恒林股份(603661) - 2020 Q3 - 季度财报

Important Notice The board, supervisors, and management guarantee the report's accuracy, and the Q3 2020 report is unaudited - The company's board of directors, supervisory board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions[14] - The company's responsible person, head of accounting, and head of accounting department all guarantee the truthfulness, accuracy, and completeness of the financial statements[16] - This company's Q3 2020 report is unaudited[17] Company Profile This section provides an overview of the company's key financial performance and shareholder structure for the reporting period Key Financial Data The company reported strong Q1-Q3 2020 performance, with revenue up 65.24% and net profit up 38.43% Key Financial Data for Q1-Q3 2020 | Indicator | Year-to-Date (Jan-Sep) (Yuan) | Prior Year Period (Jan-Sep) (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,225,599,200.80 元 | 1,952,103,657.59 元 | 65.24% | | Net Profit Attributable to Shareholders | 301,959,999.28 元 | 218,129,207.15 元 | 38.43% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 277,702,324.38 元 | 171,482,103.50 元 | 61.94% | | Net Cash Flow from Operating Activities | 260,714,103.09 元 | 98,403,815.65 元 | 164.94% | | Basic Earnings Per Share (Yuan/share) | 3.04 | 2.20 | 38.18% | | Weighted Average Return on Net Assets (%) | 11.40% | 9.20% | 增加 2.2 个百分点 | - During the reporting period, the company's total non-recurring gains and losses amounted to 24.26 million Yuan, primarily from government subsidies (10.71 million Yuan) and gains from entrusted investments or asset management (19.28 million Yuan)[21][24] Shareholder Information The company's shareholder structure is highly concentrated, with controlling shareholder Wang Jianglin holding 59.04% of shares Top Five Shareholders' Holdings | Shareholder Name | Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | Wang Jianglin | 59,041,333 | 59.04 | | Anji Henglin Commercial Co., Ltd. | 11,250,000 | 11.25 | | Henglin Home Furnishings Co., Ltd. Repurchase Special Securities Account | 1,434,509 | 1.43 | | Shanghai Yuyi Asset Management Partnership (Limited Partnership) - Dongfang Dianzan Securities Investment Fund | 1,229,248 | 1.23 | | Wang Yaqin | 750,000 | 0.75 | - Controlling shareholder Wang Jianglin, Anji Henglin Commercial Co., Ltd. (established by Wang Jianglin and spouse), and Wang Yaqin (Wang Jianglin's sister) are acting in concert[28] Significant Events This section details major changes in key financial statement items and indicators, along with their underlying causes Analysis of Significant Changes in Key Financial Statement Items and Indicators Significant changes in financial items reflect rapid business expansion, with notable increases in assets, liabilities, and operating revenue Balance Sheet Key Item Changes and Reasons | Item | Change (%) | Main Reason | | :--- | :--- | :--- | | Construction in Progress | 152.67% | Due to new factory construction | | Intangible Assets | 59.51% | Due to increased land use rights from consolidating Henglin Vietnam | | Short-term Borrowings | 490.35% | Due to increased bank borrowings | | Notes Payable | 421.75% | Due to increased bank acceptance bills for goods payment | Income Statement Key Item Changes and Reasons | Item | Change (%) | Main Reason | | :--- | :--- | :--- | | Operating Revenue | 65.24% | Due to increased sales orders | | Selling Expenses | 253.14% | Due to increased sales orders leading to higher freight and other expenses | | Financial Expenses | -364.38% | Due to exchange rate fluctuations and increased borrowing interest during the reporting period | | Investment Income | 83.16% | Due to increased investment income from Yongyu Vietnam and Zhejiang Yongyu | Cash Flow Statement Key Item Changes and Reasons | Item | Change (%) | Main Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 164.94% | Due to sales revenue growth, accelerated accounts receivable collection, and contributions from newly acquired subsidiaries | | Net Cash Flow from Investing Activities | -210.47% | Due to increased cash payments for the acquisition of fixed assets, intangible assets, etc. | | Net Cash Flow from Financing Activities | -37.88% | Due to repayment of borrowings and share repurchases | Appendix This section provides the company's unaudited financial statements and details on accounting standard changes Financial Statements This section presents the company's unaudited consolidated and parent company financial statements as of September 30, 2020 Consolidated Balance Sheet As of September 30, 2020, consolidated total assets were 4.74 billion Yuan, with a 40.53% asset-liability ratio Consolidated Balance Sheet Key Data (September 30, 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Total Assets | 4,742,630,855.55 | | Total Liabilities | 1,922,358,472.89 | | Total Equity Attributable to Parent Company Owners | 2,732,044,128.25 | Parent Company Balance Sheet As of September 30, 2020, the parent company's total assets were 3.69 billion Yuan and total liabilities 1.29 billion Yuan Parent Company Balance Sheet Key Data (September 30, 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Total Assets | 3,688,546,685.48 | | Total Liabilities | 1,291,451,750.75 | | Total Owner's Equity | 2,397,094,934.73 | Consolidated Income Statement In Q1-Q3 2020, the company reported total operating revenue of 3.23 billion Yuan and net profit attributable to parent shareholders of 302 million Yuan Consolidated Income Statement Key Data (Jan-Sep 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Total Operating Revenue | 3,225,599,200.80 | | Operating Profit | 363,437,934.51 | | Total Profit | 362,116,048.43 | | Net Profit Attributable to Parent Company Shareholders | 301,959,999.28 | Parent Company Income Statement In Q1-Q3 2020, the parent company reported operating revenue of 1.45 billion Yuan and net profit of 188 million Yuan Parent Company Income Statement Key Data (Jan-Sep 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Operating Revenue | 1,448,414,823.07 | | Operating Profit | 217,123,937.64 | | Total Profit | 215,892,347.64 | | Net Profit | 188,266,455.41 | Consolidated Cash Flow Statement In Q1-Q3 2020, net cash flow from operating activities was 261 million Yuan, with a period-end cash balance of 729 million Yuan Consolidated Cash Flow Statement Key Data (Jan-Sep 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 260,714,103.09 | | Net Cash Flow from Investing Activities | -304,382,742.49 | | Net Cash Flow from Financing Activities | 183,291,567.95 | | Period-End Cash and Cash Equivalents Balance | 728,768,879.34 | Parent Company Cash Flow Statement In Q1-Q3 2020, the parent company's net cash flow from operating activities was 365 million Yuan, with a period-end cash balance of 397 million Yuan Parent Company Cash Flow Statement Key Data (Jan-Sep 2020) | Indicator | Amount (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 364,534,905.13 | | Net Cash Flow from Investing Activities | -387,992,808.45 | | Net Cash Flow from Financing Activities | 145,040,882.68 | | Period-End Cash and Cash Equivalents Balance | 396,766,094.30 | Explanation of Accounting Standard Changes Effective January 1, 2020, the company adopted new revenue standards, reclassifying 'Advances from Customers' to 'Contract Liabilities' - Under the new revenue standard, the company reclassified 'Advances from Customers' to 'Contract Liabilities'[88][94] Consolidated Statement Key Adjustment Items | Statement Item | Before Adjustment (Dec 31, 2019) (Yuan) | After Adjustment (Jan 1, 2020) (Yuan) | Adjustment Amount (Yuan) | | :--- | :--- | :--- | :--- | | Advances from Customers | 48,575,404.84 元 | 0 | -48,575,404.84 元 | | Contract Liabilities | 0 | 48,575,404.84 元 | +48,575,404.84 元 |