亿嘉和(603666) - 2020 Q1 - 季度财报

Important Notice The board, supervisory board, and senior management guarantee the report's truthfulness, accuracy, and completeness, confirming it is unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, with no false records, misleading statements, or major omissions, and bear individual and joint legal liabilities[9] - All directors attended the board meeting to review the quarterly report[9] - This company's first quarterly report is unaudited[9] Company Profile This section details the company's key financial data, non-recurring gains/losses, and shareholder information at the reporting period end Key Financial Data Company assets and net assets grew, operating cash flow turned positive, revenue increased, but net profit slightly declined due to non-recurring items Main Financial Data Overview | Indicator | End of Current Reporting Period/Year-to-date | End of Previous Year/Year-to-date Previous Year | Change (%) | | :--- | :--- | :--- | :--- | | Balance Sheet | | | | | Total Assets | 1,593,838,750.04 CNY | 1,554,914,779.32 CNY | 2.50 | | Net Assets Attributable to Shareholders | 1,248,826,613.00 CNY | 1,202,681,278.73 CNY | 3.84 | | Cash Flow Statement | | | | | Net Cash Flow from Operating Activities | 20,456,528.02 CNY | -43,922,744.18 CNY | 146.57 | | Income Statement | | | | | Operating Revenue | 144,158,740.09 CNY | 103,947,667.89 CNY | 38.68 | | Net Profit Attributable to Shareholders | 34,616,282.81 CNY | 35,529,538.90 CNY | -2.57 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) | 30,214,102.02 CNY | 27,263,786.06 CNY | 10.82 | | Weighted Average Return on Net Assets (%) | 2.84 | 3.54 | Decreased by 0.70 percentage points | | Basic Earnings Per Share (CNY/share) | 0.3496 | 0.3616 | -3.32 | Non-recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Government subsidies recognized in current profit/loss | 2,778,405.05 | | Gains/losses from entrusted investments or asset management | 581,230.92 | | Gains/losses from fair value changes and investment income from disposal of trading financial assets | 2,034,082.19 | | Other non-operating income and expenses apart from the above | -192,543.00 | | Impact on minority interests (after tax) | -798,994.37 | | Total | 4,402,180.79 | Shareholding Information The company had 6,053 shareholders, with key individuals and their affiliates holding significant restricted shares among the top ten - As of the end of the reporting period, the company had a total of 6,053 shareholders[12] Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End (10k shares) | Proportion (%) | Restricted Shares Held (10k shares) | Pledge or Freeze Status | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhu Fuyun | 3,129 | 31.60 | 3,129 | None | Domestic Natural Person | | Nanjing Ruibei Investment Management Center (Limited Partnership) | 1,512 | 15.27 | 1,512 | None | Other | | Nanjing Shijie Investment Management Center (Limited Partnership) | 630 | 6.36 | 630 | None | Other | | Zhang Jing | 560 | 5.65 | 560 | None | Domestic Natural Person | | Xu Chunshan | 462 | 4.67 | 462 | None | Domestic Natural Person | | Lan Xinli | 462 | 4.67 | 462 | None | Domestic Natural Person | | Jiangsu Huatai Strategic Emerging Industry Investment Fund (Limited Partnership) | 367.3191 | 3.71 | 0 | Unknown | Other | | National Social Security Fund 604 Portfolio | 198.6124 | 2.01 | 0 | Unknown | Unknown | | Industrial and Commercial Bank of China - E Fund Value Growth Mixed Securities Investment Fund | 149.2681 | 1.51 | 0 | Unknown | Unknown | | Caitong Securities Co., Ltd. | 102.7724 | 1.04 | 0 | Unknown | Other | - Nanjing Ruibei Investment Management Center (Limited Partnership) is an enterprise actually controlled by Zhu Fuyun, and Zhang Jing is a person acting in concert with Zhu Fuyun[14] Preferred Shareholder Information The company had no preferred shareholders at the end of the reporting period - The company has no preferred shareholders[14] Significant Events This chapter analyzes major changes in financial statement items and confirms no significant event progress, overdue commitments, or net profit warnings Significant Changes and Reasons in Key Financial Statement Items and Indicators Multiple balance sheet, income statement, and cash flow items experienced significant changes due to operational activities and accounting standard adjustments Balance Sheet Item Changes Trading financial assets and development expenditures increased, while accounts receivable financing and advances from customers decreased due to reclassification and operations Balance Sheet Item Changes Overview | Item | March 31, 2020 (CNY) | December 31, 2019 (CNY) | Change (%) | Reason | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 539,412,164.38 | 393,052,163.62 | 37.24 | Increase due to purchase of structured deposits | | Accounts Receivable Financing | 1,686,770.03 | 138,401,888.64 | -98.78 | Bank acceptance bill discounting | | Contract Assets | 46,180,263.96 | - | Not applicable | Reclassification of contract quality assurance deposits under new revenue standards | | Development Expenditures | 20,105,804.41 | 14,334,539.17 | 40.26 | Increase in capitalized R&D expenses | | Other Non-current Assets | 4,226,707.60 | 2,667,975.41 | 58.42 | Increase in payments made for assets not yet in intended use | | Notes Payable | 100,000,000.00 | 500,000.00 | 19,900.00 | Increase due to issuance of bank acceptance bills | | Advances from Customers | - | 33,707,213.16 | -100.00 | Reclassification to contract liabilities under new revenue standards | | Contract Liabilities | 33,428,684.06 | - | Not applicable | Reclassification of advance contract payments under new revenue standards | | Employee Compensation Payable | 19,715,675.21 | 44,244,806.40 | -55.44 | Payment of year-end bonuses accrued at previous year-end | | Taxes Payable | 8,266,121.76 | 44,048,799.29 | -81.23 | Payment of corporate income tax and VAT accrued at previous year-end | | Other Comprehensive Income | -13,229.97 | -3,973,070.16 | -99.67 | Due to bank acceptance bill discounting | Income Statement Item Changes Operating revenue and costs significantly increased, while financial expenses rose due to bill discounting, and other income increased from tax refunds Income Statement Item Changes Overview | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | Change (%) | Reason | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 144,158,740.09 | 103,947,667.89 | 38.68 | Business revenue growth | | Operating Costs | 66,498,126.61 | 36,324,356.63 | 83.07 | Increased in line with revenue growth | | Taxes and Surcharges | 1,328,032.03 | 564,244.51 | 135.36 | Increased invoicing to customers, leading to higher related tax accruals | | Administrative Expenses | 20,100,466.27 | 12,987,991.57 | 54.76 | Increased expenses related to subsidiaries | | Financial Expenses | 1,620,161.83 | -2,384,379.25 | 167.95 | Increased expenses from bank acceptance bill discounting | | Other Income | 2,657,417.85 | - | Not applicable | Received VAT immediate refund | | Investment Income | 590,565.11 | 6,702,657.41 | -91.19 | Implementation of new financial instrument standards | | Fair Value Change Gains | 2,034,082.19 | - | Not applicable | Implementation of new financial instrument standards | | Credit Impairment Losses | -2,614,578.26 | -1,813,864.51 | 44.14 | Increase in accounts receivable | | Asset Disposal Gains | - | -20,814.01 | -100.00 | No asset disposals during the reporting period | | Non-operating Expenses | 200,000.00 | 75,000.00 | 166.67 | Increased external donations | | Net Other Comprehensive Income After Tax | 3,959,840.19 | - | Not applicable | Implementation of new financial instrument standards | Cash Flow Statement Item Changes Operating cash flow turned positive, sales-related cash increased, and investing activities saw higher capital expenditures for projects Cash Flow Statement Item Changes Overview | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | Change (%) | Reason | | :--- | :--- | :--- | :--- | :--- | | Cash Received from Sales of Goods and Provision of Services | 196,564,385.09 | 90,835,108.87 | 116.40 | Increase due to bank acceptance bill discounting | | Tax Refunds Received | 2,657,417.85 | - | Not applicable | Received VAT immediate refund | | Other Cash Received Related to Operating Activities | 4,615,374.82 | 13,774,319.45 | -66.49 | Decrease in government subsidies | | Cash Paid to and for Employees | 51,267,725.10 | 32,460,600.40 | 57.94 | Payment of year-end bonuses accrued at previous year-end | | Taxes Paid | 40,251,450.86 | 21,547,524.31 | 86.80 | Payment of corporate income tax and VAT accrued at previous year-end | | Cash Received from Investment Recovery | 290,000,000.00 | 522,000,000.00 | -44.44 | Decrease in structured deposits recovered | | Cash Received from Investment Income | 3,264,646.54 | 6,702,657.41 | -51.29 | Decrease in structured deposits recovered | | Cash Paid for Construction of Fixed Assets, Intangible Assets, and Other Long-term Assets | 39,520,410.51 | 4,853,959.12 | 714.19 | Increase in payments for fundraising projects | | Cash Received from Borrowings | 98,671,111.12 | - | Not applicable | Obtained bank loans | Progress of Significant Events No significant event developments requiring disclosure occurred during the reporting period - No analysis or explanation of the progress, impact, and solutions of significant events during the reporting period[20] Overdue Unfulfilled Commitments The company had no overdue unfulfilled commitments during the reporting period - No overdue unfulfilled commitments during the reporting period[21] Warning of Significant Net Profit Changes The company did not issue a warning for potential cumulative net profit loss or significant change for the next reporting period - The company did not forecast a potential loss in cumulative net profit from the beginning of the year to the end of the next reporting period, or a significant change compared to the same period last year[21] Appendix This section includes unaudited consolidated and parent company financial statements and details adjustments for the first adoption of new revenue standards Financial Statements Unaudited consolidated and parent company financial statements for Q1 2020 are presented, covering balance sheet, income statement, and cash flow Consolidated Balance Sheet Consolidated total assets increased by 2.50% to CNY 1.59 billion, with total liabilities at CNY 345 million and owners' equity at CNY 1.25 billion - As of March 31, 2020, the company's consolidated total assets were CNY 1,593,838,750.04, an increase of 2.50% from December 31, 2019[22] - Consolidated current assets totaled CNY 1,315,432,285.46, and non-current assets totaled CNY 278,406,464.58[23] - Consolidated total liabilities were CNY 345,012,137.04, and total owners' equity was CNY 1,248,826,613.00[24] Parent Company Balance Sheet Parent company total assets increased by 2.54% to CNY 1.57 billion, with total liabilities at CNY 305 million and owners' equity at CNY 1.26 billion - As of March 31, 2020, the parent company's total assets were CNY 1,568,847,797.78, an increase of 2.54% from December 31, 2019[26] - Parent company current assets totaled CNY 1,255,807,322.60, and non-current assets totaled CNY 313,040,475.18[25][26] - Parent company total liabilities were CNY 305,558,205.93, and total owners' equity was CNY 1,263,289,591.85[26][27] Consolidated Income Statement Consolidated operating revenue grew by 38.68% to CNY 144 million, while net profit attributable to parent company shareholders decreased by 2.57% - In the first quarter of 2020, the company achieved consolidated total operating revenue of CNY 144,158,740.09, a year-on-year increase of 38.68%[28] - Net profit attributable to parent company shareholders was CNY 34,616,282.81, a year-on-year decrease of 2.57%[29] - Consolidated total comprehensive income was CNY 38,576,123.00[29] Parent Company Income Statement Parent company operating revenue reached CNY 141 million, with net profit increasing by 19.74% to CNY 43 million - In the first quarter of 2020, the parent company achieved operating revenue of CNY 141,875,952.48[31] - Parent company net profit was CNY 43,038,880.08, a year-on-year increase of 19.74%[31] - Parent company total comprehensive income was CNY 46,998,720.27[32] Consolidated Cash Flow Statement Net cash flow from operating activities significantly improved to CNY 20 million, while investing activities showed a net outflow of CNY 183 million - In the first quarter of 2020, net cash flow from operating activities was CNY 20,456,528.02, a significant improvement from CNY -43,922,744.18 in the same period last year[33] - Net cash flow from investing activities was CNY -183,255,763.97, primarily due to increased expenditures for the construction of fixed assets[33] - Net cash flow from financing activities was CNY 98,671,111.12, primarily due to obtaining bank loans[33] - Cash and cash equivalents at period end were CNY 179,480,234.52[33] Parent Company Cash Flow Statement Parent company operating cash flow significantly improved to CNY 26 million, with investing activities showing a net outflow of CNY 85 million - In the first quarter of 2020, parent company net cash flow from operating activities was CNY 26,687,415.38, a significant improvement from CNY -41,807,802.37 in the same period last year[35] - Parent company net cash flow from investing activities was CNY -85,804,593.23[35] - Cash and cash equivalents at period end were CNY 170,491,359.32[35] Adjustments for New Revenue Standards The company adopted new revenue standards from January 1, 2020, reclassifying accounts receivable, contract assets, advances from customers, and contract liabilities Consolidated Balance Sheet Adjustments Consolidated balance sheet adjustments for new revenue standards involved reclassifying accounts receivable and advances from customers, without impacting total assets or equity - Effective January 1, 2020, new revenue standards were adopted, leading to adjustments in the consolidated balance sheet[39] Consolidated Balance Sheet Key Adjustments | Item | December 31, 2019 (CNY) | January 1, 2020 (CNY) | Adjustment (CNY) | | :--- | :--- | :--- | :--- | | Accounts Receivable | 174,729,111.21 | 124,440,907.26 | -50,288,203.95 | | Contract Assets | - | 50,288,203.95 | 50,288,203.95 | | Advances from Customers | 33,707,213.16 | - | -33,707,213.16 | | Contract Liabilities | - | 33,707,213.16 | 33,707,213.16 | - The adjustments only involve reclassification between accounts receivable and contract assets, and advances from customers and contract liabilities, without affecting total assets, liabilities, and owners' equity[40] Parent Company Balance Sheet Adjustments Parent company balance sheet adjustments for new revenue standards involved reclassifying accounts receivable and advances from customers, without impacting total assets or equity - Effective January 1, 2020, new revenue standards were adopted, leading to adjustments in the parent company balance sheet[45] Parent Company Balance Sheet Key Adjustments | Item | December 31, 2019 (CNY) | January 1, 2020 (CNY) | Adjustment (CNY) | | :--- | :--- | :--- | :--- | | Accounts Receivable | 174,730,183.21 | 124,441,979.26 | -50,288,203.95 | | Contract Assets | - | 50,288,203.95 | 50,288,203.95 | | Advances from Customers | 33,707,213.16 | - | -33,707,213.16 | | Contract Liabilities | - | 33,707,213.16 | 33,707,213.16 | - The adjustments only involve reclassification between accounts receivable and contract assets, and advances from customers and contract liabilities, without affecting the parent company's total assets, liabilities, and owners' equity[45] Explanation of Retrospective Adjustments for New Revenue Standards The company did not retrospectively adjust prior comparative data for the first adoption of new revenue and lease standards from 2020 - The company did not retrospectively adjust prior comparative data for the first adoption of new revenue standards and new lease standards from 2020[46] Audit Report This quarterly report is unaudited and therefore does not include an audit report - This quarterly report is unaudited and does not include an audit report[46]