东方智造(002175) - 2019 Q3 - 季度财报

Important Notice The company's management ensures the truthfulness, accuracy, and completeness of this quarterly report and assumes legal responsibility Board of Directors' Statement The company's Board of Directors, Supervisory Board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility for it - Company management guarantees the report's content is true, accurate, and complete, free from false records, misleading statements, or major omissions[5] - Company head Zhang Qun, chief accountant Zhang Qun, and head of accounting department Jiang Haiyun jointly declare the truthfulness, accuracy, and completeness of the financial statements[6] Company Profile This section provides an overview of the company's key financial performance and shareholder structure Key Accounting Data and Financial Indicators The company experienced a 10.38% decrease in total assets, net assets turned significantly negative, and operating cash flow improved by 118.45% Key Accounting Data and Financial Indicators | Indicator | End of Current Period / Current Period | Year-to-Date | Year-on-Year / Change from Beginning of Year | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 1,042,399,502.37 | - | -10.38% | | Net Assets Attributable to Shareholders (Yuan) | -71,456,478.96 | - | -124.64% | | Operating Revenue (Yuan) | 57,180,964.03 | 164,658,205.25 | -5.46% (YTD) | | Net Profit Attributable to Shareholders (Yuan) | -33,425,153.50 | -89,066,911.67 | 15.86% (YTD) | | Net Profit Excluding Non-recurring Items (Yuan) | -33,988,024.42 | -91,602,083.73 | 13.45% (YTD) | | Net Cash Flow from Operating Activities (Yuan) | 9,415,575.43 | 4,356,264.14 | 118.45% (YTD) | | Basic Earnings Per Share (Yuan/share) | -0.0443 | -0.1182 | 15.84% (YTD) | - From the beginning of the year to the end of the reporting period, the company's total non-recurring gains and losses amounted to 2.535 million Yuan, primarily from government subsidies and disposal gains/losses of non-current assets[10][11] Shareholder Information The company had 71,211 common shareholders, with the largest shareholder's shares largely pledged and frozen, and a concerted action relationship formed - At the end of the reporting period, the company had 71,211 common shareholders[13] Top Ten Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares | Pledged/Frozen Shares | | :--- | :--- | :--- | :--- | | Peng Peng | 12.23% | 92,173,383 | Pledged 65,319,990; Frozen 92,173,383 | | Nantong Dongbai Culture Development Partnership | 5.39% | 40,592,469 | Pledged 19,071,428 | | Nantong Fuhai Enterprise Management Partnership | 4.72% | 35,592,469 | Pledged 35,592,469 | | Shanghai Jingguan Venture Capital Partnership | 2.53% | 19,073,360 | Pledged 18,009,600 | | Shi Li | 1.68% | 12,648,117 | Pledged 12,646,876; Frozen 1,627,253 | - Shareholders Peng Peng and Shi Li have signed a voting rights entrustment agreement, delegating their voting rights to Shandong Xingtan Network Technology Co., Ltd., forming a concerted action relationship[15] Significant Matters This section details major financial changes, significant event progress, and other important disclosures during the reporting period Analysis of Financial Data Changes The company experienced significant fluctuations in several financial indicators, including a 58.33% decrease in cash due to loan repayments, a 103.28% increase in construction in progress from equipment upgrades, and a 3658.30% surge in investment income from equity method accounting, while operating cash flow significantly improved Balance Sheet Key Item Changes and Reasons | Statement Item | Change from Beginning of Year (%) | Reason for Change | | :--- | :--- | :--- | | Cash and Bank Balances | -58.33 | Primarily due to repayment of borrowings, interest payments, working capital replenishment, and maturity payments of notes payable | | Construction in Progress | 103.28 | Primarily due to transfer from fixed assets for machine tool equipment upgrades | | Notes Payable | -100.00 | Due to maturity payments of notes payable during the reporting period | | Interest Payable | 131.93 | Due to increased loan interest payable during the reporting period | | Non-current Liabilities Due Within One Year | 100.00 | Due to reclassification of long-term borrowings maturing within one year | Income Statement and Cash Flow Statement Key Item Changes and Reasons | Statement Item | Change from Prior Year (%) | Reason for Change | | :--- | :--- | :--- | | Administrative Expenses | -38.19 | Primarily due to reduced operations in the cultural media segment during the reporting period | | Investment Income | 3658.30 | Primarily due to recognition of long-term equity investment income from associates accounted for using the equity method during the reporting period | | Net Cash Flow from Operating Activities | 118.45 | Primarily due to reduced payments for employee salaries and expenses during the reporting period | - Starting from the reporting period, the company adopted new financial instrument standards, reclassifying bad debt provisions from 'Asset Impairment Losses' to 'Credit Impairment Losses' and 'Available-for-Sale Financial Assets' to 'Other Equity Instruments Investments'[18] Progress of Significant Matters During the reporting period, the company underwent significant events including management changes, shareholder Peng Peng's stock pledge disputes and potential judicial auction, unresolved debt, and regulatory warnings and investigation notices from the Guangxi and China Securities Regulatory Commissions - The company underwent high-level personnel changes, appointing new Chief Financial Officer, Board Secretary, and Deputy General Manager, and amended its Articles of Association[19] - Shareholder Peng Peng is involved in multiple stock pledge repurchase disputes with Shenwan Hongyuan and Guolian Securities, with his shares subject to sequential freezing and potential judicial auction[19][20] - The company announced on August 31, 2019, that it had outstanding debts that could not be repaid upon maturity[20] - The company received a warning letter from the Guangxi Securities Regulatory Bureau on August 24, 2019, and an investigation notice from the China Securities Regulatory Commission on October 17, 2019[20][21] Other Significant Matters During the reporting period, the company had no overdue unfulfilled commitments, no 2019 performance forecasts, no financial assets measured at fair value, no illegal external guarantees, no non-operating fund occupation by controlling shareholders or related parties, and no entrusted wealth management activities - During the reporting period, the company had no overdue unfulfilled commitments[22] - The company had no illegal external guarantees, no occupation of funds by controlling shareholders, and no entrusted wealth management activities during the reporting period[22][23][24] Financial Statements This section presents the company's core financial statements for the third quarter of 2019, including consolidated and parent company balance sheets, income statements, and cash flow statements, reflecting the financial position, operating results, and cash flows at the end of the reporting period Financial Statements This section presents the company's core financial statements for the third quarter of 2019, including consolidated and parent company balance sheets, income statements, and cash flow statements, reflecting the financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet As of September 30, 2019, the company's total assets were 1.036 billion Yuan, total liabilities were 1.043 billion Yuan, and equity attributable to parent company owners was -71.456 million Yuan, indicating insolvency Consolidated Balance Sheet Summary (September 30, 2019) | Item | Amount (Yuan) | | :--- | :--- | | Assets | | | Total Current Assets | 433,911,868.91 | | Total Non-current Assets | 601,877,633.46 | | Total Assets | 1,035,789,502.37 | | Liabilities | | | Total Current Liabilities | 944,025,656.56 | | Total Non-current Liabilities | 98,895,103.46 | | Total Liabilities | 1,042,920,760.02 | | Owner's Equity | | | Total Owner's Equity Attributable to Parent Company | -71,456,478.96 | | Minority Interests | 64,325,221.31 | | Total Owner's Equity | -7,131,257.65 | Parent Company Balance Sheet As of September 30, 2019, the parent company's total assets were 615 million Yuan, total liabilities were 459 million Yuan, and total owner's equity was 156 million Yuan Parent Company Balance Sheet Summary (September 30, 2019) | Item | Amount (Yuan) | | :--- | :--- | | Total Assets | 614,798,244.21 | | Total Liabilities | 458,642,503.66 | | Total Owner's Equity | 156,155,740.55 | Consolidated Income Statement (Current Period) In Q3 2019, the company achieved operating revenue of 57.181 million Yuan, a 16.48% year-on-year decrease, with net loss attributable to parent company owners of -33.425 million Yuan, narrowing the loss by 9.10% year-on-year Consolidated Income Statement Summary (Q3 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 57,180,964.03 | 68,464,586.84 | | Operating Profit | -40,824,372.21 | -42,470,802.08 | | Total Profit | -40,852,381.51 | -42,517,175.94 | | Net Profit | -35,519,769.15 | -40,256,086.83 | | Net Profit Attributable to Parent Company Owners | -33,425,153.50 | -36,772,275.53 | Parent Company Income Statement (Current Period) In Q3 2019, the parent company's operating revenue was only 59,427 Yuan, a sharp 98.4% year-on-year decrease, with a net loss of -27.122 million Yuan, expanding the loss by 26.4% year-on-year Parent Company Income Statement Summary (Q3 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 59,427.03 | 3,761,819.78 | | Operating Profit | -33,792,878.91 | -24,908,362.50 | | Net Profit | -27,121,879.58 | -21,451,454.75 | Consolidated Income Statement (Year-to-Date) For the first three quarters of 2019, the company's cumulative operating revenue reached 165 million Yuan, a 5.46% year-on-year decrease, with net loss attributable to parent company owners of -89.067 million Yuan, narrowing the loss by 15.86% year-on-year Consolidated Income Statement Summary (First Three Quarters 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 164,658,205.25 | 174,163,772.60 | | Operating Profit | -91,202,654.90 | -115,816,073.78 | | Net Profit | -95,193,263.17 | -114,957,704.97 | | Net Profit Attributable to Parent Company Owners | -89,066,911.67 | -105,851,161.67 | Parent Company Income Statement (Year-to-Date) For the first three quarters of 2019, the parent company's cumulative operating revenue was only 70,000 Yuan, a sharp 99.3% year-on-year decrease, with a net loss of -52.089 million Yuan, expanding the loss by 17.2% year-on-year Parent Company Income Statement Summary (First Three Quarters 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 69,613.26 | 10,309,231.25 | | Operating Profit | -51,954,647.10 | -47,462,444.43 | | Net Profit | -52,088,863.33 | -44,428,741.31 | Consolidated Cash Flow Statement (Year-to-Date) For the first three quarters of 2019, net cash flow from operating activities was 4.356 million Yuan, a significant improvement from -23.612 million Yuan last year, with net cash outflows of 31.251 million Yuan from investing and 35.419 million Yuan from financing activities, resulting in an ending cash and cash equivalents balance of 35.374 million Yuan Consolidated Cash Flow Statement Summary (First Three Quarters 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 4,356,264.14 | -23,612,206.17 | | Net Cash Flow from Investing Activities | -31,250,809.59 | -39,748,938.45 | | Net Cash Flow from Financing Activities | -35,419,069.15 | -24,588,250.84 | | Net Increase in Cash and Cash Equivalents | -62,313,960.91 | -87,946,311.67 | Parent Company Cash Flow Statement (Year-to-Date) For the first three quarters of 2019, the parent company's net cash flow from operating activities was -16.216 million Yuan, net cash outflow from investing activities was 657,000 Yuan, and net cash inflow from financing activities was 13.232 million Yuan, with an ending cash and cash equivalents balance of 1.197 million Yuan Parent Company Cash Flow Statement Summary (First Three Quarters 2019) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,216,313.57 | -3,014,755.20 | | Net Cash Flow from Investing Activities | -656,600.00 | 3,563,000.00 | | Net Cash Flow from Financing Activities | 13,232,059.28 | -33,960,097.41 | | Net Increase in Cash and Cash Equivalents | -3,641,201.96 | -33,410,756.19 | Notes to Financial Statement Adjustments Effective January 1, 2019, the company adopted new financial instrument standards, reclassifying 'Available-for-Sale Financial Assets' to 'Other Equity Instruments Investments' in the opening financial statements, with no impact on opening net assets or net profit - The company adopted new financial instrument standards from 2019, adjusting relevant items in the opening financial statements[59] Consolidated Balance Sheet Key Adjustments | Item | Before Adjustment (December 31, 2018) | After Adjustment (January 1, 2019) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Available-for-Sale Financial Assets | 4,758,900.00 | Not Applicable | -4,758,900.00 | | Other Equity Instruments Investments | Not Applicable | 4,758,900.00 | 4,758,900.00 | Audit Report The company's Q3 2019 report is unaudited - The company's third-quarter report is unaudited[68]