竞业达(003005) - 2021 Q1 - 季度财报

Important Notice Statement on Report Authenticity The company's board, supervisory board, and senior management ensure the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility, with all directors attending the review meeting - The company's board, supervisory board, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume corresponding legal responsibility[4] - All directors attended the board meeting to review this quarterly report[5] - The company's head, chief accountant, and head of accounting department jointly declare that the financial statements in the quarterly report are true, accurate, and complete[5] Company Overview Key Accounting Data and Financial Indicators In Q1 2021, the company achieved significant performance growth with operating revenue surging 365.46% YoY and net profit attributable to shareholders turning profitable, despite increased operating cash outflow Key Financial Performance (Yuan) | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 136,648,510.24 | 29,357,596.82 | 365.46% | | Net Profit Attributable to Shareholders (Yuan) | 26,812,540.77 | -13,323,873.62 | 301.24% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) (Yuan) | 23,615,235.29 | -13,222,422.92 | 278.60% | | Net Cash Flow from Operating Activities (Yuan) | -87,263,645.97 | -54,854,275.67 | 59.08% | | Basic Earnings Per Share (Yuan/Share) | 0.2529 | -0.1676 | 250.89% | | Total Assets (Yuan) | 1,812,009,492.98 | 1,874,970,676.45 | -3.36% (vs. end of prior year) | | Net Assets Attributable to Shareholders (Yuan) | 1,400,760,628.35 | 1,373,948,087.57 | 1.95% (vs. end of prior year) | Non-recurring Gains and Losses (Yuan) | Item | Amount from Year-Beginning to Period-End (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -1,403.26 | | Government Grants Included in Current Profit/Loss | 3,063,160.43 | | Fair Value Change Gains/Losses and Investment Income from Transactional Financial Assets | 670,569.86 | | Other Non-recurring Gains/Losses | 25,705.30 | | Less: Income Tax Impact | 560,654.85 | | Less: Impact on Minority Interests (After Tax) | 72.00 | | Total | 3,197,305.48 | - The company classified VAT refunds of 2.63 million Yuan as recurring income, as this subsidy is closely related to normal business operations and is sustainable[10] Shareholder Information As of the reporting period end, the company had 15,549 common shareholders, with a highly concentrated equity structure where the top three shareholders, including a concerted action party, held 65.43% - As of the end of the reporting period, the company had 15,549 common shareholders[12] Top Ten Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held (Shares) | Nature | | :--- | :--- | :--- | :--- | | Qian Rui | 29.27% | 31,025,000 | Domestic Natural Person | | Jiang Yuandong | 25.83% | 27,375,000 | Domestic Natural Person | | Zhang Aijun | 10.33% | 10,950,000 | Domestic Natural Person | | Cao Wei | 3.44% | 3,650,000 | Domestic Natural Person | | Tianjin Jingyeda Ruiying Technology Consulting Center (Limited Partnership) | 3.25% | 3,443,000 | Domestic Non-state-owned Legal Person | - Company Chairman Qian Rui and Director/Deputy General Manager Jiang Yuandong are a married couple, constituting an associated relationship or concerted action party[13] - Several unrestricted shareholders hold company shares through margin financing and securities lending, such as Liu Chenyujian and Yan Ruhai[13] Significant Events Analysis of Major Financial Data Changes During this period, the company's financial position significantly changed, marked by a sharp decrease in monetary funds and surge in transactional financial assets due to wealth management product purchases, alongside substantial revenue growth and increased cash outflows from operations and investments - Monetary funds decreased by 65.50%, and transactional financial assets increased by 348.00%, primarily due to the company's use of idle funds for cash management by purchasing wealth management products during this period[16] - Operating revenue increased by 365.46% YoY, mainly due to increased revenue from smart rail business, with operating costs also increasing by 347.09%[16] - Sales expenses and R&D expenses increased by 38.43% and 38.77% respectively, reflecting the company's increased investment in marketing and R&D[16] - "Cash paid for other investing activities" in investing cash outflow surged by 613.33% YoY, mainly due to a significant increase in the amount of wealth management products purchased during this period[17] Progress of Raised Funds Utilization The company raised 768 million yuan net from its September 2020 IPO, cumulatively using 189 million yuan by March 31, 2021, primarily for R&D and industrialization projects, with 581 million yuan remaining for cash management or in special accounts - The company's net proceeds from its initial public offering were 767.94 million Yuan[22] - As of March 31, 2021, the company had cumulatively used 188.91 million Yuan of raised funds, with an additional 23.54 million Yuan used during the reporting period[25] - As of March 31, 2021, the balance in the special raised funds account was 580.74 million Yuan, with some unused funds being used for cash management[25] Entrusted Wealth Management During the period, the company actively engaged in entrusted wealth management, investing 858 million yuan from both own and raised funds, with an 823 million yuan unexpired balance in bank products and no overdue amounts Entrusted Wealth Management Overview (10,000 Yuan) | Fund Source | Entrusted Wealth Management Amount (10,000 Yuan) | Unexpired Balance (10,000 Yuan) | Overdue Unrecovered Amount (10,000 Yuan) | | :--- | :--- | :--- | :--- | | Own Funds | 30,000 | 27,000 | 0 | | Raised Funds | 55,800 | 55,300 | 0 | | Total | 85,800 | 82,300 | 0 | Financial Statements Consolidated Balance Sheet As of March 31, 2021, total assets decreased by 3.36% to 1.812 billion yuan, total liabilities decreased by 17.95% to 410 million yuan, and equity attributable to parent company owners increased by 1.95% to 1.401 billion yuan, reflecting a shift from monetary funds to transactional financial assets Consolidated Balance Sheet Highlights (Yuan) | Major Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Monetary Funds | 320,616,128.19 | 929,289,192.95 | -65.50% | | Transactional Financial Assets | 672,000,000.00 | 150,000,000.00 | +348.00% | | Total Assets | 1,812,009,492.98 | 1,874,970,676.45 | -3.36% | | Total Liabilities | 409,868,744.36 | 499,515,721.82 | -17.95% | | Total Equity Attributable to Parent Company Owners | 1,400,760,628.35 | 1,373,948,087.57 | +1.95% | Consolidated Income Statement In Q1 2021, the company achieved total operating revenue of 137 million yuan, a 365.46% increase YoY, successfully turning a net profit of 26.81 million yuan from a prior-year loss, with basic earnings per share of 0.2529 yuan Consolidated Income Statement Highlights (Yuan) | Major Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 136,648,510.24 | 29,357,596.82 | +365.46% | | II. Total Operating Costs | 110,221,601.85 | 42,305,477.04 | +160.54% | | Including: Operating Costs | 76,985,252.52 | 17,219,200.44 | +347.09% | | R&D Expenses | 11,290,456.14 | 8,136,039.41 | +38.77% | | III. Operating Profit | 27,777,377.68 | -12,589,045.14 | Turned Profitable | | IV. Total Profit | 30,867,243.41 | -13,472,264.34 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 26,812,540.77 | -13,323,873.62 | +301.24% | | Basic Earnings Per Share | 0.2529 | -0.1676 | +250.89% | Consolidated Cash Flow Statement In Q1 2021, operating cash outflow expanded to -87.26 million yuan, investing cash outflow was -533 million yuan primarily due to wealth management product purchases, resulting in a 620 million yuan decrease in cash and cash equivalents to 264 million yuan Consolidated Cash Flow Statement Highlights (Yuan) | Major Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -87,263,645.97 | -54,854,275.67 | | Net Cash Flow from Investing Activities | -532,836,019.62 | -25,474,801.05 | | Net Cash Flow from Financing Activities | -174,241.67 | -10,671,143.06 | | Net Increase/Decrease in Cash and Cash Equivalents | -620,273,907.26 | -91,000,219.78 | | Cash and Cash Equivalents at Period End | 264,446,106.92 | 60,429,648.32 | Audit Status The company's Q1 2021 report is unaudited - The company's first quarter report is unaudited[57]