蓝特光学(688127) - 2021 Q3 - 季度财报

Financial Summary and Operating Analysis This section provides an overview of the company's financial performance, key operating metrics, non-recurring gains and losses, and significant changes in financial indicators Key Financial Data In Q3 2021, the company's operating revenue declined by 22.01% and net profit attributable to parent company shareholders by 43.46% year-on-year, with year-to-date figures also showing declines despite a significant 70% increase in R&D investment Core Financial Indicators for Q3 and YTD 2021 | Indicator | Current Period (Q3) (Yuan) | Q3 YoY Change (%) | Year-to-Date (YTD) (Yuan) | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 108,238,670.96 | -22.01% | 315,408,764.68 | -2.28% | | Net Profit Attributable to Shareholders of Listed Company | 33,151,899.06 | -43.46% | 109,398,989.66 | -14.40% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 24,722,350.65 | -55.65% | 83,159,912.68 | -29.54% | | Net Cash Flow from Operating Activities | Not Applicable | Not Applicable | 140,025,614.61 | -9.75% | | Basic EPS (Yuan/share) | 0.08 | -50.00% | 0.27 | -22.86% | | Total R&D Investment | 12,284,950.22 | 71.06% | 31,607,847.09 | 69.40% | Operating Performance Analysis The company's performance decline was primarily due to a 38.55% drop in optical prism sales, partially offset by a 46.96% growth in glass aspherical lens business, with net profit impacted by lower revenue, reduced gross margin, share-based payment expenses, and increased R&D costs - Revenue Changes for Key Products in the Current Period: * Optical Prisms: Sales revenue of 62,160,000 Yuan, a 38.55% year-on-year decrease, primarily due to terminal product technology upgrades and design changes[11] * Glass Aspherical Lenses: Sales revenue of 26,460,000 Yuan, a 46.96% year-on-year increase, mainly benefiting from rising demand in downstream markets like automotive lenses and lasers[11] * Glass Wafers: Sales revenue of 8,860,000 Yuan, a 22.70% year-on-year decrease, primarily due to fluctuations in demand from some customers[11] - Analysis of Key Reasons for Net Profit Decline: * Gross Profit Decrease: Due to declining operating revenue and structural changes, the comprehensive gross margin decreased by 12.94 percentage points, leading to a 32,810,000 Yuan year-on-year reduction in gross profit, a 38.41% decrease[12] * Share-based Payment Expenses: An additional 4,120,000 Yuan in share-based payment expenses incurred from implementing the equity incentive plan[15] * Increased R&D Expenses: R&D expenses (excluding share-based payments) increased by 3,270,000 Yuan year-on-year, a 45.59% increase, primarily invested in new micro-prism processing technology R&D projects[15] Non-recurring Gains and Losses Year-to-date, the company's total non-recurring gains and losses amounted to 26.2391 million Yuan, significantly impacting current period profit, primarily from investment income on transactional financial assets and government grants Key Non-recurring Gains and Losses Items Year-to-Date | Item | Amount (Yuan) | | :--- | :--- | | Government Grants Recognized in Current Profit or Loss | 8,892,088.43 | | Gains/Losses from Fair Value Changes and Investment Income from Transactional Financial Assets | 21,393,166.79 | | Gains/Losses from Disposal of Non-current Assets | 46,027.00 | | Total | 26,239,076.98 | Explanation of Major Financial Indicator Changes During the reporting period, several financial indicators showed significant changes: cash and cash equivalents decreased by 47.16% due to increased wealth management expenditures, while notes payable and other payables significantly rose; investment income surged by 851.57% from increased wealth management returns, and financing cash flow decreased due to IPO proceeds in the prior year Major Financial Indicator Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | -47.16 | Primarily due to increased wealth management expenditures | | Notes Payable | 395.39 | Primarily due to increased payments via bank acceptance bills | | Other Payables | 186.81 | Primarily due to increased dividends payable for restricted shares | | R&D Expenses | 69.40 | Primarily due to increased R&D personnel salaries and share-based payments | | Investment Income | 851.57 | Primarily due to increased investment income from wealth management products | | Net Cash Flow from Investing Activities | -85.92 | Primarily due to increased wealth management and fixed asset investment expenditures in the current period | | Net Cash Flow from Financing Activities | -109.18 | Primarily due to receiving IPO proceeds in the same period last year | Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the top ten shareholders' holdings Shareholding Status As of the reporting period end, the company had 8,337 common shareholders, with a relatively concentrated equity structure where the top ten shareholders collectively held over 70%, including controlling shareholder Xu Yunming with 37.41% and second-largest shareholder Wang Fangli with 13.51%, both domestic natural persons holding restricted shares - As of the reporting period end, the company had 8,337 common shareholders[26] Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | | Xu Yunming | Domestic Natural Person | 150,690,400 | 37.41 | | Wang Fangli | Domestic Natural Person | 54,414,400 | 13.51 | | Wang Xiaoming | Domestic Natural Person | 18,886,000 | 4.69 | | Zhang Yinsheng | Domestic Natural Person | 16,330,000 | 4.05 | | Boxin Growth (Tianjin) Equity Investment Partnership (Limited Partnership) | Other | 11,166,701 | 2.77 | | Jiaxing Lantuo Equity Investment Partnership (Limited Partnership) | Other | 8,520,000 | 2.11 | | Hangzhou Yuanning Huixin Investment Partnership (Limited Partnership) | Other | 7,300,000 | 1.81 | | Xu Zhou | Domestic Natural Person | 6,251,203 | 1.55 | | Zhejiang Jiaxin Silk Co., Ltd. | Domestic Non-state-owned Legal Person | 5,680,000 | 1.41 | | Lanshan Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 5,680,000 | 1.41 | Quarterly Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement for the quarter, providing a detailed financial overview Consolidated Balance Sheet As of September 30, 2021, total assets reached 1.629 billion Yuan, increasing by 6.04% from year-end, with total liabilities at 183 million Yuan and total equity at 1.446 billion Yuan, driven by significant transactional financial assets and increased notes payable Key Balance Sheet Items (September 30, 2021) | Item | September 30, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,628,891,228.49 | 1,536,071,226.26 | 6.04% | | Total Liabilities | 182,514,451.43 | 151,983,586.72 | 20.09% | | Total Equity Attributable to Parent Company Owners | 1,445,660,698.65 | 1,384,105,187.44 | 4.45% | | Total Equity | 1,446,376,777.06 | 1,384,087,639.54 | 4.50% | Consolidated Income Statement In the first three quarters of 2021, total operating revenue was 315 million Yuan, down 2.28% year-on-year, with total operating costs increasing by 21.13% to 219 million Yuan, leading to a 14.40% decline in net profit attributable to parent company shareholders to 109 million Yuan Key Income Statement Items (First Three Quarters of 2021) | Item | First Three Quarters of 2021 (Yuan) | First Three Quarters of 2020 (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 315,408,764.68 | 322,773,810.66 | -2.28% | | II. Total Operating Costs | 219,133,552.50 | 180,903,340.02 | 21.13% | | Including: R&D Expenses | 31,607,847.09 | 18,659,083.53 | 69.40% | | III. Operating Profit | 126,142,287.09 | 148,636,364.17 | -15.13% | | V. Net Profit | 110,132,615.97 | 128,011,805.53 | -13.97% | | Net Profit Attributable to Parent Company Shareholders | 109,398,989.66 | 127,861,787.17 | -14.44% | | Basic EPS (Yuan/share) | 0.27 | 0.35 | -22.86% | Consolidated Cash Flow Statement In the first three quarters of 2021, net cash flow from operating activities was 140 million Yuan, down 9.75%, with net cash outflow from investing activities at 87.47 million Yuan and from financing activities at 45.15 million Yuan, resulting in period-end cash and cash equivalents of 51.16 million Yuan Key Cash Flow Statement Items (First Three Quarters of 2021) | Item | First Three Quarters of 2021 (Yuan) | First Three Quarters of 2020 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 140,025,614.61 | 155,146,138.64 | | Net Cash Flow from Investing Activities | -87,474,895.48 | -621,089,523.39 | | Net Cash Flow from Financing Activities | -45,152,958.65 | 491,973,239.69 | | Net Increase in Cash and Cash Equivalents | 6,836,850.56 | 24,959,944.57 | | Cash and Cash Equivalents at Period-End | 51,157,376.81 | 53,852,004.64 |