金明精机(300281) - 2021 Q3 - 季度财报

Important Content Disclaimer This report emphasizes the board of directors, supervisory board, and senior management's assurance of the quarterly report's truthfulness, accuracy, and completeness, and clarifies that this quarterly report has not been audited - The board of directors, supervisory board, and directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions, and bear individual and joint legal responsibility[3] - The company's principal, chief financial officer, and head of the accounting department declare: they guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The third-quarter report has not been audited[4] I. Major Financial Data Major Accounting Data and Financial Indicators The company's operating revenue for the current reporting period (Q3) decreased by 6.82% year-on-year, and net profit attributable to shareholders significantly dropped by 56.43%; however, from the beginning of the year to the end of the reporting period, operating revenue grew by 27.97%, net profit attributable to parent company increased by 5.24%, and net cash flow from operating activities rose by 48.67%, with total assets and owners' equity attributable to parent company also increasing compared to the end of the previous year Major Accounting Data and Financial Indicators for the Current Reporting Period | Indicator | Current Reporting Period (CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 122,430,939.48 | -6.82 | | Net Profit Attributable to Listed Company Shareholders | 7,711,758.88 | -56.43 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses | 4,271,260.31 | -69.36 | | Net Cash Flow from Operating Activities | —— | —— | | Basic Earnings Per Share (CNY/share) | 0.0184 | -56.40 | | Diluted Earnings Per Share (CNY/share) | 0.0184 | -56.40 | | Weighted Average Return on Net Assets | 0.61% | -0.81 | Major Accounting Data and Financial Indicators from Year-Beginning to End of Reporting Period | Indicator | Year-Beginning to End of Reporting Period (CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 379,286,459.03 | 27.97 | | Net Profit Attributable to Listed Company Shareholders | 33,818,136.81 | 5.24 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-recurring Gains and Losses | 24,402,217.73 | 38.02 | | Net Cash Flow from Operating Activities | 69,976,409.94 | 48.67 | | Basic Earnings Per Share (CNY/share) | 0.0807 | 5.22 | | Diluted Earnings Per Share (CNY/share) | 0.0807 | 5.22 | | Weighted Average Return on Net Assets | 2.66% | 0.07 | Major Accounting Data and Financial Indicators at the End of the Current Reporting Period | Indicator | End of Current Reporting Period (CNY) | End of Previous Year (CNY) | Change from Previous Year-End (%) | | :--- | :--- | :--- | | Total Assets | 1,468,983,121.84 | 1,429,565,073.53 | 2.76 | | Owners' Equity Attributable to Listed Company Shareholders | 1,280,582,542.60 | 1,258,494,263.89 | 1.76 | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the current reporting period amounted to CNY 3.44 million, and CNY 9.42 million from the beginning of the year to the end of the reporting period, primarily from government subsidies and gains/losses from entrusted investments or asset management Non-recurring Gains and Losses Items and Amounts (Unit: CNY) | Item | Amount for Current Reporting Period | Amount from Year-Beginning to End of Reporting Period | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -15,623.36 | 414.17 | | Government Subsidies Included in Current Profit and Loss | 1,162,392.00 | 3,373,891.22 | | Gains and Losses from Entrusted Investment or Asset Management | 2,897,188.68 | 7,668,265.59 | | Other Non-operating Income and Expenses Apart from the Above | -2,805.00 | 15,495.00 | | Less: Income Tax Impact | 600,653.75 | 1,642,146.90 | | Total | 3,440,498.57 | 9,415,919.08 | Changes and Reasons for Major Accounting Data and Financial Indicators During the reporting period, several accounting data and financial indicators experienced significant changes, with trading financial assets and accounts receivable decreasing, while prepayments, other current assets, and non-current assets grew due to increased orders, wealth management product purchases, and expansion needs; short-term borrowings were cleared, and contract liabilities increased due to more orders, while operating costs rose, financial expenses significantly decreased due to interest changes, investment income declined, net cash flow from operating activities increased, net cash flow from investing activities turned negative, and net cash flow from financing activities improved - Trading financial assets balance decreased by 100.00% to CNY 0.00 from the beginning of the period, primarily due to the maturity and recovery of these assets during the period[8] - Accounts receivable balance decreased by 31.14% from the beginning of the period, mainly due to accelerated cash recovery and collection of goods payments during the period[8] - Prepayments increased by 39.69% from the beginning of the period, primarily due to increased orders, higher inventory preparation, and increased advance payments for purchases[8] - Other current assets balance increased by 77.99% from the beginning of the period, mainly due to increased purchases of wealth management products during the period[9] - Construction in progress balance decreased by 98.66% from the beginning of the period, primarily due to completed projects being transferred to fixed assets accounting during the period[9] - Short-term borrowings balance decreased by 100.00% to CNY 0.00 from the beginning of the period, mainly due to the repayment of bank loans during the period[9] - Contract liabilities balance increased by 38.35% from the beginning of the period, primarily due to increased orders and more advance payments received from customers during the period[9] - Operating costs increased by 33.05% compared to the previous period, mainly due to increased sales of film products and rising material costs during the period[11] - Financial expenses decreased by 479.71% compared to the previous period, primarily due to reduced bank loan interest expenses and increased bank deposit interest income during the period[11] - Net cash flow from operating activities increased by 48.67% compared to the previous period, mainly due to increased cash received from sales of goods and provision of services[11] - Net cash flow from investing activities decreased by 135.75% compared to the previous period, primarily due to reduced recovery of matured wealth management products during the current reporting period compared to the previous period[11] II. Shareholder Information Total Number of Common Shareholders and Shareholding of Top Ten Shareholders As of the end of the reporting period, the company had 17,643 common shareholders, with Ma Zhenxin and his concerted parties (Yu Suqin, Ma Jiaxun) holding a significant combined stake, and Guangzhou Wanbao Changrui Investment Co., Ltd. and Guangzhou Wanbao Group Co., Ltd. also holding substantial shares as state-owned legal entities, while some shareholders have pledged shares - The total number of common shareholders at the end of the reporting period was 17,643[14] Shareholding of Top 10 Shareholders (Unit: Shares) | Shareholder Name | Shareholder Nature | Shareholding Ratio | Shareholding Quantity | Restricted Shares Held | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Ma Zhenxin | Domestic Natural Person | 16.85% | 70,576,227 | 0 | None | | Guangzhou Wanbao Changrui Investment Co., Ltd. | State-owned Legal Entity | 13.77% | 57,702,344 | 0 | None | | Guangzhou Wanbao Group Co., Ltd. | State-owned Legal Entity | 13.57% | 56,867,977 | 0 | None | | Ma Jiaxun | Domestic Natural Person | 4.40% | 18,446,131 | 13,834,598 | None | | Yu Suqin | Domestic Natural Person | 2.43% | 10,170,844 | 7,628,133 | None | | Hainan Haiyao Investment Co., Ltd. | Domestic Non-state-owned Legal Entity | 2.18% | 9,114,426 | 0 | Pledged 3,928,500 | - Among the top ten shareholders, Yu Suqin is Ma Zhenxin's spouse, Ma Jiaxun is Ma Zhenxin's son, and Yu Suqin and Ma Jiaxun are concerted parties of Ma Zhenxin; Guangzhou Wanbao Changrui Investment Co., Ltd. and Guangzhou Wanbao Group Co., Ltd. are controlled by the same entity and constitute concerted parties[15] Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred Shareholders The company has no preferred shareholders - The company has no preferred shareholders[16] Changes in Restricted Shares During the reporting period, the total number of restricted shares remained unchanged, primarily consisting of executive lock-up shares held by Ma Jiaxun, Yu Suqin, and Li Hao Changes in Restricted Shares (Unit: Shares) | Shareholder Name | Restricted Shares at Period Beginning | Restricted Shares Released This Period | Restricted Shares Increased This Period | Restricted Shares at Period End | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Ma Jiaxun | 13,834,598 | 0 | 0 | 13,834,598 | Executive Lock-up Shares | | Yu Suqin | 7,628,133 | 0 | 0 | 7,628,133 | Executive Lock-up Shares | | Li Hao | 134,937 | 0 | 0 | 134,937 | Executive Lock-up Shares | | Total | 21,597,668 | 0 | 0 | 21,597,668 | -- | III. Other Significant Matters For strategic development needs, the company established a wholly-owned subsidiary, Shenzhen Zhihui Yunduan Software Technology Co., Ltd., in Shenzhen, Guangdong Province, with a registered capital of CNY 5 million, and has completed industrial and commercial registration - The company established a wholly-owned subsidiary, Shenzhen Zhihui Yunduan Software Technology Co., Ltd., in Shenzhen, Guangdong Province, using its own funds[16] - The subsidiary's registered capital is CNY 5 million, and it has completed industrial and commercial registration procedures[16] - The establishment is driven by the company's strategic development needs[16] IV. Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2021, the company's total assets increased by 2.76% compared to the end of 2020, reaching CNY 1.47 billion, with monetary funds remaining stable and other current assets significantly growing due to increased wealth management products, while fixed assets increased and construction in progress significantly decreased due to project transfers, and both total liabilities and total owners' equity increased Major Items of Consolidated Balance Sheet (Unit: CNY) | Item | September 30, 2021 | December 31, 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 256,777,109.08 | 254,208,596.26 | 1.01 | | Trading Financial Assets | 0.00 | 80,858,237.52 | -100.00 | | Other Current Assets | 322,648,213.49 | 181,277,048.85 | 77.99 | | Fixed Assets | 489,865,691.12 | 400,058,564.85 | 22.45 | | Construction in Progress | 1,390,518.54 | 103,439,695.89 | -98.66 | | Short-term Borrowings | 0.00 | 3,000,000.00 | -100.00 | | Contract Liabilities | 79,107,232.65 | 57,177,581.46 | 38.35 | | Total Assets | 1,468,983,121.84 | 1,429,565,073.53 | 2.76 | | Total Liabilities | 188,400,579.24 | 171,070,809.64 | 10.13 | | Total Owners' Equity | 1,280,582,542.60 | 1,258,494,263.89 | 1.76 | Consolidated Income Statement from Year-Beginning to End of Reporting Period From the beginning of the year to the end of the reporting period, the company's total operating revenue increased by 27.97% to CNY 379.29 million, with operating costs rising by 33.05%, financial expenses turning from positive to negative due to interest changes, R&D expenses growing by 27.99%, net profit increasing by 5.24%, and basic earnings per share growing proportionally Major Items of Consolidated Income Statement from Year-Beginning to End of Reporting Period (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 379,286,459.03 | 296,377,708.27 | 27.97 | | Operating Costs | 309,596,790.63 | 232,690,039.91 | 33.05 | | Taxes and Surcharges | 1,095,009.72 | 1,248,008.72 | -12.34 | | Selling Expenses | 11,045,568.58 | 10,893,604.26 | 1.39 | | Administrative Expenses | 15,885,311.49 | 16,689,113.18 | -4.81 | | Research and Development Expenses | 21,118,610.59 | 16,500,692.16 | 27.99 | | Financial Expenses | -6,097,123.32 | 1,605,750.36 | -479.71 | | Investment Income | 7,668,265.59 | 12,569,577.78 | -38.99 | | Net Profit | 33,818,136.81 | 32,135,148.86 | 5.24 | | Net Profit Attributable to Parent Company Owners | 33,818,136.81 | 32,135,148.86 | 5.24 | | Basic Earnings Per Share | 0.0807 | 0.0767 | 5.22 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period From the beginning of the year to the end of the reporting period, net cash flow from operating activities significantly increased by 48.67% due to higher cash received from sales and services, while net cash flow from investing activities turned negative, decreasing by 135.75% primarily due to reduced recovery of matured wealth management products, and net cash flow from financing activities, though still negative, saw a reduced outflow of 88.08% mainly due to decreased repayment of bank loans Major Items of Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 69,976,409.94 | 47,066,783.29 | 48.67 | | Net Cash Flow from Investing Activities | -53,667,697.59 | 150,130,385.61 | -135.75 | | Net Cash Flow from Financing Activities | -14,760,245.67 | -123,781,234.87 | 88.08 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -561,974.83 | 491,160.02 | -214.42 | | Net Increase in Cash and Cash Equivalents | 986,491.85 | 73,907,094.05 | -98.66 | | Cash and Cash Equivalents at Period End | 254,344,473.24 | 183,512,843.03 | 38.59 | Explanation of Financial Statement Adjustments The company did not adjust the financial statements at the beginning of the current year or retrospectively adjust prior period comparative data due to the first-time adoption of new lease accounting standards - The first-time adoption of new lease accounting standards from 2021 did not result in adjustments to relevant items in the financial statements at the beginning of the current year[29] - The first-time adoption of new lease accounting standards from 2021 did not involve retrospective adjustments to prior period comparative data[29] Audit Report This quarterly report has not been audited - The company's third-quarter report has not been audited[29]