东软载波(300183) - 2022 Q3 - 季度财报

I. Key Financial Data Key Accounting Data and Financial Indicators In Q3 2022, revenue decreased by 5.30% year-over-year, while net profit attributable to shareholders increased by 8.47%; year-to-date, revenue grew 16.90% and net profit 32.77%, but operating cash flow was negative, declining 175.18% Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change (Current Period) | Year-to-Date | YoY Change (Year-to-Date) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 245,836,078.72 | -5.30% | 639,696,042.43 | 16.90% | | Net Profit Attributable to Shareholders (CNY) | 40,888,377.83 | 8.47% | 91,106,368.57 | 32.77% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (CNY) | 33,539,218.25 | 0.85% | 67,167,328.18 | 18.83% | | Net Cash Flow from Operating Activities (CNY) | -- | -- | -93,789,710.62 | -175.18% | | Basic Earnings Per Share (CNY/share) | 0.0884 | 8.47% | 0.1969 | 32.77% | | Total Assets (CNY) | 3,462,338,414.38 | 1.50% (vs. End of Prior Year) | | | | Total Equity Attributable to Shareholders (CNY) | 3,073,089,636.89 | 0.71% (vs. End of Prior Year) | | | Non-recurring Gains and Losses Year-to-date, non-recurring gains and losses totaled 23.94 million CNY, significantly contributing to net profit, primarily from fair value changes in financial assets and reversal of impairment provisions Key Non-recurring Gains and Losses (Year-to-Date) | Item | Amount Year-to-Date (CNY) | | :--- | :--- | | Fair Value Changes and Investment Income from Financial Assets/Liabilities | 16,019,072.79 | | Reversal of Impairment Provisions for Receivables (Individually Assessed) | 12,230,940.00 | | Government Grants Recognized in Current P&L | 3,544,272.23 | | Disposal Gains/Losses on Non-current Assets | 3,376,779.18 | | Debt Restructuring Gains/Losses | -4,762,716.54 | | Total | 23,939,040.39 | Analysis of Changes in Key Accounting Data and Financial Indicators Significant changes occurred in the balance sheet and income statement, with increased inventory and prepayments for stock, decreased cash and increased financial assets due to wealth product purchases, and higher credit impairment reversals and fair value gains on wealth products boosting profit - Due to new wealth management product purchases, the company's cash and cash equivalents decreased by 34.82%, while trading financial assets significantly increased by 241.90%[12] - To meet market demand, the company increased inventory, leading to a 117.23% growth in inventories and a 267.38% increase in prepayments[12] - On the income statement, credit impairment losses increased by 670.60% year-over-year due to the reversal of individually assessed bad debt provisions; fair value changes in wealth management products and disposal of non-current assets also generated 12.69 million CNY and 3.10 million CNY in gains, respectively[12] II. Shareholder Information Shareholding Structure As of the reporting period end, the company had 30,351 common shareholders, with the top four shareholders collectively holding over 51%, indicating a relatively concentrated equity structure and no concerted action among the top ten - As of the end of the reporting period, the company had 30,351 common shareholders[13] Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Cui Jian | 16.06% | 74,282,700 | | Shenzhen Shanhui Investment Management Co., Ltd. - Foshan Lanhaisheng Equity Investment Partnership (Limited Partnership) | 14.87% | 68,775,700 | | Wang Rui | 10.22% | 47,270,800 | | Hu Yajun | 10.22% | 47,270,800 | | Chen Yiqing | 2.85% | 13,199,800 | IV. Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2022, total assets were 3.46 billion CNY, up 1.50% from the year-start, with current assets comprising 77% and cash/financial assets 55% of total assets; total liabilities were 382.68 million CNY, resulting in a stable debt-to-asset ratio of approximately 11% Key Items from Consolidated Balance Sheet (September 30, 2022) | Item | Amount (CNY) | Change vs. Year-Start | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,207,467,667.43 | -34.82% | | Trading Financial Assets | 685,685,295.17 | 241.90% | | Inventories | 377,598,483.56 | 117.23% | | Total Assets | 3,462,338,414.38 | 1.50% | | Total Liabilities | 382,683,135.99 | 9.78% | | Total Equity Attributable to Parent Company Shareholders | 3,073,089,636.89 | 0.71% | Consolidated Income Statement (Year-to-Date) For the first three quarters of 2022, total operating revenue reached 639.70 million CNY, up 16.90%; operating profit was 116.21 million CNY, up 64.81%; and net profit attributable to shareholders was 91.11 million CNY, up 32.77%, driven by revenue growth, credit impairment reversals, and fair value gains Key Items from Consolidated Income Statement (Jan-Sep 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 639,696,042.43 | 547,228,750.44 | 16.90% | | Total Operating Costs | 564,263,635.53 | 502,174,208.53 | 12.36% | | Operating Profit | 116,213,883.43 | 70,513,749.66 | 64.81% | | Total Profit | 114,050,166.41 | 70,625,702.33 | 61.49% | | Net Profit | 89,909,881.44 | 68,162,085.11 | 31.91% | | Net Profit Attributable to Parent Company Shareholders | 91,106,368.57 | 68,621,514.49 | 32.77% | Consolidated Cash Flow Statement (Year-to-Date) For the first three quarters of 2022, net cash flow from operating activities turned negative at -93.79 million CNY due to increased purchases; investing activities saw a 316.51 million CNY net outflow for wealth products; financing activities had a 73.80 million CNY net outflow, leading to a total 484.06 million CNY net decrease in cash and equivalents Key Items from Consolidated Cash Flow Statement (Jan-Sep 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -93,789,710.62 | 124,748,434.94 | | Net Cash Flow from Investing Activities | -316,510,242.86 | -14,594,769.06 | | Net Cash Flow from Financing Activities | -73,795,064.87 | -93,012,054.60 | | Net Increase/Decrease in Cash and Cash Equivalents | -484,060,013.58 | 17,097,053.97 | V. Audit Information Audit Opinion The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited[34]