永创智能(603901) - 2021 Q3 - 季度财报

Report Overview Important Notice This report is the unaudited third-quarter report of Hangzhou Yongchuang Intelligent Equipment Co., Ltd. for 2021, with the board, supervisory board, and senior management guaranteeing its truthfulness, accuracy, and completeness - This report is the unaudited third-quarter report for 2021[1][4] - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[2] - Company head Luo Bangyi, chief accountant Huang Xingpeng, and head of accounting Li Haiyan guarantee the truthfulness, accuracy, and completeness of the financial statement information[3] Key Financial Data Key Accounting Data and Financial Indicators The company achieved significant financial growth in Q3 2021 and year-to-date, with substantial increases in operating revenue and net profit attributable to shareholders, alongside improved EPS and ROE 2021 Third Quarter and Year-to-Date Key Accounting Data and Financial Indicators | Item | Current Period (RMB) | YoY Change in Current Period (%) | Year-to-Date (RMB) | YoY Change Year-to-Date (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 739,980,715.68 | 24.85 | 1,980,258,680.11 | 45.07 | | Net Profit Attributable to Listed Company Shareholders | 84,937,791.73 | 69.77 | 217,685,484.02 | 60.23 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses | 79,550,629.22 | 77.22 | 209,858,646.76 | 89.37 | | Net Cash Flow from Operating Activities | N/A | N/A | 47,053,861.90 | -41.87 | | Basic Earnings Per Share (RMB/share) | 0.17 | 54.55 | 0.50 | 61.00 | | Diluted Earnings Per Share (RMB/share) | 0.17 | 51.55 | 0.50 | 61.00 | | Weighted Average Return on Net Assets (%) | 4.11 | increased by 0.82 percentage points | 11.72 | increased by 2.60 percentage points | | End of Current Period | | | | | | Total Assets | 4,270,792,639.94 | 13.93 (vs. end of prior year) | | | | Owners' Equity Attributable to Listed Company Shareholders | 2,110,205,860.05 | 37.82 (vs. end of prior year) | | | Non-recurring Gains and Losses Items and Amounts During the reporting period, non-recurring gains primarily stemmed from entrusted investment income, government subsidies, and fair value changes, though non-current asset disposal losses were negative year-to-date 2021 Third Quarter and Year-to-Date Non-recurring Gains and Losses Items and Amounts | Item | Current Period Amount (RMB) | Year-to-Date Amount (RMB) | | :--- | :--- | :--- | | Non-current Asset Disposal Gains and Losses | 1,239,933.59 | -7,025,058.71 | | Government Subsidies Included in Current Profit and Loss | 2,024,927.79 | 7,439,384.31 | | Funds Occupancy Fees Received from Non-financial Enterprises Included in Current Profit and Loss | | 620,389.59 | | Gains and Losses from Entrusted Investment or Asset Management | 2,366,411.02 | 5,433,705.85 | | Gains and Losses from Fair Value Changes and Disposal of Trading Financial Assets and Other Investment Income | 868,666.87 | 2,737,622.70 | | Other Non-operating Income and Expenses, Net | -108,793.91 | -52,822.17 | | Less: Income Tax Impact | 931,049.01 | 1,087,508.15 | | Minority Interest Impact (after tax) | 72,933.84 | 238,876.16 | | Total | 5,387,162.51 | 7,826,837.26 | Changes and Reasons for Key Accounting Data and Financial Indicators Several financial indicators experienced significant changes, primarily influenced by capital expenditure on fundraising projects, sales growth, equity incentive expenses, convertible bond conversion, and raw material stocking strategies Key Accounting Data, Financial Indicators Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Bank Balances_End of Current Period | -38.48 | Continuous investment in fundraising projects and purchase of bank wealth management products | | Trading Financial Assets_End of Current Period | 159.26 | Purchase of bank wealth management products with idle raised funds | | Prepayments_End of Current Period | 69.26 | Increase in sales scale, leading to increased procurement | | Construction in Progress_End of Current Period | 2,874.82 | Investment and construction of fundraising projects | | Intangible Assets_End of Current Period | 37.24 | Acquisition of Zhejiang Longwen increased land use rights and purchase of other land use rights and intellectual property | | Total Non-current Liabilities_End of Current Period | -96.94 | Convertible bonds converted into shares, reducing bonds payable | | Capital Reserve_End of Current Period | 119.55 | Conversion of convertible corporate bonds into shares | | Operating Revenue_Year-to-Date | 45.07 | Strong demand for main packaging equipment business and impact of prior year's epidemic | | Operating Profit_Year-to-Date | 63.26 | Increase in operating revenue scale and growth in gross profit margin | | Net Cash Flow from Operating Activities_Year-to-Date | -41.87 | Increased stocking of raw materials with significant price fluctuations to ensure stable material costs | | Net Cash Flow from Investing Activities_Year-to-Date | -1831.06 | Significant increase in expenditures for company equity purchases and fixed asset investments in fundraising projects | | Net Cash Flow from Financing Activities_Year-to-Date | N/A | Increase in bank borrowings | | Financial Expenses_Current Period | -74.31 | Convertible bonds converted into shares and redeemed, reducing interest amortization | Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 14,675 common shareholders, with key shareholders Lü Jie and Luo Bangyi, the actual controllers, holding a significant combined stake and having an associated relationship - Total number of common shareholders at the end of the reporting period: 14,675[12] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | | Lü Jie | Domestic Natural Person | 171,600,000 | 35.13 | | Luo Bangyi | Domestic Natural Person | 44,680,000 | 9.15 | | Hangzhou Kangchuang Investment Co., Ltd. | Domestic Non-state Legal Person | 27,233,700 | 5.57 | | China Merchants Bank Co., Ltd. - Xingquan Hetai Mixed Securities Investment Fund | Domestic Non-state Legal Person | 13,013,764 | 2.66 | | Bank of China Co., Ltd. - Harvest Leading Advantage Mixed Securities Investment Fund | Domestic Non-state Legal Person | 8,099,747 | 1.66 | - Shareholders Luo Bangyi and Lü Jie are a married couple and jointly the actual controllers of the company. Hangzhou Kangchuang Investment Co., Ltd.'s actual controller is Luo Bangyi[13] Other Reminders Other Important Information Regarding the Company's Operating Performance During the Reporting Period The company's associate, Hangzhou Kairda Welding Robot Co., Ltd., was listed on the STAR Market on October 25, 2021, with the company holding 1.28% of its restricted shares - Hangzhou Kairda Welding Robot Co., Ltd., in which the company holds a stake, was listed on the STAR Market on October 25, 2021[14] - The company holds 1 million restricted shares in Kairda, representing 1.28% of its total share capital, with an investment cost of RMB 20 million[14] Quarterly Financial Statements Type of Audit Opinion The quarterly financial statements are unaudited - The quarterly financial statements are unaudited[15] Financial Statements This section presents the company's unaudited consolidated balance sheet, income statement, and cash flow statement, comprehensively detailing its financial position, operating results, and cash flow at the end of the reporting period Consolidated Balance Sheet As of September 30, 2021, the company's total assets and owners' equity attributable to shareholders increased, while non-current liabilities significantly decreased due to convertible bond conversion, indicating a stable asset structure and capital strength Consolidated Balance Sheet Key Data (September 30, 2021 vs December 31, 2020) | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | | :--- | :--- | :--- | | Cash and Bank Balances | 470,480,878.27 | 764,773,311.68 | | Trading Financial Assets | 210,000,000.00 | 81,000,000.00 | | Accounts Receivable | 527,500,439.05 | 413,483,117.42 | | Inventories | 1,638,200,536.36 | 1,314,013,246.95 | | Total Current Assets | 3,099,885,263.54 | 2,847,918,650.37 | | Total Non-current Assets | 1,170,907,376.40 | 900,794,557.51 | | Total Assets | 4,270,792,639.94 | 3,748,713,207.88 | | Short-term Borrowings | 453,326,977.80 | 377,842,593.62 | | Contract Liabilities | 640,543,708.06 | 584,126,119.63 | | Total Current Liabilities | 2,098,422,110.06 | 1,788,050,071.23 | | Total Non-current Liabilities | 12,478,406.48 | 408,241,617.51 | | Total Liabilities | 2,110,900,516.54 | 2,196,291,688.74 | | Paid-in Capital (or Share Capital) | 488,500,811.00 | 439,407,413.00 | | Capital Reserve | 897,073,661.79 | 408,589,678.82 | | Retained Earnings | 738,850,253.88 | 579,044,839.18 | | Total Owners' Equity Attributable to Parent Company | 2,110,205,860.05 | 1,531,124,111.09 | | Total Owners' Equity | 2,159,892,123.40 | 1,552,421,519.14 | | Total Liabilities and Owners' Equity | 4,270,792,639.94 | 3,748,713,207.88 | - Total assets increased by 13.93% compared to the end of the prior year, and owners' equity attributable to shareholders increased by 37.82%[6] - Total non-current liabilities decreased by 96.94% compared to the end of the prior year, primarily due to the conversion of the company's convertible bonds into shares and a reduction in bonds payable during the current year[9] Consolidated Income Statement In the first three quarters of 2021, the company's total operating revenue and net profit significantly increased, driven by strong demand for its main business and improved gross margins, despite a year-on-year decrease in investment income Consolidated Income Statement Key Data (First Three Quarters of 2021 vs First Three Quarters of 2020) | Item | First Three Quarters of 2021 (RMB) | First Three Quarters of 2020 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,980,258,680.11 | 1,365,041,638.12 | | Operating Costs | 1,330,017,986.68 | 911,413,138.67 | | Selling Expenses | 140,021,519.38 | 112,863,443.51 | | Administrative Expenses | 110,220,088.82 | 79,576,116.86 | | Research and Development Expenses | 106,649,178.36 | 79,381,813.22 | | Financial Expenses | 16,782,282.63 | 23,441,550.59 | | Investment Income | 5,894,146.70 | 21,071,472.97 | | Operating Profit | 259,765,941.81 | 159,113,932.97 | | Total Profit | 252,161,830.42 | 157,839,781.15 | | Net Profit | 216,717,040.98 | 138,165,654.84 | | Net Profit Attributable to Parent Company Shareholders | 217,685,484.02 | 135,856,287.63 | | Basic Earnings Per Share (RMB/share) | 0.50 | 0.31 | | Diluted Earnings Per Share (RMB/share) | 0.50 | 0.31 | - Year-to-date operating revenue increased by 45.07% year-on-year, and net profit attributable to parent company shareholders increased by 60.23% year-on-year[5][10] - Investment income decreased by 72.03% year-on-year, primarily due to gains from raw material forward contracts in the same period last year[10] Consolidated Cash Flow Statement In the first three quarters of 2021, net cash flow from operating activities decreased due to increased inventory, while net cash outflow from investing activities significantly rose for equity purchases and fixed asset investments in fundraising projects; net cash outflow from financing activities decreased due to increased bank borrowings Consolidated Cash Flow Statement Key Data (First Three Quarters of 2021 vs First Three Quarters of 2020) | Item | First Three Quarters of 2021 (RMB) | First Three Quarters of 2020 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 47,053,861.90 | 80,943,473.39 | | Net Cash Flow from Investing Activities | -329,028,587.59 | 19,007,394.27 | | Net Cash Flow from Financing Activities | -12,285,862.17 | -395,111,379.38 | | Net Increase in Cash and Cash Equivalents | -295,266,055.19 | -296,607,265.00 | | Cash and Cash Equivalents at End of Period | 460,625,614.75 | 608,388,155.58 | - Net cash flow from operating activities decreased by 41.87% year-on-year, primarily due to increased stocking of raw materials with significant price fluctuations to ensure stable material costs[6][10] - Net cash flow from investing activities was -RMB 329,028,587.59, a significant increase in outflow compared to the same period last year, mainly due to a substantial increase in equity purchases and fixed asset investments for fundraising projects during the current year[10][24] - Net cash flow from financing activities was -RMB 12,285,862.17, a decrease in outflow compared to the same period last year, primarily due to the company increasing bank borrowings during the current reporting period[10][24] Adjustments for New Lease Standards The company adopted new lease standards starting in 2021, but no adjustments were applicable to the financial statements at the beginning of the current reporting period - Adjustments to financial statements at the beginning of the first year of adoption of new lease standards from 2021 are not applicable[24]