龙利得(300883) - 2021 Q3 - 季度财报

Key Financial Data The company experienced modest revenue growth but faced significant pressure on profitability and cash flow during the first three quarters of 2021 Key Accounting Data and Financial Indicators The company's Q3 2021 revenue grew slightly, but profitability declined, with year-to-date net profit falling 16.21% due to rising costs Key Financial Indicators for Q3 2021 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change | Year-to-Date (YTD) | YTD YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 185,637,818.84 | 6.34% | 531,655,545.54 | 3.64% | | Net Profit Attributable to Shareholders (Yuan) | 11,570,050.54 | -22.02% | 38,779,102.98 | -16.21% | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) (Yuan) | 10,968,107.01 | -4.91% | 32,183,776.35 | -19.26% | | Net Cash Flow from Operating Activities (Yuan) | - | - | -16,433,433.12 | -172.32% | | Basic Earnings Per Share (Yuan/Share) | 0.0334 | -41.61% | 0.1121 | -37.13% | | Weighted Average Return on Equity | 0.84% | -0.67% | 2.80% | -1.99% | Key Balance Sheet Indicators at the End of the Reporting Period | Indicator | End of Current Period | End of Prior Year | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 1,872,610,586.14 | 1,775,053,582.60 | 5.50% | | Equity Attributable to Shareholders (Yuan) | 1,403,230,381.33 | 1,367,911,278.35 | 2.58% | Non-recurring Profit and Loss Items and Amounts Year-to-date non-recurring profit and loss totaled ¥6.60 million, primarily driven by government subsidies of ¥8.47 million Non-recurring P&L Items for the Year-to-Date Period | Item | YTD Amount (Yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -280,986.67 | | Government Subsidies Included in Current P&L | 8,470,323.66 | | Other Non-operating Income/Expenses and Fair Value Changes | -288,626.49 | | Less: Income Tax Impact | 1,305,383.87 | | Total | 6,595,326.63 | Changes in Key Financial Indicators and Reasons Net cash flow from operating activities dropped 172.32% due to increased procurement payments, while EPS fell over 37% from lower profits and share dilution - Net cash flow from operating activities decreased by 172.32% YoY, shifting from a net inflow of ¥22.72 million to a net outflow of ¥16.43 million, mainly due to increased payments for raw materials amid rising prices and tight supply[8] - Basic and diluted earnings per share decreased by 37.13% YTD and 41.61% in Q3, primarily due to lower profits from rising raw material costs and an increased share count following the IPO[8][9] Shareholder Information The company's shareholder base includes 25,429 holders with a relatively concentrated ownership structure, and a significant portion of pre-IPO restricted shares were released during the period Shareholder Holdings As of the period end, the company had 25,429 common shareholders, with a concentrated ownership structure among the top ten holders - The total number of common shareholders was 25,429 at the end of the reporting period[11] Top Ten Shareholders | Shareholder Name | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | | Zhang Yunxue | 12.39% | 42,875,000 | | Shanghai Long'erli Investment Development Co., Ltd. | 12.14% | 42,000,000 | | Chuzhou Junyuan Venture Capital Center (Limited Partnership) | 10.18% | 35,222,100 | | Xu Longping | 5.91% | 20,433,900 | | Shanghai Jinpu National Restructuring M&A Equity Investment Fund Partnership | 5.85% | 20,250,000 | - Shareholders Xu Longping and Zhang Yunxue have signed a Concerted Action Agreement, and Shanghai Long'erli Investment Development Co., Ltd. is controlled by Xu Longping[12] Changes in Restricted Shares Approximately 150 million pre-IPO restricted shares were released during the period, reducing the total number of restricted shares from 259.5 million to 109.3 million Overview of Changes in Restricted Shares | Item | Number of Shares (shares) | | :--- | :--- | | Restricted Shares at Beginning of Period | 259,500,000 | | Shares Released from Restriction This Period | 150,165,850 | | Restricted Shares Added This Period | 0 | | Restricted Shares at End of Period | 109,334,150 | - The shares released from restriction this period were primarily pre-IPO shares, with a scheduled release date of September 13, 2021[14][15] Other Important Matters The company advanced capital raising and business expansion initiatives, including a convertible bond issuance plan and the establishment of a new subsidiary - The company's proposal for a public issuance of convertible corporate bonds was approved by the Board of Directors and the shareholders' meeting in August and September 2021, respectively[16] - A new holding subsidiary established in Xinxiang, Henan, completed its business registration in September 2021[16] Quarterly Financial Statements The financial statements show a 5.5% increase in total assets driven by construction in progress, while profitability was eroded by rising costs, and cash flow was strained by operating and investment activities Consolidated Balance Sheet As of September 30, 2021, total assets grew 5.50% to ¥1.87 billion, driven by a significant increase in construction in progress, while total liabilities also rose Key Balance Sheet Items (Unit: Yuan) | Item | September 30, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,872,610,586.14 | 1,775,053,582.60 | +5.50% | | Prepayments | 103,954,504.26 | 72,641,721.77 | +43.11% | | Inventories | 347,436,851.15 | 264,164,564.13 | +31.52% | | Construction in Progress | 192,893,753.92 | 26,603,313.54 | +625.07% | | Total Liabilities | 469,380,204.81 | 407,142,304.25 | +15.29% | | Short-term Borrowings | 323,013,610.70 | 269,300,950.01 | +19.95% | | Long-term Borrowings | 46,122,777.04 | 0.00 | - | | Total Equity Attributable to Parent Company | 1,403,230,381.33 | 1,367,911,278.35 | +2.58% | Consolidated Income Statement (Year-to-Date) For the first three quarters of 2021, revenue grew 3.64% to ¥532 million, but net profit fell 16.21% as cost of sales outpaced revenue growth Key Income Statement Items (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 531,655,545.54 | 512,967,459.44 | +3.64% | | Cost of Sales | 426,616,991.44 | 379,704,716.32 | +12.35% | | R&D Expenses | 26,262,978.08 | 24,311,232.19 | +8.03% | | Total Profit | 41,417,877.15 | 51,649,464.73 | -19.81% | | Net Profit | 38,779,102.98 | 46,278,854.18 | -16.21% | | Basic Earnings Per Share | 0.1121 | 0.1783 | -37.13% | Consolidated Cash Flow Statement (Year-to-Date) The company faced significant cash flow pressure in the first three quarters of 2021, with operating activities turning to a net outflow and investment outflows increasing sharply Key Cash Flow Statement Items (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,433,433.12 | 22,723,135.89 | | Net Cash Flow from Investing Activities | -97,641,119.00 | -13,999,746.09 | | Net Cash Flow from Financing Activities | 87,228,542.09 | 455,966,462.59 | | Net Increase in Cash and Cash Equivalents | -26,811,958.50 | 464,643,070.01 | - Cash outflow from investing activities was primarily driven by ¥183 million paid for fixed assets and other long-term assets and ¥36 million for the acquisition of a subsidiary[27] - Cash inflow from financing activities mainly came from ¥329 million in new borrowings, while outflows were primarily for the repayment of ¥229 million in debt[27]