贤丰控股(002141) - 2022 Q3 - 季度财报

Major Financial Data Major Accounting Data and Financial Indicators In Q3 2022, the company's operating revenue decreased year-over-year, but net profit attributable to shareholders significantly increased due to non-recurring gains and losses; core business remained unprofitable after deducting non-recurring items, with total assets declining while shareholder equity rose Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3 2022) | Year-to-Date (YTD 2022) | YTD Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 268,000,000 | 867,000,000 | -22.57% | | Net Profit Attributable to Shareholders (yuan) | 225,000,000 | 249,000,000 | +1,281.93% | | Non-recurring Net Profit Attributable to Shareholders (yuan) | -40,000,000 | -73,000,000 | -719.86% | | Net Cash Flow from Operating Activities (yuan) | - | 74,000,000 | N/A | | Basic Earnings Per Share (yuan/share) | 0.1985 | 0.2191 | +1,277.99% | | Total Assets (Period-end, yuan) | 1,285,000,000 | 1,285,000,000 | -7.89% (vs. end of prior year) | | Total Equity Attributable to Shareholders (Period-end, yuan) | 1,085,000,000 | 1,085,000,000 | +34.96% (vs. end of prior year) | - The substantial increase in the company's net profit primarily stemmed from non-recurring gains and losses, while core business profitability significantly deteriorated, with non-recurring net profit sharply declining year-over-year[4] Non-recurring Gains and Losses Items and Amounts Year-to-date, the company's total non-recurring gains and losses amounted to 322 million yuan, primarily driven by 317 million yuan from non-current asset disposals, including equity and property sales Key Non-recurring Gains and Losses Items Year-to-Date | Item | Amount (yuan) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 317,308,216.08 | Primarily from sale of equity and land/property | | Reversal of impairment provisions for receivables subject to individual impairment testing | 28,331,000.00 | Huizhou New Energy asset disposal price exceeded original appraisal value, reversing estimated liabilities | | Government Grants Recognized in Current Profit/Loss | 3,186,971.76 | - | | Other Gains/Losses Meeting Definition of Non-recurring Items | -5,628,081.52 | Shenzhen New Energy ceased operations and entered bankruptcy liquidation | | Total | 322,023,520.66 | - | Analysis of Major Financial Indicator Changes and Reasons Significant financial indicator changes during the period primarily resulted from major asset restructuring, particularly the sale of Zhuhai Rongsheng equity, leading to balance sheet contraction, reduced related assets and liabilities, substantial cash inflows, investment gains, and increased financial expenses due to USD appreciation - The sale of subsidiary Zhuhai Rongsheng was the primary reason for the significant decline in most balance sheet items, including notes receivable, accounts receivable, inventories, intangible assets, and accounts payable[8][9] - Cash and cash equivalents at period-end significantly increased by 2217.38% compared to the beginning of the year, mainly due to proceeds from the sale of Zhuhai Rongsheng equity and repayments from Huizhou New Energy[8] - Year-to-date investment income surged by 4184.53% year-over-year, primarily from recognized investment gains on the sale of Hengqin International and Zhuhai Rongsheng equity[9] - Financial expenses dramatically increased by 494.44% year-over-year, mainly due to exchange losses on the company's USD-denominated foreign debt caused by the appreciation of the US dollar against the RMB during the reporting period[9] - Net cash received from the disposal of subsidiaries and other business units amounted to 525 million yuan, serving as the primary source of cash flow from investing activities and the company's overall net cash increase[10] Shareholder Information Shareholding Status As of the reporting period end, the company had 44,129 common shareholders, with the top two, Guangdong Xianfeng Holdings Co., Ltd. and Xianfeng Holdings Group Co., Ltd., holding over 40% combined, nearly all of which are pledged and frozen - The total number of common shareholders at the end of the reporting period was 44,129[12] Top Two Shareholders' Shareholding, Pledge, and Freeze Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | Number of Pledged Shares | Number of Frozen Shares | | :--- | :--- | :--- | :--- | :--- | | Guangdong Xianfeng Holdings Co., Ltd. | 26.03% | 295,358,647 | 292,200,000 | 295,358,647 | | Xianfeng Holdings Group Co., Ltd. | 14.03% | 159,152,000 | 114,000,000 | 159,152,000 | - Guangdong Xianfeng Holdings Co., Ltd. is a wholly-owned subsidiary of Xianfeng Holdings Group Co., Ltd., and they are parties acting in concert[13] Other Significant Matters Significant Matters Disclosed as Interim Reports During the Period During the reporting period, the company disclosed several key developments centered on asset disposal and business adjustments, including the dissolution and liquidation of controlled subsidiaries, completion of the Zhuhai Rongsheng asset sale transfer, and establishment of new business subsidiaries - The company announced on September 28, 2022, that the target assets of the significant asset sale had been transferred, marking the completion of the core transaction step for the sale of Zhuhai Rongsheng[14] - The company continued to advance the dissolution and liquidation of its controlled subsidiaries and disclosed relevant progress[14] - The company announced cash management using idle self-owned funds and the establishment of a subsidiary for asset leasing business, indicating its plans for asset revitalization and new business directions[14] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets were 1.285 billion yuan, down 7.89% from the year-start, with significant shifts including increased cash and financial assets from disposals, sharply reduced operating assets like receivables and inventories, a substantial decrease in total liabilities, and a 34.96% rise in equity attributable to the parent company Major Balance Sheet Item Changes (September 30, 2022 vs. December 31, 2021) | Item | Period-end Balance (yuan) | Beginning-of-year Balance (yuan) | Change Percentage | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 573,753,913.25 | 24,758,715.78 | +2217.38% | | Accounts Receivable | 20,623,658.53 | 220,228,507.59 | -90.64% | | Inventories | 33,775,014.49 | 194,641,223.96 | -82.65% | | Long-term Equity Investments | 59,287,594.93 | 85,393,660.39 | -30.57% | | Total Assets | 1,284,909,156.00 | 1,394,959,827.53 | -7.89% | | Accounts Payable | 27,115,197.27 | 89,272,868.09 | -69.63% | | Total Liabilities | 119,952,134.43 | 545,385,253.71 | -78.00% | | Total Equity Attributable to Parent Company Shareholders | 1,084,592,042.19 | 803,637,142.31 | +34.96% | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2022, the company's operating revenue was 867 million yuan, down 22.57% year-over-year; despite revenue decline and high total operating costs, significant investment income of 271 million yuan and asset disposal gains of 47 million yuan led to an operating profit of 257 million yuan and a net profit attributable to parent company shareholders of 249 million yuan, a 1281.93% increase Major Income Statement Items (Jan-Sep 2022 vs. Jan-Sep 2021) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | Change Percentage | | :--- | :--- | :--- | :--- | | Operating Revenue | 866,568,570.92 | 1,119,193,502.61 | -22.57% | | Total Operating Costs | 958,321,794.35 | 1,096,160,053.29 | -12.57% | | Investment Income | 270,898,815.74 | -6,632,305.76 | +4184.53% | | Gains on Asset Disposal | 46,768,281.41 | 834,423.78 | +5504.86% | | Operating Profit | 256,895,299.02 | 30,804,840.88 | +733.96% | | Net Profit Attributable to Parent Company Shareholders | 248,614,510.97 | 17,990,413.64 | +1281.93% | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2022, the company's cash and cash equivalents increased by 550 million yuan, significantly improving its cash position; operating activities generated 74 million yuan in net cash inflow, while investing activities yielded 484 million yuan in net cash, primarily from 525 million yuan received from subsidiary disposals, with financing activities showing a net outflow Major Cash Flow Statement Items (Jan-Sep 2022) | Item | Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 73,602,875.23 | | Net Cash Flow from Investing Activities | 483,546,518.35 | | Of which: Net Cash Received from Disposal of Subsidiaries | 525,092,970.18 | | Net Cash Flow from Financing Activities | -9,219,892.51 | | Net Increase in Cash and Cash Equivalents | 549,764,705.65 |