亚信安全(688225) - 2023 Q3 - 季度财报

Report Overview The board, supervisory board, and senior management guarantee the report's accuracy and completeness, while the Q3 financial statements remain unaudited Important Notice The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility - The company's board, supervisory board, and senior management assume legal responsibility for the truthfulness, accuracy, and completeness of the report content[2] - Company head Lu Guangming, chief accountant Tang Xugu, and head of accounting department Cai Hongwei guarantee the truthfulness, accuracy, and completeness of financial information[2] Audit Status The financial statements for the third quarter of this reporting period are unaudited - The third-quarter financial statements are unaudited[3] Key Financial Data and Indicators The company experienced a revenue decline and significant net losses in Q3 2023, driven by increased R&D investment, with non-recurring items contributing to overall financial performance Key Accounting Data and Financial Indicators In Q3 2023, the company's operating revenue slightly decreased year-on-year, while net profit attributable to shareholders and non-recurring net profit showed significant losses Key Accounting Data and Financial Indicators for Q3 2023 and Year-to-Date | Item | Current Period (Q3 2023) (RMB) | % Change from Prior Year Period | Year-to-Date (YTD 2023) (RMB) | % Change from Prior Year Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 428,631,503.98 | -1.65 | 991,856,235.62 | -3.59 | | Net Profit Attributable to Shareholders of Listed Company | -39,871,689.60 | -1,066.21 | -211,225,568.24 | N/A | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | -51,408,861.49 | N/A | -243,493,483.69 | N/A | | Net Cash Flow from Operating Activities | N/A | N/A | -609,182,415.35 | N/A | | Basic Earnings Per Share (RMB/share) | -0.1023 | -1,091.54 | -0.5341 | N/A | | Weighted Average Return on Net Assets (%) | -1.76 | Decrease by 1.93 percentage points | -8.57 | Decrease by 1.17 percentage points | | Total R&D Investment | 108,630,420.49 | 37.97 | 317,871,390.30 | 28.75 | | R&D Investment as % of Operating Revenue | 25.34 | Increase by 7.28 percentage points | 32.05 | Increase by 8.05 percentage points | Key Balance Sheet Indicators as of Q3 2023 | Item | End of Current Period (2023-09-30) (RMB) | End of Prior Year (2022-12-31) (RMB) | % Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets | 3,020,077,766.83 | 3,681,530,966.95 | -17.97 | | Owners' Equity Attributable to Shareholders of Listed Company | 2,191,051,608.33 | 2,646,021,699.68 | -17.19 | Non-recurring Gains and Losses During the reporting period, the company's non-recurring gains and losses primarily stemmed from government subsidies, bank wealth management income, and fair value changes Non-recurring Gains and Losses Items and Amounts for Q3 2023 and Year-to-Date | Item | Amount for Current Period (RMB) | Amount Year-to-Date (RMB) | Explanation | | :--- | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -215,474.11 | -1,226,747.90 | | | Government Subsidies Included in Current Profit/Loss | 8,314,107.61 | 21,080,749.26 | | | Gains/Losses from Entrusted Investments or Asset Management | 8,118,893.79 | 21,277,610.59 | Bank wealth management income | | Gains/Losses from Fair Value Changes and Investment Income from Disposal of Trading Financial Assets | -2,644,383.89 | 3,304,322.22 | Bank wealth management income (fair value changes from prior period reclassified as investment income upon realization) | | Reversal of Impairment Provisions for Receivables and Contract Assets Subject to Separate Impairment Testing | | 413,257.85 | | | Other Gains/Losses Meeting the Definition of Non-recurring Items (Share-based Payment) | | -5,762,846.39 | Accelerated vesting of share-based payments | | Less: Income Tax Impact | 2,035,971.51 | 6,608,605.69 | | | Impact on Minority Interests (After Tax) | | 1,493.53 | | | Total | 11,537,171.89 | 32,267,915.45 | | - The company classifies government subsidies for VAT refunds (accumulated RMB 39,356,332.97 as of the end of the current period) as recurring gains and losses[8] Analysis of Financial Indicator Changes Net profit attributable to shareholders, non-recurring net profit, net cash flow from operating activities, and basic earnings per share significantly decreased due to increased R&D investment and optimized sales expenses Major Financial Indicator Changes and Reasons | Item Name | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company_Current Period | -1,066.21 | The company continuously increased R&D investment, leading to a higher increase in R&D expenses. Simultaneously, the sales and channel system construction became more complete, resulting in lower selling expenses, which consequently impacted the company's net profit attributable to shareholders, net cash flow from operating activities, and earnings per share | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses_Current Period | N/A | Same as above | | Net Cash Flow from Operating Activities_Current Period | N/A | Same as above | | Net Cash Flow from Operating Activities_Year-to-Date | N/A | Same as above | | Basic Earnings Per Share_Current Period | -1,091.54 | Same as above | | Total R&D Investment_Current Period | 37.97 | Same as above | Shareholder Information This section details the total number of common shareholders, the top ten shareholders' equity structure, and explanations of related party relationships and concerted actions Total Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 8,689 common shareholders, with the top three holding restricted shares - As of the end of the reporting period, the total number of common shareholders was 8,689[11] Top 10 Shareholders' Holdings as of the End of the Reporting Period | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding Percentage (%) | Number of Restricted Shares Held | Pledged, Marked, or Frozen Status | | :--- | :--- | :--- | :--- | :--- | :--- | | AsiaInfo Xinyuan (Nanjing) Enterprise Management Co., Ltd. | Domestic Non-state-owned Legal Person | 80,948,488 | 20.24 | 80,948,488 | None | | Nanjing AsiaInfo Rongxin Enterprise Management Center (Limited Partnership) | Other | 62,013,649 | 15.50 | 62,013,649 | None | | Tianjin AsiaInfo Xinhe Economic Information Consulting Co., Ltd. | Domestic Non-state-owned Legal Person | 30,656,621 | 7.66 | 30,656,621 | None | | Advanced Manufacturing Industry Investment Fund (Limited Partnership) | Other | 19,328,859 | 4.83 | 0 | None | | AsiaInfo Security Technology Co., Ltd. Repurchase Special Securities Account | Other | 13,490,585 | 3.37 | 0 | None | | Nanjing Anrong Enterprise Management Partnership (Limited Partnership) | Other | 11,259,494 | 2.81 | 0 | None | | Beijing AsiaInfo Rongchuang Consulting Center (Limited Partnership) | Other | 11,073,117 | 2.77 | 11,073,117 | None | | Guangzhou AsiaInfo Xinan Investment Center (Limited Partnership) | Other | 10,301,138 | 2.58 | 0 | None | | Guangzhou AsiaInfo Mingan Investment Center (Limited Partnership) | Other | 10,159,154 | 2.54 | 0 | None | | China Internet Investment Fund Management Co., Ltd. - China Internet Investment Fund (Limited Partnership) | Other | 10,147,655 | 2.54 | 0 | None | Explanation of Shareholder Related Party Relationships and Concerted Actions Controlling shareholder AsiaInfo Xinyuan and its concerted parties are controlled by Mr. Tian Suining, while some partnerships are controlled by a company in which the company's chairman, Mr. He Zheng, holds a 60% stake - Controlling shareholder AsiaInfo Xinyuan (Nanjing) Enterprise Management Co., Ltd. and its concerted parties (Nanjing AsiaInfo Rongxin, Tianjin AsiaInfo Xinhe, Beijing AsiaInfo Rongchuang) are all controlled by the actual controller, Mr. Tian Suining[14] - The general partners of partnerships such as Nanjing Anrong, Nanjing Anchen, and Guangzhou AsiaInfo Mingan are all controlled by a company in which the company's chairman, Mr. He Zheng, holds a 60% stake[14] - As of the end of the reporting period, Nanjing Anchen Enterprise Management Partnership (Limited Partnership) lent 200,000 shares through securities relending[14] Quarterly Financial Statements This section presents the consolidated balance sheet, income statement, and cash flow statement, highlighting significant changes in assets, liabilities, equity, revenue, expenses, and cash flows for the reporting period Consolidated Balance Sheet As of September 30, 2023, the company's total assets were RMB 3.02 billion, a 17.97% decrease from the end of the previous year Major Consolidated Balance Sheet Item Changes (September 30, 2023 vs December 31, 2022) | Item | September 30, 2023 (RMB) | December 31, 2022 (RMB) | % Change | | :--- | :--- | :--- | :--- | | Assets | | | | | Cash and Cash Equivalents | 473,022,746.91 | 1,997,447,648.46 | -76.31 | | Trading Financial Assets | 559,304,322.22 | 0 | Newly added | | Accounts Receivable | 768,506,551.80 | 476,108,743.31 | 61.41 | | Inventories | 421,470,451.96 | 314,257,252.31 | 34.12 | | Contract Assets | 138,988,220.78 | 304,483,670.05 | -54.35 | | Total Current Assets | 2,556,271,137.75 | 3,240,442,203.70 | -21.11 | | Total Non-current Assets | 463,806,629.08 | 441,088,763.25 | 5.15 | | Total Assets | 3,020,077,766.83 | 3,681,530,966.95 | -17.97 | | Liabilities | | | | | Notes Payable | 10,777,104.28 | 43,400,000.00 | -75.12 | | Contract Liabilities | 265,808,198.18 | 287,283,267.94 | -7.47 | | Employee Benefits Payable | 117,154,277.11 | 213,076,848.50 | -45.00 | | Total Current Liabilities | 729,706,953.13 | 916,660,608.73 | -20.40 | | Total Liabilities | 834,066,996.49 | 1,034,177,117.29 | -19.35 | | Owners' Equity | | | | | Total Owners' Equity Attributable to Parent Company | 2,191,051,608.33 | 2,646,021,699.68 | -17.19 | | Total Owners' Equity | 2,186,010,770.34 | 2,647,353,849.66 | -17.43 | Consolidated Income Statement In the first three quarters of 2023, the company's total operating revenue decreased by 3.59% year-on-year, while total operating costs increased, leading to expanded net losses Major Consolidated Income Statement Item Changes (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (RMB) | First Three Quarters 2022 (RMB) | % Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 991,856,235.62 | 1,028,755,480.48 | -3.59 | | Total Operating Costs | 1,276,828,292.74 | 1,254,005,812.51 | 1.82 | | Of which: Operating Costs | 476,043,396.59 | 522,089,886.74 | -8.82 | | Selling Expenses | 350,877,223.43 | 361,885,055.78 | -3.04 | | Administrative Expenses | 123,931,828.65 | 115,563,198.12 | 7.24 | | R&D Expenses | 317,871,390.30 | 246,898,121.18 | 28.75 | | Operating Profit (Loss indicated by "-") | -214,583,050.94 | -174,038,957.77 | 23.30 (Loss expanded) | | Total Profit (Total Loss indicated by "-") | -214,829,678.89 | -174,115,370.39 | 23.38 (Loss expanded) | | Net Profit (Net Loss indicated by "-") | -215,270,386.87 | -164,955,273.45 | 30.50 (Loss expanded) | | Net Profit Attributable to Parent Company Shareholders | -211,225,568.24 | -166,475,934.64 | 26.88 (Loss expanded) | | Basic Earnings Per Share (RMB/share) | -0.5341 | -0.4256 | 25.49 (Loss expanded) | Consolidated Cash Flow Statement In the first three quarters of 2023, net cash flow from operating activities was RMB -609 million, with investing outflows narrowing and financing activities shifting from net inflow to net outflow Major Consolidated Cash Flow Statement Item Changes (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (RMB) | First Three Quarters 2022 (RMB) | % Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -609,182,415.35 | -403,312,691.82 | 51.07 (Net outflow expanded) | | Net Cash Flow from Investing Activities | -583,170,089.90 | -1,337,202,408.23 | -56.40 (Net outflow narrowed) | | Net Cash Flow from Financing Activities | -332,204,489.29 | 1,040,971,104.94 | -131.91 (Changed from net inflow to net outflow) | | Net Increase in Cash and Cash Equivalents | -1,524,065,941.15 | -698,675,712.67 | 118.14 (Net decrease expanded) | | Cash and Cash Equivalents at Period-End | 467,842,743.13 | 558,839,773.33 | -16.30 | - In operating cash outflows, cash paid for goods and services significantly increased year-on-year, and cash paid to and on behalf of employees also grew[26] - In investing activities, cash received from and paid for investments both significantly decreased, leading to a narrowed net cash outflow from investing activities[26][27] - Cash inflows from financing activities primarily consisted of RMB 28 million received for other financing-related activities, compared to RMB 1.147 billion in capital contributions in the prior year; payments for other financing-related activities significantly increased year-on-year[27]