华峰化学(002064) - 2023 Q3 - 季度财报

Key Financial Data Key Accounting Data and Financial Indicators In Q3 2023, the company reported a 15.67% YoY revenue increase and a 2,583.92% surge in net profit attributable to parent company shareholders, while year-to-date figures showed a slight revenue decline and a 20.17% decrease in net profit Key Accounting Data and Financial Indicators | Indicator | Q3 2023 (CNY) | Q3 YoY Change | YTD 2023 (CNY) | YTD YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 7,059,850,370.51 | 15.67% | 19,681,919,713.06 | -1.30% | | Net Profit Attributable to Parent Company Shareholders | 569,893,076.20 | 2,583.92% | 1,928,532,126.31 | -20.17% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | 523,121,266.79 | 51,261.90% | 1,830,451,863.71 | -21.79% | | Basic Earnings Per Share (CNY/share) | 0.1148 | 2,569.77% | 0.39 | -22.00% | | Net Cash Flow from Operating Activities | - | - | 440,303,176.26 | -81.47% | | Period-End Indicator | Sept 30, 2023 (CNY) | Change from Prior Year-End | | | | Total Assets | 37,414,786,124.97 | 14.23% | | | | Total Equity Attributable to Parent Company Shareholders | 24,344,231,420.61 | 5.17% | | | Non-Recurring Gains and Losses and Amounts Year-to-date, the company's total non-recurring gains and losses amounted to CNY 98.08 million, primarily driven by government grants recognized in current profit/loss totaling CNY 119 million Non-Recurring Gains and Losses | Item | Current Period Amount (CNY) | YTD Amount (CNY) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 85,024.17 | -2,860,185.24 | | Government Grants Recognized in Current Profit/Loss | 54,079,998.55 | 119,228,061.69 | | Other Non-Operating Income/Expenses and Investment Income | 964,016.66 | -983,958.32 | | Less: Impact of Income Tax and Minority Interests | 8,357,230.03 | 17,303,655.53 | | Total | 46,771,809.41 | 98,080,262.60 | Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, significant changes occurred in the company's balance sheet items, with construction in progress decreasing 60.50% due to conversion to fixed assets, which increased 40.83%; short-term borrowings surged 132.99% to support operations and projects, while net cash flow from operating activities declined 81.47% due to reduced sales collections and increased procurement - Asset-side changes primarily resulted from the completion and transfer of construction in progress to fixed assets[6] - Construction in Progress: -60.50% - Fixed Assets: +40.83% - Liability-side changes primarily stemmed from financing structure adjustments and increased borrowings[6] - Short-term Borrowings: +132.99% - Non-Current Liabilities Due Within One Year: +1445.37% (primarily long-term borrowings reclassified) - Long-term Borrowings: -67.68% - Net cash flow from operating activities significantly decreased by 81.47% year-over-year, primarily due to reduced cash received from sales and increased cash paid for purchases[6] Shareholder Information Common Shareholder Holdings As of the reporting period end, the company had 69,606 common shareholders, with controlling shareholder Huafeng Group Co., Ltd. holding 45.10%; among the top ten shareholders, You Xiaoping, You Xiaohua, You Jinhuan, and Chen Linzhen have related party relationships, and multiple funds under Gaoyi Asset Management are also listed - The total number of common shareholders at the end of the reporting period was 69,606 accounts[7] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Huafeng Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 45.10% | 2,237,942,524 | | You Xiaoping | Domestic Natural Person | 8.03% | 398,522,485 | | You Xiaohua | Domestic Natural Person | 6.58% | 326,774,912 | | You Jinhuan | Domestic Natural Person | 6.52% | 323,763,106 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 2.96% | 146,944,423 | - Controlling shareholder Huafeng Group has related party relationships with individual shareholders You Xiaoping, You Xiaohua, You Jinhuan, and Chen Linzhen[8] Other Significant Matters Other Significant Matters During the reporting period, the company achieved three key milestones: its controlling subsidiary Chongqing Chemical's 1.15 million tons/year adipic acid expansion project (Phase VI) commenced trial operation, the company plans to donate CNY 500 million for education between 2023-2026, and it completed a share repurchase of Chongqing Spandex - The company's controlling subsidiary, Chongqing Chemical, commenced trial operation of its 1.15 million tons/year adipic acid expansion project (Phase VI) in September[9] - The company plans to donate CNY 500 million in installments from 2023 to 2026 to the Zhejiang Ruian Middle School Education Development Foundation for establishing a public school[9] - The company repurchased a 4.34% stake in Chongqing Spandex held by China Development Fund Co., Ltd[9] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2023, total assets reached CNY 37.41 billion, up 14.23% from the beginning of the year, primarily driven by non-current assets due to construction in progress conversion; total liabilities were CNY 13.07 billion, up 36.03% mainly from increased short-term borrowings, while total equity attributable to parent company shareholders grew 5.17% to CNY 24.34 billion Consolidated Balance Sheet | Item | Sept 30, 2023 (CNY) | Jan 1, 2023 (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 37,414,786,124.97 | 32,754,768,551.67 | +14.23% | | Total Current Assets | 22,439,837,383.76 | 18,668,150,633.09 | +20.20% | | Total Non-Current Assets | 14,974,948,741.21 | 14,086,617,918.58 | +6.31% | | Total Liabilities | 13,069,067,165.28 | 9,607,374,082.85 | +36.03% | | Total Current Liabilities | 11,387,635,385.62 | 6,964,214,979.67 | +63.52% | | Total Non-Current Liabilities | 1,681,431,779.66 | 2,643,159,103.18 | -36.39% | | Total Equity | 24,345,718,959.69 | 23,147,394,468.82 | +5.18% | | Total Equity Attributable to Parent Company Shareholders | 24,344,231,420.61 | 23,147,001,673.40 | +5.17% | Consolidated Income Statement (YTD) In the first three quarters of 2023, the company's operating revenue was CNY 19.68 billion, a slight 1.30% YoY decrease; operating profit declined 21.15% to CNY 2.16 billion due to higher cost growth, resulting in net profit attributable to parent company shareholders of CNY 1.93 billion, down 20.17% YoY, with basic EPS at CNY 0.39 Consolidated Income Statement (YTD) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 19,681,919,713.06 | 19,940,844,772.21 | -1.30% | | Total Operating Costs | 17,675,954,352.54 | 17,237,156,961.82 | +2.55% | | Operating Profit | 2,163,466,485.58 | 2,743,715,663.07 | -21.15% | | Total Profit | 2,130,527,475.65 | 2,729,680,014.61 | -21.95% | | Net Profit Attributable to Parent Company Shareholders | 1,928,532,126.31 | 2,415,844,870.96 | -20.17% | | Basic Earnings Per Share (CNY/share) | 0.39 | 0.50 | -22.00% | Consolidated Cash Flow Statement (YTD) In the first three quarters of 2023, net cash flow from operating activities was CNY 440 million, a significant 81.47% YoY decrease; investing activities resulted in a net outflow of CNY 1.26 billion, primarily for fixed asset acquisition, while financing activities generated a net inflow of CNY 1.85 billion from new borrowings, with cash and cash equivalents at period-end totaling CNY 10.70 billion Consolidated Cash Flow Statement (YTD) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 440,303,176.26 | 2,376,141,773.89 | -81.47% | | Net Cash Flow from Investing Activities | -1,263,503,364.39 | -1,634,282,685.38 | Not Applicable | | Net Cash Flow from Financing Activities | 1,848,206,021.79 | 2,594,907,779.55 | -28.77% | | Net Increase in Cash and Cash Equivalents | 1,002,400,626.66 | 3,345,311,333.13 | -70.04% |