北化股份(002246) - 2023 Q3 - 季度财报

Key Financial Data This section presents the company's key financial performance, non-recurring items, and the reasons for significant financial metric changes Key Accounting Data and Financial Indicators The company's operating performance significantly declined in Q3 2023 and year-to-date, with Q3 revenue down 9.84% and a net loss attributable to shareholders of 31.35 million Yuan, reversing profit, while year-to-date revenue fell 20.78% and net profit attributable to shareholders dropped 86.96% Key Financial Indicators for Q3 2023 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change (Q3) | Year-to-Date (YTD) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 509,399,967.14 | -9.84% | 1,481,272,234.80 | -20.78% | | Net Profit Attributable to Shareholders (Yuan) | -31,350,429.58 | -229.73% | 11,399,260.27 | -86.96% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (Yuan) | -32,426,942.01 | -335.54% | -8,596,543.24 | -114.11% | | Net Cash Flow from Operating Activities (Yuan) | - | - | -316,279,817.27 | -8.45% | | Basic Earnings Per Share (Yuan/share) | -0.0571 | -229.77% | 0.0208 | -86.93% | | Total Assets (Yuan) | 4,565,027,503.84 | -3.36% (vs. end of prior year) | 4,565,027,503.84 | -3.36% (vs. end of prior year) | | Owners' Equity Attributable to Shareholders (Yuan) | 2,838,258,410.02 | -0.56% (vs. end of prior year) | 2,838,258,410.02 | -0.56% (vs. end of prior year) | Non-Recurring Gains and Losses Items and Amounts Year-to-date, the company's non-recurring gains and losses totaled 19.996 million Yuan, primarily from government subsidies, partially offsetting the decline in core business profit Major Non-Recurring Gains and Losses Items Year-to-Date | Item | Amount Year-to-Date (Yuan) | | :--- | :--- | | Government subsidies included in current profit and loss | 19,952,960.99 | | Gains from transactional financial assets | 3,505,123.29 | | Gains and losses from disposal of non-current assets | -468,177.59 | | Total | 19,995,803.51 | Changes and Reasons for Key Accounting Data and Financial Indicators The company's total profit significantly decreased by 87.95% year-over-year, primarily due to reduced gross profit from chemical defense products driven by decreased special order demand, while accounts receivable surged 67.39% due to specialized product payments, increasing credit impairment losses, and R&D expenses decreased due to a high base in the prior year - Total profit decreased by 77.93 million Yuan, a 87.95% year-over-year decline, primarily due to reduced gross profit from chemical defense products impacted by decreased special order demand[9] - Accounts receivable increased by 319.90 million Yuan from the beginning of the year, a 67.39% increase, mainly due to specialized product payments[9] - R&D expenses decreased by 29.49 million Yuan, a 32.39% year-over-year decline, primarily because a significant special research project expense occurred last year with no similar project this year[9] Shareholder Information This section provides details on the company's shareholder structure, including the total number of shareholders and the holdings of the top ten shareholders Total Number of Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 49,237 common shareholders, with the top ten primarily state-owned entities holding over 47% combined, indicating a concentrated and stable equity structure, and the top five shareholders are all subsidiaries of China North Industries Group Corporation Limited, acting in concert - Total common shareholders at the end of the reporting period numbered 49,237[11] - The top five shareholders—Shanxi Xinhua, Norinco Investment, North Chemical Research Institute, Luzhou North, and Xi'an Huian—are all related parties controlled by China North Industries Group Corporation Limited, holding a high combined stake, indicating the company's strong state-owned background[12] Other Significant Matters This section outlines other significant events impacting the company, including key personnel changes and major operational decisions Company Significant Developments During the reporting period, the company experienced significant personnel changes, including the resignation of two directors, and in August 2023, the board approved the shutdown of the Xi'an nitrocellulose production line, a major operational decision potentially impacting future business structure - In January 2023, Mr. Jiao Jinsong and Mr. Du Lanping resigned from their positions as company directors and related committee roles due to work reasons[13] - On August 20, 2023, the company's board of directors approved the proposal to shut down the Xi'an nitrocellulose production line[14] Quarterly Financial Statements This section provides the company's consolidated quarterly financial statements, including the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of September 30, 2023, the company's total assets were 4.57 billion Yuan, a 3.36% decrease from the beginning of the year, with significant reductions in cash and cash equivalents and a 67.39% increase in accounts receivable, indicating increased pressure on cash collection, while total liabilities decreased, maintaining a stable overall asset-liability structure Consolidated Balance Sheet Key Items (Unit: Yuan) | Item | September 30, 2023 | January 1, 2023 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,129,249,650.90 | 1,528,336,801.73 | -26.11% | | Accounts Receivable | 794,565,117.21 | 474,667,879.50 | +67.39% | | Inventories | 477,203,150.40 | 428,004,832.38 | +11.49% | | Total Assets | 4,565,027,503.84 | 4,723,608,369.47 | -3.36% | | Total Liabilities | 1,549,064,554.08 | 1,688,670,876.39 | -8.27% | | Total Owners' Equity Attributable to Parent Company | 2,838,258,410.02 | 2,854,198,262.85 | -0.56% | Consolidated Income Statement from Beginning of Year to End of Reporting Period In the first three quarters of 2023, the company's total operating revenue was 1.48 billion Yuan, a 20.78% year-over-year decrease, while total operating costs decreased by 18.01%, but the larger revenue decline combined with increased credit impairment losses led to an 87.95% sharp drop in total profit and a net profit attributable to shareholders of only 11.40 million Yuan, down 86.96% year-over-year Consolidated Income Statement Key Items (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | YoY Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 1,481,272,234.80 | 1,869,711,891.43 | -20.78% | | II. Total Operating Costs | 1,477,517,167.50 | 1,802,110,523.90 | -18.01% | | Including: Operating Costs | 1,203,389,064.06 | 1,508,461,039.68 | -20.22% | | R&D Expenses | 61,550,348.24 | 91,042,334.33 | -32.39% | | Credit Impairment Losses | -13,824,847.52 | -3,468,047.72 | -298.63% | | IV. Total Profit | 10,680,665.66 | 88,611,739.95 | -87.95% | | Net Profit Attributable to Parent Company Shareholders | 11,399,260.27 | 87,387,116.86 | -86.96% | Consolidated Cash Flow Statement from Beginning of Year to End of Reporting Period In the first three quarters of 2023, net cash flow from operating activities was -316.28 million Yuan, a slight increase in net outflow compared to the prior year, mainly due to increased cash paid for goods, while net cash flow from investing activities turned negative with a 27.24 million Yuan net outflow primarily from reduced cash received from investments, and net cash flow from financing activities was a 32.69 million Yuan net outflow, resulting in an overall net decrease in cash and cash equivalents of 370.61 million Yuan Consolidated Cash Flow Statement Key Items (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -316,279,817.27 | -291,645,052.55 | | Net Cash Flow from Investing Activities | -27,237,638.50 | 53,227,419.97 | | Net Cash Flow from Financing Activities | -32,687,493.34 | -30,397,499.03 | | Net Increase/Decrease in Cash and Cash Equivalents | -370,605,568.88 | -258,854,865.66 |