龙软科技(688078) - 2023 Q3 - 季度财报

Financial Summary and Operating Highlights Key Financial Data The company achieved steady performance growth in the first three quarters of 2023, with operating revenue increasing by 18.23% and net profit attributable to shareholders increasing by 25.14%; Q3 single-quarter revenue and profit also grew by 15.18% and 14.44% respectively, indicating sustained momentum Financial Performance Highlights | Item | Year-to-Date (Jan-Sep) (yuan) | YTD YoY Change (%) | Current Period (Q3) (yuan) | QoQ Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 251,891,840.28 | 18.23% | 112,716,727.86 | 15.18% | | Net Profit Attributable to Shareholders | 63,787,291.56 | 25.14% | 25,641,304.55 | 14.44% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 63,241,895.15 | 23.32% | 25,856,370.16 | 14.20% | | Basic Earnings Per Share (yuan/share) | 0.89 | 23.61% | 0.36 | 16.13% | | Net Cash Flow from Operating Activities | -31,114,703.61 | Not Applicable | -19,083,131.63 | Not Applicable | Balance Sheet Highlights | Item | End of Current Period (yuan) | End of Previous Year (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 849,203,360.85 | 798,614,906.16 | 6.33% | | Total Equity Attributable to Shareholders | 697,844,123.76 | 646,100,310.64 | 8.01% | Non-recurring Gains and Losses Analysis Year-to-date, the company's total non-recurring gains and losses amounted to 545,396.41 yuan, with minimal impact on net profit, primarily from fair value changes in financial assets; notably, VAT refunds of 8.33 million yuan are classified as recurring income due to their ongoing nature and relevance to core business Non-recurring Gains and Losses | Major Non-recurring Gains and Losses Items | Year-to-Date Amount (yuan) | | :--- | :--- | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities | 1,210,614.94 | | Other Non-operating Income and Expenses | -415,700.10 | | Debt Restructuring Gains/Losses | -230,592.00 | | Total | 545,396.41 | - The company classified VAT refunds of 8,328,873.03 yuan, due to their close relation to software product sales and the long-term validity of the policy, as recurring income, not non-recurring gains or losses[8] Analysis of Major Financial Indicator Changes At the end of the reporting period, several financial indicators showed significant changes, with inventory and contract assets increasing due to more uncompleted projects and long warranty periods, while goodwill arose from a subsidiary acquisition, and notes receivable and contract liabilities decreased due to bill maturity and project settlement Financial Indicator Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Notes Receivable | -68.00 | Acceptance bills matured and were paid, increasing cash receipts | | Inventory | 37.56 | Increased implementation costs for uncompleted projects at period-end | | Contract Assets | 83.17 | Individual large projects have warranty periods exceeding one year | | Goodwill | 100.00 | Acquisition of subsidiary Boyle (Hebei) Intelligent Mining Co., Ltd. in this period | | Contract Liabilities | -54.65 | Project completion and transfer of advance receipts | | Net Cash Flow from Investing Activities | 98.89 | Reduced purchase of bank wealth management products in this period | Shareholder Information Shareholding Structure As of the end of the reporting period, the company had 3,907 common shareholders, with controlling shareholder Mr. Mao Shanjun holding 46.16%, indicating a relatively concentrated equity structure; among the top ten shareholders, Mao Shanjun and Li Shangrong are siblings, and Li Shangrong and Yin Huayou are spouses - As of the end of the reporting period, the total number of common shareholders was 3,907 accounts[11] Top Shareholders | Shareholder Name | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | | Mao Shanjun | 33,259,466 | 46.16 | | Ren Yongzhi | 2,118,179 | 2.94 | | Guo Bing | 1,629,807 | 2.26 | | Li Shangrong | 1,253,205 | 1.74 | | Yin Huayou | 1,253,205 | 1.74 | - Controlling shareholder Mr. Mao Shanjun and individual shareholder Ms. Li Shangrong are siblings; individual shareholder Ms. Li Shangrong and Mr. Yin Huayou are spouses[12] Financial Statements Consolidated Financial Statements Consolidated financial statements show steady growth in total assets and net assets, with double-digit revenue and net profit growth in the first three quarters, but persistently negative operating cash flow indicates collection pressure during rapid development Consolidated Balance Sheet As of September 30, 2023, total assets reached 849.20 million yuan, up 6.33% from year-end, driven by increases in accounts receivable, inventory, and contract assets; liabilities remained stable, while owner's equity grew 8.01% due to accumulated profits, with 9.06 million yuan in new goodwill from acquisitions this period Consolidated Balance Sheet Highlights | Item | September 30, 2023 (yuan) | December 31, 2022 (yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 849,203,360.85 | 798,614,906.16 | +6.33% | | Total Liabilities | 149,762,392.09 | 152,514,595.52 | -1.80% | | Total Equity Attributable to Parent Company Owners | 697,844,123.76 | 646,100,310.64 | +8.01% | - New goodwill of 9,055,045.09 yuan was recognized at the end of the reporting period, primarily due to the acquisition of subsidiary Boyle (Hebei) Intelligent Mining Co., Ltd. in this period[9][14] Consolidated Income Statement In the first three quarters of 2023, the company achieved total operating revenue of 251.89 million yuan, up 18.23% year-on-year, and net profit attributable to the parent company of 63.79 million yuan, up 25.14%; R&D expenses increased by 3.29%, representing 12.87% of revenue, maintaining a high investment level Consolidated Income Statement Highlights | Item | First Three Quarters 2023 (yuan) | First Three Quarters 2022 (yuan) | YoY Growth | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 251,891,840.28 | 213,060,678.78 | 18.23% | | Total Operating Costs | 178,468,710.57 | 162,043,710.23 | 10.14% | | R&D Expenses | 32,413,219.69 | 31,382,294.38 | 3.29% | | Net Profit Attributable to Parent Company Shareholders | 63,787,291.56 | 50,973,682.02 | 25.14% | | Basic Earnings Per Share (yuan/share) | 0.89 | 0.72 | 23.61% | Consolidated Cash Flow Statement In the first three quarters of 2023, net cash flow from operating activities was -31.11 million yuan (compared to -32.24 million yuan in the prior year), remaining negative due to slower sales collections than cost and expense outlays; net cash outflow from investing activities significantly narrowed to -0.94 million yuan, primarily due to reduced purchases of wealth management products Consolidated Cash Flow Statement Highlights | Item | First Three Quarters 2023 (yuan) | First Three Quarters 2022 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -31,114,703.61 | -32,241,191.22 | | Net Cash Flow from Investing Activities | -935,529.89 | -84,065,038.07 | | Net Cash Flow from Financing Activities | -12,831,108.40 | -16,932,725.75 | | Net Increase in Cash and Cash Equivalents | -44,881,341.90 | -133,238,955.04 | Parent Company Financial Statements Parent company financial statement data closely mirrors consolidated data, indicating that core business operations are primarily conducted by the parent company, with financial indicator trends largely consistent with consolidated figures Parent Company Balance Sheet Parent company total assets were 859.28 million yuan, slightly higher than consolidated figures, primarily due to long-term equity investments in subsidiaries and intercompany eliminations; overall asset and liability structure aligns with consolidated statements Parent Company Balance Sheet Highlights | Item | September 30, 2023 (yuan) | December 31, 2022 (yuan) | | :--- | :--- | :--- | | Total Assets | 859,280,815.55 | 802,854,886.37 | | Total Liabilities | 153,344,859.25 | 152,312,240.86 | | Total Owner's Equity | 705,935,956.30 | 650,542,645.51 | Parent Company Income Statement The parent company achieved operating revenue of 251.71 million yuan and net profit of 67.27 million yuan in the first three quarters of 2023, highly consistent with consolidated figures, confirming that most operations are directly conducted by the parent company Parent Company Income Statement Highlights | Item | First Three Quarters 2023 (yuan) | First Three Quarters 2022 (yuan) | | :--- | :--- | :--- | | Operating Revenue | 251,708,609.74 | 209,914,239.50 | | Net Profit | 67,272,381.37 | 52,614,813.47 | Parent Company Cash Flow Statement Parent company net cash flow from operating activities was -26.59 million yuan in the first three quarters, slightly better than the consolidated -31.11 million yuan, but still a net outflow; investing and financing cash flows were largely consistent with consolidated statements Parent Company Cash Flow Statement Highlights | Item | First Three Quarters 2023 (yuan) | First Three Quarters 2022 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -26,592,961.04 | -30,346,575.16 | | Net Cash Flow from Investing Activities | -6,450,211.89 | -87,047,338.07 | | Net Cash Flow from Financing Activities | -12,831,108.40 | -16,932,725.75 |