晨曦航空(300581) - 2021 Q1 - 季度财报

Important Notice The company's board, supervisory board, and senior management affirm the truthfulness, accuracy, and completeness of this quarterly report - The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, pledging no false records, misleading statements, or major omissions[5] - All directors attended the board meeting to review this quarterly report[6] - Company head Wu Jian, chief accountant Liu Rong, and head of accounting department Fan Yarchen jointly declare the financial statements in the quarterly report are true, accurate, and complete[6] Company Overview This section provides an overview of the company's key financial performance, shareholder structure, and changes in restricted shares Key Accounting Data and Financial Indicators In Q1 2021, the company significantly improved performance with a 131.25% revenue increase and a return to profitability, achieving RMB 1,557,636.32 in net profit attributable to shareholders Key Financial Indicators for Q1 2021 | Indicator | Current Reporting Period | Prior Year Period | Year-on-year change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 52,423,007.15 | 22,669,131.94 | 131.25% | | Net Profit Attributable to Shareholders of the Listed Company (RMB) | 1,557,636.32 | -9,318,581.98 | 116.72% | | Net Profit Attributable to Shareholders Excluding Non-recurring Items (RMB) | -1,773,118.72 | -9,507,928.84 | 81.35% | | Net Cash Flow from Operating Activities (RMB) | 23,082,876.62 | -2,191,773.13 | 1,153.16% | | Basic Earnings Per Share (RMB/share) | 0.0091 | -0.0543 | 116.72% | | Weighted Average Return on Net Assets | 0.22% | -1.42% | Increased by 1.64 percentage points | | Total Assets (RMB) | 850,135,755.95 | 892,782,510.95 | -4.78% (Compared to end of previous year) | | Net Assets Attributable to Shareholders of the Listed Company (RMB) | 718,655,514.21 | 716,506,985.71 | 0.30% (Compared to end of previous year) | - During the reporting period, government grants recognized in current profit and loss amounted to RMB 3,916,400, serving as the primary source of non-recurring gains and positively impacting net profit[10] Shareholder Information As of the reporting period end, the company had 31,588 common shareholders, with the top two being Xi'an Huiju Technology and Beijing Aerospace Star Control, both controlled by Wu Jian - As of the end of the reporting period, the company had 31,588 common shareholders[11] Shareholding of Top Two Shareholders | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Xi'an Huiju Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 43.57% | 74,837,299 | | Beijing Aerospace Star Control Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 18.69% | 32,110,000 | - The top two shareholders, Huiju Technology and Aerospace Star Control, are related parties, both controlled by the company's actual controller, Wu Jian[12] Changes in Restricted Shares No changes occurred in the company's restricted shares during the reporting period - The company had no changes in restricted shares during this reporting period[13] Significant Events This section details significant financial data changes, business performance, progress on key capital market activities, and the use of raised funds Analysis of Significant Changes in Key Financial Data During the reporting period, revenue surged by 131.25% due to increased order deliveries, while a 1743.17% rise in government grants drove operating profit and net profit to turn positive Changes in Key Balance Sheet Items | Item | Change Rate (vs. beginning of year) | Primary Reason | | :--- | :--- | :--- | | Notes Receivable | 139.50% | Increase in commercial acceptance bills received | | Prepayments | 51.23% | Increase in prepayments for procurement and outsourced R&D | | Contract Liabilities | -59.98% | Decrease in prepayments due to revenue recognition from R&D project acceptance | | Employee Compensation Payable | -54.84% | Issuance of 2020 annual bonuses | | Taxes Payable | -76.86% | Difference in year-end tax payable base due to higher revenue at end of previous year | Changes in Key Income Statement Items | Item | Change Rate (Year-on-year) | Primary Reason | | :--- | :--- | :--- | | Total Operating Revenue | 131.25% | Increase in orders delivered and accepted during the reporting period | | Other Income | 1,743.17% | Significant year-on-year increase in government grants received | | Operating Profit | 115.68% | Significant growth in revenue and other income | | Net Profit | 116.72% | Same reason as operating profit change | Changes in Key Cash Flow Statement Items | Item | Change Rate (Year-on-year) | Primary Reason | | :--- | :--- | :--- | | Cash received from sales of goods and rendering of services | 101.74% | Increase in customer collections | | Net Cash Flow from Operating Activities | 1,153.16% | Significant increase in sales collections and government grants, with inflow growth far exceeding outflow growth | | Cash paid for acquisition of fixed assets and other long-term assets | 229.90% | Significant increase in investment for fixed asset purchases | Business Review and Outlook The company's Q1 2021 performance growth was driven by increased product order deliveries post-pandemic and a significant 1,743.17% rise in government grants - The company's Q1 2021 performance growth was primarily due to: 1) Elimination of pandemic impact and increased product order deliveries; 2) A significant 1,743.17% year-on-year increase in government grants received[18] Top Five Suppliers | Rank | Supplier Name | Amount (RMB) | Percentage of Total Purchases | | :--- | :--- | :--- | :--- | | 1 | Beijing Feieruichi Technology Co., Ltd. | 2,070,495.04 | 16.45% | | 2 | Xi'an Beidouxing Inertial Technology Co., Ltd. | 1,903,539.70 | 15.13% | | 3 | AVIC Jonhon Optronic Technology Co., Ltd. | 1,494,249.58 | 11.87% | | 4 | Huaguan Technology Co., Ltd. | 900,000.00 | 7.15% | | 5 | Xi'an Xinmeng Electronics Co., Ltd. | 574,472.25 | 4.57% | | Total | | 6,942,756.57 | 55.17% | Top Five Customers | Rank | Customer Name | Amount (RMB) | Percentage of Operating Revenue | | :--- | :--- | :--- | :--- | | 1 | Customer M | 23,056,716.09 | 43.98% | | 2 | Enterprise N | 9,026,548.68 | 17.22% | | 3 | Enterprise Z | 8,663,716.82 | 16.53% | | 4 | Customer E | 5,238,938.03 | 9.99% | | 5 | Customer B | 2,369,557.52 | 4.52% | | Total | | 48,355,477.14 | 92.24% | Progress of Significant Matters The company is advancing a private share placement, with its application accepted by SZSE, and its controlling shareholders plan to reduce their stake by up to 3% of total share capital - The company's application for a private share placement has been accepted by the Shenzhen Stock Exchange, and a response to the audit inquiry letter was submitted on January 15, 2021[23][24] - The company's controlling shareholder Huiju Technology and its concerted party Aerospace Star Control disclosed a share reduction plan on February 23, 2021, intending to collectively reduce their holdings by no more than 3.00% of the company's total share capital between March 17, 2021, and June 15, 2021; no shares have been reduced as of the report date[25] Use of Raised Funds The company has fully invested its IPO raised funds into the Aviation Airborne Equipment Product Production Line and R&D Center projects, with remaining funds permanently supplementing working capital Overview of Raised Funds Utilization | Item | Amount (RMB million) | | :--- | :--- | | Total Raised Funds | 246.4104 | | Total Raised Funds Invested in Current Quarter | 0 | | Total Raised Funds Cumulatively Invested | 172.2750 | - Both the Aviation Airborne Equipment Product Production Line Project and the R&D Center Project reached their intended usable state on December 31, 2020[29] - The company permanently supplemented working capital with the remaining RMB 14.1363 million (including interest) from its IPO raised funds account and has closed the relevant special accounts[31] Financial Statements This section presents the company's consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements Financial Statements This section provides the company's detailed consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2021 - This section includes the consolidated and parent company balance sheets as of March 31, 2021[37][42] - This section includes the consolidated and parent company income statements for Q1 2021[46][50] - This section includes the consolidated and parent company cash flow statements for Q1 2021[53][57] Notes on Financial Statement Adjustments Effective January 1, 2021, the company adopted new lease accounting standards, leading to retrospective adjustments to the parent company's balance sheet for right-of-use assets and lease liabilities - The company adopted the newly revised Accounting Standard for Business Enterprises No. 21 – Leases effective January 1, 2021[65] Parent Company Balance Sheet Initial Adjustment | Adjusted Item | Adjustment Amount (RMB) | | :--- | :--- | | Asset Increase: | | | Right-of-use assets | +4,015,926.95 | | Liability Increase: | | | Non-current liabilities due within one year | +1,177,630.56 | | Lease liabilities | +2,838,296.39 | - The initial adoption of the new lease standard had no adjustment impact on the consolidated balance sheet's opening balances[63] Audit Report The company's 2021 first-quarter report is unaudited - This company's first-quarter report is unaudited[66]