友阿股份(002277) - 2021 Q3 - 季度财报

Key Financial Data Key Accounting Data and Financial Indicators In Q3 2021, the company's profitability significantly declined year-over-year, with net profit attributable to parent company shareholders decreasing by 83.13%; however, year-to-date, operating revenue and net profit attributable to parent company shareholders grew by 27.95% and 25.97% respectively, indicating strong performance in the first half of the year Key Financial Indicators for Q3 and Year-to-Date 2021 | Indicator | Current Period (Q3) | Change from Prior Year Same Period | Year-to-Date (YTD) | Change from Prior Year Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 608.21 million Yuan | -0.28% | 1.90 billion Yuan | 27.95% | | Net Profit Attributable to Shareholders of Listed Company | 14.35 million Yuan | -83.13% | 208.92 million Yuan | 25.97% | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | 7.05 million Yuan | -91.32% | 200.10 million Yuan | 10.82% | | Net Cash Flow from Operating Activities | - | - | 359.36 million Yuan | 353.92% | | Basic Earnings Per Share | 0.0102 Yuan/share | -83.28% | 0.1498 Yuan/share | 25.88% | | Total Assets (Period-End) | 15.98 billion Yuan | -2.36% (vs. prior year-end) | - | - | | Equity Attributable to Parent Company Owners (Period-End) | 6.65 billion Yuan | -3.66% (vs. prior year-end) | - | - | Non-recurring Gains and Losses and Their Amounts In the first three quarters of 2021, the company recorded total non-recurring gains and losses of 8.81 million Yuan, primarily comprising government grants of 10.96 million Yuan and gains from entrusted loans of 2.99 million Yuan Year-to-Date Non-recurring Gains and Losses | Item | Year-to-Date Amount (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -59,802.17 | | Government Grants Recognized in Current Profit and Loss | 10,964,171.84 | | Gains and Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading | 867,201.98 | | Gains and Losses from Entrusted Loans | 2,985,947.22 | | Other Non-operating Income and Expenses | -2,963,904.63 | | Total | 8,812,426.97 | Analysis of Significant Changes in Key Financial Data Multiple financial indicators showed significant changes during the reporting period, primarily driven by the first-time adoption of new lease accounting standards, which led to a substantial increase in right-of-use assets and lease liabilities, a decrease in cash due to acquisition payments and loan repayments, an increase in construction in progress, and improved operating cash flow from revenue growth - Due to the first-time adoption of new lease accounting standards, the company recognized 1.54 billion Yuan in right-of-use assets and 1.46 billion Yuan in lease liabilities, with a corresponding decrease in long-term deferred expenses and long-term payables[7][9] - Cash and cash equivalents decreased by 63.76% from the beginning of the year, primarily due to payments for acquiring minority equity in a controlled subsidiary and loan repayments[7] - Construction in progress significantly increased by 132.71% from the beginning of the year, mainly due to increased investment in the overall renovation and upgrade of subsidiary Changsha Youa Wuyi Square Commercial Co., Ltd[7] - Year-to-date, net cash flow from operating activities increased by 353.92% year-over-year, primarily driven by increased cash inflows from sales of goods due to higher operating revenue[10] - Net cash flow from investing activities decreased by 284.38% year-over-year, mainly due to payments for acquiring minority equity in a controlled subsidiary[10] Shareholder Information Common Shareholder Holdings As of the end of the reporting period, the company had 46,776 common shareholders, with Hunan Youyi Apollo Holdings Co., Ltd. as the controlling shareholder holding 32.02% of shares, and the top ten shareholders also including the company's first employee stock ownership plan, Central Huijin Asset Management Co., Ltd., and several natural person shareholders - The total number of common shareholders at the end of the reporting period was 46,776[12] Top Ten Shareholder Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | | :--- | :--- | :--- | | Hunan Youyi Apollo Holdings Co., Ltd. | Domestic Non-State-Owned Legal Person | 32.02% | | Hunan Youyi Apollo Commercial Co., Ltd. - First Employee Stock Ownership Plan | Other | 2.27% | | Central Huijin Asset Management Co., Ltd. | State-Owned Legal Person | 2.26% | | Zhou Shaojun | Domestic Natural Person | 1.88% | | Liu Qiurong | Domestic Natural Person | 1.53% | | Cai Guozhong | Domestic Natural Person | 1.09% | | Zhong Kangpeng | Domestic Natural Person | 0.94% | | Yan Xiaopeng | Domestic Natural Person | 0.82% | | Li Jun | Domestic Natural Person | 0.73% | | Hunan Jufu Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 0.68% | Other Significant Matters Other Significant Matters During the reporting period, the company completed three significant matters: the controlling shareholder's wholly-owned subsidiary completed its share increase plan, the company acquired a 41.5% minority stake in its controlled subsidiary Shaoyang Youa for 498 million Yuan, increasing its holding to 92.5%, and the company sold its entire 2.4 million shares in Broad Homes Industrial Group Co., Ltd. for 87.52 million Yuan - Hunan Jufu Investment Management Co., Ltd., a wholly-owned subsidiary of the controlling shareholder, completed its share increase plan, accumulating an additional 9,443,026 shares, representing 0.68% of the total share capital[14] - The company used 498 million Yuan of its own funds to acquire a 41.5% minority stake in its controlled subsidiary, Hunan Shaoyang Youyi Apollo Co., Ltd., increasing its shareholding to 92.5% after the transaction[14] - The company transferred its entire 2.4 million shares in Changsha Broad Homes Industrial Group Co., Ltd. for 87.52 million Yuan, and no longer holds shares in Broad Homes Industrial Group after the transaction[14] Quarterly Financial Statements Financial Statements This section presents the consolidated balance sheet as of September 30, 2021, and the consolidated income statement and consolidated cash flow statement for the year-to-date period Consolidated Balance Sheet As of September 30, 2021, the company's total assets were 15.98 billion Yuan, a 2.36% decrease from the beginning of the year; total liabilities were 8.97 billion Yuan, and equity attributable to parent company owners was 6.65 billion Yuan, with the asset and liability structure significantly changed due to the adoption of new lease accounting standards, adding right-of-use assets and lease liabilities Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Assets | 15,976,530,771.31 | 16,363,513,355.88 | | Cash and Cash Equivalents | 418,644,741.33 | 1,155,324,243.88 | | Inventories | 3,019,340,326.70 | 3,023,699,486.22 | | Long-term Equity Investments | 2,731,905,887.00 | 2,561,227,363.60 | | Right-of-Use Assets | 1,543,477,274.53 | - | | Total Liabilities | 8,973,839,234.20 | 8,872,859,750.78 | | Short-term Borrowings | 2,238,342,761.53 | 2,703,223,588.85 | | Lease Liabilities | 1,456,240,006.64 | - | | Total Owners' Equity | 7,002,691,537.11 | 7,490,653,605.10 | | Total Owners' Equity Attributable to Parent Company | 6,652,719,240.23 | 6,905,288,946.95 | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2021, the company achieved total operating revenue of 1.92 billion Yuan, a 27.9% year-over-year increase, and net profit attributable to parent company owners of 208.92 million Yuan, a 26.0% year-over-year increase, primarily driven by higher main business revenue and investment income from associates and joint ventures totaling 298.20 million Yuan Key Items from Consolidated Income Statement (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 1,915,393,598.95 | 1,498,108,501.08 | | II. Total Operating Costs | 2,005,518,816.66 | 1,687,841,974.84 | | Investment Income | 298,201,550.50 | 290,487,187.87 | | III. Operating Profit | 212,544,477.28 | 119,501,217.23 | | IV. Total Profit | 209,766,797.83 | 63,873,932.35 | | V. Net Profit | 167,821,780.29 | 29,498,979.06 | | Net Profit Attributable to Owners of the Parent Company | 208,916,428.50 | 165,850,561.48 | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2021, net cash flow from operating activities was 359.36 million Yuan, a significant improvement from the 141.53 million Yuan net outflow in the prior year, mainly due to increased sales revenue; net cash outflow from investing activities was 424.46 million Yuan, primarily for acquiring subsidiary equity; net cash outflow from financing activities was 632.91 million Yuan, mainly for debt repayment; and cash and cash equivalents at period-end totaled 411.84 million Yuan Consolidated Cash Flow Statement Summary (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 359,360,460.99 | -141,525,358.46 | | Net Cash Flow from Investing Activities | -424,464,192.97 | -110,428,444.08 | | Net Cash Flow from Financing Activities | -632,909,539.94 | 464,263,188.31 | | Net Increase in Cash and Cash Equivalents | -701,011,387.56 | 210,719,478.18 | | Cash and Cash Equivalents at Period-End | 411,835,207.91 | 1,078,813,819.17 | Notes on Financial Statement Adjustments The company adopted the new Lease Accounting Standard (CAS 21) from January 1, 2021, using a simplified retrospective approach to adjust only the opening retained earnings and related financial statement items for 2021, without restating comparative period information, which significantly impacted the opening balance sheet by recognizing right-of-use assets and lease liabilities - The company first adopted the new lease accounting standards from January 1, 2021, and retrospectively adjusted lease contracts not yet completed at the date of initial application[30] - The adjustment resulted in an increase of 1.17 billion Yuan in 'right-of-use assets', an increase of 1.42 billion Yuan in 'lease liabilities', and a decrease of 871 million Yuan in 'long-term deferred expenses' as of January 1, 2021[29][30] - The cumulative impact of the accounting policy change on opening retained earnings included a reduction of 5.79 million Yuan in surplus reserves and a reduction of 71.39 million Yuan in undistributed profits[30] Audit Report The financial statements in this quarterly report are unaudited - The company's Q3 2021 report is unaudited[31]