兴化股份(002109) - 2022 Q3 - 季度财报

Major Financial Data Major Accounting Data and Financial Indicators In Q3 2022, the company saw significant declines in operating revenue and net profit attributable to parent company shareholders, though year-to-date cumulative revenue grew and net profit remained stable, with total assets and shareholder equity showing steady growth from the year's start Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3) (CNY) | YoY Change in Current Period (%) | Year-to-Date (YTD) (CNY) | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 673,169,833.77 | -18.92% | 2,554,718,470.21 | 15.26% | | Net Profit Attributable to Shareholders of the Listed Company | 42,075,621.77 | -78.27% | 477,566,517.77 | -1.47% | | Net Cash Flow from Operating Activities | — | — | 304,651,496.13 | -49.91% | | Basic Earnings Per Share (EPS) (CNY/share) | 0.04 | -78.25% | 0.4536 | -1.46% | | Weighted Average Return on Net Assets (ROE) | 0.88% | -3.61% | 10.14% | -1.50% | Key Balance Sheet Indicators at Period End | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 5,095,424,794.00 | 4,829,564,528.25 | 5.50% | | Total Equity Attributable to Shareholders of the Listed Company | 4,788,825,927.99 | 4,464,608,376.63 | 7.26% | Non-recurring Gains and Losses and Amounts Non-recurring gains and losses primarily from government grants totaled CNY 0.40 million year-to-date after tax, having a negligible impact on the company's overall net profit Year-to-Date Non-recurring Gains and Losses Items | Item | Year-to-Date Amount (CNY) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 1,110,016.80 | | Other Non-operating Income and Expenses Excluding the Above | -535,840.87 | | Less: Income Tax Impact | 171,482.80 | | Total | 402,693.13 | Analysis of Major Financial Indicator Changes Several financial indicators fluctuated significantly, with prepayments surging 907.93%, administrative expenses rising 39.11%, and operating cash flow decreasing 49.91% year-on-year, reflecting changes in procurement and cost management - Prepayments surged by 907.93% from the beginning of the period, primarily due to unsettled advances for materials at period-end[8] - Administrative expenses increased by 39.11% compared to the prior year, mainly due to increased employee compensation during the reporting period[11] - Net cash flow from operating activities decreased by 49.91% year-on-year, primarily due to increased cash purchases of raw materials influenced by market supply and demand during the reporting period[13] - Taxes payable decreased by 51.49% from the beginning of the period, mainly because reduced revenue in September due to equipment maintenance and overhaul led to a corresponding decrease in accrued taxes[9] Shareholder Information Shareholding Status of Shareholders As of period-end, the company had 33,797 common shareholders, with a highly concentrated equity structure where the top two shareholders, acting in concert, held a combined 69.37% stake - As of the end of the reporting period, the company had a total of 33,797 common shareholders[15] Shareholding Status of Top Two Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Related Party Relationship | | :--- | :--- | :--- | :--- | | Shaanxi Yanchang Petroleum (Group) Co., Ltd. | State-owned Legal Entity | 48.24% | Controlling Shareholder | | Shaanxi Xinghua Group Co., Ltd. | State-owned Legal Entity | 21.13% | Wholly-owned subsidiary of the controlling shareholder, forming a concerted party | Other Significant Matters Progress of Non-public Issuance of Shares The company's 2020 non-public A-share issuance (refinancing) is ongoing, with a second plan revision and CSRC feedback received in Q3 2022, indicating continued approval processes - The company conducted a second revision of its 2020 non-public issuance of A-shares plan in July 2022[17] - On September 19, 2022, the company disclosed receiving the 'Second Feedback Notice on Administrative Licensing Project Review' from the China Securities Regulatory Commission (CSRC), indicating that the refinancing matter is still under review[18] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets increased 5.50% to CNY 5.10 billion, total liabilities decreased 16.00% to CNY 306.60 million, and total equity attributable to parent company shareholders grew 7.26% to CNY 4.79 billion, indicating a robust financial structure Key Balance Sheet Item Changes | Item | September 30, 2022 (CNY) | January 1, 2022 (CNY) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,682,585,948.94 | 1,546,762,767.71 | +8.78% | | Fixed Assets | 2,433,950,249.47 | 2,567,872,005.41 | -5.21% | | Total Assets | 5,095,424,794.00 | 4,829,564,528.25 | +5.50% | | Total Liabilities | 306,598,866.01 | 364,956,151.62 | -16.00% | | Total Equity Attributable to Parent Company Shareholders | 4,788,825,927.99 | 4,464,608,376.63 | +7.26% | Consolidated Income Statement In the first three quarters of 2022, operating revenue grew 15.26% to CNY 2.55 billion, but operating costs and administrative expenses increased faster, leading to a slight 1.47% year-on-year decrease in net profit attributable to parent company shareholders to CNY 477.57 million, reflecting cost pressures Key Income Statement Items Year-to-Date | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,554,718,470.21 | 2,216,415,351.78 | +15.26% | | Operating Costs | 1,871,087,763.16 | 1,544,523,003.65 | +21.14% | | Administrative Expenses | 86,525,317.61 | 62,198,615.28 | +39.11% | | Net Profit Attributable to Parent Company Shareholders | 477,566,517.77 | 484,692,253.19 | -1.47% | Consolidated Cash Flow Statement In the first three quarters of 2022, net cash flow from operating activities significantly decreased by 49.91% to CNY 304.65 million due to increased cash payments for goods and services, while net cash outflow from financing activities was CNY 157.94 million, primarily for dividends, with cash and cash equivalents at CNY 1.68 billion Key Cash Flow Statement Items Year-to-Date | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 304,651,496.13 | 608,182,806.85 | -49.91% | | Net Cash Flow from Investing Activities | -10,886,596.55 | -9,134,832.05 | -19.18% | | Net Cash Flow from Financing Activities | -157,941,718.35 | -201,282,916.67 | +21.53% | | Net Increase in Cash and Cash Equivalents | 135,823,181.23 | 397,765,058.13 | -65.86% | Audit Status The company's Q3 2022 report is unaudited - The company's third-quarter report is unaudited[28]