长盛轴承(300718) - 2022 Q1 - 季度财报

Important Notice This section presents the company's declaration on the truthfulness, accuracy, and completeness of the quarterly report Declaration of Report Authenticity The board, supervisory board, and senior management guarantee the report's accuracy, and key financial officers affirm the financial statements - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming individual and joint legal responsibility[3] - Company's responsible person Sun Zhihua, head of accounting work He Yin, and head of accounting department Qiu Wanhong declare the financial statements in the quarterly report are true, accurate, and complete[4] Company Profile This section provides an overview of the company's key financial data, performance indicators, and shareholder information Key Accounting Data and Financial Indicators Q1 2022 revenue grew 17.38%, but net profit to shareholders fell 26.55%, with operating cash flow down 363.71% Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the period were CNY 6.08 million, primarily from government grants and financial asset fair value changes Non-recurring Gains and Losses Items for Q1 2022 | Item | Current Period Amount (CNY) | | :--- | :--- | | Disposal gains and losses of non-current assets | 55,387.53 | | Government grants included in current profit and loss | 2,891,374.06 | | Fair value change gains and losses and disposal investment income of transactional financial assets | 4,238,538.66 | | Other non-operating income and expenses apart from the above | -42,378.08 | | Less: Income tax impact | 1,080,407.86 | | Minority interest impact (after tax) | -15,216.91 | | Total | 6,077,731.22 | Changes and Reasons for Key Accounting Data and Financial Indicators Monetary funds decreased 33.53% due to wealth management purchases, while prepayments increased 194.07% for materials - Monetary funds decreased by 33.53%, primarily due to the company's purchase of wealth management products[12] - Prepayments increased by 194.07%, mainly due to increased prepayments for materials as a result of good sales performance[12] - Right-of-use assets increased by 1255.84% and lease liabilities increased by 100%, primarily due to the new subsidiary Zhejiang Jisheng New Material Co., Ltd. recognizing factory lease right-of-use and lease liabilities[12] - Research and development expenses increased by 34.70%, mainly due to the company's increased R&D efforts during the period[12] - Other income increased by 604.33%, primarily due to an increase in government grants received by the company during the period[12] - Investment income decreased by 43.44%, mainly due to relatively lower wealth management income during the period[12] Key Accounting Data and Financial Indicators for Q1 2022 | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 260,302,520.09 | 221,755,284.70 | 17.38% | | Net Profit Attributable to Shareholders of Listed Company | 30,252,433.75 | 41,189,291.43 | -26.55% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 24,174,702.53 | 31,064,116.72 | -22.18% | | Net Cash Flow from Operating Activities | -57,839,221.04 | -12,473,124.78 | -363.71% | | Basic Earnings Per Share (CNY/share) | 0.10 | 0.14 | -28.57% | | Diluted Earnings Per Share (CNY/share) | 0.10 | 0.13 | -23.08% | | Weighted Average Return on Net Assets | 2.21% | 3.14% | -0.93% | Balance Sheet Indicators as of Q1 2022 | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,709,302,519.25 | 1,648,039,299.53 | 3.72% | | Owners' Equity Attributable to Shareholders of Listed Company | 1,388,368,997.91 | 1,355,807,324.33 | 2.40% | Shareholder Information The company had 10,679 common shareholders, with key shareholders forming a concerted action group - The total number of common shareholders at the end of the reporting period was 10,679[14] - Sun Zhihua and Sun Weiqing are father and daughter, Sun Zhihua is Chu Chenjian's father-in-law, and Sun Zhihua is the actual controller of Jiashan Baisheng Investment Management Partnership (Limited Partnership); Sun Zhihua's concerted parties are Sun Weiqing, Chu Chenjian, and Jiashan Baisheng Investment Management Partnership (Limited Partnership)[16] Common Shareholders and Top Ten Shareholders' Shareholding The company had 10,679 common shareholders; Sun Zhihua, the largest shareholder at 34.05%, forms a concerted action group Top 10 Shareholders' Shareholding (Partial) | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (Shares) | Number of Restricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | | Sun Zhihua | Domestic Natural Person | 34.05% | 101,210,781 | 75,908,086 | | Sun Weiqing | Domestic Natural Person | 14.99% | 44,550,000 | 0 | | Chu Chenjian | Domestic Natural Person | 5.00% | 14,850,000 | 11,137,500 | | Lu Xiaolin | Domestic Natural Person | 4.50% | 13,365,000 | 10,023,750 | | Cao Yinchao | Domestic Natural Person | 3.00% | 8,910,000 | 6,682,500 | | Wang Weijie | Domestic Natural Person | 2.15% | 6,382,500 | 4,786,875 | | Jiashan Baisheng Investment Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 2.02% | 6,014,250 | 0 | | Lu Zhongquan | Domestic Natural Person | 1.69% | 5,021,475 | 3,766,106 | | Zhou Jinxiang | Domestic Natural Person | 1.51% | 4,501,889 | 0 | | Bank of China Co., Ltd. - Fuguo Dividend Mixed Securities Investment Fund | Domestic Non-state-owned Legal Person | 0.99% | 2,950,000 | 0 | - Sun Zhihua, Sun Weiqing, Chu Chenjian, and Jiashan Baisheng Investment Management Partnership (Limited Partnership) are concerted parties[16] Preferred Shareholders Information The company had no preferred shareholders during the reporting period - The company had no preferred shareholders during the reporting period[17] Changes in Restricted Shares Restricted shares decreased from 128.92 million to 115.04 million, mainly due to release for directors, supervisors, and senior management Overview of Changes in Restricted Shares | Indicator | Restricted Shares at Period Start (Shares) | Restricted Shares Released This Period (Shares) | Restricted Shares at Period End (Shares) | | :--- | :--- | :--- | :--- | | Total | 128,920,390 | 13,883,643 | 115,036,747 | - Sun Zhihua's restricted shares released this period amounted to 12,395,249 shares, primarily due to recalculation of locked shares at the beginning of the reporting period[17] - Directors, supervisors, and senior management are expected to release 25% of their company shares annually[17][19] Other Important Matters This section confirms that there are no other significant matters requiring disclosure for the reporting period No Important Matters to Disclose The company has no other important matters to disclose for the current reporting period - The company has no other important matters for this reporting period[20] Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for Q1, including balance sheet, income statement, and cash flow statement Financial Statements This section includes the consolidated balance sheet, income statement, and cash flow statement for Q1 2022, detailing assets, liabilities, equity, and cash flows Consolidated Balance Sheet As of March 31, 2022, total assets were CNY 1.71 billion, up 3.72%, with significant changes in right-of-use assets and lease liabilities Key Items from Consolidated Balance Sheet (March 31, 2022) | Item | Period-End Balance (CNY) | Year-Start Balance (CNY) | | :--- | :--- | :--- | | Monetary Funds | 84,774,192.73 | 127,537,451.93 | | Transactional Financial Assets | 486,026,907.31 | 478,096,593.48 | | Inventories | 232,928,710.20 | 181,676,982.98 | | Total Current Assets | 1,092,732,068.37 | 1,056,307,856.46 | | Fixed Assets | 470,972,976.42 | 463,236,074.79 | | Right-of-Use Assets | 14,744,616.34 | 1,087,486.08 | | Total Assets | 1,709,302,519.25 | 1,648,039,299.53 | | Short-term Borrowings | 23,000,000.00 | 18,022,366.67 | | Contract Liabilities | 4,635,605.86 | 3,084,615.91 | | Total Current Liabilities | 172,481,566.52 | 194,235,387.50 | | Lease Liabilities | 8,770,399.82 | 0.00 | | Total Liabilities | 225,881,801.20 | 237,168,546.21 | | Total Owners' Equity Attributable to Parent Company | 1,388,368,997.91 | 1,355,807,324.33 | Consolidated Income Statement Total operating revenue reached CNY 260.30 million, up 17.38%, while net profit to parent shareholders decreased 26.87% to CNY 30.25 million Key Items from Consolidated Income Statement (Jan-Mar 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 260,302,520.09 | 221,755,284.70 | | Total Operating Costs | 231,848,523.29 | 185,768,004.06 | | Research and Development Expenses | 11,137,431.06 | 8,268,262.45 | | Other Income | 2,891,374.06 | 410,516.77 | | Investment Income (Losses indicated by "-") | 4,217,513.49 | 7,456,634.06 | | Operating Profit | 35,582,894.39 | 48,495,435.55 | | Net Profit | 30,240,724.90 | 41,342,510.20 | | Net Profit Attributable to Parent Company Owners | 30,252,433.75 | 41,189,291.43 | | Basic Earnings Per Share (CNY/share) | 0.10 | 0.14 | Consolidated Cash Flow Statement Operating cash flow was -CNY 57.84 million, a 363.71% decrease, while financing cash flow significantly increased from subsidiary investments and borrowings Key Items from Consolidated Cash Flow Statement (Jan-Mar 2022) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -57,839,221.04 | -12,473,124.78 | | Net Cash Flow from Investing Activities | -29,670,927.38 | 36,355,917.30 | | Net Cash Flow from Financing Activities | 47,500,692.10 | 16,256,251.23 | | Net Increase in Cash and Cash Equivalents | -42,213,449.40 | 36,552,617.10 | | Cash and Cash Equivalents at Period End | 82,426,408.40 | 97,748,441.28 | - Net cash flow from operating activities significantly decreased by 363.71%, primarily due to increased cash paid for goods and services[7][31] - Net cash flow from financing activities significantly increased, mainly due to the subsidiary's absorption of minority shareholder investments of CNY 40,000,000.00 and new borrowings of CNY 23,000,000.00[32] Audit Report The company's first-quarter report for 2022 is unaudited - The company's first-quarter report is unaudited[33]