超捷股份(301005) - 2023 Q1 - 季度财报

Important Notice The board, supervisors, and senior management assure the accuracy and completeness of the quarterly report, with financial information also guaranteed by key executives, and the report remains unaudited - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and assume individual and joint legal liabilities[3] - The company's responsible person, the head of accounting work, and the head of the accounting department declare and guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The first quarter report is unaudited[4] Key Financial Data Key Accounting Data and Financial Indicators The company's Q1 2023 operating revenue and net profit both significantly declined, with net profit attributable to shareholders decreasing by 55.72% year-on-year and basic earnings per share falling by 75.86%, while total assets slightly decreased and equity attributable to shareholders slightly increased Key Accounting Data and Financial Indicators for Q1 2023 | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 85,115,986.90 | 103,286,546.66 | -17.59% | | Net Profit Attributable to Shareholders of the Listed Company | 7,223,637.53 | 16,313,580.08 | -55.72% | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-recurring Gains and Losses | 5,789,449.87 | 15,587,558.29 | -62.86% | | Net Cash Flow from Operating Activities | 9,060,876.60 | 10,663,337.04 | -15.03% | | Basic Earnings Per Share (RMB/share) | 0.07 | 0.29 | -75.86% | | Diluted Earnings Per Share (RMB/share) | 0.07 | 0.29 | -75.86% | | Weighted Average Return on Net Assets | 0.89% | 2.09% | -1.20% | | Period-End Indicators | Current Period-End (RMB) | Prior Year-End (RMB) | Change from Prior Year-End | | Total Assets | 1,117,283,636.50 | 1,135,091,521.09 | -1.57% | | Owners' Equity Attributable to Shareholders of the Listed Company | 818,349,375.59 | 811,125,738.06 | 0.89% | Non-recurring Gains and Losses Items and Amounts The company's total non-recurring gains and losses for the current period amounted to RMB 1,434,187.66, primarily from gains/losses on entrusted investments, fair value changes, and government subsidies Non-recurring Gains and Losses Items and Amounts for Q1 2023 | Item | Current Period Amount (RMB) | | :--- | :--- | | Government subsidies included in current profit and loss | 71,500.00 | | Gains and losses from entrusted investments or asset management | 521,788.21 | | Gains and losses from fair value changes, and investment income from disposal of financial assets held for trading | 1,204,517.87 | | Other non-operating income and expenses apart from the above | -315,491.45 | | Other profit and loss items conforming to the definition of non-recurring gains and losses | 50,003.91 | | Less: Income tax impact | 84,917.43 | | Impact on minority interests (after tax) | 13,213.45 | | Total | 1,434,187.66 | Analysis of Changes in Key Accounting Data and Financial Indicators Multiple items across the company's balance sheet, income statement, and cash flow statement experienced significant changes this period, with notable increases in receivables financing, prepayments, other non-current assets, and short-term borrowings, while operating and net profits declined sharply due to increased selling, administrative, R&D, and financial expenses, and cash flow from investing activities saw a substantial net outflow, offset by a significant net inflow from financing activities Balance Sheet Item Changes Changes and Reasons for Key Balance Sheet Items | Item | Period-End Amount (RMB) | Prior Year-End Amount (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Receivables Financing | 10,009,038.99 | 7,355,599.19 | 36.07% | Primarily due to an increase in bank acceptance bills this period | | Prepayments | 6,375,440.55 | 3,861,870.02 | 65.09% | Primarily due to an increase in prepaid goods this period | | Other Non-current Assets | 36,384,425.73 | 23,191,342.25 | 56.89% | Primarily due to an increase in project payments this period | | Short-term Borrowings | 75,052,004.17 | 55,046,228.10 | 36.34% | Primarily due to new borrowings this period | | Contract Liabilities | 1,558,469.68 | 556,465.90 | 180.07% | Primarily due to an increase in advance receipts this period | | Taxes Payable | 2,160,344.02 | 5,536,091.52 | -60.98% | Primarily due to a decrease in operating revenue this period | | Other Current Liabilities | 265,276.10 | 2,594,449.83 | -89.78% | Primarily due to a decrease in advance receipts for goods this period | | Long-term Payables | 174,317.65 | 617,136.00 | -71.75% | Primarily due to reclassification of long-term payables due within one year this period | Income Statement Item Changes Changes and Reasons for Key Income Statement Items | Item | Current Period (RMB) | Prior Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 3,794,744.66 | 2,155,103.72 | 76.08% | Primarily due to an increase in sales personnel this period | | Administrative Expenses | 8,668,742.21 | 5,561,185.99 | 55.88% | Primarily due to an increase in administrative personnel this period | | Research and Development Expenses | 7,787,605.76 | 4,349,931.45 | 79.03% | Primarily due to an increase in R&D projects this period | | Financial Expenses | 772,622.90 | 192,596.88 | 301.16% | Primarily due to an increase in bank borrowings this period | | Other Income | 121,503.91 | 41,742.42 | 191.08% | Primarily due to an increase in social security stability subsidies this period | | Investment Income | 745,917.14 | 1,125,561.44 | -33.73% | Primarily due to a decrease in wealth management products this period | | Gains from Fair Value Changes | 1,204,997.32 | 195,818.15 | 515.37% | Primarily due to an increase in fair value this period | | Credit Impairment Losses | 2,667,767.72 | -196,120.79 | 1,460.27% | Primarily due to a decrease in receivables balance this period | | Operating Profit | 7,405,583.45 | 18,438,841.57 | -59.84% | Primarily due to a decrease in operating revenue this period | | Total Profit | 7,090,092.00 | 18,628,841.57 | -61.94% | Primarily due to a decrease in operating revenue this period | | Net Profit | 5,703,625.87 | 16,313,580.08 | -65.04% | Primarily due to a decrease in operating revenue this period | | Net Profit Attributable to Owners of the Parent Company | 7,223,637.53 | 16,313,580.08 | -55.72% | Primarily due to a decrease in operating revenue this period | Cash Flow Statement Item Changes Changes and Reasons for Key Cash Flow Statement Items | Item | Current Period (RMB) | Prior Period (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Investing Activities | -30,766,300.97 | -1,315,787.26 | -2,238.24% | Primarily due to increased expenditures on fixed asset construction this period | | Net Cash Flow from Financing Activities | 18,396,706.94 | -48,175.00 | 38,287.25% | Primarily due to increased borrowings this period | | Net Increase in Cash and Cash Equivalents | -3,452,372.01 | 9,103,697.82 | -137.92% | Primarily due to net cash flow from investing activities this period | Shareholder Information Common Shareholder Holdings As of the end of the reporting period, the company had 6,246 common shareholders, with Shanghai Yining Investment Co., Ltd. holding 47.45% of shares, all of which are restricted, while Shanghai Xianghe Yongyuan Equity Investment Partnership (Limited Partnership) held the largest stake among the top ten unrestricted shareholders - The total number of common shareholders at the end of the reporting period was 6,246[14] Top 10 Shareholder Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (Shares) | Number of Restricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | | Shanghai Yining Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 47.45% | 49,426,297.00 | 49,426,297.00 | | Shanghai Xianghe Yongyuan Equity Investment Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 3.78% | 3,938,410.00 | 0.00 | | Shanghai Yuwei Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 3.77% | 3,926,160.00 | 3,926,160.00 | | Zhejiang Qianlv Private Fund Management Co., Ltd. - Bingye Yichou Private Securities Investment Fund | Other | 2.94% | 3,060,694.00 | 0.00 | | Guangdong Yuejun Private Securities Investment Fund Management Co., Ltd. - Yuejun Elite Growth Private Securities Investment Fund | Other | 2.44% | 2,539,500.00 | 0.00 | | Song Yibo | Domestic Natural Person | 2.37% | 2,470,518.00 | 2,470,518.00 | | Hangzhou Jianlong Private Fund Management Co., Ltd. - Jianlong Panshi No. 6 Private Securities Investment Fund | Other | 1.94% | 2,019,584.00 | 0.00 | | Zhou Jiale | Domestic Natural Person | 1.66% | 1,732,020.00 | 1,397,120.00 | | Zhejiang Huihong Investment Management Co., Ltd. - Huihong New Energy Value Private Securities Investment Fund | Other | 1.60% | 1,671,600.00 | 0.00 | | Hangzhou Yunjin Private Fund Co., Ltd. - Yunjin Jiusan Private Securities Investment Fund | Other | 1.38% | 1,440,420.00 | 0.00 | - Some of the top 10 unrestricted circulating shareholders collectively held company shares through ordinary securities accounts and client credit trading guarantee securities accounts[15] Preferred Shareholder Holdings The company had no preferred shareholders during the current reporting period - The company has no preferred shareholders[16] Changes in Restricted Shares During the reporting period, the company's total restricted shares remained unchanged at 59,830,295 shares at period-end, with major restricted shareholders including Shanghai Yining Investment Co., Ltd., Shanghai Yuwei Investment Co., Ltd., Song Yibo, and Zhou Jiale, whose shares are pre-IPO restricted and are expected to be released on June 1, 2024 Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (Shares) | Shares Released from Restriction This Period (Shares) | Shares Added to Restriction This Period (Shares) | Restricted Shares at End of Period (Shares) | Reason for Restriction | Proposed Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Yining Investment Co., Ltd. | 49,426,297.00 | 0.00 | 0.00 | 49,426,297.00 | Pre-IPO Restricted Shares | June 1, 2024 | | Shanghai Yuwei Investment Co., Ltd. | 3,926,160.00 | 0.00 | 0.00 | 3,926,160.00 | Pre-IPO Restricted Shares | June 1, 2024 | | Song Yibo | 2,470,518.00 | 0.00 | 0.00 | 2,470,518.00 | Pre-IPO Restricted Shares | June 1, 2024 | | Zhou Jiale | 1,397,120.00 | 0.00 | 0.00 | 1,397,120.00 | Pre-IPO Restricted Shares | June 1, 2024 | | Shanghai Wenchao Investment Co., Ltd. | 1,275,300.00 | 0.00 | 0.00 | 1,275,300.00 | Pre-IPO Restricted Shares | June 1, 2024 | | Other Restricted Shareholders | 1,334,900.00 | 0.00 | 0.00 | 1,334,900.00 | Equity Incentive Restricted Shares | Unlocked according to the "2022 Restricted Stock Incentive Plan (Draft)" | | Total | 59,830,295.00 | 0.00 | 0.00 | 59,830,295.00 | | | Other Important Matters The company reported no other significant matters during the current reporting period - The company had no other significant matters during the current reporting period[19] Quarterly Financial Statements Consolidated Balance Sheet As of March 31, 2023, the company's total assets were RMB 1,117,283,636.50, a slight decrease from the beginning of the year, with reductions in cash, financial assets held for trading, notes and accounts receivable, but an increase in inventory, while non-current assets saw growth in fixed assets and other non-current assets but a decrease in construction in progress, and liabilities increased for short-term borrowings and contract liabilities but decreased for accounts payable, taxes payable, and other current liabilities Key Data from Consolidated Balance Sheet as of March 31, 2023 | Item | Period-End Balance (RMB) | Year-Beginning Balance (RMB) | | :--- | :--- | :--- | | Assets | | | | Cash and Bank Balances | 53,382,650.27 | 56,835,021.34 | | Financial Assets Held for Trading | 191,317,445.24 | 202,922,265.56 | | Notes Receivable | 11,004,988.24 | 15,541,332.94 | | Accounts Receivable | 136,771,365.25 | 177,783,525.10 | | Inventories | 171,327,096.74 | 155,992,805.95 | | Total Current Assets | 622,557,200.17 | 663,057,240.61 | | Fixed Assets | 298,284,638.81 | 281,855,995.10 | | Construction in Progress | 33,903,899.64 | 40,244,222.39 | | Other Non-current Assets | 36,384,425.73 | 23,191,342.25 | | Total Non-current Assets | 494,726,436.33 | 472,034,280.48 | | Total Assets | 1,117,283,636.50 | 1,135,091,521.09 | | Liabilities | | | | Short-term Borrowings | 75,052,004.17 | 55,046,228.10 | | Accounts Payable | 108,813,936.09 | 143,565,831.62 | | Contract Liabilities | 1,558,469.68 | 556,465.90 | | Taxes Payable | 2,160,344.02 | 5,536,091.52 | | Total Current Liabilities | 221,667,977.04 | 244,121,226.59 | | Total Liabilities | 243,671,229.62 | 267,182,740.08 | | Owners' Equity | | | | Total Owners' Equity Attributable to Parent Company | 818,349,375.59 | 811,125,738.06 | | Minority Interests | 55,263,031.29 | 56,783,042.95 | | Total Owners' Equity | 873,612,406.88 | 867,908,781.01 | | Total Liabilities and Owners' Equity | 1,117,283,636.50 | 1,135,091,521.09 | Consolidated Income Statement In Q1 2023, the company's total operating revenue decreased by 17.59% year-on-year to RMB 85,115,986.90, with total operating costs slightly down, but selling, administrative, R&D, and financial expenses all significantly increased, leading to a 59.84% decline in operating profit and a 65.04% decline in net profit year-on-year, and net profit attributable to parent company owners was RMB 7,223,637.53, a 55.72% decrease year-on-year Key Data from Consolidated Income Statement for Q1 2023 | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 85,115,986.90 | 103,286,546.66 | | Total Operating Costs | 81,991,597.70 | 84,017,407.28 | | Selling Expenses | 3,794,744.66 | 2,155,103.72 | | Administrative Expenses | 8,668,742.21 | 5,561,185.99 | | Research and Development Expenses | 7,787,605.76 | 4,349,931.45 | | Financial Expenses | 772,622.90 | 192,596.88 | | Other Income | 121,503.91 | 41,742.42 | | Investment Income | 745,917.14 | 1,125,561.44 | | Gains from Fair Value Changes | 1,204,997.32 | 195,818.15 | | Credit Impairment Losses | 2,667,767.72 | -196,120.79 | | Operating Profit | 7,405,583.45 | 18,438,841.57 | | Total Profit | 7,090,092.00 | 18,628,841.57 | | Income Tax Expense | 1,386,466.13 | 2,315,261.49 | | Net Profit | 5,703,625.87 | 16,313,580.08 | | Net Profit Attributable to Owners of the Parent Company | 7,223,637.53 | 16,313,580.08 | | Basic Earnings Per Share | 0.07 | 0.29 | | Diluted Earnings Per Share | 0.07 | 0.29 | Consolidated Cash Flow Statement In Q1 2023, net cash flow from operating activities was RMB 9,060,876.60, a 15.03% year-on-year decrease, while net cash flow from investing activities significantly worsened to -RMB 30,766,300.97 due to increased expenditures on fixed asset construction, and net cash flow from financing activities turned positive to RMB 18,396,706.94 from a negative figure in the prior year, primarily due to increased borrowings Key Data from Consolidated Cash Flow Statement for Q1 2023 | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 9,060,876.60 | 10,663,337.04 | | Net Cash Flow from Investing Activities | -30,766,300.97 | -1,315,787.26 | | Net Cash Flow from Financing Activities | 18,396,706.94 | -48,175.00 | | Net Increase in Cash and Cash Equivalents | -3,452,372.01 | 9,103,697.82 | | Cash and Cash Equivalents at End of Period | 53,381,139.83 | 53,593,830.83 | Audit Report The company's first quarter report was unaudited - The company's first quarter report was unaudited[29]