亿嘉和(603666) - 2020 Q3 - 季度财报

Important Notes Report Authenticity and Audit Status The management guarantees the authenticity and completeness of this quarterly report and confirms the financial statements are unaudited - The Board of Directors, Board of Supervisors, and all directors, supervisors, and senior management guarantee the quarterly report is true, accurate, and complete, with no false records, misleading statements, or major omissions[6] - The company's third-quarter report for 2020 is unaudited[6] Company Profile Key Financial Data The company achieved steady growth in the first three quarters of 2020, though operating cash flow remained negative but improved Key Financial Indicators for the First Three Quarters of 2020 | Indicator | YTD (Jan-Sep) | Prior YTD (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | RMB 527,028,433.83 | RMB 369,865,303.65 | 42.49% | | Net Profit Attributable to Shareholders | RMB 161,456,484.06 | RMB 124,066,351.82 | 30.14% | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) | RMB 112,812,749.96 | RMB 94,744,602.76 | 19.07% | | Net Cash Flow from Operating Activities | RMB -22,141,060.59 | RMB -44,126,467.24 | -49.82% (Improvement) | | Basic Earnings Per Share (RMB/Share) | 1.1729 | 0.9012 | 30.15% | | Weighted Average Return on Equity (%) | 12.67% | 11.85% | Increased by 0.82 p.p. | - In the first three quarters of 2020, total non-recurring gains and losses amounted to RMB 48.64 million, primarily consisting of RMB 51.11 million in government subsidies[9][10] - The company acquired a 51% stake in Nanjing Tuodao Medical Technology Co, Ltd in August 2020, which has been included in the consolidated financial statements[8] Shareholder Information The company had 8,396 shareholders, with the controlling shareholder holding 31.60%, and some major shareholders have pledged shares - As of the end of the reporting period, the total number of common shareholders was 8,396[12] Top Ten Shareholders | Shareholder Name | Shareholding (million shares) | Percentage (%) | Pledge Status | | :--- | :--- | :--- | :--- | | Zhu Fuyun | 43.81 | 31.60 | None | | Nanjing Ruibei Investment Management Center (LP) | 21.17 | 15.27 | None | | Nanjing Shijie Investment Management Center (LP) | 8.82 | 6.36 | Pledged 3.36 million shares | | Zhang Jing | 7.84 | 5.65 | None | | Xu Chunshan | 6.47 | 4.67 | Pledged 0.86 million shares | | Lan Xinli | 6.47 | 4.67 | Pledged 0.86 million shares | - Shareholder relationship disclosure: Nanjing Ruibei Investment Management Center (LP) is controlled by Zhu Fuyun, and Zhang Jing is a person acting in concert with Zhu Fuyun[13] Significant Matters Analysis of Significant Changes in Key Financial Statement Items and Indicators Significant financial changes were driven by business growth, investment projects, new borrowings, and accounting standard adoption Major Changes in Balance Sheet Items (2020-09-30 vs 2019-12-31) | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 175.77% | Increase in accounts receivable corresponding to revenue growth | | Construction in Progress | 231.78% | Increased spending on fundraising investment projects | | Notes Receivable | -93.78% | Decrease in commercial acceptance bills received from sales collections | | Short-term Borrowings | N/A | New short-term bank loans | | Notes Payable | 1,396.70% | Increased use of bank acceptance bills to pay for goods | | Advances from Customers | -100.00% | Reclassified to contract liabilities upon adoption of new revenue standard | Major Changes in Income Statement Items (Jan-Sep 2020 vs Jan-Sep 2019) | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Revenue | 42.49% | Significant business growth compared to the same period last year | | Cost of Goods Sold | 65.10% | Increased in line with revenue growth | | R&D Expenses | 49.27% | Increased R&D investment to enhance competitiveness | | Finance Costs | -127.65% | Increase in interest from bill discounting and borrowings | | Non-operating Income | 140.09% | Increase in government subsidies received | Major Changes in Cash Flow Statement Items (Jan-Sep 2020 vs Jan-Sep 2019) | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Cash Paid for Fixed & Intangible Assets | 215.23% | Increased spending on fundraising investment projects | | Cash Received from Borrowings | N/A | Received short-term bank loans | | Cash Received from Investments | -99.48% | Primarily due to investment payments from minority shareholders for a subsidiary merged under common control | Progress of Significant Matters The company is advancing a non-public A-share offering and has completed the acquisition of Nanjing Tuodao Medical Technology - The company's application for a non-public offering of A-shares was accepted by the CSRC on October 30, 2020, but final approval remains uncertain[17][18] - The company acquired a 51% stake in Nanjing Tuodao Medical Technology Co, Ltd for RMB 0 in August 2020, which is now a consolidated subsidiary[18][19] Appendix Financial Statements This appendix contains the unaudited consolidated and parent company financial statements as of September 30, 2020 Consolidated Balance Sheet Total assets reached RMB 1.76 billion, up 13.47% YTD, driven by accounts receivable and construction in progress Key Items of Consolidated Balance Sheet (2020-09-30) | Item | Amount (RMB) | Change from Year-End | | :--- | :--- | :--- | | Total Assets | 1,764,444,422.57 | 13.47% | | Total Current Assets | 1,311,546,287.14 | 1.12% | | Total Non-current Assets | 452,898,135.43 | 75.57% | | Total Liabilities | 411,845,191.93 | 16.90% | | Equity Attributable to Parent | 1,349,771,498.07 | 12.23% | Parent Company Balance Sheet The parent company's total assets were RMB 1.77 billion, reflecting significant growth in construction in progress and long-term investments Key Items of Parent Company Balance Sheet (2020-09-30) | Item | Amount (RMB) | Change from Year-End | | :--- | :--- | :--- | | Total Assets | 1,774,143,849.01 | 16.0% | | Total Liabilities | 381,204,636.82 | 20.3% | | Total Equity | 1,392,939,212.19 | 14.8% | Consolidated Income Statement The company achieved revenue of RMB 527 million (+42.49% YoY) and net profit of RMB 161 million (+30.14% YoY) in the first three quarters Key Items of Consolidated Income Statement (Jan-Sep 2020) | Item | Q1-Q3 2020 (RMB) | Q1-Q3 2019 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | 527,028,433.83 | 369,865,303.65 | +42.49% | | Total Cost of Sales | 393,029,269.78 | 257,630,047.16 | +52.55% | | Operating Profit | 147,785,783.33 | 124,802,467.51 | +18.42% | | Profit Before Tax | 198,398,458.24 | 145,667,263.10 | +36.20% | | Net Profit | 164,262,267.43 | 124,066,351.82 | +32.40% | | Net Profit Attributable to Parent | 161,456,484.06 | 124,066,351.82 | +30.14% | Parent Company Income Statement The parent company's revenue and net profit exceeded consolidated figures, indicating it is the primary profit contributor Key Items of Parent Company Income Statement (Jan-Sep 2020) | Item | Q1-Q3 2020 (RMB) | Q1-Q3 2019 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 537,471,872.07 | 369,865,303.65 | +45.32% | | Operating Profit | 186,653,915.41 | 132,876,775.12 | +40.47% | | Net Profit | 194,301,762.09 | 132,120,920.99 | +47.06% | Consolidated Cash Flow Statement Operating cash flow was negative RMB 22.14 million but improved significantly YoY, while financing activities were positive due to new loans Summary of Consolidated Cash Flow Statement (Jan-Sep 2020) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | -22,141,060.59 | | Net Cash Flow from Investing Activities | -30,682,787.30 | | Net Cash Flow from Financing Activities | 21,463,020.48 | | Net Increase in Cash & Cash Equivalents | -31,646,114.54 | Parent Company Cash Flow Statement The parent company generated positive operating cash flow, but large investment outflows resulted in a net decrease in cash Summary of Parent Company Cash Flow Statement (Jan-Sep 2020) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 10,895,979.17 | | Net Cash Flow from Investing Activities | -89,025,699.27 | | Net Cash Flow from Financing Activities | 24,012,798.24 | | Net Increase in Cash & Cash Equivalents | -54,116,921.86 | Explanation of Adjustments for Accounting Standard Changes The company adopted the new revenue standard, reclassifying "advances from customers" to "contract liabilities" with no impact on equity - The company has implemented the new revenue standard since January 1, 2020[44][49] Adjustments for New Revenue Standard (Consolidated Statement) | Item | Pre-adjustment (2019-12-31) | Post-adjustment (2020-01-01) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Advances from Customers | RMB 33,707,213.16 | 0 | RMB -33,707,213.16 | | Contract Liabilities | 0 | RMB 33,707,213.16 | RMB +33,707,213.16 |