东方智造(002175) - 2023 Q3 - 季度财报

Important Notice The report emphasizes the board, supervisory board, and senior management guarantee the quarterly report's truthfulness, accuracy, and completeness, with financial information verified by key personnel, and confirms the report is unaudited - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[3] - The company's head, the person in charge of accounting work, and the head of the accounting department declare that the financial information is true, accurate, and complete[3] - This third-quarter report is unaudited[4][25] Key Financial Data This section outlines the company's Q3 2023 financial performance and period-end financial position, covering key accounting data, non-recurring items, and their impact on net profit, with analysis of financial indicator changes Key Accounting Data and Financial Indicators The company experienced a year-on-year decline in Q3 operating revenue and net profit, while year-to-date net profit increased despite a revenue decrease, alongside negative operating cash flow and growth in total assets and equity | Indicator | Current Period (RMB) | YoY Change in Current Period | Year-to-Date (RMB) | YoY Change Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 60,525,632.67 | -18.51% | 188,170,991.31 | -11.96% | | Net Profit Attributable to Shareholders of Listed Companies | 7,620,051.76 | -49.35% | 50,701,127.16 | 19.12% | | Net Profit Attributable to Shareholders of Listed Companies (Excluding Non-Recurring Gains/Losses) | 3,006,328.18 | -79.07% | 8,283,046.80 | -76.26% | | Net Cash Flow from Operating Activities | — | — | -12,546,544.43 | -150.92% | | Basic Earnings Per Share (RMB/share) | 0.0060 | -49.35% | 0.0397 | 19.22% | | Diluted Earnings Per Share (RMB/share) | 0.0060 | -49.35% | 0.0397 | 19.22% | | Weighted Average Return on Net Assets | 1.31% | -2.77% | 9.38% | -2.71% | | Period-End Indicator | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End | | | Total Assets | 690,542,643.50 | 660,400,432.78 | 4.56% | | | Total Equity Attributable to Shareholders of Listed Companies | 586,612,074.62 | 488,891,615.34 | 19.99% | | Non-Recurring Gains and Losses and Amounts Non-recurring gains and losses, primarily from non-current asset disposal, government subsidies, and debt restructuring (debt-for-equity swap), significantly boosted net profit during the reporting period | Item | Amount for Current Period (RMB) | Amount Year-to-Date (RMB) | Description | | :--- | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 4,387,165.69 | 4,400,428.02 | Sale of idle properties | | Government Grants Recognized in Current Profit/Loss | 230,067.93 | 1,421,207.46 | | | Debt Restructuring Gains/Losses | | 36,713,720.71 | Debt restructuring gain from debt-for-equity swap as per the "Restructuring Plan" | | Other Non-Operating Income and Expenses | -119.23 | 2,564.67 | | | Less: Income Tax Impact | 2,835.00 | 119,309.99 | | | Impact on Minority Interests (After Tax) | 555.81 | 530.51 | | | Total | 4,613,723.58 | 42,418,080.36 | | - The company does not classify non-recurring gains and losses as recurring gains and losses[8] Analysis of Changes in Key Accounting Data and Financial Indicators This section analyzes significant changes in financial indicators, primarily driven by increased prepayments, leased properties, R&D, and acquisitions, alongside reduced employee compensation, taxes, and provisions, with financial expenses, investment, and asset disposal gains also notably impacted | Statement Item | Period-End (or Current Year) Amount (RMB) | Period-Beginning (or Prior Year) Amount (RMB) | Change Rate (%) | Analysis of Change Reasons | | :--- | :--- | :--- | :--- | :--- | | Prepayments | 21,370,492.21 | 4,436,326.21 | 381.72 | Mainly due to advance payments for renovation projects and goods | | Other Receivables | 4,375,279.39 | 653,359.87 | 569.66 | Mainly due to payment of housing lease deposits during the reporting period | | Contract Assets | 183,733.26 | 1,009,174.64 | -81.79 | Due to revenue recognition from integrated industrial park management business as per contract, not yet invoiced and settled with customers | | Other Current Assets | 1,547,489.97 | 601,724.04 | 157.18 | Mainly due to an increase in input VAT to be deducted during the reporting period | | Long-Term Equity Investments | 808,488.49 | 0.00 | 100.00 | Due to new investments during the reporting period | | Right-of-Use Assets | 29,418,001.53 | 2,187,116.33 | 1,245.06 | Due to an increase in leased properties during the reporting period | | Development Expenditures | 11,053,386.74 | 3,338,440.88 | 231.09 | Mainly due to new R&D projects and increased R&D expenditure during the reporting period | | Goodwill | 1,835,896.30 | - | 100.00 | Due to the acquisition of a subsidiary during the reporting period | | Employee Compensation Payable | 1,104,795.89 | 7,557,051.17 | -85.38 | Mainly due to payment of prior year's salaries during the reporting period | | Taxes Payable | 5,389,418.97 | 11,199,341.69 | -51.88 | Mainly due to payment of deferred taxes from prior years during the reporting period | | Other Payables | 9,806,249.00 | 7,114,116.45 | 37.84 | Mainly due to new borrowings during the reporting period | | Non-Current Liabilities Due Within One Year | 7,905,300.01 | 666,067.16 | 1,086.86 | Due to an increase in lease liabilities due within one year during the reporting period | | Lease Liabilities | 23,579,509.18 | 1,391,907.95 | 1,594.04 | Due to an increase in leased properties during the reporting period | | Provisions | 1,833,364.15 | 86,464,959.14 | -97.88 | Mainly due to the company fulfilling debt repayment obligations as per court judgments during the reporting period | | Treasury Stock | 45,496,625.12 | 92,515,957.24 | -50.82 | Due to debt-to-equity swap during the reporting period | | Financial Expenses | 533,632.71 | -2,244,988.17 | 123.77 | Mainly due to increased interest expenses on lease liabilities and the impact of USD exchange rate fluctuations | | Other Income | 1,421,207.46 | 4,535,827.13 | -68.67 | Due to a decrease in government grants received during the reporting period | | Investment Income | 36,622,210.20 | 2,138,836.55 | 1,612.25 | Mainly due to the impact of debt restructuring gains during the reporting period | | Asset Disposal Gains | 4,400,427.02 | -156,424.33 | 2,913.13 | Mainly due to gains from disposal of idle properties during the reporting period | | Non-Operating Income | 38,461.50 | 1,151,130.28 | -96.66 | Mainly due to non-payable accounts in the same period last year | | Non-Operating Expenses | 35,896.83 | 79,529.70 | -54.86 | Mainly due to the impact of external donation expenses | | Income Tax Expense | 4,086,253.31 | 6,263,684.55 | -34.76 | Mainly due to a decrease in taxable income and deferred income tax expenses during the reporting period | | Net Cash Flow from Operating Activities | -12,546,544.43 | 24,641,606.92 | -150.92 | Mainly due to increased procurement payments, payment of deferred taxes from prior years, receipt of VAT credit refunds in the same period last year, and sales collection impacts during the reporting period | | Net Cash Flow from Investing Activities | -20,791,922.79 | -7,623,481.90 | -172.74 | Mainly due to payment for housing renovation projects during the reporting period | | Net Cash Flow from Financing Activities | -3,898,820.65 | -29,299,787.62 | 86.69 | Mainly due to debt repayment in the same period last year | Shareholder Information This section details the total number of common shareholders, the top ten common shareholders' holdings, including pledge and freeze status, and the concerted action relationship of controlling shareholders and actual controllers Total Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 69,374 common shareholders, with the top ten including the controlling shareholder and others with pledged or frozen shares, and identifies the co-actual controllers - The total number of common shareholders at the end of the reporting period was 69,374[12] | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | | Kexiang High-Tech Development Co., Ltd. | Domestic Non-State-Owned Legal Person | 19.21% | 245,210,042.00 | Pledged 123,000,000 | | Peng Peng | Domestic Natural Person | 4.53% | 57,853,383.00 | Pledged 30,999,990, Frozen 57,853,383 | | Huishang Bank Co., Ltd. | State-Owned Legal Person | 3.47% | 44,266,562.00 | None | | Nantong Dongbai Cultural Development Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 3.18% | 40,592,469.00 | Pledged 34,771,428, Frozen 1,800,000 | | AVIC Trust Co., Ltd. - AVIC Trust · Tianqi [2016] No. 178 Cultural Media Equity Investment Collective Fund Trust Plan | Other | 1.26% | 16,102,511.00 | None | | Oriental Times Network Media Co., Ltd. Bankrupt Enterprise Property Disposal Special Account | Domestic Non-State-Owned Legal Person | 1.22% | 15,581,036.00 | None | | Shi Li | Domestic Natural Person | 0.99% | 12,648,117.00 | Pledged 12,646,876, Frozen 1,241 | | Shenzhen China Merchants Technology Investment Co., Ltd. | State-Owned Legal Person | 0.71% | 9,048,000.00 | Frozen 9,048,000 | | Gong Ming | Domestic Natural Person | 0.51% | 6,564,700.00 | None | | Chen Zhi | Domestic Natural Person | 0.41% | 5,250,100.00 | None | - Kexiang High-Tech is the controlling shareholder, and Song Xiaozhong and Fan Meirong jointly control 22.39% of the company's shares through Kexiang High-Tech and Dongbai Culture, acting as co-actual controllers[13] Preferred Shareholder Information The company has no preferred shareholders - The company has no preferred shareholders[14] Other Important Matters During the reporting period, the company adjusted its General Manager position, acquired 100% equity in Mingke (Shandong) Intelligent Manufacturing Co., Ltd. with capital increase, and expanded its business scope, reflecting strategic initiatives in management, business, and strategy - The company disclosed an announcement on April 21, 2023, regarding the adjustment of the General Manager's position and the appointment of a new General Manager[14] - The company disclosed an announcement on May 13, 2023, regarding the acquisition of 100% equity in Mingke (Shandong) Intelligent Manufacturing Co., Ltd. and capital increase[14] - The company disclosed an announcement on August 29, 2023, regarding the change in its business scope and amendment of the "Articles of Association"[14] Quarterly Financial Statements This section presents Guangxi Dongfang Zhizao Technology Co., Ltd.'s consolidated balance sheet, income statement, and cash flow statement as of September 30, 2023, detailing financial position, operating results, and cash flow, noting no new accounting standard adjustments and an unaudited status Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement as of September 30, 2023, providing core financial performance data Consolidated Balance Sheet As of September 30, 2023, total assets grew by 4.56%, driven by non-current asset increases, while total liabilities significantly decreased due to reduced provisions, and equity attributable to the parent company surged by 19.99% | Item | September 30, 2023 (RMB) | January 1, 2023 (RMB) | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 87,057,385.84 | 124,205,325.26 | -30.07% | | Total Current Assets | 268,951,138.65 | 271,049,179.69 | -0.77% | | Total Non-Current Assets | 421,591,504.85 | 389,351,253.09 | 8.28% | | Total Assets | 690,542,643.50 | 660,400,432.78 | 4.56% | | Total Current Liabilities | 64,009,259.45 | 67,727,450.99 | -5.50% | | Total Non-Current Liabilities | 41,446,260.18 | 104,524,083.48 | -60.34% | | Total Liabilities | 105,455,519.63 | 172,251,534.47 | -38.78% | | Total Equity Attributable to Owners of the Parent Company | 586,612,074.62 | 488,891,615.34 | 19.99% | | Minority Interests | -1,524,950.75 | -742,717.03 | -105.33% | | Total Equity | 585,087,123.87 | 488,148,898.31 | 19.86% | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, year-to-date total operating revenue decreased by 11.96%, yet operating profit and total profit grew year-on-year, driven by significant increases in investment and asset disposal gains, with net profit and net profit attributable to parent company shareholders rising by 18.52% and 19.12% respectively | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 188,170,991.31 | 213,733,873.70 | -11.96% | | Total Operating Costs | 175,534,421.76 | 171,118,169.07 | 2.58% | | Financial Expenses | 533,632.71 | -2,244,988.17 | 123.77% | | Other Income | 1,421,207.46 | 4,535,827.13 | -68.67% | | Investment Income | 36,622,210.20 | 2,138,836.55 | 1,612.25% | | Asset Disposal Gains | 4,400,427.02 | -156,424.33 | 2,913.13% | | Operating Profit | 54,002,582.08 | 47,308,452.11 | 14.15% | | Total Profit | 54,005,146.75 | 48,380,052.69 | 11.63% | | Income Tax Expense | 4,086,253.31 | 6,263,684.55 | -34.76% | | Net Profit | 49,918,893.44 | 42,116,368.14 | 18.52% | | Net Profit Attributable to Owners of the Parent Company | 50,701,127.16 | 42,564,301.64 | 19.12% | | Basic Earnings Per Share | 0.0397 | 0.0333 | 19.22% | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, year-to-date net cash flow from operating activities significantly decreased by 150.92% to negative, driven by increased procurement and tax payments, while investing outflows rose due to renovation costs, and financing outflows decreased due to lower debt repayments compared to the prior year | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change | | :--- | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 200,775,170.07 | 213,472,199.31 | -5.95% | | Subtotal of Cash Outflows from Operating Activities | 213,321,714.50 | 188,830,592.39 | 13.00% | | Net Cash Flow from Operating Activities | -12,546,544.43 | 24,641,606.92 | -150.92% | | Subtotal of Cash Inflows from Investing Activities | 4,687,001.00 | 591,600.00 | 692.29% | | Subtotal of Cash Outflows from Investing Activities | 25,478,923.79 | 8,215,081.90 | 210.15% | | Net Cash Flow from Investing Activities | -20,791,922.79 | -7,623,481.90 | -172.74% | | Subtotal of Cash Inflows from Financing Activities | 0.00 | 18,121,930.24 | -100.00% | | Subtotal of Cash Outflows from Financing Activities | 3,898,820.65 | 47,421,717.86 | -91.78% | | Net Cash Flow from Financing Activities | -3,898,820.65 | -29,299,787.62 | 86.69% | | Net Increase in Cash and Cash Equivalents | -37,147,939.42 | -10,051,492.01 | -269.58% | | Cash and Cash Equivalents at Period-End | 87,057,385.84 | 67,090,720.04 | 29.76% | Adjustments for New Accounting Standards The company adopted new accounting standards in 2023 but made no adjustments to the financial statements at the beginning of that year - The company did not adjust relevant items in the financial statements at the beginning of the year of first adoption of new accounting standards starting from 2023[25] Audit Report This third-quarter report is unaudited - The company's third-quarter report is unaudited[25]