英飞拓(002528) - 2023 Q3 - 季度财报

Main Financial Data Core Accounting Data and Financial Indicators In the first three quarters of 2023, the company's operating revenue decreased by 23.84% year-on-year, and net profit attributable to shareholders expanded to a loss of RMB 375 million, a 51.58% year-on-year decrease; total assets and shareholder equity significantly declined, yet net cash flow from operating activities substantially improved, increasing by 595.76% year-on-year Main Financial Indicators for the First Three Quarters of 2023 | Indicator | Year-to-Date as of Reporting Period End | Year-to-Date Change vs. Prior Period (%) | | :--- | :--- | :--- | | Operating Revenue (RMB) | 986,985,332.07 | -23.84% | | Net Profit Attributable to Shareholders (RMB) | -374,524,486.64 | -51.58% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains/Losses (RMB) | -385,167,907.65 | -51.58% | | Net Cash Flow from Operating Activities (RMB) | 283,374,214.27 | 595.76% | | Basic Earnings Per Share (RMB/share) | -0.3124 | -51.58% | | Total Assets (RMB) | 3,299,488,192.89 | -26.33% (vs. end of prior year) | | Shareholders' Equity Attributable to Shareholders (RMB) | 886,645,402.65 | -29.13% (vs. end of prior year) | Non-Recurring Gains/Losses Items and Amounts In the first three quarters of 2023, the company's total non-recurring gains and losses amounted to RMB 10.64 million, primarily from government grants (RMB 8.45 million) and reversal of impairment provisions for individually tested receivables (RMB 5.23 million) Non-Recurring Gains/Losses Items for the First Three Quarters of 2023 | Item | Year-to-Date Amount as of Reporting Period End (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 1,039,551.61 | | Government Grants Recognized in Current Profit/Loss | 8,454,626.32 | | Enterprise Restructuring Expenses | -3,136,616.00 | | Reversal of Impairment Provisions for Individually Tested Receivables | 5,225,470.96 | | Net Other Non-Operating Income and Expenses | 934,427.78 | | Less: Income Tax Impact | 1,874,039.66 | | Total | 10,643,421.01 | Analysis of Major Financial Data Changes The company attributes performance decline to macroeconomic factors and enhanced project quality control, leading to reduced revenue from solution and digital operation services; despite a net loss of RMB 375 million in the first three quarters, operating loss after excluding impairment was RMB 178 million, a 15% year-on-year reduction, with significantly improved operating cash flow due to controlled financing and optimized staffing, though total assets and liabilities consequently decreased - The company is positioned as a smart city solution provider, constructor, and operator; in the first three quarters of 2023, operating loss after excluding impairment was RMB 178 million, a 15% year-on-year reduction, and net cash flow from operating activities was RMB 283 million, a 596% year-on-year increase[8] Balance Sheet Major Item Changes and Reasons | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | -46.40% | Due to controlled financing scale | | Financial Assets Held for Trading | -96.63% | Due to redemption of structured deposits | | Long-term Equity Investments | 5372.00% | Due to new investments in associates | | Construction in Progress | 66.20% | Due to increased investment in Hangzhou Infiton Building project | | Short-term Borrowings | -43.00% | Due to controlled financing scale and reduced external financing | | Non-current Liabilities Due Within One Year | -84.52% | Due to controlled financing scale and reduced external financing | Income Statement Major Item Changes and Reasons | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | -23.84% | Affected by macroeconomic factors and the company's enhanced project quality control, leading to a decrease in revenue from solution and digital operation services | | Credit Impairment Losses | -387.24% | Due to increased provision for doubtful debts on long-term receivables | | Gains from Asset Disposal | 1380.95% | Due to disposal of fixed assets | | Income Tax Expense | 158.64% | Due to changes in deferred income tax expense | Cash Flow Statement Major Item Changes and Reasons | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 595.76% | Due to better operating cash flow than the same period last year and increased collection/payment of intercompany balances | | Net Cash Flow from Investing Activities | 141.74% | Due to the impact of structured deposit redemptions | | Net Cash Flow from Financing Activities | -1705.34% | Due to controlled financing scale and reduced external financing | Shareholder Information Shareholder Structure and Shareholding As of the reporting period end, the company had 146,794 common shareholders, with Shenzhen Investment Holdings Co., Ltd. as the largest state-owned shareholder holding 26.35%, and the second and third largest shareholders, JEFFREY ZHAOHUAI LIU and his controlled entity JHL INFINITE LLC, acting in concert with a significant combined stake - As of the reporting period end, the company had a total of 146,794 common shareholders[12] Top Three Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage (%) | Number of Shares Held | | :--- | :--- | :--- | :--- | | Shenzhen Investment Holdings Co., Ltd. | State-owned Legal Entity | 26.35% | 315,831,160 | | JEFFREY ZHAOHUAI LIU | Overseas Natural Person | 16.29% | 195,320,972 | | JHL INFINITE LLC | Overseas Legal Entity | 16.13% | 193,366,623 | - Among the top 10 shareholders, JHL INFINITE LLC is controlled by JEFFREY ZHAOHUAI LIU, and Liu Zhaohuai, JHL, and Zhang Yanfeng are parties acting in concert[13] Other Significant Matters Progress of Raised Funds Utilization The company raised RMB 733 million in net proceeds from a non-public offering in 2016; as of September 30, 2023, a total of RMB 808 million including interest and wealth management income has been utilized, with RMB 357 million re-purposed for permanent replenishment of working capital, leaving approximately RMB 11.6 million in the raised funds account - The net proceeds from the 2016 non-public offering amounted to RMB 733,084,019.60[14] - As of September 30, 2023, a total of RMB 808 million in raised funds has been utilized, with RMB 357 million re-purposed for permanent replenishment of working capital, and the remaining account balance is RMB 11,599,845.63[15] Quarterly Financial Statements Consolidated Balance Sheet Presents the detailed composition of the company's consolidated assets, liabilities, and owners' equity as of September 30, 2023, with a comparison to year-end data Consolidated Income Statement Details the consolidated operating revenue, costs, expenses, profit, and earnings per share for the period from January 1 to September 30, 2023 Consolidated Cash Flow Statement Illustrates the company's cash inflows and outflows from operating, investing, and financing activities during the first three quarters of 2023 Audit Status Explicitly states that this quarterly financial report is unaudited - The company's 2023 third-quarter report is unaudited[26]