王子新材(002735) - 2021 Q1 - 季度财报

Important Notice The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume corresponding legal responsibilities - The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume corresponding legal responsibilities[3] - All directors attended the board meeting reviewing this quarterly report, and the company's head and chief financial officer guarantee the truthfulness, accuracy, and completeness of the financial statements[4] Company Profile This section provides an overview of the company's key financial performance indicators and detailed shareholder information for the reporting period Key Accounting Data and Financial Indicators In Q1 2021, the company achieved significant performance growth, with operating revenue increasing by 51.00% and net profit attributable to parent company shareholders by 81.77%, primarily due to business recovery after the prior year's pandemic impact; however, net cash flow from operating activities turned negative, decreasing by 114.89% year-over-year Key Financial Indicators for Q1 2021 | Indicator | Current Period | Prior Period | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 359,750,484.15 | 238,244,388.06 | 51.00% | | Net Profit Attributable to Shareholders (Yuan) | 12,754,155.66 | 7,016,833.47 | 81.77% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) (Yuan) | 12,311,411.30 | 5,942,133.64 | 107.19% | | Net Cash Flow from Operating Activities (Yuan) | -4,239,783.40 | 28,471,055.12 | -114.89% | | Basic Earnings Per Share (Yuan/share) | 0.08 | 0.05 | 60.00% | | Weighted Average Return on Net Assets | 1.63% | 1.06% | Increased by 0.57 percentage points | - During the reporting period, the company's total non-recurring gains and losses amounted to 442,744.36 Yuan, primarily derived from government grants[8] Shareholder Information As of the end of the reporting period, the company had 6,961 common shareholders, with controlling shareholder Wang Jinjun holding 35.87% of shares, some of which are pledged, and several top shareholders are members of the same family - At the end of the reporting period, the company had 6,961 common shareholders[11] Top Five Shareholders' Shareholding Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | | Wang Jinjun | 35.87% | 54,732,435 | Pledged 14,300,000 | | Wang Wujun | 6.07% | 9,256,417 | - | | Jiangsu Manjiang Bitou Technology Development Co., Ltd. | 4.61% | 7,034,986 | - | | Wang Xiaojun | 3.76% | 5,740,000 | - | | Liang Jianhong | 2.53% | 3,862,802 | - | - Shareholders Wang Jinjun, Wang Wujun, Wang Xiaojun, and Wang Juan are members of the same family, constituting a related party relationship[12] Significant Matters This section details significant financial changes, the progress of key corporate actions, and other material events during the reporting period Analysis of Major Financial Data Changes and Reasons During the reporting period, the company experienced significant changes in several financial indicators, with substantial increases in operating revenue and net profit primarily due to business normalization after a low base in the prior year impacted by the pandemic, while net operating cash flow sharply declined due to funds occupied by operating payables, and both short-term and long-term borrowings increased due to new bank loans and the recognition of right-of-use assets under new lease standards Changes in Key Financial Indicators | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 51.00% | Due to the impact of the pandemic in the prior year, the reporting period saw a return to normal operations | | Net Profit Attributable to Parent Company Shareholders | 81.77% | Due to the impact of the pandemic in the prior year, the reporting period saw a return to normal operations | | Net Cash Flow from Operating Activities | -114.89% | Primarily due to funds occupied by operating payables in the current period | | Net Cash Flow from Financing Activities | 116.01% | Due to increased cash inflow from bank borrowings in the current period | | Short-term Borrowings | 46.08% | Due to new bank borrowings in the current period | | Long-term Borrowings | 100.00% | Due to new bank borrowings in the current period | | Right-of-use Assets | 100.00% | Due to the adoption of new lease standards in the current period | Progress of Significant Matters During the reporting period, the company advanced two significant matters: the planned acquisition of the remaining 49% equity in Wuhan Zhongdian Huarui Technology Development Co., Ltd. through share issuance and cash payment to achieve full ownership, and the ongoing process of repurchasing and canceling 86,700 restricted shares held by a former incentive recipient - The company plans to acquire 49% equity in Wuhan Zhongdian Huarui through share issuance and cash payment, which will result in 100% ownership upon completion of the transaction, pending approval from the China Securities Regulatory Commission[17] - The company is processing the repurchase and cancellation of 86,700 restricted shares held by Cai Hua, a former incentive recipient[18] Other Significant Matters During the reporting period, the company had no overdue unfulfilled commitments, no securities or derivative investments, no irregular external guarantees, or non-operating funds occupied by the controlling shareholder, and hosted one on-site institutional research visit on January 29, 2021 - The company had no securities investments, derivative investments, irregular external guarantees, or controlling shareholder fund occupation during the reporting period[19][20][23][24] - On January 29, 2021, the company hosted an on-site research visit from Qianwen Jinsheng Capital Management (Ganzhou) Co., Ltd[25] Financial Statements This section presents the company's consolidated and parent company financial statements for the first quarter of 2021, along with explanations for adjustments and the audit status Financial Statements This section provides the company's consolidated and parent company financial statements for Q1 2021, including the balance sheet, income statement, and cash flow statement, comprehensively reflecting the company's financial position, operating results, and cash flows Consolidated Balance Sheet As of March 31, 2021, the company's total assets were 1.626 billion Yuan, a 2.01% increase from the end of the previous year, with total liabilities at 696 million Yuan and total equity attributable to parent company owners at 785 million Yuan, maintaining a stable asset-liability structure Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | March 31, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,625,989,029.55 | 1,594,000,512.93 | 2.01% | | Total Liabilities | 696,283,727.92 | 679,092,589.39 | 2.53% | | Total Equity Attributable to Parent Company Owners | 785,261,499.52 | 773,887,662.28 | 1.47% | Consolidated Income Statement In Q1 2021, the company achieved total operating revenue of 360 million Yuan, a 51.00% year-over-year increase, and net profit attributable to parent company shareholders of 12.7542 million Yuan, an 81.77% year-over-year increase, with basic earnings per share at 0.08 Yuan Key Items from Consolidated Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 359,750,484.15 | 238,244,388.06 | 51.00% | | Total Operating Costs | 345,813,069.35 | 235,385,627.69 | 46.91% | | Total Profit | 17,467,862.68 | 7,698,695.00 | 126.90% | | Net Profit Attributable to Parent Company Shareholders | 12,754,155.66 | 7,016,833.47 | 81.77% | | Basic Earnings Per Share | 0.08 | 0.05 | 60.00% | Consolidated Cash Flow Statement In Q1 2021, the company's net cash flow from operating activities was -4.24 million Yuan, turning negative year-over-year, with net cash outflow from investing activities of 17.82 million Yuan and net cash inflow from financing activities of 59.735 million Yuan, primarily from new borrowings, resulting in a period-end cash and cash equivalents balance of 157 million Yuan Key Items from Consolidated Cash Flow Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -4,239,783.40 | 28,471,055.12 | | Net Cash Flow from Investing Activities | -17,819,617.46 | -15,824,212.07 | | Net Cash Flow from Financing Activities | 59,734,956.26 | 27,653,528.33 | | Net Increase in Cash and Cash Equivalents | 37,838,642.98 | 41,012,887.15 | Explanation of Financial Statement Adjustments Effective January 1, 2021, the company adopted new lease standards, adjusting its financial statements at the date of initial application (January 1, 2021) by recognizing 45.218 million Yuan in right-of-use assets and corresponding lease liabilities in the consolidated balance sheet, without retrospective adjustment of prior period comparative data - The company adopted new lease standards for the first time on January 1, 2021, and adjusted relevant accounts in its opening financial statements accordingly[50] Impact of New Lease Standards Adoption on Opening Consolidated Balance Sheet | Adjusted Item | Before Adjustment (Dec 31, 2020) | After Adjustment (Jan 01, 2021) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Right-of-use Assets | 0.00 | 45,218,470.36 | +45,218,470.36 | | Lease Liabilities | 0.00 | 45,218,470.36 | +45,218,470.36 | Audit Report The company's Q1 2021 report is unaudited - This quarterly report is unaudited[56]