Tongyuan Environment(SH:688679)2022-10-28 16:00Main Financial Data Key Accounting Data and Financial Indicators In the first three quarters of 2022, the company's operating revenue and net profit attributable to shareholders both achieved significant growth, increasing by 31.63% and 20.97% year-on-year, respectively, with Q3 alone showing stronger growth in revenue and net profit. Financial Performance (Jan-Sep & Q3) | Item | Year-to-Date (Jan-Sep) (Yuan) | YoY Growth (%) | Current Period (Q3) (Yuan) | YoY Growth (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 854,649,782.57 | 31.63 | 328,720,676.10 | 24.64 | | Net Profit Attributable to Shareholders of Listed Company | 35,802,554.69 | 20.97 | 8,276,757.65 | 45.10 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 31,890,755.48 | 56.29 | 8,101,919.71 | 113.91 | | Basic Earnings Per Share (Yuan/share) | 0.27 | 22.73 | 0.06 | 50.00 | | Total R&D Investment | 31,269,623.89 | 32.93 | 10,559,769.46 | 14.60 | Financial Position (Period End vs. Prior Year End) | Item | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 2,184,031,622.22 | 1,949,105,016.25 | 12.05 | | Owners' Equity Attributable to Shareholders of Listed Company | 1,097,204,799.06 | 1,077,928,480.38 | 1.79 | Non-recurring Gains and Losses Items and Amounts In the first three quarters of 2022, the company's total non-recurring gains and losses amounted to 3.91 million Yuan, primarily comprising 4.90 million Yuan in government subsidies, partially offset by other non-operating income and expenses. Non-recurring Gains and Losses | Item | Amount for Current Period (Yuan) | Amount Year-to-Date (Yuan) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -5,825.77 | -6,431.10 | | Government Subsidies Included in Current Period Profit/Loss | 458,050.47 | 4,904,940.44 | | Fair Value Change Gains/Losses and Investment Income | 48,392.86 | 160,701.25 | | Other Non-operating Income and Expenses | -312,819.95 | -827,912.94 | | Total | 174,837.94 | 3,911,799.21 | Analysis of Changes in Key Financial Indicators and Reasons The company attributes revenue and net profit growth to expanding business scale, with significant increases in non-recurring net profit (113.91% for the current period, 56.29% year-to-date) primarily due to a decrease in non-operating gains/losses, and increased R&D investment due to higher R&D project expenditures. Key Financial Indicator Changes and Reasons | Item Name | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue_Year-to-Date | 31.63 | Primarily due to the company's expanded business scale and increased operating revenue in the current period | | Net Profit Attributable to Shareholders of Listed Company_Current Period | 45.10 | Primarily due to the company's expanded business scale and increased operating revenue in the current period | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses)_Current Period | 113.91 | Primarily due to a decrease in non-operating gains/losses in the current period | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses)_Year-to-Date | 56.29 | Primarily due to a decrease in non-operating gains/losses in the current period | | Total R&D Investment_Year-to-Date | 32.93 | Primarily due to increased investment in R&D projects in the current period | Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 4,795 common shareholders, with the top two shareholders, Yang Ming and Anhui Yuantong Equity Investment Partnership (Limited Partnership), collectively holding over 54%, indicating a relatively concentrated equity structure, where Yang Ming is the actual controller of Anhui Yuantong. - As of the end of the reporting period, the company had 4,795 common shareholders9 Top Shareholders | Shareholder Name | Number of Shares Held (shares) | Shareholding Ratio (%) | | :--- | :--- | :--- | | Yang Ming | 59,385,600 | 45.10 | | Anhui Yuantong Equity Investment Partnership (Limited Partnership) | 11,959,200 | 9.08 | | Anhui Zhong'an Overseas Technology Introduction Investment Partnership (Limited Partnership) | 4,361,478 | 3.31 | | Anhui Gaoxin Jintong Anyi Phase II Venture Capital Fund (Limited Partnership) | 4,000,000 | 3.04 | | Wuhu Fuhai Haoyan Venture Capital Fund (Limited Partnership) | 3,780,000 | 2.87 | - Shareholder Relationship Explanation: Yang Ming is the actual controller of Anhui Yuantong Equity Investment Partnership (Limited Partnership); Hefei Guoyao Weiye Venture Capital Partnership (Limited Partnership) and Anhui Guoyao Venture Capital Co., Ltd. are private equity investment funds managed by the same fund manager10 Other Reminders Other Reminders The company has no other significant operating information requiring investor attention during the reporting period. - The company has no other significant operating information requiring investor attention during the reporting period11 Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited. - The company's Q3 2022 financial statements are unaudited311 Financial Statements This section provides the company's consolidated balance sheet as of September 30, 2022, and the consolidated income statement and consolidated cash flow statement for January-September 2022. Consolidated Balance Sheet As of September 30, 2022, the company's total assets were 2.18 billion Yuan, a 12.05% increase from the end of the prior year; total liabilities were 1.08 billion Yuan, a 25.28% increase from the end of the prior year, with the asset-liability ratio rising from 44.17% to 49.38%, driven by increases in contract assets, construction in progress, notes payable, accounts payable, and long-term borrowings. | Item | Sep 30, 2022 (Yuan) | Dec 31, 2021 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,184,031,622.22 | 1,949,105,016.25 | +12.05% | | Total Current Assets | 1,387,201,479.13 | 1,272,108,404.52 | +9.05% | | Total Non-current Assets | 796,830,143.09 | 676,996,611.73 | +17.70% | | Total Liabilities | 1,078,522,587.98 | 860,877,974.01 | +25.28% | | Total Current Liabilities | 885,594,945.40 | 732,201,773.08 | +20.95% | | Total Non-current Liabilities | 192,927,642.58 | 128,676,200.93 | +49.93% | | Total Owners' Equity | 1,105,509,034.24 | 1,088,227,042.24 | +1.59% | | Total Owners' Equity Attributable to Parent Company | 1,097,204,799.06 | 1,077,928,480.38 | +1.79% | Consolidated Income Statement In the first three quarters of 2022, operating revenue reached 855 million Yuan, a 31.63% year-on-year increase; net profit attributable to parent company shareholders was 35.80 million Yuan, up 20.97% year-on-year, with operating costs increasing by 37.86% (faster than revenue growth) and R&D expenses by 32.93%. | Item | Jan-Sep 2022 (Yuan) | Jan-Sep 2021 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 854,649,782.57 | 649,294,187.37 | +31.63% | | Total Operating Costs | 813,210,690.49 | 622,308,925.57 | +30.68% | | Of which: Operating Costs | 692,625,009.39 | 502,424,270.24 | +37.86% | | R&D Expenses | 31,269,623.89 | 23,524,240.75 | +32.93% | | Operating Profit | 37,543,248.54 | 25,215,416.92 | +48.89% | | Total Profit | 39,187,901.55 | 32,285,924.28 | +21.38% | | Net Profit | 33,061,360.27 | 27,548,036.39 | +20.01% | | Net Profit Attributable to Parent Company Shareholders | 35,802,554.69 | 29,596,590.29 | +20.97% | | Basic Earnings Per Share (Yuan/share) | 0.27 | 0.22 | +22.73% | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities was 33.81 million Yuan, a significant improvement from -200.11 million Yuan in the prior year, primarily due to an 81.08% year-on-year increase in cash received from sales of goods and services; net cash outflow from investing activities was 63.92 million Yuan, and net cash inflow from financing activities was 43.55 million Yuan. | Item | Jan-Sep 2022 (Yuan) | Jan-Sep 2021 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 33,807,631.04 | -200,105,275.57 | | Cash Received from Sales of Goods and Services | 881,155,062.16 | 486,625,436.00 | | Cash Paid for Goods Purchased and Services Received | 651,191,794.24 | 489,056,262.56 | | Net Cash Flow from Investing Activities | -63,918,945.13 | -69,459,179.77 | | Net Cash Flow from Financing Activities | 43,547,116.04 | -106,063,724.08 | | Net Increase in Cash and Cash Equivalents | 13,435,801.95 | -375,628,179.42 |