基蛋生物(603387) - 2020 Q1 - 季度财报

Important Notice The board, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, which remains 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[6] - All directors attended the board meeting to review the quarterly report[6] - This first quarter report is unaudited[6] Company Profile This section provides an overview of the company's key financial data and shareholder information as of the reporting period Key Financial Data At the end of the reporting period, the company's total assets increased by 11.27% year-on-year, and net assets attributable to shareholders increased by 2.70%; however, due to the pandemic, operating revenue and net profit attributable to shareholders decreased by 28.27% and 49.12% respectively, with net cash flow from operating activities significantly declining by 459.01% Overview of Key Financial Data (As of March 31, 2020) | Indicator | Current Period End (Yuan) | Previous Year End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 2,233,890,370.80 | 2,007,639,351.37 | 11.27 | | Net Assets Attributable to Shareholders of Listed Company | 1,668,849,332.05 | 1,624,972,044.14 | 2.70 | | Indicator | Year-to-Date (Yuan) | Previous Year-to-Date (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -46,904,908.02 | -8,390,655.20 | 459.01 | | Operating Revenue | 148,162,241.23 | 206,565,571.46 | -28.27 | | Net Profit Attributable to Shareholders of Listed Company | 43,247,242.43 | 84,999,724.84 | -49.12 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 36,232,783.46 | 66,001,470.56 | -45.10 | | Weighted Average Return on Net Assets (%) | 2.63 | 6.12 | Decrease by 57.12 percentage points | | Basic Earnings Per Share (Yuan/share) | 0.12 | 0.23 | -47.83 | | Diluted Earnings Per Share (Yuan/share) | 0.12 | 0.23 | -47.83 | Non-Recurring Gains and Losses (Current Period) | Item | Current Period Amount (Yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | -372,038.29 | | Government grants recognized in current profit or loss | 3,195,571.58 | | Gains or losses from entrusted investment or asset management | 4,803,985.72 | | Gains or losses from changes in fair value and investment income from disposal of financial assets | 1,005,198.56 | | Other non-operating income and expenses | -384,884.52 | | Impact on minority interests (after tax) | 1,916.17 | | Income tax impact | -1,235,290.25 | | Total | 7,014,458.97 | Shareholder Ownership As of the end of the reporting period, the company had 19,521 shareholders, with Su Enben holding the largest stake among the top ten at 39.52%, with some shares pledged, and the report also disclosed the top ten unrestricted circulating shareholders and their affiliations - As of the end of the reporting period, the total number of shareholders was 19,521[9] Top Ten Shareholders' Holdings (As of March 31, 2020) | Shareholder Name | Shares Held at Period End (10,000 shares) | Percentage (%) | Restricted Shares Held (10,000 shares) | Share Status | Pledged or Frozen Shares (10,000 shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Su Enben | 10,289.3008 | 39.52 | 10,289.3008 | Pledged | 1,552.40 | Domestic Natural Person | | Nanjing Aiji Information Consulting Co., Ltd. | 1,133.6399 | 4.35 | 1,133.6399 | Unrestricted | | Domestic Non-State Legal Person | | Suzhou Jiefu Investment Enterprise (Limited Partnership) | 983.0048 | 3.78 | 0 | Unrestricted | | Domestic Non-State Legal Person | | Huatai Zijin (Jiangsu) Equity Investment Fund (Limited Partnership) | 745.4241 | 2.86 | 745.4241 | Unrestricted | | Domestic Non-State Legal Person | | Hangzhou Weisijielang Equity Investment Partnership (Limited Partnership) | 708.8859 | 2.72 | 0 | Unrestricted | | Domestic Non-State Legal Person | | Xu Xingde | 623.8857 | 2.40 | 0 | Unrestricted | | Domestic Natural Person | | Tianjin Jieyuan Asset Management Partnership (Limited Partnership) | 376.4376 | 1.45 | 376.4376 | Unrestricted | | Domestic Non-State Legal Person | | Su Enkui | 301.1501 | 1.16 | 301.1501 | Unrestricted | | Domestic Natural Person | | Hong Kong Securities Clearing Company Limited | 273.4145 | 1.05 | 0 | Unrestricted | | Overseas Legal Person | | Fei Wan'e | 148.1916 | 0.57 | 0 | Unrestricted | | Domestic Natural Person | - Su Enben, Su Enkui, and Nanjing Aiji Information Consulting Co., Ltd. have an affiliated relationship, with Su Enben being the actual controller of Nanjing Aiji Information Consulting Co., Ltd[10] Preferred Shareholder Ownership The company had no preferred shareholder ownership at the end of the reporting period, rendering this section not applicable - There were no preferred shareholder holdings at the end of the reporting period[11] Significant Events This section details significant changes in key financial items, progress on important matters, and any unfulfilled commitments during the reporting period Major Changes and Reasons for Key Financial Statement Items During the reporting period, several financial accounts experienced significant changes, with cash and cash equivalents increasing by 47.54% due to increased bank borrowings and redemption of wealth management products, and short-term borrowings rising by 230.11% for future development; however, operating revenue, net profit, selling expenses, other income, and investment income all significantly decreased due to the pandemic, and net cash flow from operating activities sharply declined by 459.01% due to reduced business volume and increased procurement expenses Changes in Key Financial Statement Items (Current Period End vs. Previous Year End) | Account Name | Current Period End (Yuan) | Previous Year End (Yuan) | Change (%) | Remarks | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 973,020,839.43 | 659,479,188.58 | 47.54 | Increase in bank borrowings and redemption of wealth management products | | Trading Financial Assets | 317,142,481.48 | 467,355,257.91 | -32.14 | Maturity and redemption of wealth management products | | Notes Receivable | 1,229,765.60 | 9,077,711.80 | -86.45 | Notes collected upon maturity | | Advance Payments | 24,823,086.01 | 18,299,031.23 | 35.65 | Increase in advance payments for materials | | Other Receivables | 17,382,248.78 | 10,860,085.59 | 60.06 | Increase in intercompany receivables | | Construction in Progress | 23,647,033.28 | 11,602,255.48 | 103.81 | New equipment awaiting installation and Phase II factory construction expenses | | Short-term Borrowings | 313,600,000.00 | 95,000,000.00 | 230.11 | Rational utilization of bank credit lines, new borrowings | | Advance Receipts | - | 39,686,835.91 | -100.00 | Reclassified to contract liabilities | | Employee Benefits Payable | 13,922,739.31 | 39,240,786.13 | -64.52 | Year-end bonuses have been paid | | Taxes Payable | 10,013,736.71 | 23,108,789.04 | -56.67 | Previous year-end included Q4 taxes, paid in current period | | Contract Liabilities | 42,765,718.76 | - | 100.00 | Reclassification under new revenue standard | | Provisions | 1,108,819.61 | 1,758,923.77 | -36.96 | Decrease due to consumption in current period | Changes in Key Income Statement and Cash Flow Statement Items (Current Period vs. Previous Period) | Item Name | Current Period Amount (Yuan) | Previous Period Amount (Yuan) | Change (%) | Remarks | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 23,306,597.32 | 35,204,355.49 | -33.80 | Restricted sales activities during the pandemic | | Financial Expenses | -6,090,218.54 | 516,478.62 | -1,279.18 | Increase in time deposits, increase in interest income | | Credit Impairment Losses and Asset Impairment Losses | 1,324,492.12 | -326,136.84 | -506.12 | Increase in accounts receivable, increase in credit impairment losses | | Other Income | 3,261,624.04 | 9,450,506.54 | -65.49 | Decrease in government subsidies | | Investment Income | 4,434,210.86 | 7,635,173.32 | -41.92 | Decrease in purchases of wealth management products | | Gains on Asset Disposal | 210,900.58 | 28,740.58 | 633.81 | Increase in asset disposals | | Non-Operating Expenses | 626,806.43 | 96,274.37 | 551.06 | Donation expenses during the pandemic | | Income Tax Expense | 6,197,621.92 | 11,255,444.03 | -44.94 | Decrease in profit led to decrease in income tax | | Net Cash Flow from Operating Activities | -46,904,908.02 | -8,390,655.20 | 459.01 | Pandemic impact, reduced business volume, increased procurement expenses | | Net Cash Flow from Investing Activities | 153,921,032.70 | 13,765,986.12 | 1,018.13 | Increase in redemption amount of wealth management products | | Net Cash Flow from Financing Activities | 209,096,477.22 | -4,187,359.60 | -5,093.52 | Increase in borrowings | | Net Profit Attributable to Shareholders of Listed Company | 43,247,242.43 | 84,999,724.84 | -49.12 | Pandemic impact, decrease in performance | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 36,232,783.46 | 66,001,470.56 | -45.10 | Pandemic impact, decrease in performance | | Weighted Average Return on Net Assets (%) | 2.63 | 6.12 | -57.12 | Pandemic impact, decrease in performance | | Basic Earnings Per Share (Yuan/share) | 0.12 | 0.23 | -47.83 | Pandemic impact, decrease in performance | | Diluted Earnings Per Share (Yuan/share) | 0.12 | 0.23 | -47.83 | Pandemic impact, decrease in performance | Progress on Significant Matters During the reporting period, the company continued to manage idle self-owned funds for wealth management and securities investment, and completed the unlocking of the second tranche of restricted shares under the 2017 Restricted Stock Incentive Plan - The company was approved to use up to RMB 1.5 billion of idle self-owned funds for cash management, with RMB 311.8 million utilized as of March 31, 2020, generating RMB 3.7906 million in wealth management income during the reporting period[16] - The company was approved to use up to RMB 100 million of self-owned funds for securities investment, with a securities investment balance of RMB 0 as of March 31, 2020, and cumulative wealth management income of RMB 0.9192 million generated during the reporting period[17] - The second tranche of restricted shares under the 2017 Restricted Stock Incentive Plan was listed for circulation on March 16, 2020, with 94 incentive recipients unlocking 646,153 shares, representing 0.2482% of the total share capital[18] Overdue Unfulfilled Commitments The company had no overdue unfulfilled commitments during the reporting period - There were no overdue unfulfilled commitments during the reporting period[19] Warning on Future Net Profit Forecast The company has not issued a warning regarding a potential loss or significant change in cumulative net profit from the beginning of the year to the end of the next reporting period - The company has not issued a warning regarding potential future cumulative net profit losses or significant changes[20] Appendix This appendix includes the company's financial statements, details on adjustments for new accounting standards, and the audit status of the quarterly report Financial Statements This section presents the consolidated and parent company balance sheets, income statements, and cash flow statements for Getein Biotech's first quarter of 2020, illustrating the company's financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet This table provides a summary of the company's consolidated assets, liabilities, and equity as of March 31, 2020 Consolidated Balance Sheet Summary (As of March 31, 2020) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Current Assets | 1,779,126,867.90 | 1,566,846,024.58 | | Total Non-Current Assets | 454,763,502.90 | 440,793,326.79 | | Total Assets | 2,233,890,370.80 | 2,007,639,351.37 | | Total Current Liabilities | 498,480,248.92 | 316,884,974.30 | | Total Non-Current Liabilities | 8,293,269.85 | 9,099,334.10 | | Total Liabilities | 506,773,518.77 | 325,984,308.40 | | Total Equity Attributable to Parent Company Owners | 1,668,849,332.05 | 1,624,972,044.14 | | Minority Interests | 58,267,519.98 | 56,682,998.83 | | Total Owners' Equity | 1,727,116,852.03 | 1,681,655,042.97 | | Total Liabilities and Owners' Equity | 2,233,890,370.80 | 2,007,639,351.37 | Parent Company Balance Sheet This table provides a summary of the parent company's assets, liabilities, and equity as of March 31, 2020 Parent Company Balance Sheet Summary (As of March 31, 2020) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Current Assets | 1,564,640,825.43 | 1,406,258,719.16 | | Total Non-Current Assets | 521,416,352.18 | 495,373,313.16 | | Total Assets | 2,086,057,177.61 | 1,901,632,032.32 | | Total Current Liabilities | 419,667,124.95 | 268,406,511.23 | | Total Non-Current Liabilities | 4,284,958.53 | 5,099,454.19 | | Total Liabilities | 423,952,083.48 | 273,505,965.42 | | Total Owners' Equity | 1,662,105,094.13 | 1,628,126,066.90 | | Total Liabilities and Owners' Equity | 2,086,057,177.61 | 1,901,632,032.32 | Consolidated Income Statement This table presents the consolidated revenues, expenses, and net profit for the first quarter of 2020 compared to the same period in 2019 Consolidated Income Statement Summary (Q1 2020 vs. Q1 2019) | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 148,162,241.23 | 206,565,571.46 | -28.27 | | Total Operating Costs | 104,560,956.98 | 131,017,726.95 | -20.20 | | Operating Profit | 51,188,726.17 | 98,147,777.16 | -47.90 | | Total Profit | 50,654,611.15 | 98,251,656.86 | -48.44 | | Net Profit | 44,456,989.23 | 86,996,212.83 | -48.89 | | Net Profit Attributable to Parent Company Shareholders | 43,247,242.43 | 84,999,724.84 | -49.12 | | Minority Interest Income | 1,209,746.80 | 1,996,487.99 | -39.32 | | Total Comprehensive Income | 44,463,118.08 | 86,980,342.55 | -48.88 | | Total Comprehensive Income Attributable to Parent Company Owners | 43,253,371.28 | 84,983,854.56 | -49.10 | Parent Company Income Statement This table presents the parent company's revenues, expenses, and net profit for the first quarter of 2020 compared to the same period in 2019 Parent Company Income Statement Summary (Q1 2020 vs. Q1 2019) | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 88,401,626.71 | 158,445,991.38 | -44.21 | | Operating Profit | 37,477,965.83 | 88,574,229.15 | -57.69 | | Total Profit | 36,963,566.67 | 88,774,229.87 | -58.36 | | Net Profit | 33,252,192.55 | 78,202,111.39 | -57.47 | | Total Comprehensive Income | 33,252,192.55 | 78,202,111.39 | -57.47 | Consolidated Cash Flow Statement This table summarizes the consolidated cash flows from operating, investing, and financing activities for the first quarter of 2020 compared to the same period in 2019 Consolidated Cash Flow Statement Summary (Q1 2020 vs. Q1 2019) | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -46,904,908.02 | -8,390,655.20 | 459.01 | | Net Cash Flow from Investing Activities | 153,921,032.70 | 13,765,986.12 | 1,018.13 | | Net Cash Flow from Financing Activities | 209,096,477.22 | 41,240,666.66 | 407.05 | | Net Increase in Cash and Cash Equivalents | 316,923,994.70 | 46,121,321.72 | 587.15 | | Cash and Cash Equivalents at End of Period | 964,074,390.20 | 189,034,898.17 | 410.01 | Parent Company Cash Flow Statement This table summarizes the parent company's cash flows from operating, investing, and financing activities for the first quarter of 2020 compared to the same period in 2019 Parent Company Cash Flow Statement Summary (Q1 2020 vs. Q1 2019) | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -232,886,301.45 | -77,395,123.77 | 201.04 | | Net Cash Flow from Investing Activities | 138,064,597.24 | 72,616,622.83 | 90.13 | | Net Cash Flow from Financing Activities | 194,175,393.89 | 39,770,666.66 | 388.31 | | Net Increase in Cash and Cash Equivalents | 100,158,964.73 | 34,504,826.75 | 190.28 | | Cash and Cash Equivalents at End of Period | 682,638,131.24 | 152,996,417.04 | 346.24 | Adjustments for New Revenue Recognition Standards Effective January 1, 2020, the company adopted new revenue recognition standards, primarily reclassifying advance receipts from 'Advance Receipts' to 'Contract Liabilities' in the opening consolidated and parent company balance sheets, without affecting total assets or liabilities Consolidated Balance Sheet (New Revenue Standard Adjustments) This section details the reclassification of advance receipts to contract liabilities in the consolidated balance sheet due to the adoption of new revenue standards - In accordance with new revenue recognition standards, the company reclassified RMB 39,686,835.91 from 'Advance Receipts' to 'Contract Liabilities' in the consolidated balance sheet as of December 31, 2019, resulting in 'Advance Receipts' of RMB 0 and new 'Contract Liabilities' of RMB 39,686,835.91[43][44] - This adjustment does not affect the total assets, total liabilities, or total owner's equity in the consolidated balance sheet[44] Parent Company Balance Sheet (New Revenue Standard Adjustments) This section details the reclassification of advance receipts to contract liabilities in the parent company balance sheet due to the adoption of new revenue standards - In accordance with new revenue recognition standards, the company reclassified RMB 16,721,850.80 from 'Advance Receipts' to 'Contract Liabilities' in the parent company balance sheet as of December 31, 2019, resulting in 'Advance Receipts' of RMB 0 and new 'Contract Liabilities' of RMB 16,721,850.80[47][48] - This adjustment does not affect the total assets, total liabilities, or total owner's equity in the parent company balance sheet[48] Explanation of Retrospective Adjustments for New Standards The company did not retrospectively adjust prior period comparative data for the first-time adoption of new revenue and lease standards starting from 2020 - The company did not retrospectively adjust prior period comparative data to reflect the impact of new revenue and lease standards[49] Audit Report This quarterly report is unaudited - This quarterly report is unaudited[6]