融捷股份(002192) - 2020 Q3 - 季度财报

Important Notice The company's management assures the authenticity and completeness of the quarterly report, taking full legal responsibility Declaration of Report Authenticity The company's management affirms the report's truthfulness and completeness, assuming full legal responsibility - Management guarantees the report's truthfulness, accuracy, and completeness, assuming legal responsibility[5] - The company's head, chief accountant, and accounting department head all affirm the financial statements' truthfulness, accuracy, and completeness[6] Company Overview This section provides an overview of the company's key financial performance and shareholder structure for the reporting period Key Accounting Data and Financial Indicators The company achieved a significant turnaround in Q1-Q3 2020, with net profit attributable to shareholders increasing by 108.26% to RMB 3.73 million, largely due to non-recurring gains Key Financial Performance | Indicator | Year-Beginning to End of Reporting Period (2020.1.1-9.30) | Change from Prior Year Same Period | Current Reporting Period (2020.7.1-9.30) | Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 189,570,836.66 | -2.06% | 68,138,508.58 | 22.06% | | Net Profit Attributable to Shareholders (RMB) | 3,730,490.40 | 108.26% | 1,060,760.65 | 105.54% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 316,854.58 | 100.69% | -376,251.58 | 98.03% | | Net Cash Flow from Operating Activities (RMB) | -17,531,297.43 | 66.95% | 745,559.19 | 110.48% | | Basic Earnings Per Share (RMB/share) | 0.0144 | 108.28% | 0.0041 | 105.56% | | Weighted Average Return on Net Assets | 0.68% | Increased 6.78 percentage points | 0.19% | Increased 2.82 percentage points | Non-recurring Gains and Losses | Item | Amount from Year-Beginning to End of Reporting Period (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -10,772.56 | Gains/losses from disposal of fixed assets | | Government Subsidies Recognized in Current Profit/Loss | 4,793,315.01 | Received government stability subsidies and Rongda Lithium subsidies | | Other Non-operating Income and Expenses | -142,134.58 | Rongda Lithium's external donations during the epidemic | | Total Non-recurring Gains and Losses | 3,413,635.82 | - | Shareholder Information As of period end, the company had 18,402 common shareholders; the largest shareholder holds 23.82% (partially pledged) and acts in concert with a top-ten shareholder - The total number of common shareholders at the end of the reporting period was 18,402[11] Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Share Status | | :--- | :--- | :--- | :--- | | Rongjie Investment Holding Group Co., Ltd. | 23.82% | 61,857,992 | Pledged 43,260,000 | | Ke Rongqing | 2.77% | 7,202,477 | - | | Fei Zhanjun | 1.71% | 4,453,000 | - | | Li Jing | 1.10% | 2,867,500 | - | | Zhang Changhong | 1.07% | 2,775,117 | - | - The largest shareholder, Rongjie Investment Holding Group Co., Ltd., has an associated relationship with the fifth largest shareholder, Zhang Changhong, acting as parties in concert[13] Significant Events This section highlights significant changes in the company's financial data and provides a forecast for the full year's operating performance Analysis of Major Financial Data Changes The company's balance sheet and income statement saw significant changes, with increased assets and liabilities, and a return to profitability driven by new sales and reduced investment losses Balance Sheet Item Changes | Balance Sheet Item | Change Rate | Main Reason | | :--- | :--- | :--- | | Construction in Progress | 473.49% | Increased engineering investment and construction by subsidiary Rongda Lithium | | Intangible Assets | 32.57% | Acquisition of land use rights for Kangding Green Lithium Industrial Processing Zone | | Long-term Equity Investments | 835.08% | Full payment of registered capital for Chengdu Rongjie Lithium | | Short-term Borrowings | 115.34% | New bank borrowings | | Long-term Borrowings | 100.00% | New bank borrowings | | Accounts Payable | 131.07% | Increase in land transfer fees payable and mining road construction payments | Income Statement Item Changes | Income Statement Item | Change Rate | Main Reason | | :--- | :--- | :--- | | Other Income | 437.00% | Receipt of government stability subsidies and asset-related government grants | | Investment Income | 99.29% | Significant reduction in recognized investment losses from associate companies compared to the prior year | | Net Profit | 102.54% | Increased profit sources from lithium concentrate sales; reduced investment losses from associate companies | 2020 Annual Operating Performance Forecast The company forecasts a full-year turnaround to profitability for 2020, with cumulative net profit expected to range from RMB 6 million to RMB 9 million, a significant increase from the prior year's loss 2020 Annual Operating Performance Forecast | Item | Year-Beginning to End of Next Reporting Period (Forecast) | Prior Year Same Period | Change | | :--- | :--- | :--- | :--- | | Cumulative Net Profit (RMB million) | 6.00 -- 9.00 | -326.13 | Increase 101.84% -- 102.76% | - The primary reasons for the turnaround to profitability include: - Significant increase in lithium concentrate sales revenue compared to the prior year - Substantial reduction in asset impairment losses compared to the prior year - Significant decrease in recognized investment gains/losses from associate companies compared to the prior year[20] Financial Statements This section provides the consolidated financial statements, including the balance sheet, income statement, cash flow statement, and explanations of any adjustments Consolidated Balance Sheet As of September 30, 2020, total assets were RMB 976 million (up 20.51%), total liabilities RMB 383 million (up 74.81%), and parent company equity RMB 552 million (up 0.88%) Consolidated Balance Sheet | Item | September 30, 2020 (RMB) | December 31, 2019 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 976,453,658.20 | 810,300,312.85 | +20.51% | | Total Current Assets | 307,358,975.09 | 320,150,288.39 | -4.00% | | Total Non-current Assets | 669,094,683.11 | 490,150,024.46 | +36.51% | | Total Liabilities | 382,866,612.90 | 219,017,313.26 | +74.81% | | Total Equity Attributable to Parent Company Owners | 551,570,979.91 | 546,754,204.26 | +0.88% | Consolidated Income Statement (Year-Beginning to End of Reporting Period) In Q1-Q3 2020, total operating revenue slightly decreased, but improved cost control and reduced investment losses led to a net profit attributable to parent company owners of RMB 3.73 million, a turnaround from a prior year loss Consolidated Income Statement | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 189,570,836.66 | 193,565,608.36 | -2.06% | | II. Total Operating Costs | 197,352,799.83 | 230,997,940.06 | -14.57% | | III. Operating Profit | -4,554,022.69 | -57,439,735.48 | +92.07% | | IV. Total Profit | -3,134,078.57 | -56,568,433.18 | +94.46% | | V. Net Profit | 1,230,511.52 | -48,472,562.79 | +102.54% | | Net Profit Attributable to Parent Company Owners | 3,730,490.40 | -45,161,187.27 | +108.26% | Consolidated Cash Flow Statement (Year-Beginning to End of Reporting Period) In Q1-Q3 2020, net cash flow from operating activities significantly improved, with investing activities resulting in a net outflow and financing activities generating a net inflow, bringing cash and cash equivalents at period end to RMB 9.76 million Consolidated Cash Flow Statement | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -17,531,297.43 | -53,039,002.68 | | Net Cash Flow from Investing Activities | -60,801,631.31 | -37,520,021.59 | | Net Cash Flow from Financing Activities | 71,460,842.77 | 115,165,045.55 | | Net Increase in Cash and Cash Equivalents | -6,872,126.06 | 24,606,021.28 | | Cash and Cash Equivalents at Period End | 9,755,763.47 | 66,349,153.79 | Notes on Financial Statement Adjustments Effective January 1, 2020, the company adopted new revenue recognition standards, reclassifying advances from customers to contract liabilities, an adjustment that did not impact total assets or net assets - The company first adopted new revenue recognition standards in 2020, making retrospective adjustments to the opening financial statements[54] Financial Statement Adjustments | Item | Before Adjustment (Dec 31, 2019) | After Adjustment (Jan 1, 2020) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Advances from Customers | 1,916,595.19 | 0.00 | -1,916,595.19 | | Contract Liabilities | 0.00 | 1,696,101.94 | +1,696,101.94 | | Taxes Payable | 8,055,425.68 | 8,275,918.93 | +220,493.25 |