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山东墨龙(002490) - 2022 Q3 - 季度财报
2022-10-27 16:00

Main Financial Data Key Accounting Data and Financial Indicators In the first three quarters of 2022, the company's operating performance significantly declined, with revenue down 24.60% and net profit attributable to shareholders turning to a loss of -265.95 million RMB, while total assets slightly increased and shareholder equity decreased by 18.89% Key Financial Indicators for the First Three Quarters of 2022 | Indicator | Year-to-Date (RMB) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 2,220,897,730.20 | -24.60% | | Net Profit Attributable to Shareholders | -265,948,560.19 | -151.87% | | Net Cash Flow from Operating Activities | 25,428,576.40 | 106.98% | | Basic EPS (RMB/share) | -0.3333 | -151.93% | | Total Assets | 4,515,168,533.33 | 1.29% (vs. prior year-end) | | Total Equity Attributable to Shareholders | 1,146,286,567.64 | -18.89% (vs. prior year-end) | Non-recurring Gains and Losses Items and Amounts Year-to-date, the company's total non-recurring gains and losses amounted to 9.63 million RMB, primarily from the reversal of impairment provisions for receivables, government grants received, and payables no longer required to be settled Non-recurring Gains and Losses Items Year-to-Date | Item | Amount Year-to-Date (RMB) | Primary Source | | :--- | :--- | :--- | | Reversal of impairment provisions for receivables subject to separate impairment testing | 6,941,179.49 | Collection of accounts receivable | | Other non-operating income and expenses | 4,638,658.73 | Payables no longer required to be settled and recovery of previously written-off assets | | Government grants | 752,905.98 | Employment stabilization subsidies | | Total | 9,629,383.57 | - | Analysis of Changes in Key Financial Data and Indicators During the reporting period, the company's financial position underwent significant changes, including shifts in asset and liability structures, increased administrative expenses and inventory impairment losses, and a positive turnaround in operating cash flow Balance Sheet Item Variation Analysis As of the reporting period end, the company's balance sheet structure showed significant changes, with notes receivable and notes payable decreasing, while receivables financing and long-term payables surged due to shifts in settlement methods and new financing leases - Key Balance Sheet Changes and Reasons - Notes Receivable: -45.37%, primarily due to a decrease in commercial acceptances received that are not yet due9 - Receivables Financing: +86.42%, primarily due to an increase in goods settled with bank acceptance bills that have not yet been transferred10 - Notes Payable: -83.45%, primarily due to a decrease in goods settled with bank acceptance bills - Accounts Payable: +37.18%, primarily due to some payments for goods not being made on time - Long-term Payables: +92.04%, primarily due to new financing lease activities in the current period Income Statement Item Variation Analysis In the first three quarters of 2022, the company's income statement items showed significant year-over-year changes, including a 42.38% increase in administrative expenses, a 419.92% surge in asset impairment losses primarily from inventory, and a 271.18% rise in non-operating income - Key Income Statement Changes and Reasons - Administrative Expenses: +42.38%, primarily due to insufficient operation of some workshops, with related expenses reclassified to this account11 - Asset Impairment Losses: -419.92%, primarily due to significant inventory impairment losses recognized in the current period - Non-operating Income: +271.18%, primarily due to an increase in payables no longer required to be settled and recovery of previously written-off assets in the current period Cash Flow Statement Item Variation Analysis During the reporting period, cash flow showed structural improvement, with operating cash flow turning positive due to reduced payments, investing cash flow turning negative due to no asset disposals, and financing cash outflow significantly narrowing Changes in Net Cash Flow for the First Three Quarters of 2022 | Item | Jan-Sep 2022 (RMB) | Change Percentage | Primary Reason | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 25,428,576.40 | 106.98% | Decrease in payments for goods in current period | | Net Cash Flow from Investing Activities | -8,584,655.77 | -107.42% | No cash recovery from asset disposals in current period | | Net Cash Flow from Financing Activities | -47,143,640.15 | 89.18% | Increase in cash received from financing activities compared to prior year period | Shareholder Information Common Shareholder Ownership As of the reporting period end, the company had 51,645 common shareholders, with the top three being Shouguang Molong Holding Co., Ltd. (29.53%), HKSCC Nominees Limited (13.19%), and Shandong Zhimeng Holding Co., Ltd. (9.20%), with four entities including Shandong Zhimeng Holding acting in concert - As of the reporting period end, the company had 51,645 common shareholders, comprising 51,602 A-shareholders and 43 H-shareholders14 Top Three Shareholders' Ownership | Shareholder Name | Shareholder Nature | Shareholding Percentage | | :--- | :--- | :--- | | Shouguang Molong Holding Co., Ltd. | State-owned Legal Entity | 29.53% | | HKSCC Nominees Limited | Overseas Legal Entity | 13.19% | | Shandong Zhimeng Holding Co., Ltd. | Domestic Non-state-owned Legal Entity | 9.20% | - Shandong Zhimeng Holding Co., Ltd., Shouguang Hongsen Logistics Co., Ltd., Shouguang Panjin Real Estate Co., Ltd., and Shouguang Ruisen New Building Materials Co., Ltd. are parties acting in concert15 Other Significant Matters - During the reporting period, the company had no other significant matters requiring disclosure16 Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets were 4.52 billion RMB (up 1.29% from year-start), total liabilities 3.44 billion RMB (up 11.04%), and equity attributable to parent company shareholders 1.15 billion RMB (down 18.89%) due to expanded accumulated losses Key Consolidated Balance Sheet Items (Unit: Billion RMB) | Item | Sep 30, 2022 | Jan 1, 2022 | | :--- | :--- | :--- | | Total Assets | 4.52 | 4.46 | | Total Liabilities | 3.44 | 3.10 | | Total Equity Attributable to Parent Company Shareholders | 1.15 | 1.41 | | Accumulated Losses | -0.70 | -0.43 | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2022, total operating revenue was 2.22 billion RMB (down 24.6%), total operating costs 2.48 billion RMB (down 17.9%), resulting in an operating loss of -286 million RMB and a net loss attributable to parent company shareholders of -266 million RMB, indicating an expanded loss year-over-year Key Consolidated Income Statement Items (Unit: Billion RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 2.22 | 2.95 | | II. Total Operating Costs | 2.48 | 3.02 | | III. Operating Profit | -0.29 | -0.08 | | IV. Total Profit | -0.28 | -0.08 | | V. Net Profit | -0.28 | -0.08 | | Net Profit Attributable to Parent Company Shareholders | -0.27 | -0.11 | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2022, net cash flow from operating activities significantly improved to 25.43 million RMB, while investing activities turned to a net outflow of 8.58 million RMB, and financing cash outflow substantially narrowed, with the period-end cash and cash equivalents balance at 379 million RMB Key Consolidated Cash Flow Statement Items (Unit: Billion RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 0.03 | -0.36 | | Net Cash Flow from Investing Activities | -0.01 | 0.12 | | Net Cash Flow from Financing Activities | -0.05 | -0.44 | | Net Increase in Cash and Cash Equivalents | -0.04 | -0.69 | | Cash and Cash Equivalents at Period End | 0.38 | 0.02 | Audit Information The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited27