博迁新材(605376) - 2022 Q3 - 季度财报

Financial Summary and Operating Highlights Key Financial Data and Indicators In Q3 2022, the company experienced a significant performance decline, with both operating revenue and net profit attributable to shareholders decreasing by nearly 50% year-over-year, while year-to-date figures also showed double-digit declines and a substantial reduction in net operating cash flow, indicating weakened profitability and operational efficiency Key Income Statement Indicators for Q3 and YTD 2022 | Indicator | Current Period (Q3) (RMB) | YoY Change (%) | YTD (Q1-Q3) (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 126,162,501.48 | -49.75% | 620,894,005.94 | -12.42% | | Net Profit Attributable to Shareholders | 33,926,161.48 | -48.33% | 135,316,414.65 | -23.67% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 30,166,538.10 | -50.00% | 128,360,364.49 | -24.24% | | Basic Earnings Per Share (RMB/share) | 0.13 | -48.00% | 0.52 | -23.53% | | Weighted Average Return on Net Assets | 2.11% | Decreased by 2.28 percentage points | 8.17% | Decreased by 4.01 percentage points | Key Balance Sheet Indicators as of September 30, 2022 | Indicator | End of Current Period (RMB) | Change from End of Prior Year (%) | | :--- | :--- | :--- | | Total Assets | 1,935,555,660.29 | +7.97% | | Owner's Equity Attributable to Shareholders | 1,670,875,754.15 | +5.23% | Non-Recurring Gains and Losses During the reporting period, non-recurring gains and losses primarily comprised government subsidies and fair value changes of financial assets, totaling RMB 3.76 million in Q3 and RMB 6.96 million year-to-date, impacting net profit Details of Non-Recurring Gains and Losses (RMB) | Item | Amount for Current Period | Amount YTD | | :--- | :--- | :--- | | Government Subsidies Included in Current Profit/Loss | 8,533,423.89 | 12,767,237.80 | | Fair Value Changes in Financial Assets | -4,517,982.82 | -5,321,825.87 | | Other Non-Operating Income and Expenses | -47,247.54 | 259,573.22 | | Income Tax Impact | -208,570.15 | -797,459.46 | | Total | 3,759,623.38 | 6,956,050.16 | Analysis of Key Financial Data Changes The company attributes the significant decline in Q3 operating revenue and net profit to reduced product sales, while the year-to-date change in net operating cash flow is primarily due to decreased cash outflow for raw material purchases Explanation of Key Financial Indicator Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue (Current Period) | -49.75% | Primarily due to reduced product sales in the current period | | Net Profit Attributable to Shareholders (Current Period) | -48.33% | Primarily due to reduced operating revenue in the current period | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (Current Period) | -50.00% | Primarily due to reduced operating revenue in the current period | | Net Cash Flow from Operating Activities (YTD) | -94.34% | Primarily due to reduced cash outflow for raw material purchases | Shareholder Information Shareholder Holdings As of Q3 2022, the company had 16,788 shareholders, with the top ten shareholders holding a relatively concentrated stake, including the largest shareholder, Ningbo Guanghongyuan Venture Capital Partnership (Limited Partnership), holding 19.71% with some shares pledged, and certain shareholders identified as parties acting in concert - As of the end of the reporting period, the company had a total of 16,788 common shareholders[14] Top Ten Shareholder Holdings | Shareholder Name | Holding Percentage (%) | Number of Shares | Number of Restricted Shares | Pledge Status | | :--- | :--- | :--- | :--- | :--- | | Ningbo Guanghongyuan Venture Capital Partnership (Limited Partnership) | 19.71% | 51,553,800 | 51,553,800 | Pledged 17,500,000 | | Ningbo Zhongzhi Jucheng Venture Capital Partnership (Limited Partnership) | 8.42% | 22,029,000 | 0 | None | | Xinhui Investment Holdings Co., Ltd. | 8.18% | 21,399,000 | 0 | None | | Ningbo Shenyang Venture Capital Partnership (Limited Partnership) | 6.88% | 18,000,000 | 18,000,000 | None | | Chen Gangqiang | 6.50% | 16,999,200 | 16,999,200 | None | | Ruiyuan Growth Value Mixed Securities Investment Fund | 4.83% | 12,625,013 | 0 | None | - Shareholder Relationship Explanation: Ningbo Guanghongyuan Venture Capital Partnership (Limited Partnership) and Ningbo Shenyang Venture Capital Partnership (Limited Partnership) are parties acting in concert[19] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, the company's total assets reached RMB 1.94 billion, an increase of 7.97% from the prior year-end, driven by a significant rise in inventory and a decrease in cash and notes receivable, while total liabilities increased by 29.26% due to new short-term borrowings, with owner's equity showing steady growth Key Balance Sheet Item Changes (RMB) | Item | September 30, 2022 | December 31, 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,935,555,660.29 | 1,792,645,477.24 | +7.97% | | Cash and Bank Balances | 270,333,420.79 | 429,168,971.47 | -37.01% | | Inventories | 472,859,272.15 | 240,566,265.86 | +96.56% | | Fixed Assets | 742,742,950.02 | 583,667,031.49 | +27.26% | | Total Liabilities | 264,679,906.14 | 204,766,137.74 | +29.26% | | Short-term Borrowings | 100,000,000.00 | 0.00 | N/A | | Accounts Payable | 71,263,683.45 | 119,057,915.22 | -40.15% | | Owner's Equity | 1,670,875,754.15 | 1,587,879,339.50 | +5.23% | Consolidated Income Statement For the first three quarters of 2022, the company reported total operating revenue of RMB 620.89 million, a 12.42% year-over-year decrease, and net profit attributable to shareholders of RMB 135.32 million, down 23.67%, while significantly increasing R&D expenses by 52.0% and recording a large negative financial expense due to exchange gains Key Consolidated Income Statement Items (YTD) | Item | Q1-Q3 2022 (RMB) | Q1-Q3 2021 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 620,894,005.94 | 708,927,445.08 | -12.42% | | Operating Cost | 396,508,367.83 | 428,689,410.56 | -7.51% | | Research and Development Expenses | 47,463,304.35 | 31,227,480.01 | +52.00% | | Financial Expenses | -23,653,266.36 | -1,889,823.80 | -1151.62% | | Total Profit | 165,773,923.96 | 217,810,812.12 | -23.89% | | Net Profit | 135,316,414.65 | 177,271,331.01 | -23.67% | | Basic Earnings Per Share (RMB/share) | 0.52 | 0.68 | -23.53% | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities improved to a net outflow of RMB 0.96 million, while investing activities resulted in a net outflow of RMB 204.02 million primarily for fixed asset acquisition, and financing activities turned into a net inflow of RMB 46.17 million due to new borrowings, leading to a net decrease of RMB 158.84 million in cash and cash equivalents Consolidated Cash Flow Statement Summary (YTD) | Item | Q1-Q3 2022 (RMB) | Q1-Q3 2021 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -960,757.99 | -16,983,906.18 | | Net Cash Flow from Investing Activities | -204,024,899.92 | -359,330,276.84 | | Net Cash Flow from Financing Activities | 46,168,570.63 | -113,342,499.99 | | Net Increase/Decrease in Cash and Cash Equivalents | -158,835,550.68 | -490,837,791.91 | | Cash and Cash Equivalents at End of Period | 266,882,169.94 | 299,698,664.10 | - Cash outflow from investing activities was primarily for the acquisition of fixed assets, intangible assets, and other long-term assets (RMB 210 million paid) and investments (RMB 60 million)[42] - Cash inflow from financing activities mainly stemmed from RMB 100 million in borrowings, while outflows were primarily for dividend and profit distribution or interest payments totaling RMB 52.78 million[42]