方正证券(601901) - 2021 Q3 - 季度财报

Report Overview Important Notice The board of directors, supervisory board, and senior management assure the truthfulness, accuracy, and completeness of the quarterly report content, with unaudited financial statements for this quarter - The company's board of directors, supervisory board, and senior management assume legal responsibility for the truthfulness, accuracy, and completeness of the quarterly report content[3] - The financial statements for this quarter are unaudited[3] Key Financial Data Key Accounting Data and Financial Indicators Year-to-date revenue and net profit attributable to shareholders increased, but Q3 net profit declined by 25.34%; operating cash flow significantly grew by 66.11% Key Accounting Data and Financial Indicators (Year-to-Date) | Item | Year-to-Date Amount (Yuan) | Period-over-Period Change (%) | | :--- | :--- | :--- | | Operating Revenue | 6,458,626,853.43 | 12.82 | | Net Profit Attributable to Shareholders of Listed Company | 1,928,277,072.19 | 30.08 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 1,911,745,485.76 | 26.89 | | Net Cash Flow from Operating Activities | 10,079,184,742.16 | 66.11 | | Basic Earnings Per Share (Yuan/share) | 0.23 | 27.78 | | Diluted Earnings Per Share (Yuan/share) | 0.23 | 27.78 | | Weighted Average Return on Net Assets (%) | 4.76 | Increased by 0.98 percentage points | | Total Assets | 148,507,421,704.99 | 20.49 | | Owners' Equity Attributable to Shareholders of Listed Company | 41,398,515,209.32 | 4.49 | Key Financial Indicators (Q3) | Item | Current Period Amount (Yuan) | Period-over-Period Change (%) | | :--- | :--- | :--- | | Operating Revenue | 2,378,677,004.88 | 2.02 | | Net Profit Attributable to Shareholders of Listed Company | 627,729,913.06 | -25.34 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 606,937,762.65 | -28.07 | | Basic Earnings Per Share (Yuan/share) | 0.07 | -30.00 | | Diluted Earnings Per Share (Yuan/share) | 0.07 | -30.00 | | Weighted Average Return on Net Assets (%) | 1.52 | Decreased by 0.60 percentage points | Non-recurring Gains and Losses Non-recurring gains and losses totaled 20.79 million Yuan for the quarter and 16.53 million Yuan year-to-date, primarily from government subsidies and other non-operating items Non-recurring Gains and Losses and Amounts | Item | Current Period Amount (Yuan) | Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | Gains and losses from disposal of non-current assets | -1,266,877.31 | -1,491,462.57 | | Government subsidies recognized in current profit or loss | 5,481,448.27 | 11,686,058.37 | | Other non-operating income and expenses apart from the above | 23,214,052.24 | 14,978,405.49 | | Less: Income tax impact | 6,495,563.23 | 8,333,071.13 | | Minority interest impact (after tax) | 140,909.56 | 308,343.73 | | Total | 20,792,150.41 | 16,531,586.43 | Analysis of Financial Indicator Changes Year-to-date net interest income increased by 42% due to higher interest from other debt investments and financing, while investment banking fees and investment income declined due to reduced project revenue and consolidated structured entity investment income; operating cash flow surged by 66.11% from changes in client funds, financial assets, and repurchase scale Year-to-Date Changes and Reasons for Key Financial Indicators | Item Name | Year-to-Date Amount (Yuan) | Prior Year Same Period (Yuan) | Change Ratio (%) | Primary Reasons | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | 1,616,945,225.89 | 1,138,695,422.06 | 42.00 | Increase in interest income from other debt investments and financing business | | Net Fee and Commission Income from Investment Banking Business | 311,111,424.70 | 499,732,198.25 | -37.74 | Decrease in investment banking project income | | Investment Income | 553,741,091.27 | 1,083,191,077.57 | -48.88 | Decrease in investment income from consolidated structured entities | | Gains from Changes in Fair Value | -9,539,353.22 | -582,957,505.98 | Not Applicable | Changes in fair value of financial instruments held for trading | | Non-operating Income | 27,802,540.11 | 7,807,049.46 | 256.12 | Receipt of litigation-related deposits | | Non-operating Expenses | 20,308,913.59 | 64,521,076.80 | -68.52 | Prior period pending litigation | | Income Tax Expense | 648,444,255.71 | 416,019,696.41 | 55.87 | Increase in taxable income | | Net Profit | 1,971,689,767.97 | 1,498,160,830.44 | 31.61 | Market conditions impacting brokerage business and subsidiary earnings | | Total Comprehensive Income | 1,845,822,256.58 | 1,311,021,934.29 | 40.79 | Market conditions impacting brokerage business and subsidiary earnings, and fair value changes of financial investment instruments | | Net Cash Flow from Operating Activities | 10,079,184,742.16 | 6,067,925,139.80 | 66.11 | Changes in client fund scale, financial asset scale, and repurchase scale | Changes and Reasons for Key Balance Sheet Items (End of Reporting Period) | Item Name | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change Ratio (%) | Primary Reasons | | :--- | :--- | :--- | :--- | :--- | | Accounts Receivable | 3,142,959,488.17 | 469,132,776.49 | 569.95 | Increase in pledged deposits receivable and clearing receivables | | Financial Assets Held Under Resale Agreements | 690,607,542.90 | 1,487,479,876.71 | -53.57 | Decrease in stock pledge repurchase scale | | Other Debt Investments | 32,752,958,167.50 | 14,190,249,453.69 | 130.81 | Increase in financial asset investment scale | | Other Equity Instrument Investments | 0 | 5,156,843,276.17 | -100.00 | Decrease in financial asset investment scale | | Right-of-Use Assets | 654,123,669.71 | Not Applicable | Not Applicable | Adoption of new lease standards | | Short-term Borrowings | 172,582,476.53 | 317,783,132.80 | -45.69 | Repayment of short-term borrowings | | Financial Liabilities Held for Trading | 50,037,235.85 | 4,806,183,918.95 | -98.96 | Decrease in consolidated structured product scale | | Financial Assets Sold Under Repurchase Agreements | 31,691,078,233.23 | 13,332,074,099.80 | 137.71 | Increase in bond pledge repurchase and income rights transfer repurchase scale | | Accounts Payable | 15,785,888,089.71 | 11,075,970,165.60 | 42.52 | Increase in payable margin deposits | | Lease Liabilities | 607,639,620.15 | Not Applicable | Not Applicable | Adoption of new lease standards | | Other Liabilities | 1,266,394,787.14 | 583,621,533.21 | 116.99 | Increase in payable deposits | | Other Comprehensive Income | 100,297,898.09 | 226,165,409.48 | -55.65 | Fair