成都路桥(002628) - 2021 Q3 - 季度财报

Important Notice This report emphasizes that the board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, and states that the financial information has not been audited - The board of directors, supervisory board, and senior management guarantee the report's truthfulness, accuracy, and completeness, and assume legal responsibility[2][3] - The company's head, the person in charge of accounting, and the head of the accounting department declare that the financial information in the quarterly report is true, accurate, and complete[3] - This third-quarter report is unaudited[4] I. Major Financial Data This chapter outlines the company's key financial performance at the end of the reporting period and from the beginning of the year to the end of the reporting period, including changes in operating revenue, net profit, and cash flow, detailing non-recurring gains and losses and their impact on net profit, and explaining the reasons for changes in major accounting data and financial indicators Major Accounting Data and Financial Indicators During the reporting period, the company's operating revenue decreased by 29.10% year-on-year, and net profit attributable to shareholders significantly decreased by 94.83%; from the beginning of the year to the end of the reporting period, operating revenue decreased by 14.08% year-on-year, but net profit attributable to shareholders increased by 1.78%, and non-recurring net profit increased by 52.55%; net cash flow from operating activities was negative but improved by 41.56% year-on-year Major Financial Indicators for the Current Reporting Period and Year-to-Date | Indicator | Current Reporting Period | YoY Change in Current Reporting Period | Year-to-Date | YoY Change in Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 287,574,979.48 | -29.10% | 1,170,531,066.82 | -14.08% | | Net Profit Attributable to Shareholders (CNY) | 924,302.56 | -94.83% | 59,956,030.19 | 1.78% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (CNY) | 1,396,222.25 | -91.04% | 86,350,681.84 | 52.55% | | Net Cash Flow from Operating Activities (CNY) | —— | —— | -497,641,075.99 | 41.56% | | Basic Earnings Per Share (CNY/share) | 0.002 | -90.00% | 0.11 | 37.50% | | Diluted Earnings Per Share (CNY/share) | 0.002 | -90.00% | 0.11 | 37.50% | | Weighted Average Return on Net Assets | 0.05% | -0.58% | 2.96% | 0.85% | Balance Sheet Indicators at the End of the Current Reporting Period and Previous Year-End | Indicator | End of Current Reporting Period | End of Previous Year | Change from Previous Year-End | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 7,832,674,963.62 | 7,733,050,927.61 | 1.29% | | Shareholders' Equity Attributable to Listed Company (CNY) | 2,950,648,450.89 | 2,884,394,820.81 | 2.30% | Non-Recurring Gains and Losses and Amounts During the reporting period, the company's total non-recurring gains and losses were negative CNY 471,919.69, and from the beginning of the year to the end of the reporting period, totaled negative CNY 26,394,651.65, primarily including gains and losses from disposal of non-current assets, government subsidies, and gains and losses from transactions with obviously unfair prices Non-Recurring Gains and Losses and Amounts | Item | Amount for Current Reporting Period (CNY) | Amount from Year-Beginning to End of Reporting Period (CNY) | | :--- | :--- | :--- | | Gains and losses from disposal of non-current assets | 17,341.55 | -38,210.18 | | Government subsidies recognized in current profit or loss | 3,500.00 | 58,811.00 | | Gains and losses from transactions with obviously unfair prices, exceeding fair value | | -27,734,420.66 | | Other non-operating income and expenses apart from the above | -491,369.16 | -2,839,638.94 | | Less: Income tax impact | 1,392.08 | -4,158,807.13 | | Total | -471,919.69 | -26,394,651.65 | Changes in Major Accounting Data and Financial Indicators and Their Reasons Several balance sheet, income statement, and cash flow statement items experienced significant changes this period; cash and cash equivalents decreased by 57.89% due to operating cash outflows; long-term receivables significantly increased by 237.69% primarily due to the reclassification of the Dazhou-Xuanhan Expressway project upon completion and acceptance; financial expenses grew by 81.70% due to increased bank loans; and net cash flow from investing activities sharply declined by 328.99% due to land payments for the Tianfu New Area headquarters office building - Cash and cash equivalents decreased by 57.89% at period-end compared to period-beginning, primarily due to cash outflows from operating activities during the current period[9] - Long-term receivables increased by 237.69% at period-end compared to period-beginning, primarily due to the reclassification of the Dazhou-Xuanhan Expressway project from other non-current assets upon completion and acceptance[9] - Intangible assets increased by 3,436.65% at period-end compared to period-beginning, primarily due to the acquisition of land use rights for the Tianfu New Area headquarters office building during the current period[10] - Financial expenses increased by 81.70% this period compared to the previous period, primarily due to an increase in bank loans during the current period[10] - Net cash flow from investing activities decreased by 328.99% this period compared to the previous period, primarily due to land payments for the Tianfu New Area headquarters office building during the current period[11] - Net cash flow from financing activities decreased by 83.55% this period compared to the previous period, primarily due to a decrease in new bank loans compared to the same period last year[11] II. Shareholder Information As of the end of the reporting period, the company had 38,771 common shareholders; among the top ten shareholders, Sichuan Hongyi Jiahua Industrial Co., Ltd. held the largest stake at 24.01%, with some of its shares frozen; some shareholders have related party relationships or act in concert and participate in margin trading and securities lending Total Number of Common Shareholders and Shareholding of Top Ten Shareholders At the end of the reporting period, the total number of common shareholders was 38,771; among the top ten shareholders, Sichuan Hongyi Jiahua Industrial Co., Ltd. held 24.01% of shares, with 96,148,478 shares frozen; Sichuan Daochengli Industrial Investment Co., Ltd., Chengdu Jiangkai Real Estate Co., Ltd., and Zhou Weigang are acting in concert - The total number of common shareholders at the end of the reporting period was 38,771[13] Shareholding of Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | Number of Restricted Shares Held | Pledge, Mark, or Freeze Status | Quantity | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Sichuan Hongyi Jiahua Industrial Co., Ltd. | Domestic Non-State-Owned Legal Person | 24.01% | 182,148,478 | | Frozen | 96,148,478 | | Sichuan Daochengli Industrial Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 2.18% | 16,561,388 | | | | | Chengdu Jiangkai Real Estate Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.92% | 14,600,000 | | | | | Qiu Hongmei | Domestic Natural Person | 1.11% | 8,402,818 | | | | | Zhou Weigang | Domestic Natural Person | 0.83% | 6,295,752 | 120,000 | | | | Na Tianrui | Domestic Natural Person | 0.69% | 5,262,400 | | | | | Shui Guoxia | Domestic Natural Person | 0.63% | 4,816,800 | | | | | Liao Kaiming | Domestic Natural Person | 0.55% | 4,205,260 | | | | | Yang Zejiang | Domestic Natural Person | 0.54% | 4,095,684 | | | | | Wang Yugong | Domestic Natural Person | 0.53% | 3,995,160 | | | | - Sichuan Daochengli Industrial Investment Co., Ltd., Chengdu Jiangkai Real Estate Co., Ltd., and Zhou Weigang are acting in concert[14] - Some of the top 10 shareholders hold company shares through credit trading guarantee securities accounts and participate in margin trading and securities lending businesses[14] Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred Shareholders The company has no preferred shareholders - The company has no preferred shareholders[15] III. Other Important Matters The company has no other important matters to disclose during the reporting period - The company has no other important matters to disclose[15] IV. Quarterly Financial Statements This chapter provides the company's consolidated balance sheet as of September 30, 2021, consolidated income statement and consolidated cash flow statement from the beginning of the year to the end of the reporting period, and explains the adjustments made to the opening financial statements upon initial adoption of the new leasing standards Financial Statements This section details the company's consolidated balance sheet as of September 30, 2021, and consolidated income statement and consolidated cash flow statement from the beginning of the year to the end of the reporting period, reflecting the company's financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet As of September 30, 2021, the company's total assets were CNY 7,832,674,963.62, an increase of 1.29% from the end of the previous year; total current assets were CNY 3,462,052,179.82, and total non-current assets were CNY 4,370,622,783.80; total liabilities were CNY 4,807,696,159.53, and total owners' equity was CNY 3,024,978,804.09 Key Consolidated Balance Sheet Data (September 30, 2021 vs December 31, 2020) | Item | September 30, 2021 (CNY) | December 31, 2020 (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Total Assets | 7,832,674,963.62 | 7,733,050,927.61 | 1.29% | | Total Current Assets | 3,462,052,179.82 | 3,694,682,026.04 | -6.30% | | Total Non-Current Assets | 4,370,622,783.80 | 4,038,368,901.57 | 8.23% | | Total Liabilities | 4,807,696,159.53 | 4,773,394,675.65 | 0.72% | | Total Owners' Equity | 3,024,978,804.09 | 2,959,656,251.96 | 2.21% | - Long-term receivables increased from CNY 986 million to CNY 3.329 billion, a 237.69% increase, primarily due to the reclassification of the Dazhou-Xuanhan Expressway project upon completion and acceptance[16][9] - Intangible assets increased from CNY 2.04 million to CNY 72.23 million, a 3,436.65% increase, primarily due to the acquisition of land use rights for the Tianfu New Area headquarters office building[17][10] Consolidated Income Statement from Year-Beginning to End of Reporting Period From the beginning of the year to the end of the reporting period, the company's total operating revenue was CNY 1,170,531,066.82, a year-on-year decrease of 14.08%; net profit was CNY 59,024,952.24, a slight year-on-year decrease; financial expenses significantly increased by 81.70% due to increased bank loans Key Consolidated Income Statement Data (Year-Beginning to End of Reporting Period) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,170,531,066.82 | 1,362,394,743.25 | -14.08% | | Total Operating Costs | 1,323,512,763.55 | 1,455,678,736.51 | -9.08% | | Financial Expenses | 128,298,702.10 | 70,609,569.57 | 81.70% | | Operating Profit | 70,924,562.60 | 81,191,433.64 | -12.65% | | Total Profit | 68,070,820.77 | 81,058,391.34 | -16.02% | | Net Profit | 59,024,952.24 | 61,200,514.71 | -3.56% | | Net Profit Attributable to Parent Company Owners | 59,956,030.19 | 58,907,484.55 | 1.78% | | Basic Earnings Per Share (CNY) | 0.11 | 0.08 | 37.50% | - Financial expenses significantly increased by 81.70%, primarily due to an increase in bank loans during the current period[20][10] - Credit impairment losses for the current period were CNY 70,747,065.60, a significant increase from CNY 26,319,668.73 in the prior period, primarily due to better collections this period, leading to a reversal of credit impairment losses according to accounting policies[21][10] Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period From the beginning of the year to the end of the reporting period, net cash flow from operating activities was -CNY 497,641,075.99, a 41.56% year-on-year improvement, mainly due to reduced project expenditures; net cash flow from investing activities was -CNY 71,399,420.79, a significant year-on-year decrease of 328.99%, primarily impacted by land payments for the Tianfu New Area headquarters office building; net cash flow from financing activities was CNY 97,129,965.23, a year-on-year decrease of 83.55%, mainly due to reduced new bank loans Key Consolidated Cash Flow Statement Data (Year-Beginning to End of Reporting Period) | Item | Amount for Current Period (CNY) | Amount for Prior Period (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -497,641,075.99 | -851,587,854.97 | 41.56% | | Net Cash Flow from Investing Activities | -71,399,420.79 | 31,180,711.99 | -328.99% | | Net Cash Flow from Financing Activities | 97,129,965.23 | 590,550,782.99 | -83.55% | | Net Increase in Cash and Cash Equivalents | -471,910,531.55 | -229,856,359.99 | -105.31% | | Cash and Cash Equivalents at Period-End | 331,481,720.39 | 555,139,597.56 | -40.29% | - Net cash flow from operating activities improved by 41.56% year-on-year, primarily due to a decrease in project expenditures compared to the same period last year[23][10] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets significantly increased by 863.72%, primarily due to land payments for the Tianfu New Area headquarters office building during the current period[23][10] - Net cash flow from financing activities decreased by 83.55% year-on-year, primarily due to a decrease in new bank loans compared to the same period last year[23][11] Explanation of Financial Statement Adjustments The company first adopted the new leasing standards starting in 2021, adjusting relevant items in the opening financial statements as of January 1, 2021, primarily involving changes in right-of-use assets, long-term deferred expenses, non-current liabilities due within one year, and lease liabilities - The company first adopted the new leasing standards starting in 2021 and adjusted the opening financial statements as of January 1, 2021[24] Impact of New Leasing Standards Adjustments on Opening Balance Sheet | Item | December 31, 2020 (CNY) | January 01, 2021 (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Right-of-use assets | | 12,755,048.14 | 12,755,048.14 | | Long-term deferred expenses | 4,036,543.63 | 4,008,030.93 | -28,512.70 | | Non-current liabilities due within one year | 108,455,595.35 | 112,877,153.44 | 4,421,558.09 | | Lease liabilities | | 8,304,977.35 | 8,304,977.35 | | Total Assets | 7,733,050,927.61 | 7,745,777,463.05 | 12,726,535.44 | | Total Liabilities | 4,773,394,675.65 | 4,786,121,211.09 | 12,726,535.44 | - The company did not retrospectively adjust prior period comparative data[28] Audit Report The company's third-quarter report is unaudited - The company's third-quarter report is unaudited[28]