天保基建(000965) - 2023 Q3 - 季度财报

Major Financial Data Key Accounting Data and Financial Indicators The company's Q3 2023 and year-to-date financial performance shows significant revenue growth, but substantial losses in net profit and net profit after non-recurring items, with operating cash flow turning negative; total assets increased, while shareholder equity slightly decreased Key Accounting Data and Financial Indicators | Indicator | Current Period (CNY) | YoY Change in Current Period | Year-to-Date (CNY) | YoY Change in Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,123,680,842.56 | 563.07% | 1,522,263,605.41 | 48.37% | | Net Profit Attributable to Shareholders | -119,725,891.62 | -1,086.83% | -109,255,640.67 | -277.54% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -121,843,546.46 | -1,109.69% | -118,050,504.83 | -293.17% | | Net Cash Flow from Operating Activities | — | — | -918,527,506.07 | -295.60% | | Basic Earnings Per Share (CNY/share) | -0.1079 | -1,089.91% | -0.0984 | -277.62% | | Diluted Earnings Per Share (CNY/share) | -0.1079 | -1,089.91% | -0.0984 | -277.62% | | Weighted Average Return on Net Assets | -2.23% | -2.45% | -2.03% | -3.16% | | Period-End Indicators | End of Current Period (CNY) | End of Previous Year (CNY) | Change from Previous Year-End | | | Total Assets | 14,406,298,740.42 | 12,818,217,319.25 | 12.39% | | | Total Equity Attributable to Shareholders | 5,316,468,721.50 | 5,449,732,567.01 | -2.45% | | Non-recurring Gains and Losses Items and Amounts During the reporting period, the company's non-recurring gains and losses primarily included government subsidies, capital occupation fees, and other non-operating income/expenses, collectively contributing positive but relatively small gains with limited impact on overall losses Non-recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (CNY) | Amount from Year-Beginning to Period-End (CNY) | | :--- | :--- | :--- | | Government subsidies included in current profit/loss | 50,964.39 | 192,889.47 | | Capital occupation fees collected from non-financial enterprises included in current profit/loss | 11,142,222.22 | 35,743,574.40 | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | | 40,312.00 | | Other non-operating income and expenses apart from the above | 182,805.08 | 263,398.68 | | Other profit/loss items conforming to the definition of non-recurring gains and losses | -9,200,000.00 | -27,300,000.00 | | Less: Income tax impact | 58,336.85 | 117,215.87 | | Minority interests impact (after tax) | | 28,094.52 | | Total | 2,117,654.84 | 8,794,864.16 | Changes and Reasons for Key Accounting Data and Financial Indicators Significant changes occurred across balance sheet and income statement items: assets increased due to project progress and reclassifications; liabilities saw short-term debt reduction but higher advances from customers. Revenue grew from property sales, yet impairment losses led to substantial operating and net profit losses. Operating cash flow turned negative from land payments, while financing cash flow surged from new investments Changes in Key Accounting Data and Financial Indicators | Account Item | Change Rate | Reason for Change | Source Chunk Number | | :--- | :--- | :--- | :--- | | Accounts Receivable | 738.94% | Primarily due to the accrual of accounts receivable for the Tiantuo Phase II project during the reporting period | [7] | | Prepayments | 142.35% | Primarily due to increased prepaid hotel renovation and other expenses during the reporting period | [7] | | Other Receivables | 45.81% | Primarily due to land deposit payments during the reporting period | [7] | | Other Current Assets | 87.57% | Primarily due to increased prepaid taxes during the reporting period | [7] | | Fixed Assets | 579.79% | Primarily due to inventory reclassification to fixed assets during the reporting period | [7] | | Right-of-Use Assets | -100.00% | Primarily due to the expiration of leased properties during the reporting period | [7] | | Short-term Borrowings | -54.93% | Primarily due to a decrease in short-term factoring loans and short-term finance lease borrowings during the reporting period | [7] | | Advances from Customers | 224.08% | Primarily due to increased prepaid rent during the reporting period | [7] | | Contract Liabilities | 74.54% | Primarily due to receipt of property sales proceeds during the reporting period | [7] | | Deferred Income | -100.00% | Primarily due to government subsidy projects being reclassified to fixed assets during the reporting period | [7] | | Operating Revenue (Jan-Sep) | 48.37% | Primarily due to a year-on-year increase in property sales revenue meeting recognition conditions during the reporting period | [7] | | Operating Costs (Jan-Sep) | 153.64% | Primarily due to a year-on-year increase in property sales revenue meeting recognition conditions, leading to a corresponding increase in operating costs recognized during the reporting period | [8] | | Taxes and Surcharges (Jan-Sep) | -80.58% | Primarily due to a decrease in land value-added tax recognized during the reporting period | [8] | | Investment Income (Jan-Sep) | -1,351.05% | Primarily due to an increase in debt investment income during the reporting period | [8] | | Credit Impairment Losses (Jan-Sep) | -354.83% | Primarily due to an increase in accounts receivable during the reporting period | [8] | | Asset Impairment Losses (Jan-Sep) | -100.00% | Primarily due to impairment provisions for the Tiantuo Phase II project during the reporting period | [8] | | Operating Profit (Jan-Sep) | -248.31% | Primarily due to a decrease in project gross profit and impairment provisions during the reporting period | [8] | | Total Profit (Jan-Sep) | -247.48% | Primarily due to a decrease in project gross profit and impairment provisions during the reporting period | [8] | | Net Profit Attributable to Parent Company Shareholders (Jan-Sep) | -277.54% | Primarily due to a year-on-year decrease in total profit during the reporting period | [8] | | Net Cash Flow from Operating Activities (Jan-Sep) | -295.60% | Primarily due to land payments during the reporting period | [8] | | Net Cash Flow from Investing Activities (Jan-Sep) | 119.57% | Primarily due to a decrease in cash paid for investments during the reporting period | [8] | | Net Cash Flow from Financing Activities (Jan-Sep) | 3,215.08% | Primarily due to an increase in cash received from investments during the reporting period | [8] | Shareholder Information Total Number of Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of September 30, 2023, the company had 67,193 common shareholders; Tianjin Tianbao Holdings Co., Ltd. is the largest shareholder with 51.45% equity, with some shares pledged, and three top ten individual shareholders are involved in margin trading - The total number of common shareholders at the end of the reporting period was 67,193[10] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (shares) | Number of Pledged Shares (shares) | | :--- | :--- | :--- | :--- | :--- | | Tianjin Tianbao Holdings Co., Ltd. | State-owned Legal Person | 51.45% | 570,995,896 | 236,198,000 | - Among the company's top 10 common shareholders, Zhou Lihui, Zhou Jingming, and Chen Bo are involved in margin trading and securities lending businesses[11] Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[12] Other Significant Matters Other Significant Matters There are no other significant matters to disclose in this reporting period - The company has no other significant matters[12] Quarterly Financial Statements Financial Statements This section presents the company's consolidated balance sheet as of September 30, 2023, and consolidated income and cash flow statements for the year-to-date, comprehensively detailing financial position, operating results, and cash flow Consolidated Balance Sheet As of September 30, 2023, total assets grew by 12.39% to CNY 14.41 billion, with current assets at CNY 11.72 billion and non-current assets at CNY 2.69 billion; liabilities totaled CNY 7.97 billion and owner's equity CNY 6.44 billion, driven by increases in receivables, fixed assets, and contract liabilities, offset by reduced short-term borrowings Consolidated Balance Sheet | Item | September 30, 2023 (CNY) | January 1, 2023 (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Total Assets | 14,406,298,740.42 | 12,818,217,319.25 | 12.39% | | Total Current Assets | 11,719,735,151.62 | 10,252,767,247.60 | 14.31% | | Total Non-current Assets | 2,686,563,588.80 | 2,565,450,071.65 | 4.72% | | Total Liabilities | 7,970,541,676.45 | 7,360,004,817.55 | 8.29% | | Total Current Liabilities | 6,401,570,134.35 | 6,117,036,935.85 | 4.65% | | Total Non-current Liabilities | 1,568,971,542.10 | 1,242,967,881.70 | 26.23% | | Total Equity Attributable to Parent Company Shareholders | 5,316,468,721.50 | 5,449,732,567.01 | -2.45% | | Minority Interests | 1,119,288,342.47 | 8,479,934.69 | 13100.00% | | Total Shareholders' Equity | 6,435,757,063.97 | 5,458,212,501.70 | 17.91% | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, total operating revenue reached CNY 1.52 billion, up 48.37% year-on-year; however, increased operating costs and significant impairment losses led to negative operating and total profit, with net profit attributable to parent company shareholders at a CNY 109 million loss, a 277.54% decrease from the prior year Consolidated Income Statement from Year-Beginning to End of Reporting Period | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,522,263,605.41 | 1,025,972,661.47 | 48.37% | | Total Operating Costs | 1,565,758,278.97 | 946,945,241.84 | 65.36% | | Operating Costs | 1,329,099,008.27 | 524,012,697.91 | 153.64% | | Taxes and Surcharges | 43,455,783.72 | 223,773,751.91 | -80.58% | | Selling Expenses | 54,889,577.84 | 43,123,619.07 | 27.28% | | Administrative Expenses | 28,279,485.95 | 29,495,546.48 | -4.12% | | Financial Expenses | 110,034,423.19 | 126,539,626.47 | -13.04% | | Investment Income | 42,906,187.10 | -3,429,600.65 | -1351.05% | | Credit Impairment Losses | -15,722,786.57 | 6,170,011.98 | -354.83% | | Asset Impairment Losses | -106,488,681.80 | 0 | -100.00% | | Operating Profit | -122,446,849.07 | 82,559,819.12 | -248.31% | | Total Profit | -122,183,450.39 | 82,846,832.62 | -247.48% | | Net Profit | -112,272,960.24 | 62,348,932.89 | -280.10% | | Net Profit Attributable to Parent Company Shareholders | -109,255,640.67 | 61,538,216.51 | -277.54% | | Minority Shareholder Profit/Loss | -3,017,319.57 | 810,716.38 | -471.09% | | Basic Earnings Per Share | -0.0984 | 0.0554 | -277.62% | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, net cash flow from operating activities was -CNY 919 million due to land payments, turning negative year-on-year; investing cash flow improved to CNY 115 million, and financing cash flow surged to CNY 915 million from new investments, with period-end cash and equivalents at CNY 807 million Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -918,527,506.07 | 469,590,769.56 | -295.60% | | Net Cash Flow from Investing Activities | 114,866,018.42 | -587,014,162.35 | 119.57% | | Net Cash Flow from Financing Activities | 914,716,705.29 | 27,592,628.05 | 3215.08% | | Net Increase in Cash and Cash Equivalents | 111,055,217.64 | -89,830,764.74 | -223.59% | | Cash and Cash Equivalents at Period-End | 806,576,554.82 | 449,226,675.14 | 79.55% | Adjustments to Financial Statement Items at the Beginning of the First Year of Adopting New Accounting Standards in 2023 The company did not retrospectively adjust initial financial statement items in 2023 upon adopting new accounting standards - The company did not adjust relevant financial statement items at the beginning of the year due to the first-time adoption of new accounting standards in 2023[22] Audit Report This quarterly report is unaudited - The company's third-quarter report is unaudited[22]