南极光(300940) - 2021 Q3 - 季度财报

Key Financial Data This section provides an overview of the company's financial performance and position, including key accounting data, non-recurring gains and losses, and an analysis of financial indicator changes Key Accounting Data and Financial Indicators In Q3 2021, the company experienced a year-over-year decline in performance, with revenue down 35.34% and net profit attributable to shareholders down 43.42%, while year-to-date revenue increased by 8.40% but net profit decreased by 40.04%, indicating revenue growth without profit growth, and total assets and shareholder equity significantly increased due to IPO proceeds Key Accounting Data and Financial Indicators | Indicator | Current Period (2021 Q3) | YoY Change | Year-to-Date (2021 Q1-Q3) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 210,726,801.93 | -35.34% | 773,606,077.02 | 8.40% | | Net Profit Attributable to Shareholders (CNY) | 18,013,436.03 | -43.42% | 37,084,991.83 | -40.04% | | Net Cash Flow from Operating Activities (CNY) | - | - | 24,783,928.29 | 213.39% | | Basic Earnings Per Share (CNY/share) | 0.1521 | -57.56% | 0.3316 | -52.38% | | Balance Sheet Indicators | End of Current Period | Change from End of Previous Year | | | | Total Assets (CNY) | 1,458,181,316.58 | 25.54% | | | | Owners' Equity Attributable to Shareholders (CNY) | 856,574,109.11 | 72.55% | | | Non-Recurring Gains and Losses Items and Amounts From the beginning of the year to the end of the reporting period, the company's total non-recurring gains and losses amounted to CNY 10.57 million, primarily from government grants related to the company's listing, totaling CNY 12.23 million Non-Recurring Gains and Losses Items and Amounts | Item | Year-to-Date Amount (CNY) | Explanation | | :--- | :--- | :--- | | Government grants included in current profit/loss | 12,230,100.62 | Primarily related to enterprise listing subsidies | | Gains/losses from disposal of non-current assets | 76,941.47 | | | Gains/losses from transactional financial assets | 246,821.92 | | | Other non-operating income and expenses | -123,641.68 | | | Income tax impact | -1,864,074.91 | | | Total | 10,566,147.42 | -- | Analysis of Changes in Key Accounting Data and Financial Indicators The company explained the changes in key financial indicators, attributing the significant decline in net profit and non-recurring net profit to intensified industry competition leading to lower gross margins, while the substantial improvement in operating cash flow resulted from increased listing subsidies, tax refunds, and input VAT, and the growth in shareholder equity was primarily due to IPO proceeds - Net profit attributable to shareholders and non-recurring net profit同比分别下降40.04% and 53.08% year-over-year respectively, primarily due to intensified industry competition leading to a general decline in gross margins[8] - Net cash flow from operating activities significantly increased by 213.39% year-over-year, mainly due to increased government grants related to enterprise listing, export tax refunds, and increased input VAT from purchasing fixed assets[8] - Owners' equity attributable to shareholders increased by 72.55% at the end of the period compared to the beginning of the year, primarily due to the company receiving initial public offering (IPO) proceeds and accumulated undistributed profits[9] Shareholder Information This section details the company's shareholder structure, including the total number of shareholders, top ten shareholders' holdings, and changes in restricted shares Total Number of Common Shareholders and Preferred Shareholders with Restored Voting Rights and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 16,808 common shareholders, with the top two shareholders, Jiang Faming and Pan Lianxing, each holding 26.46% and collectively controlling the company through a concerted action agreement, and all top ten shareholders holding restricted shares, indicating a concentrated equity structure - As of the end of the reporting period, the company had 16,808 common shareholders[11] - Shareholders Jiang Faming, Pan Lianxing, and two limited partnerships signed a "Concerted Action Agreement," forming a concerted action relationship[12] Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Number of Restricted Shares Held | | :--- | :--- | :--- | :--- | | Jiang Faming | 26.46% | 31,331,000 | 31,331,000 | | Pan Lianxing | 26.46% | 31,331,000 | 31,331,000 | | Shenzhen Nanji Guang Management Consulting Partnership (Limited Partnership) | 2.89% | 3,427,980 | 3,427,980 | | Shenzhen Ausiman Consulting Management Partnership (Limited Partnership) | 2.89% | 3,427,980 | 3,427,980 | | Li Shaoping | 2.51% | 2,975,445 | 2,975,445 | Changes in Restricted Shares During the reporting period, 1,527,896 shares of initial public offering (IPO) offline placement restricted shares were lifted, reducing the total restricted shares to 88,819,269 shares by period-end, with major shareholders' restricted shares expected to be unlocked in batches in 2022 and 2024 - During the current reporting period, 1,527,896 shares of offline placement restricted shares were lifted on August 3, 2021[14] - As of the end of the period, the company's total restricted shares amounted to 88,819,269 shares, primarily held by pre-IPO shareholders, with unlocking dates mainly concentrated on February 3, 2022, and February 3, 2024[14] Other Significant Matters This section covers other important corporate events, specifically the re-election of the Board of Directors and Supervisory Board Board of Directors Re-election The company completed the re-election of its Board of Directors and Supervisory Board on July 8, 2021, and appointed a new term of senior management and securities affairs representatives - The company held a shareholders' meeting on July 8, 2021, electing members for the second Board of Directors and Supervisory Board, and completing the appointment of senior management personnel[16] Quarterly Financial Statements This section presents the company's consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement, along with explanations for any adjustments and the audit status Consolidated Financial Statements As of September 30, 2021, the financial statements show total assets of CNY 1.46 billion and owners' equity attributable to the parent company of CNY 856.57 million, with year-to-date operating revenue of CNY 773.61 million, net profit attributable to the parent company of CNY 37.08 million, and net cash flow from operating activities of CNY 24.78 million Consolidated Balance Sheet As of September 30, 2021, the company's total assets reached CNY 1.46 billion, a 25.54% increase from the beginning of the year, with owners' equity attributable to shareholders at CNY 856.57 million, a significant 72.55% increase primarily due to IPO proceeds, while total liabilities decreased to CNY 601.61 million | Item | September 30, 2021 (CNY) | December 31, 2020 (CNY) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 1,458,181,316.58 | 1,161,530,178.75 | +25.54% | | Total Liabilities | 601,607,207.47 | 665,111,981.50 | -9.55% | | Total Owners' Equity Attributable to Parent Company | 856,574,109.11 | 496,418,197.25 | +72.55% | Consolidated Income Statement (Year-to-Date) For the first three quarters of 2021, the company achieved operating revenue of CNY 773.61 million, an 8.40% year-over-year increase, but due to a faster rise in operating costs and increased expenses, operating profit decreased by 43.76% to CNY 39.12 million, and net profit attributable to the parent company decreased by 40.04% to CNY 37.08 million | Item | Current Period (2021 Q1-Q3) | Prior Period (2020 Q1-Q3) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue (CNY) | 773,606,077.02 | 713,684,270.91 | +8.40% | | Total Operating Costs (CNY) | 745,475,533.69 | 641,787,929.15 | +16.16% | | Operating Profit (CNY) | 39,115,163.73 | 69,557,806.09 | -43.76% | | Net Profit Attributable to Parent Company Owners (CNY) | 37,084,991.83 | 61,851,392.19 | -40.04% | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2021, net cash flow from operating activities turned positive at CNY 24.78 million, a significant year-over-year improvement, while net cash outflow from investing activities was CNY 71.57 million, mainly for fixed asset purchases and investments, and net cash inflow from financing activities was CNY 326.50 million, primarily from IPO proceeds, increasing cash and cash equivalents to CNY 384 million by period-end | Item | Current Period (2021 Q1-Q3) | Prior Period (2020 Q1-Q3) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities (CNY) | 24,783,928.29 | -21,857,426.41 | | Net Cash Flow from Investing Activities (CNY) | -71,572,270.07 | -31,453,450.16 | | Net Cash Flow from Financing Activities (CNY) | 326,496,610.93 | -23,629,183.91 | | Net Increase in Cash and Cash Equivalents (CNY) | 279,842,718.37 | -77,054,566.76 | Explanation of Financial Statement Adjustments Effective January 1, 2021, the company adopted new lease accounting standards, resulting in adjustments to the financial statements at the initial adoption date, primarily recognizing right-of-use assets and lease liabilities, which increased both total assets and total liabilities by CNY 52.33 million - The company adopted new lease accounting standards effective January 1, 2021, and retrospectively adjusted existing operating lease contracts at the initial adoption date[33] Adjustment Items | Adjustment Item | Adjustment Amount (CNY) | | :--- | :--- | | Right-of-use assets | +52,326,904.71 | | Non-current liabilities due within one year | +8,662,053.04 | | Lease liabilities | +43,664,851.67 | Audit Report This quarterly report is unaudited - The company's Q3 2021 report is unaudited[34]