道道全(002852) - 2021 Q1 - 季度财报

Part I Important Notice The Board, Supervisory Board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility Important Notice The Board, Supervisory Board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[4] - All directors attended the Board of Directors meeting to review this quarterly report[5] - Company head Liu Jianjun, chief financial officer Deng Kai, and head of accounting department Chen Jun declare that the financial statements in the quarterly report are true, accurate, and complete[5] Part II Company Profile This section details the company's key financial performance, shareholder structure, and related party relationships for the reporting period I. Key Accounting Data and Financial Indicators The company's Q1 2021 showed strong financial performance with significant revenue and net profit growth, positive operating cash flow, and improved profitability Key Accounting Data and Financial Indicators for Q1 2021 | Indicator | Current Period (Yuan) | Prior Year Same Period (Yuan) | YoY Change (%) | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | 33.98% | - | - | - | | Net Profit Attributable to Shareholders of Listed Company | 81,630,459.36 | 41,795,410.59 | 95.31% | - | - | - | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 68,728,162.19 | 26,636,988.78 | 158.02% | - | - | - | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | 125.98% | - | - | - | | Basic Earnings Per Share (Yuan/share) | 0.30 | 0.15 | 100.00% | - | - | - | | Diluted Earnings Per Share (Yuan/share) | 0.30 | 0.15 | 100.00% | - | - | - | | Weighted Average Return on Net Assets | 4.38% | 2.10% | 2.28% | - | - | - | | Total Assets | - | - | - | 3,525,079,198.88 | 3,457,936,124.56 | 1.94% | | Net Assets Attributable to Shareholders of Listed Company | - | - | - | 1,904,449,420.49 | 1,824,434,689.05 | 4.39% | Non-Recurring Gains and Losses Items and Amounts | Item | Amount from Year Start to End of Reporting Period (Yuan) | | :--- | :--- | | Government Subsidies Included in Current Period P&L | 4,704,733.91 | | Fair Value Change Gains/Losses and Investment Income from Trading Financial Assets, Derivative Financial Assets, etc., excluding effective hedge accounting related to normal business operations | 8,655,224.32 | | Other Non-Operating Income and Expenses excluding the above | 360,840.59 | | Less: Income Tax Impact | 672,248.29 | | Impact on Minority Interests (After Tax) | 146,253.36 | | Total | 12,902,297.17 | II. Total Number of Shareholders and Top Ten Shareholders' Holdings at Period End As of the period end, the company had 22,757 common shareholders, with Liu Jianjun as the largest shareholder (29.71%) and associated entities - The total number of common shareholders at the end of the reporting period was 22,757[12] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledge or Freeze Status (Share Status/Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Jianjun | Domestic Natural Person | 29.71% | 85,853,138 | 64,389,853 | - | | Hunan Xingchuang Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 20.17% | 58,287,543 | 0 | - | | Sichuan Mingchuang Heda Commercial Partnership (Limited Partnership) | Other | 6.00% | 17,340,000 | 0 | - | | Bao Lilin | Domestic Natural Person | 3.21% | 9,267,652 | 6,950,739 | - | | Jiang Rong | Domestic Natural Person | 2.83% | 8,185,885 | 0 | - | | Xu Dandi | Domestic Natural Person | 2.64% | 7,624,207 | 7,624,207 | - | | Yueyang Cheng Rui Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.52% | 4,389,994 | 0 | Pledged 3,860,000 | | Zhang Jun | Domestic Natural Person | 0.63% | 1,834,973 | 1,376,230 | - | | Li Dengmei | Domestic Natural Person | 0.46% | 1,314,985 | 1,314,985 | - | | Zhejiang Bihu Investment Management Co., Ltd. - Bihu Huanyu Growth No. 3 Private Securities Investment Fund | Other | 0.35% | 1,000,384 | 0 | - | - Liu Jianjun holds 90% of Xingchuang Investment and 10.83% of Mingchuang Commercial, establishing an associated relationship between Liu Jianjun, Xingchuang Investment, Mingchuang Commercial, and the listed company. Bao Lilin, Xu Dandi, Zhang Jun, and Li Dengmei are partners of Mingchuang Commercial, also forming associated relationships with the listed company[13] Part III Significant Events This section outlines major financial and operational changes, fundraising progress, and other significant corporate activities during the reporting period I. Changes and Reasons for Key Financial Data and Indicators in the Reporting Period The company experienced significant changes across its financial statements, including increased trading financial assets and prepayments, higher revenue and costs, reduced selling expenses, increased financial expenses, and improved operating cash flow Balance Sheet Item Changes and Reasons (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 40,174,794.52 | - | 100.00% | Mainly due to the purchase of wealth management products with idle funds in the current period | | Derivative Financial Assets | 2,431,860.00 | 236,040.00 | 930.27% | Mainly due to increased floating gains from non-highly effective hedging contracts at the end of the current period | | Prepayments | 396,842,562.11 | 210,471,671.68 | 88.55% | Mainly due to increased prepayments for raw material purchases in the current period | | Other Current Assets | 75,193,671.51 | 108,230,780.09 | -30.52% | Mainly due to decreased input VAT credit in the current period | | Accounts Payable | 197,849,181.51 | 299,288,244.61 | -33.89% | Mainly due to payments for raw materials and project costs in the current period | | Contract Liabilities | 153,588,794.15 | 252,886,805.88 | -39.27% | Mainly due to the fulfillment of prior performance obligations in the current period | | Employee Benefits Payable | 5,622,231.34 | 19,307,771.56 | -70.88% | Mainly due to the payment of 2020 year-end bonuses in the current period | | Taxes Payable | 33,993,153.94 | 16,554,281.24 | 105.34% | Mainly due to increased VAT payable in the current period | | Deferred Income Tax Liabilities | - | 621,646.88 | -100.00% | Mainly due to the reversal of internal transaction losses in the current period | Income Statement Item Changes and Reasons (Current Period vs. Prior Year Same Period) | Item | Current Period Amount (Yuan) | Prior Year Same Period Amount (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | 33.98% | Mainly due to increased sales prices and volumes of main products compared to the prior year same period | | Operating Cost | 1,176,550,111.42 | 878,779,052.14 | 33.88% | Mainly due to increased revenue in the current period; additionally, transportation costs are reclassified to operating costs under new revenue standards | | Selling Expenses | 19,957,952.17 | 42,337,451.69 | -52.86% | Mainly due to transportation costs related to contracts being reclassified to operating costs under new revenue standards in the current period | | Financial Expenses | 5,740,011.30 | -397,815.64 | 1542.88% | Mainly due to increased bank loan interest in the current period | | Other Income | 4,704,733.91 | 1,665,335.45 | 182.51% | Mainly due to increased government subsidies received in the current period | | Investment Income | 1,096,234.32 | 9,455,381.36 | -88.41% | Mainly due to decreased wealth management income and reduced realized gains from non-highly effective hedging contracts in the current period | | Fair Value Change Gains | 7,558,990.00 | 3,734,406.51 | 102.41% | Mainly due to increased floating gains from non-highly effective hedging contracts at the end of the current period | | Credit Impairment Losses | 999,790.61 | -418,669.70 | -338.80% | Mainly due to the reversal of bad debt provisions at the end of the current period | | Non-Operating Income | 446,890.74 | 4,179,106.87 | -89.31% | Mainly due to decreased insurance claim receipts in the current period | Cash Flow Statement Item Changes and Reasons (Current Period vs. Prior Year Same Period) | Item | Current Period Amount (Yuan) | Prior Year Same Period Amount (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | 125.98% | Mainly due to increased sales receipts in the current period | | Net Cash Flow from Investing Activities | -187,223,877.92 | 99,741,009.66 | -287.71% | Mainly due to increased project payments and reduced redemption of wealth management products in the current period | | Net Cash Flow from Financing Activities | 184,193,487.56 | 141,026,617.29 | 30.61% | Mainly due to increased bank loan funds in the current period | | Net Increase in Cash and Cash Equivalents | 28,916,772.65 | 118,082,158.27 | -75.51% | Mainly due to increased project payments and reduced redemption of wealth management products in the current period | II. Progress of Significant Events, Their Impact, and Analysis of Solutions The company's A-share private placement plan for up to 1 billion yuan for processing projects and working capital has been approved, and a share repurchase plan was terminated - The company's non-public issuance of A-shares plan received approval from the China Securities Regulatory Commission on April 17, 2021, with an estimated total fundraising of no more than 1 billion yuan, to be used for edible oil processing projects in Jingjiang, Yueyang, Maoming, and to supplement working capital[20][21] - The company terminated its share repurchase plan on February 28, 2020, having cumulatively repurchased 15,031,695 shares, representing 5.20% of the total share capital, with a total transaction amount of 208,171,448.12 yuan. The repurchased shares will be used for purposes such as conversion into convertible bonds issued by the listed company[22] III. Unfulfilled Commitments by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company at the End of the Reporting Period No overdue unfulfilled commitments by the controlling shareholder, shareholders, related parties, acquirers, or the company were identified during the reporting period - The company had no overdue unfulfilled commitments from its controlling shareholder, shareholders, related parties, acquirers, or the company itself during the reporting period[22] IV. Financial Asset Investments The company had no securities investments but engaged in commodity futures hedging, reporting a 921,400 yuan profit and implementing internal controls for risk management - The company had no securities investments during the reporting period[23] Derivative Investment Status (Commodity Futures Contracts) | Derivative Investment Type | Initial Investment Amount of Derivative (10,000 Yuan) | Beginning Investment Amount (10,000 Yuan) | Amount Purchased During Reporting Period (10,000 Yuan) | Amount Sold During Reporting Period (10,000 Yuan) | Period-End Investment Amount (10,000 Yuan) | Period-End Investment Amount as % of Company's Net Assets | Actual Profit/Loss Amount During Reporting Period (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Commodity Futures Contracts | 4,101.45 | -2,120.94 | 112,408.13 | 100,288.46 | -1,383.42 | -0.70% | 92.14 | | Total | 4,101.45 | -2,120.94 | 112,408.13 | 100,288.46 | -1,383.42 | -0.70% | 92.14 | - The company uses commodity futures for hedging to mitigate price fluctuation risks of raw materials and finished products, and has established 'Internal Control System for Futures Hedging' and 'Management Measures and Operating Rules for Futures Hedging' for risk management[24] V. Progress of Fundraising Investment Projects There was no progress on fundraising investment projects during the reporting period - The company had no progress on fundraising investment projects during the reporting period[26] VI. Forecast of Operating Performance for January-June 2021 The company did not provide a forecast or warning for potential losses or significant changes in operating performance for January-June 2021 - The company did not forecast its operating performance for January-June 2021, and there is no situation where cumulative net profit might be a loss or significantly change compared to the prior year same period[26] VII. Significant Contracts in Ordinary Course of Business There were no significant contracts in the ordinary course of business during the reporting period - The company had no significant contracts in the ordinary course of business during the reporting period[26] VIII. Entrusted Wealth Management The company invested 200 million yuan in bank wealth management products using its own funds, with 40 million yuan outstanding and no overdue amounts Entrusted Wealth Management Status | Specific Type | Source of Funds for Entrusted Wealth Management | Amount of Entrusted Wealth Management (10,000 Yuan) | Outstanding Balance (10,000 Yuan) | Overdue Unrecovered Amount (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 20,000 | 4,000 | 0 | | Total | - | 20,000 | 4,000 | 0 | - The company had no high-risk entrusted wealth management products with significant individual amounts, low security, poor liquidity, or non-guaranteed principal during the reporting period, nor were there any situations where principal was expected to be unrecoverable or other impairment-causing circumstances[27] IX. Irregular External Guarantees There were no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[28] X. Non-Operating Fund Occupation by Controlling Shareholder and Related Parties There was no non-operating fund occupation by the controlling shareholder or related parties during the reporting period - The company had no non-operating fund occupation by its controlling shareholder or related parties during the reporting period[29] XI. Registration Form for Investor Relations Activities During the Reporting Period No investor relations activities, including research visits, communications, or interviews, occurred during the reporting period - The company did not conduct any investor relations activities such as research visits, communications, or interviews during the reporting period[30] Part IV Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for Q1 2021 I. Financial Statements This section presents the company's consolidated and parent company financial statements for Q1 2021, detailing financial position and operating results 1. Consolidated Balance Sheet As of March 31, 2021, consolidated total assets reached 3.525 billion yuan, driven by increased trading financial assets and prepayments, with short-term borrowings also rising Consolidated Balance Sheet Key Data (As of March 31, 2021) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 410,528,799.00 | 381,612,026.35 | | Trading Financial Assets | 40,174,794.52 | - | | Derivative Financial Assets | 2,431,860.00 | 236,040.00 | | Prepayments | 396,842,562.11 | 210,471,671.68 | | Inventories | 683,000,022.56 | 875,340,721.92 | | Total Current Assets | 1,756,284,115.43 | 1,753,810,874.50 | | Fixed Assets | 730,100,616.72 | 739,283,578.41 | | Construction in Progress | 785,097,577.84 | 711,150,345.39 | | Total Non-Current Assets | 1,768,795,083.45 | 1,704,125,250.06 | | Total Assets | 3,525,079,198.88 | 3,457,936,124.56 | | Short-term Borrowings | 949,808,212.82 | 760,946,194.44 | | Derivative Financial Liabilities | 16,266,080.00 | 21,445,480.00 | | Accounts Payable | 197,849,181.51 | 299,288,244.61 | | Contract Liabilities | 153,588,794.15 | 252,886,805.88 | | Total Current Liabilities | 1,467,391,343.94 | 1,479,971,774.94 | | Total Liabilities | 1,556,200,062.82 | 1,572,162,761.10 | | Total Equity Attributable to Parent Company Shareholders | 1,904,449,420.49 | 1,824,434,689.05 | | Total Liabilities and Equity | 3,525,079,198.88 | 3,457,936,124.56 | 2. Parent Company Balance Sheet As of March 31, 2021, parent company total assets reached 2.377 billion yuan, with significant increases in cash, receivables, prepayments, and inventories, and a near doubling of current liabilities Parent Company Balance Sheet Key Data (As of March 31, 2021) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 376,584,715.49 | 198,559,686.45 | | Trading Financial Assets | 40,174,794.52 | - | | Accounts Receivable | 159,159,791.83 | 100,556,434.00 | | Prepayments | 118,101,587.69 | 67,401,016.43 | | Inventories | 206,059,081.70 | 59,465,620.37 | | Total Current Assets | 1,876,772,191.44 | 1,387,922,629.72 | | Long-term Equity Investments | 455,730,991.05 | 455,730,991.05 | | Total Assets | 2,377,220,159.86 | 1,888,246,124.96 | | Short-term Borrowings | 472,350,138.88 | 300,586,388.88 | | Derivative Financial Liabilities | 16,266,080.00 | 21,445,480.00 | | Accounts Payable | 14,718,790.38 | 52,279,873.33 | | Other Payables | 375,578,567.96 | 33,441,892.19 | | Total Current Liabilities | 882,372,398.27 | 442,727,512.95 | | Total Liabilities | 891,944,828.64 | 452,553,057.97 | | Total Equity | 1,485,275,331.22 | 1,435,693,066.99 | | Total Liabilities and Equity | 2,377,220,159.86 | 1,888,246,124.96 | 3. Consolidated Income Statement In Q1 2021, consolidated operating revenue grew 33.98% to 1.299 billion yuan, with net profit attributable to parent shareholders increasing 95.31% to 81.63 million yuan Consolidated Income Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | | Operating Cost | 1,176,550,111.42 | 878,779,052.14 | | Selling Expenses | 19,957,952.17 | 42,337,451.69 | | Financial Expenses | 5,740,011.30 | -397,815.64 | | Other Income | 4,704,733.91 | 1,665,335.45 | | Investment Income | 1,096,234.32 | 9,455,381.36 | | Fair Value Change Gains | 7,558,990.00 | 3,734,406.51 | | Operating Profit | 92,941,442.17 | 48,151,578.34 | | Total Profit | 93,302,282.76 | 52,216,149.76 | | Net Profit | 84,721,500.52 | 40,930,971.67 | | Net Profit Attributable to Parent Company Shareholders | 81,630,459.36 | 41,795,410.59 | | Basic Earnings Per Share | 0.30 | 0.15 | | Diluted Earnings Per Share | 0.30 | 0.15 | 4. Parent Company Income Statement In Q1 2021, parent company operating revenue grew 6.56% to 257 million yuan, achieving a net profit of 49.93 million yuan from a prior-year loss Parent Company Income Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 256,849,587.33 | 241,038,075.18 | | Operating Cost | 200,126,312.82 | 227,717,756.47 | | Selling Expenses | 9,973,632.58 | 10,584,354.01 | | Financial Expenses | 2,812,677.60 | -224,130.65 | | Other Income | 1,759,516.65 | 136,641.79 | | Investment Income | 1,096,234.32 | 7,075,046.76 | | Fair Value Change Gains | 7,718,600.00 | -8,691,093.49 | | Operating Profit | 49,894,077.43 | -4,311,133.10 | | Total Profit | 49,925,644.23 | -2,770,740.37 | | Net Profit | 49,925,644.23 | -2,770,740.37 | 5. Consolidated Cash Flow Statement In Q1 2021, net operating cash flow turned positive to 31.95 million yuan, a 125.98% increase, while investing activities saw significant outflows and financing activities had substantial inflows Consolidated Cash Flow Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,527,949,714.53 | 1,042,648,401.25 | | Subtotal of Cash Outflows from Operating Activities | 1,496,003,447.00 | 1,165,600,860.63 | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | | Subtotal of Cash Inflows from Investing Activities | 160,000,510.00 | 236,927,854.83 | | Subtotal of Cash Outflows from Investing Activities | 347,224,387.92 | 137,186,845.17 | | Net Cash Flow from Investing Activities | -187,223,877.92 | 99,741,009.66 | | Subtotal of Cash Inflows from Financing Activities | 410,000,000.00 | 190,000,000.00 | | Subtotal of Cash Outflows from Financing Activities | 225,806,512.44 | 48,973,382.71 | | Net Cash Flow from Financing Activities | 184,193,487.56 | 141,026,617.29 | | Net Increase in Cash and Cash Equivalents | 28,916,772.65 | 118,082,158.27 | | Period-End Balance of Cash and Cash Equivalents | 410,528,799.00 | 362,483,629.28 | 6. Parent Company Cash Flow Statement In Q1 2021, parent company net operating cash flow increased to 48.81 million yuan, while investing activities showed a net outflow and financing activities significantly increased due to borrowings Parent Company Cash Flow Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,776,654,773.55 | 1,366,413,603.05 | | Subtotal of Cash Outflows from Operating Activities | 1,727,843,489.64 | 1,321,894,620.39 | | Net Cash Flow from Operating Activities | 48,811,283.91 | 44,518,982.66 | | Subtotal of Cash Inflows from Investing Activities | 160,000,510.00 | 236,927,854.83 | | Subtotal of Cash Outflows from Investing Activities | 200,432,657.00 | 107,658,232.95 | | Net Cash Flow from Investing Activities | -40,432,147.00 | 129,269,621.88 | | Subtotal of Cash Inflows from Financing Activities | 200,000,000.00 | 30,000,000.00 | | Subtotal of Cash Outflows from Financing Activities | 30,354,111.12 | 48,896,586.30 | | Net Cash Flow from Financing Activities | 169,645,888.88 | -18,896,586.30 | | Net Increase in Cash and Cash Equivalents | 178,025,029.04 | 154,900,056.48 | | Period-End Balance of Cash and Cash Equivalents | 376,584,715.49 | 348,013,083.80 | II. Explanation of Financial Statement Adjustments The company adopted new leasing standards in 2021 without retrospective adjustment to prior period financial statements - The company adopted new leasing standards for the first time in 2021 but did not retrospectively adjust the financial statements at the beginning of the first adoption year or prior comparative data[58] III. Audit Report The company's Q1 2021 report remains unaudited - The company's first quarter report is unaudited[58]