美格智能(002881) - 2020 Q3 - 季度财报

Important Notice This section confirms the management's assurance of the quarterly report's truthfulness, accuracy, and completeness Management Statement The company's board, supervisory board, and senior management guarantee the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's management guarantees the report content is true, accurate, and complete, and assumes legal responsibility[4] - Wang Ping, the company's responsible person, Xia Youqing, the person in charge of accounting work, and Xia Youqing, the head of the accounting department, declare that the financial statements in the quarterly report are true, accurate, and complete[5] Company Profile This section provides an overview of the company's key financial performance indicators and shareholder structure as of Q3 2020 Key Accounting Data and Financial Indicators As of Q3 2020, total assets increased by 18.72% to CNY 932 million, while year-to-date net profit decreased by 20.04% to CNY 12.32 million, and operating cash flow turned negative 2020 Q3 Key Financial Indicators | Indicator | As of Report Period End / Year-to-Date | As of Prior Year End / Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Balance Sheet Items | | | | | Total Assets (CNY) | 931,557,098.00 | 784,635,782.57 | 18.72% | | Net Assets Attributable to Parent Company Owners (CNY) | 561,398,841.97 | 549,079,470.34 | 2.24% | | Income Statement Items (Year-to-Date) | | | | | Operating Revenue (CNY) | 688,981,901.71 | 623,044,411.70 (Prior Period) | 10.58% | | Net Profit Attributable to Parent Company Owners (CNY) | 12,318,889.89 | 15,405,832.48 (Prior Period) | -20.04% | | Net Profit Attributable to Parent Company Owners (Excluding Non-Recurring Items) (CNY) | 8,253,347.76 | 12,452,425.80 (Prior Period) | -33.72% | | Cash Flow Statement Items (Year-to-Date) | | | | | Net Cash Flow from Operating Activities (CNY) | -35,031,055.75 | 3,424,081.64 (Prior Period) | -1,123.08% | | Per Share Indicators (Year-to-Date) | | | | | Basic Earnings Per Share (CNY/share) | 0.07 | 0.08 (Prior Period) | -12.50% | Non-Recurring Gains and Losses (Year-to-Date) | Item | Amount (CNY) | Notes | | :--- | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 5,835,082.24 | Government grants | | Fair Value Changes and Investment Income from Financial Assets | 467,048.41 | Wealth management product investment income | | Other Non-Operating Income and Expenses | -1,445,711.42 | Primarily donation expenses for COVID-19 fight | | Less: Income Tax Impact | 790,877.10 | | | Total | 4,065,542.13 | -- | Shareholder Information As of the reporting period end, the company had 17,438 common shareholders, with key shareholders Wang Ping and Shenzhen Zhaoge Investment Enterprise holding significant stakes and having concerted action relationships - As of the end of the reporting period, the company had 17,438 common shareholders[14] Top Ten Shareholders' Shareholding | Shareholder Name | Shareholding (%) | Number of Shares | Restricted Shares | Pledge Status | | :--- | :--- | :--- | :--- | :--- | | Wang Ping | 42.69% | 78,771,200 | 59,078,400 | Pledged 28,330,000 | | Shenzhen Zhaoge Investment Enterprise (Limited Partnership) | 13.34% | 24,616,000 | 0 | - | | Wang Cheng | 10.67% | 19,692,800 | 14,769,600 | Pledged 9,350,000 | | Shenzhen Fenghuangshan Cultural Tourism Investment Co., Ltd. | 7.00% | 12,920,000 | 0 | - | - Key shareholder relationships: Wang Ping and Wang Cheng are brothers; Wang Ping is the general partner of Zhaoge Investment, while Wang Cheng and Du Guobin are its limited partners[17][20] Significant Matters This section details significant financial changes, the progress of the stock incentive plan, fundraising utilization, and other key operational updates Analysis of Changes in Key Financial Data and Reasons The reporting period saw significant changes in assets like prepayments and inventories, liabilities including short-term borrowings, and profit items such as selling expenses and credit impairment losses Balance Sheet Key Item Changes (Period End vs. Period Beginning) | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Prepayments | 104.45% | Increase in prepayments to suppliers for materials | | Inventories | 51.09% | Increase in raw material inventory | | Intangible Assets | 90.71% | Increase in software assets | | Short-term Borrowings | 233.33% | New bank credit loans | | Other Payables | 351.91% | Recognition of restricted share repurchase obligation | Income Statement Key Item Changes (Year-to-Date) | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Selling Expenses | 42.37% | Increase in sales staff salaries and market development expenses | | Financial Expenses | -837.63% | Increase in interest income | | Other Income | 387.15% | Increase in software enterprise VAT refunds received | | Credit Impairment Losses | -1,438.63% | Increase in provision for doubtful accounts (accounts receivable) | | Non-Operating Expenses | 28,790.26% | Donation expenses for COVID-19 fight | Progress of Significant Matters The company successfully completed the review, adjustment, grant, and registration of its 2020 stock option and restricted stock incentive plan during the reporting period - The company completed the entire process of review, adjustment, grant, and registration for its 2020 stock option and restricted stock incentive plan between June and August 2020[27] Use of Raised Funds As of September 30, 2020, the company has cumulatively invested CNY 188 million, approximately 90.1% of its net IPO proceeds, with a remaining balance of CNY 32.30 million - As of September 30, 2020, the company's cumulative investment of raised funds reached CNY 188.10 million, accounting for approximately 90.1% of the actual net proceeds of CNY 208.76 million[34][35] Wealth Management During the reporting period, the company invested CNY 85 million in bank wealth management products using both raised funds (CNY 35 million) and own funds (CNY 50 million); the unmatured balance at period end was CNY 20 million, with no overdue unrecovered amounts Wealth Management Status (CNY ten thousand) | Fund Source | Amount of Wealth Management Transactions | Unmatured Balance | Overdue Unrecovered Amount | | :--- | :--- | :--- | :--- | | Proceeds from Initial Public Offering | 3,500 | 0 | 0 | | Own Funds | 5,000 | 2,000 | 0 | | Total | 8,500 | 2,000 | 0 | Other Matters The company reported no securities or derivative investments, overdue commitments, significant contracts, irregular guarantees, or controlling shareholder fund occupation during the period, and did not provide a 2020 performance forecast - During the reporting period, the company had no securities investments, derivative investments, or irregular guarantees[29][33][39] - The company did not provide a forecast for its 2020 operating performance[36] Financial Statements This section presents the company's consolidated financial statements, including the balance sheet, income statements, cash flow statement, and related accounting policy notes Consolidated Balance Sheet As of September 30, 2020, total assets were CNY 932 million, total liabilities CNY 370 million, and total equity attributable to parent company owners CNY 561 million, reflecting a 2.24% increase from year-end 2019 Consolidated Balance Sheet Key Data (CNY) | Item | September 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Total Assets | 931,557,098.00 | 784,635,782.57 | | Total Liabilities | 370,158,256.03 | 235,556,312.23 | | Total Equity Attributable to Parent Company Owners | 561,398,841.97 | 549,079,470.34 | | Total Liabilities and Equity | 931,557,098.00 | 784,635,782.57 | Consolidated Income Statement (Current Period) In Q3 2020, operating revenue increased by 13.86% to CNY 255 million, but the company reported an operating loss of CNY 1.34 million and a net loss of CNY 1.95 million attributable to parent company owners Consolidated Income Statement Key Data (Q3 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | I. Total Operating Revenue | 255,082,571.00 | 224,027,126.89 | | III. Operating Profit | -1,337,606.25 | 3,455,792.40 | | V. Net Profit | -1,953,336.05 | 3,024,209.43 | | Net Profit Attributable to Parent Company Owners | -1,953,336.05 | 3,024,209.43 | | VIII. Basic Earnings Per Share | -0.01 | 0.02 | Consolidated Income Statement (Year-to-Date) For the first nine months of 2020, cumulative operating revenue grew by 10.58% to CNY 689 million, while net profit attributable to parent company owners decreased by 20.04% to CNY 12.32 million Consolidated Income Statement Key Data (Jan-Sep 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | I. Total Operating Revenue | 688,981,901.71 | 623,044,411.70 | | III. Operating Profit | 13,743,378.36 | 17,645,031.61 | | V. Net Profit | 12,318,889.89 | 15,405,832.48 | | Net Profit Attributable to Parent Company Owners | 12,318,889.89 | 15,405,832.48 | | VIII. Basic Earnings Per Share | 0.07 | 0.08 | Consolidated Cash Flow Statement (Year-to-Date) Year-to-date net cash flow from operating activities was CNY -35.03 million, a significant decrease from the prior period, while financing activities generated a net inflow of CNY 68.64 million Consolidated Cash Flow Statement Key Data (Jan-Sep 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -35,031,055.75 | 3,424,081.64 | | Net Cash Flow from Investing Activities | 7,839,376.08 | 82,260,338.64 | | Net Cash Flow from Financing Activities | 68,637,467.12 | -52,446,030.77 | | Net Increase in Cash and Cash Equivalents | 37,989,915.90 | 34,664,167.39 | Financial Statement Adjustment Notes The company adopted new revenue and lease accounting standards effective January 1, 2020, but did not retrospectively adjust the opening balance sheet - The company adopted new revenue and lease accounting standards effective 2020 but did not retrospectively adjust the financial statements as of January 1, 2020[106][115] Audit Report This quarterly report is unaudited - The company's Q3 2020 report is unaudited[124]