百合股份(603102) - 2023 Q3 - 季度财报

Important Notice This report confirms the board, supervisory board, and senior management's assurance of the quarterly report's truthfulness, accuracy, and completeness, with financial statements unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility[2] - The company's head, chief accountant, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The financial statements for the third quarter are unaudited[4] Key Financial Data The company demonstrated robust financial growth in the first three quarters of 2023, with double-digit increases in revenue and net profit, alongside significantly improved operating cash flow (I) Key Accounting Data and Financial Indicators Q1-Q3 2023 saw over 20% growth in revenue and net profit, with operating cash flow up 51.85%, despite a slight Q3 decline, while total assets and equity increased Key Financial Indicators for Q3 and YTD 2023 | Item | Current Period (Q3) | YoY Change (%) | YTD | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 184,591,377.73 CNY | -3.45 | 632,508,118.64 CNY | 21.82 | | Net Profit Attributable to Shareholders | 31,241,042.11 CNY | -10.69 | 128,704,815.37 CNY | 20.68 | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains/Losses | 29,627,135.10 CNY | -11.89 | 119,659,191.43 CNY | 17.37 | | Net Cash Flow from Operating Activities | Not applicable | Not applicable | 139,715,537.99 CNY | 51.85 | | Basic Earnings Per Share (CNY/share) | 0.49 | -10.91 | 2.01 | 17.54 | | Diluted Earnings Per Share (CNY/share) | 0.49 | -10.91 | 2.01 | 17.54 | | Weighted Average Return on Net Assets (%) | 2.09 | Decrease of 0.46 percentage points | 8.76 | Increase of 0.48 percentage points | | End of Current Period | | | End of Prior Year | Change from Prior Year-End (%) | | Total Assets | 1,712,922,553.72 CNY | | 1,661,982,995.88 CNY | 3.06 | | Total Owners' Equity Attributable to Shareholders | 1,512,363,829.22 CNY | | 1,422,049,161.75 CNY | 6.35 | (II) Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for Q1-Q3 2023 were CNY 9,045,623.94, mainly from government grants and entrusted investments Non-Recurring Gains and Losses Items for Q3 and YTD 2023 | Item | Amount for Current Period (Q3) | Amount YTD | | :--- | :--- | :--- | | Gains/losses on disposal of non-current assets | 33,082.91 CNY | 55,399.54 CNY | | Government grants recognized in current profit/loss | 892,500.87 CNY | 9,276,844.68 CNY | | Gains/losses from entrusted investments or asset management | 365,479.45 CNY | 842,191.78 CNY | | Other non-operating income and expenses apart from the above | 438,883.82 CNY | 77,305.11 CNY | | Other profit/loss items meeting the definition of non-recurring gains/losses | - | 143,220.99 CNY | | Less: Income tax impact | 116,040.04 CNY | 1,349,338.16 CNY | | Total | 1,613,907.01 CNY | 9,045,623.94 CNY | (III) Changes in Key Accounting Data and Financial Indicators and Their Reasons Net cash flow from operating activities increased by 51.85% YTD, primarily due to higher sales collections from revenue growth - Net cash flow from operating activities increased by 51.85% YTD, primarily due to increased sales collections resulting from revenue growth[8] Shareholder Information As of the reporting period, the company had 9,209 common shareholders, with Liu Xinli as the largest at 40.94%, indicating high equity concentration (I) Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings The company had 9,209 common shareholders; Liu Xinli held 40.94% of restricted shares, while Liu Luzeng led unrestricted shareholders - The total number of common shareholders at the end of the reporting period was 9,209[10] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Percentage (%) | Number of Restricted Shares Held | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Xinli | Domestic Natural Person | 26,198,803 | 40.94 | 26,198,803 | None | | Liu Zhaomin | Domestic Natural Person | 1,936,742 | 3.03 | 1,936,742 | None | | Liu Luzeng | Domestic Natural Person | 1,710,730 | 2.67 | 0 | None | | Wang Wentong | Domestic Natural Person | 1,697,518 | 2.65 | 0 | None | | Liu Xinzhi | Domestic Natural Person | 1,375,005 | 2.15 | 0 | None | | Industrial and Commercial Bank of China Co., Ltd. - GF Multi-Factor Flexible Allocation Mixed Securities Investment Fund | Other | 1,065,800 | 1.67 | 0 | None | | Tian Shuning | Domestic Natural Person | 986,138 | 1.54 | 0 | None | | Ge Yongle | Domestic Natural Person | 965,726 | 1.51 | 0 | None | | Zheng Zhihai | Domestic Natural Person | 910,029 | 1.42 | 0 | None | | Yantai Chunhua Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 887,000 | 1.39 | 0 | None | - Liu Zhaomin is the brother of Liu Xinli, the company's actual controller, chairman, and general manager's spouse; GF Xinde Investment Management Co., Ltd. is a wholly-owned subsidiary of GF Securities Co., Ltd[11] Other Reminders No other significant operational information requiring investor attention was identified during the reporting period - There is no other significant operational information in the reporting period that requires investors' attention[12] Quarterly Financial Statements This chapter presents unaudited consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements, with new accounting standard adjustments (I) Type of Audit Opinion The financial statements for the current quarter are unaudited - The financial statements for the current quarter are unaudited[12] (II) Financial Statements This section presents the consolidated and parent company balance sheets as of September 30, 2023, and income and cash flow statements for Q1-Q3 2023 Consolidated Balance Sheet As of September 30, 2023, consolidated total assets reached CNY 1.71 billion, up 3.06% from 2022 year-end, with total equity at CNY 1.51 billion Consolidated Balance Sheet Key Data (As of September 30, 2023) | Item | September 30, 2023 (CNY) | December 31, 2022 (CNY) | | :--- | :--- | :--- | | Cash and cash equivalents | 1,077,007,451.47 | 1,099,672,813.40 | | Inventories | 123,826,400.52 | 147,076,150.21 | | Total current assets | 1,308,581,305.11 | 1,307,447,191.14 | | Fixed assets | 318,789,259.91 | 295,135,524.87 | | Intangible assets | 45,029,746.41 | 27,151,715.63 | | Total non-current assets | 404,341,248.61 | 354,535,804.74 | | Total Assets | 1,712,922,553.72 | 1,661,982,995.88 | | Accounts payable | 76,652,243.84 | 98,628,162.51 | | Contract liabilities | 54,475,648.05 | 68,249,793.68 | | Total current liabilities | 179,637,619.79 | 217,087,361.77 | | Total non-current liabilities | 20,921,104.71 | 22,846,472.36 | | Total Liabilities | 200,558,724.50 | 239,933,834.13 | | Total owners' equity attributable to parent company | 1,512,363,829.22 | 1,422,049,161.75 | | Total Liabilities and Owners' Equity | 1,712,922,553.72 | 1,661,982,995.88 | Consolidated Income Statement Q1-Q3 2023 consolidated total operating revenue grew 21.82% to CNY 632.5 million, with net profit attributable to parent company shareholders up 20.68% Consolidated Income Statement Key Data (January-September 2023) | Item | Q1-Q3 2023 (CNY) | Q1-Q3 2022 (CNY) | | :--- | :--- | :--- | | Total operating revenue | 632,508,118.64 | 519,223,878.36 | | Total operating costs | 489,418,967.56 | 395,674,918.47 | | Including: Operating costs | 384,336,861.81 | 324,558,581.97 | | Selling expenses | 61,959,603.60 | 39,668,230.83 | | Administrative expenses | 27,784,615.19 | 26,368,033.63 | | R&D expenses | 22,189,419.71 | 15,289,353.29 | | Financial expenses | -11,860,861.07 | -13,524,201.02 | | Operating profit | 147,450,094.23 | 123,112,000.39 | | Total profit | 147,527,399.34 | 123,102,979.39 | | Net profit | 128,704,815.37 | 106,646,743.71 | | Net profit attributable to parent company shareholders | 128,704,815.37 | 106,646,743.71 | | Basic earnings per share (CNY/share) | 2.01 | 1.71 | | Diluted earnings per share (CNY/share) | 2.01 | 1.71 | Consolidated Cash Flow Statement Q1-Q3 2023 net operating cash flow surged 51.85% to CNY 139.7 million, while investing and financing activities resulted in net outflows Consolidated Cash Flow Statement Key Data (January-September 2023) | Item | Q1-Q3 2023 (CNY) | Q1-Q3 2022 (CNY) | | :--- | :--- | :--- | | Subtotal cash inflows from operating activities | 682,107,347.40 | 552,685,356.96 | | Subtotal cash outflows from operating activities | 542,391,809.41 | 460,676,051.05 | | Net cash flow from operating activities | 139,715,537.99 | 92,009,305.91 | | Subtotal cash inflows from investing activities | 10,912,668.36 | 7,024,940.21 | | Subtotal cash outflows from investing activities | 136,170,926.30 | 55,382,361.65 | | Net cash flow from investing activities | -125,258,257.94 | -48,357,421.44 | | Subtotal cash inflows from financing activities | - | 616,056,184.48 | | Subtotal cash outflows from financing activities | 38,400,000.00 | 44,903,665.00 | | Net cash flow from financing activities | -38,400,000.00 | 571,152,519.48 | | Net increase in cash and cash equivalents | -22,665,361.93 | 622,189,485.02 | | Cash and cash equivalents at end of period | 1,077,007,451.47 | 1,036,364,279.18 | Parent Company Balance Sheet As of September 30, 2023, parent company total assets were CNY 1.72 billion, a slight increase from 2022 year-end, with total equity at CNY 1.52 billion Parent Company Balance Sheet Key Data (As of September 30, 2023) | Item | September 30, 2023 (CNY) | December 31, 2022 (CNY) | | :--- | :--- | :--- | | Cash and cash equivalents | 1,076,787,013.29 | 1,099,598,819.21 | | Total current assets | 1,311,170,067.92 | 1,310,790,767.06 | | Total non-current assets | 408,380,905.50 | 360,747,474.20 | | Total Assets | 1,719,550,973.42 | 1,671,538,241.26 | | Total current liabilities | 179,606,917.42 | 218,011,363.57 | | Total non-current liabilities | 20,921,104.71 | 22,846,472.36 | | Total Liabilities | 200,528,022.13 | 240,857,835.93 | | Total owners' equity | 1,519,022,951.29 | 1,430,680,405.33 | | Total Liabilities and Owners' Equity | 1,719,550,973.42 | 1,671,538,241.26 | Parent Company Income Statement Q1-Q3 2023 parent company operating revenue reached CNY 632.6 million, with net profit attributable to shareholders at CNY 126.7 million Parent Company Income Statement Key Data (January-September 2023) | Item | Q1-Q3 2023 (CNY) | Q1-Q3 2022 (CNY) | | :--- | :--- | :--- | | Operating revenue | 632,576,925.95 | 519,212,778.41 | | Operating costs | 384,413,218.89 | 324,733,211.85 | | Selling expenses | 63,563,144.83 | 40,303,181.51 | | Administrative expenses | 26,308,842.59 | 24,708,327.91 | | R&D expenses | 22,189,419.71 | 15,289,353.29 | | Financial expenses | -11,862,204.21 | -13,527,419.72 | | Operating profit | 146,084,557.55 | 124,181,188.84 | | Total profit | 145,570,735.59 | 124,172,167.84 | | Net profit | 126,732,693.86 | 107,696,427.17 | Parent Company Cash Flow Statement Q1-Q3 2023 parent company net operating cash flow significantly increased to CNY 139.6 million, with net outflows from investing and financing activities Parent Company Cash Flow Statement Key Data (January-September 2023) | Item | Q1-Q3 2023 (CNY) | Q1-Q3 2022 (CNY) | | :--- | :--- | :--- | | Net cash flow from operating activities | 139,560,340.00 | 91,827,093.25 | | Net cash flow from investing activities | -125,249,503.94 | -48,358,368.06 | | Net cash flow from financing activities | -38,400,000.00 | 571,152,519.48 | | Net increase in cash and cash equivalents | -22,811,805.92 | 622,006,325.74 | | Cash and cash equivalents at end of period | 1,076,787,013.29 | 1,036,157,041.84 | Adjustments to Opening Financial Statements Due to First-Time Adoption of New Accounting Standards or Interpretations from 2023 Effective January 1, 2023, the company adopted new accounting standards for deferred income tax, resulting in adjustments to opening consolidated and parent company balance sheets Consolidated Balance Sheet (Adjustments) Consolidated balance sheet opening balances were adjusted due to new accounting standards, increasing deferred tax assets by CNY 557,364.73 and total equity by CNY 9,852.10 - The company and its subsidiaries adopted the accounting treatment provisions in Interpretation No. 16 of the Accounting Standards for Business Enterprises, issued by the Ministry of Finance, regarding deferred income tax related to assets and liabilities arising from a single transaction, effective January 1, 2023, which no longer applies the initial recognition exemption[34] Consolidated Balance Sheet Adjustments (January 1, 2023) | Item | December 31, 2022 (CNY) | January 1, 2023 (CNY) | Adjustment (CNY) | | :--- | :--- | :--- | :--- | | Deferred tax assets | 1,889,849.85 | 2,447,214.58 | 557,364.73 | | Total Assets | 1,661,982,995.88 | 1,662,540,360.61 | 557,364.73 | | Deferred tax liabilities | - | 547,512.63 | 547,512.63 | | Total Liabilities | 239,933,834.13 | 240,481,346.76 | 547,512.63 | | Surplus reserve | 84,310,524.70 | 84,311,509.91 | 985.21 | | Retained earnings | 618,790,080.62 | 618,798,947.51 | 8,866.89 | | Total owners' equity attributable to parent company | 1,422,049,161.75 | 1,422,059,013.85 | 9,852.10 | | Total Liabilities and Owners' Equity | 1,661,982,995.88 | 1,662,540,360.61 | 557,364.73 | Parent Company Balance Sheet (Adjustments) Parent company balance sheet opening balances were adjusted due to new accounting standards, increasing deferred tax assets by CNY 557,364.73 and total equity by CNY 9,852.10 Parent Company Balance Sheet Adjustments (January 1, 2023) | Item | December 31, 2022 (CNY) | January 1, 2023 (CNY) | Adjustment (CNY) | | :--- | :--- | :--- | :--- | | Deferred tax assets | 1,941,554.23 | 2,498,918.96 | 557,364.73 | | Total Assets | 1,671,538,241.26 | 1,672,095,605.99 | 557,364.73 | | Deferred tax liabilities | - | 547,512.63 | 547,512.63 | | Total Liabilities | 240,857,835.93 | 241,405,348.56 | 547,512.63 | | Surplus reserve | 84,310,524.70 | 84,311,509.91 | 985.21 | | Retained earnings | 627,530,583.58 | 627,539,450.47 | 8,866.89 | | Total owners' equity | 1,430,680,405.33 | 1,430,690,257.43 | 9,852.10 | | Total Liabilities and Owners' Equity | 1,671,538,241.26 | 1,672,095,605.99 | 557,364.73 |