奕瑞科技(688301) - 2023 Q3 - 季度财报

Financial and Operational Summary Key Financial Data The company's revenue grew strongly, but net profit declined significantly due to fair value losses on financial assets Key Financial Indicators | Indicator | Q3 2023 | YoY Change (%) | YTD Q3 2023 | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 439,667,879.60 CNY | 14.71% | 1,396,863,944.41 CNY | 26.54% | | Net Profit Attributable to Shareholders | 108,281,046.10 CNY | -53.23% | 432,916,128.82 CNY | -14.78% | | Net Profit after Non-recurring Items | 145,766,186.34 CNY | 11.59% | 491,686,510.08 CNY | 21.26% | | Net Cash Flow from Operating Activities | N/A | N/A | 126,507,397.10 CNY | -19.24% | | Basic Earnings Per Share (CNY/Share) | 1.06 | -53.48% | 4.25 | -15.00% | | Total R&D Investment | 64,487,679.15 CNY | 11.18% | 184,035,469.34 CNY | 12.61% | - The company's net profit and earnings per share for Q3 dropped sharply by over 50% YoY, primarily due to the negative impact from changes in the fair value of trading financial assets[9] Non-recurring Profit and Loss Items | Item | Q3 2023 Amount (CNY) | YTD Q3 2023 Amount (CNY) | | :--- | :--- | :--- | | Government Subsidies | 19,917,539.50 | 59,952,474.24 | | Gains/Losses from Fair Value Changes | -63,835,774.63 | -125,111,997.75 | | Total | -37,485,140.24 | -58,770,381.26 | Shareholder Information Shareholder ownership is concentrated among 3,302 holders, with related party relationships existing among top investors - As of the end of the reporting period, the company had a total of 3,302 common stock shareholders[10] Top 5 Shareholders | Shareholder Name | Shareholding (%) | Number of Shares | | :--- | :--- | :--- | | Shanghai Yiyuan Herui Investment Consulting Co, Ltd | 16.39% | 16,681,913 | | Shanghai Heyi Investment Management Co, Ltd | 10.95% | 11,143,391 | | Tianjin Sequoia Juye Equity Investment Partnership (LP) | 7.27% | 7,400,594 | | Shanghai Changze Investment Consulting Partnership (LP) | 5.98% | 6,086,956 | | Huatai-PineBridge CSI Sci-Tech Innovation 50 ETF | 4.33% | 4,411,045 | - Related party relationships exist among major shareholders: the executive partner for Shanghai Yiyuan Herui, Shanghai Changze, and Shanghai Changrui is Tieer Gu; the ultimate executive partner for Tianjin Sequoia Juye and Beijing Sequoia Xinyuan is Sequoia Capital Equity Investment Management (Tianjin) Co, Ltd[11] Quarterly Financial Statements Consolidated Balance Sheet Total assets grew to CNY 6.14 billion, driven by a surge in non-current assets, while current assets decreased Balance Sheet Summary | Item | Sep 30, 2023 (CNY) | Dec 31, 2022 (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 6,135,634,292.15 | 5,818,732,475.92 | +5.45% | | Total Current Assets | 3,882,388,337.37 | 4,528,222,815.64 | -14.26% | | Total Non-current Assets | 2,253,245,954.78 | 1,290,509,660.28 | +74.60% | | Total Liabilities | 1,994,990,775.60 | 1,915,035,384.37 | +4.18% | | Equity Attributable to Shareholders | 4,124,479,398.10 | 3,876,720,466.15 | +6.39% | - The asset structure underwent significant changes: - Cash and Cash Equivalents: Decreased by 28.3% from CNY 2.71 billion to CNY 1.94 billion - Trading Financial Assets: Decreased by 48.6% from CNY 665 million to CNY 342 million - Accounts Receivable: Increased by 78.9% from CNY 357 million to CNY 638 million - Construction in Progress: Surged by 192.2% from CNY 257 million to CNY 752 million, reflecting large-scale capital expenditures[14][15] Consolidated Income Statement Strong revenue growth was offset by significant fair value losses, causing a decline in operating and net profit Income Statement Summary | Item | YTD Q3 2023 (CNY) | YTD Q3 2022 (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,396,863,944.41 | 1,103,884,316.02 | +26.54% | | Total Operating Costs | 870,956,741.62 | 685,732,974.48 | +27.01% | | R&D Expenses | 184,035,469.34 | 163,434,194.84 | +12.61% | | Gains from Changes in Fair Value | -129,091,744.65 | 72,944,691.23 | -276.99% | | Operating Profit | 479,466,269.78 | 561,854,362.02 | -14.67% | | Net Profit Attributable to Shareholders | 432,916,128.82 | 507,972,623.11 | -14.78% | | Basic Earnings Per Share (CNY/Share) | 4.25 | 5.00 | -15.00% | - The core driver of the profit decline was the "Gains from Changes in Fair Value" item, which shifted from a CNY 72.94 million gain in the prior year period to a CNY 129 million loss this period, creating a negative impact of over CNY 200 million on operating profit[19] Consolidated Cash Flow Statement Cash flow was pressured by lower operating cash, significantly higher investment outflows, and a net outflow from financing Cash Flow Summary | Item | YTD Q3 2023 (CNY) | YTD Q3 2022 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 126,507,397.10 | 156,640,447.56 | | Net Cash Flow from Investing Activities | -736,189,466.66 | -206,507,584.34 | | Net Cash Flow from Financing Activities | -183,044,721.40 | 41,802,168.77 | | Net Increase in Cash & Cash Equivalents | -788,440,818.47 | 15,981,235.49 | - Cash outflow from investing activities expanded significantly, as "Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-term Assets" surged by 149% from CNY 365 million to CNY 909 million YoY[24] - Cash flow from financing activities turned negative, mainly due to increased cash outflows for debt repayment (CNY 101 million) and dividend/interest payments (CNY 215 million)[24]