合盛硅业(603260) - 2021 Q1 - 季度财报

Important Notice The company's management ensures the truthfulness, accuracy, and completeness of this quarterly report, which remains unaudited Report Authenticity and Audit Status Management confirms the report's accuracy and completeness, noting it has not been audited - The company's board of directors, supervisory board, and senior management ensure no false records, misleading statements, or major omissions in the report[3] - This company's Q1 2021 report is unaudited[3] Company Overview This section provides an overview of the company's fundamental situation, including key financial data and shareholder information Key Financial Data In Q1 2021, the company achieved explosive growth, with revenue increasing by 76.21% and net profit attributable to shareholders surging by 261.30%, driven by higher sales volume and prices 2021 Q1 Key Financial Data and YoY Changes | Indicator | Current Reporting Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 3,275,925,372.28 | 1,859,113,389.18 | 76.21% | | Net Profit Attributable to Shareholders (Yuan) | 900,845,269.93 | 249,333,578.21 | 261.30% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (Yuan) | 897,365,659.66 | 242,103,140.76 | 270.65% | | Net Cash Flow from Operating Activities (Yuan) | 301,642,930.35 | 220,196,941.86 | 36.99% | | Basic Earnings Per Share (Yuan/share) | 0.96 | 0.27 | 255.56% | | Weighted Average Return on Net Assets (%) | 8.89% | 2.89% | Increased by 6.00 percentage points | - Total non-recurring gains and losses for the period amounted to 3.48 million Yuan, primarily including government subsidies and non-operating income/expenses[6][7] Shareholder Information As of the end of the reporting period, the company had 18,924 shareholders, with a highly concentrated equity structure where the top four shareholders (Ningbo Hesheng Group and Luo family members) collectively hold over 83% as parties acting in concert - Total number of shareholders at the end of the reporting period was 18,924[8] Top Five Shareholders' Shareholding | Shareholder Name | Number of Shares Held | Shareholding Ratio (%) | | :--- | :--- | :--- | | Ningbo Hesheng Group Co., Ltd. | 546,647,073 | 58.28 | | Fidelity Industrial Company | 109,813,472 | 11.71 | | Luo Yi | 70,389,831 | 7.50 | | Luo Yedong | 57,302,631 | 6.11 | | Luo Liguo | 10,558,753 | 1.13 | - Ningbo Hesheng Group Co., Ltd., Luo Liguo, Luo Yi, and Luo Yedong are parties acting in concert; Luo Liguo is the actual controller, and Luo Yi and Luo Yedong are his daughter and son, respectively[9] Significant Matters This section details significant events and their impact, including major changes in financial statement items and the progress of the non-public issuance of A-shares Analysis of Significant Changes in Financial Statements and Indicators During the reporting period, several financial indicators underwent significant changes, with accounts receivable and prepayments increasing due to sales and procurement, revenue and costs rising from volume and price increases, and financing cash flow surging due to increased financing receipts Balance Sheet Major Item Changes and Reasons | Item | Change (%) | Reason | | :--- | :--- | :--- | | Monetary Funds | 79.15% | Primarily due to increased margin deposits for bank acceptances | | Accounts Receivable | 83.50% | Primarily due to increased sales revenue | | Prepayments | 150.72% | Primarily due to increased prepayments for materials | | Contract Liabilities | 83.45% | Primarily due to increased advance receipts for goods | Income Statement Major Item Changes and Reasons | Item | Change (%) | Reason | | :--- | :--- | :--- | | Operating Revenue | 76.21% | Primarily due to increased sales volume and higher sales prices | | Operating Cost | 49.26% | Primarily due to increased sales volume, and reclassification of transportation costs to operating costs | | Selling Expenses | -89.34% | Primarily due to reclassification of transportation costs to operating costs under new revenue recognition standards | | Research and Development Expenses | 49.11% | Primarily due to increased R&D investment | Cash Flow Statement Major Item Changes and Reasons | Item | Change (%) | Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 36.99% | Primarily due to increased cash received from sales of goods | | Net Cash Flow from Investing Activities | Not Applicable | Primarily due to increased capital expenditure | | Net Cash Flow from Financing Activities | 1,110.50% | Primarily due to increased financing receipts | Progress of Non-Public Issuance of A-Shares The company is systematically advancing its 2020 non-public issuance of A-shares, aiming to raise up to 2.5 billion Yuan from specific investors (Luo Yi, Luo Yedong) to supplement working capital, a plan approved by the CSRC on March 8, 2021, which will enhance the company's financial strength and optimize its capital structure - The company plans a non-public issuance of A-shares to raise no more than 2.5 billion Yuan to supplement working capital[13] - After adjustment, the issuance price for this non-public offering is 18.65 Yuan/share, with a maximum issuance quantity of 134,048,257 shares[13] - On March 8, 2021, the company received the "Approval for Non-Public Issuance of Shares by Hesheng Silicon Industry Co., Ltd." from the China Securities Regulatory Commission (CSRC), signifying regulatory approval for this matter[13] Appendix This section includes the company's financial statements for Q1 2021 and explanations regarding the first-time adoption of the new lease standard Financial Statements This chapter contains the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2021, reflecting the financial position at period-end, operating results, and cash flows during the reporting period Consolidated Balance Sheet This section presents the consolidated balance sheet, providing a comprehensive view of the company's assets, liabilities, and equity as of March 31, 2021 Consolidated Balance Sheet Summary (March 31, 2021 vs December 31, 2020) | Item (Unit: Yuan) | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Assets | 21,510,677,235.50 | 20,002,221,427.22 | | Total Current Assets | 5,431,854,448.97 | 4,294,433,231.54 | | Total Non-current Assets | 16,078,822,786.53 | 15,707,788,195.68 | | Total Liabilities | 10,820,776,760.53 | 10,215,992,502.33 | | Total Current Liabilities | 8,615,413,671.89 | 7,900,182,167.30 | | Total Non-current Liabilities | 2,205,363,088.64 | 2,315,810,335.03 | | Total Owners' Equity | 10,689,900,474.97 | 9,786,228,924.89 | | Total Owners' Equity Attributable to Parent Company | 10,588,828,742.79 | 9,685,841,470.53 | Parent Company Balance Sheet This section presents the parent company's balance sheet, detailing its individual financial position as of March 31, 2021 Parent Company Balance Sheet Summary (March 31, 2021 vs December 31, 2020) | Item (Unit: Yuan) | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Assets | 9,189,639,937.28 | 8,581,447,514.53 | | Total Liabilities | 4,927,739,995.41 | 4,417,597,728.71 | | Total Owners' Equity | 4,261,899,941.87 | 4,163,849,785.82 | Consolidated Income Statement This section presents the consolidated income statement, outlining the company's overall financial performance for Q1 2021 Consolidated Income Statement Summary (Q1 2021 vs Q1 2020) | Item (Unit: Yuan) | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Total Operating Revenue | 3,275,925,372.28 | 1,859,113,389.18 | | Total Operating Costs | 2,197,666,291.92 | 1,584,536,371.08 | | Operating Profit | 1,057,143,630.20 | 271,127,984.30 | | Total Profit | 1,059,536,308.74 | 274,485,462.70 | | Net Profit | 901,529,547.75 | 249,548,872.45 | | Net Profit Attributable to Parent Company Shareholders | 900,845,269.93 | 249,333,578.21 | Parent Company Income Statement This section presents the parent company's income statement, detailing its individual financial performance for Q1 2021 Parent Company Income Statement Summary (Q1 2021 vs Q1 2020) | Item (Unit: Yuan) | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Operating Revenue | 1,163,938,336.21 | 409,302,565.54 | | Operating Profit | 123,534,887.83 | 25,454,527.09 | | Total Profit | 122,040,839.91 | 22,439,043.53 | | Net Profit | 96,684,961.60 | 18,681,325.28 | Consolidated Cash Flow Statement This section presents the consolidated cash flow statement, summarizing the cash inflows and outflows from operating, investing, and financing activities for Q1 2021 Consolidated Cash Flow Statement Summary (Q1 2021 vs Q1 2020) | Item (Unit: Yuan) | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 301,642,930.35 | 220,196,941.86 | | Net Cash Flow from Investing Activities | -373,566,332.40 | -155,040,903.25 | | Net Cash Flow from Financing Activities | 196,304,588.05 | 16,216,814.93 | | Net Increase in Cash and Cash Equivalents | 125,336,671.05 | 82,479,108.97 | Parent Company Cash Flow Statement This section presents the parent company's cash flow statement, detailing its individual cash flows from operating, investing, and financing activities for Q1 2021 Parent Company Cash Flow Statement Summary (Q1 2021 vs Q1 2020) | Item (Unit: Yuan) | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 48,230,345.84 | 65,616,347.41 | | Net Cash Flow from Investing Activities | -81,076,801.51 | -276,315,535.58 | | Net Cash Flow from Financing Activities | 64,692,213.30 | 135,520,406.14 | | Net Increase in Cash and Cash Equivalents | 31,903,786.21 | -74,676,999.65 | Adjustments for First-Time Adoption of New Lease Standard in 2021 Effective January 1, 2021, the company adopted the revised "Accounting Standard for Business Enterprises No. 21 – Leases," leading to retrospective adjustments to the opening financial statements, primarily reclassifying finance-leased fixed assets as right-of-use assets and recognizing corresponding lease liabilities - The company adopted the Ministry of Finance's revised "Accounting Standard for Business Enterprises No. 21 – Leases" starting January 1, 2021[38] - The change in accounting policy resulted in reclassification of relevant asset and liability items in the opening balances, for example, a decrease of approximately 380 million Yuan in fixed assets and a corresponding increase of approximately 380 million Yuan in right-of-use assets in the consolidated statements; similarly, a decrease of approximately 74 million Yuan in long-term payables and a corresponding increase of approximately 74 million Yuan in lease liabilities[36][37][38]