ltd. | State-owned Legal Entity | 426,501,559 | 58.89 | 0 | None | | | Anhui Guohai Investment Development Co., Ltd. | Domestic Non-State-owned Legal Entity | 25,114,988 | 3.47 | 0 | Unknown | | | Anhui Jinjiuhua International Hotel Co., Ltd. | Other | 4,300,000 | 0.59 | 0 | Unknown | | | China Construction Bank Corporation - Guotai CSI Military Industry ETF | Other | 2,902,577 | 0.40 | 0 | Unknown | | | Yi Wen | Other | 2,863,600 | 0.40 | 0 | Unknown | | | Li Hongjie | Other | 2,580,000 | 0.36 | 0 | Unknown | | | Xu Jiandong | Other | 1,800,031 | 0.25 | 0 | Unknown | | | China Construction Bank Corporation - Fullgoal CSI Military Industry Index Fund | Other | 1,608,600 | 0.22 | 0 | Unknown | | | Industrial and Commercial Bank of China - GF CSI Military Industry ETF | Other | 1,503,877 | 0.21 | 0 | Unknown | | | Aladdin Era Defense Technology (Chongqing) Co., Ltd. | Other | 1,478,500 | 0.20 | 0 | Unknown | | - Anhui Military Industry Group Holding Co., Ltd. is the controlling shareholder and has no associated relationships with other shareholders. The company is unaware of any associated relationships or concerted actions among other shareholders[12] Other Reminders Highlights potential risks of delayed product delivery, which may impact revenue and profit - The company faces potential risks of decreased revenue and profit due to delayed delivery of individual products[13] Quarterly Financial Statements Presents unaudited consolidated balance sheet, income statement, and cash flow statement for the reporting period Type of Audit Opinion - The financial statements for this quarter are unaudited[36] Consolidated Balance Sheet | Item | September 30, 2023 (RMB) | December 31, 2022 (RMB) | | :--- | :--- | :--- | | Current Assets: | | | | Cash and Cash Equivalents | 342,241,594.40 | 457,020,482.39 | | Accounts Receivable | 1,428,689,021.92 | 1,326,998,133.03 | | Inventories | 796,671,029.40 | 648,566,432.73 | | Total Current Assets | 2,796,548,270.45 | 2,633,317,928.76 | | Non-Current Assets: | | | | Fixed Assets | 1,039,132,062.40 | 1,086,970,025.60 | | Construction in Progress | 79,114,911.37 | 40,777,218.94 | | Total Non-Current Assets | 1,534,320,876.22 | 1,543,454,960.56 | | Total Assets | 4,330,869,146.67 | 4,176,772,889.32 | | Current Liabilities: | | | | Short-term Borrowings | 390,000,000.00 | 205,182,069.49 | | Notes Payable | 93,015,050.65 | 167,314,750.82 | | Total Current Liabilities | 1,301,277,282.18 | 1,182,917,090.09 | | Non-Current Liabilities: | | | | Long-term Borrowings | 60,000,000.00 | 0.00 | | Total Non-Current Liabilities | 415,491,543.97 | 367,028,454.97 | | Total Liabilities | 1,716,768,826.15 | 1,549,945,545.06 | | Shareholders' Equity: | | | | Total Equity Attributable to Parent Company Shareholders | 2,598,872,540.86 | 2,610,944,683.95 | | Minority Interests | 15,227,779.66 | 15,882,660.31 | | Total Shareholders' Equity | 2,614,100,320.52 | 2,626,827,344.26 | | Total Liabilities and Shareholders' Equity | 4,330,869,146.67 | 4,176,772,889.32 | Consolidated Income Statement | Item | First Three Quarters 2023 (Jan-Sep) (RMB) | First Three Quarters 2022 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 941,277,745.14 | 960,753,903.17 | | Total Operating Costs | 937,503,235.05 | 973,017,450.41 | | Operating Profit | -282,277.59 | -22,798,767.28 | | Total Profit | 3,351,696.63 | -22,593,255.41 | | Net Profit | 8,698,124.59 | -16,185,111.06 | | Net Profit Attributable to Parent Company Shareholders | 9,353,005.23 | -15,801,923.55 | | Minority Interest Income/Loss | -654,880.65 | -383,187.51 | | Total Comprehensive Income | 8,701,490.20 | -16,183,066.35 | | Total Comprehensive Income Attributable to Parent Company Shareholders | 9,356,370.85 | -15,799,878.84 | | Basic Earnings Per Share (RMB/share) | 0.013 | -0.022 | | Diluted Earnings Per Share (RMB/share) | 0.013 | -0.022 | Consolidated Cash Flow Statement | Item | First Three Quarters 2023 (Jan-Sep) (RMB) | First Three Quarters 2022 (Jan-Sep) (RMB) | | :--- | :--- | :--- | | Subtotal Cash Inflows from Operating Activities | 977,110,006.22 | 781,257,088.35 | | Subtotal Cash Outflows from Operating Activities | 1,084,177,285.67 | 1,072,700,676.49 | | Net Cash Flow from Operating Activities | -107,067,279.45 | -291,443,588.14 | | Subtotal Cash Inflows from Investing Activities | 176,180.82 | 140,052.15 | | Subtotal Cash Outflows from Investing Activities | 60,016,993.21 | 43,926,026.94 | | Net Cash Flow from Investing Activities | -59,840,812.39 | -43,785,974.79 | | Subtotal Cash Inflows from Financing Activities | 420,985,626.80 | 274,500,000.00 | | Subtotal Cash Outflows from Financing Activities | 330,764,267.89 | 303,318,769.69 | | Net Cash Flow from Financing Activities | 90,221,358.91 | -28,818,769.69 | | Net Increase in Cash and Cash Equivalents | -76,686,732.93 | -364,048,332.62 | | Cash and Cash Equivalents at Period End | 291,839,011.88 | 201,723,578.54 |