众业达(002441) - 2020 Q1 - 季度财报

Important Notice This section provides important declarations from the Board of Directors regarding the report's accuracy and completeness Board of Directors' Statement The Board of Directors, Supervisory Board, and senior management collectively affirm the accuracy and completeness of this quarterly report and its financial statements - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content and bear joint and several legal liabilities[5] - Company head Wu Kaixian, chief accountant Wang Baoyu, and head of accounting department Li Huiyi declare that they guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[6] Company Profile This section details the company's key financial performance and shareholder structure for the reporting period Key Accounting Data and Financial Indicators Q1 2020 saw a 36.24% revenue decline due to the pandemic, a slight 3.30% drop in net profit, but a significant 5,257.46% increase in operating cash flow Key Financial Indicators for Q1 2020 | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,461,595,063.50 | 2,292,351,037.87 | -36.24 | | Net Profit Attributable to Shareholders (RMB) | 87,174,234.49 | 90,147,708.45 | -3.30 | | Net Cash Flow from Operating Activities (RMB) | 253,796,905.37 | -4,920,966.48 | 5,257.46 | | Basic Earnings Per Share (RMB/share) | 0.16 | 0.17 | -5.88 | | Weighted Average Return on Net Assets | 2.24% | 2.39% | -0.15 | | Total Assets (RMB) | 5,557,227,245.88 | 5,365,084,010.13 | 3.58 (vs. end of prior year) | | Net Assets Attributable to Shareholders (RMB) | 3,930,453,952.17 | 3,843,506,612.43 | 2.26 (vs. end of prior year) | - During the reporting period, non-recurring gains and losses totaled RMB 1,238,220.47, primarily from government subsidies[10] Shareholder Information The company has 36,962 common shareholders, with the top four, including controlling shareholder Wu Kaixian, holding over 49% and having family ties - As of the end of the reporting period, the company had a total of 36,962 common shareholders[12] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Type | Holding Percentage (%) | Number of Shares | | :--- | :--- | :--- | :--- | | 吴开贤 | Domestic Natural Person | 29.11 | 158,508,340 | | 颜素贞 | Domestic Natural Person | 8.81 | 48,000,000 | | 吴森岳 | Domestic Natural Person | 5.90 | 32,121,000 | | 吴森杰 | Domestic Natural Person | 5.88 | 32,000,000 | | 金鹰基金-广发银行-金鹰中植产投定增5号 | Domestic Non-State-Owned Legal Person | 4.17 | 22,710,000 | - Among the top ten shareholders, Wu Kaixian and Yan Suzhen are a married couple, and Wu Senjie and Wu Senyue are their sons, forming a concerted action group[13] Significant Matters This section outlines significant financial changes, key business developments, and other material events during the reporting period Analysis of Major Financial Data Changes Significant financial changes occurred due to COVID-19, including a 36.24% revenue drop, balance sheet shifts in receivables and payables related to a Microvast Power equity sale, and reclassification of prepayments under new revenue standards - Operating revenue decreased by 36.24% year-on-year, primarily due to reduced sales impacted by the COVID-19 pandemic[29] - Net cash flow from operating activities was RMB 254 million, a significant year-on-year increase, mainly due to the company adjusting settlement methods with customers and suppliers[38] Major Balance Sheet Item Changes and Reasons | Item | Period-end vs. Period-start Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | +40.74 | Recovery of wealth management products and operating cash inflows/outflows | | Accounts Receivable | +32.18 | Increased due to entering sales period | | Notes Receivable Financing | -47.45 | Adjusted settlement methods with upstream and downstream customers and suppliers | | Other Receivables | +260.88 | Payment of guarantee performance deposit for partial equity sale of Microvast Power | | Other Payables | +182.48 | Receipt of guarantee performance deposit for partial equity sale of Microvast Power | | Prepayments/Contract Liabilities | -100% / Newly added | Reclassified 'Prepayments' to 'Contract Liabilities' due to new revenue standard adoption | Progress of Significant Matters Key developments include rapid growth of the Zhongyeda Mall e-commerce platform, a significant distribution agreement with Schneider Electric, ongoing share repurchase and cancellation, and pending payments from the Microvast Power equity sale - The e-commerce platform Zhongyeda Mall (zydmall) achieved sales of approximately RMB 658 million (including tax) in Q1 2020, a year-on-year increase of 45.9%[54] - The company signed a 2020 annual distribution agreement with Schneider Electric, with a total target procurement amount of RMB 3.147 billion (excluding tax); actual Q1 procurement was RMB 456 million[52][54] - Shareholder Zhongzhi Industrial Investment Co., Ltd., holding over 5%, and its concerted action parties disclosed a new plan to reduce their holdings by no more than 6% of the company's total share capital[51] - The company continues to follow up on the sale of Microvast Power equity, with RMB 108 million in outstanding principal and corresponding interest still due as of the announcement date[49][50] - The company continues to advance the 2017 Restricted Stock Incentive Plan, completing the repurchase and cancellation of some granted but unvested restricted shares during the reporting period[41][47] Other Significant Matters The company engaged in RMB 160 million in entrusted wealth management, with no securities or derivatives investments, no illegal guarantees, and no controlling shareholder fund occupation, while hosting two institutional surveys Entrusted Wealth Management (Unit: RMB 10,000) | Type | Fund Source | Amount Incurred (RMB 10,000) | Outstanding Balance (RMB 10,000) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 14,000 | 10,000 | | Bank Wealth Management Products | Own Funds | 2,000 | 1,000 | | Total | | 16,000 | 11,000 | - During the reporting period, the company had no securities investments, derivative investments, illegal external guarantees, or controlling shareholder fund occupation[56][59][60][61] - The company hosted institutional investor surveys via telephone on February 13 and 14, 2020[62] Financial Statements This section presents the company's unaudited consolidated and parent company financial statements and related adjustments Financial Statement Details This section presents the unaudited consolidated and parent company financial statements as of March 31, 2020, detailing assets, liabilities, equity, income, and cash flows Consolidated Balance Sheet Summary (March 31, 2020) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 5,557,227,245.88 | | Total Liabilities | 1,512,146,691.18 | | Total Equity Attributable to Parent Company Owners | 3,930,453,952.17 | | Total Liabilities and Owners' Equity | 5,557,227,245.88 | Consolidated Income Statement Summary (Q1 2020) | Item | Amount (RMB) | | :--- | :--- | | Total Operating Revenue | 1,461,595,063.50 | | Operating Profit | 117,683,118.04 | | Total Profit | 117,755,963.28 | | Net Profit | 91,765,301.05 | | Net Profit Attributable to Parent Company Owners | 87,174,234.49 | Consolidated Cash Flow Statement Summary (Q1 2020) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 253,796,905.37 | | Net Cash Flow from Investing Activities | -5,634,981.00 | | Net Cash Flow from Financing Activities | -12,377,748.34 | | Net Increase in Cash and Cash Equivalents | 235,556,785.10 | Explanation of Financial Statement Adjustments Effective January 1, 2020, the company adopted new revenue standards, reclassifying Prepayments to Contract Liabilities without impacting total assets, liabilities, or equity - The company first adopted new revenue standards effective January 1, 2020, adjusting relevant items in its opening financial statements[89] - The main adjustment involved reclassifying RMB 208,513,644.76 from Prepayments to Contract Liabilities in the consolidated statements, with no impact on opening net assets[90] Audit Report The company's first quarter 2020 report remains unaudited - The company's first quarter report is unaudited[94]