诚志股份(000990) - 2022 Q3 - 季度财报

Key Financial Data Q3 and YTD 2022 performance significantly declined, with substantial drops in net profit and operating cash flow Key Accounting Data and Financial Indicators Q3 and YTD 2022 performance significantly declined, with revenue down 10.66% and net profit attributable to shareholders turning into a loss Key Financial Indicators for Q3 and YTD 2022 | Indicator | Current Period (Q3) | YoY Change in Current Period | YTD (YTD) | YoY Change in YTD | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 2,835,821,919.31 | -10.66% | 9,319,553,429.31 | -2.68% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | -118,466,291.76 | -132.40% | 31,450,819.17 | -97.15% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (Yuan) | -131,646,778.63 | -133.84% | 7,861,788.59 | -99.30% | | Net Cash Flow from Operating Activities (Yuan) | — | — | 1,138,041,162.64 | -34.59% | | Basic Earnings Per Share (Yuan/Share) | -0.0975 | -132.40% | 0.0259 | -97.15% | Key Balance Sheet Data at Period End | Indicator | End of Current Period | End of Prior Year | Change from Prior Year End | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 25,311,196,577.61 | 24,447,250,885.01 | 3.53% | | Owners' Equity Attributable to Shareholders of Listed Company (Yuan) | 17,682,309,888.90 | 17,651,704,619.24 | 0.17% | Non-recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 13.18 million yuan for the period and 23.59 million yuan YTD, primarily from government subsidies and investment gains Details of Non-recurring Gains and Losses (Unit: Yuan) | Item | Current Period Amount | YTD Amount | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -582,934.88 | -256,453.92 | | Government Subsidies Included in Current Profit and Loss | 5,165,174.38 | 18,172,648.76 | | Gains and Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading, etc | 3,904,138.89 | 3,904,138.89 | | Other Non-operating Income and Expenses | -1,959,023.35 | -3,750,982.21 | | Other Gains and Losses Meeting the Definition of Non-recurring Items | 10,497,790.60 | 10,497,790.60 | | Total | 13,180,486.87 | 23,589,030.58 | Analysis of Changes in Key Financial Indicators and Reasons Key financial indicators showed significant changes, including increased short-term borrowings and contract liabilities, and over 90% decline in operating profit and net profit - From the beginning of the year to the end of the reporting period, the company's profitability significantly declined, primarily due to a substantial year-on-year increase in raw material prices for main products, significant price reductions for some products, decreased customer demand, and reduced production load[12] Changes in Key Financial Indicators YTD | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Income Statement Items | | | | Operating Profit | -91.54% | Raw material prices increased, product prices decreased, demand reduced | | Total Profit | -91.65% | Same as above | | Net Profit Attributable to Parent Company Shareholders | -97.15% | Same as above | | Cash Flow Statement Items | | | | Net Cash Flow from Operating Activities | -34.59% | Increased procurement costs | | Net Cash Flow from Investing Activities | -151.01% | Increased net investment | | Net Cash Flow from Financing Activities | 196.28% | Increased bank financing | - At the end of the reporting period, the company's short-term borrowings increased by 30.51% from the beginning of the year, contract liabilities by 64.25%, and other current liabilities by 193.36%, mainly due to increased bank loans, advances from customers, and letter of credit financing[12] Shareholder Information Details on the company's common shareholder base and top ten shareholders, including major state-owned entities, are provided Common Shareholder Holdings The company had 42,097 common shareholders, with the top two holding 29.90% and 15.30% respectively - As of the end of the reporting period, the company had a total of 42,097 common shareholders[16] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Chengzhi Kerong Holdings Co., Ltd | State-owned Legal Entity | 29.90% | 374,650,564 | | Tianfu Qingyuan Holdings Co., Ltd | State-owned Legal Entity | 15.30% | 191,677,639 | | Beijing Jinxin Zhuohua Investment Center (Limited Partnership) | Domestic Non-state-owned Legal Entity | 6.56% | 82,240,026 | | Zhongji Jin Investment Asset Management Co., Ltd | Other | 5.55% | 69,498,140 | | Xiao Yanli | Domestic Natural Person | 2.52% | 31,594,692 | Other Significant Matters The company disclosed progress on several significant matters, including major project investments, a subsidiary listing plan, and resolution of a debt dispute - The company plans to invest approximately 4 billion yuan in a POE (Polyolefin Elastomer) project and 800 million yuan in an Ultra-High Molecular Weight Polyethylene project through its wholly-owned subsidiary Qingdao Huaqing, both currently in the preliminary approval stage[20] - The company has initiated preliminary preparations for the spin-off and listing of its controlled subsidiary, Beijing Chengzhi Yonghua Technology Co., Ltd[24] - The newly constructed Yinhe Road Hydrogen Refueling Station project in Changshu has completed trial production and safety facility acceptance, obtained a hazardous chemical operating license, and is capable of hydrogen refueling[23] - Regarding the industrial hemp project of its subsidiary Yunnan Hanmeng Pharmaceutical, the company is actively coordinating factory delivery and has completed preparations for trial production[23] - A consensus has been reached regarding the debt dispute with Ningxia Chengzhi Wansheng Bio, with the counterparty agreeing to installment payments and providing mortgage guarantees[25] Quarterly Financial Statements The quarterly financial statements present the consolidated balance sheet, income statement, and cash flow statement, noting significant changes in assets, liabilities, and profitability Consolidated Balance Sheet As of September 30, 2022, total assets were 25.311 billion yuan, up 3.53%, total liabilities were 6.813 billion yuan, up 13.84%, and owners' equity attributable to shareholders was 17.682 billion yuan Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Assets | | | | Total Current Assets | 6,740,608,606.78 | 5,851,559,381.11 | | Total Non-current Assets | 18,570,587,970.83 | 18,595,691,503.90 | | Total Assets | 25,311,196,577.61 | 24,447,250,885.01 | | Liabilities | | | | Total Current Liabilities | 4,794,798,634.18 | 3,888,942,623.73 | | Total Non-current Liabilities | 2,018,033,804.62 | 2,095,694,229.39 | | Total Liabilities | 6,812,832,438.80 | 5,984,636,853.12 | | Owners' Equity | | | | Total Owners' Equity Attributable to Parent Company | 17,682,309,888.90 | 17,651,704,619.24 | | Minority Interests | 816,054,249.91 | 810,909,412.65 | | Total Owners' Equity | 18,498,364,138.81 | 18,462,614,031.89 | Consolidated Income Statement (YTD) In the first three quarters of 2022, operating revenue was 9.32 billion yuan, down 2.68%; operating profit plummeted 91.54% due to rising costs and falling prices, with net profit attributable to parent company shareholders dropping 97.15% Key Items from Consolidated Income Statement (Jan-Sep 2022 vs Jan-Sep 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 9,319,553,429.31 | 9,576,671,284.06 | | II. Total Operating Costs | 9,107,393,275.74 | 8,112,556,633.04 | | III. Operating Profit | 118,326,539.59 | 1,398,693,302.47 | | IV. Total Profit | 114,576,237.57 | 1,372,897,320.58 | | V. Net Profit | 110,980,254.37 | 1,139,103,232.71 | | Net Profit Attributable to Parent Company Shareholders | 31,450,819.17 | 1,104,415,324.47 | | Minority Interests Income/Loss | 79,529,435.20 | 34,687,908.24 | | VIII. Basic Earnings Per Share | 0.0259 | 0.9088 | Consolidated Cash Flow Statement (YTD) In the first three quarters of 2022, net cash flow from operating activities was 1.138 billion yuan, down 34.59%; net cash outflow from investing activities expanded 151.01%; and net cash inflow from financing activities was 502 million yuan Key Items from Consolidated Cash Flow Statement (Jan-Sep 2022 vs Jan-Sep 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,138,041,162.64 | 1,739,969,744.54 | | Net Cash Flow from Investing Activities | -1,359,916,790.50 | -541,781,368.81 | | Net Cash Flow from Financing Activities | 501,988,061.03 | -521,376,066.09 | | Net Increase in Cash and Cash Equivalents | 281,298,825.89 | 676,700,581.14 | Audit Report Notes The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited[44]