兆新股份(002256) - 2020 Q3 - 季度财报

Important Notice This section confirms the truthfulness, accuracy, and completeness of the quarterly report by the company's management and accounting personnel - 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, with no false records, misleading statements, or major omissions[4] - The company's principal officer, head of accounting, and head of the accounting department all declare that the financial statements in the quarterly report are true, accurate, and complete[5] Company Overview This section provides an overview of the company's key financial performance and shareholder structure during the reporting period Key Accounting Data and Financial Indicators In the first three quarters of 2020, the company's operating performance significantly declined, with revenue decreasing by 10.42% year-over-year and net profit attributable to shareholders turning from profit to a loss of RMB 76.57 million, a 158.42% year-over-year decrease, while total assets and net assets slightly shrank compared to the end of the previous year Key Financial Data (As of September 30, 2020) | Indicator | End of Current Period / Year-to-Date | End of Prior Year / Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Balance Sheet Items | | | | | Total Assets (RMB) | 2,696,358,824.15 | 2,717,201,477.66 | -0.77% | | Net Assets Attributable to Shareholders (RMB) | 1,539,608,820.98 | 1,616,174,341.35 | -4.74% | | Income Statement Items (Year-to-Date) | | | | | Operating Revenue (RMB) | 294,282,087.93 | 328,519,281.70 | -10.42% | | Net Profit Attributable to Shareholders (RMB) | -76,565,520.37 | -29,628,607.40 | -158.42% | | Non-recurring Net Profit Attributable to Shareholders (RMB) | -78,173,678.56 | -39,843,000.00 | -96.20% | | Cash Flow Statement Items (Year-to-Date) | | | | | Net Cash Flow from Operating Activities (RMB) | 90,200,120.77 | 116,001,295.45 | -22.24% | | Per Share Indicators (Year-to-Date) | | | | | Basic Earnings Per Share (RMB/share) | -0.04 | -0.02 | -100.00% | Non-Recurring Gains and Losses (Year-to-Date) | Item | Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 395,797.62 | | | Government Grants Recognized in Current Profit/Loss | 6,462,096.94 | | | Net Non-operating Income/Expenses | -5,093,508.36 | Primarily litigation preservation fees incurred in financing and settlement agreements | | Income Tax Impact | -156,228.01 | | | Total | 1,608,158.19 | -- | Shareholder Information As of the end of the reporting period, the company had 64,052 common shareholders, with controlling shareholder Chen Yongdi holding 26.05% of shares, almost entirely pledged and judicially frozen, and the top three shareholders collectively holding over 41% - As of the end of the reporting period, the company had 64,052 common shareholders[12] Top Ten Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares Held | Share Status | | :--- | :--- | :--- | :--- | | Chen Yongdi | 26.05% | 490,406,779 | Pledged, Frozen | | Shenzhen Caihong Venture Capital Group Co., Ltd. | 9.12% | 171,704,859 | Pledged, Frozen | | Shenzhen Huitong Zhengyuan Equity Investment Partnership | 6.45% | 121,427,844 | Pledged | | Zhongrong International Trust Co., Ltd. | 4.66% | 87,800,000 | - | | Shenzhen Huaao Xing Investment Co., Ltd. | 1.19% | 22,353,400 | - | - Shareholder Chen Yongdi and Shenzhen Caihong Venture Capital Group Co., Ltd. have an affiliated relationship, constituting concerted parties[13] Significant Matters This section details significant financial changes, ongoing material events, and the utilization of raised funds during the reporting period Analysis of Changes in Key Financial Data and Indicators During the reporting period, several financial indicators experienced significant changes, including a 90.86% decrease in long-term receivables due to reclassification of financing lease contracts, a 465.54% surge in non-current liabilities due within one year, and a 404.21% decline in investment income due to losses from equity-accounted investees Balance Sheet Key Item Changes and Reasons | Item | Change (%) | Reason | | :--- | :--- | :--- | | Non-current Assets Due Within One Year | 100% | Reclassification due to some financing lease contracts and settlement agreements maturing within one year | | Long-term Receivables | -90.86% | Same as above | | Other Payables | 85.61% | Increase in interest payable | | Non-current Liabilities Due Within One Year | 465.54% | Reclassification due to some long-term borrowings and long-term payables maturing within one year | | Long-term Borrowings | -91.14% | Same as above | | Long-term Payables | -56.73% | Same as above | Income Statement Key Item Changes and Reasons (Year-to-Date) | Item | Change (%) | Reason | | :--- | :--- | :--- | | Investment Income | -404.21% | Due to losses from equity-accounted investees[19] | | Non-operating Income | -88.29% | Decrease in gains from disposal of non-current assets in the current period[19] | | Non-operating Expenses | 1355.59% | Related expenses incurred from financing and settlement agreements in the current period[20] | Progress of Significant Matters The company disclosed progress on several significant matters, primarily involving the judicial freezing, enforcement, and auction of the controlling shareholder's shares, as well as litigation concerning a loan contract dispute with Shenzhen Koens Industrial Co., Ltd - During the reporting period, the company continued to disclose progress on the following significant matters: - Judicial freezing and release of rotation freezing of shareholder shares - Signing of a 'Settlement Agreement' with Dongguan Ruihe Investment Development Co., Ltd - Judicial enforcement and impending auction of some shares held by the controlling shareholder - Loan contract dispute between the company and Shenzhen Koens Industrial Co., Ltd - Impact of flood disaster on wholly-owned subsidiary[21] Progress of Raised Funds Investment Projects The company's 2015 non-public offering raised approximately RMB 1.52 billion net, which has been substantially utilized, with a remaining balance of approximately RMB 7.71 million in the dedicated account as of September 30, 2020 - The net proceeds from the 2015 non-public offering amounted to RMB 1,521,277,657.58. As of September 30, 2020, a cumulative total of RMB 1,550,052,146.40 has been utilized, with a remaining balance of RMB 7,710,173.99 (including interest) in the dedicated account[25] Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for the third quarter of 2020, along with explanations of adjustments and audit status Financial Statement Details This chapter provides the company's unaudited 2020 third-quarter consolidated and parent company financial statements, including the balance sheet, income statement, and cash flow statement, comprehensively reflecting the company's financial position, operating results, and cash flows during the period Consolidated Balance Sheet As of September 30, 2020, the company's total assets were RMB 2.70 billion, a slight decrease of 0.77% from the end of the previous year; total liabilities were RMB 1.13 billion, an increase of 5.23%; and total equity attributable to parent company owners was RMB 1.54 billion, a 4.74% decrease primarily due to expanded retained earnings losses Consolidated Balance Sheet Key Items (Unit: RMB) | Item | September 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Total Assets | 2,696,358,824.15 | 2,717,201,477.66 | | Total Liabilities | 1,132,879,181.02 | 1,076,597,712.23 | | Total Equity Attributable to Parent Company Owners | 1,539,608,820.98 | 1,616,174,341.35 | | Total Liabilities and Equity | 2,696,358,824.15 | 2,717,201,477.66 | Consolidated Income Statement In the first three quarters of 2020, the company achieved operating revenue of RMB 294.28 million, a 10.42% year-over-year decrease; net profit attributable to parent company shareholders was RMB -76.57 million, a significant loss expansion of 158.42% from RMB -29.63 million in the prior period, with a single-quarter net loss of RMB 24.80 million, expanding 217.23% year-over-year Consolidated Income Statement Key Items (Year-to-Date, Unit: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | 294,282,087.93 | 328,519,281.70 | | Operating Profit | -65,352,593.00 | -24,810,722.99 | | Total Profit | -70,389,807.93 | -20,751,983.81 | | Net Profit Attributable to Parent Company Owners | -76,565,520.37 | -29,628,607.40 | Consolidated Income Statement Key Items (Third Quarter, Unit: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | 113,215,413.65 | 121,811,667.72 | | Operating Profit | -22,547,046.91 | -8,380,873.28 | | Net Profit Attributable to Parent Company Owners | -24,801,836.69 | -7,818,248.36 | Consolidated Cash Flow Statement In the first three quarters of 2020, net cash flow from operating activities was RMB 90.20 million, a 22.24% year-over-year decrease; net cash outflow from investing activities was RMB 21.19 million, a 46.97% increase; net cash outflow from financing activities was RMB 55.94 million, a 50.18% decrease; and the period-end cash and cash equivalents balance was RMB 50.45 million Consolidated Cash Flow Statement Summary (Year-to-Date, Unit: RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 90,200,120.77 | 116,001,295.45 | | Net Cash Flow from Investing Activities | -21,194,456.91 | -14,420,456.98 | | Net Cash Flow from Financing Activities | -55,936,988.03 | -112,268,448.46 | | Net Increase in Cash and Cash Equivalents | 13,068,675.83 | -10,687,609.99 | | Cash and Cash Equivalents at Period End | 50,451,742.34 | 48,464,542.69 | Explanation of Financial Statement Adjustments Effective January 1, 2020, the company adopted new revenue recognition standards, reclassifying RMB 9.28 million from 'Prepayments' to 'Contract Liabilities' in the opening balance sheet, which only impacts presentation and not retained earnings or net assets - Effective January 1, 2020, the company adopted the newly revised 'Accounting Standard for Business Enterprises No. 14—Revenue,' adjusting relevant items in the opening financial statements based on cumulative impact, with no adjustments to comparable period information[68] Consolidated Balance Sheet Opening Balance Adjustments (Unit: RMB) | Item | Before Adjustment (December 31, 2019) | After Adjustment (January 1, 2020) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Prepayments | 9,281,907.25 | 0.00 | -9,281,907.25 | | Contract Liabilities | 0.00 | 9,281,907.25 | 9,281,907.25 | Audit Report The company's 2020 third-quarter report is unaudited - The company's third-quarter report is unaudited[74]