楚天龙(003040) - 2023 Q3 - 季度财报

Important Notes The board and management guarantee the authenticity and completeness of this unaudited Q3 2023 report - The Board of Directors, Board of Supervisors, and senior management guarantee the authenticity, accuracy, and completeness of the quarterly report, and bear individual and joint legal responsibility[3] - The company's responsible person, chief accountant, and head of the accounting department affirm the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The company's third-quarter report for 2023 is unaudited[4][26] Key Financial Data Key Accounting Data and Financial Indicators The company's revenue and net profit declined significantly in Q3 2023 and year-to-date, while net cash flow from operating activities improved substantially Key Financial Indicators for Q3 2023 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change | Year-to-Date (YTD) | YTD YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 276,975,390.16 | -49.45% | 952,744,028.55 | -23.07% | | Net Profit Attributable to Shareholders (RMB) | 8,863,789.04 | -83.65% | 73,378,316.58 | -41.47% | | Net Profit Attributable to Shareholders (Non-recurring items deducted) (RMB) | 7,997,107.59 | -84.76% | 69,785,784.23 | -41.98% | | Net Cash Flow from Operating Activities (RMB) | — | — | -16,460,574.37 | 94.92% | | Basic Earnings Per Share (RMB/Share) | 0.02 | -83.66% | 0.16 | -40.74% | | Diluted Earnings Per Share (RMB/Share) | 0.02 | -83.66% | 0.16 | -40.74% | | Weighted Average Return on Equity | 0.59% | -3.14% | 4.71% | -4.04% | Asset and Liability Indicators as of September 30, 2023 | Indicator | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets | 2,113,741,283.20 | 2,213,726,709.76 | -4.52% | | Equity Attributable to Shareholders | 1,510,372,851.55 | 1,519,999,009.93 | -0.63% | Non-recurring Profit and Loss Items and Amounts Year-to-date non-recurring profit and loss totaled RMB 3.59 million, while VAT rebates on software products were classified as recurring items Non-recurring Profit and Loss Items and Amounts (Year-to-Date) | Item | YTD Amount (RMB) | Notes | | :--- | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -1,487,567.92 | | | Government Grants Recognized in Current Profit or Loss | 3,289,949.91 | | | Fair Value Change Gain/Loss & Investment Income from Financial Assets | 2,650,200.42 | | | Other Non-operating Income and Expenses | -234,468.79 | | | Less: Income Tax Impact | 625,581.27 | | | Total | 3,592,532.35 | -- | - The VAT rebate of RMB 30,339,047.50 for self-developed software products, where the actual tax burden exceeds 3%, is classified as a recurring item due to its direct relation to normal business operations and non-exceptional nature[8] Changes and Reasons for Key Accounting Data and Financial Indicators Significant fluctuations occurred across the balance sheet, income statement, and cash flow statement due to asset transfers, revenue decline, and changes in financing activities Changes in Consolidated Balance Sheet Items and Reasons - Trading financial assets decreased by RMB 251.24 million (100%) from the beginning of the period, mainly due to a reduction in wealth management product purchases[9] - Fixed assets increased by RMB 58.63 million (44.33%), while construction in progress decreased by RMB 32.52 million (52.45%), primarily due to the transfer of completed projects to fixed assets[9] - Employee compensation payable decreased by RMB 28.14 million (54.19%) from the beginning of the period, mainly due to the payment of prior-year bonuses[9] Changes in Consolidated Income Statement Items and Reasons - Investment income for Jan-Sep 2023 decreased by RMB 8.50 million (68.58%) YoY, mainly due to lower investment dividends received in the prior year and reduced purchases of wealth management products in the current period[10] - Credit impairment loss for Jan-Sep 2023 decreased by RMB 32.45 million (79.58%) YoY, primarily from reduced impairment provisions for accounts receivable and other receivables[10] - Operating profit and net profit for Jan-Sep 2023 decreased by RMB 65.84 million (44.97%) and RMB 51.82 million (41.44%) YoY respectively, mainly due to lower revenue[11] Changes in Consolidated Cash Flow Statement Items and Reasons - Net cash flow from operating activities for Jan-Sep 2023 increased by RMB 307.88 million (94.92%) YoY, mainly due to decreased cash payments for goods and services[12] - Net cash flow from investing activities for Jan-Sep 2023 increased by RMB 230.29 million (1148.79%) YoY, primarily due to reduced purchases of wealth management products[12] - Net cash flow from financing activities for Jan-Sep 2023 decreased by RMB 55.95 million (168.71%) YoY, mainly due to increased cash dividend payments[12] Shareholder Information Total Number of Common Shareholders and Holdings of Top Ten Shareholders As of the reporting period end, the company had 48,604 common shareholders, with the controlling shareholder holding a 45.54% stake - The total number of common shareholders was 48,604 at the end of the reporting period, with no preferred shareholders with restored voting rights[14] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares Held | Number of Restricted Shares | Pledged, Marked, or Frozen Status (Number of Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhengzhou Xianghongwan Enterprise Management Co., Ltd. | Domestic Non-State-owned Legal Entity | 45.54% | 210,000,000 | 210,000,000 | Pledged 11,150,000 | | Konka Group Co., Ltd. | State-owned Legal Entity | 8.87% | 40,881,740 | 0 | | | Zhengzhou Dongfang Yima Enterprise Management Center (Limited Partnership) | Domestic Non-State-owned Legal Entity | 6.57% | 30,285,850 | 30,285,850 | | | Chutian Dragon Co., Ltd. Unconfirmed Shares Custody Special Securities Account | Domestic Non-State-owned Legal Entity | 0.93% | 4,285,714 | 4,285,714 | | | Minsheng Securities Investment Co., Ltd. | Domestic Non-State-owned Legal Entity | 0.51% | 2,371,557 | 0 | | - Zhengzhou Dongfang Yima Enterprise Management Center (Limited Partnership) is a party acting in concert with the controlling shareholder, Zhengzhou Xianghongwan Enterprise Management Co., Ltd[15] Information on Preferred Shareholders The company has no preferred shareholders - The company has no preferred shareholders[16] Other Important Matters No other significant events occurred during the reporting period - There were no other important matters during the reporting period[16] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2023, total assets were RMB 2.11 billion, a 4.52% decrease from the beginning of the year Key Items of Consolidated Balance Sheet (September 30, 2023 vs January 1, 2023) | Item | September 30, 2023 (RMB) | January 1, 2023 (RMB) | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 559,046,825.98 | 462,420,636.33 | Increase | | Trading Financial Assets | 0 | 251,242,191.78 | Decrease 100% | | Accounts Receivable | 880,167,185.94 | 818,535,601.64 | Increase | | Inventories | 268,311,698.78 | 314,780,372.65 | Decrease | | Other Current Assets | 50,199,339.78 | 14,549,510.46 | Increase | | Fixed Assets | 190,884,462.14 | 132,251,211.91 | Increase | | Construction in Progress | 29,488,786.07 | 62,011,195.26 | Decrease | | Notes Payable | 0 | 5,000,000.00 | Decrease 100% | | Employee Compensation Payable | 23,790,919.83 | 51,934,580.79 | Decrease | | Total Liabilities | 611,068,543.52 | 701,285,947.22 | Decrease | | Total Equity Attributable to Parent Company | 1,510,372,851.55 | 1,519,999,009.93 | Decrease | | Total Assets | 2,113,741,283.20 | 2,213,726,709.76 | Decrease | Consolidated Year-to-Date Income Statement For the first nine months of 2023, total operating revenue decreased by 23.07% YoY to RMB 953 million, while R&D expenses increased Key Items of Consolidated Income Statement (Jan-Sep 2023 vs Prior Period) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 952,744,028.55 | 1,238,515,415.07 | -23.07% | | Operating Costs | 660,451,041.27 | 844,396,328.24 | Decrease | | Selling Expenses | 83,265,305.90 | 100,845,858.98 | Decrease | | Administrative Expenses | 58,259,908.90 | 57,039,256.12 | Increase | | R&D Expenses | 84,510,612.26 | 73,278,612.28 | Increase 15.33% | | Investment Income | 3,892,392.20 | 12,388,910.62 | Decrease 68.58% | | Credit Impairment Loss | -8,325,727.01 | -40,774,784.40 | Loss Decrease | | Operating Profit | 80,573,691.23 | 146,411,142.74 | Decrease 44.97% | | Net Profit | 73,236,452.10 | 125,058,107.33 | Decrease 41.44% | | Net Profit Attributable to Parent Company Shareholders | 73,378,316.58 | 125,365,230.67 | Decrease 41.47% | | Basic Earnings Per Share | 0.16 | 0.27 | Decrease 40.74% | Consolidated Year-to-Date Cash Flow Statement For Jan-Sep 2023, net operating cash flow improved significantly due to reduced payments, while financing cash flow decreased due to higher dividend payouts Key Items of Consolidated Cash Flow Statement (Jan-Sep 2023 vs Prior Period) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,460,574.37 | -324,345,343.29 | Increase 94.92% | | Net Cash Flow from Investing Activities | 210,246,783.56 | -20,046,658.38 | Increase 1148.79% | | Net Cash Flow from Financing Activities | -89,105,688.44 | -33,160,175.96 | Decrease 168.71% | | Net Increase in Cash and Cash Equivalents | 105,231,111.06 | -377,539,920.50 | Increase | | Closing Balance of Cash and Cash Equivalents | 554,928,475.48 | 608,271,506.63 | Decrease | - Net cash flow from operating activities increased by 94.92%, mainly due to decreased cash payments for goods and services compared to the prior period[12][24] - Net cash flow from investing activities increased by 1148.79%, primarily due to reduced purchases of wealth management products in the current period[12][25] - Net cash flow from financing activities decreased by 168.71%, mainly due to increased cash dividend payments in the current period[12][25] First-time Adoption of New Accounting Standards The company did not adopt any new accounting standards in 2023 that required adjustments to the opening financial statements - The company did not make adjustments to the opening financial statements for the first-time adoption of new accounting standards[26] Audit Report The company's third-quarter report for 2023 has not been audited - The third-quarter report has not been audited[26]