京华激光(603607) - 2020 Q3 - 季度财报

Important Notice Statement on the Authenticity of the Report The Board of Directors, Supervisory Committee, and senior management affirm the authenticity, accuracy, and completeness of this unaudited quarterly report - The Board of Directors, Supervisory Committee, directors, supervisors, and senior management guarantee the authenticity, accuracy, and completeness of the quarterly report's content, and bear individual and joint legal responsibility[5] - All company directors attended the board meeting to review the quarterly report[5] - This third-quarter report has not been audited[5] Company Profile Key Financial Data As of September 2020, total assets and net assets attributable to shareholders saw slight growth, while net operating cash flow and non-recurring net profit declined Overview of Key Financial Data for the First Three Quarters of 2020 | Indicator | As of 2020.9.30 | As of 2019.12.31 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,041,678,591.45 | 1,041,086,191.78 | 0.06 | | Net Assets Attributable to Shareholders | 864,062,454.68 | 833,152,431.86 | 3.71 | | Indicator | YTD (Jan-Sep 2020) | Prior YTD (Jan-Sep 2019) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 71,113,124.65 | 111,984,456.78 | -36.50 | | Operating Revenue | 462,480,183.91 | 456,962,590.10 | 1.21 | | Net Profit Attributable to Shareholders | 69,441,519.00 | 68,714,509.82 | 1.06 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 58,320,204.52 | 61,866,183.04 | -5.73 | | Weighted Average Return on Equity (%) | 8.08 | 8.58 | Decreased by 0.50 percentage points | | Basic Earnings Per Share (Yuan/Share) | 0.39 | 0.38 | 2.63 | | Diluted Earnings Per Share (Yuan/Share) | 0.39 | 0.38 | 2.63 | Non-recurring Profit and Loss Items and Amounts for the First Three Quarters of 2020 | Item | Current Period (Jul-Sep) | Year-to-Date (Jan-Sep) | | :--- | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -114,537.81 | -157,246.43 | | Government Grants Recognized in Current Profit/Loss | 3,680,704.75 | 7,171,383.24 | | Fair Value Change Gain/Loss & Investment Income from Financial Assets | 3,005,693.73 | 6,525,850.73 | | Other Non-operating Income and Expenses | -389,764.15 | -395,210.82 | | Income Tax Impact | -934,696.54 | -2,023,462.24 | | Total | 5,247,399.98 | 11,121,314.48 | Shareholder Information As of the reporting date, the company had 14,270 shareholders, with a high concentration of ownership held by the controlling shareholder and the chairman - The total number of shareholders is 14,270[9] Top Ten Shareholders | Shareholder Name | Shares Held at Period End | Ownership (%) | Number of Restricted Shares | Pledged or Frozen Status (Shares) | | :--- | :--- | :--- | :--- | :--- | | Zhejiang Xingsheng Investment Management Co, Ltd | 56,456,585 | 31.63 | 56,456,585 | None (0) | | Sun Jiancheng | 22,358,974 | 12.52 | 22,358,974 | None (0) | | Qi Qifan | 4,773,384 | 2.67 | 4,773,384 | None (0) | | Feng Yiping | 4,161,511 | 2.33 | 4,161,511 | None (0) | | Yuan Jianfeng | 3,259,872 | 1.83 | 3,259,872 | None (0) | | Feng Yihong | 3,083,942 | 1.73 | 3,083,942 | None (0) | | Wang Fuqing | 2,897,664 | 1.62 | 2,897,664 | None (0) | | Chen Jintong | 2,897,664 | 1.62 | 2,897,664 | None (0) | | Jiang Jiangen | 2,897,664 | 1.62 | 2,897,664 | None (0) | | Xiong Jianhua | 2,600,136 | 1.46 | 2,600,136 | Pledged (855,540) | - Xingsheng Investment is the company's controlling shareholder, with Sun Jiancheng holding a 67.81% stake, Yuan Jianfeng holding 11.62%, and Feng Yiping holding 10.30%[10] Significant Matters Significant Changes in Financial Statement Items and Indicators The company experienced significant fluctuations in various financial statement items, including decreases in prepayments and construction in progress, and a decline in operating cash flow Changes in Major Balance Sheet Items and Reasons | Item | Current Period End (2020.9.30) | Prior Year End (2019.12.31) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Prepayments | 514,003.59 | 847,984.42 | -39.39% | Expensing of prepayments from the beginning of the period | | Other Current Assets | 457,034.29 | 1,892,689.18 | -75.85% | Decrease in input tax credits to be deducted this period | | Construction in Progress | 19,290,301.92 | 36,991,282.51 | -47.85% | Transfer of plant construction in progress to fixed assets | | Other Payables | 13,387,633.60 | 26,612,787.54 | -49.69% | Payment of a portion of the outstanding equity acquisition款 from 2019 | | Share Capital | 178,516,800.00 | 127,512,000.00 | 40.00% | Capitalization of capital reserves to share capital | | Other Comprehensive Income | -184,631.43 | 93,264.75 | -297.96% | Difference in related party transaction amounts due to exchange rate fluctuations | Changes in Major Income Statement Items and Reasons | Item | Current Period (Jan-Sep 2020) | Prior Period (Jan-Sep 2019) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Financial Expenses | -998,123.02 | -1,642,314.08 | -39.22% | Decrease in interest income from deposits | | Other Income | 7,171,383.24 | 2,087,944.96 | 243.47% | Receipt of fiscal subsidies and economic rewards for the 2018 innovation-driven development strategy | | Gain on Asset Disposal | -157,246.43 | -361,528.71 | -56.51% | Fewer disposals of fixed assets in the current period | | Non-operating Income | 94,422.95 | 1,765,295.54 | -94.65% | Decrease in government subsidies unrelated to daily operations | Changes in Major Cash Flow Statement Items and Reasons | Item | Current Period (Jan-Sep 2020) | Prior Period (Jan-Sep 2019) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 71,113,124.65 | 111,984,456.78 | -36.50% | Decrease in collections due to outstanding accounts receivable from sales | | Net Cash Flow from Investing Activities | -71,990,900.04 | -155,086,251.79 | -53.58% | Decrease in cash paid for the acquisition of subsidiaries and other business units | Progress of Significant Matters No significant matters to report during the period - There is no progress on significant matters or analysis of their impact and solutions to disclose[14] Overdue Unfulfilled Commitments No overdue unfulfilled commitments during the period - There are no overdue unfulfilled commitments within the reporting period[14] Warning on Future Net Profit Forecast No warning was issued regarding potential losses or significant changes in cumulative net profit - No warning or explanation was provided regarding potential losses or significant changes in cumulative net profit from the beginning of the year to the end of the next reporting period[14] Appendix Financial Statements This section presents the unaudited consolidated and parent company financial statements for the third quarter of 2020 Consolidated Balance Sheet As of September 30, 2020, the company's consolidated total assets were 1.04 billion yuan, total liabilities were 175 million yuan, and total equity was 866 million yuan Key Data from Consolidated Balance Sheet (2020.9.30 vs 2019.12.31) | Item | September 30, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Assets | 1,041,678,591.45 | 1,041,086,191.78 | | Total Current Assets | 613,018,693.15 | 623,661,329.06 | | Total Non-current Assets | 428,659,898.30 | 417,424,862.72 | | Total Liabilities | 175,470,634.07 | 207,704,279.72 | | Total Current Liabilities | 166,461,015.78 | 198,086,849.89 | | Total Non-current Liabilities | 9,009,618.29 | 9,617,429.83 | | Total Equity | 866,207,957.38 | 833,381,912.06 | | Total Equity Attributable to Parent Company | 864,062,454.68 | 833,152,431.86 | Parent Company Balance Sheet As of September 30, 2020, the parent company's total assets were 857 million yuan, total liabilities were 97 million yuan, and total equity was 761 million yuan Key Data from Parent Company Balance Sheet (2020.9.30 vs 2019.12.31) | Item | September 30, 2020 (Yuan) | December 31, 2019 (Yuan) | | :--- | :--- | :--- | | Total Assets | 857,211,967.51 | 838,854,325.90 | | Total Current Assets | 401,033,737.85 | 391,043,496.19 | | Total Non-current Assets | 456,178,229.66 | 447,810,829.71 | | Total Liabilities | 96,682,281.12 | 155,652,312.91 | | Total Current Liabilities | 89,285,146.63 | 147,591,657.34 | | Total Non-current Liabilities | 7,397,134.49 | 8,060,655.57 | | Total Equity | 760,529,686.39 | 683,202,012.99 | Consolidated Income Statement For the first three quarters of 2020, consolidated revenue was 462 million yuan, up 1.21% YoY, while net profit attributable to the parent company was 69.44 million yuan, up 1.06% YoY Key Data from Consolidated Income Statement (Q3 & Jan-Sep 2020 vs Prior Year) | Item | 2020 Q3 (Jul-Sep) | 2019 Q3 (Jul-Sep) | 2020 Jan-Sep | 2019 Jan-Sep | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 156,972,528.54 | 160,284,696.82 | 462,480,183.91 | 456,962,590.10 | | Total Operating Costs | 139,101,382.08 | 135,970,534.54 | 399,269,486.02 | 391,344,790.96 | | Operating Profit | 25,234,777.82 | 27,109,958.38 | 78,769,216.24 | 74,282,880.82 | | Total Profit | 24,845,013.67 | 27,420,228.43 | 78,374,005.42 | 75,646,440.65 | | Net Profit | 23,418,160.87 | 24,927,980.66 | 70,577,513.99 | 68,875,430.77 | | Net Profit Attributable to Parent Company Shareholders | 23,582,256.88 | 25,183,060.45 | 69,441,519.00 | 68,714,509.82 | | Basic Earnings Per Share (Yuan/Share) | - | - | 0.39 | 0.38 | | Diluted Earnings Per Share (Yuan/Share) | - | - | 0.39 | 0.38 | Parent Company Income Statement For the first three quarters of 2020, the parent company's revenue was 297 million yuan, down 3.73% YoY, while net profit grew 222.08% to 116 million yuan, driven by investment income Key Data from Parent Company Income Statement (Q3 & Jan-Sep 2020 vs Prior Year) | Item | 2020 Q3 (Jul-Sep) | 2019 Q3 (Jul-Sep) | 2020 Jan-Sep | 2019 Jan-Sep | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 109,377,880.66 | 102,977,668.80 | 297,234,614.18 | 308,768,014.54 | | Operating Profit | 91,215,927.86 | 12,702,300.16 | 119,271,459.83 | 38,438,279.68 | | Total Profit | 91,043,548.93 | 12,822,300.21 | 119,075,082.09 | 39,599,983.66 | | Net Profit | 90,394,859.11 | 11,697,840.87 | 115,581,273.40 | 35,903,491.12 | | Investment Income | 80,868,306.84 | 2,712,367.13 | 83,597,550.69 | 5,151,873.98 | Consolidated Cash Flow Statement For the first three quarters of 2020, consolidated net operating cash flow was 71.11 million yuan, a 36.50% YoY decrease Key Data from Consolidated Cash Flow Statement (Jan-Sep 2020 vs Jan-Sep 2019) | Item | Jan-Sep 2020 (Yuan) | Jan-Sep 2019 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 71,113,124.65 | 111,984,456.78 | | Net Cash Flow from Investing Activities | -71,990,900.04 | -155,086,251.79 | | Net Cash Flow from Financing Activities | -37,828,665.00 | -41,583,624.42 | | Net Increase in Cash and Cash Equivalents | -39,165,556.44 | -84,712,522.47 | | Cash and Cash Equivalents at End of Period | 44,690,380.83 | 65,402,824.06 | Parent Company Cash Flow Statement For the first three quarters of 2020, the parent company's net operating cash flow was 69.47 million yuan, a 14.28% YoY decrease Key Data from Parent Company Cash Flow Statement (Jan-Sep 2020 vs Jan-Sep 2019) | Item | Jan-Sep 2020 (Yuan) | Jan-Sep 2019 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 69,473,402.06 | 81,045,187.97 | | Net Cash Flow from Investing Activities | -57,560,040.02 | -128,193,795.88 | | Net Cash Flow from Financing Activities | -37,878,665.00 | -41,583,624.42 | | Net Increase in Cash and Cash Equivalents | -25,965,302.96 | -88,732,232.33 | | Cash and Cash Equivalents at End of Period | 25,782,039.86 | 52,168,936.39 | Implementation of New Accounting Standards The company did not adopt new revenue or lease standards in 2020, thus no adjustments were made - The adjustment of beginning-of-year financial statements for the first-time adoption of new revenue and lease standards from 2020 is not applicable[40] Retrospective Adjustment for New Accounting Standards No retrospective adjustments were necessary as new accounting standards were not adopted in 2020 - The retrospective adjustment of prior period comparative data for the first-time adoption of new revenue and lease standards from 2020 is not applicable[40] Audit Report This quarterly report is unaudited and therefore does not include an audit report - This quarterly report is unaudited and the audit report is not applicable[5][40]