四维图新(002405) - 2021 Q1 - 季度财报

Important Notice Board of Directors' Statement The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report and its financial statements - Company management guarantees the truthfulness, accuracy, and completeness of this quarterly report and financial statements[3] Company Overview Key Accounting Data and Financial Indicators In Q1 2021, revenue grew and net loss narrowed, driven by chip and big data services, while operating cash flow declined due to delayed inflows and increased prepayments, and assets significantly increased from a stock offering Key Financial Indicators for Q1 2021 | Indicator | Current Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 519,179,587.92 | 394,590,435.47 | 31.57% | | Net Profit Attributable to Shareholders (RMB) | -45,189,086.43 | -72,593,034.98 | 37.75% | | Net Cash Flow from Operating Activities (RMB) | -178,433,427.07 | 6,627,918.00 | -2792.15% | | Basic Earnings Per Share (RMB/share) | -0.0220 | -0.0375 | 41.33% | | Asset Indicators | End of Current Period | End of Prior Year | Year-on-Year Change | | Total Assets (RMB) | 12,976,913,519.23 | 9,205,912,179.86 | 40.96% | | Net Assets Attributable to Shareholders (RMB) | 11,676,385,412.80 | 7,759,474,927.30 | 50.48% | - During the reporting period, the company completed a non-public offering of 320 million new shares, leading to a significant increase in total assets and net assets attributable to the parent company[4] - Revenue and net profit growth were primarily driven by increased chip revenue and location big data service revenue, alongside a low base effect from the prior year's pandemic[4] - Operating cash flow significantly decreased due to delayed cash inflows corresponding to revenue growth and increased prepayments for purchases[4] Shareholder Information As of the reporting period end, the company had 205,508 common shareholders, with China Siwei, Tencent, and HKEX Clearing as top holders, and Tencent reducing its stake Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | China Siwei Surveying and Mapping Technology Co., Ltd. | State-owned Legal Person | 8.56% | 195,278,651 | | Shenzhen Tencent Industry Investment Fund Co., Ltd. | Domestic Non-state-owned Legal Person | 5.00% | 114,056,490 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 4.19% | 95,543,484 | | Beijing E-Town International Industrial Investment Management Co., Ltd... | Other | 3.51% | 80,000,000 | | E Fund Management Co., Ltd. - Central Huijin... | Other | 2.86% | 65,180,925 | - As of the reporting period end, the company had a total of 205,508 common shareholders[9] - Shenzhen Tencent Industry Investment Fund Co., Ltd. reduced its stake through block trades, with its holding percentage decreasing from 6.10% to 4.999996% (5% in the table due to rounding)[11][13] Significant Matters Analysis of Changes in Key Financial Data Significant financial data changes include increased monetary funds and capital reserves from a stock offering, higher revenue from chip and big data, reduced financial expenses from interest income, and substantial operating cash outflow offset by financing inflow Changes in Key Financial Items and Reasons | Item | Change Percentage | Main Reason | | :--- | :--- | :--- | | Balance Sheet | | | | Monetary Funds | 254.48% | Due to proceeds from non-public stock offering | | Capital Reserves | 87.67% | Due to proceeds from non-public stock offering | | Development Expenditures | -76.38% | Some R&D projects completed and transferred to intangible assets | | Income Statement | | | | Operating Revenue | 31.57% | Increase in chip revenue and location big data revenue | | Financial Expenses | -415.93% | Increase in interest income from fixed deposits | | Cash Flow Statement | | | | Net Cash Flow from Operating Activities | -2792.15% | Delayed cash inflows from revenue and increased prepayments for purchases | | Net Cash Flow from Financing Activities | 443961.68% | Due to proceeds from non-public stock offering | Progress of Non-Public Offering of A-Shares The company successfully completed a non-public offering of 320 million A-shares in February 2021, raising up to RMB 4 billion, with new shares listed on the Shenzhen Stock Exchange on February 25 - The company completed a non-public offering, with 320 million new shares listed on the Shenzhen Stock Exchange on February 25, 2021[18][19] Progress of Raised Funds Investment Projects Net proceeds of RMB 3.975 billion from the non-public offering are allocated to intelligent vehicle chips, autonomous driving maps, and cloud platform projects, all progressing smoothly with key development phases underway - Net proceeds of RMB 3.975 billion have been received and are allocated to intelligent vehicle chips, autonomous driving maps, cloud platform, and other projects[22] - All raised fund investment projects are progressing smoothly: the intelligent connected vehicle chip R&D project (AC8025) has completed preliminary design validation; the autonomous driving map project is undergoing architecture setup and data collection; the main framework of the autonomous driving cloud platform project has been largely completed[22] Other Significant Matters The company had no overdue commitments, securities or derivative investments, major contracts, or illegal guarantees, but used RMB 30 million for bank wealth management products, with no investor relations activities - The company used RMB 30 million of idle self-owned funds to purchase bank wealth management products[25] - During the reporting period, there were no significant contracts, illegal guarantees, securities investments, or investor research activities[20][21][24][26][27] Financial Statements Financial Statements This section presents the unaudited Q1 2021 consolidated and parent company financial statements, showing increased total assets from fundraising, but a net loss and negative operating cash flow Consolidated Balance Sheet Consolidated Balance Sheet Summary (As of March 31, 2021) | Item | Amount (RMB) | | :--- | :--- | | Assets | | | Total Current Assets | 6,557,619,997.66 | | Total Non-current Assets | 6,419,293,521.57 | | Total Assets | 12,976,913,519.23 | | Liabilities and Owners' Equity | | | Total Current Liabilities | 1,144,987,283.97 | | Total Non-current Liabilities | 26,754,998.29 | | Total Liabilities | 1,171,742,282.26 | | Total Equity Attributable to Parent Company Shareholders | 11,676,385,412.80 | | Non-controlling Interests | 128,785,824.17 | | Total Equity | 11,805,171,236.97 | | Total Liabilities and Equity | 12,976,913,519.23 | Consolidated Income Statement Consolidated Income Statement Summary (Q1 2021) | Item | Amount (RMB) | | :--- | :--- | | I. Total Operating Revenue | 519,179,587.92 | | II. Total Operating Costs | 557,017,537.14 | | Of which: Operating Costs | 203,062,315.02 | | Research and Development Expenses | 258,482,457.62 | | III. Operating Profit (Loss indicated by "-") | -49,446,056.71 | | IV. Total Profit (Total Loss indicated by "-") | -49,450,357.59 | | V. Net Profit (Net Loss indicated by "-") | -52,646,119.15 | | Net Profit Attributable to Parent Company Shareholders | -45,189,086.43 | | Non-controlling Interests | -7,457,032.72 | | VIII. Earnings Per Share | | | (I) Basic Earnings Per Share | -0.0220 | | (II) Diluted Earnings Per Share | -0.0220 | Consolidated Cash Flow Statement Consolidated Cash Flow Statement Summary (Q1 2021) | Item | Amount (RMB) | | :--- | :--- | | I. Net Cash Flow from Operating Activities | -178,433,427.07 | | II. Net Cash Flow from Investing Activities | -137,664,553.21 | | III. Net Cash Flow from Financing Activities | 3,999,954,201.62 | | IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents | -8,951,854.06 | | V. Net Increase in Cash and Cash Equivalents | 3,674,904,367.28 | | Add: Cash and Cash Equivalents at Beginning of Period | 1,427,578,975.33 | | VI. Cash and Cash Equivalents at End of Period | 5,102,483,342.61 | Explanation of Financial Statement Adjustments The company adopted new leasing standards from January 1, 2021, but due to short-term leases and simplified treatment, no adjustments to opening balance sheet items were required - The company adopted new leasing standards from January 1, 2021, but due to short-term leasing, chose not to recognize right-of-use assets and lease liabilities, thus no adjustment to opening balances was required[49] Audit Report The company's Q1 2021 report is unaudited - This quarterly report is unaudited[50]