Sunglow Packaging Technology(SH:603499)2022-11-10 16:00Main Financial Data Core Financial Indicators In Q3 2022, the company's operating revenue was 176 million yuan, with net profit attributable to shareholders significantly increasing by 12,640.89% to 2.478 million yuan, while year-to-date net profit turned profitable at 3.68 million yuan with strong operating cash flow growth Core Financial Indicators Summary | Indicator | Current Period (Q3 2022) (Yuan) | YoY Change (%) | YTD (Q3 2022) (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 175,558,066.00 | 4.90% | 455,167,251.03 | -0.12% | | Net Profit Attributable to Shareholders | 2,477,608.46 | 12,640.89% | 3,679,793.05 | Not Applicable | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) | -1,914,922.82 | Not Applicable | -1,324,055.10 | Not Applicable | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | 84,070,013.98 | 322.75% | | Basic EPS (Yuan/Share) | 0.0123 | 12,603.13% | 0.0183 | Not Applicable | | Total Assets (Period-end) | 1,185,437,448.19 | 4.26% (vs. prior year-end) | 1,185,437,448.19 | 4.26% (vs. prior year-end) | | Equity Attributable to Shareholders (Period-end) | 590,469,737.24 | 0.68% (vs. prior year-end) | 590,469,737.24 | 0.68% (vs. prior year-end) | Non-recurring Gains and Losses From the beginning of the year to Q3 2022, total non-recurring gains and losses amounted to 5.0038 million yuan, primarily driven by asset disposal gains and government grants, which were crucial for achieving positive net profit Non-recurring Gains and Losses Items | Item | YTD (Q3 2022) Amount (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 4,135,530.22 | | Government Grants Recognized in Current P&L | 2,669,819.93 | | Other Non-operating Income and Expenses | -727,318.69 | | Less: Income Tax Impact | 913,252.05 | | Less: Impact on Minority Interests (After Tax) | 160,931.26 | | Total | 5,003,848.15 | Analysis of Major Financial Indicator Changes Several profit indicators significantly improved due to increased overseas packaging and printing revenue and expanded cosmetics business, while operating cash flow improved from higher customer payments and rental income - Net profit attributable to shareholders and EPS significantly increased in both the current period and year-to-date, primarily due to increased revenue from overseas packaging and printing business and expanded cosmetics business, which improved gross margin7 - Net cash flow from operating activities increased by 322.75% year-to-date, mainly due to increased customer payments and rental income7 Shareholder Information Shareholding Structure As of the reporting period end, the company had 8,863 common shareholders, with the top ten holding approximately 78.26%, indicating a concentrated equity structure and strong control by the controlling shareholder and related parties - As of the reporting period end, the company had 8,863 common shareholders9 Top Ten Shareholders | Shareholder Name | Shares Held (Shares) | Shareholding (%) | | :--- | :--- | :--- | | Dong Jianjun | 72,681,300 | 36.13 | | Shanghai Xiangwan Investment Consulting Co., Ltd. | 42,638,100 | 21.20 | | Shanghai Muxin Private Fund Management Co., Ltd. - Muxin Qingtong No. 2 | 17,600,000 | 8.75 | | Shanghai Tongyi Investment Management Co., Ltd. - Tongyi Dongfeng No. 12 | 6,490,000 | 3.23 | | Dong Wangsheng | 5,787,100 | 2.88 | | Sun Jianchang | 2,535,254 | 1.26 | | Huang Yeqiong | 1,700,000 | 0.85 | | Jinyuan Shunan Yuanqi Flexible Allocation Mixed Securities Investment Fund | 1,606,100 | 0.80 | | Sun Yanchang | 1,524,952 | 0.76 | | Beijing Yabaolu Laofan Street Garment Market Co., Ltd. | 808,816 | 0.40 | - Controlling shareholder Dong Jianjun has an associated relationship or acts in concert with Shanghai Xiangwan Investment Consulting Co., Ltd. (Dong Jianjun holds 99.75%), Dong Wangsheng (Dong Jianjun's father), and Muxin Qingtong No. 2 Private Fund (sole investor is Dong Jianjun's daughter Dong Tingting)10 Quarterly Financial Statements Consolidated Financial Statements As of September 30, 2022, consolidated total assets reached 1.185 billion yuan, with year-to-date operating revenue largely flat, but net profit attributable to shareholders turned profitable at 3.68 million yuan from a prior year loss, and operating cash flow significantly increased by 322.75% Consolidated Balance Sheet As of September 30, 2022, total assets were 1.185 billion yuan, increasing by 4.26% from year-end 2021, driven by higher cash, inventory, and construction in progress, while total liabilities increased by 8.15% to 570 million yuan due to increased borrowings | Item | September 30, 2022 (Yuan) | December 31, 2021 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Equivalents | 131,577,187.67 | 93,752,138.52 | 40.35% | | Accounts Receivable | 207,474,370.68 | 242,159,244.52 | -14.32% | | Inventories | 116,892,107.82 | 101,833,699.65 | 14.79% | | Total Current Assets | 510,894,826.16 | 488,939,157.99 | 4.49% | | Fixed Assets | 362,151,937.29 | 342,140,479.77 | 5.85% | | Total Non-current Assets | 674,542,622.03 | 648,049,841.36 | 4.09% | | Total Assets | 1,185,437,448.19 | 1,136,988,999.35 | 4.26% | | Short-term Borrowings | 43,000,000.00 | 35,000,000.00 | 22.86% | | Long-term Borrowings | 70,053,114.77 | 51,748,693.30 | 35.37% | | Total Liabilities | 569,905,273.79 | 526,961,605.02 | 8.15% | | Total Equity Attributable to Parent Company Shareholders | 590,469,737.24 | 586,463,785.88 | 0.68% | | Total Owners' Equity | 615,532,174.40 | 610,027,394.33 | 0.90% | Consolidated Income Statement In the first three quarters of 2022, operating revenue was 455 million yuan, largely flat, but effective cost control and 4.136 million yuan in asset disposal gains led to operating profit turning positive and net profit attributable to shareholders reaching 3.68 million yuan, reversing a prior year loss | Item | YTD (Q3 2022) (Yuan) | YTD (Q3 2021) (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 455,167,251.03 | 455,726,913.07 | -0.12% | | Total Operating Costs | 469,215,858.72 | 477,694,021.86 | -1.77% | | Gains/Losses from Asset Disposal | 4,135,530.22 | -15,571.04 | Turned Profitable | | Operating Profit | 4,026,431.50 | -5,951,351.47 | Turned Profitable | | Total Profit | 3,299,112.81 | -5,952,701.92 | Turned Profitable | | Net Profit | 5,178,621.76 | -5,218,158.74 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 3,679,793.05 | -8,209,536.97 | Turned Profitable | | Basic EPS (Yuan/Share) | 0.0183 | -0.0409 | Turned Profitable | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities significantly increased by 322.75% to 84.07 million yuan, driven by higher cash receipts from sales, while investing activities resulted in a net outflow and financing activities a net inflow, leading to a healthy period-end cash balance of 132 million yuan | Item | YTD (Q3 2022) (Yuan) | YTD (Q3 2021) (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 84,070,013.98 | 19,886,372.08 | 322.75% | | Net Cash Flow from Investing Activities | -62,093,172.58 | -159,258,827.96 | 61.01% | | Net Cash Flow from Financing Activities | 15,535,642.51 | 60,124,558.85 | -74.16% | | Net Increase in Cash and Cash Equivalents | 37,825,049.15 | -79,274,873.39 | Not Applicable | | Cash and Cash Equivalents at Period-end | 131,577,187.67 | 82,513,674.82 | 59.46% | Parent Company Financial Statements At the parent company level, as of September 30, 2022, total assets were 953 million yuan, with year-to-date operating revenue decreasing but net profit increasing by 52.62% to 4.993 million yuan, indicating improved profitability and stable operating cash flow Parent Company Balance Sheet As of September 30, 2022, the parent company's total assets were 953 million yuan, a slight 2.39% increase from year-end 2021, with total liabilities increasing by 5.39% to 331 million yuan and owner's equity remaining stable at 622 million yuan | Item | September 30, 2022 (Yuan) | December 31, 2021 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 952,874,508.18 | 930,670,302.76 | 2.39% | | Total Liabilities | 331,043,765.05 | 314,125,749.91 | 5.39% | | Total Owners' Equity | 621,830,743.13 | 616,544,552.85 | 0.86% | Parent Company Income Statement In the first three quarters of 2022, the parent company's operating revenue decreased by 8.71% to 229 million yuan, but net profit increased by 52.62% to 4.993 million yuan due to a larger decrease in operating costs and increased other income | Item | YTD (Q3 2022) (Yuan) | YTD (Q3 2021) (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 229,006,829.08 | 250,865,789.43 | -8.71% | | Operating Costs | 190,753,126.20 | 214,206,866.82 | -10.95% | | Operating Profit | 4,282,162.04 | 2,712,907.20 | 57.84% | | Net Profit | 4,993,317.67 | 3,271,728.03 | 52.62% | Parent Company Cash Flow Statement In the first three quarters of 2022, the parent company's net cash flow from operating activities remained stable at 46.723 million yuan, with net cash outflows from investing activities primarily for fixed asset acquisitions and a net outflow from financing activities | Item | YTD (Q3 2022) (Yuan) | YTD (Q3 2021) (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 46,722,853.30 | 44,244,085.50 | 5.60% | | Net Cash Flow from Investing Activities | -25,909,005.41 | -162,175,941.59 | 84.02% | | Net Cash Flow from Financing Activities | -2,476,818.27 | 50,455,142.85 | -104.91% | | Net Increase in Cash and Cash Equivalents | 18,480,355.23 | -67,494,570.98 | Not Applicable |