福安药业(300194) - 2021 Q3 - 季度财报

Key Financial Data Key Accounting Data and Financial Indicators In Q3 2021, the company's operating revenue decreased by 8.15% year-over-year, but net profit attributable to shareholders increased by 13.48% year-over-year, while cumulative year-to-date revenue slightly increased by 0.31% and net profit attributable to shareholders decreased by 8.73% Key Accounting Data and Financial Indicators | Indicator | Current Period (2021 Q3) | YoY Change in Current Period | Year-to-Date (2021 Q1-Q3) | YoY Change in Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (million yuan) | 604.89 | -8.15% | 1,826.31 | 0.31% | | Net Profit Attributable to Shareholders (million yuan) | 71.68 | 13.48% | 178.44 | -8.73% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (million yuan) | 66.65 | 9.11% | 160.89 | -13.39% | | Net Cash Flow from Operating Activities (million yuan) | - | - | 85.21 | -17.81% | | Basic Earnings Per Share (yuan/share) | 0.06 | 20.00% | 0.15 | -6.25% | | Total Assets (billion yuan) | 6.13 | 2.58% (vs. end of prior year) | - | - | | Owners' Equity Attributable to Shareholders (billion yuan) | 4.22 | 2.91% (vs. end of prior year) | - | - | Non-Recurring Gains and Losses Items and Amounts From year-start to report end, the company's non-recurring gains and losses totaled 17.55 million yuan, primarily comprising government subsidies of 24.32 million yuan recognized in current profit and loss Non-Recurring Gains and Losses Items and Amounts | Item | Year-to-Date Amount (million yuan) | Explanation | | :--- | :--- | :--- | | Gains and losses from disposal of non-current assets | -1.40 | - | | Government subsidies recognized in current profit and loss | 24.32 | - | | Total | 17.55 | -- | Analysis of Changes and Reasons for Key Financial Indicators During the reporting period, significant changes occurred in certain balance sheet, income statement, and cash flow statement items, including an 88.85% increase in investment properties due to construction, a 141.44% increase in other income from government grants, and a 115.32% decrease in net cash flow from financing activities due to increased bank loan repayments - Investment properties increased by 88.85% compared to the end of the previous year, primarily due to an increase in investment properties under construction[8] - Trading financial assets decreased by 74.78% compared to the end of the previous year, primarily due to a decrease in wealth management products held[8] - Other income increased by 141.44% year-over-year, primarily due to an increase in government subsidies received during the current reporting period[10] - Credit impairment losses decreased by 1142.55% year-over-year (indicating a significant increase in losses), primarily due to an increase in accounts receivable and a corresponding increase in credit impairment provisions[10] - Net cash flow from financing activities decreased by 115.32% year-over-year, primarily due to an increase in bank loan repayments during the current reporting period[11] Shareholder Information Common Shareholder Information As of the end of the reporting period, the company had 45,006 common shareholders, with the largest shareholder, Wang Tianxiang, holding 24.00% of shares, some of which are pledged, and the top ten shareholders including the company's first employee stock ownership plan - The total number of common shareholders at the end of the reporting period was 45,006[12] Top Ten Shareholders' Shareholdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Wang Tianxiang | Domestic Natural Person | 24.00% | 285,499,420 | | Jiang Chen | Domestic Natural Person | 2.53% | 30,062,100 | | Fuan Pharmaceutical (Group) Co., Ltd. - First Employee Stock Ownership Plan | Other | 1.83% | 21,774,713 | Changes in Restricted Shares At the end of the reporting period, the company's total restricted shares were 246,494,372, a decrease of 18,500 shares from the beginning of the period, primarily due to executive lock-up shares, including 214,124,565 shares held by the largest shareholder, Wang Tianxiang Changes in Restricted Shares | Item | Number of Shares (shares) | | :--- | :--- | | Restricted shares at beginning of period | 246,512,872 | | Restricted shares released in current period | 18,500 | | Restricted shares increased in current period | 0 | | Restricted shares at end of period | 246,494,372 | - Restricted shares are primarily executive lock-up shares, where 75% of the total shares held by executives at the end of each year during their tenure are locked up according to regulations[15] Other Significant Matters The company signed an agreement in August 2021 to repurchase 51% equity of its subsidiary Red Realty LLC for $93 million, payable in five installments; however, the first installment of $17 million has not yet been received, prompting the company to take measures to secure the payment - The company signed an "Equity Repurchase Agreement" for SHI YUAN ZHU to repurchase 51% equity of Red Realty LLC held by Fuan Tianheng (USA) Co., Ltd. for $93 million[16] - As of the disclosure date of this report, the company has not yet received the first installment of $17 million for the equity transfer as stipulated in the agreement[17] - The company will take measures such as communication, property preservation, and judicial litigation to protect its interests and will determine whether to accrue asset impairment provisions based on subsequent developments[17] Quarterly Financial Statements Financial Statements This section presents the consolidated balance sheet as of September 30, 2021, and the consolidated income statement and consolidated cash flow statement for the period from year-start to report end Consolidated Balance Sheet As of September 30, 2021, the company's total assets were 6.13 billion yuan, a 2.58% increase from the end of the previous year; total liabilities were 1.46 billion yuan; and total equity attributable to parent company owners was 4.22 billion yuan, a 2.91% increase from the end of the previous year Consolidated Balance Sheet | Item | September 30, 2021 (billion yuan) | December 31, 2020 (billion yuan) | | :--- | :--- | :--- | | Total Assets | 6.13 | 5.97 | | Total Liabilities | 1.46 | 1.42 | | Total Equity Attributable to Parent Company Owners | 4.22 | 4.10 | | Total Owners' Equity | 4.67 | 4.56 | Consolidated Income Statement from Year-Start to Report End In the first three quarters of 2021, the company achieved total operating revenue of 1.83 billion yuan, largely consistent with the prior year, while total operating costs increased, resulting in a net profit attributable to parent company owners of 178.44 million yuan, an 8.73% year-over-year decrease, with basic earnings per share at 0.15 yuan Consolidated Income Statement from Year-Start to Report End | Item | Current Period (2021 Q1-Q3) (billion yuan) | Prior Period (2020 Q1-Q3) (billion yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1.83 | 1.82 | | Operating Profit | 0.20 | 0.23 | | Total Profit | 0.195 | 0.228 | | Net Profit Attributable to Parent Company Owners | 0.178 | 0.195 | | Basic Earnings Per Share (yuan/share) | 0.15 | 0.16 | Consolidated Cash Flow Statement from Year-Start to Report End In the first three quarters of 2021, net cash flow from operating activities was 85.21 million yuan, a 17.81% decrease year-over-year; net cash flow from investing activities was -250.81 million yuan, indicating increased outflows; and net cash flow from financing activities turned negative at -41.84 million yuan, with cash and cash equivalents at 598 million yuan at period-end Consolidated Cash Flow Statement from Year-Start to Report End | Item | Current Period (2021 Q1-Q3) (million yuan) | Prior Period (2020 Q1-Q3) (million yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 85.21 | 103.67 | | Net Cash Flow from Investing Activities | -250.81 | -276.54 | | Net Cash Flow from Financing Activities | -41.84 | 273.10 | | Net Increase in Cash and Cash Equivalents | -208.68 | 93.84 | Explanation of Financial Statement Adjustments The company adopted the revised Lease Accounting Standard (CAS 21) from January 1, 2021, but this accounting policy change had no significant impact on its consolidated financial statements, thus no adjustments were made to the opening financial statements for 2021 - The company adopted the new lease accounting standard from January 1, 2021, but this accounting policy change had no significant impact on its consolidated financial statements[31] Audit Opinion The company's 2021 third-quarter report is unaudited - The company's third-quarter report is unaudited[32]