东方园林(002310) - 2023 Q3 - 季度财报

Important Notice This quarterly report confirms the truthfulness, accuracy, and completeness of information disclosure by management and states that the report is unaudited - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility for any false statements, misleading representations, or major omissions[3] - The company's responsible person, head of accounting, and head of accounting department declare that the financial information in the quarterly report is true, accurate, and complete[3] - The third-quarter report is unaudited[3] Key Financial Data The company's key financial data for Q3 2023 and year-to-date show significant declines in revenue and net profit, with negative and worsening operating cash flow, driven by insufficient orders, market price drops, and cost control efforts Key Accounting Data and Financial Indicators The company experienced significant declines in Q3 and year-to-date revenue and net profit attributable to shareholders, with negative and substantially decreasing operating cash flow, alongside reductions in total assets and shareholders' equity | Indicator | Current Reporting Period (CNY) | YoY Change in Current Reporting Period | Year-to-Date (CNY) | YoY Change Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 431,861,075.36 | -37.16% | 1,759,449,759.50 | -49.54% | | Net Profit Attributable to Shareholders of Listed Company | -926,127,643.26 | -20.51% | -1,953,154,996.36 | -19.74% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | -920,417,317.99 | -19.14% | -1,954,402,053.97 | -19.31% | | Net Cash Flow from Operating Activities | — | — | -349,297,994.56 | -106.48% | | Basic Earnings Per Share (CNY/share) | -0.35 | -20.69% | -0.73 | -19.67% | | Diluted Earnings Per Share (CNY/share) | -0.35 | -20.69% | -0.73 | -19.67% | | Weighted Average Return on Net Assets | -27.04% | -18.96% | -49.67% | -33.26% | | Period-End Indicators | End of Current Reporting Period (CNY) | End of Previous Year (CNY) | Change from End of Previous Year | | | Total Assets | 39,502,910,439.16 | 40,772,549,705.46 | -3.11% | | | Total Equity Attributable to Shareholders of Listed Company | 2,961,777,357.55 | 4,905,142,170.33 | -39.62% | | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the current period were -5.71 million CNY, mainly due to non-current asset disposal losses and non-operating income/expenses, while year-to-date totaled 1.25 million CNY, primarily from non-current asset disposal gains and government subsidies | Item | Amount for Current Period (CNY) | Year-to-Date Amount (CNY) | Notes | | :--- | :--- | :--- | :--- | | Gains/Losses on disposal of non-current assets | -4,394,249.59 | 5,613,097.92 | | | Government grants recognized in current profit/loss | 1,843,061.79 | 7,153,739.48 | | | Other non-operating income and expenses | -2,311,735.00 | -8,577,957.00 | | | Less: Income tax impact | 217,725.48 | 77,414.98 | | | Minority interest impact (after tax) | 629,676.99 | 2,864,407.81 | | | Total | -5,710,325.27 | 1,247,057.61 | -- | Changes and Reasons for Key Accounting Data and Financial Indicators Changes in key accounting data and financial indicators reflect the company's challenges and responses to insufficient ecological construction orders, industrial waste recycling business transformation, management structure optimization, and debt restructuring Changes and Reasons for Consolidated Balance Sheet Items Balance sheet item changes primarily show significant decreases in right-of-use assets, development expenditures, notes receivable, financing for receivables, short-term borrowings, and non-current liabilities due within one year, reflecting reduced nurseries, R&D capitalization, maturing notes, and debt repayment, while other payables substantially increased due to non-financial institution borrowings - Right-of-use assets decreased by 52.89% from the beginning of the year, primarily due to a reduction in land lease assets affected by fewer nurseries[6] - Development expenditures decreased by 53.96% from the beginning of the year, mainly due to R&D expenses being capitalized as intangible assets upon patent acquisition[6] - Non-current liabilities due within one year decreased by 70.16% from the beginning of the year, primarily due to the repayment of long-term borrowings maturing within one year[7] - Other payables increased by 110.56% from the beginning of the year, mainly due to an increase in the company's non-financial institution borrowings[7] - Retained earnings decreased by 1,019.29% from the beginning of the year, primarily due to a decline in current period profit[8] Changes and Reasons for Consolidated Income Statement Items Income statement changes show significant declines in revenue, cost of sales, taxes and surcharges, selling expenses, other income, and investment income, reflecting insufficient ecological construction orders, industrial waste recycling business transformation, management optimization, and reduced government subsidies, alongside increased asset impairment losses and non-operating expenses, and a substantial decrease in minority interest income due to subsidiary losses - Operating revenue, operating costs, and taxes and surcharges decreased by 49.54%, 41.50%, and 54.86% respectively year-on-year, primarily due to insufficient existing orders in the ecological construction business at the beginning of the year, with newly awarded projects not yet converted into output value; the industrial waste recycling business was affected by declining market prices, transitioning to recycling other waste materials, and has not yet achieved scale[9] - Selling expenses decreased by 40.70% year-on-year, mainly due to the company's optimization and reform of its management structure and strict control over cost expenditures[9] - Investment income decreased by 563.71% year-on-year, primarily due to a reduction in investment income recognized from associates accounted for using the equity method during the reporting period[9] - Minority interest income decreased by 118.81% year-on-year, primarily due to an increase in net losses of non-wholly owned subsidiaries during the current period[10] Changes and Reasons for Consolidated Cash Flow Statement Items Net cash flow from operating activities was negative and worsened year-on-year, mainly due to decreased sales collections; net cash outflow from investing activities reduced due to lower payments for long-term assets; and net cash flow from financing activities significantly increased due to higher net financing inflows - Net cash flow from operating activities for the current period was -349 million CNY, compared to -169 million CNY in the prior period, primarily due to a year-on-year decrease in the company's sales collections[11] - Net cash flow from investing activities for the current period was -118 million CNY, compared to -184 million CNY in the prior period, primarily due to a decrease in cash paid for long-term assets[11] - Net cash flow from financing activities for the current period was 578 million CNY, compared to 140 million CNY in the prior period, primarily due to a year-on-year increase in the company's net financing inflows[11] Shareholder Information As of the end of the reporting period, the company had over 120,000 common shareholders; the top ten shareholders' holdings show He Qiaonv as the largest shareholder, with most of her shares frozen, and some major shareholders have related party relationships or act in concert Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the total number of common shareholders was 125,542; among the top ten, He Qiaonv held the highest proportion of shares, with most frozen, and some institutional and individual shareholders acted in concert - Total number of common shareholders at the end of the reporting period: 125,542[13] - He Qiaonv holds 410,373,544 shares, representing 15.28% of total shares, with all 410,373,544 shares frozen[13] - Beijing Chaohuixin Enterprise Management Co., Ltd. and Beijing Chaotoufa Investment Management Co., Ltd. - Beijing Yingrun Huimin Fund Management Center (Limited Partnership) are parties acting in concert under the same ultimate controller[13] Preferred Shareholder Information The company has no preferred shareholders - The company has no preferred shareholders[15] Other Significant Matters There are no other significant matters requiring disclosure by the company during this reporting period - The company has no other significant matters[15] Quarterly Financial Statements This section presents the company's Q3 2023 consolidated balance sheet, income statement, and cash flow statement, detailing financial position, operating results, and cash flows, while confirming no adjustments for new accounting standards and an unaudited status Financial Statements This section includes the company's consolidated balance sheet as of September 30, 2023, and year-to-date consolidated income and cash flow statements, comprehensively reflecting its financial health, profitability, and liquidity Consolidated Balance Sheet As of September 30, 2023, total assets were 39.50 billion CNY, a 3.11% decrease from year-beginning; equity attributable to parent company owners was 2.96 billion CNY, a significant 39.62% decrease, with total current liabilities at 29.80 billion CNY and non-current liabilities at 5.47 billion CNY Consolidated Balance Sheet Key Data (As of September 30, 2023) | Item | September 30, 2023 (CNY) | January 1, 2023 (CNY) | | :--- | :--- | :--- | | Total Assets | 39,502,910,439.16 | 40,772,549,705.46 | | Total Current Assets | 20,877,344,390.43 | 22,417,885,177.73 | | Total Non-current Assets | 18,625,566,048.73 | 18,354,664,527.73 | | Total Liabilities | 35,265,404,806.47 | 34,718,025,220.34 | | Total Current Liabilities | 29,796,440,863.57 | 29,207,661,418.33 | | Total Non-current Liabilities | 5,468,963,942.90 | 5,510,363,802.01 | | Total Equity Attributable to Parent Company Owners | 2,961,777,357.55 | 4,905,142,170.33 | | Total Equity | 4,237,505,632.69 | 6,054,524,485.12 | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, total operating revenue was 1.76 billion CNY, a 49.54% year-on-year decrease; net profit attributable to parent company shareholders was -1.95 billion CNY, with losses widening year-on-year, and both operating profit and total profit were negative, with increased losses compared to the prior year Consolidated Income Statement Key Data (Year-to-Date) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 1,759,449,759.50 | 3,486,676,539.24 | | Total Operating Costs | 3,135,129,244.66 | 4,656,128,438.32 | | Operating Profit (Loss indicated by "-") | -1,974,183,407.05 | -1,658,728,976.03 | | Total Profit (Total Loss indicated by "-") | -1,982,859,828.76 | -1,658,498,161.11 | | Net Profit (Net Loss indicated by "-") | -1,984,819,171.23 | -1,645,599,143.38 | | Net Profit Attributable to Parent Company Shareholders | -1,953,154,996.36 | -1,631,127,863.38 | | Minority Interest Income/Loss | -31,664,174.87 | -14,471,280.00 | | Basic Earnings Per Share | -0.73 | -0.61 | | Diluted Earnings Per Share | -0.73 | -0.61 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, net cash flow from operating activities was -349 million CNY, from investing activities -118 million CNY, and from financing activities 578 million CNY, with cash and cash equivalents balance at period-end increasing to 528 million CNY from the beginning of the period Consolidated Cash Flow Statement Key Data (Year-to-Date) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -349,297,994.56 | -169,166,126.07 | | Net Cash Flow from Investing Activities | -118,133,751.86 | -183,864,326.96 | | Net Cash Flow from Financing Activities | 578,162,975.32 | 140,158,005.04 | | Net Increase in Cash and Cash Equivalents | 110,731,228.93 | -212,872,447.91 | | Cash and Cash Equivalents at Period-End | 528,284,768.83 | 699,645,821.61 | Adjustments for First-Time Adoption of New Accounting Standards The company states that it adopted new accounting standards starting in 2023 but made no adjustments to relevant financial statement items at the beginning of the first-time adoption year - The company did not adjust relevant financial statement items at the beginning of the first-time adoption year for new accounting standards effective from 2023[25] Audit Report This quarterly report is unaudited - The company's third-quarter report is unaudited[25]