神剑股份(002361) - 2023 Q1 - 季度财报

Report Overview This section provides an overview of the report's key disclaimers and audit status Important Notice The report emphasizes that the board, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of information disclosure, assuming legal responsibility; the company's head, chief accountant, and accounting department head declare the financial information is true, accurate, and complete - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[3] - The company's head, chief accountant, and head of the accounting department declare that the financial information is true, accurate, and complete[3] Audit Status This quarterly report has not been audited - The company's 2023 first-quarter report has not been audited[4][24] Key Financial Data This section presents the company's key accounting data, financial indicators, and non-recurring gains and losses for the reporting period Key Accounting Data and Financial Indicators In Q1 2023, the company's operating revenue grew by 0.50% to 543 million Yuan, net profit attributable to shareholders increased by 9.12% to 6.52 million Yuan, while net profit excluding non-recurring items significantly decreased by 337.56% to -5.76 million Yuan; net cash flow from operating activities improved by 52.61% Key Financial Indicators for Q1 2023 | Item | Current Period (Yuan) | Prior Year Same Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 542,951,386.45 | 540,269,960.48 | 0.50% | | Net Profit Attributable to Shareholders of Listed Company | 6,519,602.50 | 5,974,597.56 | 9.12% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | -5,764,332.33 | 2,426,425.17 | -337.56% | | Net Cash Flow from Operating Activities | -61,018,526.53 | -128,750,203.73 | 52.61% | | Basic Earnings Per Share (Yuan/share) | 0.0069 | 0.0063 | 9.52% | | Diluted Earnings Per Share (Yuan/share) | 0.0069 | 0.0063 | 9.52% | | Weighted Average Return on Net Assets | 0.28% | 0.25% | Increased by 0.03 percentage points | Key Balance Sheet Indicators as of March 31, 2023 | Item | End of Current Period (Yuan) | End of Prior Year (Yuan) | Period-end vs. Prior Year-end Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,483,790,594.76 | 4,538,098,317.90 | -1.20% | | Total Equity Attributable to Shareholders of Listed Company | 2,368,374,094.41 | 2,361,676,603.53 | 0.28% | Non-recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 12.28 million Yuan, primarily from government subsidies, positively impacting net profit Non-recurring Gains and Losses Items for Q1 2023 | Item | Amount for Current Period (Yuan) | Explanation | | :--- | :--- | :--- | | Government subsidies recognized in current profit or loss | 14,248,317.63 | Excluding government subsidies closely related to the company's normal operations, compliant with national policies, and continuously enjoyed at fixed or quantitative standards | | Other non-operating income and expenses apart from the above items | 262,170.40 | | | Less: Income tax impact | 2,176,573.20 | | | Impact on minority interests (after tax) | 49,980.00 | | | Total | 12,283,934.83 | | - The company has no other profit or loss items meeting the definition of non-recurring gains and losses, nor has it classified non-recurring items as recurring gains and losses[7] Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, multiple balance sheet, income statement, and cash flow statement items experienced significant changes, driven by increased raw material prepayments, export tax refunds, new leases, higher advance receipts, reduced tax payables, increased deferred output VAT, higher financing needs, and changes in government subsidies and investment activities Balance Sheet Item Changes At period-end, prepayments, other receivables, right-of-use assets, other non-current assets, contract liabilities, other current liabilities, long-term borrowings, and lease liabilities all significantly increased, while taxes payable substantially decreased Balance Sheet Item Changes (March 31, 2023 vs. December 31, 2022) | Item | March 31, 2023 (Yuan) | December 31, 2022 (Yuan) | Period-end vs. Year-start Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Prepayments | 51,793,574.57 | 32,801,646.49 | 57.90% | More prepayments for raw materials | | Other Receivables | 9,639,803.67 | 4,541,632.61 | 112.25% | Increase in export tax refund receivables | | Right-of-Use Assets | 5,626,021.72 | 2,765,146.13 | 103.46% | New property leases | | Other Non-current Assets | 51,777,624.60 | 33,866,399.89 | 52.89% | Increase in prepayments for equipment and engineering | | Contract Liabilities | 56,547,180.67 | 25,504,798.57 | 121.71% | Increase in advance receipts for goods | | Taxes Payable | 10,521,255.40 | 24,456,310.03 | -56.98% | Decrease in taxes payable | | Other Current Liabilities | 6,247,695.19 | 3,309,086.83 | 88.80% | Increase in deferred output VAT | | Long-term Borrowings | 90,061,666.67 | 50,000,000.00 | 80.12% | Increase in financing needs | | Lease Liabilities | 3,810,151.24 | 2,250,738.66 | 69.28% | Increase in outstanding lease payments for new leases | Income Statement Item Changes During the reporting period, taxes and surcharges and other income significantly increased, while investment income and credit impairment losses substantially decreased; asset impairment losses turned positive, and non-operating income significantly reduced Income Statement Item Changes (January-March 2023 vs. January-March 2022) | Item | Jan-Mar 2023 (Yuan) | Jan-Mar 2022 (Yuan) | Period-on-period Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Taxes and Surcharges | 4,820,544.94 | 2,088,676.84 | 130.79% | Increase in additional taxes payable | | Other Income | 14,248,317.63 | 2,940,465.29 | 384.56% | Increase in government subsidies related to daily operations | | Investment Income | 612,518.05 | 1,749,355.49 | -64.99% | No purchase of wealth management products | | Credit Impairment Losses | 173,946.46 | 2,377,905.59 | -92.68% | Change in provision for bad debts | | Asset Impairment Losses | 92,406.76 | -745,121.45 | 112.40% | Provision for impairment of contract assets | | Non-operating Income | 262,170.40 | 1,271,544.70 | -79.38% | Decrease in government subsidies unrelated to daily operations | Cash Flow Statement Item Changes Net cash flow from operating activities significantly increased year-on-year due to higher cash collections and reduced accounts receivable; net cash flow from investing activities substantially decreased as no wealth management products were purchased; net cash flow from financing activities slightly declined due to reduced borrowings - Net cash flow from operating activities increased by 67.73 million Yuan year-on-year, primarily due to increased cash collections and reduced accounts receivable[11] - Net cash flow from investing activities decreased by 58.26 million Yuan year-on-year, mainly because no wealth management products were transacted during the reporting period[11] - Net cash flow from financing activities decreased by 2.23 million Yuan year-on-year, primarily due to reduced borrowings[11] Shareholder Information This section details the total number of common shareholders and the holdings of the top ten shareholders, including any preferred share information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 51,062 common shareholders; Liu Zhijian is the largest shareholder with 16.87% stake, with most of his shares pledged; Liu Zhijian and Liu Qi are parties acting in concert, and some top ten shareholders hold shares through margin trading and securities lending accounts - The total number of common shareholders at the end of the reporting period was 51,062[13] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledged, Marked, or Frozen Status (Share Status/Number) | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Zhijian | Domestic Natural Person | 16.87% | 160,415,980.00 | 134,006,985.00 | Pledged/93,680,000.00 | | Liu Qi | Domestic Natural Person | 3.36% | 32,000,000.00 | - | Pledged/24,850,000.00 | | Liu Shaohong | Domestic Natural Person | 3.03% | 28,800,000.00 | 21,600,000.00 | - | | Li Baocai | Domestic Natural Person | 2.09% | 19,841,205.00 | - | - | | Xie Renguo | Domestic Natural Person | 1.68% | 15,960,671.00 | - | - | | Wang Xueliang | Domestic Natural Person | 1.63% | 15,468,000.00 | - | - | | Shanghai Guosheng Capital Management Co., Ltd. - Shanghai Guosheng Haitong Private Equity Fund for High-Quality Development of Private Enterprises (Limited Partnership) | Other | 1.41% | 13,400,000.00 | - | - | | Wang Jingbo | Domestic Natural Person | 1.06% | 10,037,800.00 | - | - | | Wang Shixiang | Domestic Natural Person | 0.53% | 5,000,000.00 | - | - | | Chen Fusheng | Domestic Natural Person | 0.50% | 4,800,000.00 | - | - | - Liu Zhijian and Liu Qi are parties acting in concert; several shareholders hold shares through margin trading and securities lending accounts[14] Preferred Shareholder Information The company has no preferred shareholders - The company has no preferred shareholders[15] Other Significant Matters The company had no other significant matters to disclose during the reporting period - The company had no other significant matters to disclose[15] Quarterly Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement for the quarter Consolidated Balance Sheet As of March 31, 2023, total assets were 4.484 billion Yuan, a slight 1.20% decrease from the year-start; total current assets were 2.697 billion Yuan, total non-current assets were 1.787 billion Yuan; total liabilities were 2.062 billion Yuan, and total equity was 2.422 billion Yuan Consolidated Balance Sheet Key Data (March 31, 2023) | Item | Period-end Balance (Yuan) | Year-start Balance (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 640,845,647.02 | 805,279,232.72 | | Accounts Receivable | 1,159,805,915.42 | 1,195,253,518.35 | | Inventories | 411,994,827.77 | 390,439,010.18 | | Total Current Assets | 2,697,167,666.93 | 2,802,938,920.41 | | Fixed Assets | 784,038,197.06 | 805,419,016.31 | | Construction in Progress | 478,079,994.89 | 425,485,144.37 | | Total Non-current Assets | 1,786,622,927.83 | 1,735,337,285.87 | | Total Assets | 4,483,790,594.76 | 4,538,276,206.28 | | Short-term Borrowings | 1,268,145,230.92 | 1,392,728,420.49 | | Notes Payable | 361,330,267.58 | 321,547,506.21 | | Total Current Liabilities | 1,932,057,863.69 | 2,034,549,499.35 | | Long-term Borrowings | 90,061,666.67 | 50,000,000.00 | | Total Non-current Liabilities | 129,704,862.65 | 88,853,755.70 | | Total Liabilities | 2,061,762,726.34 | 2,123,403,255.05 | | Total Equity Attributable to Parent Company Shareholders | 2,368,374,094.41 | 2,361,854,491.91 | | Total Equity | 2,422,027,868.42 | 2,414,872,951.23 | Consolidated Income Statement In Q1 2023, the company achieved total operating revenue of 543 million Yuan, largely flat year-on-year; operating profit was 6.33 million Yuan, up 44.78%; net profit was 7.15 million Yuan, up 160.08%, with net profit attributable to parent company shareholders at 6.52 million Yuan Consolidated Income Statement Key Data (January-March 2023) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 542,951,386.45 | 540,269,960.48 | | Total Operating Costs | 551,747,561.32 | 542,213,389.36 | | Operating Profit | 6,331,014.03 | 4,372,597.62 | | Total Profit | 6,593,184.43 | 5,613,031.21 | | Net Profit | 7,154,917.19 | 2,751,064.78 | | Net Profit Attributable to Parent Company Shareholders | 6,519,602.50 | 5,974,597.56 | | Minority Interests | 635,314.69 | -3,223,532.78 | | Basic Earnings Per Share (Yuan/share) | 0.0069 | 0.0063 | | Diluted Earnings Per Share (Yuan/share) | 0.0069 | 0.0063 | Consolidated Cash Flow Statement In Q1 2023, net cash flow from operating activities was -61.02 million Yuan, a significant improvement from -128.75 million Yuan in the prior year; net cash flow from investing activities was -17.52 million Yuan, a substantial decrease from 40.74 million Yuan due to no wealth management product transactions; net cash flow from financing activities was -80.33 million Yuan, largely flat compared to -78.11 million Yuan; period-end cash and cash equivalents balance was 556 million Yuan Consolidated Cash Flow Statement Key Data (January-March 2023) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -61,018,526.53 | -128,750,203.73 | | Net Cash Flow from Investing Activities | -17,516,890.87 | 40,742,541.41 | | Net Cash Flow from Financing Activities | -80,334,225.98 | -78,106,260.24 | | Net Increase in Cash and Cash Equivalents | -159,940,223.29 | -167,222,391.51 | | Period-end Cash and Cash Equivalents Balance | 556,047,331.85 | 378,119,859.87 |