佛塑科技(000973) - 2021 Q1 - 季度财报

Important Notice The company's board, supervisors, and senior management collectively affirm the truthfulness, accuracy, and completeness of this quarterly report and its financial statements - The company's Board of Directors, Board of Supervisors, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and commit to bearing corresponding legal responsibilities[5] - All directors attended the Board of Directors meeting that reviewed this quarterly report[6] - The company's principal officer, the officer in charge of accounting, and the head of the accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements[6] Company Profile This section provides an overview of the company's key financial performance indicators and its shareholder structure for the reporting period Key Accounting Data and Financial Indicators In Q1 2021, the company achieved strong performance with a 29.86% year-on-year increase in operating revenue and a significant 229.87% surge in net profit attributable to shareholders, though net cash flow from operating activities turned negative due to increased raw material purchases Key Financial Indicators for Q1 2021 | Indicator | Current Period (CNY) | Prior Year Same Period (CNY) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 555,416,981.13 | 427,700,002.93 | 29.86% | | Net Profit Attributable to Shareholders of Listed Company | 26,323,608.17 | 7,979,897.88 | 229.87% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 23,956,942.46 | 6,530,929.89 | 266.82% | | Net Cash Flow from Operating Activities | -41,853,547.80 | 51,529,124.63 | -181.22% | | Basic Earnings Per Share (CNY/share) | 0.0272 | 0.0082 | 231.71% | | Weighted Average Return on Net Assets | 1.10% | 0.34% | Increased by 0.76 percentage points | | Total Assets (CNY) | 3,867,861,714.43 | - | -0.78% (Compared to End of Prior Year) | | Net Assets Attributable to Shareholders of Listed Company (CNY) | 2,416,211,855.70 | - | 1.10% (Compared to End of Prior Year) | - During the reporting period, non-recurring gains and losses totaled 2.37 million CNY, primarily from government subsidies and investment income from transactional financial assets[9][10] Shareholder Information As of the end of the reporting period, the company had 82,742 common shareholders, with controlling shareholder Guangdong Guangxin Holdings Group Co., Ltd. holding 26.75%, maintaining a stable equity structure and no related party or concerted action among the top ten shareholders - As of the end of the reporting period, the company had a total of 82,742 common shareholders[12] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Guangdong Guangxin Holdings Group Co., Ltd. | State-owned Legal Person | 26.75% | 258,760,512 | | Central Huijin Asset Management Co., Ltd. | State-owned Legal Person | 1.46% | 14,157,600 | | Zhang Jingbing | Domestic Natural Person | 0.91% | 8,779,200 | - There are no related party relationships or concerted actions between the controlling shareholder, Guangdong Guangxin Holdings Group Co., Ltd., and other shareholders[13] Significant Events This section details significant changes in key financial data, progress on major projects, financial asset investments, and entrusted wealth management activities during the reporting period Analysis of Changes in Key Financial Data and Reasons During the reporting period, several financial indicators changed significantly, with net profit surging by 229.87% due to innovation and market expansion, while net operating cash flow plummeted by 181.22% due to increased raw material purchases, alongside a 56.52% rise in R&D expenses and a 54.69% decrease in financial expenses - Net profit attributable to owners of the parent company increased by 229.87% year-on-year, primarily due to the company's increased R&D innovation, refined management, and expanded market share, leading to substantial growth in core business profit[16] - Net cash flow from operating activities decreased by 181.22% year-on-year, mainly due to increased raw material procurement expenditures during the current period[16] - R&D expenses increased by 56.52% year-on-year due to increased R&D investment, while financial expenses decreased by 54.69% year-on-year primarily due to reduced interest expenses from lower bank loan balances[16] Progress of Significant Events The company's significant projects are progressing smoothly, with the "High-Speed Energy-Saving Infant Substrate Project" by subsidiary Huahan Co. completing infrastructure acceptance and entering trial production, while the company also announced plans to liquidate and deregister its controlling subsidiary Foshan Jinzhi Energy-Saving Film Co., Ltd. on March 26, 2021 - The "High-Speed Energy-Saving Infant Substrate Project" invested in by controlling subsidiary Huahan Co. is progressing smoothly, with factory infrastructure completing joint acceptance and main production equipment installed and entering trial production[18] - The company announced on March 26, 2021, its intention to liquidate and deregister its controlling subsidiary, Foshan Jinzhi Energy-Saving Film Co., Ltd[19] Financial Asset Investments During the reporting period, the company made no securities investments, but its subsidiary Foshan Jinwanda Technology Co., Ltd. engaged in forward foreign exchange settlement totaling 16.58 million CNY to hedge against exchange rate risks, based on actual import and export business and not for speculative purposes Securities Investment Status The company did not engage in any securities investments during the reporting period - The company had no securities investments during the reporting period[20] Derivative Investment Status To hedge against exchange rate risks, subsidiary Foshan Jinwanda Technology Co., Ltd. executed four forward foreign exchange settlement transactions totaling 16.58 million CNY during the reporting period, all based on the company's import and export business to lock in costs and mitigate currency fluctuation risks, with all necessary approvals obtained Overview of Derivative Investments in Q1 2021 | Operator | Type | Initial Investment Amount (CNY 10,000) | Amount Purchased/Sold During Reporting Period (CNY 10,000) | Investment Amount at Period-End (CNY 10,000) | | :--- | :--- | :--- | :--- | :--- | | Foshan Jinwanda Technology Co., Ltd. | Forward Foreign Exchange Settlement | 1,657.72 | 1,657.72 | 0 | - The company has established an "Internal Control System for Foreign Exchange Transactions," stipulating that all foreign exchange transactions must be based on the company's import/export business or foreign currency liabilities, aiming to hedge against and prevent exchange rate or interest risks and preserve asset value[23] Entrusted Wealth Management During the reporting period, the company used 118.51 million CNY of its own funds to purchase bank wealth management products, with an outstanding balance of 48.68 million CNY at period-end, all of which were low-risk bank products with no principal recovery issues Entrusted Wealth Management Status (Unit: CNY 10,000) | Specific Type | Source of Funds | Amount Transacted | Unmatured Balance | Overdue Unrecovered Amount | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 11,851.01 | 4,868.26 | 0 | Financial Statements This section presents the consolidated balance sheet, income statement, and cash flow statement, along with explanations for financial statement adjustments, providing a comprehensive view of the company's financial position and performance Consolidated Balance Sheet As of March 31, 2021, the company's total assets were 3.87 billion CNY, a slight decrease of 0.78% from the prior year-end, while total liabilities were 1.16 billion CNY, down 5.58%, and equity attributable to the parent company increased by 1.10% to 2.42 billion CNY, maintaining a stable asset structure Key Items of Consolidated Balance Sheet (March 31, 2021) | Item | Amount (CNY) | Change from Prior Year-End | | :--- | :--- | :--- | | Total Assets | 3,867,861,714.43 | -0.78% | | Total Liabilities | 1,158,051,153.36 | -5.58% | | Total Equity Attributable to Owners of Parent Company | 2,416,211,855.70 | 1.10% | Consolidated Income Statement In Q1 2021, the company achieved total operating revenue of 555.42 million CNY, a 29.86% year-on-year increase, with total operating costs controlled at 534 million CNY, resulting in a net profit attributable to parent company shareholders of 26.32 million CNY, a significant 229.87% year-on-year growth, and basic earnings per share of 0.0272 CNY Key Items of Consolidated Income Statement (Q1 2021) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 555,416,981.13 | 427,700,002.93 | | Operating Profit | 36,833,241.84 | 13,458,677.94 | | Total Profit | 36,858,423.91 | 13,138,074.07 | | Net Profit Attributable to Shareholders of Parent Company | 26,323,608.17 | 7,979,897.88 | | Basic Earnings Per Share | 0.0272 | 0.0082 | Consolidated Cash Flow Statement In Q1 2021, net cash flow from operating activities was -41.85 million CNY, a significant year-on-year decrease due to increased payments for goods and services, while net cash flow from investing activities turned positive at 21.18 million CNY, and net cash flow from financing activities was -69.09 million CNY, with cash and cash equivalents totaling 304 million CNY at period-end Key Items of Consolidated Cash Flow Statement (Q1 2021) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -41,853,547.80 | 51,529,124.63 | | Net Cash Flow from Investing Activities | 21,184,602.95 | -158,628,285.27 | | Net Cash Flow from Financing Activities | -69,086,694.75 | 97,114,833.19 | | Net Increase in Cash and Cash Equivalents | -90,218,877.44 | -9,939,958.60 | Explanation of Financial Statement Adjustments Effective January 1, 2021, the company adopted new lease accounting standards, adjusting its financial statements at the initial application date to recognize 8.22 million CNY in right-of-use assets and corresponding lease liabilities in the consolidated balance sheet, with no impact on opening owner's equity - The company first adopted new lease accounting standards starting in 2021 and adjusted relevant financial statement items at the beginning of the year of initial application[56] Impact of New Lease Standard Adoption (January 1, 2021) | Item | Impact Amount (CNY) | | :--- | :--- | | Right-of-Use Assets | +8,222,084.87 | | Non-current Liabilities Due Within One Year | +1,991,600.12 | | Lease Liabilities | +6,230,484.75 | Audit Report The company's first-quarter 2021 report has not been subjected to an audit - The company's Q1 2021 report is unaudited[66]