LHM(SZ:002535)2022-10-27 16:00Key Financial Data Core Financial Indicators The company achieved significant growth in the first three quarters of 2022, with revenue up 105.80% and net profit turning positive Key Financial Indicators for the First Three Quarters of 2022 | Indicator | Year-to-Date | YTD YoY Change | | :--- | :--- | :--- | | Operating Revenue (CNY) | 712,012,979.36 | 105.80% | | Net Profit Attributable to Shareholders (CNY) | 9,376,376.85 | 106.49% | | Net Cash Flow from Operating Activities (CNY) | 69,526,422.71 | 11.02% | | Basic Earnings Per Share (CNY/Share) | 0.0117 | 106.50% | | Total Assets (CNY) | 4,120,610,301.22 | 3.75% (vs. Prior Year-End) | | Equity Attributable to Shareholders (CNY) | 403,689,141.79 | 2.38% (vs. Prior Year-End) | Analysis of Non-recurring Gains and Losses Non-recurring gains and losses totaled CNY 8.45 million in the first three quarters of 2022, primarily from government subsidies Non-recurring Gain and Loss Items for the First Three Quarters of 2022 | Item | YTD Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 1,289,489.89 | | Government Subsidies Included in Current Profit/Loss | 7,666,612.10 | | Other Net Non-operating Income and Expenses | -1,420,676.62 | | Total | 8,452,508.78 | - Net profit excluding non-recurring items was CNY 0.92 million, far below the reported net profit of CNY 9.38 million, indicating a heavy reliance on non-recurring gains4 Analysis of Significant Changes in Financial Statement Items The company's financial position changed significantly, with increased revenue driving up accounts receivable while debt structure was optimized - Operating revenue increased by 105.80% year-over-year, mainly due to improved working capital and released production capacity9 - Financial expenses decreased by 38.59% year-over-year, benefiting from reduced total financing and lower interest rates9 Major Changes in Balance Sheet Items | Item | Change (%) | Reason | | :--- | :--- | :--- | | Accounts Receivable | 31.43% | Due to increased production and corresponding revenue growth | | Contract Liabilities | 255.11% | Due to an increase in advances from customers | | Long-term Borrowings | 205.28% | Due to conversion of some short-term borrowings to long-term | | Right-of-use Assets / Lease Liabilities | - | Due to newly leased equipment | Shareholder Information Major Shareholders' Holdings The company has a highly concentrated ownership structure, with a significant portion of major shareholders' shares being frozen or pledged Top Five Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Ratio (%) | Share Status | | :--- | :--- | :--- | :--- | | Guo Xiansheng | Domestic Natural Person | 29.54% | Frozen, Pledged | | Han Luyun | Domestic Natural Person | 8.80% | Frozen, Pledged | | Guo Shusheng | Domestic Natural Person | 1.34% | Pledged | | Song Quanqi | Domestic Natural Person | 1.00% | Frozen | | Guo Hao | Domestic Natural Person | 0.81% | Frozen | - Key shareholders have related-party relationships: Guo Xiansheng and Han Luyun are husband and wife, Guo Hao is their son; Guo Xiansheng and Guo Shusheng are brothers12 Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, the company's total assets were CNY 4.12 billion, with a high asset-liability ratio of 90.0% Consolidated Balance Sheet Key Data (Unit: CNY) | Item | 2022-09-30 | 2022-01-01 | | :--- | :--- | :--- | | Total Assets | 4,120,610,301.22 | 3,971,565,027.16 | | Total Liabilities | 3,708,771,540.30 | 3,569,917,875.12 | | Short-term Borrowings | 1,240,335,661.88 | 1,688,524,890.19 | | Long-term Borrowings | 331,010,000.00 | 108,430,033.21 | | Total Equity Attributable to Parent Company | 403,689,141.79 | 394,310,552.35 | Consolidated Income Statement The company achieved a turnaround to profitability in Q1-Q3 2022, driven by a 105.80% revenue increase and controlled financial expenses Consolidated Income Statement Key Data (Unit: CNY) | Item | Current Period (Q1-Q3) | Prior Period (Q1-Q3) | | :--- | :--- | :--- | | Total Operating Revenue | 712,012,979.36 | 345,973,021.92 | | Total Operating Costs | 720,030,357.74 | 521,341,501.86 | | Financial Expenses | 73,564,998.44 | 119,792,339.17 | | Total Profit | 17,056,143.36 | -140,395,666.06 | | Net Profit Attributable to Parent Company Shareholders | 9,376,376.85 | -144,421,879.14 | Consolidated Cash Flow Statement Net cash from operating activities was positive, but outflows from investing and financing led to a significant decrease in cash reserves Consolidated Cash Flow Statement Key Data (Unit: CNY) | Item | Current Period (Q1-Q3) | Prior Period (Q1-Q3) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 69,526,422.71 | 62,624,312.12 | | Net Cash Flow from Investing Activities | -24,104,857.11 | 11,359,248.72 | | Net Cash Flow from Financing Activities | -132,475,114.26 | -343,616,205.88 | | Net Increase in Cash and Cash Equivalents | -87,053,548.66 | -269,632,645.04 |