盛德鑫泰(300881) - 2021 Q3 - 季度财报

Key Financial Data This section outlines Shengdexintai New Material Co., Ltd.'s Q3 2021 and year-to-date financial performance, key accounting data, non-recurring items, and major financial statement changes Key Accounting Data and Financial Indicators The company's Q3 operating revenue increased by 41.18% year-on-year, but net profit attributable to shareholders decreased by 24.64%; year-to-date, operating revenue grew by 28.73%, net profit declined by 13.22%, and net cash flow from operating activities significantly increased by 137.80% Key Accounting Data and Financial Indicators (Q3 2021 and Year-to-Date) | Indicator | Current Period (RMB) | YoY Change in Current Period | Year-to-Date (RMB) | YoY Change Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 319,738,522.78 | 41.18% | 816,679,490.94 | 28.73% | | Net Profit Attributable to Shareholders | 11,058,323.04 | -24.64% | 32,197,809.24 | -13.22% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 9,729,277.45 | -33.66% | 27,905,568.85 | -24.95% | | Net Cash Flow from Operating Activities | —— | —— | 54,983,093.86 | 137.80% | | Basic Earnings Per Share (RMB/share) | 0.11 | -38.89% | 0.32 | -33.33% | | Diluted Earnings Per Share (RMB/share) | 0.11 | -38.89% | 0.32 | -33.33% | | Weighted Average Return on Net Assets | 1.27% | -1.63% | 3.71% | -5.01% | | Balance Sheet Indicators | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End | | | Total Assets | 1,316,376,744.07 | 1,152,776,183.01 | 14.19% | | | Owners' Equity Attributable to Shareholders | 755,881,049.05 | 736,818,313.21 | 2.59% | | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses were RMB 1,329,045.58, and RMB 4,292,240.39 year-to-date, primarily from government grants and fair value changes in financial assets Non-Recurring Gains and Losses Items and Amounts (Unit: RMB) | Item | Amount for Current Period | Amount Year-to-Date | Explanation | | :--- | :--- | :--- | :--- | | Government Grants Included in Current Profit/Loss | 600,000.00 | 3,900,000.00 | | | Fair Value Change Gains/Losses and Investment Income | 1,259,465.40 | 1,436,022.65 | | | Other Non-Operating Income and Expenses | -250,000.00 | -240,394.70 | | | Less: Income Tax Impact | 280,419.82 | 803,387.56 | | | Total | 1,329,045.58 | 4,292,240.39 | -- | Changes and Reasons for Key Accounting Data and Financial Indicators This section details the reasons for significant changes in the company's balance sheet, income statement, and cash flow statement items, reflecting impacts from rising raw material prices, fundraising project construction, increased R&D investment, and cash flow management adjustments Significant Changes and Reasons for Balance Sheet Items As of September 30, 2021, inventory significantly increased by 46.88% due to raw material price hikes, while construction in progress and prepaid engineering costs rose by 364.93% and 32184.81% respectively due to fundraising project construction; notes and accounts payable also increased significantly due to higher raw material purchases Significant Balance Sheet Item Changes (September 30, 2021 vs December 31, 2020) | Item | September 30, 2021 (RMB) | December 31, 2020 (RMB) | Change from Prior Year-End (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Receivables Financing | 45,540,622.72 | 73,360,377.34 | -37.92% | Due to decrease in bank acceptance bills received from customers | | Other Receivables | 3,644,554.92 | 2,597,049.37 | 40.33% | Due to temporary payment of work injury compensation not yet received | | Inventory | 235,426,926.73 | 160,289,795.56 | 46.88% | Due to significant increase in raw material prices | | Construction in Progress | 16,405,040.03 | 3,528,479.90 | 364.93% | Due to fundraising projects still under construction | | Other Non-Current Assets | 16,142,404.00 | 50,000.00 | 32184.81% | Due to prepaid engineering costs | | Notes Payable | 358,984,413.71 | 224,584,373.14 | 59.84% | Due to increased raw material purchases settled by notes | | Accounts Payable | 75,092,713.94 | 51,878,898.45 | 44.75% | Due to increased material purchases on credit | | Contract Liabilities | 3,024,118.91 | 5,139,490.37 | -41.16% | Due to decrease in advance receipts | | Taxes Payable | 6,305,748.65 | 2,236,233.45 | 181.98% | Due to estimated income tax not fully deducted this period | | Other Payables | 8,181.09 | 731,303.88 | -98.88% | Due to partial payment of outstanding debts | | Other Current Liabilities | 393,135.46 | 668,133.74 | -41.16% | Due to decrease in advance receipts | Significant Changes and Reasons for Income Statement Items Year-to-date, operating costs increased by 34.41% due to higher sales, and R&D expenses surged by 83.12% reflecting increased investment; selling expenses significantly decreased by 81.52% as freight costs were reclassified to operating costs, while other income grew by 255.49% due to increased government grants Significant Income Statement Item Changes (September 30, 2021 vs September 30, 2020) | Item | September 30, 2021 (RMB) | September 30, 2020 (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Costs | 717,975,996.95 | 534,187,022.48 | 34.41% | Due to increased sales compared to the same period last year | | Selling Expenses | 2,525,386.08 | 13,666,850.51 | -81.52% | Due to freight costs being reclassified into operating costs | | Administrative Expenses | 20,314,239.11 | 14,342,331.20 | 41.64% | Due to increased amortization of intangible assets and cessation of social security contribution reductions | | R&D Expenses | 30,968,011.21 | 16,911,379.76 | 83.12% | Due to increased R&D investment | | Interest Income | 2,140,608.21 | 1,254,895.50 | 70.58% | Due to increased interest income from bank acceptance bill deposits | | Other Income | 3,919,605.31 | 1,102,590.20 | 255.49% | Due to increased government grant projects | | Credit Impairment Losses | -2,656,467.11 | -1,230,364.50 | 115.91% | Due to extended accounts receivable payment terms | | Non-Operating Expenses | 260,000.01 | 1,011,718.85 | -74.30% | Due to decreased donations this period | Significant Changes and Reasons for Cash Flow Statement Items Year-to-date, net cash flow from operating activities significantly increased by 137.8% year-on-year, mainly due to slightly slower accounts receivable collection this period but higher payments for goods last period; net cash flow from financing activities decreased by 113.11% year-on-year, primarily due to increased public investment last period and reduced bank borrowings this period Significant Cash Flow Statement Item Changes (September 30, 2021 vs September 30, 2020) | Item | September 30, 2021 (RMB) | September 30, 2020 (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,983,093.86 | -145,469,773.77 | 137.8% | Due to slightly slower accounts receivable collection this period, while more payments for goods were made last period | | Net Cash Flow from Financing Activities | -45,762,877.73 | 348,946,406.45 | -113.11% | Due to increased public investment last period and reduced bank borrowings this period | Shareholder Information This section discloses the total number of common shareholders, top ten shareholders' holdings and their affiliations, and information on some shareholders' participation in margin trading and securities lending as of the end of the reporting period Total Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 11,957 common shareholders; the top two shareholders, Zhou Wenqing and Zong Huanqin, are a married couple holding 43.50% and 20.25% of shares respectively, with multiple layers of affiliation - The total number of common shareholders at the end of the reporting period was 11,957, with no preferred shareholders whose voting rights have been restored[11] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Zhou Wenqing | Domestic Natural Person | 43.50% | 43,500,000 | 43,500,000 | | Zong Huanqin | Domestic Natural Person | 20.25% | 20,250,000 | 20,250,000 | | Changzhou Lianhong Enterprise Management Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 7.85% | 7,850,000 | 7,850,000 | | Changzhou Xintai Enterprise Management Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.90% | 1,900,000 | 1,900,000 | | Shenzhen Nantong Bo Electronic Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.50% | 1,500,000 | 1,500,000 | - Zhou Wenqing and Zong Huanqin are a married couple, directly holding 43.50% and 20.25% of the company's shares respectively, serving as the actual controllers. The company's employee shareholding platforms, Changzhou Lianhong Enterprise Management Center (Limited Partnership) and Changzhou Xintai Enterprise Management Center (Limited Partnership), are also among the top ten shareholders and have affiliations with major shareholders[12] - Some of the top 10 unrestricted shareholders hold shares through both ordinary securities accounts and credit trading guarantee securities accounts, participating in margin trading and securities lending businesses[12] Preferred Shareholder Information The company has no preferred shareholders - The company has no preferred shareholders[13] Restricted Share Changes There were no changes in the company's restricted shares during the reporting period - There were no changes in the company's restricted shares[13] Other Significant Matters The company had no other significant matters requiring disclosure during the reporting period - The company had no other significant matters requiring disclosure[13] Quarterly Financial Statements This section provides Shengdexintai New Material Co., Ltd.'s consolidated balance sheet as of September 30, 2021, consolidated income statement and cash flow statement from year-beginning to end of reporting period, along with explanations of financial statement adjustments and audit status Financial Statements This section includes the company's unaudited consolidated balance sheet, income statement, and cash flow statement, comprehensively presenting the financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet As of September 30, 2021, total assets reached RMB 1,316,376,744.07, a 14.19% increase from the prior year-end; total current liabilities were RMB 560,495,695.02, up 34.75% from the prior year-end, primarily due to increased notes and accounts payable Consolidated Balance Sheet Key Data (Unit: RMB) | Item | September 30, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 270,648,557.75 | 262,344,277.97 | Increase | | Financial Assets Held for Trading | 150,000,000.00 | 150,950,833.34 | Decrease | | Accounts Receivable | 330,662,398.18 | 279,808,332.67 | Increase | | Inventory | 235,426,926.73 | 160,289,795.56 | Increase | | Construction in Progress | 16,405,040.03 | 3,528,479.90 | Increase | | Other Non-Current Assets | 16,142,404.00 | 50,000.00 | Significant Increase | | Total Current Assets | 1,129,963,781.37 | 1,020,865,302.09 | Increase | | Total Non-Current Assets | 186,412,962.70 | 131,910,880.92 | Increase | | Total Assets | 1,316,376,744.07 | 1,152,776,183.01 | Increase | | Short-term Borrowings | 107,460,000.00 | 121,000,000.00 | Decrease | | Notes Payable | 358,984,413.71 | 224,584,373.14 | Increase | | Accounts Payable | 75,092,713.94 | 51,878,898.45 | Increase | | Taxes Payable | 6,305,748.65 | 2,236,233.45 | Increase | | Total Current Liabilities | 560,495,695.02 | 415,957,869.80 | Increase | | Total Liabilities | 560,495,695.02 | 415,957,869.80 | Increase | | Total Equity Attributable to Parent Company Owners | 755,881,049.05 | 736,818,313.21 | Increase | | Total Liabilities and Equity | 1,316,376,744.07 | 1,152,776,183.01 | Increase | Consolidated Income Statement from Year-Beginning to End of Reporting Period Year-to-date, total operating revenue was RMB 816,679,490.94, a 28.73% year-on-year increase; net profit was RMB 32,197,809.24, a 13.22% year-on-year decrease, mainly due to increased operating costs, administrative and R&D expenses, and expanded credit impairment losses Consolidated Income Statement Key Data (Year-to-Date, Unit: RMB) | Item | Amount for Current Period | Amount for Prior Period | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 816,679,490.94 | 634,420,919.07 | Increase | | Total Operating Costs | 780,633,230.00 | 588,637,789.74 | Increase | | Operating Costs | 717,975,996.95 | 534,187,022.48 | Increase | | Selling Expenses | 2,525,386.08 | 13,666,850.51 | Decrease | | Administrative Expenses | 20,314,239.11 | 14,342,331.20 | Increase | | R&D Expenses | 30,968,011.21 | 16,911,379.76 | Increase | | Financial Expenses | 6,386,571.96 | 6,496,572.93 | Decrease | | Other Income | 3,919,605.31 | 1,102,590.20 | Increase | | Investment Income | 1,436,022.65 | 0.00 | Increase | | Credit Impairment Losses | -2,656,467.11 | -1,230,364.50 | Loss Expanded | | Operating Profit | 38,745,421.79 | 46,516,126.07 | Decrease | | Total Profit | 38,485,421.78 | 45,504,407.22 | Decrease | | Income Tax Expense | 6,287,612.54 | 8,400,656.41 | Decrease | | Net Profit | 32,197,809.24 | 37,103,750.81 | Decrease | | Net Profit Attributable to Parent Company Owners | 32,197,809.24 | 37,103,750.81 | Decrease | | Basic Earnings Per Share | 0.32 | 0.48 | Decrease | Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period Year-to-date, net cash flow from operating activities turned positive to RMB 54,983,093.86; net cash flow from investing activities was -RMB 111,594,418.95, indicating increased outflow; net cash flow from financing activities significantly decreased to -RMB 45,762,877.73 compared to the prior period, mainly due to higher investment absorption last period and reduced bank borrowings this period Consolidated Cash Flow Statement Key Data (Year-to-Date, Unit: RMB) | Item | Amount for Current Period | Amount for Prior Period | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 54,983,093.86 | -145,469,773.77 | Turned from negative to positive, significant increase | | Net Cash Flow from Investing Activities | -111,594,418.95 | -94,480,396.20 | Outflow increased | | Net Cash Flow from Financing Activities | -45,762,877.73 | 348,946,406.45 | Significant decrease | | Net Increase in Cash and Cash Equivalents | -102,386,119.05 | 108,799,339.73 | Turned from positive to negative, significant decrease | | Cash and Cash Equivalents at End of Period | 60,729,000.90 | 166,003,523.48 | Decrease | Explanation of Financial Statement Adjustments The company adopted new leasing standards for the first time in 2021 but did not adjust relevant financial statement items at the beginning of the adoption year, nor did it retrospectively adjust prior comparative data - The company adopted new leasing standards for the first time in 2021 but did not adjust relevant financial statement items at the beginning of the adoption year, nor did it retrospectively adjust prior comparative data[26] Audit Report This quarterly report is unaudited - The company's third-quarter report is unaudited[26]