博晖创新(300318) - 2023 Q3 - 季度财报

Report Overview Important Notice This report emphasizes the board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of information disclosure, and states that this quarterly report is unaudited - 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[3] - The company's head, chief accountant, and head of accounting department declare: ensuring the truthfulness, accuracy, and completeness of financial information in the quarterly report[3] - The company's third-quarter report is unaudited[4][30] Major Financial Data Key Accounting Data and Financial Indicators The company achieved significant growth in operating revenue and net profit for Q3 2023 and YTD, with net profit attributable to shareholders increasing over 135%, and net cash flow from operating activities surging by 465.78% 2023 Q3 and YTD Key Financial Indicators | Indicator | Current Period (Q3) | YoY Change in Current Period | YTD | YoY Change in YTD | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 279,191,923.62 | 30.40% | 806,104,920.39 | 34.93% | | Net Profit Attributable to Shareholders (CNY) | 8,211,628.53 | 142.03% | 14,137,166.03 | 135.96% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains/Losses (CNY) | 6,889,715.80 | 135.94% | 12,114,341.57 | 129.96% | | Net Cash Flow from Operating Activities (CNY) | -- | -- | 103,617,734.96 | 465.78% | | Basic Earnings Per Share (CNY/share) | 0.0101 | 142.26% | 0.0173 | 135.97% | | Diluted Earnings Per Share (CNY/share) | 0.0101 | 142.26% | 0.0173 | 135.97% | | Weighted Average Return on Net Assets | 0.58% | 1.94% | 1.01% | 5.13% | | Total Assets (CNY) | 3,872,849,081.89 | -0.90% (End of period vs. end of previous year) | -- | -- | | Owners' Equity Attributable to Shareholders (CNY) | 1,408,899,688.08 | 1.10% (End of period vs. end of previous year) | -- | -- | Non-recurring Gains and Losses and Amounts The company's non-recurring gains and losses totaled 2.02 million CNY YTD, primarily from government grants, fair value changes, and other non-operating income/expenses, with a negative impact from non-current asset disposal losses YTD Non-recurring Gains and Losses and Amounts | Item | YTD Amount (CNY) | | :--- | :--- | | Disposal gains/losses of non-current assets | -2,948,849.14 | | Government grants recognized in current profit/loss | 4,626,555.73 | | Gains/losses from changes in fair value and investment income from disposal of financial assets | 1,535,012.12 | | Reversal of impairment provisions for receivables | 807,472.00 | | Other non-operating income and expenses | 2,781,075.96 | | Less: Income tax impact | 762,961.86 | | Minority interests impact (after tax) | 4,015,480.35 | | Total | 2,022,824.46 | Analysis of Changes in Key Accounting Data and Financial Indicators This section analyzes changes in major balance sheet, income statement, and cash flow statement items, reflecting the company's dynamics in debt repayment, receivables management, business growth, and project investments Changes in Major Balance Sheet Items Major Balance Sheet Item Changes (September 30, 2023 vs December 31, 2022) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Monetary Funds | -36.13% | Repayment of related party and bank loans, payment for engineering construction investments, etc | | Accounts Receivable | -34.37% | Strengthened customer collection management, actively urged payment for goods | | Receivables Financing | -97.97% | Subsidiaries used bank acceptance bills to pay for purchases or mature acceptances | | Prepayments | 211.94% | Increase in prepayments for materials | | Other Current Assets | 72.64% | Increase in input VAT credit | | Right-of-use Assets | 127.99% | New property leases | | Deferred Income Tax Assets | 46.93% | Increase in deductible temporary differences due to bad debt provisions | | Other Non-current Assets | -53.46% | Decrease in prepaid engineering costs | | Contract Liabilities | -61.15% | Decrease in advance receipts for goods | | Taxes Payable | -62.01% | Expiration of national deferred tax payment policies, increased tax payments | | Non-current Liabilities Due Within One Year | -67.49% | Repayment of maturing loans | | Other Current Liabilities | -69.76% | Decrease in output VAT corresponding to advance receipts for goods | | Lease Liabilities | 108.79% | New property leases | | Provisions | -31.15% | Decrease in accrued sales rebates and payment of litigation compensation | | Deferred Income | 44.69% | Subordinate companies received government grants for project construction | | Other Comprehensive Income | 86.87% | Exchange rate changes leading to foreign currency statement translation differences | Changes in Major Income Statement Items Major Income Statement Item Changes (January-September 2023 vs January-September 2022) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 34.93% | Sales volume and prices of blood products such as human albumin and IVIG increased year-on-year | | Administrative Expenses | 37.00% | Resumption of work and production at Langfang Bohui, increased material consumption and losses | | Financial Expenses | -39.17% | Decrease in interest expenses due to reduced short-term debt | | Other Income | 42.04% | Increased government subsidies received year-on-year | | Credit Impairment Losses | 360.78% | Increase in bad debt provisions due to increased long-aged receivables | | Asset Impairment Losses | 3238.48% | Provision for inventory depreciation for some slow-moving products | | Gains/Losses from Disposal of Assets (Losses indicated by "-") | 388.01% | Increase in losses from disposal of fixed assets | | Non-operating Income | 1454.03% | Unpayable accounts payable transferred to non-operating income | | Income Tax Expense | 179.98% | Increase in income tax payable due to increased profitability of subsidiaries | Changes in Major Cash Flow Statement Items Major Cash Flow Statement Item Changes (January-September 2023 vs January-September 2022) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Cash received from sales of goods and provision of services | 35.03% | Revenue growth and strengthened customer collection management | | Tax refunds received | -100.00% | Input tax credit refunds in the prior period, none in the current period | | Taxes and surcharges paid | 190.14% | Significant revenue growth, subsidiaries paid land transfer related taxes, paid deferred taxes from prior period | | Cash received relating to other investing activities | -96.92% | Input tax credit refunds in the prior period, none in the current period | | Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 30.46% | Increased expenditures for Yunnan blood product project, Langfang Bohui resumption of work, and establishment of new plasma stations | | Cash paid relating to other investing activities | -100.00% | No bank wealth management business in the current period | | Cash received from absorbing investments | -100.00% | Subsidiaries absorbed minority shareholder investments in the prior period, none in the current period | | Cash paid for repayment of debts | 50.60% | Increased repayment of bank loans | | Cash paid for distribution of dividends, profits or interest payments | 111.68% | Increased interest payments on bank loans | | Cash paid relating to other financing activities | -35.84% | Decreased repayment of related party loans | | Effect of exchange rate changes on cash and cash equivalents | -32377.17% | Foreign currency exchange rate differences | Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 38,270 common shareholders, with Du Jiangtao and his related parties holding a significant combined stake, and Du Jiangtao as the largest shareholder with 39.03% - The total number of common shareholders at the end of the reporting period was 38,270[15] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Du Jiangtao | Domestic Natural Person | 39.03% | 318,811,388 | 0 | | Hao Hong | Domestic Natural Person | 12.59% | 102,809,951 | 0 | | Yang Qi | Domestic Natural Person | 3.09% | 25,274,802 | 0 | | Du Jianghong | Domestic Natural Person | 3.00% | 24,478,560 | 18,358,920 | | Mei Yingjun | Domestic Natural Person | 1.94% | 15,827,755 | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 0.94% | 7,647,302 | 0 | | He Xiaoyu | Domestic Natural Person | 0.85% | 6,959,818 | 0 | | Lu Yang | Domestic Natural Person | 0.61% | 5,000,000 | 0 | | Gu Chunyu | Domestic Natural Person | 0.54% | 4,400,100 | 0 | | Liu Hepu | Domestic Natural Person | 0.35% | 2,836,245 | 0 | - Among the top ten shareholders, Du Jiangtao and Hao Hong are a married couple, and Du Jiangtao and Du Jianghong are siblings, indicating an associated relationship[15] Changes in Restricted Shares During the reporting period, restricted shareholdings of executives Zhang Lei and Niu Shuhui changed, with Niu Shuhui releasing 178,500 shares and Zhang Lei adding 285,663 shares, resulting in a slight increase in total restricted shares Changes in Restricted Shares (Unit: shares) | Shareholder Name | Beginning Restricted Shares | Shares Released in Current Period | Shares Added in Current Period | Ending Restricted Shares | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhang Lei | 856,989 | 0 | 285,663 | 1,142,652 | Executive Lock-up Shares | | Zhai Xiaofeng | 245,858 | 0 | 0 | 245,858 | Executive Lock-up Shares | | Niu Shuhui | 716,362 | 178,500 | 288 | 538,150 | Executive Lock-up Shares | | Du Jianghong | 18,358,920 | 0 | 0 | 18,358,920 | Executive Lock-up Shares | | Hu Lanlan | 2,091 | 0 | 0 | 2,091 | Executive Lock-up Shares | | Total | 20,180,220 | 178,500 | 285,951 | 20,287,671 | -- | Other Important Matters Guaranteed Credit Limits and Progress The company's board and shareholders approved a 1.2 billion CNY credit guarantee limit for controlling subsidiaries in 2023, with 186 million CNY in receivables guarantee provided for Hebei Bohui's plasma stations to Zheshang Bank during the reporting period - The company approved providing credit guarantees for Hebei Bohui, Inner Mongolia Bohui, and Guangdong Weilun from banks and other financial institutions, with a total amount not exceeding 1.2 billion CNY[18] - In July 2023, the company signed 7 "Receivables Confirmation Agreements" with Zheshang Bank, providing guarantees for the transfer of 186 million CNY in receivables from 6 plasma stations under Hebei Bohui[18] Quarterly Financial Statements Consolidated Balance Sheet As of September 30, 2023, the company's total assets were 3.87 billion CNY, a slight decrease from the beginning of the year, with total current assets at 1.05 billion CNY and non-current assets at 2.83 billion CNY Consolidated Balance Sheet Key Data (September 30, 2023 vs January 1, 2023) | Item | September 30, 2023 (CNY) | January 1, 2023 (CNY) | | :--- | :--- | :--- | | Total Assets | 3,872,849,081.89 | 3,908,002,277.01 | | Total Current Assets | 1,046,321,438.84 | 1,140,130,256.34 | | Total Non-current Assets | 2,826,527,643.05 | 2,767,872,020.67 | | Total Liabilities | 1,533,317,733.85 | 1,584,123,343.91 | | Total Current Liabilities | 989,945,179.47 | 1,122,836,561.25 | | Total Non-current Liabilities | 543,372,554.38 | 461,286,782.66 | | Total Owners' Equity | 2,339,531,348.04 | 2,323,878,933.10 | | Total Owners' Equity Attributable to Parent Company | 1,408,899,688.08 | 1,393,532,991.70 | Consolidated Income Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, the company's total operating revenue reached 806.10 million CNY, a 34.93% increase year-on-year, achieving a net profit of 14.42 million CNY from a prior-year loss Consolidated Income Statement Key Data (January-September 2023 vs January-September 2022) | Item | January-September 2023 (CNY) | January-September 2022 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 806,104,920.39 | 597,413,453.96 | | Total Operating Costs | 772,229,494.76 | 679,084,214.56 | | Operating Profit | 30,320,163.13 | -79,895,791.55 | | Total Profit | 29,682,240.40 | -82,851,670.84 | | Income Tax Expense | 15,259,355.81 | 5,450,161.37 | | Net Profit | 14,422,884.59 | -88,301,832.21 | | Net Profit Attributable to Parent Company Shareholders | 14,137,166.03 | -39,318,798.46 | | Minority Interest Income/Loss | 285,718.56 | -48,983,033.75 | | Total Comprehensive Income | 15,652,414.94 | -84,160,488.27 | | Basic Earnings Per Share | 0.0173 | -0.0481 | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period As of September 30, 2023, net cash flow from operating activities was 103.62 million CNY, a significant improvement, while investing activities resulted in a net outflow of 150.80 million CNY, and financing activities generated a net inflow of 3.56 million CNY Consolidated Cash Flow Statement Key Data (January-September 2023 vs January-September 2022) | Item | January-September 2023 (CNY) | January-September 2022 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 103,617,734.96 | -28,327,997.49 | | Net Cash Flow from Investing Activities | -150,795,903.23 | -70,479,138.29 | | Net Cash Flow from Financing Activities | 3,563,270.52 | 161,112,292.32 | | Net Increase in Cash and Cash Equivalents | -44,169,258.18 | 62,306,874.04 | | Cash and Cash Equivalents at End of Period | 63,634,797.87 | 96,772,123.51 | Accounting Standards and Audit Status The company did not adopt new accounting standards for the first time in 2023, and this quarterly report remains unaudited - The company did not adjust financial statements at the beginning of the first execution year for new accounting standards starting in 2023[30] - The company's third-quarter report is unaudited[30]