苏常柴B(200570) - 2022 Q3 - 季度财报

Key Financial Data Key Financial Indicators In Q3 2022, operating revenue increased by 12.68% YoY, but YTD cumulative revenue decreased by 13.00% YoY; despite this, YTD net profit attributable to shareholders significantly grew by 28.47% due to substantial non-recurring gains and losses, while core business remained at a loss after excluding these items 2022 Q3 and YTD Key Financial Data | Indicator | Current Period (Q3) | YTD | YTD YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 545,599,669.07 | 1,723,822,161.11 | -13.00% | | Net Profit Attributable to Shareholders of Listed Company (RMB) | 150,405,621.57 | 135,810,351.96 | 28.47% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (RMB) | -5,566,500.16 | -11,375,860.23 | N/A | | Net Cash Flow from Operating Activities (RMB) | N/A | -82,550,839.42 | N/A | | Basic Earnings Per Share (RMB/share) | 0.2131 | 0.1924 | 10.96% | | Total Assets (RMB) | 5,399,636,868.12 | 5,399,636,868.12 | 11.09% (vs. End of Prior Year) | | Total Equity Attributable to Shareholders of Listed Company (RMB) | 3,301,798,721.38 | 3,301,798,721.38 | 7.29% (vs. End of Prior Year) | Non-recurring Gains and Losses Analysis YTD non-recurring gains and losses totaled RMB 147.19 million, serving as the primary source of net profit attributable to shareholders, largely driven by RMB 159.94 million in fair value changes from financial assets held for trading, mainly due to the increased fair value of the company's equity stake in Jiangsu Housheng New Energy Technology Co., Ltd YTD Non-recurring Gains and Losses Items | Item | Amount (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading | 159,941,932.72 | Primarily due to increased fair value gains from equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Government Grants | 3,046,711.99 | - | | Other Non-operating Income and Expenses | 2,660,006.90 | - | | Gains/Losses on Disposal of Non-current Assets | -361,395.36 | - | | Total | 147,186,212.19 | - | Changes and Reasons for Key Financial Data During the reporting period, significant changes occurred across the company's balance sheet, income statement, and cash flow statement; accounts receivable surged by 164.62% due to market expansion, and other non-current financial assets increased by 232.00% due to fair value gains from equity investments, while fair value change gains and investment income were key drivers of profit growth, and net cash flow from financing activities sharply declined by 91.51% due to the absence of a private placement seen in the prior year Consolidated Balance Sheet Major Changes (Period-end vs. Period-start) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 164.62% | To expand market share, appropriate credit was extended, and multi-cylinder engine customers have longer payment terms | | Other Non-current Financial Assets | 232.00% | Increased fair value gains from equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Fixed Assets | 71.84% | Construction in progress of subsidiaries transferred to fixed assets | | Construction in Progress | -70.80% | Construction in progress of subsidiaries transferred to fixed assets | | Short-term Borrowings | 230.39% | Increase in discounted but unexpired bank acceptance bills with lower credit ratings | Consolidated Income Statement Major Changes (YTD) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Financial Expenses | N/A | Increase in exchange gains and interest income | | Gains from Changes in Fair Value | 44.78% | Increase in fair value of equity investment in Jiangsu Housheng New Energy Technology Co., Ltd | | Investment Income | 59.71% | Increased dividends received from Jiangsu Bank and wealth management income | | Non-operating Income | 195.30% | Goodwill generated from the acquisition of 41.5% equity in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd | Consolidated Cash Flow Statement Major Changes (YTD) | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | N/A | Decrease in procurement expenditures due to production and sales volume impact, coupled with intensified collection efforts | | Net Cash Flow from Investing Activities | N/A | Lower investment in construction in progress this period compared to the previous period | | Net Cash Flow from Financing Activities | -91.51% | Previous period included proceeds from a non-public stock offering, no such event this period | Shareholder Information Total Common Shareholders, Number of Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholder Holdings As of the reporting period end, the company had 53,393 common shareholders, with Changzhou Investment Group Co., Ltd., a state-owned legal entity, being the largest shareholder holding 32.26% of shares, while other top ten shareholders each held less than 1% - As of the end of the reporting period, the company had 53,393 common shareholders and no preferred shareholders[12] Top Ten Shareholder Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Changzhou Investment Group Co., Ltd. | State-owned Legal Entity | 32.26% | 227,663,417 | | Chen Jian | Domestic Individual | 0.70% | 4,905,900 | | KGI ASIA LIMITED | Overseas Legal Entity | 0.44% | 3,101,695 | | Dai Wenping | Domestic Individual | 0.38% | 2,705,200 | | Yang Xue'e | Domestic Individual | 0.30% | 2,111,900 | | Su Zhenxing | Domestic Individual | 0.23% | 1,592,093 | | Li Suinan | Domestic Individual | 0.22% | 1,569,100 | | Huang Guoliang | Domestic Individual | 0.22% | 1,528,891 | | Xue Hong | Domestic Individual | 0.20% | 1,398,100 | | Tao Xiaofang | Domestic Individual | 0.19% | 1,310,000 | Other Significant Matters Other Significant Matters During the reporting period, the company completed two significant external investments: successfully acquiring a 41.5% equity stake in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd., which has been consolidated, and increasing its investment in Jiangsu Housheng New Energy Technology Co., Ltd. by RMB 75 million to further expand its presence in the new energy sector - The company successfully acquired a 41.5% equity stake in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd. for RMB 33.52 million and consolidated it in May 2022[14] - The company increased its investment in Jiangsu Housheng New Energy Technology Co., Ltd. by RMB 75 million, holding a total of 5.36% of its shares after the capital increase[14] Quarterly Financial Statements Financial Statement Details This section presents the unaudited consolidated balance sheet as of September 30, 2022, and the consolidated income statement and consolidated cash flow statement for the period from the beginning of the year to the end of the reporting period Consolidated Balance Sheet As of September 30, 2022, the company's total assets were RMB 5.40 billion, an 11.09% increase from the beginning of the year; total liabilities were RMB 2.03 billion, with a debt-to-asset ratio of 37.54%; and total equity attributable to the parent company was RMB 3.30 billion, a 7.29% increase from the beginning of the year Consolidated Balance Sheet Summary (2022-09-30) | Item | Amount (RMB) | Change vs. Beginning of Year | | :--- | :--- | :--- | | Total Assets | 5,399,636,868.12 | 11.09% | | Total Liabilities | 2,026,999,015.61 | 14.95% | | Total Equity Attributable to Parent Company Shareholders | 3,301,798,721.38 | 7.29% | | Total Equity | 3,372,637,852.51 | 8.90% | Consolidated Income Statement (YTD) YTD, the company achieved operating revenue of RMB 1.72 billion, a 13.00% YoY decrease, with operating costs of RMB 1.53 billion and a gross profit margin of approximately 11.4%; despite the revenue decline, operating profit increased by 20.73% to RMB 155.38 million due to RMB 147.19 million in fair value change gains, resulting in a net profit attributable to the parent company of RMB 135.81 million, a 28.47% YoY increase Consolidated Income Statement Summary (YTD 2022-09-30) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,723,822,161.11 | 1,981,354,126.38 | | Operating Profit | 155,379,086.24 | 128,702,362.47 | | Total Profit | 158,032,713.14 | 129,489,473.06 | | Net Profit Attributable to Parent Company Shareholders | 135,810,351.96 | 105,710,713.42 | Consolidated Cash Flow Statement (YTD) YTD, net cash flow from operating activities was -RMB 82.55 million, a significant improvement from -RMB 316.19 million in the prior year; net cash outflow from investing activities was RMB 50.71 million, substantially lower than RMB 427.87 million in the prior year primarily due to reduced investment in construction in progress this period; and net cash inflow from financing activities was RMB 52.00 million, far below RMB 612.39 million in the prior year mainly due to the absence of proceeds from a non-public stock offering Consolidated Cash Flow Statement Summary (YTD 2022-09-30) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -82,550,839.42 | -316,185,740.11 | | Net Cash Flow from Investing Activities | -50,712,854.83 | -427,869,678.24 | | Net Cash Flow from Financing Activities | 52,000,140.67 | 612,388,654.75 | | Net Increase in Cash and Cash Equivalents | -81,263,553.58 | -131,666,763.60 | Audit Opinion The company's Q3 2022 report is unaudited - The company's third-quarter report is unaudited[28]