兆新股份(002256) - 2020 Q1 - 季度财报

Important Notice The company's board, supervisory board, and senior management assure the truthfulness, accuracy, and completeness of this quarterly report, assuming full legal responsibility - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assume corresponding legal liabilities[4] - The company's responsible person, chief accountant, and head of accounting department all declare that the financial statements in this quarterly report are true, accurate, and complete[5] Company Profile This section provides an overview of the company's key financial data, indicators, and shareholder structure as of the reporting period Key Accounting Data and Financial Indicators In Q1 2020, the company's operating revenue decreased by 9.39% year-on-year, and net profit attributable to shareholders expanded to a loss of RMB 28.96 million, down 11.84%, while net cash flow from operating activities significantly increased to RMB 24.62 million, up 1363.59% Key Financial Indicators for Q1 2020 | Indicator | Current Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 76,916,585.56 | 84,886,775.92 | -9.39% | | Net Profit Attributable to Shareholders (RMB) | -28,958,849.98 | -25,892,105.15 | -11.84% | | Net Cash Flow from Operating Activities (RMB) | 24,616,428.26 | -1,948,131.58 | 1,363.59% | | Basic Earnings Per Share (RMB/share) | -0.02 | -0.01 | -100.00% | | Weighted Average Return on Net Assets | -1.81% | -1.37% | -0.44% | | Balance Sheet Indicators | End of Current Period | End of Prior Year | Period-end vs. Prior Year-end Change | | Total Assets (RMB) | 2,697,221,924.45 | 2,717,201,477.66 | -0.74% | | Net Assets Attributable to Shareholders (RMB) | 1,587,215,311.56 | 1,616,174,341.35 | -1.79% | - During the reporting period, the company's total non-recurring gains and losses amounted to RMB 2.52 million, primarily from government subsidies recognized in current profit and loss[9] Shareholder Information As of the end of the reporting period, the company had 90,472 common shareholders, with the largest shareholder, Chen Yongdi, holding 26.26% of shares, almost entirely pledged and frozen, and the top three shareholders collectively holding over 40% - As of the end of the reporting period, the company had 90,472 common shareholders[11] Top Three Shareholders' Shareholding Status | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | Pledge or Freeze Status | | :--- | :--- | :--- | :--- | :--- | | Chen Yongdi | Domestic Natural Person | 26.26% | 494,406,779 | Pledged 486,007,100 shares, Frozen 494,406,779 shares | | Shenzhen Caihong Venture Capital Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 9.12% | 171,704,859 | Pledged 171,514,459 shares, Frozen 171,704,859 shares | | Shenzhen Huitong Zhengyuan Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 6.45% | 121,427,844 | Pledged 121,427,844 shares | Significant Events This section details significant financial data changes, ongoing major events, and other important matters during the reporting period Analysis of Major Financial Data Changes During the reporting period, several financial indicators showed significant fluctuations, with net cash flow from operating activities surging by 1363.59% due to reduced cash payments for goods and receipt of photovoltaic subsidies, while investment income plummeted by 1953.28% due to reduced profits from associates, and net cash flow from investing activities decreased by 203.04% primarily due to payments for power station projects Major Financial Indicator Changes and Reasons | Statement Item | Change Percentage | Primary Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1363.59% | Decrease in cash paid for goods and services, and receipt of local photovoltaic power generation subsidies | | Investment Income | -1953.28% | Reduced profit from associates in the current period | | Net Cash Flow from Investing Activities | -203.04% | Payment for power station projects in the current period | | Net Cash Flow from Financing Activities | -350.55% | Repayment of debt and interest in the current period, with no cash inflow from financing activities | Progress of Significant Events The company disclosed progress on several significant matters during the reporting period, including judicial transfer of major shareholder's shares, urban renewal of the Shiyan factory, bankruptcy liquidation of a 5%+ shareholder, judicial freezing of shareholder shares, and overdue company debts - The company continuously tracked and disclosed progress on several major events, including: - Partial judicial transfer of major shareholder's shares[16] - Relocation of the company's Shiyan factory and application for industrial park urban renewal unit plan[16] - A shareholder holding over 5% of shares being accepted for bankruptcy liquidation by the court[17] - Shareholder shares being judicially frozen and rotationally frozen[17] - Partial company debt overdue[17] Other Significant Matters During the reporting period, the company had no overdue unfulfilled commitments, did not engage in securities investment, wealth management, or derivative investments, and had no irregular external guarantees or non-operating fund occupation by controlling shareholders - During the reporting period, the company had no overdue unfulfilled commitments[18] - The company did not engage in securities investment, wealth management, or derivative investments during the reporting period, nor were there any irregular external guarantees or non-operating fund occupation by controlling shareholders[19][20][21][23][24] Financial Statements This section presents the company's consolidated balance sheet, income statement, cash flow statement, and audit opinion for the reporting period Consolidated Balance Sheet As of March 31, 2020, the company's total assets were RMB 2.70 billion, a slight decrease of 0.74% from the beginning of the year, with total liabilities at RMB 1.09 billion and total equity attributable to parent company owners at RMB 1.59 billion, down 1.79% from the beginning of the year, and non-current assets accounting for approximately 79% of total assets Key Items from Consolidated Balance Sheet (Unit: RMB) | Item | March 31, 2020 | December 31, 2019 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,697,221,924.45 | 2,717,201,477.66 | -0.74% | | Total Liabilities | 1,085,750,630.36 | 1,076,597,712.23 | +0.85% | | Total Equity Attributable to Parent Company Owners | 1,587,215,311.56 | 1,616,174,341.35 | -1.79% | Consolidated Income Statement In Q1 2020, the company achieved operating revenue of RMB 76.92 million, a 9.39% year-on-year decrease, resulting in an operating loss of RMB 26.86 million due to total operating costs exceeding revenue and negative investment income, with net profit attributable to parent company owners at -RMB 28.96 million, an 11.84% increase in loss year-on-year Key Items from Consolidated Income Statement (Unit: RMB) | Item | Current Period Amount | Prior Period Amount | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 76,916,585.56 | 84,886,775.92 | -9.39% | | Total Operating Costs | 103,440,942.90 | 113,998,095.86 | -9.26% | | Operating Profit | -26,858,379.00 | -24,077,545.52 | -11.55% | | Net Profit Attributable to Parent Company Owners | -28,958,849.98 | -25,892,105.15 | -11.84% | Consolidated Cash Flow Statement During the reporting period, the company's cash flow showed improved operating activities and outflows from investing and financing activities, with net cash flow from operating activities at RMB 24.62 million, a strong positive turnaround year-on-year, while net cash flows from investing and financing activities were outflows of RMB 9.67 million and RMB 13.82 million, respectively Key Items from Consolidated Cash Flow Statement (Unit: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 24,616,428.26 | -1,948,131.58 | | Net Cash Flow from Investing Activities | -9,670,956.08 | -3,191,277.00 | | Net Cash Flow from Financing Activities | -13,822,191.79 | -3,067,863.87 | | Net Increase in Cash and Cash Equivalents | 1,123,280.39 | -8,207,272.45 | Audit Opinion The company's Q1 2020 financial report is unaudited - The company's first quarter report is unaudited[53]