格科微(688728) - 2022 Q1 - 季度财报

Important Notice The company's board and senior management affirm the truthfulness, accuracy, and completeness of the quarterly report, which includes unaudited financial statements - The company's board of directors and management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[3] - The financial statements for this quarter are unaudited[3] I. Key Financial Data This section summarizes the company's Q1 2022 financial performance, noting decreased revenue and net profit, improved gross margin, increased overseas sales, and details non-recurring items (I) Key Accounting Data and Financial Indicators Q1 2022 saw operating revenue decline by 10.46% to RMB 1.735 billion and net profit by 17.36% to RMB 241 million, impacted by smartphone market and exchange losses, despite a 2.45% gross margin increase and 65% overseas sales Key Accounting Data and Financial Indicators for Q1 2022 | Item | Current Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 1,734,866,190.00 | -10.46 | | Net Profit Attributable to Shareholders of Listed Company | 241,477,602.00 | -17.36 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 236,931,106.00 | -16.17 | | Net Cash Flow from Operating Activities | -9,888,766.00 | -102.64 | | Basic Earnings Per Share (RMB/share) | 0.10 | -23.08 | | Diluted Earnings Per Share (RMB/share) | 0.09 | -30.77 | | Weighted Average Return on Net Assets (%) | 3.15 | Decrease 7.03 percentage points | | Total R&D Investment | 103,690,316.00 | -27.88 | | Proportion of R&D Investment to Operating Revenue (%) | 5.98 | Decrease 1.44 percentage points | | Total Assets (End of Current Period) | 14,731,694,999.00 | 10.73 | | Owners' Equity Attributable to Shareholders of Listed Company (End of Current Period) | 7,800,924,777.00 | 3.33 | - The decrease in operating revenue was primarily due to declining domestic smartphone market shipments and the impact of the pandemic[5] - Gross profit margin was 33.73%, an increase of 2.45% year-over-year, mainly benefiting from the company's high market share in niche segments[6] - Strong overseas customer demand led to an increase in export sales proportion from 54% in 2021 to 65%[6] - The change in net profit was mainly due to a significant increase in financial expenses, with exchange losses exceeding RMB 40 million due to currency fluctuations[6] (II) Non-Recurring Gains and Losses Items and Amounts This section lists the detailed items and amounts of non-recurring gains and losses for Q1 2022, totaling RMB 4.55 million, primarily including government subsidies and capital occupation fees, net of income tax impact Non-Recurring Gains and Losses Items and Amounts for Q1 2022 | Item | Current Period Amount (RMB) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -5,252.00 | | Government subsidies recognized in current profit or loss | 757,110.00 | | Capital occupation fees received from non-financial enterprises recognized in current profit or loss | 4,807,658.00 | | Other non-operating income and expenses apart from the above | -15,113.00 | | Less: Income tax impact | 997,907.00 | | Total | 4,546,496.00 | (III) Changes and Reasons for Key Accounting Data and Financial Indicators This section explains the significant changes in Q1 2022 net cash flow from operating activities and diluted earnings per share. Net cash flow from operating activities decreased by 102.64% due to reduced revenue, collections, and increased taxes; diluted EPS decreased by 30.77% due to lower net profit and increased shares post-listing Changes and Reasons for Key Accounting Data and Financial Indicators | Item Name | Change Ratio (%) | Primary Reason | | :--- | :--- | :--- | | Net cash flow from operating activities | -102.64 | Primarily due to decreased current period revenue, reduced collections, and increased tax payments | | Diluted earnings per share | -30.77 | Primarily due to decreased current period net profit and increased number of shares after listing | II. Shareholder Information This section discloses the total number of common shareholders, the top ten shareholders' holdings (including restricted and unrestricted shares), details on related party relationships and concerted actions among major shareholders, and participation in margin trading and securities lending (I) Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 38,132 common shareholders. Among the top ten, Uni-sky Holding Limited was the largest shareholder with a 42.02% stake, all of which were restricted shares, and the top five shareholders were all foreign legal entities - As of the end of the reporting period, the total number of common shareholders was 38,132[12] Top Ten Shareholders' Holdings (Restricted Shares) | Shareholder Name | Shareholder Nature | Number of Shares Held (Shares) | Shareholding Ratio (%) | Number of Restricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | | Uni－sky Holding Limited | Foreign Legal Entity | 1,050,000,000 | 42.02 | 1,050,000,000 | | Cosmos L.P. | Foreign Legal Entity | 310,599,100 | 12.43 | 310,599,100 | | Keenway International Limited | Foreign Legal Entity | 175,000,000 | 7.00 | 175,000,000 | | Hopefield Holding Limited | Foreign Legal Entity | 175,000,000 | 7.00 | 175,000,000 | | Pacven Walden Ventures V, L.P. | Foreign Legal Entity | 118,709,550 | 4.75 | 118,709,550 | Top 10 Unrestricted Shareholders' Holdings This section lists the top ten shareholders holding unrestricted tradable shares, primarily including various mutual funds managed by fund management companies and some individual investors Top 10 Unrestricted Shareholders' Holdings | Shareholder Name | Number of Unrestricted Tradable Shares Held (Shares) | Type of Share | Number (Shares) | | :--- | :--- | :--- | :--- | | Bank of Communications Co., Ltd. - Wanjia Industry Selection Mixed Securities Investment Fund (LOF) | 16,209,500 | RMB Common Stock | 16,209,500 | | Industrial and Commercial Bank of China Limited - Wanjia Independent Innovation Mixed Securities Investment Fund | 6,000,000 | RMB Common Stock | 6,000,000 | | China Merchants Bank Co., Ltd. - Wanjia Economic New Momentum Mixed Securities Investment Fund | 3,000,000 | RMB Common Stock | 3,000,000 | | Haitong Securities Co., Ltd. | 1,574,912 | RMB Common Stock | 1,574,912 | | CITIC Securities Co., Ltd. | 1,555,329 | RMB Common Stock | 1,555,329 | Explanation of Related Party Relationships or Concerted Actions Among Above Shareholders This section details related party relationships and concerted actions among the top ten shareholders, including Cosmos L.P. being controlled by Uni-sky Holding Limited, and connections between Shanghai Chengyuan Technology Partnership, CEC Walden (Chengdu) Equity Investment Center, and Pacven Walden Ventures V, L.P. through common managing partner LIP-BU TAN. The actual controller, Mr. Zhao Lixin, and his family members also have affiliations with some shareholders - Cosmos L.P. is controlled by Uni-sky Holding Limited and acts in concert[15] - Shanghai Chengyuan Technology Partnership and CEC Walden (Chengdu) Equity Investment Center are related through Huaxin Original and LIP-BU TAN[15] - The actual controller of Uni-sky Holding Limited and Cosmos L.P. is Mr. Zhao Lixin[15] - Mr. Fu Lei, a company director, and his wife, Ms. Zhaohui Wang, indirectly hold shares in some investment centers[15] Explanation of Top 10 Shareholders and Top 10 Unrestricted Shareholders' Participation in Margin Trading, Securities Lending, and Refinancing Business (If Any) This section discloses the participation of some unrestricted shareholders in margin trading and securities lending through investor credit accounts, including Guangdong Lianhua Private Securities Investment Fund Management Co., Ltd., Wu Chunxiang, and Zeng Haichun. The company is unaware of these shareholders' involvement in refinancing business - Guangdong Lianhua Private Securities Investment Fund Management Co., Ltd. - Lianhua Compound Growth Private Securities Investment Fund holds 1,100,380 shares through a credit securities account[15] - Wu Chunxiang holds 13,093 shares through a credit securities account[15] - Zeng Haichun holds 650,000 shares through a credit securities account[15] - The company is unaware of the aforementioned shareholders' participation in refinancing business[15] III. Other Reminders This section states that, apart from the disclosed information, there are no other significant operating matters requiring investors' special attention during the reporting period - No other significant operating information for the reporting period requires investors' attention[16] IV. Quarterly Financial Statements This section provides the company's unaudited consolidated financial statements for Q1 2022, including the consolidated balance sheet, income statement, and cash flow statement, comprehensively presenting the company's financial position, operating results, and cash flow (I) Type of Audit Opinion This section explicitly states that the company's Q1 2022 financial statements are unaudited - The financial statements are unaudited[16] (II) Financial Statements This section details Gekewei Co., Ltd.'s Q1 2022 consolidated balance sheet, income statement, and cash flow statement, providing unaudited financial data reflecting the company's asset-liability structure, profitability, and cash flow during the period Consolidated Balance Sheet As of March 31, 2022, total assets reached RMB 14.732 billion, a 10.73% increase from year-end, driven by a 140.18% surge in construction in progress and a 29.19% rise in total non-current assets. Total liabilities grew 20.45% to RMB 6.931 billion, mainly due to increased short-term and long-term borrowings Key Consolidated Balance Sheet Data (As of March 31, 2022) | Item | March 31, 2022 (RMB) | December 31, 2021 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 4,163,269,596.00 | 4,510,618,513.00 | -7.70 | | Accounts Receivable | 474,529,636.00 | 317,391,703.00 | 49.50 | | Inventories | 3,693,045,728.00 | 3,484,291,883.00 | 5.99 | | Total Current Assets | 9,066,752,324.00 | 8,918,744,883.00 | 1.66 | | Construction in Progress | 2,989,084,177.00 | 1,244,547,958.00 | 140.18 | | Total Non-Current Assets | 5,664,942,675.00 | 4,384,900,820.00 | 29.19 | | Total Assets | 14,731,694,999.00 | 13,303,645,703.00 | 10.73 | | Short-term Borrowings | 4,204,798,626.00 | 3,252,503,007.00 | 29.28 | | Total Current Liabilities | 6,023,597,006.00 | 4,982,577,334.00 | 20.89 | | Long-term Borrowings | 492,104,233.00 | 352,104,233.00 | 39.77 | | Total Liabilities | 6,930,770,222.00 | 5,753,941,631.00 | 20.45 | | Total Owners' Equity Attributable to Parent Company | 7,800,924,777.00 | 7,549,704,072.00 | 3.33 | Consolidated Income Statement In Q1 2022, total operating revenue was RMB 1.735 billion, down 10.46% YoY; net profit attributable to parent company shareholders was RMB 241 million, down 17.36%. Financial expenses surged 1863.08% to RMB 74.53 million, mainly due to exchange losses, significantly impacting net profit Key Consolidated Income Statement Data (Q1 2022) | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,734,866,190.00 | 1,937,566,596.00 | -10.46 | | Operating Costs | 1,149,755,181.00 | 1,331,646,738.00 | -13.66 | | Selling Expenses | 31,212,792.00 | 30,441,001.00 | 2.54 | | Administrative Expenses | 44,207,047.00 | 21,251,203.00 | 108.02 | | R&D Expenses | 103,690,316.00 | 143,782,050.00 | -27.88 | | Financial Expenses | 74,532,895.00 | 3,795,502.00 | 1863.08 | | Operating Profit | 292,173,694.00 | 390,916,590.00 | -25.30 | | Total Profit | 292,156,928.00 | 390,034,121.00 | -25.10 | | Income Tax Expense | 50,679,326.00 | 97,836,891.00 | -48.20 | | Net Profit | 241,477,602.00 | 292,197,230.00 | -17.36 | | Net Profit Attributable to Parent Company Shareholders | 241,477,602.00 | 292,197,230.00 | -17.36 | | Basic Earnings Per Share (RMB/share) | 0.10 | 0.13 | -23.08 | | Diluted Earnings Per Share (RMB/share) | 0.09 | 0.13 | -30.77 | Consolidated Cash Flow Statement In Q1 2022, net cash flow from operating activities was -RMB 9.89 million, down 102.64% YoY due to reduced collections and increased taxes. Net cash flow from investing activities was -RMB 1.704 billion, down 2333.6%, reflecting significant investments. Net cash flow from financing activities was RMB 1.046 billion, up 284.77%, driven by increased borrowings Key Consolidated Cash Flow Statement Data (Q1 2022) | Item | Q1 2022 (RMB) | Q1 2021 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -9,888,766.00 | 373,916,672.00 | -102.64 | | Net Cash Flow from Investing Activities | -1,704,433,373.00 | -70,033,839.00 | -2333.60 | | Net Cash Flow from Financing Activities | 1,046,237,093.00 | 271,912,662.00 | 284.77 | | Net Increase in Cash and Cash Equivalents | -670,038,144.00 | 579,528,155.00 | -215.69 | | Cash and Cash Equivalents at End of Period | 2,915,902,893.00 | 1,953,243,825.00 | 49.29 | - The decrease in net cash flow from operating activities was primarily due to reduced current period revenue, lower collections, and increased tax payments[11]