建霖家居(603408) - 2023 Q1 - 季度财报

Important Notice This chapter emphasizes the legal responsibility of the company's board of directors, supervisory board, and senior management for the truthfulness, accuracy, and completeness of the quarterly report, and clarifies that the quarterly financial statements are unaudited - Company's board of directors, supervisory board, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and bear individual and joint legal responsibility[2] - The company's principal officer, head of accounting, and head of the accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The first quarter financial statements are unaudited[4] Key Financial Data This chapter outlines the company's key financial performance for Q1 2023, showing significant year-on-year declines in operating revenue, net profit attributable to shareholders, non-recurring net profit, and net cash flow from operating activities, primarily due to a weakening short-term economic environment and demand Key Accounting Data and Financial Indicators In Q1 2023, the company's operating revenue decreased by 29.00% year-on-year, net profit attributable to shareholders decreased by 52.74%, and net cash flow from operating activities decreased by 64.32%, while total assets slightly declined and owners' equity attributable to shareholders increased Key Accounting Data and Financial Indicators | Item | Current Period | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 807,965,144.26 RMB | -29.00 | | Net Profit Attributable to Shareholders | 45,426,940.11 RMB | -52.74 | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses | 26,659,575.68 RMB | -68.67 | | Net Cash Flow from Operating Activities | 43,739,573.24 RMB | -64.32 | | Basic Earnings Per Share (RMB/share) | 0.10 | -54.55 | | Diluted Earnings Per Share (RMB/share) | 0.10 | -52.38 | | Weighted Average Return on Net Assets (%) | 1.57 | Decreased by 2.06 percentage points | | Period-End Indicators | Current Period-End | Change from Prior Year-End (%) | | Total Assets | 4,390,003,426.02 RMB | -0.23 | | Owners' Equity Attributable to Shareholders | 2,917,011,476.44 RMB | 1.54 | Non-Recurring Gains and Losses Items and Amounts In Q1 2023, the company's total non-recurring gains and losses amounted to RMB 18,767,364.43, primarily from government subsidies, fair value changes of transactional financial assets, and investment income Non-Recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (RMB) | | :--- | :--- | | Disposal Gains and Losses of Non-Current Assets | -44,948.41 | | Government Subsidies Included in Current Profit and Loss | 12,767,034.21 | | Gains and Losses from Entrusting Others to Invest or Manage Assets | 526,832.10 | | Gains and Losses from Fair Value Changes of Transactional Financial Assets and Investment Income | 8,796,171.40 | | Other Non-Operating Income and Expenses Apart from the Above | -53,053.81 | | Other Gains and Losses Meeting the Definition of Non-Recurring Gains and Losses | 242,897.44 | | Less: Income Tax Impact | 3,467,568.50 | | Total | 18,767,364.43 | Changes and Reasons for Key Accounting Data and Financial Indicators Net profit attributable to shareholders, non-recurring net profit, net cash flow from operating activities, and basic/diluted EPS all significantly declined this period, mainly due to reduced turnover from a weakening short-term economic environment and demand, and decreased cash received from sales Changes and Reasons for Key Accounting Data and Financial Indicators | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | -52.74 | Primarily due to decreased turnover from a weakening short-term economic environment and demand | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses | -68.67 | Primarily due to decreased net profit | | Net Cash Flow from Operating Activities | -64.32 | Primarily due to decreased cash received from sales of goods and services | | Basic Earnings Per Share (RMB/share) | -54.55 | Primarily due to decreased net profit | | Diluted Earnings Per Share (RMB/share) | -52.38 | Primarily due to decreased net profit | Shareholder Information This chapter discloses the total number of common shareholders and the shareholding structure of the top ten shareholders as of the end of the reporting period, including their shareholdings, percentages, restricted shares, and related party relationships Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of Q1 2023, the company had 15,053 common shareholders, with foreign legal entities dominating the top ten, most holding restricted shares, and certain related party relationships disclosed - Total number of common shareholders at period-end: 15,053[10] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding (%) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | JADE FORTUNE LIMITED | Foreign Legal Person | 90,361,531 | 20.12 | 90,361,531 | | PERFECT ESTATE LIMITED | Foreign Legal Person | 79,083,562 | 17.61 | 79,083,562 | | YUEN TAI LIMITED | Foreign Legal Person | 40,664,075 | 9.05 | 40,664,075 | | ESTEEM LEAD LIMITED | Foreign Legal Person | 40,664,075 | 9.05 | 40,664,075 | | ALPHA LAND LIMITED | Foreign Legal Person | 31,173,983 | 6.94 | 31,173,983 | | STAR EIGHT LIMITED | Foreign Legal Person | 20,084,000 | 4.47 | 20,084,000 | | NEW EMPIRE LIMITED | Foreign Legal Person | 16,579,741 | 3.69 | 16,579,741 | | Liao Meihong | Domestic Natural Person | 12,764,194 | 2.84 | 0 | | HEROIC EPOCH LIMITED | Foreign Legal Person | 12,050,400 | 2.68 | 12,050,400 | | ALPHA PLUS LIMITED | Foreign Legal Person | 6,913,324 | 1.54 | 0 | - HEROIC EPOCH, JADE FORTUNE, and NEW EMPIRE are entities controlled by Lu Lizhen and/or Lu Xueyan; PERFECT ESTATE and STAR EIGHT are entities controlled by Wen Guoliang, Fan Zili, Wen Yujing, and/or Wen Xin[11] Other Reminders This chapter states that the company has no other significant operational information requiring special attention from investors during the reporting period - No other important operational information for the reporting period requires investor attention[12] Quarterly Financial Statements This chapter provides the company's unaudited consolidated financial statements for Q1 2023, including the consolidated balance sheet, income statement, and cash flow statement, comprehensively reflecting the company's financial position, operating results, and cash flow Type of Audit Opinion The quarterly financial statements for this period are unaudited - The quarterly financial statements for this period are unaudited[12] Financial Statements This chapter details the company's consolidated balance sheet, income statement, and cash flow statement for Q1 2023, providing specific financial data for analysis Consolidated Balance Sheet As of March 31, 2023, the company's total assets were RMB 4.39 billion, a slight decrease of 0.23% from the end of the previous year, while owners' equity attributable to shareholders increased by 1.54% to RMB 2.917 billion Consolidated Balance Sheet Key Data (Unit: RMB) | Item | March 31, 2023 | December 31, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,390,003,426.02 | 4,400,043,738.27 | -0.23 | | Owners' Equity Attributable to Shareholders | 2,917,011,476.44 | 2,872,740,614.78 | 1.54 | | Total Liabilities | 1,472,991,949.58 | 1,527,303,123.49 | -3.56 | | Cash and Cash Equivalents | 743,618,291.41 | 612,480,361.28 | 21.41 | | Inventories | 563,867,953.52 | 594,301,624.23 | -5.04 | Consolidated Income Statement In Q1 2023, the company's total operating revenue was RMB 808 million, a 29.00% year-on-year decrease, with net profit attributable to parent company shareholders at RMB 45.43 million, down 52.74% year-on-year, while financial expenses significantly increased and other income and investment income rose Consolidated Income Statement Key Data (Unit: RMB) | Item | Q1 2023 | Q1 2022 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 807,965,144.26 | 1,137,975,985.03 | -29.00 | | Operating Profit | 54,556,878.91 | 115,778,472.84 | -52.90 | | Net Profit | 45,426,940.11 | 96,122,100.14 | -52.74 | | Net Profit Attributable to Parent Company Shareholders | 45,426,940.11 | 96,122,100.14 | -52.74 | | Financial Expenses | 10,099,129.13 | 1,858,965.81 | 443.27 | | Other Income | 12,955,931.65 | 8,363,525.14 | 54.91 | | Investment Income | 22,905,758.48 | 6,614,500.17 | 246.30 | | Basic Earnings Per Share (RMB/share) | 0.10 | 0.22 | -54.55 | Consolidated Cash Flow Statement In Q1 2023, net cash flow from operating activities significantly decreased by 64.32% to RMB 43.74 million, while net cash flow from investing activities shifted from a net outflow to a net inflow of RMB 113.31 million, and net cash outflow from financing activities narrowed by 62.19% to RMB 16.71 million Consolidated Cash Flow Statement Key Data (Unit: RMB) | Item | Q1 2023 | Q1 2022 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 43,739,573.24 | 122,580,412.48 | -64.32 | | Net Cash Flow from Investing Activities | 113,310,125.43 | -248,719,838.66 | 145.56 (shifted from net outflow to net inflow) | | Net Cash Flow from Financing Activities | -16,710,753.25 | -44,191,318.61 | 62.19 (outflow narrowed) | | Net Increase in Cash and Cash Equivalents | 135,196,872.52 | -170,551,727.52 | 179.27 (shifted from negative to positive) | | Period-End Cash and Cash Equivalents Balance | 704,304,978.22 | 630,046,031.79 | 11.79 | Adjustments to Beginning-of-Year Financial Statements Due to First-Time Adoption of New Accounting Standards or Interpretations from 2023 The company did not adjust its beginning-of-year financial statements in Q1 2023 due to the first-time adoption of new accounting standards or interpretations - Not applicable, the company did not adjust its beginning-of-year financial statements due to the first-time adoption of new accounting standards or interpretations[19]