星星科技(300256) - 2022 Q1 - 季度财报

Key Financial Data Core Financial Indicators In Q1 2022, the company's operating revenue significantly decreased by 86.88% year-over-year, but net loss attributable to shareholders narrowed by 92.12%, with net cash flow from operating activities remaining negative but improving by 47.78% year-over-year, while total assets and shareholders' equity slightly declined from the beginning of the year Core Financial Indicators (RMB) | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 117,830,635.72 | 898,358,862.30 | -86.88% | | Net Profit Attributable to Shareholders (RMB) | -35,098,521.63 | -445,658,935.43 | 92.12% | | Net Cash Flow from Operating Activities (RMB) | -83,715,530.12 | -160,298,217.10 | 47.78% | | Basic Earnings Per Share (RMB/share) | -0.04 | -0.47 | 91.49% | | Indicator | Period-End | Year-End | Change from Year-End | | Total Assets (RMB) | 3,144,130,593.82 | 3,227,079,631.61 | -2.57% | | Equity Attributable to Shareholders (RMB) | 285,949,537.43 | 321,048,059.06 | -10.93% | - Non-recurring gains and losses totaled 0.52 million RMB during the reporting period, primarily from government subsidies and other non-operating income and expenses[5][7] Analysis of Financial Indicator Changes During the reporting period, several financial indicators experienced significant changes, with inventory increasing by 88.58% due to goods issued but revenue unconfirmed, while cash, accounts receivable financing, notes payable, and long-term borrowings significantly decreased, and profit and loss statement items, including operating revenue, costs, and various expenses, all saw substantial year-over-year declines due to changes in consolidation scope, with operating revenue decreasing by 86.88% Balance Sheet Item Changes | Balance Sheet Item | Change Percentage | Primary Reason | | :--- | :--- | :--- | | Cash and Bank Balances | -45.09% | Decrease in bill deposits due to matured bank acceptance bills | | Accounts Receivable Financing | -76.14% | Matured bank acceptance bills collected and endorsed for payment | | Inventory | 88.58% | Goods issued but revenue not yet recognized | | Other Current Assets | 690.07% | Increase in VAT awaiting certification | | Notes Payable | -82.85% | Matured bills settled | | Long-term Borrowings | -100.00% | Decrease in long-term borrowings | Income Statement Item Changes | Income Statement Item | Change Percentage | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | -86.88% | Decrease in sales revenue | | Operating Cost | -90.49% | Decrease in sales revenue | | Selling Expenses | -80.90% | Change in consolidation scope | | Administrative Expenses | -74.99% | Change in consolidation scope | | Research and Development Expenses | -85.72% | Change in consolidation scope | | Financial Expenses | -69.97% | Change in consolidation scope | Shareholder Information Shareholding Status As of the end of the reporting period, the company had 38,045 common shareholders, with Pingxiang Fantike Network Technology Co., Ltd. being the largest shareholder, holding 144.06 million shares, or 15.04% of total shares, and among the top ten shareholders, Pingxiang Zhongzhou Xinan and Shenzhen Demao Investment have portions of their shares pledged or frozen - As of the end of the reporting period, the company had 38,045 common shareholders[13] Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | Share Status | | :--- | :--- | :--- | :--- | | Pingxiang Fantike Network Technology Co., Ltd. | 15.04% | 144,056,026 | - | | Pingxiang Zhongzhou Xinan Commercial Management Center (Limited Partnership) | 2.78% | 26,663,137 | Pledged 14,000,000 | | Shenzhen Demao Investment Development Co., Ltd. | 2.58% | 24,718,728 | Frozen 15,518,254, Pledged 15,000,000 | | Xingxing Group Co., Ltd. | 1.45% | 13,890,026 | - | | Ye Xianyu | 1.27% | 12,197,017 | - | - Explanation of related party relationships: Xingxing Group Co., Ltd. is controlled by Ye Xianyu. The company is unaware of any other related party relationships or concerted actions among other shareholders[16] Changes in Restricted Shares During the reporting period, some of the company's restricted shares changed due to executive departures, with Li Weimin and Chen Meifen collectively releasing 29,532 shares, while Chen Xiaoling increased restricted shares by 750 Restricted Share Movement | Shareholder Name | Restricted Shares at Beginning of Period | Shares Released This Period | Shares Increased This Period | Restricted Shares at End of Period | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Li Weimin | 59,062 | 14,766 | 0 | 44,296 | Executive Departure Lock-up | | Chen Meifen | 59,062 | 14,766 | 0 | 44,296 | Executive Departure Lock-up | | Chen Xiaoling | 0 | 0 | 750 | 750 | Executive Departure Lock-up | | Total | 118,124 | 29,532 | 750 | 89,342 | - | Other Significant Matters The company faced multiple significant challenges during the reporting period, including its own pre-restructuring, substantive consolidated restructuring or bankruptcy liquidation of several subsidiaries, and an investigation by the China Securities Regulatory Commission for alleged information disclosure violations, along with multiple lawsuits - The company is currently undergoing pre-restructuring related matters[20] - Several of the company's subsidiaries, including Pingxiang Xingxing Touch Control, Xingxing Precision (Shenzhen), Xingxing Precision (Dongguan), Pingxiang Xingzhu Precision, and Pingxiang Xingxing Precision Glass, have entered substantive consolidated restructuring or bankruptcy liquidation procedures[20] - The company received a "Notice of Case Filing" from the China Securities Regulatory Commission on January 28, 2022, and is under investigation for alleged information disclosure violations[20] - The company and its subsidiaries are involved in multiple lawsuits[20] Financial Statements Consolidated Balance Sheet As of March 31, 2022, the company's total assets were 3.14 billion RMB, a 2.57% decrease from the beginning of the year; total liabilities were 2.86 billion RMB, a 1.65% decrease from the beginning of the year, with equity attributable to parent company owners at 285.95 million RMB, a 10.93% decrease from the beginning of the year, primarily due to the current period's loss, and the asset-liability ratio slightly increased from 89.94% at the beginning of the year to 90.95% Consolidated Balance Sheet (RMB) | Item | Period-End Balance (RMB) | Year-End Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 3,144,130,593.82 | 3,227,079,631.61 | | Total Liabilities | 2,858,545,017.07 | 2,906,386,888.83 | | Total Equity Attributable to Parent Company Owners | 285,949,537.43 | 321,048,059.06 | | Total Owners' Equity | 285,585,576.75 | 320,692,742.78 | Consolidated Income Statement In Q1 2022, the company's operating revenue was 117.83 million RMB, a significant 86.88% year-over-year decrease, and despite the revenue decline, operating loss narrowed from 435.55 million RMB in the prior year to 35.27 million RMB, as costs and expenses, especially operating costs, decreased more substantially, with net loss attributable to parent company owners at 35.10 million RMB, a significant reduction from the 445.66 million RMB loss in the prior year Consolidated Income Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 117,830,635.72 | 898,358,862.30 | | Total Operating Costs | 153,632,359.45 | 1,327,726,564.89 | | Operating Profit | -35,274,954.39 | -435,547,011.74 | | Net Profit | -35,107,166.03 | -443,305,535.27 | | Net Profit Attributable to Parent Company Owners | -35,098,521.63 | -445,658,935.43 | | Basic Earnings Per Share | -0.04 | -0.47 | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -83.72 million RMB, an outflow but a significant improvement from -160.30 million RMB in the prior year, and net cash outflow from investing activities sharply decreased to 0.75 million RMB, with net cash inflow from financing activities at 80.00 million RMB, primarily from other cash received related to financing activities, with less debt repayment and interest expenses, and cash and cash equivalents at period-end totaling 108.33 million RMB Consolidated Cash Flow Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -83,715,530.12 | -160,298,217.10 | | Net Cash Flow from Investing Activities | -752,169.42 | -114,970,713.61 | | Net Cash Flow from Financing Activities | 80,001,116.05 | 237,322,566.77 | | Net Increase in Cash and Cash Equivalents | -4,593,395.15 | -37,473,683.08 | | Cash and Cash Equivalents at Period-End | 108,332,859.94 | 113,869,561.97 | Audit Opinion The company's Q1 2022 financial report is unaudited - The company's first quarter report is unaudited[43]