星网宇达(002829) - 2020 Q1 - 季度财报

Section I Important Notice The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, with all directors attending the review meeting and key financial personnel affirming the financial statements' accuracy - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, with all directors attending the review meeting and key financial personnel affirming the financial statements' accuracy[4][5] Section II Company Profile I. Key Accounting Data and Financial Indicators During the reporting period, the company achieved significant growth in operating revenue and net profit attributable to shareholders, though net cash flow from operating activities remained negative with an expanded year-on-year decrease, and non-recurring gains contributed positively to net profit Key Financial Indicators | Indicator | Current Reporting Period (CNY) | Prior Year Same Period (CNY) | Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 98,288,339.01 | 79,750,719.91 | 23.24% | | Net Profit Attributable to Shareholders | 10,214,358.81 | 4,066,470.73 | 151.18% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Gains/Losses) | 8,407,350.67 | 2,955,881.28 | 184.43% | | Net Cash Flow from Operating Activities | -42,387,845.41 | -36,373,298.00 | -16.54% | | Basic Earnings Per Share (CNY/share) | 0.07 | 0.03 | 133.33% | | Diluted Earnings Per Share (CNY/share) | 0.07 | 0.03 | 133.33% | | Weighted Average Return on Net Assets | 1.17% | 0.48% | 0.69% | Key Financial Data at End of Reporting Period | Indicator | End of Current Reporting Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,483,544,418.76 | 1,482,431,754.25 | 0.08% | | Net Assets Attributable to Shareholders | 877,613,531.13 | 867,399,172.32 | 1.18% | Non-Recurring Gains/Losses and Amounts | Item | Amount from Year Start to End of Reporting Period (CNY) | | :--- | :--- | | Government Grants Included in Current Profit/Loss | 2,183,855.07 | | Other Non-Operating Income and Expenses Apart from the Above | 569.08 | | Less: Income Tax Impact | 327,544.54 | | Minority Shareholder Equity Impact (After Tax) | 49,871.47 | | Total | 1,807,008.14 | II. Total Number of Shareholders and Top Ten Shareholders' Holdings at the End of the Reporting Period As of the end of the reporting period, the company had 11,655 common shareholders. Among the top ten shareholders, Chi Jiasheng and Li Guosheng are acting in concert, holding over 54% of shares combined, with most of their shares pledged - The total number of common shareholders at the end of the reporting period was 11,655[11] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledged or Frozen Status (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Chi Jiasheng | Domestic Natural Person | 28.56% | 44,830,640 | 33,622,980 | Pledged 9,082,300 | | Li Guosheng | Domestic Natural Person | 26.04% | 40,877,204 | 30,657,903 | Pledged 26,291,000 | | Xu Yefeng | Domestic Natural Person | 3.64% | 5,705,536 | 4,279,152 | Pledged 4,455,500 | | Guo Jiabo | Domestic Natural Person | 1.69% | 2,660,000 | 0 | - | | Tianjin Leishi Tianyi Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.51% | 2,377,019 | 0 | - | | Agricultural Bank of China - Huaxia Stable Growth Mixed Securities Investment Fund | Other | 1.23% | 1,925,700 | 0 | - | | Wu Cailian | Domestic Natural Person | 1.02% | 1,600,000 | 0 | - | | Guo Jiaqi | Domestic Natural Person | 1.02% | 1,600,000 | 0 | - | | Liu Yushuang | Domestic Natural Person | 0.50% | 786,900 | 731,850 | Pledged 468,900 | | China Construction Bank Corporation - Changxin National Defense Military Industry Quantitative Flexible Allocation Mixed Securities Investment Fund | Other | 0.48% | 756,867 | 0 | - | - Shareholders Chi Jiasheng and Li Guosheng are acting in concert[12] Section III Significant Events I. Changes and Reasons for Key Financial Data and Indicators During the Reporting Period During the reporting period, several financial indicators changed significantly: cash decreased by 37.49% due to payments, while prepayments and advances from customers increased by 53.61% and 40.57% respectively due to business growth. Sales expenses decreased by 41.86%, other income increased by 120.29% from software tax refunds, investment income sharply declined by 191.91% due to reduced wealth management returns, and income tax expense surged by 3076.43% due to increased profit. Net cash flow from investing activities decreased by 52.70% due to increased fixed asset investments, while net cash flow from financing activities improved due to the prior period's repurchase of restricted shares Balance Sheet Item Changes and Reasons | Item | Period-End Amount (CNY) | Period-Beginning Amount (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 51,605,847.50 | 82,562,321.28 | -37.49% | Increased payments for goods in current period | | Prepayments | 37,818,797.67 | 24,619,567.59 | 53.61% | Increased prepayments for goods in current period | | Other Receivables | 18,253,659.36 | 13,358,690.38 | 36.64% | Increased bid deposits and business receivables in current period | | Other Non-Current Assets | 6,516,092.77 | 10,384,792.77 | -37.25% | Prepaid equipment from prior period accepted and used in current period | | Advances from Customers | 22,846,021.39 | 16,252,665.49 | 40.57% | Increased advances from customers in current period | | Employee Benefits Payable | 11,170,218.71 | 16,673,753.62 | -33.01% | Paid part of year-end bonus in current period | Income Statement Item Changes and Reasons | Item | Current Period Amount (CNY) | Prior Year Same Period Amount (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 3,254,664.98 | 5,597,768.07 | -41.86% | Decreased postage, transportation, and labor costs in current period | | Other Income | 4,559,977.73 | 2,069,977.66 | 120.29% | Increased software tax refunds in current period | | Investment Income | -606,113.89 | 659,446.76 | -191.91% | Decreased wealth management investment income in current period | | Income Tax Expense | 2,848,129.23 | -95,689.32 | 3076.43% | Increased profit and accrued income tax expense in current period | Cash Flow Statement Item Changes and Reasons | Item | Current Period Amount (CNY) | Prior Year Same Period Amount (CNY) | Change Percentage | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | -4,175,779.70 | -2,734,545.23 | -52.70% | Increased fixed asset investment expenditures in current period | | Net Cash Flow from Financing Activities | -19,949,741.53 | -37,381,088.80 | 46.63% | Repurchase of unvested restricted shares in prior period | II. Progress, Impact, and Solutions for Significant Events During the reporting period, the company completed the repurchase and cancellation of some restricted shares, reducing total share capital. Due to policy adjustments, the 2019 non-public offering plan was terminated, and a new 2020 non-public offering plan was announced. Regarding the equity transfer of a controlled subsidiary, the original counterparty failed to pay on time, leading to a performance compensation agreement with the original shareholders and a supplementary agreement with the new counterparty, Chang Jing, adjusting the transfer price and share quantity to maximize investment recovery. Additionally, the company plans to borrow up to CNY 100 million from major shareholders to supplement working capital - On January 7, 2020, the company completed the repurchase and cancellation of 170,800 restricted shares from 22 ineligible incentive recipients, representing 0.1087% of the total share capital, changing total share capital from 157.12522 million shares to 156.95442 million shares[16] - Due to new securities issuance regulations from the China Securities Regulatory Commission, the company terminated its 2019 non-public offering and approved a new 2020 non-public offering plan on March 31, 2020[18][19] - The original counterparty, Chang Jing, failed to make timely payments for the equity transfer of controlled subsidiary Beijing Kaidun Huanyu Technology Co., Ltd., leading to a performance compensation agreement with original shareholders and a supplementary agreement with Chang Jing to acquire 15.934 million shares for CNY 55.45 million by June 30, 2020, aiming to maximize investment recovery[20][21] - The company plans to borrow up to CNY 100 million from controlling shareholders Mr. Chi Jiasheng and Mr. Li Guosheng for working capital, with a 24-month term and interest rate based on the shareholders' financing costs[22] III. Unfulfilled Commitments by Actual Controllers, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period During the reporting period, there were no overdue unfulfilled commitments by the company's actual controllers, shareholders, related parties, acquirers, or the company itself - The company had no overdue unfulfilled commitments from actual controllers, shareholders, related parties, acquirers, or the company itself during the reporting period[26] IV. Securities Investment During the reporting period, the company had no securities investments - The company had no securities investments during the reporting period[27] V. Wealth Management During the reporting period, the company engaged in wealth management using raised funds, with both the amount incurred and the outstanding balance at CNY 1.5 million, and no overdue unrecovered amounts Wealth Management Overview | Specific Type | Source of Wealth Management Funds | Amount Incurred (CNY millions) | Outstanding Balance (CNY millions) | Overdue Unrecovered Amount (CNY millions) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 1.50 | 1.50 | 0 | VI. Derivative Investments During the reporting period, the company had no derivative investments - The company had no derivative investments during the reporting period[29] VII. Irregular External Guarantees During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[30] VIII. Non-Operating Fund Occupation by Controlling Shareholders and Related Parties During the reporting period, there was no non-operating occupation of funds by controlling shareholders or their related parties from the listed company - The company had no non-operating occupation of funds by controlling shareholders or their related parties during the reporting period[31] IX. Registration Form for Investor Relations Activities During the Reporting Period During the reporting period, the company hosted four institutional telephone communication and research activities, with records disclosed on Juchao Information Network Investor Relations Activities During the Reporting Period | Reception Date | Reception Method | Type of Recipient | Index of Basic Research Information | | :--- | :--- | :--- | :--- | | 2020 年 02 月 13 日 | Telephone Communication | Institution | Juchao Information Network "Investor Relations Activity Record Form" No.: 2020-001 | | 2020 年 02 月 14 日 | Telephone Communication | Institution | Juchao Information Network "Investor Relations Activity Record Form" No.: 2020-002 | | 2020 年 02 月 19 日 | Telephone Communication | Institution | Juchao Information Network "Investor Relations Activity Record Form" No.: 2020-003 | | 2020 年 02 月 26 日 | Telephone Communication | Institution | Juchao Information Network "Investor Relations Activity Record Form" No.: 2020-004 | Section IV Financial Statements I. Financial Statements This section presents the company's consolidated and parent company balance sheets, income statements, and cash flow statements for the first quarter of 2020, detailing the financial position, operating results, and cash flows at the end of the reporting period - The consolidated balance sheet presents the company's consolidated financial position as of March 31, 2020, and December 31, 2019[37][38][39][40][41] - The parent company balance sheet presents the company's parent company financial position as of March 31, 2020, and December 31, 2019[41][42][43][44] - The consolidated income statement presents the company's consolidated operating results for the first quarter of 2020 and 2019[45][46][47][48][49] - The parent company income statement presents the company's parent company operating results for the first quarter of 2020 and 2019[50][51][52][53] - The consolidated cash flow statement presents the company's consolidated cash flows for the first quarter of 2020 and 2019[54][55][56][57] - The parent company cash flow statement presents the company's parent company cash flows for the first quarter of 2020 and 2019[58][59][60] II. Explanations of Financial Statement Adjustments The company adopted new revenue recognition standards starting in 2020, which do not impact the consolidated and parent company financial statements at the beginning of the first year of adoption - The company began implementing Accounting Standard No. 14—Revenue (Cai Kuai [2017] No. 22) in 2020, with the new standard not affecting the financial statements at the beginning of the first year of adoption[63][67] III. Audit Report The company's first quarter 2020 report is unaudited - The company's first quarter report is unaudited[68]