海容冷链(603187) - 2020 Q1 - 季度财报

Important Notice This section confirms the accuracy and completeness of the report and states that it is unaudited Statement on Report Authenticity The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assume corresponding legal liabilities; this quarterly report is unaudited - Management guarantees the truthfulness, accuracy, and completeness of this report[8] - This company's Q1 2020 report is unaudited[8] Company Overview This section provides key financial data and shareholder information for the company Key Financial Data In Q1 2020, the company's operating revenue was 385.25 million CNY, a 3.29% year-over-year decrease; net profit attributable to shareholders was 48.66 million CNY, a 1.53% year-over-year decrease; total assets increased by 4.58% from the end of the previous year; net cash flow from operating activities was -54.34 million CNY Key Financial Data for Q1 2020 | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 385,254,485.41 | 398,344,383.70 | -3.29 | | Net Profit Attributable to Shareholders (CNY) | 48,663,377.33 | 49,418,751.40 | -1.53 | | Net Cash Flow from Operating Activities (CNY) | -54,342,709.46 | -19,365,916.77 | Not Applicable | | Basic EPS (CNY/share) | 0.31 | 0.32 | -3.13 | | Weighted Average ROE (%) | 3.27 | 3.75 | Decreased by 0.48 percentage points | | Indicator | End of Current Period | End of Prior Year | Period-end vs Prior Year-end Change (%) | | Total Assets (CNY) | 2,342,703,562.62 | 2,240,129,547.69 | 4.58 | | Net Assets Attributable to Shareholders (CNY) | 1,447,035,229.35 | 1,463,500,845.52 | -1.13 | - In April 2020, the company implemented a capital reserve to share capital increase plan, converting 4 shares for every 10 shares, increasing total share capital to 158,480,000 shares[5] Non-recurring Gains and Losses | Item | Amount for Current Period (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -452.93 | | Net Non-operating Income and Expenses | -972,299.12 | | Income Tax Impact | 145,912.76 | | Total | -826,839.29 | Shareholder Information As of the end of the reporting period, the company had 13,438 shareholders; Chairman Shao Wei is the largest shareholder with a 24.7282% stake; there are no related party relationships or concerted actions among the top ten shareholders - As of the end of the reporting period, the company had a total of 13,438 shareholders[10] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | | :--- | :--- | :--- | | Shao Wei | 27,992,300 | 24.7282 | | Boxin Youxuan (Tianjin) Equity Investment Fund Partnership | 5,663,000 | 5.0027 | | Jiang Chunrui | 4,926,600 | 4.3521 | | Zhao Dingyong | 4,478,775 | 3.9565 | | Wang Cunjiang | 4,478,775 | 3.9565 | | Ma Hongkui | 4,478,775 | 3.9565 | | Zhao Qi | 4,450,775 | 3.9318 | | Wang Yanrong | 2,597,700 | 2.2948 | | Lin Bochun | 2,345,680 | 2.0722 | | Yuan Peng | 1,231,650 | 1.0880 | Significant Matters This section details significant changes in financial statement items, progress on key initiatives, and commitments Analysis of Significant Changes in Key Financial Statement Items and Indicators This section analyzes significant changes in balance sheet, income statement, and cash flow statement items, primarily influenced by factors such as delayed order shipments due to the pandemic, exchange rate fluctuations, government subsidies, subsidiary capital contributions, and share-based payment expenses Significant Changes in Balance Sheet Items Key balance sheet changes include a 37.50% increase in accounts receivable due to concentrated shipments in March, a 92.79% increase in other receivables from land use right payments, a 185.06% increase in other payables due to cash dividend accrual, and a 40.00% increase in share capital from capital reserve conversion Major Balance Sheet Item Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Accounts Receivable | 37.50 | Domestic logistics controls affected, some orders delayed to March for concentrated shipment | | Receivables Financing | -94.36 | Decrease in unendorsed bank acceptance bills | | Other Receivables | 92.79 | Increase in payments for construction land use rights | | Other Current Assets | -98.38 | Decrease in VAT input tax credit at period-end | | Employee Compensation Payable | -39.57 | Annual performance bonuses accrued at year-end have been paid | | Taxes Payable | 54.34 | Increase in corporate income tax and individual income tax payable | | Other Payables | 185.06 | Accrual of cash dividends based on shareholders' meeting resolution | | Deferred Income | 80.89 | Increase in government subsidies related to assets received | | Share Capital | 40.00 | Capital reserve converted to share capital | | Minority Interests | 116.08 | Controlling subsidiary shareholders' paid-in registered capital | Significant Changes in Income Statement Items Key income statement changes include a 43.92% decrease in R&D expenses due to COVID-19 related project delays, a 406.56% decrease in financial expenses due to exchange gains, a 725.72% increase in other income from government subsidies, and a 192.85% increase in non-operating expenses due to anti-epidemic donations Major Income Statement Item Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Taxes and Surcharges | -36.07 | Enjoyment of tax preferential policies, reduction in land use tax and property tax | | Administrative Expenses | 49.26 | New recognition of restricted stock share-based payment expenses and increase in management salaries | | Research and Development Expenses | -43.92 | Impacted by the COVID-19 pandemic, progress of some R&D projects delayed | | Financial Expenses | -406.56 | Exchange rate fluctuations led to increased exchange gains | | Other Income | 725.72 | Increase in government subsidies related to production and operations received | | Non-operating Expenses | 192.85 | Donation of 1 million CNY to the Charity Federation for epidemic prevention and control | Significant Changes in Cash Flow Statement Items Key cash flow statement changes include a year-over-year decrease in net cash flow from operating activities due to reduced cash inflows from the pandemic, a significant decrease in cash outflows from investing activities as prior period bank wealth management funds were recovered, and a shift from positive to negative cash flow from financing activities due to increased acceptance bill deposits Major Cash Flow Statement Item Changes | Item | Amount for Current Period (CNY) | Prior Year Period (CNY) | Primary Reason | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -54,342,709.46 | -19,365,916.77 | Affected by the COVID-19 pandemic, operating cash inflows decreased | | Net Cash Flow from Investing Activities | -39,407,712.01 | -463,322,824.53 | Prior bank wealth management funds have been recovered, leading to a decrease in cash paid for investments | | Net Cash Flow from Financing Activities | -34,780,327.72 | 35,277,500.00 | Increase in acceptance bill deposits paid | Progress of Significant Matters The company continues to advance its public offering of A-share convertible corporate bonds, having adjusted the total fundraising amount from 570 million CNY to 500.127 million CNY based on regulatory feedback and completed responses to the CSRC's feedback, preparing for subsequent issuance review committee meetings - The company's application for a public offering of A-share convertible corporate bonds has been accepted by the China Securities Regulatory Commission (CSRC), and responses to the first round of feedback have been completed[18][19][20] - In March 2020, the company reduced the total convertible bond fundraising amount from no more than 570 million CNY to no more than 500.127 million CNY[19] - As of April 22, 2020, the company had submitted its response letter to the CSRC regarding preparations for the issuance review committee meeting[20] Commitments and Forecasts During the reporting period, the company had no unfulfilled commitments beyond their due date and issued no warnings regarding potential cumulative net losses or significant changes in net profit from the beginning of the year to the end of the next reporting period compared to the prior year - There were no unfulfilled commitments beyond their due date within the reporting period[21] - The company has not forecasted a cumulative net loss or significant change in net profit from the beginning of the year to the end of the next reporting period[21] Appendix This appendix contains the company's unaudited consolidated and parent company financial statements for Q1 2020 Financial Statements This appendix includes the company's unaudited consolidated and parent company financial statements for Q1 2020, specifically the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2020, the company's total assets were 2.34 billion CNY, total liabilities were 890.32 million CNY, and total equity attributable to parent company owners was 1.45 billion CNY Consolidated Balance Sheet Summary (March 31, 2020) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 2,342,703,562.62 | | Total Liabilities | 890,323,239.23 | | Total Equity Attributable to Parent Company Owners | 1,447,035,229.35 | | Total Liabilities and Equity | 2,342,703,562.62 | Parent Company Balance Sheet As of March 31, 2020, the parent company's total assets were 2.33 billion CNY, total liabilities were 890.58 million CNY, and total owner's equity was 1.44 billion CNY Parent Company Balance Sheet Summary (March 31, 2020) | Item | Amount (CNY) | | :--- | :--- | | Total Assets | 2,334,430,546.15 | | Total Liabilities | 890,579,659.08 | | Total Owner's Equity | 1,443,850,887.07 | | Total Liabilities and Owner's Equity | 2,334,430,546.15 | Consolidated Income Statement In Q1 2020, the company achieved total operating revenue of 385.25 million CNY, operating profit of 58.55 million CNY, net profit of 48.89 million CNY, with 48.66 million CNY attributable to parent company shareholders Consolidated Income Statement Summary (Jan-Mar 2020) | Item | Amount (CNY) | | :--- | :--- | | Total Operating Revenue | 385,254,485.41 | | Operating Profit | 58,547,172.81 | | Total Profit | 57,574,420.76 | | Net Profit | 48,889,855.48 | | Net Profit Attributable to Parent Company Shareholders | 48,663,377.33 | Parent Company Income Statement In Q1 2020, the parent company achieved operating revenue of 384.70 million CNY, operating profit of 56.68 million CNY, and net profit of 47.35 million CNY Parent Company Income Statement Summary (Jan-Mar 2020) | Item | Amount (CNY) | | :--- | :--- | | Operating Revenue | 384,695,824.34 | | Operating Profit | 56,681,779.10 | | Total Profit | 55,709,027.35 | | Net Profit | 47,352,673.25 | Consolidated Cash Flow Statement In Q1 2020, the company's net cash flow from operating activities was -54.34 million CNY, from investing activities was -39.41 million CNY, from financing activities was -34.78 million CNY, and the period-end cash and cash equivalents balance was 656.29 million CNY Consolidated Cash Flow Statement Summary (Jan-Mar 2020) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -54,342,709.46 | | Net Cash Flow from Investing Activities | -39,407,712.01 | | Net Cash Flow from Financing Activities | -34,780,327.72 | | Net Increase in Cash and Cash Equivalents | -128,446,525.52 | | Period-end Cash and Cash Equivalents Balance | 656,291,538.04 | Parent Company Cash Flow Statement In Q1 2020, the parent company's net cash flow from operating activities was -33.16 million CNY, from investing activities was -39.41 million CNY, from financing activities was -37.43 million CNY, and the period-end cash and cash equivalents balance was 569.33 million CNY Parent Company Cash Flow Statement Summary (Jan-Mar 2020) | Item | Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -33,164,133.28 | | Net Cash Flow from Investing Activities | -39,407,712.01 | | Net Cash Flow from Financing Activities | -37,425,327.72 | | Net Increase in Cash and Cash Equivalents | -109,923,101.29 | | Period-end Cash and Cash Equivalents Balance | 569,331,708.69 | Explanation of Adjustments for First-Time Adoption of New Accounting Standards The company did not adopt new revenue or lease accounting standards for the first time in its Q1 2020 report, thus no related adjustments were made to the financial statements - The company did not adopt new revenue or lease accounting standards for the first time during the reporting period, so there are no related adjustment matters[41] Audit Report This quarterly report is unaudited - This quarterly financial report is unaudited[41]