中海达(300177) - 2022 Q3 - 季度财报

Main Financial Data This section provides an overview of the company's key financial performance indicators, non-recurring gains and losses, and detailed analysis of balance sheet, income statement, and cash flow changes Key Accounting Data and Financial Indicators The company experienced a 24.81% year-on-year decline in operating revenue and a 94.42% drop in net profit attributable to shareholders in the first three quarters of 2022, with Q3 showing a net loss of 57.71 million yuan Key Financial Indicators for Q1-Q3 and Q3 2022 | Indicator | Year-to-Date | Year-to-Date YoY Change | Current Period (Q3) | Current Period (Q3) YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 859,628,447.26 | -24.81% | 296,206,035.42 | -3.26% | | Net Profit Attributable to Shareholders (Yuan) | 2,610,657.30 | -94.42% | -57,713,347.34 | -169.80% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (Yuan) | -69,069,924.60 | -321.95% | -12,432,360.36 | 48.67% | | Net Cash Flow from Operating Activities (Yuan) | -149,855,425.13 | 62.63% | -- | -- | | Basic Earnings Per Share (Yuan/Share) | 0.0035 | -94.53% | -0.0776 | -170.38% | Key Balance Sheet Indicators at Period End | Indicator | End of Current Period | End of Prior Year | Change | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 4,015,388,403.40 | 4,038,475,025.62 | -0.57% | | Equity Attributable to Shareholders (Yuan) | 2,333,195,591.18 | 2,321,975,531.83 | 0.48% | Non-Recurring Gains and Losses and Amounts Year-to-date non-recurring gains and losses totaled 71.68 million yuan, primarily from a 199 million yuan investment gain offset by a 135 million yuan fair value loss Major Non-Recurring Gains and Losses Year-to-Date | Item | Amount (Yuan) | | :--- | :--- | | Investment income from conversion of long-term equity investments to financial instruments | 199,599,488.13 | | Fair value changes in transactional financial assets/liabilities and investment income | -134,711,684.00 | | Government grants recognized in current profit or loss | 25,620,682.04 | | Total | 71,680,581.90 | Analysis of Changes in Key Financial Indicators Significant changes in financial indicators were observed, including increased non-current financial assets and construction in progress, substantial investment income and fair value losses from accounting changes for an associate, and shifts in cash flow activities Changes in Balance Sheet Items Asset-side changes include a 675.71% surge in other non-current financial assets, a 236.37% increase in construction in progress, and a 300.51% rise in development expenditures, while deferred income tax liabilities grew by 324.69% - Other non-current financial assets increased by 675.71% from the beginning of the year, primarily due to losing significant influence over associate Wuhan Guangting Information Technology Co., Ltd., reclassifying it from long-term equity investment, and acquiring shares in Wuhan Tianjihang Information Technology Co., Ltd[9] - Construction in progress increased by 236.37% from the beginning of the year, mainly due to increased investment in the headquarters building construction project[9] - Development expenditures increased by 300.51% from the beginning of the year, primarily due to the company capitalizing R&D expenses in accordance with accounting standards[9] - Deferred income tax liabilities increased by 324.69% from the beginning of the year, mainly due to the reclassification of the investment in associate Wuhan Guangting as a financial asset, creating a taxable temporary difference[10] Changes in Income Statement Items Core income statement changes resulted from reclassifying an investment in Wuhan Guangting, leading to a 201 million yuan investment income (up 2810.01%) and a 136 million yuan fair value change loss (down 5098.27%) - Investment income increased by 2810.01% year-on-year, primarily due to the difference between the fair value and book value recognized as investment income when the company lost significant influence over associate Wuhan Guangting Information Technology Co., Ltd. and reclassified it as a financial asset[10] - Fair value change gains decreased by 5098.27% year-on-year, mainly due to the fair value changes of the reclassified financial asset being recognized in current profit or loss following the aforementioned accounting treatment change[10] Changes in Cash Flow Statement Items Net cash flow from operating activities was -150 million yuan (outflow reduced by 62.63%), investing activities saw a 106 million yuan net outflow, and financing activities decreased by 79.81% due to prior year's private placement - Net cash flow from operating activities was -150 million yuan, an improvement of 62.63% compared to -401 million yuan in the prior year, primarily due to the company strengthening operational cash flow control and reducing procurement expenditures during the reporting period[11] - Net cash flow from investing activities was -106 million yuan, a significant year-on-year decrease of 4441.95%, mainly due to increased net purchases of wealth management products in the current period[11] - Net cash flow from financing activities was 98 million yuan, a year-on-year decrease of 79.81%, primarily because approximately 500 million yuan was raised from a private placement of shares in the prior year[11][12] Shareholder Information This section details the company's ordinary shareholding structure, including the total number of shareholders and the top ten shareholders' holdings, along with changes in restricted shares Ordinary Shareholder Holdings As of the reporting period end, the company had 52,949 ordinary shareholders, with the top two, Liao Dinghai and Liao Wen (father and son), holding a combined 24.68%, indicating concentrated ownership - The total number of ordinary shareholders at the end of the reporting period was 52,949 households[14] Holdings of Top Two Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Liao Dinghai | Domestic Natural Person | 18.85% | 140,281,830 | | Liao Wen | Domestic Natural Person | 5.83% | 43,349,696 | - Shareholder Liao Dinghai and Shareholder Liao Wen are father and son[14] Changes in Restricted Shares Restricted shares held by key executives remained unchanged at 137,913,459 shares, primarily executive restricted shares, with phased release expected from January 1, 2023 - The total number of restricted shares remained unchanged during the reporting period, with 137,913,459 shares at period-end[17] - The restriction is primarily due to executive share restrictions involving key management personnel such as Liao Dinghai and Liao Wen, with most release dates scheduled after January 1, 2023, in accordance with stipulated proportions[17] Other Significant Matters This section outlines the company's decision to change the use of a portion of its raised funds, reallocating capital towards new strategic projects Change in Use of Part of Raised Funds The company reallocated 2020 private placement funds, terminating two projects, using 98.505 million yuan for a subsidiary acquisition, and 159 million yuan for a new intelligent driving R&D project, indicating a strategic shift - The company terminated the implementation of the "Emergency Management Platform Project Based on Spatiotemporal Intelligence Technology" and the "High-Precision GNSS Application Technology R&D Center Project"[18] - The revised uses of funds include: 98.505 million yuan for acquiring a 29.85% equity stake in controlling subsidiary Guangdong Mantianxingyun Information Technology Co., Ltd.; and 159.0806 million yuan for implementing the "Intelligent Driving High-Precision Positioning Software and Hardware Product R&D and Industrialization Project"[18] - Following this change, 25.9905 million yuan of raised funds remain unallocated[19] Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the third quarter of 2022, including the balance sheet, income statement, and cash flow statement Financial Statements This section presents the 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 4.015 billion yuan (down 0.57%), total liabilities 1.402 billion yuan (up 3.84%), and equity attributable to shareholders 2.333 billion yuan (up 0.48%), showing stability Major Items of Consolidated Balance Sheet (Unit: Yuan) | Item | September 30, 2022 | January 1, 2022 | | :--- | :--- | :--- | | Total Assets | 4,015,388,403.40 | 4,038,475,025.62 | | Total Liabilities | 1,402,074,864.68 | 1,350,260,970.04 | | Total Equity Attributable to Parent Company Shareholders | 2,333,195,591.18 | 2,321,975,531.83 | | Total Equity | 2,613,313,538.72 | 2,688,214,055.58 | Consolidated Income Statement In Q1-Q3 2022, total operating revenue was 860 million yuan (down 24.81%), total operating costs 926 million yuan, and net profit attributable to shareholders was 2.61 million yuan (down 94.42%), supported by non-recurring investment income Major Items of Consolidated Income Statement (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 859,628,447.26 | 1,143,214,178.94 | | II. Total Operating Costs | 926,035,675.70 | 1,070,997,878.33 | | III. Operating Profit | 15,513,139.85 | 79,262,907.15 | | IV. Total Profit | 14,482,490.83 | 79,777,077.05 | | Net Profit Attributable to Parent Company Shareholders | 2,610,657.30 | 46,767,776.51 | Consolidated Cash Flow Statement In Q1-Q3 2022, net cash outflows were 150 million yuan from operations and 106 million yuan from investing, offset by 98 million yuan net inflow from financing, leading to a 157 million yuan net decrease in cash and equivalents Major Items of Consolidated Cash Flow Statement (Year-to-Date, Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -149,855,425.13 | -400,955,561.71 | | Net Cash Flow from Investing Activities | -106,131,923.19 | 2,444,336.62 | | Net Cash Flow from Financing Activities | 97,904,407.46 | 484,957,814.08 | | Net Increase in Cash and Cash Equivalents | -157,340,329.73 | 85,697,343.09 | | Cash and Cash Equivalents at Period End | 490,107,380.48 | 591,319,285.82 | Audit Statement The company's third-quarter report for 2022 is unaudited - The company's third-quarter report is unaudited[29]