威星智能(002849) - 2021 Q1 - 季度财报

Important Notice The company's board, supervisory board, and senior management guarantee the accuracy and completeness of this quarterly report, while key financial officers confirm the integrity of the financial statements - The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, assuming legal responsibility for no false records, misleading statements, or material omissions[3] - Company head Huang Wenqian, chief accountant Huang Huabing, and head of accounting department Chen Zhiyuan declare the truthfulness, accuracy, and completeness of the financial statements in this quarterly report[4] Company Profile This section provides an overview of the company's key financial performance and shareholder structure for the reporting period Key Accounting Data and Financial Indicators In Q1 2021, the company achieved 22.09% year-over-year revenue growth, but net profit attributable to shareholders decreased by 24.82%, with operating cash flow outflow increasing by 33.26% to RMB 108 million, indicating revenue growth without profit and increased working capital pressure Key Financial Data and Indicators | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 313,201,295.48 | 256,530,151.29 | 22.09% | | Net Profit Attributable to Shareholders (RMB) | 11,078,066.32 | 14,734,413.91 | -24.82% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 10,699,851.84 | 14,467,965.52 | -26.04% | | Net Cash Flow from Operating Activities (RMB) | -108,025,211.32 | -81,064,614.85 | -33.26% | | Basic Earnings Per Share (RMB/share) | 0.0846 | 0.1125 | -24.80% | | Total Assets (RMB) | 1,738,943,987.72 | 1,848,201,253.56 | -5.91% (vs. end of prior year) | | Net Assets Attributable to Shareholders (RMB) | 779,297,767.18 | 767,820,468.87 | 1.49% (vs. end of prior year) | - During the reporting period, non-recurring gains and losses totaled RMB 378,214.48, primarily from government grants and wealth management income[8] Shareholder Information As of the end of the reporting period, the company had 11,500 common shareholders, with controlling shareholder Huang Wenqian holding 21.74% of shares, some of which are pledged, and Shenzhen Zhongran Technology Co., Ltd. as the second largest shareholder with 12.23% - At the end of the reporting period, the company had 11,500 common shareholders[11] Top Ten Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | Pledge or Freeze Status | | :--- | :--- | :--- | :--- | | Huang Wenqian | 21.74% | 28,790,650 | Pledged 15,300,000 | | Shenzhen Zhongran Technology Co., Ltd. | 12.23% | 16,200,000 | - | | Fan Huiqun | 6.37% | 8,430,600 | - | | Ma Shanbing | 3.48% | 4,608,800 | - | | Zhan Zhenhui | 1.65% | 2,190,000 | Frozen 2,190,000 | Significant Events This section details significant changes in key financial data, wealth management activities, and other important matters during the reporting period Analysis of Major Financial Data Changes During the reporting period, several financial indicators showed significant changes, including a 702.72% increase in prepayments due to material purchases, an 87.39% decrease in employee compensation due to bonus payments, a 38.30% rise in operating costs due to new revenue standard adjustments, and substantial fluctuations in investment cash flows primarily from wealth management product investments Major Financial Data Changes and Reasons | Item | Change Percentage | Primary Reason | | :--- | :--- | :--- | | Balance Sheet Items | | | | Prepayments | 702.72% | Primarily due to increased prepayments for material purchases | | Other Receivables | 76.33% | Primarily due to increased bid deposits, rental deposits, and travel expense advances | | Other Current Assets | -93.69% | Primarily due to a decrease in deductible input VAT | | Employee Compensation Payable | -87.39% | Primarily due to the payment of bonuses accrued at the beginning of the period | | Income Statement Items | | | | Operating Costs | 38.30% | According to new revenue standards, transportation and miscellaneous expenses incurred before transfer of control are included in operating costs | | Financial Expenses | -2731.10% | Primarily due to an increase in interest income during the current period | | Cash Flow Statement Items | | | | Cash Received Related to Other Investment Activities | 46318.80% | Primarily due to increased investment in wealth management products during the current period | | Cash Paid for Acquisition of Fixed Assets and Other Long-term Assets | 228.42% | Primarily due to increased long-term asset investments by the company during the current period | Wealth Management During the reporting period, the company invested RMB 60 million of idle self-owned funds in a structured deposit product from Shanghai Pudong Development Bank, which matured on March 1, 2021, successfully recovering principal and RMB 222,000 in income Wealth Management Product Details | Entrusted Institution | Product Type | Amount (RMB 10k) | Source of Funds | Status | | :--- | :--- | :--- | :--- | :--- | | Shanghai Pudong Development Bank | Structured Deposit | 6,000 | Idle Self-owned Funds | Matured and Recovered | - The actual return from this wealth management product was RMB 222,000, with an expected annualized yield of 2.96%[22] Other Significant Matters During the reporting period, the company had no progress on significant matters, overdue unfulfilled commitments, securities investments, derivative investments, fundraising project progress, major contracts, illegal guarantees, controlling shareholder fund occupation, or investor relations activities - The company had no share repurchases, overdue unfulfilled commitments, securities investments, derivative investments, fundraising project progress, major operating contracts, illegal external guarantees, controlling shareholder fund occupation, or investor relations activities during the reporting period[17][18][19][20][21][23][24][25] Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for Q1 2021, including balance sheets, income statements, and cash flow statements Financial Statement Summary 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, showing a slight asset contraction, revenue growth with profit decline, and net cash outflow from operations Consolidated Balance Sheet Summary As of March 31, 2021, total assets were RMB 1.739 billion, a 5.91% decrease from year-end, total liabilities were RMB 891 million, a 12.20% decrease, and equity attributable to parent company owners was RMB 779 million, a 1.49% increase Consolidated Balance Sheet | Item | March 31, 2021 (RMB) | December 31, 2020 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,738,943,987.72 | 1,848,201,253.56 | -5.91% | | Total Liabilities | 891,065,621.68 | 1,014,903,344.14 | -12.20% | | Total Equity Attributable to Parent Company Owners | 779,297,767.18 | 767,820,468.87 | 1.49% | Consolidated Income Statement Summary In Q1 2021, total operating revenue reached RMB 313 million, a 22.09% year-over-year increase, but operating costs rose 38.30%, leading to a 35.38% decline in operating profit and a 24.82% decrease in net profit attributable to parent company shareholders to RMB 11.08 million Consolidated Income Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 313,201,295.48 | 256,530,151.29 | 22.09% | | Total Operating Costs | 296,690,554.58 | 228,268,420.76 | 30.00% | | Operating Profit | 16,291,843.26 | 25,213,367.55 | -35.38% | | Net Profit Attributable to Parent Company Shareholders | 11,078,066.32 | 14,734,413.91 | -24.82% | Consolidated Cash Flow Statement Summary In Q1 2021, net cash flow from operating activities was a RMB 108 million outflow, a 33.26% increase in outflow from the prior year's RMB 81 million outflow, primarily due to increased payments for goods and services, with net cash outflows of RMB 12.26 million from investing activities and RMB 5.27 million from financing activities Consolidated Cash Flow Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -108,025,211.32 | -81,064,614.85 | -33.26% | | Net Cash Flow from Investing Activities | -12,260,004.86 | -3,575,062.60 | -242.93% | | Net Cash Flow from Financing Activities | -5,274,297.89 | 30,182,779.69 | -117.48% | | Net Increase in Cash and Cash Equivalents | -125,559,514.07 | -54,456,897.76 | -130.56% | Audit and Adjustment Notes The company explicitly states this quarterly report is unaudited and no adjustments were made to the opening financial statements for the first-time adoption of new lease standards in 2021 - The company's Q1 2021 report is unaudited[52] - The company did not adjust its financial statements due to the first-time adoption of new lease standards starting in 2021[52]