屹通新材(300930) - 2023 Q3 - 季度财报

Major Financial Data In the first three quarters of 2023, operating revenue slightly increased, but net profit attributable to shareholders and non-recurring net profit significantly declined, with operating cash flow turning negative due to increased investments and raw material purchases Key Financial Indicators for the First Three Quarters of 2023 | Indicator | Year-to-Date | Year-to-Date Change from Prior Period | | :--- | :--- | :--- | | Operating Revenue (RMB) | 301,097,587.96 | 2.92% | | Net Profit Attributable to Shareholders (RMB) | 43,308,346.07 | -38.56% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains and Losses (RMB) | 41,729,785.24 | -25.91% | | Net Cash Flow from Operating Activities (RMB) | -32,735,349.78 | -132.16% | | Basic Earnings Per Share (RMB/share) | 0.4331 | -38.56% | | Weighted Average Return on Net Assets | 5.30% | -4.11% | | Total Assets (RMB) | 934,776,004.08 | 10.39% (Compared to End of Prior Year) | | Total Equity Attributable to Shareholders (RMB) | 833,275,561.25 | 4.16% (Compared to End of Prior Year) | - The company recognized RMB 1,578,560.83 in year-to-date gains and losses as non-recurring, primarily comprising government subsidies and tax refunds[7] Analysis of Major Financial Data Changes The company's financial position significantly changed during the period, marked by reduced monetary funds and increased assets like inventory and fixed assets due to expansionary investments, while net profit declined despite slight revenue growth, and operating cash flow turned negative Major Balance Sheet Item Changes and Reasons | Account | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Monetary Funds | -73.47% | Primarily due to increased payments for project investments and raw material purchases in the current period | | Inventory | 130.66% | Primarily due to increased raw materials in the current period | | Fixed Assets | 93.01% | Primarily due to the transfer of some construction in progress to fixed assets in the current period | | Construction in Progress | 51.32% | Primarily due to increased project investments in the current period | | Accounts Payable | 116.73% | Primarily due to increased payments owed to suppliers and for engineering projects in the current period | | Deferred Income | 226.51% | Primarily due to a larger amount of asset-related government subsidies received in the current period | Major Income Statement Item Changes and Reasons (Year-to-Date) | Account | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Administrative Expenses | 42.45% | Primarily due to increased employee benefits, depreciation, and business entertainment expenses in the current period | | Financial Expenses | -325.80% | Primarily due to increased bank interest income in the current period | | Other Income | -80.78% | Primarily due to decreased government subsidies received in the current period | | Investment Income | -89.15% | Primarily due to investment income from idle funds in the prior year | Major Cash Flow Statement Item Changes and Reasons (Year-to-Date) | Account | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -132.16% | Primarily due to a larger amount of matured acceptance bills collected in the prior period and increased cash payments for goods and services in the current period | | Net Cash Flow from Investing Activities | -245.87% | Primarily due to significant fixed asset investments in the current period and the recovery of wealth management funds in the prior period | Shareholder Information As of the reporting period end, the company had 6,621 common shareholders, with a highly concentrated equity structure where the top two shareholders, brothers Wang Zhirong and Wang Zhichun, collectively hold over 70% - The total number of common shareholders was 6,621 at the end of the reporting period[13] - The company's controlling shareholder, Mr. Wang Zhirong, and the second largest shareholder, Mr. Wang Zhichun, are brothers, with their combined shareholding reaching 70.5%[13][14] Top Ten Shareholders' Shareholding | Shareholder Name | Shareholder Type | Shareholding Percentage | | :--- | :--- | :--- | | Wang Zhirong | Domestic Individual | 57.28% | | Wang Zhichun | Domestic Individual | 13.22% | | Hangzhou Cizheng Equity Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 4.46% | | Zheng Yan Quan | Domestic Individual | 0.71% | | Xinao New Energy Industry Stock Investment Fund | Other | 0.58% | | Xu Yue | Domestic Individual | 0.57% | | Penghua Growth Value Mixed Securities Investment Fund | Other | 0.32% | | Guojin Quantitative Multi-Factor Stock Investment Fund | Other | 0.32% | | China International Capital Corporation Hong Kong Asset Management Limited－FT | Overseas Legal Person | 0.30% | | Lv Jun | Domestic Individual | 0.25% | Other Significant Matters During the reporting period, the company had no other significant matters requiring disclosure - The company had no other significant matters in this reporting period[15] Quarterly Financial Statements This section presents the company's unaudited consolidated balance sheet, consolidated year-to-date income statement, and cash flow statement for the third quarter of 2023 Consolidated Balance Sheet As of September 30, 2023, total assets reached RMB 934.78 million, increasing by 10.39% from the year's start, while total liabilities significantly grew by 116.82% to RMB 101.50 million, and equity attributable to the parent company increased by 4.16% to RMB 833.28 million Core Balance Sheet Data (September 30, 2023) | Item | Amount (RMB) | Change from Beginning of Year | | :--- | :--- | :--- | | Total Assets | 934,776,004.08 | 10.39% | | Total Liabilities | 101,500,442.83 | 116.82% | | Total Equity Attributable to Parent Company Shareholders | 833,275,561.25 | 4.16% | Consolidated Income Statement (Year-to-Date) From January to September 2023, operating revenue increased by 2.92% to RMB 301.10 million, but operating profit declined by 40.87% to RMB 48.13 million, leading to a 38.56% decrease in net profit attributable to parent company shareholders, reaching RMB 43.31 million Core Income Statement Data (January-September 2023) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 301,097,587.96 | 292,559,778.04 | | Operating Profit | 48,128,803.06 | 81,391,852.82 | | Total Profit | 48,248,553.61 | 81,381,852.82 | | Net Profit | 43,308,346.07 | 70,487,659.16 | Consolidated Cash Flow Statement (Year-to-Date) From January to September 2023, net cash flow from operating activities turned negative to RMB -32.74 million, while investing activities resulted in a RMB -163.13 million net outflow due to significant capital expenditures, and financing activities showed a RMB 10 million net outflow Core Cash Flow Statement Data (January-September 2023) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -32,735,349.78 | 101,779,380.43 | | Net Cash Flow from Investing Activities | -163,133,876.86 | 111,834,697.76 | | Net Cash Flow from Financing Activities | -10,000,000.00 | -10,000,000.00 | | Net Increase in Cash and Cash Equivalents | -205,869,226.64 | 203,614,078.19 | Audit Opinion The company's 2023 third-quarter financial report is unaudited - The company's third-quarter report is unaudited[26]