昇辉科技(300423) - 2021 Q1 - 季度财报

Important Notice The company's board, supervisory board, and senior management, along with key financial officers, guarantee the accuracy and completeness of this quarterly report and its financial statements - The company's Board of Directors, Supervisory Board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report and assume corresponding legal responsibilities[4] - Company head Ji Faqing, chief accountant Zhang Yi, and head of accounting department Wang Mingzhi guarantee the truthfulness, accuracy, and completeness of the financial statements in this quarterly report[5] Company Overview This section provides an overview of the company's key financial performance, shareholder structure, and changes in restricted shares during the reporting period Key Accounting Data and Financial Indicators In Q1 2021, the company experienced a 16.35% year-over-year decline in operating revenue to 488.89 million Yuan and an 18.48% decrease in net profit attributable to shareholders to 58.48 million Yuan, while net cash flow from operating activities significantly improved by 66.95% to -100.16 million Yuan Key Financial Indicators for Q1 2021 | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 488,891,908.51 | 584,419,299.13 | -16.35% | | Net Profit Attributable to Shareholders (Yuan) | 58,478,170.32 | 71,731,794.94 | -18.48% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (Yuan) | 52,677,929.07 | 71,028,628.99 | -25.84% | | Net Cash Flow from Operating Activities (Yuan) | -100,155,028.19 | -303,042,583.40 | 66.95% | | Basic Earnings Per Share (Yuan/share) | 0.12 | 0.15 | -20.00% | | Weighted Average Return on Net Assets | 1.44% | 2.05% | -0.61% | | Total Assets (Yuan) | 8,014,283,873.33 | 8,085,292,188.39 | -0.88% (vs. end of previous year) | | Net Assets Attributable to Shareholders (Yuan) | 4,099,385,682.50 | 4,038,050,529.68 | 1.52% (vs. end of previous year) | - During the reporting period, the company's total non-recurring gains and losses amounted to 5.80 million Yuan, primarily from government subsidies and wealth management income[9] Shareholder Information As of the end of the reporting period, the company had 17,502 common shareholders, with the top two shareholders, Ji Faqing and Li Zhaoqiang, holding 24.30% and 23.11% respectively, indicating a relatively concentrated equity structure Top Two Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares Held (shares) | Number of Pledged Shares (shares) | | :--- | :--- | :--- | :--- | | Ji Faqing | 24.30% | 121,129,196 | 83,929,900 | | Li Zhaoqiang | 23.11% | 115,194,849 | - | - As of the end of the reporting period, the company had a total of 17,502 common shareholders[11] Changes in Restricted Shares During the reporting period, the company's total restricted shares decreased from 240 million at the beginning to 187 million at the end, primarily due to the release of restricted shares held by certain executives, with Li Zhaoqiang having the largest release of 27.97 million shares - During this reporting period, the company collectively released 52,925,434 restricted shares, with the total restricted shares at period-end being 187,298,743 shares[15] - Changes in restricted shares were primarily due to the unlocking of executive lock-up shares and equity incentive restricted shares, with Li Zhaoqiang and Ji Faqing among others having portions of their shares released[14] Significant Events This section details significant financial and operational changes, business developments, and investor relations activities during the reporting period Analysis of Significant Changes in Key Financial Data During the reporting period, several financial indicators showed significant changes, including a 33.68% decrease in financial expenses due to financing structure adjustments, an 86.05% increase in investment income from wealth management, and substantial improvements in operating and investing cash flows, alongside a significant increase in financing cash flow due to new borrowings Changes and Reasons for Key Financial Indicators | Item | Change Percentage | Explanation of Significant Change | | :--- | :--- | :--- | | Prepayments | 98.39% | Prepayment of some goods for operational needs | | Financial Expenses | -33.68% | Adjustment of financing structure, reduction in interest expenses | | Investment Income | 86.05% | Increase in wealth management and other income | | Other Income | 3502.94% | Increase in government subsidies | | Net Cash Flow from Operating Activities | 66.95% | Improved sales collection compared to the prior year | | Net Cash Flow from Investing Activities | 591.23% | Redemption of wealth management products, etc | | Net Cash Flow from Financing Activities | 1572.92% | Increased borrowings based on production and operational needs | Business Review and Outlook The company's Q1 operating revenue declined year-over-year, primarily due to macroeconomic real estate policy adjustments slowing major client projects and the company's proactive business structure optimization, yet 967 million Yuan in outstanding orders provide future operational assurance - Q1 revenue decline was primarily due to: - National macroeconomic policy adjustments on real estate, leading major clients to slow down new project commencements - The company's proactive optimization of business structure, adjusting clients and markets, resulting in short-term revenue fluctuations[20] - As of the end of the reporting period, the company's outstanding orders for various products amounted to approximately 967 million Yuan[22] Investor Relations Activities During the reporting period, the company hosted two institutional on-site surveys, focusing on key areas such as major client relationships, cash flow, R&D center status, goodwill, innovation strategy, technology reserves, and operating performance - On January 7 and February 25, 2021, the company hosted on-site surveys from multiple institutional investors, including Shenwan Hongyuan, Haichuanghui Holdings, and China Jinmao[27] - Survey focus areas primarily included the company's cooperation with major clients, cash flow, R&D investment, strategic planning, and operating performance[27] Financial Statements This section contains the complete set of unaudited consolidated and parent company financial statements for the reporting period Financial Statements This section presents the company's unaudited detailed financial statements for Q1 2021, including consolidated and parent company balance sheets, income statements, and cash flow statements Consolidated Balance Sheet Company Balance Sheet Consolidated Income Statement Company Income Statement Consolidated Cash Flow Statement Company Cash Flow Statement Audit Report The company's Q1 2021 financial report remains unaudited - The company's first quarter report is unaudited[52]