郑煤机(601717) - 2020 Q1 - 季度财报

Important Notice The company's board, supervisors, and senior management, along with key financial officers, guarantee the accuracy and completeness of this unaudited quarterly report - The company's board of directors, supervisory board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or material omissions[3] - The company's responsible person, chief financial officer, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements in this quarterly report[3] - This company's Q1 2020 report is unaudited[3] Company Overview This section provides an overview of the company's key financial performance, shareholder structure, and confirms the absence of preferred shareholders Key Financial Data In Q1 2020, the company's operating revenue decreased by 6.50% year-on-year to CNY 5.94 billion, while net profit attributable to shareholders increased by 6.34% to CNY 402 million, and net cash flow from operating activities turned negative, significantly declining by 109.03% year-on-year Key Financial Data for Q1 2020 | Indicator | 2020 Q1 | 2019 Q1 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 5,941,232,246.25 | 6,353,938,114.62 | -6.50 | | Net Profit Attributable to Shareholders (CNY) | 401,914,619.43 | 377,968,496.38 | 6.34 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (CNY) | 429,330,597.44 | 354,261,395.32 | 21.19 | | Net Cash Flow from Operating Activities (CNY) | -19,571,088.73 | 216,669,314.26 | -109.03 | | Basic Earnings Per Share (CNY/share) | 0.232 | 0.218 | 6.42 | Balance Sheet End-of-Period Data | Indicator | March 31, 2020 | December 31, 2019 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 28,947,411,178.21 | 29,712,598,520.15 | -2.58 | | Net Assets Attributable to Shareholders (CNY) | 12,527,549,342.15 | 12,239,731,257.55 | 2.35 | - Total non-recurring gains and losses for the reporting period amounted to -CNY 27.42 million, primarily due to fair value changes and investment income from trading financial assets and liabilities, with losses reaching -CNY 91.63 million[5] Shareholder Information As of the end of the reporting period, the company had 54,149 shareholders, with the top two being Henan Machinery Equipment Investment Group Co., Ltd. holding 30.08% and HKSCC NOMINEES LIMITED holding 12.73% - As of the end of the reporting period, the company had a total of 54,149 shareholders[6] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Henan Machinery Equipment Investment Group Co., Ltd. | 521,087,800 | 30.08 | | HKSCC NOMINEES LIMITED | 220,520,990 | 12.73 | | Henan Asset Management Co., Ltd. | 59,314,242 | 3.42 | | Central Huijin Asset Management Co., Ltd. | 28,608,500 | 1.65 | | Li Jun | 25,891,300 | 1.49 | Preferred Shareholder Information The company had no preferred shareholders during the reporting period - The company has no preferred shareholders[7] Significant Events This section details significant changes in key financial statement items and business segment performance, while noting no major event progress, unfulfilled commitments, or performance warnings Analysis of Major Changes in Key Financial Statement Items and Financial Indicators During the reporting period, the company's financial position was influenced by multiple factors, with significant fluctuations in trading financial assets and liabilities on the balance sheet, and substantial declines across all cash flow indicators; the coal machinery segment showed strong performance, while the automotive parts segment experienced significant revenue and profit declines due to the COVID-19 pandemic, leading to an overall revenue decrease Major Changes in Balance Sheet and Cash Flow Statement Items At the end of the reporting period, trading financial assets increased by 41.97% due to new wealth management products, while trading financial liabilities surged by 1,979.54% influenced by exchange rate and commodity hedging activities; net cash flows from operating, investing, and financing activities all turned negative, decreasing by 109.03%, 172.97%, and 130.93% year-on-year respectively, primarily due to reduced sales collections, increased purchases of wealth management products, and higher bank loan repayments Major Changes in Balance Sheet and Cash Flow Statement Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Balance Sheet Items | | | | Trading Financial Assets | 41.97 | Primarily due to new wealth management products | | Prepayments | 50.84 | Primarily due to increased prepayments for steel and other materials for coal mining comprehensive mining equipment | | Trading Financial Liabilities | 1,979.54 | Primarily due to SEG exchange rate and commodity risk hedging business impact | | Deferred Income | 54.07 | Primarily due to receiving support funds for Zhengzhou Coal Mining Machinery Group's high-end hydraulic support production base project | | Cash Flow Statement Items | | | | Net Cash Flow from Operating Activities | -109.03 | Primarily due to decreased cash received from sales of goods and provision of services | | Net Cash Flow from Investing Activities | -172.97 | Primarily due to purchase of wealth management products | | Net Cash Flow from Financing Activities | -130.93 | Primarily due to decreased bank borrowings and increased repayment of bank borrowings | Analysis of Revenue and Profit by Business Segment The company's two major business segments showed significant performance divergence; the coal machinery segment performed strongly with revenue increasing by 19.38% and net profit surging by 81.15% year-on-year, while the automotive parts segment, impacted by the global COVID-19 pandemic, saw revenue decline by 18.73% and net profit plummet by 334.45% from a profit to a loss, primarily due to decreased sales, exchange rate hedging losses, and inventory impairment losses Total Operating Revenue by Business Segment (CNY 10,000) | Business Segment | 2020 Q1 | 2019 Q1 | Change (%) | | :--- | :--- | :--- | :--- | | Coal Machinery Segment | 243,929.65 | 204,338.45 | 19.38 | | Automotive Parts Segment | 350,327.81 | 431,055.36 | -18.73 | | Total | 594,257.46 | 635,393.81 | -6.47 | Net Profit by Business Segment (CNY 10,000) | Business Segment | 2020 Q1 | 2019 Q1 | Change (%) | | :--- | :--- | :--- | :--- | | Coal Machinery Segment | 63,490.30 | 35,048.00 | 81.15 | | Automotive Parts Segment | -18,783.80 | 8,011.79 | -334.45 | | Total | 42,243.23 | 40,790.00 | 3.56 | - The decline in revenue for the automotive parts segment was primarily due to the continuous decline in domestic and international automobile production and sales, impacted by the COVID-19 pandemic[11] - The significant increase in net profit for the coal machinery segment was mainly attributed to increased sales revenue and improved gross profit margin on product sales[11] Progress of Significant Events During the reporting period, the company had no significant events requiring disclosure of their progress - Not applicable[12] Overdue Unfulfilled Commitments During the reporting period, the company had no overdue unfulfilled commitments - Not applicable[12] Performance Forecast Warning The company has not issued any warnings regarding significant changes in cumulative net profit from the beginning of the year to the end of the next reporting period - Not applicable[12] Appendix This appendix includes the company's unaudited consolidated and parent company financial statements, with no new accounting standard adjustments or retrospective data provided, and confirms the report is unaudited Financial Statements This appendix contains the company's unaudited consolidated and parent company financial statements for Q1 2020, including the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2020, the company's consolidated total assets were CNY 28.95 billion, a 2.58% decrease from the end of the previous year; total liabilities were CNY 15.50 billion; and total equity attributable to parent company owners was CNY 12.53 billion, a 2.35% increase from the end of the previous year Key Items from Consolidated Balance Sheet (CNY) | Item | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Total Assets | 28,947,411,178.21 | 29,712,598,520.15 | | Total Liabilities | 15,496,828,654.68 | 16,570,351,777.52 | | Total Equity Attributable to Parent Company Owners | 12,527,549,342.15 | 12,239,731,257.55 | Parent Company Balance Sheet As of March 31, 2020, the parent company's total assets were CNY 18.46 billion, total liabilities were CNY 5.64 billion, and total owner's equity was CNY 12.82 billion Key Items from Parent Company Balance Sheet (CNY) | Item | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Total Assets | 18,461,001,179.98 | 18,481,969,760.40 | | Total Liabilities | 5,642,344,824.47 | 6,192,544,367.02 | | Total Owner's Equity | 12,818,656,355.51 | 12,289,425,393.38 | Consolidated Income Statement In Q1 2020, the company achieved total operating revenue of CNY 5.94 billion, a 6.47% year-on-year decrease; net profit was CNY 422 million, a 3.56% year-on-year increase; net profit attributable to parent company shareholders was CNY 402 million, a 6.34% year-on-year increase; and basic earnings per share were CNY 0.232 Key Items from Consolidated Income Statement (CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | I. Total Operating Revenue | 5,942,574,553.80 | 6,353,938,114.62 | | III. Operating Profit | 564,843,619.77 | 501,293,693.22 | | V. Net Profit | 422,432,315.73 | 407,900,033.45 | | Net Profit Attributable to Parent Company Shareholders | 401,914,619.43 | 377,968,496.38 | | Basic Earnings Per Share (CNY/share) | 0.232 | 0.218 | Parent Company Income Statement In Q1 2020, the parent company achieved operating revenue of CNY 1.66 billion, a 9.61% year-on-year increase; and net profit of CNY 529 million, a 32.81% year-on-year increase Key Items from Parent Company Income Statement (CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | I. Operating Revenue | 1,664,426,096.12 | 1,518,532,896.46 | | II. Operating Profit | 618,256,426.07 | 439,192,935.21 | | IV. Net Profit | 529,230,962.13 | 398,499,272.42 | Consolidated Cash Flow Statement In Q1 2020, the company's net cash flow from operating activities was -CNY 19.57 million, turning negative year-on-year; net cash flow from investing activities was -CNY 798 million, indicating a significant increase in outflow; net cash flow from financing activities was -CNY 169 million, also turning negative year-on-year; and the cash and cash equivalents balance at period-end was CNY 2.84 billion Key Items from Consolidated Cash Flow Statement (CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -19,571,088.73 | 216,669,314.26 | | Net Cash Flow from Investing Activities | -797,738,015.04 | -292,247,617.89 | | Net Cash Flow from Financing Activities | -168,639,081.49 | 545,306,758.61 | | Cash and Cash Equivalents at Period-End | 2,835,864,209.06 | 3,233,409,286.92 | Parent Company Cash Flow Statement In Q1 2020, the parent company's net cash flow from operating activities was -CNY 51.83 million, net cash flow from investing activities was -CNY 639 million, and net cash flow from financing activities was CNY 83.51 million; the cash and cash equivalents balance at period-end was CNY 1.73 billion Key Items from Parent Company Cash Flow Statement (CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -51,826,745.42 | 59,917,314.97 | | Net Cash Flow from Investing Activities | -638,954,640.45 | 65,190,768.97 | | Net Cash Flow from Financing Activities | 83,514,225.31 | 265,102,891.68 | | Cash and Cash Equivalents at Period-End | 1,732,003,511.86 | 1,646,123,536.45 | Explanation of New Standard Implementation and Financial Statement Adjustments The report does not provide information regarding the first-time adoption of new revenue and lease standards from 2020 and the adjustment of financial statements at the beginning of that year - Not applicable[29] Explanation of New Standard Retrospective Adjustments The report does not provide an explanation regarding the retrospective adjustment of prior period comparative data due to the first-time adoption of new revenue and lease standards from 2020 - Not applicable[29] Audit Report This quarterly report is unaudited - Not applicable[29]