欣贺股份(003016) - 2022 Q3 - 季度财报

Major Financial Data In the first three quarters of 2022, the company's performance significantly declined, with revenue decreasing by 13.48% and net profit attributable to shareholders by 47.27%, primarily due to macroeconomic impacts Core Financial Indicators During the reporting period, the company's core financial indicators showed a year-on-year decline, with Q1-Q3 revenue at 1,304 million yuan and net profit at 129 million yuan, both significantly decreasing Key Financial Indicators (Year-to-Date) | Indicator (Year-to-Date) | 2022 Q1-Q3 (million yuan) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 1,304 | -13.48% | | Net Profit Attributable to Shareholders | 129 | -47.27% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 115 | -51.50% | | Net Cash Flow from Operating Activities | 174 | -38.86% | | Basic Earnings Per Share | 0.2983 yuan/share | -48.12% | Key Financial Indicators (Q3) | Indicator (Q3) | 2022 Q3 (million yuan) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 406 | -11.74% | | Net Profit Attributable to Shareholders | 30 | -42.86% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 27 | -46.68% | Non-recurring Gains and Losses Year-to-date non-recurring gains and losses totaled 14.30 million yuan, primarily from government subsidies and cash management product income, positively contributing to current period profit Non-recurring Gains and Losses (Year-to-Date) | Item | Amount (Year-to-Date, million yuan) | Primary Source | | :--- | :--- | :--- | | Government Subsidies | 12.46 | Government subsidies received | | Investment Income | 6.02 | Cash management product income | | Total | 14.30 | - | Analysis of Major Financial Indicator Changes The company experienced significant changes across its balance sheet, income statement, and cash flow statement, driven by asset reclassification, investment income fluctuations, and increased financing outflows - Major Balance Sheet Changes: - Fixed Assets: Increased by 231.68%, primarily due to the reclassification of some construction in progress to fixed assets[8] - Construction in Progress: Decreased by 96.95%, for the same reason as above[8] - Monetary Capital: Decreased by 30.31%, mainly due to expenditures for cash management products, profit distribution, and share repurchases[8] - Trading Financial Assets: Increased by 206.24%, primarily due to increased purchases of cash management products[8] - Major Income Statement Changes: - Investment Income: Decreased by 76.53% year-on-year, mainly due to cash management activities[9] - Gains from Changes in Fair Value: Increased significantly by 4035.92% year-on-year, primarily due to cash management activities[9] - Non-operating Expenses: Decreased by 90.12% year-on-year, mainly because the base for expenditures from store closures and project delays in the prior year was higher[9] - Major Cash Flow Statement Changes: - Net Cash Flow from Operating Activities: Decreased by 38.86% year-on-year, primarily due to reduced cash received from sales of goods[10] - Net Cash Flow from Investing Activities: Net outflow narrowed by 74.11% year-on-year, mainly due to changes in cash management activities[10] - Net Cash Flow from Financing Activities: Net outflow expanded by 63.41% year-on-year, primarily due to profit distribution and share repurchases implemented during the reporting period[10][11] Shareholder Information As of the reporting period end, the company had 20,127 shareholders, with the Sun family controlling 65.02% of shares through various entities, and the controlling shareholder having some pledged shares Shareholding Structure As of September 30, 2022, the company had 20,127 shareholders, with controlling shareholder Xinhe International holding 63.09% of shares, including 6.6 million shares pledged - The total number of ordinary shareholders at the end of the reporting period was 20,127[13] Top Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares (million shares) | | :--- | :--- | :--- | | Xinhe International Co., Ltd. | 63.09% | 272.716 | | Xiamen Junsheng Investment Partnership (Limited Partnership) | 4.52% | 19.539 | | Fujian Hengxing Energy Co., Ltd. | 1.62% | 7.000 | - The company's actual controllers are members of the Sun family, who collectively control 65.02% of the company's shares through Xinhe International, Xiamen Xinhe Equity Investment Co., Ltd., and Jufu Development Co., Ltd[13] Other Significant Matters The company completed a share repurchase plan, continued its restricted stock incentive program, and finalized industrial and commercial changes, including a planned increase in business scope - The company's share repurchase plan has been completed, with 10 million shares repurchased, representing 2.31% of the total share capital, for a total transaction amount of 87.40 million yuan, intended for employee stock ownership or equity incentive plans[15][16] - The company continues to advance its 2021 restricted stock incentive plan, repurchasing and canceling unvested restricted shares from several employees who have resigned or failed to meet performance targets[17][18][19] - The company completed industrial and commercial registration changes for its registered capital and domicile, and plans to expand its business scope and reappoint the auditor for fiscal year 2022[19][20] Quarterly Financial Statements This report presents the unaudited consolidated balance sheet as of September 30, 2022, and the consolidated income statement and cash flow statement for the year-to-date period Consolidated Balance Sheet As of September 30, 2022, total assets were 3,553.55 million yuan, a 6.99% decrease from year-end, primarily due to construction in progress reclassification to fixed assets Consolidated Balance Sheet (as of September 30, 2022) | Item | September 30, 2022 (million yuan) | December 31, 2021 (million yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 3,553.55 | 3,820.51 | -6.99% | | Total Liabilities | 706.94 | 776.03 | -8.90% | | Equity Attributable to Parent Company Shareholders | 2,846.60 | 3,044.49 | -6.50% | Consolidated Income Statement For the first three quarters of 2022, operating revenue was 1,303.60 million yuan, a 13.48% decrease, resulting in a 47.27% decline in net profit attributable to parent company shareholders Consolidated Income Statement (Year-to-Date) | Item | 2022 Q1-Q3 (million yuan) | 2021 Q1-Q3 (million yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,303.60 | 1,506.75 | -13.48% | | Total Operating Costs | 1,094.23 | 1,125.02 | -2.74% | | Operating Profit | 175.05 | 336.06 | -47.91% | | Net Profit Attributable to Parent Company Shareholders | 129.35 | 245.32 | -47.27% | Consolidated Cash Flow Statement Year-to-date net cash flow from operating activities decreased by 38.86% to 174.13 million yuan, while investing and financing activities saw significant shifts due to cash management and capital distribution Consolidated Cash Flow Statement (Year-to-Date) | Item | 2022 Q1-Q3 (million yuan) | 2021 Q1-Q3 (million yuan) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 174.13 | 284.82 | -38.86% | | Net Cash Flow from Investing Activities | -228.76 | -883.72 | 74.11% | | Net Cash Flow from Financing Activities | -377.08 | -230.76 | -63.41% | | Net Increase in Cash and Cash Equivalents | -429.83 | -829.88 | 48.21% | Audit Opinion The company's 2022 third-quarter report has not been audited - The company's third-quarter report is unaudited[27]