辉隆股份(002556) - 2022 Q3 - 季度财报

Financial Summary and Performance Overview Key Financial Data In Q3 2022, operating revenue decreased by 25.50% and net profit by 47.05% year-over-year, while year-to-date net profit grew 15.14% with total assets up 7.40% Key Financial Performance (Q3 2022 & YTD) | Metric | Current Period (Q3 2022) (Yuan) | YoY Change | Year-to-Date (YTD) (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,794,165,921.56 | -25.50% | 14,282,687,143.11 | -4.32% | | Net Profit Attributable to Shareholders | 53,487,498.15 | -47.05% | 513,632,319.91 | 15.14% | | Net Profit Attributable to Shareholders (Excl. Non-recurring) | 44,250,118.35 | -53.84% | 456,693,440.12 | 6.81% | | Net Cash Flow from Operating Activities | — | — | 714,145,487.38 | 32.88% | | Basic Earnings Per Share (Yuan/share) | 0.06 | -40.00% | 0.54 | 10.20% | Balance Sheet Metrics | Balance Sheet Metric | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 11,832,690,796.36 | 11,017,283,628.94 | 7.40% | | Owner's Equity Attributable to Shareholders | 4,117,046,409.35 | 3,844,100,044.73 | 7.10% | Non-recurring Gains and Losses Year-to-date, non-recurring gains and losses totaled 56.94 million Yuan, mainly from government subsidies and financial asset gains, offset by asset disposal losses Non-recurring Gains and Losses (Year-to-Date) | Item (Year-to-Date Amount) | Amount (Yuan) | | :--- | :--- | | Government Subsidies | 44,678,379.08 | | Gains/Losses from Transactional Financial Assets/Liabilities | 26,238,779.01 | | Gains/Losses from Disposal of Non-current Assets | -6,180,486.73 | | Total | 56,938,879.79 | Analysis of Major Financial Indicator Changes The company's financial position changed significantly, with increased receivables and long-term borrowings, decreased financial assets, and improved net profit and operating cash flow - Despite a slight year-over-year decrease in operating revenue year-to-date, net profit attributable to parent company owners increased by 15.14%, driven by the company's focus on industrial development and operational quality improvement[14] Balance Sheet Item Changes The balance sheet shows significant adjustments, including a 197.46% increase in accounts receivable and an 877.71% surge in long-term borrowings, with decreases in financial assets and current non-current liabilities - Accounts receivable increased by 197.46% compared to the end of the prior year, primarily due to new outstanding payments not yet due[7] - Long-term borrowings increased by 877.71% compared to the end of the prior year, mainly due to increased long-term borrowings from financial institutions during the reporting period[8] - Transactional financial assets decreased by 95.4% compared to the end of the prior year, primarily due to the maturity and recovery of purchased structured deposits[7] - Non-current liabilities due within one year decreased by 90.14% compared to the end of the prior year, mainly due to the repayment of matured long-term borrowings during the reporting period[8] Income Statement Item Changes Year-to-date, income statement items show significant changes, with sales expenses up 31.14%, other income up 53.79%, and asset impairment losses up 901.61%, yet overall net profit grew - Sales expenses increased by 31.14% compared to the same period last year, primarily due to increased salaries and benefits for operating personnel[10] - Investment income from associates and joint ventures decreased by 57.20% compared to the same period last year[13] - Asset impairment losses increased by 901.61% compared to the same period last year, primarily due to increased inventory write-downs recognized during the reporting period[13] - Net after-tax other comprehensive income increased by 1310.36% year-over-year, mainly influenced by foreign currency translation differences[13] Cash Flow Statement Item Changes Year-to-date, operating cash flow increased by 32.88%, investment cash outflow decreased, but financing cash flow significantly declined by 214.62% due to increased debt repayments - Net cash flow from operating activities increased by 32.88% compared to the same period last year, primarily due to a decrease in cash paid for goods purchased and services received during the reporting period[15] - Net cash flow from investing activities increased by 39.97% compared to the same period last year, primarily due to a decrease in cash paid for the acquisition of long-term assets and investments[17] - Net cash flow from financing activities decreased by 214.62% compared to the same period last year, primarily due to an increase in cash paid for debt repayment during the reporting period[17] Shareholder Information Major Shareholder Holdings As of the reporting period, the company had 26,719 common shareholders, with Anhui Huilong Investment Group Co., Ltd. as the largest at 37.45%, and a diversified top ten shareholder structure - As of the end of the reporting period, the total number of common shareholders was 26,719[19] Top Ten Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares Held | Pledged Shares | | :--- | :--- | :--- | :--- | | Anhui Huilong Investment Group Co., Ltd. | 37.45% | 357,244,325 | 192,320,000 | | Xie Fengxian | 2.57% | 24,548,006 | - | | Yu Ronglin | 1.99% | 19,007,518 | - | | Hong Kong Securities Clearing Company Limited | 1.30% | 12,374,735 | - | | Xie Fengmiao | 1.21% | 11,527,155 | - | - The company maintains a share repurchase account, having repurchased 6,835,700 shares as of the end of the reporting period, with the repurchase plan fully completed[20] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets were 11.83 billion Yuan, up 7.40% from year-end, with total liabilities at 7.47 billion Yuan and parent company owner's equity at 4.12 billion Yuan Consolidated Balance Sheet | Item | Sep 30, 2022 (Yuan) | Jan 1, 2022 (Yuan) | | :--- | :--- | :--- | | Total Assets | 11,832,690,796.36 | 11,017,283,628.94 | | Total Current Assets | 6,527,067,442.62 | 6,291,856,379.26 | | Total Non-current Assets | 5,305,623,353.74 | 4,725,427,249.68 | | Total Liabilities | 7,471,915,692.23 | 6,937,282,514.67 | | Total Current Liabilities | 7,004,450,690.43 | 6,699,956,648.39 | | Total Non-current Liabilities | 467,465,001.80 | 237,325,866.28 | | Total Owner's Equity | 4,360,775,104.13 | 4,080,001,114.27 | | Total Owner's Equity Attributable to Parent Company | 4,117,046,409.35 | 3,844,100,044.73 | Consolidated Income Statement (Year-to-Date) For the first three quarters of 2022, total operating revenue was 14.28 billion Yuan, down 4.32%, while net profit attributable to parent company shareholders reached 513.63 million Yuan, up 15.14% Consolidated Income Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 14,282,687,143.11 | 14,927,179,301.33 | | II. Total Operating Costs | 13,736,832,650.57 | 14,456,056,930.25 | | III. Operating Profit | 611,638,879.19 | 543,846,845.33 | | IV. Total Profit | 609,673,576.33 | 536,416,487.33 | | V. Net Profit | 521,654,306.74 | 481,671,465.99 | | Net Profit Attributable to Parent Company Shareholders | 513,632,319.91 | 446,083,471.08 | | VIII. Basic Earnings Per Share | 0.54 | 0.49 | Consolidated Cash Flow Statement (Year-to-Date) For the first three quarters of 2022, operating cash flow increased by 32.88% to 714.15 million Yuan, investment cash outflow decreased, but financing cash flow significantly declined by 214.62% Consolidated Cash Flow Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 714,145,487.38 | 537,424,321.50 | | Net Cash Flow from Investing Activities | -569,149,527.47 | -948,121,154.90 | | Net Cash Flow from Financing Activities | -368,778,599.17 | -117,212,629.45 | | Net Increase in Cash and Cash Equivalents | -221,380,777.69 | -525,874,411.53 | | Cash and Cash Equivalents at End of Period | 814,617,777.87 | 881,262,507.62 |