粤桂股份(000833) - 2022 Q1 - 季度财报

Main Financial Data This section presents the company's key financial performance indicators, non-recurring gains and losses, and detailed analysis of significant financial metric changes for the reporting period Key Accounting Data and Financial Indicators The company demonstrated strong performance in Q1 2022, with a slight 3.46% YoY increase in operating revenue, while net profit attributable to shareholders surged by 2,883.39% YoY, and non-recurring net profit turned profitable, indicating significant improvement in core business profitability. Operating cash flow, though still negative, improved significantly by 90.58% YoY Key Financial Indicators for Q1 2022 | Metric | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 618.67 million | 598.00 million | 3.46% | | Net Profit Attributable to Parent Company Shareholders | 35.59 million | 1.19 million | 2,883.39% | | Net Profit Attributable to Parent Company Shareholders Excluding Non-recurring Items | 34.34 million | -1.98 million | 1,833.27% | | Net Cash Flow from Operating Activities | -18.70 million | -198.53 million | 90.58% | | Basic EPS (CNY/share) | 0.0533 | 0.0018 | 2,861.11% | | Weighted Average ROE | 1.14% | 0.04% | 1.10% | | Total Assets | 5.29 billion | 5.18 billion | 2.03% (vs. prior year-end) | | Total Equity Attributable to Parent Company Shareholders | 3.14 billion | 3.10 billion | 1.19% (vs. prior year-end) | Non-recurring Gains and Losses Items and Amounts The company's total non-recurring gains and losses for the reporting period amounted to 1.25 million CNY, primarily from government grants and investment income from wealth management products Details of Non-recurring Gains and Losses for Q1 2022 | Item | Current Period Amount (CNY) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 211,317.32 | Disposal of non-current assets | | Government Grants Recognized in Current Period P&L | 849,622.48 | Government grants | | Investment Income from Trading Financial Assets, etc. | 709,624.13 | Investment income from wealth management products | | Other Non-operating Income and Expenses | -410,808.29 | Donation expenses, late fees | | Total | 1,254,418.70 | -- | Analysis of Changes in Key Financial Indicators Several financial indicators experienced significant changes during the reporting period: accounts receivable increased by 99.62% due to increased credit sales to quality customers; financial expenses rose by 105.14% due to increased bank borrowings; income tax expense grew by 252.51% driven by a substantial increase in total profit; and asset impairment losses decreased significantly by 311.81% YoY due to reduced inventory and price recovery - Accounts receivable increased by 99.62% from the beginning of the period, primarily due to improved market conditions and increased credit sales to quality long-term customers[6] - Financial expenses increased by 105.14% YoY, mainly due to higher interest expenses from increased bank borrowings and reduced interest income from restricted fundraising accounts[7] - Asset impairment losses decreased by 311.81% YoY, primarily because of reduced inventory and price recovery in the current period, leading to a corresponding decrease in inventory depreciation provisions[10] - Income tax expense increased by 252.51% YoY, mainly due to improved market conditions and a substantial increase in total profit[8] Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the shareholding status of the top ten shareholders, highlighting concerted parties and frozen shares Shareholding Status of Shareholders As of the end of the reporting period, the company had 42,427 common shareholders. The top three shareholders are concerted parties, holding a combined 54.78%, indicating a relatively concentrated equity structure. Some individual shareholders' shares are frozen - As of the end of the reporting period, the company had 42,427 common shareholders[9] - The top three shareholders, Yunfu Guangye Sulphur Iron Ore Group Co., Ltd. (31.31%), Guangdong Environmental Protection Group Co., Ltd. (12.13%), and Guangxi Guangye Yuegui Investment Group Co., Ltd. (11.34%), are concerted parties[9][11] - Shares held by individual shareholders Fang Shaoyu, Lie Fengmei, and Liang Shulian are largely frozen[9] Other Significant Matters During the reporting period, the company elected a new Chairman of the Supervisory Board. Its key subsidiary, Guitang Group, successfully commenced trial production of its '108,900 tons/year Bleached Pulp Project' at the end of March, which is expected to positively impact future capacity and performance. Additionally, the subsidiary completed its industrial and commercial registration address change - On March 17, 2022, Mr. Zeng Yingji was elected as the Chairman of the company's Eighth Supervisory Board[12] - On March 31, 2022, the wholly-owned subsidiary Guitang Group's "108,900 tons/year Bleached Pulp Project" commenced trial production[12] - The wholly-owned subsidiary Guitang Group completed the industrial and commercial registration change of its domicile[12] Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement, providing a comprehensive overview of financial position and performance Consolidated Balance Sheet As of March 31, 2022, the company's total assets were 5.29 billion CNY, a 2.03% increase from the beginning of the year; total liabilities were 2.13 billion CNY, and total equity attributable to parent company shareholders was 3.14 billion CNY, maintaining a stable asset-liability structure. Asset growth was primarily driven by increases in construction in progress and monetary funds, while liability growth stemmed mainly from increased short-term and long-term borrowings Key Items from Consolidated Balance Sheet | Item | Period-end Balance (CNY) | Year-start Balance (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 5.29 billion | 5.18 billion | 2.03% | | Total Liabilities | 2.13 billion | 2.06 billion | 3.29% | | Total Equity Attributable to Parent Company Shareholders | 3.14 billion | 3.10 billion | 1.19% | Consolidated Income Statement In Q1 2022, the company achieved operating revenue of 619 million CNY, a 3.46% YoY increase. Benefiting from effective control of operating costs and reversal of asset impairment losses, operating profit significantly grew to 46.40 million CNY, resulting in a net profit attributable to parent company shareholders of 35.59 million CNY, a substantial 2,883.39% YoY surge, indicating a significant improvement in profitability Key Items from Consolidated Income Statement | Item | Current Period (CNY) | Prior Period (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 618.67 million | 598.00 million | 3.46% | | Operating Profit | 46.40 million | 4.72 million | 882.47% | | Total Profit | 46.22 million | 5.12 million | 803.04% | | Net Profit Attributable to Parent Company Shareholders | 35.59 million | 1.19 million | 2,883.39% | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -18.70 million CNY, a significant improvement from -199 million CNY in the prior year period. Net cash flow from investing activities turned positive with a net inflow of 9.997 million CNY. Net cash inflow from financing activities was 132 million CNY, primarily due to increased borrowings. Overall, cash and cash equivalents increased by 124 million CNY Key Items from Consolidated Cash Flow Statement | Item | Current Period (CNY) | Prior Period (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -18.70 million | -198.53 million | | Net Cash Flow from Investing Activities | 9.997 million | -254.94 million | | Net Cash Flow from Financing Activities | 132.35 million | 186.45 million | | Net Increase in Cash and Cash Equivalents | 123.63 million | -266.97 million | Audit Opinion The company's Q1 2022 financial report is unaudited