中兵红箭(000519) - 2022 Q3 - 季度财报

Report Overview Important Notice The Board, Supervisory Board, and senior management guarantee the quarterly report's truthfulness and completeness, with financial data affirmed by key executives - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report's information disclosure, free from false records, misleading statements, or major omissions[1] - The company's person in charge, head of accounting, and head of accounting department declare that the financial information in the quarterly report is true, accurate, and complete[1] Audit Status This quarterly report has not been audited - The third-quarter report has not been audited[1] Key Financial Data Key Accounting Data and Financial Indicators Q3 revenue and net profit decreased, while year-to-date revenue remained stable, and net profit and EPS significantly increased, despite negative operating cash flow Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | This Reporting Period (Q3) | Change vs. Prior Year Period | Year-to-Date (YTD) | Change vs. Prior Year YTD | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 1,636,080,989.74 | -16.84% | 4,839,488,171.10 | -0.18% | | Net Profit Attributable to Shareholders (CNY) | 179,444,239.39 | -35.87% | 881,035,803.66 | 45.21% | | Net Profit Attributable to Shareholders (Excluding Non-recurring G&L) (CNY) | 176,307,342.85 | -33.44% | 854,893,826.58 | 49.20% | | Net Cash Flow from Operating Activities (CNY) | — | — | -1,174,520,204.79 | -425.27% | | Basic EPS (CNY/share) | 0.1289 | -35.84% | 0.6327 | 45.21% | | Weighted Average ROE | 1.84% | -1.27% | 9.32% | 2.44% | | Total Assets (CNY) | 14,274,588,986.01 | 1.74% (vs. end of prior year) | 14,274,588,986.01 | 1.74% (vs. end of prior year) | | Total Equity Attributable to Shareholders (CNY) | 9,847,014,029.94 | 9.28% (vs. end of prior year) | 9,847,014,029.94 | 9.28% (vs. end of prior year) | - As of the end of this reporting period, total assets increased by 1.74% and total equity attributable to shareholders increased by 9.28% compared to the end of the prior year[2] Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 3.14 million CNY for the quarter and 26.14 million CNY year-to-date, mainly from asset disposal, government grants, and investment income Non-recurring Gains and Losses Items and Amounts | Item | Amount for This Period (CNY) | Amount Year-to-Date (CNY) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -5,089,153.81 | 2,477,758.28 | | Government Grants Recognized in Current P&L | 3,639,922.54 | 10,586,593.04 | | Gains/Losses from Entrusted Investments or Asset Management | 3,590,861.83 | 9,216,011.26 | | Other Non-operating Income and Expenses (Excluding Above) | 2,223,616.76 | 6,947,665.67 | | Less: Income Tax Impact | 1,228,350.78 | 3,086,051.17 | | Total | 3,136,896.54 | 26,141,977.08 | - The company has not reclassified any non-recurring gains and losses items as recurring items[4] Analysis of Changes in Key Accounting Data and Financial Indicators Significant changes occurred in assets, liabilities, and income statement items, driven by factors like product delivery, increased borrowings, R&D investment, and cash flow dynamics - As of the end of this reporting period, accounts receivable increased by 146.08% from the beginning of the year, primarily due to unsettled payments for delivered products[5] - As of the end of this reporting period, short-term borrowings increased by 233.33% from the beginning of the year, mainly due to increased short-term working capital loans for some units[5] - R&D expenses increased by 34.23% in this reporting period, primarily due to intensified scientific research and increased R&D investment[5] - Net cash flow from operating activities decreased by 425.27% in this reporting period, mainly due to unsettled payments for some delivered products[5] - Net cash flow from investing activities increased by 60.41% in this reporting period, primarily due to increased recovery of wealth management funds[5] - Net cash flow from financing activities increased by 446.13% in this reporting period, primarily due to increased funds received from borrowings[5] Shareholder Information Common Shareholder Holdings As of the reporting period end, the company had 106,716 common shareholders, with the top five being state-owned legal entities and acting in concert - The total number of common shareholders at the end of the reporting period was 106,716[6] Top 10 Common Shareholder Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held | Number of Restricted Shares Held | | :--- | :--- | :--- | :--- | :--- | | Yuxi Industrial Group Co., Ltd. | State-owned Legal Entity | 15.97% | 222,401,993 | 0 | | Norinco Investment Management Co., Ltd. | State-owned Legal Entity | 12.62% | 175,742,980 | 0 | | Jilin Jiangbei Machinery Manufacturing Co., Ltd. | State-owned Legal Entity | 4.94% | 68,832,640 | 0 | | Shandong Special Industry Group Co., Ltd. | State-owned Legal Entity | 4.44% | 61,887,122 | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Entity | 3.27% | 45,532,392 | 0 | | Jiangnan Industrial Group Co., Ltd. | State-owned Legal Entity | 1.99% | 27,643,023 | 0 | | Wang Siqing | Domestic Natural Person | 1.28% | 17,820,000 | 0 | | National Social Security Fund 414 Portfolio | Other | 0.79% | 10,945,100 | 0 | | China Universal Fund - China Life Insurance Co., Ltd. - Dividend - China Universal Fund China Life Balanced Stock Portfolio Single Asset Management Plan (Available for Sale) | Other | 0.65% | 9,035,742 | 0 | | GF Fund - China Life Insurance Co., Ltd. - Dividend - GF Fund China Life Balanced Stock Portfolio Single Asset Management Plan (Available for Sale) | Other | 0.59% | 8,235,900 | 0 | - Yuxi Industrial Group Co., Ltd., Norinco Investment Management Co., Ltd., Jilin Jiangbei Machinery Manufacturing Co., Ltd., Shandong Special Industry Group Co., Ltd., and Jiangnan Industrial Group Co., Ltd. are all subsidiaries of China North Industries Group Corporation Limited and act in concert[8] Preferred Shareholder Holdings The company has no preferred shareholders - The company has no preferred shareholders[10] Other Important Matters There are no other important matters for the company in this reporting period - The company has no other important matters[10] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets grew by 1.74% to 14.27 billion CNY, with equity increasing by 9.28% and liabilities decreasing by 11.79% Consolidated Balance Sheet Key Data (As of September 30, 2022 vs. January 1, 2022) | Item | September 30, 2022 (CNY) | January 1, 2022 (CNY) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 5,083,411,344.87 | 6,379,282,411.95 | -20.31 | | Accounts Receivable | 1,962,711,551.03 | 797,581,779.15 | 146.08 | | Other Receivables | 50,428,921.98 | 16,820,701.27 | 199.80 | | Inventories | 1,513,681,548.35 | 1,212,145,337.25 | 24.88 | | Construction in Progress | 910,239,527.97 | 689,380,668.21 | 32.04 | | Long-term Prepaid Expenses | 5,377,287.19 | 3,498,235.60 | 53.71 | | Other Non-current Assets | 258,181,148.61 | 196,262,283.56 | 31.55 | | Short-term Borrowings | 90,000,000.00 | 27,000,000.00 | 233.33 | | Notes Payable | 763,692,037.67 | 1,115,982,602.98 | -31.57 | | Contract Liabilities | 214,522,995.71 | 944,527,597.59 | -77.29 | | Taxes Payable | 189,375,776.48 | 75,841,388.83 | 149.70 | | Non-current Liabilities Due Within One Year | 11,474,918.32 | 4,220,540.61 | 171.88 | | Provisions | 3,224,531.84 | 42,084,553.32 | -92.34 | | Total Assets | 14,274,588,986.01 | 14,030,752,648.87 | 1.74 | | Total Liabilities | 4,427,574,956.07 | 5,019,817,451.53 | -11.79 | | Total Equity Attributable to Parent Company Shareholders | 9,847,014,029.94 | 9,010,935,197.34 | 9.28 | Consolidated Income Statement (Year-to-Date) Year-to-date operating revenue remained stable at 4.84 billion CNY, while operating profit, total profit, and net profit saw significant increases of 47.36%, 48.23%, and 45.21% respectively Consolidated Income Statement Key Data (Year-to-Date) | Item | Amount for This Period (CNY) | Amount for Prior Period (CNY) | Change YoY (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,839,488,171.10 | 4,848,224,918.70 | -0.18 | | Operating Cost | 3,228,106,590.63 | 3,646,545,874.66 | -11.50 | | Taxes and Surcharges | 31,083,021.51 | 29,955,615.08 | 3.76 | | Selling Expenses | 41,162,707.23 | 48,567,893.41 | -15.25 | | Administrative Expenses | 315,567,563.74 | 297,367,798.75 | 6.12 | | R&D Expenses | 272,746,910.34 | 203,188,467.08 | 34.23 | | Financial Expenses | -74,760,210.18 | -49,938,105.17 | -49.71 | | Investment Income | 9,216,011.26 | 6,696,398.53 | 37.63 | | Credit Impairment Losses | -525,063.68 | 3,471,236.73 | -115.13 | | Gains from Asset Disposal | 2,477,758.28 | -1,337,174.46 | 285.30 | | Operating Profit | 1,048,065,288.73 | 711,186,685.38 | 47.36 | | Total Profit | 1,055,012,954.40 | 711,712,220.31 | 48.23 | | Income Tax Expense | 173,977,150.74 | 104,991,905.26 | 65.71 | | Net Profit | 881,035,803.66 | 606,720,315.05 | 45.21 | | Net Profit Attributable to Parent Company Shareholders | 881,035,803.66 | 606,720,315.05 | 45.21 | | Basic EPS | 0.6327 | 0.4357 | 45.21 | - Non-operating income increased by 296.15% year-on-year, mainly due to increased deductions for business compensation and other items as per regulations[15] Consolidated Cash Flow Statement (Year-to-Date) Year-to-date net operating cash flow was -1.17 billion CNY, a 425.27% decrease, while investing cash flow improved, and financing cash flow significantly increased by 446.13% Consolidated Cash Flow Statement Key Data (Year-to-Date) | Item | Amount for This Period (CNY) | Amount for Prior Period (CNY) | Change YoY (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,174,520,204.79 | 361,095,943.26 | -425.27 | | Net Cash Flow from Investing Activities | -205,147,101.47 | -518,217,428.32 | 60.41 | | Net Cash Flow from Financing Activities | 107,261,260.77 | 19,640,413.98 | 446.13 | | Net Increase in Cash and Cash Equivalents | -1,272,486,049.72 | -137,685,569.95 | -824.20 | | Cash and Cash Equivalents at Period End | 5,063,074,449.11 | 5,174,264,047.29 | -2.15 | - Cash received from sales of goods and services decreased year-on-year, while cash paid for goods and services slightly increased[17] - Cash received from investment recovery and investment income both increased[17] Audit Report This quarterly report has not been audited - The company's third-quarter report has not been audited[19]