浙江鼎力(603338) - 2022 Q3 - 季度财报

Report Overview Important Notice This section highlights the legal responsibility of management for the report's accuracy and confirms the unaudited status of the quarterly financial statements - The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[3] - The financial statements for this quarter are unaudited[3] Key Financial Data Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue decreased by 13.71% year-over-year, while net profit attributable to shareholders increased by 35.51%; year-to-date, operating revenue grew by 4.32%, net profit by 20.08%, and net cash flow from operating activities surged by 1716.32% Key Accounting Data and Financial Indicators for Q3 2022 and Year-to-Date | Item | Current Period (CNY) | YoY Change (%) | Year-to-Date (CNY) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,223,673,954.97 | -13.71 | 4,168,170,827.97 | 4.32 | | Net Profit Attributable to Shareholders | 302,407,846.41 | 35.51 | 876,470,208.97 | 20.08 | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items | 285,911,329.94 | 31.23 | 842,134,354.78 | 18.90 | | Net Cash Flow from Operating Activities | N/A | N/A | 361,375,535.92 | 1,716.32 | | Basic Earnings Per Share (CNY/share) | 0.60 | 30.43 | 1.73 | 15.33 | | Diluted Earnings Per Share (CNY/share) | 0.60 | 30.43 | 1.73 | 15.33 | | Weighted Average Return on Net Assets (%) | 4.62 | Decrease 0.70 percentage points | 13.82 | Decrease 4.18 percentage points | | Period-End Indicators | End of Current Period (CNY) | | End of Previous Year (CNY) | Change from Previous Year-End (%) | | Total Assets | 10,810,636,773.60 | | 9,574,469,629.61 | 12.91 | | Owner's Equity Attributable to Shareholders | 6,686,491,245.82 | | 5,978,168,759.07 | 11.85 | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses were CNY 16,496,516.47, and CNY 34,335,854.19 year-to-date, primarily from government grants and fair value changes of financial assets Non-Recurring Gains and Losses Items and Amounts | Item | Current Period Amount (CNY) | Year-to-Date Amount (CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -170.56 | 16,318.08 | | Government Grants Included in Current Period P&L | 14,999,876.47 | 35,380,055.67 | | Gains/Losses from Fair Value Changes of Financial Assets and Investment Income | 4,278,936.38 | 4,693,456.93 | | Other Non-Operating Income and Expenses | 139,744.43 | 337,538.74 | | Less: Income Tax Impact | -2,921,870.25 | -6,091,515.23 | | Total | 16,496,516.47 | 34,335,854.19 | Analysis of Changes in Key Financial Indicators This report period saw significant growth in net profit attributable to shareholders and non-recurring net profit, driven by market structure adjustments, increased overseas revenue, reduced shipping and raw material costs, and higher exchange gains from RMB depreciation - Net profit attributable to shareholders and net profit excluding non-recurring items increased by 35.51% and 31.23% respectively this period, primarily due to market structure adjustments, higher overseas revenue and gross margins, reduced Q3 shipping and raw material costs, and increased exchange gains from RMB depreciation[7] - Both basic and diluted earnings per share increased by 30.43% this period, mainly driven by the increase in net profit[7] - Year-to-date net cash flow from operating activities significantly increased by 1,716.32%, primarily due to increased cash received from sales of goods[7] Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 37,345 common shareholders; Xu Shugen is the largest shareholder with 45.53%, and Deqing Zhongding Equity Investment Management Co., Ltd. is the second largest with 11.57%, with Xu Shugen holding 39.69% of the latter - At the end of the reporting period, the total number of common shareholders was 37,345, and the total number of preferred shareholders with restored voting rights was 0[8] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Holding Percentage (%) | | :--- | :--- | :--- | :--- | | Xu Shugen | Domestic Natural Person | 230,564,600 | 45.53 | | Deqing Zhongding Equity Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 58,589,180 | 11.57 | | Hong Kong Securities Clearing Company Limited | Other | 32,909,951 | 6.50 | | Shen Zhikang | Domestic Natural Person | 7,013,184 | 1.39 | | Shanghai Hongshang Asset Management Center (Limited Partnership) - Hongshang Asset Hongli No. 2 Private Securities Investment Fund | Other | 6,679,914 | 1.32 | | Bank of Communications Co., Ltd. - Huaan Strategy Preferred Mixed Securities Investment Fund | Other | 3,530,900 | 0.70 | | Industrial and Commercial Bank of China Co., Ltd. - Minsheng Jiayin Quality Leading Mixed Securities Investment Fund | Other | 3,359,878 | 0.66 | | National Social Security Fund 110 Portfolio | Other | 3,033,327 | 0.60 | | Shen Yunlei | Domestic Natural Person | 3,022,454 | 0.60 | | Qianhai Life Insurance Co., Ltd. - Participating Insurance Products | Other | 2,399,975 | 0.47 | - Xu Shugen holds 39.69% equity in Deqing Zhongding Equity Investment Management Co., Ltd., indicating an associated relationship[9] Other Reminders Other Reminders There is no other important operating information during the reporting period that requires investor attention - There is no other important operating information during the reporting period that requires investor attention[10] Quarterly Financial Statements Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[11] Consolidated Balance Sheet As of September 30, 2022, total assets reached CNY 10.81 billion, up 12.91% from the previous year-end, with total liabilities at CNY 4.12 billion and total owner's equity at CNY 6.69 billion Key Balance Sheet Data (As of September 30, 2022) | Item | September 30, 2022 (CNY) | December 31, 2021 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 3,087,845,111.47 | 3,514,333,230.83 | -12.20 | | Financial Assets Held for Trading | 280,000,000.00 | 50,000,000.00 | 460.00 | | Accounts Receivable | 2,329,566,142.65 | 1,620,191,873.61 | 43.79 | | Inventories | 1,610,575,399.66 | 1,387,177,645.14 | 16.10 | | Total Current Assets | 8,144,189,833.56 | 7,393,839,758.87 | 10.15 | | Fixed Assets | 937,113,189.22 | 827,846,254.85 | 13.19 | | Construction in Progress | 331,885,794.70 | 114,608,782.86 | 189.58 | | Intangible Assets | 382,389,328.65 | 233,752,997.20 | 63.59 | | Total Non-Current Assets | 2,666,446,940.04 | 2,180,629,870.74 | 22.28 | | Total Assets | 10,810,636,773.60 | 9,574,469,629.61 | 12.91 | | Short-Term Borrowings | 460,000,000.00 | 449,347,624.01 | 2.37 | | Notes Payable | 1,059,369,611.08 | 677,113,553.25 | 56.46 | | Accounts Payable | 1,046,070,381.22 | 1,191,094,646.49 | -12.18 | | Total Current Liabilities | 3,525,356,232.89 | 3,144,359,912.80 | 12.12 | | Long-Term Borrowings | 444,357,905.36 | 301,705,928.38 | 47.29 | | Total Non-Current Liabilities | 598,789,294.89 | 451,940,957.74 | 32.50 | | Total Liabilities | 4,124,145,527.78 | 3,596,300,870.54 | 14.68 | | Total Equity Attributable to Parent Company Shareholders | 6,686,491,245.82 | 5,978,168,759.07 | 11.85 | | Total Owner's Equity | 6,686,491,245.82 | 5,978,168,759.07 | 11.85 | Consolidated Income Statement In the first three quarters of 2022, total operating revenue reached CNY 4.17 billion, up 4.32% year-over-year, with net profit at CNY 876 million, up 20.08%, driven by exchange gains and increased R&D expenses Key Income Statement Data (First Three Quarters of 2022) | Item | First Three Quarters of 2022 (CNY) | First Three Quarters of 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,168,170,827.97 | 3,995,542,385.72 | 4.32 | | Total Operating Costs | 3,170,244,944.87 | 3,125,188,082.99 | 1.44 | | Of which: Operating Cost | 2,948,937,719.70 | 2,866,977,533.26 | 2.86 | | Selling Expenses | 121,988,266.67 | 87,937,588.01 | 38.72 | | Administrative Expenses | 102,397,060.92 | 70,023,486.82 | 46.23 | | R&D Expenses | 149,503,787.00 | 82,576,973.38 | 81.05 | | Financial Expenses | -161,594,557.06 | 10,173,309.44 | -1688.89 | | Operating Profit | 1,039,552,076.02 | 863,682,372.44 | 20.37 | | Total Profit | 1,039,889,614.76 | 862,855,972.80 | 20.52 | | Income Tax Expense | 163,419,405.79 | 132,951,088.01 | 22.92 | | Net Profit | 876,470,208.97 | 729,904,884.79 | 20.08 | | Net Profit Attributable to Parent Company Shareholders | 876,470,208.97 | 729,904,884.79 | 20.08 | | Basic Earnings Per Share (CNY/share) | 1.73 | 1.50 | 15.33 | | Diluted Earnings Per Share (CNY/share) | 1.73 | 1.50 | 15.33 | - Financial expenses shifted from CNY 10,173,309.44 in the prior period to -CNY 161,594,557.06 this period, primarily due to increased exchange gains from RMB depreciation against the USD[17][7] - R&D expenses increased by 81.05% year-over-year, indicating a significant increase in the company's R&D investment[17] Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities surged by 1716.32% to CNY 361 million, while net cash flow from investing activities turned negative at -CNY 802 million due to increased capital expenditures and investments Key Cash Flow Statement Data (First Three Quarters of 2022) | Item | First Three Quarters of 2022 (CNY) | First Three Quarters of 2021 (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Subtotal Cash Inflows from Operating Activities | 4,804,697,546.10 | 3,413,893,507.07 | 40.74 | | Subtotal Cash Outflows from Operating Activities | 4,443,322,010.18 | 3,393,997,477.68 | 30.92 | | Net Cash Flow from Operating Activities | 361,375,535.92 | 19,896,029.39 | 1,716.32 | | Subtotal Cash Inflows from Investing Activities | 1,009,158,609.92 | 1,354,790,189.16 | -25.51 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 575,474,739.76 | 267,904,805.83 | 114.80 | | Cash Paid for Investments | 1,198,869,339.47 | 620,882,897.99 | 93.09 | | Subtotal Cash Outflows from Investing Activities | 1,810,974,172.65 | 888,787,703.82 | 103.76 | | Net Cash Flow from Investing Activities | -801,815,562.73 | 466,002,485.34 | -272.10 | | Subtotal Cash Inflows from Financing Activities | 1,227,725,000.00 | 1,141,100,000.00 | 7.59 | | Cash Paid for Debt Repayment | 1,037,792,247.53 | 1,087,710,120.34 | -4.59 | | Cash Paid for Dividends, Profit Distribution, or Interest Payments | 188,917,932.72 | 149,411,568.01 | 26.44 | | Subtotal Cash Outflows from Financing Activities | 1,227,297,275.52 | 1,238,012,097.83 | -0.87 | | Net Cash Flow from Financing Activities | 427,724.48 | -96,912,097.83 | 100.44 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 16,679,372.97 | -4,169,018.34 | -500.00 | | Net Increase in Cash and Cash Equivalents | -423,332,929.36 | 384,817,398.56 | -209.99 | | Cash and Cash Equivalents at End of Period | 3,085,946,511.47 | 1,573,245,092.14 | 96.15 | - Net cash flow from operating activities significantly increased by 1,716.32%, primarily due to increased cash received from sales of goods[7][21] - Net cash flow from investing activities shifted from a positive value in the prior period to a negative value this period, mainly due to a significant increase in cash paid for the acquisition of fixed assets, intangible assets, other long-term assets, and investments[21]