奥特佳(002239) - 2021 Q3 - 季度财报

Financial and Operating Summary Key Financial Data The company achieved significant revenue growth and a year-to-date net profit turnaround, despite a Q3 loss from rising costs, with operating cash flow pressured by increased working capital Core Financial Indicators Q3 operating revenue grew 26.01% year-over-year, but net profit attributable to shareholders declined 275.48% to a loss; year-to-date, revenue increased 53.22%, and net profit attributable to shareholders rose 160.48%, achieving a turnaround, with total assets up 19.45% | Indicator | Current Period (Q3 2021) | YoY Change (Current Period) | Year-to-Date (YTD Q3 2021) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,281,103,409.32 | 26.01% | 3,789,082,503.62 | 53.22% | | Net Profit Attributable to Shareholders (RMB) | -17,395,040.56 | -275.48% | 27,992,151.31 | 160.48% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 28,463,331.67 | 549.39% | 117,691,996.03 | 349.93% | | Net Cash Flow from Operating Activities (RMB) | — | — | -71,370,435.99 | -123.66% | | Basic Earnings Per Share (RMB/share) | -0.0054 | -237.50% | 0.0086 | 157.72% | | Total Assets (RMB) | 10,044,489,294.61 | 19.45% (vs. end of prior year) | — | — | | Total Equity Attributable to Shareholders (RMB) | 5,415,983,525.10 | 9.14% (vs. end of prior year) | — | — | Non-recurring Gains and Losses Non-recurring gains and losses totaled -RMB 45.86 million for the current period and -RMB 89.70 million year-to-date; the loss primarily stemmed from significant "other non-operating expenses" amounting to RMB 56.88 million in the current period, mainly due to surging international logistics costs caused by COVID-19 disruptions | Item | Amount for Current Period (RMB) | Amount Year-to-Date (RMB) | Explanation | | :--- | :--- | :--- | :--- | | Other Non-operating Income and Expenses | -56,877,990.79 | -138,426,441.47 | Significant logistics costs incurred by the company's international business due to COVID-19 disruptions | | Total | -45,858,372.22 | -89,699,844.72 | -- | Analysis of Financial Indicator Changes Financial indicator changes are primarily influenced by market and cost factors; revenue growth benefited from the domestic passenger vehicle market recovery, while Q3 net profit decline was mainly due to surging international logistics and raw material costs, and reduced operating cash flow resulted from increased working capital utilization and delayed collections due to revenue growth - Operating revenue growth: Driven by the year-over-year recovery in the domestic passenger vehicle market, with significant sales increases for the company's products in both traditional and new energy vehicle markets[10] - Q3 net profit loss: Attributed to a substantial increase in international business logistics costs due to the COVID-19 pandemic, coupled with high prices for raw materials like metals and semiconductors, and delayed product price adjustments, which negatively impacted current period earnings[10][12] - Decrease in operating cash flow: Resulting from increased capital tied up in accounts receivable and inventory due to revenue growth, alongside higher payments for employee compensation and taxes[10] Shareholder Information As of the end of the reporting period, the company had 153,585 common shareholders; the top three shareholders held a concentrated stake exceeding 29% combined, with the top two and sixth largest shareholders acting in concert with the actual controller, Mr. Zhang Yongming - Total common shareholders at the end of the reporting period numbered 153,585[14] Top Three Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held (shares) | | :--- | :--- | :--- | | Jiangsu Tianyou Jingan Investment Co., Ltd. | 10.91% | 353,832,788 | | Beijing Tianyou Investment Co., Ltd. | 10.03% | 325,438,596 | | Wang Jinfei | 8.43% | 273,544,949 | - Jiangsu Tianyou Jingan Investment Co., Ltd., Beijing Tianyou Investment Co., Ltd., and Tibet Tianyou Investment Co., Ltd. are all controlled by Mr. Zhang Yongming and act in concert[17] Other Significant Matters The company completed a non-public offering of A-shares in February 2021, raising capital; approximately 112 million shares from this offering were fully released from lock-up and listed for trading on September 6, 2021 - The company completed a non-public offering of 111,898,727 shares in February 2021 at an issue price of RMB 3.95 per share, with a 6-month lock-up period[18] - As of September 6, 2021, all shares from this non-public offering were released from lock-up and listed for trading[18] Financial Statements Quarterly Financial Statements As of September 30, 2021, total assets exceeded RMB 10 billion, up 19.45% from the beginning of the year; year-to-date, the company achieved RMB 3.789 billion in operating revenue, a 53.22% increase, with net profit turning profitable; operating cash flow was a net outflow of RMB 71 million, primarily due to increased working capital utilization, and the company retrospectively adjusted opening financial statements due to the adoption of new leasing standards from 2021 Consolidated Balance Sheet As of September 30, 2021, the company's total assets were RMB 10.044 billion, up 19.45% from the beginning of the year; total liabilities were RMB 4.617 billion, with a debt-to-asset ratio of 45.97%; owner's equity was RMB 5.427 billion, an increase of 9.24% from the beginning of the year, with asset growth primarily driven by increases in cash, inventory, and short-term borrowings | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 10,044,489,294.61 | 8,408,644,686.70 | +19.45% | | Total Liabilities | 4,617,228,132.86 | 3,440,454,031.92 | +34.20% | | Total Owners' Equity | 5,427,261,161.75 | 4,968,190,654.78 | +9.24% | Consolidated Income Statement (YTD) In the first three quarters of 2021, the company achieved total operating revenue of RMB 3.789 billion, a 53.22% year-over-year increase; total operating costs were RMB 3.762 billion, up 49.34% year-over-year; ultimately, net profit attributable to the parent company was RMB 27.99 million, turning profitable from -RMB 46.28 million in the same period last year, a 160.48% increase | Item | Amount for Current Period (YTD Q3 2021) (RMB) | Amount for Prior Period (YTD Q3 2020) (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 3,789,082,503.62 | 2,473,047,896.33 | +53.22% | | Operating Profit | 44,748,655.75 | -53,970,332.40 | Turned Profitable | | Total Profit | 43,660,139.99 | -72,017,491.44 | Turned Profitable | | Net Profit Attributable to Parent Company Owners | 27,992,151.31 | -46,283,813.27 | +160.48% | Consolidated Cash Flow Statement (YTD) In the first three quarters of 2021, net cash flow from operating activities was a net outflow of RMB 71 million, a 123.66% year-over-year decrease, primarily due to significant increases in expenditures for goods purchased and employee compensation; net cash outflow from investing activities was RMB 212 million; net cash inflow from financing activities was RMB 451 million, mainly from capital contributions and borrowings | Item | Amount for Current Period (YTD Q3 2021) (RMB) | Amount for Prior Period (YTD Q3 2020) (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -71,370,435.99 | 301,639,672.92 | | Net Cash Flow from Investing Activities | -212,307,397.88 | -127,174,663.62 | | Net Cash Flow from Financing Activities | 451,048,135.94 | -144,414,898.37 | Explanation of Financial Statement Adjustments The company adopted new leasing standards from January 1, 2021, retrospectively adjusting opening financial statements; key impacts include an increase of RMB 96.19 million in "right-of-use assets", a total increase of RMB 92.93 million in "lease liabilities" (including current portion), and corresponding decreases in "other receivables" and other accounts - The company adopted new leasing standards for the first time in 2021, adjusting relevant items in the financial statements at the beginning of the first year of adoption[42] Financial Statement Adjustments | Adjusted Item | Adjustment Amount (RMB) | | :--- | :--- | | Right-of-Use Assets | +96,193,719.84 | | Non-current Liabilities Due Within One Year | +15,673,413.84 | | Lease Liabilities | +77,259,394.84 | | Other Receivables | -3,260,911.16 |