凯龙高科(300912) - 2022 Q1 - 季度财报

Main Financial Data Key Accounting Data and Financial Indicators In Q1 2022, the company's operating revenue decreased by 10.03% and net profit attributable to shareholders declined by 35.63%, with core business profitability significantly deteriorating as net profit after non-recurring items turned to a loss | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 250,822,516.08 | 278,774,965.25 | -10.03% | | Net Profit Attributable to Shareholders (RMB) | 8,775,685.30 | 13,633,552.88 | -35.63% | | Net Profit Attributable to Shareholders After Non-Recurring Items (RMB) | -23,768,294.31 | 12,083,588.14 | -296.70% | | Net Cash Flow from Operating Activities (RMB) | -92,572,312.48 | -47,234,370.41 | -95.99% | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.12 | -33.33% | | Total Assets (RMB) | 1,944,653,737.11 | 1,826,933,270.85 | 6.44% (vs. end of prior year) | | Shareholders' Equity Attributable to Parent (RMB) | 1,074,644,240.18 | 1,065,868,554.89 | 0.82% (vs. end of prior year) | Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses amounted to RMB 32.54 million in the current period, significantly impacting net profit, primarily driven by a RMB 36.14 million one-time compensation for land and building expropriation due to urban redevelopment | Item | Amount in Current Period (RMB) | Description | | :--- | :--- | :--- | | Disposal Gains/Losses on Non-Current Assets | 36,136,541.81 | One-time compensation for land and building expropriation by government due to urban redevelopment project | | Government Grants Recognized in Current P&L | 1,453,006.65 | - | | Fair Value Change Gains/Losses, etc | -3,316,846.92 | - | | Reversal of Impairment Provisions for Receivables Subject to Separate Impairment Test | 4,000,000.00 | - | | Less: Income Tax Impact | 5,743,055.22 | - | | Total | 32,543,979.61 | -- | - After deducting non-recurring gains and losses, the company's net profit was -RMB 23.77 million, indicating that without one-time gains like asset disposal, the core business would have been in a loss-making state this quarter[3][6] Analysis of Changes in Key Financial Indicators During the reporting period, significant changes occurred in financial indicators, with accounts receivable and other receivables increasing due to sales growth and unreceived compensation, while short-term borrowings and notes payable rose to support operations, and operating cash outflow expanded due to poor sales collection Balance Sheet Item Changes | Balance Sheet Item | Change Rate | Reason | | :--- | :--- | :--- | | Accounts Receivable | 54.23% | Due to significant quarter-over-quarter sales growth in Q1 2022 compared to Q4 2021 | | Other Receivables | 280.34% | Due to new RMB 39.88 million in relocation compensation not yet received | | Investment Properties | -100.00% | Disposed due to government urban redevelopment | | Short-term Borrowings | 40.86% | Increased bank loans | | Notes Payable | 35.53% | Increased bank acceptance bill payments | Cash Flow Statement Item Changes | Cash Flow Statement Item | Change Rate | Reason | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -95.99% | Decreased sales collection in the current period due to poor sales in H2 2021 | | Net Cash Flow from Investing Activities | 81.72% | Reduced external investments in the current period | | Net Cash Flow from Financing Activities | 154.05% | Increased bank loans | Shareholder Information Shareholder Structure and Top Ten Shareholders As of the end of the reporting period, the company had 10,515 common shareholders, with a relatively concentrated equity structure where the actual controller Zang Zhicheng and his concerted parties hold a significant combined stake - Total common shareholders at the end of the reporting period were 10,515 households[11] Top Ten Shareholders | Shareholder Name | Shareholding Percentage | Shareholder Nature | | :--- | :--- | :--- | | Zang Zhicheng | 32.18% | Domestic Natural Person | | Wuxi Kaicheng Investment Partnership (Limited Partnership) | 5.81% | Domestic Non-State-Owned Legal Person | | Tianjin Lihechuangying Equity Investment Fund Partnership | 3.20% | Domestic Non-State-Owned Legal Person | | Bank of Communications...HSBC Jinxin Smart Manufacturing Pioneer Stock Fund | 3.15% | Other | | Zang Mengdie | 2.79% | Domestic Natural Person | - Key shareholder relationships include Zang Zhicheng, Zang Mengdie, Zang Xiaomei, and Zang Yufen as concerted parties; Zang Zhicheng is the actual controller of Wuxi Kaicheng Investment Partnership (Limited Partnership); Tianjin Lihechuangying and Changzhou Lihe Huafu are concerted parties[12] Other Significant Matters The company had no other significant matters requiring disclosure during the reporting period - The company had no other applicable or significant matters to explain in this reporting period[13] Quarterly Financial Statements Consolidated Balance Sheet As of March 31, 2022, total assets increased by 6.44% to RMB 1.945 billion and total liabilities rose by 14.31% to RMB 870 million, driven by increases in accounts receivable, construction in progress, short-term borrowings, and notes payable Consolidated Balance Sheet Summary | Item | Period-End Balance (RMB) | Year-Beginning Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 1,944,653,737.11 | 1,826,933,270.85 | | Total Current Assets | 1,029,958,061.67 | 975,091,794.27 | | Total Non-Current Assets | 914,695,675.44 | 851,841,476.58 | | Total Liabilities | 870,009,496.93 | 761,064,715.96 | | Total Current Liabilities | 809,619,935.50 | 700,049,495.88 | | Total Non-Current Liabilities | 60,389,561.43 | 61,015,220.08 | | Total Owners' Equity | 1,074,644,240.18 | 1,065,868,554.89 | Consolidated Income Statement In Q1 2022, operating revenue decreased by 10.03% to RMB 251 million, and despite a RMB 36.14 million asset disposal gain, net profit attributable to the parent company declined by 35.63% to RMB 8.78 million due to lower gross profit from core operations and other losses Consolidated Income Statement Summary | Item | Amount in Current Period (RMB) | Amount in Prior Period (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 250,822,516.08 | 278,774,965.25 | | Total Operating Costs | 270,488,047.77 | 263,534,409.45 | | Including: Operating Costs | 219,733,357.33 | 200,863,350.21 | | Asset Disposal Gains | 36,136,541.81 | -10,466.32 | | Operating Profit | 10,367,056.02 | 16,709,825.44 | | Total Profit | 10,376,620.73 | 16,198,092.77 | | Net Profit | 8,775,685.30 | 13,851,911.11 | | Net Profit Attributable to Owners of the Parent Company | 8,775,685.30 | 13,633,552.88 | Consolidated Cash Flow Statement The company experienced tight cash flow, with net cash outflow from operating activities increasing to RMB 92.57 million, while net cash outflow from investing activities significantly narrowed, and net cash inflow from financing activities turned positive due to new borrowings Consolidated Cash Flow Statement Summary | Item | Amount in Current Period (RMB) | Amount in Prior Period (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -92,572,312.48 | -47,234,370.41 | | Net Cash Flow from Investing Activities | -31,943,213.76 | -174,748,286.28 | | Net Cash Flow from Financing Activities | 78,994,906.65 | -146,153,185.81 | | Net Increase in Cash and Cash Equivalents | -45,520,619.59 | -368,135,420.94 | Audit Report The company's Q1 2022 financial report is unaudited - The company's first quarter report is unaudited[25]