中洲控股(000042) - 2023 Q3 - 季度财报

Report Cover and Disclaimer This section includes the report cover, disclaimers on content accuracy, and the unaudited status of the quarterly financial report Important Content Notice The board, supervisory board, and senior management affirm the quarterly report's truthfulness and completeness, with financial information guaranteed by key executives - The board of directors, supervisory board, and senior management guarantee the quarterly report's truthfulness, accuracy, and completeness, free from false records, misleading statements, or major omissions, assuming individual and joint legal responsibility[3] - The company's head, chief accountant, and head of the accounting department declare that the financial information in the quarterly report is true, accurate, and complete[3] Audit Status This quarterly report has not been audited - The company's 2023 third-quarter report is unaudited[4][26] I. Key Financial Data This section provides an overview of the company's key financial data, non-recurring items, and explanations for significant changes (I) Key Accounting Data and Financial Indicators The company's key financial indicators for Q3 2023 and YTD showed significant year-on-year declines in revenue and net profit attributable to shareholders, but operating cash flow net increased substantially; 2022 data was retrospectively adjusted due to new accounting standards adoption 2023年第三季度及年初至报告期末主要财务指标 | Indicator | Current Period (Q3 2023) | YoY Change (Q3) | YTD End of Reporting Period (YTD 2023) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 701,498,718.13 | -49.35% | 4,347,305,070.97 | -28.27% | | Net Profit Attributable to Listed Company Shareholders (Yuan) | -86,364,693.22 | -382.10% | -106,064,438.56 | -136.69% | | Net Profit Attributable to Listed Company Shareholders Excluding Non-Recurring Gains and Losses (Yuan) | -79,696,066.34 | -382.31% | -102,464,763.48 | -138.95% | | Net Cash Flow from Operating Activities (Yuan) | — | — | 978,849,113.09 | 101.97% | | Basic Earnings Per Share (Yuan/share) | -0.1299 | -382.39% | -0.1595 | -136.68% | | Weighted Average Return on Net Assets | -1.15% | -1.52% | -1.39% | -4.93% | 2023年报告期末资产负债指标 | Indicator | End of Current Period (2023.09.30) | Change from Prior Year-End | | :--- | :--- | :--- | | Total Assets (Yuan) | 35,005,109,212.99 | -4.59% | | Owner's Equity Attributable to Listed Company Shareholders (Yuan) | 7,491,419,162.46 | -7.57% | - The company adopted 'Interpretation No. 16 of Accounting Standards for Business Enterprises' from January 1, 2023, and retrospectively adjusted comparative period data for 2022[5] (II) Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses were negative, primarily influenced by non-operating income/expenses and income tax effects 非经常性损益项目和金额 | Item | Amount for Current Period (Yuan) | Amount YTD End of Reporting Period (Yuan) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 690,520.79 | 1,950,193.19 | | Government Grants Recognized in Current Profit/Loss | 294,207.19 | 1,114,457.97 | | Gains/Losses from Entrusted Investments or Asset Management | 481,511.31 | 1,253,679.84 | | Custody Fee Income from Entrusted Operations | 1,905,010.22 | 8,018,234.06 | | Other Non-Operating Income and Expenses Apart from the Above | -7,790,699.75 | -11,364,233.32 | | Total | -6,668,626.88 | -3,599,675.08 | - Other profit and loss items meeting the definition of non-recurring gains and losses primarily include value-added tax additional deduction benefits[7] (III) Changes and Reasons for Key Accounting Data and Financial Indicators This section details the reasons for significant changes in balance sheet, income statement, and cash flow statement items, reflecting the company's operations in financing, project development, sales, and cost control 1. Balance Sheet Items At the end of the reporting period, many balance sheet items changed, mainly due to loan repayments, increased property fees, land payments transferred to inventory, and acquisition of minority interests in subsidiaries - Cash and bank balances decreased by 46.24% from the end of the previous year, primarily due to repayment of financing principal and interest during the period[9] - Prepayments decreased by 61.45% from the end of the previous year, mainly because land pre-payments for the Dongguan Dalingshan project were transferred to inventory upon obtaining land use rights[9] - Non-current liabilities due within one year decreased by 34.23% from the end of the previous year, primarily due to repayment of project financing during the period[10] - Capital reserves decreased by 20.40% from the beginning of the year, primarily due to the acquisition of minority interests in subsidiaries during the period[10] 2. Income Statement Items During the reporting period, income statement items changed significantly, with sales expenses and non-operating expenses increasing substantially, investment income growing significantly, and income tax expenses decreasing sharply due to reduced profit and premium acquisition impacts - Selling expenses increased by 42.85% year-on-year, mainly due to increased sales commission rates and expenditures for real estate projects completed and settled during the period[11] - Investment income increased by 485.51% year-on-year, primarily due to increased investment income from associates and joint ventures accounted for using the equity method[11] - Credit impairment losses increased significantly by 910.66% year-on-year (meaning losses substantially increased), primarily due to increased provision for credit impairment losses on receivables[11] - Income tax expenses decreased by 68.97% year-on-year, mainly due to reduced income tax impact from premium acquisition projects and decreased pre-tax profit[11] 3. Cash Flow Statement Items During the reporting period, net cash flow from operating activities significantly increased due to reduced construction payments, while net cash flow from investing activities decreased, and net cash flow from financing activities remained negative - Net cash flow from operating activities for Jan-Sep 2023 was 978.85 million Yuan, a 101.97% year-on-year increase, primarily due to a significant reduction in construction payments during the period[12] - Net cash flow from investing activities for Jan-Sep 2023 was 25.26 million Yuan, a 44.82% year-on-year decrease, primarily due to increased net cash paid for subsidiary disposals compared to the previous year[12] - Net cash flow from financing activities for Jan-Sep 2023 was -1.44 billion Yuan, a 1.87% year-on-year decrease[12] II. Shareholder Information This section details the company's shareholder structure, including common and preferred shareholder numbers and top ten holdings (I) Total Number of Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 16,703 common shareholders; among the top ten, Shenzhen Zhongzhou Group Co., Ltd. is the controlling shareholder with 52.63% equity, with some shares pledged and frozen, and some shareholders have related party relationships or act in concert - As of the end of the reporting period, the total number of common shareholders was 16,703[14] 前10名股东持股情况 | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares (shares) | Pledge, Mark, or Freeze Status | Amount (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | 深圳中洲集团有限公司 | Domestic Non-State-Owned Legal Person | 52.63% | 349,874,513 | Pledged | 212,000,000 | | | | | | Frozen | 72,369,100 | | 深圳市资本运营集团有限公司 | State-Owned Legal Person | 5.20% | 34,554,086 | None | 0 | | 南昌联泰投资有限公司 | Domestic Non-State-Owned Legal Person | 4.91% | 32,640,652 | Pledged | 32,500,000 | - Shenzhen Zhongzhou Group Co., Ltd. and Shenzhen Qianhai Junzhi Investment Co., Ltd. are parties acting in concert; Nanchang Liantai Investment Co., Ltd. and Shenzhen Liantai Real Estate Development Co., Ltd. are subsidiaries of Guangdong Liantai Group Co., Ltd[15] (II) Total Number of Company Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[16] III. Other Significant Matters This section confirms the absence of any other significant matters during the reporting period Other Significant Matters The company had no other significant matters during the reporting period - The company had no other significant matters[16] IV. Quarterly Financial Statements This section presents the company's quarterly financial statements, new accounting standard adjustments, and audit status (I) Financial Statements This section includes the company's consolidated balance sheet as of September 30, 2023, and consolidated income and cash flow statements from year-beginning to the end of the reporting period, comprehensively presenting its financial position, operating results, and cash flows 1. Consolidated Balance Sheet As of September 30, 2023, the company's total assets were 35.01 billion Yuan, a 4.59% decrease from the beginning of the year, with total liabilities at 27.44 billion Yuan and total owner's equity at 7.56 billion Yuan 合并资产负债表主要数据 | Item | September 30, 2023 (Yuan) | January 1, 2023 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 35,005,109,212.99 | 36,687,274,572.08 | -4.59% | | Total Liabilities (Yuan) | 27,444,403,446.70 | 28,471,026,878.88 | -3.61% | | Total Owner's Equity (Yuan) | 7,560,705,766.29 | 8,216,247,693.20 | -7.98% | | Cash and Bank Balances | 516,265,297.72 | 960,238,389.32 | -46.24% | | Inventories | 25,502,605,541.84 | 26,085,162,569.55 | -2.23% | | Non-Current Liabilities Due Within One Year | 2,418,268,125.83 | 3,676,873,162.15 | -34.23% | | Long-Term Borrowings | 9,913,017,997.20 | 9,404,524,469.98 | +5.41% | 2. Consolidated Income Statement from Year-Beginning to End of Reporting Period From year-beginning to the end of the reporting period in 2023, the company's total operating revenue was 4.35 billion Yuan, a 28.27% year-on-year decrease, with net profit at -148.12 million Yuan and net profit attributable to parent company shareholders at -106.06 million Yuan, turning from profit to loss year-on-year 合并利润表主要数据 (年初至报告期末) | Item | Current Period Amount (YTD 2023) (Yuan) | Prior Period Amount (YTD 2022) (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,347,305,070.97 | 6,060,490,579.99 | -28.27% | | Total Operating Costs | 4,367,359,352.65 | 5,426,815,531.29 | -19.52% | | Total Profit | -33,119,380.02 | 631,386,285.52 | -105.24% | | Net Profit | -148,119,153.25 | 260,804,835.03 | -156.80% | | Net Profit Attributable to Parent Company Shareholders | -106,064,438.56 | 289,058,309.70 | -136.69% | | Basic Earnings Per Share | -0.1595 | 0.4348 | -136.68% | - Investment income significantly increased by 485.51% year-on-year, primarily due to increased investment income from associates and joint ventures[21] - Credit impairment losses significantly increased by 910.66% year-on-year, reflecting increased provision for impairment losses on receivables[21] 3. Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period From year-beginning to the end of the reporting period in 2023, net cash flow from operating activities significantly increased by 101.97% to 978.85 million Yuan, mainly due to reduced construction payments; net cash flow from investing activities was 25.26 million Yuan, down 44.82%; and net cash flow from financing activities was -1.44 billion Yuan 合并现金流量表主要数据 (年初至报告期末) | Item | Current Period Amount (YTD 2023) (Yuan) | Prior Period Amount (YTD 2022) (Yuan) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 978,849,113.09 | 484,649,819.38 | +101.97% | | Net Cash Flow from Investing Activities | 25,258,594.63 | 45,776,847.10 | -44.82% | | Net Cash Flow from Financing Activities | -1,442,668,209.67 | -1,416,137,106.08 | -1.87% | | Net Increase in Cash and Cash Equivalents | -438,505,144.47 | -885,511,982.60 | +50.48% (减少负值) | - Total cash inflow from operating activities was 3.64 billion Yuan, and total outflow was 2.66 billion Yuan, with net inflow primarily benefiting from a significant reduction in cash paid for goods and services[23] - Cash received from borrowings was 3.38 billion Yuan, and cash paid for debt repayment was 4.14 billion Yuan, indicating ongoing debt management by the company[24] (II) Adjustments to Financial Statement Items at the Beginning of the First Execution Year (2023) Due to New Accounting Standards The company adopted 'Interpretation No. 16 of Accounting Standards for Business Enterprises' from January 1, 2023, leading to increased deferred income tax assets and retained earnings, and decreased deferred income tax liabilities on the 2022 year-end balance sheet, while income tax expenses increased and net profit attributable to parent company shareholders decreased on the 2022 Jan-Sep income statement - According to the Ministry of Finance's 'Interpretation No. 16 of Accounting Standards for Business Enterprises', the company adopted new accounting standards from January 1, 2023[25] - On the December 31, 2022 balance sheet, deferred income tax assets increased by 170,254.08 Yuan, deferred income tax liabilities decreased by 1,312.09 Yuan, and retained earnings increased by 171,566.17 Yuan[25] - For the Jan-Sep 2022 income statement, income tax expenses increased by 103,996.98 Yuan, and net profit attributable to parent company shareholders decreased by 103,996.98 Yuan[25] (III) Audit Report This quarterly report is unaudited - This quarterly report is unaudited[26]