第一创业(002797) - 2022 Q3 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators The company faced significant performance pressure in Q3 and YTD 2022, with total operating revenue and net profit declining, despite an 8.54% growth in total assets | Indicator | YTD as of Reporting Period End (CNY) | YTD YoY Change | | :--- | :--- | :--- | | Total Operating Revenue | 1,911,553,194.42 | -20.90% | | Net Profit Attributable to Shareholders of Listed Company | 340,504,746.79 | -45.53% | | Net Cash Flow from Operating Activities | -1,222,003,611.15 | -139.46% | | Basic Earnings Per Share (CNY/share) | 0.08 | -46.67% | | Weighted Average Return on Net Assets | 2.34% | Decrease of 2.08 percentage points | | Total Assets (CNY) | 46,831,835,550.28 | 8.54% (Compared to End of Prior Year) | | Total Equity Attributable to Shareholders of Listed Company (CNY) | 14,569,140,058.71 | 1.04% (Compared to End of Prior Year) | Non-recurring Gains and Losses Items and Amounts YTD, non-recurring gains and losses totaled 46.57 million CNY, primarily from government grants, with financial instrument gains/losses from securities operations classified as recurring | Item | YTD as of Reporting Period End Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 132,909.70 | | Government Grants Recognized in Current Period P&L | 62,454,556.29 | | Other Non-operating Income and Expenses | 19,726,279.69 | | Less: Income Tax Impact | 20,578,436.41 | | Less: Impact on Minority Interests (After Tax) | 15,160,660.42 | | Total | 46,574,648.85 | - As a securities operating institution, the company's gains from holding and disposing of financial investment and derivative instruments are considered ordinary business activities, thus fair value changes and investment income are not disclosed as non-recurring gains and losses[5] Analysis of Changes in Key Financial Indicators and Reasons YTD declines in net profit and EPS were primarily due to decreased total operating revenue; negative operating cash flow resulted from comprehensive changes in financial assets, client funds, repurchase, and lending | Indicator | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | -45.53% | Primarily due to the year-over-year decrease in the company's total operating revenue during the current period | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | -52.58% | Primarily due to the year-over-year decrease in net profit attributable to shareholders of the listed company during the current period | | Net Cash Flow from Operating Activities | -139.46% | Primarily due to the comprehensive impact of changes in financial assets held for trading, client funds for securities trading, repurchase business funds, and funds lent out during the current period | Shareholder Information Common Shareholder Holdings As of the reporting period end, the company had 241,133 common shareholders, with Beijing Capital Group Co Ltd (12.72%) and Huaxi Xinyu Investment Co Ltd (6.72%) as top holders, and some major shareholder holdings were pledged - As of the reporting period end, the company had a total of 241,133 common shareholders[8] | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Beijing Capital Group Co Ltd | State-owned Legal Entity | 12.72% | 534,686,400 | | Huaxi Xinyu Investment Co Ltd | Domestic Non-state-owned Legal Entity | 6.72% | 282,520,966 | | Beijing Jingguorui State-owned Enterprise Reform and Development Fund (Limited Partnership) | Other | 4.99% | 210,119,900 | | Beijing Capital Agribusiness Group Co Ltd | State-owned Legal Entity | 4.99% | 210,119,900 | | Zhejiang Hangmin Industrial Group Co Ltd | Domestic Non-state-owned Legal Entity | 3.34% | 140,435,869 | - Among major shareholders, Beijing Capital Group Co Ltd pledged 232,343,200 shares, and Huaxi Xinyu Investment Co Ltd pledged 126,850,000 shares[8] - Shareholders Huaxi Xinyu Investment Co Ltd and Tang Tianshu participated in margin trading and securities lending business[9] Other Significant Matters Changes in Branch Offices The company optimized its branch network by establishing a new securities business department, upgrading four existing departments to branch companies, and relocating and renaming one in Hangzhou - During the reporting period, the company established a new securities business department, 'First Capital Securities Co Ltd Foshan Shunde Guotai South Road Securities Business Department'[10][11] - The company upgraded four securities business departments in Chongqing, Hefei, Wuhan, and Fuzhou to branch companies, expanding their business scope accordingly[12][13] - Hangzhou Xihu International Science and Technology Building Securities Business Department relocated and was renamed Hangzhou Jinhua South Road Securities Business Department[14] Bond Issuance Status On August 5, 2022, the company completed a public offering of corporate bonds to professional investors, totaling 1.6 billion CNY, across two tranches - Pursuant to CSRC approval, on August 5, 2022, the company completed the issuance of 'First Capital Securities Co Ltd 2022 Public Corporate Bonds to Professional Investors (Second Tranche)', totaling 1.6 billion CNY[15] Quarterly Financial Statements Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement for the period ending September 30, 2022, reflecting its financial position, operating results, and cash flows Consolidated Balance Sheet As of September 30, 2022, total assets increased by 8.54% to 46.83 billion CNY, driven by financial assets held for trading; total liabilities grew 12.49% to 31.68 billion CNY, mainly from repurchase agreements and bonds payable | Key Balance Sheet Items | September 30, 2022 (CNY) | January 1, 2022 (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 46,831,835,550.28 | 43,147,228,477.52 | +8.54% | | Cash and Bank Balances | 8,466,400,023.64 | 8,936,556,654.00 | -5.26% | | Funds Lent Out | 6,200,725,299.95 | 7,481,850,384.38 | -17.12% | | Financial Assets Held for Trading | 20,504,200,775.59 | 16,886,076,520.68 | +21.43% | | Total Liabilities | 31,675,413,109.96 | 28,158,078,350.98 | +12.49% | | Financial Assets Sold Under Repurchase Agreements | 11,498,737,877.04 | 9,896,623,567.98 | +16.19% | | Client Funds for Securities Trading | 8,684,456,985.52 | 8,743,438,683.21 | -0.67% | | Bonds Payable | 6,098,834,922.90 | 4,188,621,947.63 | +45.61% | | Total Equity | 15,156,422,440.32 | 14,989,150,126.54 | +1.12% | Consolidated Income Statement (YTD as of Reporting Period End) In YTD 2022, total operating revenue decreased by 20.90% to 1.91 billion CNY, and net profit attributable to parent company shareholders declined by 45.53% to 341 million CNY, mainly due to reduced investment income | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 1,911,553,194.42 | 2,416,734,945.29 | -20.90% | | Net Fee and Commission Income | 1,293,517,991.21 | 1,248,299,234.37 | +3.62% | | Of which: Net Fee Income from Asset Management Business | 742,845,235.52 | 661,988,961.43 | +12.21% | | Net Interest Income | 157,676,302.07 | 132,148,148.58 | +19.32% | | Investment Income (Losses presented as '-') | 535,516,136.58 | 1,206,305,133.54 | -55.61% | | Gains/Losses from Changes in Fair Value (Losses presented as '-') | -183,135,949.02 | -210,658,199.11 | Loss narrowed | | III. Operating Profit | 368,675,398.51 | 834,403,676.94 | -55.81% | | V. Net Profit | 387,454,827.21 | 692,231,386.25 | -44.03% | | Net Profit Attributable to Parent Company Shareholders | 340,504,746.79 | 625,076,328.23 | -45.53% | Consolidated Cash Flow Statement (YTD as of Reporting Period End) In YTD 2022, net cash flow from operating activities was -1.22 billion CNY, a reversal from prior year, mainly due to increased financial assets held for trading; financing activities generated 1.31 billion CNY net inflow | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,222,003,611.15 | 3,096,646,256.57 | | Net Cash Flow from Investing Activities | 5,400,781.42 | -384,210,521.78 | | Net Cash Flow from Financing Activities | 1,311,441,482.30 | -49,616,246.23 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 1,096,447.56 | -254,211.75 | | Net Increase in Cash and Cash Equivalents | 95,935,100.13 | 2,662,565,276.81 | | Cash and Cash Equivalents at Period End | 10,771,091,850.33 | 12,713,548,166.78 | Audit Opinion The company explicitly stated that the financial information in this quarterly report is unaudited - The company's 2022 third-quarter report is unaudited[24]