滨海能源(000695) - 2021 Q3 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators In Q3 2021, revenue slightly decreased by 1.76% year-over-year, while net profit attributable to shareholders incurred a significant loss of RMB 11.70 million, declining by 1393.77%; year-to-date, revenue grew by 30.66%, but net profit attributable to shareholders expanded to a loss of RMB 29.27 million, decreasing by 127.26%, with total assets and shareholder equity also declining from year-end Key Financial Indicators for Q3 2021 and Year-to-Date | Indicator | Current Period (Q3 2021) | YoY Change (%) | Year-to-Date (YTD Q3 2021) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 161,913,038.90 | -1.76% | 379,403,563.38 | 30.66% | | Net Profit Attributable to Shareholders (RMB) | -11,703,039.27 | -1,393.77% | -29,268,708.03 | -127.26% | | Net Cash Flow from Operating Activities (RMB) | — | — | -21,176,974.21 | 75.67% | | Basic Earnings Per Share (RMB/share) | -0.0527 | -1,404.38% | -0.1318 | -127.16% | Key Balance Sheet Indicators at Period End | Indicator | Current Period End (2021-09-30) | Prior Year End (2020-12-31) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | | Total Assets (RMB) | 1,006,630,968.37 | 1,076,730,574.26 | -6.51% | | Shareholders' Equity Attributable to Listed Company (RMB) | 331,468,879.56 | 360,737,587.59 | -8.11% | Non-recurring Gains and Losses Items and Amounts Year-to-date, total non-recurring gains and losses amounted to RMB 0.67 million, primarily from government subsidies, leading to an expanded net loss attributable to shareholders of RMB 29.94 million after excluding these items Details of Non-recurring Gains and Losses (Year-to-Date) | Item | Amount Year-to-Date (RMB) | | :--- | :--- | | Government Subsidies | 2,149,452.36 | | Net Other Non-operating Income and Expenses | 241,999.47 | | Other Defined Gain/Loss Items | -833,184.74 | | Less: Income Tax and Minority Interest Impact | 884,529.76 | | Total | 673,737.33 | Changes and Reasons for Key Accounting Data and Financial Indicators Several financial indicators experienced significant changes during the reporting period, driven by factors such as rising raw material prices, the adoption of new leasing standards, business recovery, increased expenses, and a surge in non-operating income from government subsidies - Reasons for Significant Balance Sheet Item Changes: - Prepayments (+121.53%) and Inventories (+43.69%) increased primarily due to significant raw material price hikes[7][8] - Fixed Assets (-38.60%), Right-of-Use Assets (+100.00%), Non-current Liabilities Due Within One Year (+247.83%), and Lease Liabilities (+100.00%) changed mainly due to the reclassification of finance lease equipment and related payables under the new leasing standards[7][8][9] - Reasons for Significant Income Statement Item Changes: - Operating Revenue (+30.66%) and Operating Costs (+36.15%) increased as sales gradually recovered from a low base in the prior year due to the pandemic[9] - Selling Expenses (+148.74%) rose primarily due to increased revenue and new warehouse lease costs[9] - Non-operating Income (+3196.23%) surged mainly due to an increase in government subsidies received[9] Shareholder Information Total Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 12,992 common shareholders, with the top two being state-owned entities, Tianjin Jingjin Culture Media Development Co., Ltd. and Tianjin TEDA Investment Holding Co., Ltd., holding 25.00% and 7.54% respectively, both with portions of their shares pledged - At the end of the reporting period, the company had 12,992 common shareholders[11] Top Two Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | Number of Shares Pledged | | :--- | :--- | :--- | :--- | :--- | | Tianjin Jingjin Culture Media Development Co., Ltd. | State-owned Legal Entity | 25.00% | 55,536,885 | 27,768,442 | | Tianjin TEDA Investment Holding Co., Ltd. | State-owned Legal Entity | 7.54% | 16,758,772 | 8,370,000 | Other Significant Matters Controlling Shareholder's Proposed Transfer of Company Control The controlling shareholder, Jingjin Culture, is proceeding with a proposed transfer of 20% of the company's shares via public solicitation, a process approved by relevant authorities and disclosed on the Tianjin Cultural Assets Exchange, with one potential transferee currently under review, which may lead to a change in the company's controlling shareholder and actual controller - Controlling shareholder Jingjin Culture intends to transfer 44,429,508 shares, representing 20% of the company's total share capital, through a public solicitation and agreement transfer method[14] - This public solicitation transfer has been approved by the Tianjin Municipal Cultural System Reform and Development Leading Group Office and has completed pre-disclosure and formal disclosure on the Tianjin Cultural Assets Exchange[15][16] - As of the report disclosure date, one potential transferee has submitted an application and is undergoing comprehensive review, with the final outcome uncertain; a successful transfer may result in a change of the company's controlling shareholder and actual controller[16][17] Quarterly Financial Statements Financial Statements As of September 30, 2021, the financial statements show total assets of RMB 1.01 billion and total liabilities of RMB 440 million; year-to-date, total operating revenue reached RMB 379 million, but total operating costs of RMB 428 million resulted in a total profit loss of RMB 47.56 million and a net loss attributable to shareholders of RMB 29.27 million, with net cash flow from operating activities at -RMB 21.18 million, indicating the core business has not yet generated positive cash flow Consolidated Balance Sheet As of September 30, 2021, total assets were RMB 1.01 billion, a 6.51% decrease from year-end, and equity attributable to parent company owners was RMB 331 million, an 8.11% decrease, primarily due to the adoption of new leasing standards impacting fixed assets and right-of-use assets Key Balance Sheet Items (2021-09-30 vs 2020-12-31) | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,006,630,968.37 | 1,076,730,574.26 | -6.51% | | Total Liabilities | 440,214,398.47 | 491,227,136.32 | -10.39% | | Total Equity Attributable to Parent Company Owners | 331,468,879.56 | 360,737,587.59 | -8.11% | Consolidated Income Statement Year-to-Date In the first three quarters of 2021, total operating revenue was RMB 379 million, up 30.66% year-over-year, but total operating costs of RMB 428 million increased by 34.33%, outpacing revenue growth and resulting in an operating loss of RMB 47.80 million and a net loss attributable to shareholders of RMB 29.27 million, a 127.26% expansion of loss from the prior year Key Income Statement Items (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 379,403,563.38 | 290,371,374.28 | +30.66% | | Total Operating Costs | 428,131,875.07 | 318,711,928.03 | +34.33% | | Operating Profit | -47,800,356.74 | -24,552,660.99 | -94.68% | | Net Profit Attributable to Parent Company Owners | -29,268,708.03 | -12,879,036.98 | -127.26% | Consolidated Cash Flow Statement Year-to-Date In the first three quarters of 2021, net cash flow from operating activities was -RMB 21.18 million, a significant improvement from -RMB 87.03 million in the prior year, though still a net outflow; net cash outflow from investing activities was RMB 5.03 million, while net cash inflow from financing activities was RMB 9.04 million, resulting in an ending cash and cash equivalents balance of RMB 29.85 million, a RMB 17.11 million decrease from the beginning of the period Key Cash Flow Statement Items (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -21,176,974.21 | -87,033,395.72 | | Net Cash Flow from Investing Activities | -5,029,330.55 | -49,735,142.27 | | Net Cash Flow from Financing Activities | 9,043,022.57 | 104,390,508.91 | | Net Increase in Cash and Cash Equivalents | -17,106,320.84 | -32,383,009.97 | Explanation of Financial Statement Adjustments Effective January 1, 2021, the company adopted new leasing standards, retrospectively adjusting opening financial statements by reclassifying finance lease assets and liabilities from 'Fixed Assets' and 'Long-term Payables' to the newly introduced 'Right-of-Use Assets' and 'Lease Liabilities' accounts - The company first adopted new leasing standards effective January 1, 2021, and adjusted its opening financial statements accordingly[30] Major Impact of New Leasing Standards on Opening Balance Sheet | Adjusted Item | Before Adjustment (RMB) | After Adjustment (RMB) | Adjustment Amount (RMB) | | :--- | :--- | :--- | :--- | | Fixed Assets | 372,294,018.17 | 187,566,189.44 | -184,727,828.73 | | Right-of-Use Assets | 0 | 184,727,828.73 | +184,727,828.73 | | Long-term Payables | 92,869,751.83 | 0 | -92,869,751.83 | | Lease Liabilities | 0 | 92,869,751.83 | +92,869,751.83 |