中熔电气(301031) - 2023 Q1 - 季度财报

Key Financial Data This section provides an overview of the company's financial performance and position for the reporting period Key Accounting Data and Financial Indicators In Q1 2023, the company's operating revenue increased by 58.68% year-over-year to RMB 231.71 million, while net profit attributable to shareholders decreased by 2.12% to RMB 32.54 million, primarily due to cost and expense growth exceeding revenue growth, with net cash outflow from operating activities increasing by 45.44% to RMB 16.13 million Key Accounting Data and Financial Indicators (RMB) | Indicator | Current Period | Prior Period | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 231,713,359.74 | 146,029,074.29 | 58.68% | | Net Profit Attributable to Shareholders (RMB) | 32,538,675.69 | 33,242,358.55 | -2.12% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (RMB) | 31,994,132.20 | 31,451,376.41 | 1.73% | | Net Cash Flow from Operating Activities (RMB) | -16,132,490.70 | -11,092,450.57 | -45.44% | | Basic Earnings Per Share (RMB/share) | 0.4909 | 0.5016 | -2.13% | | Total Assets (RMB) | 1,405,215,240.72 | 1,365,288,887.28 (Year-end) | 2.92% | | Total Equity Attributable to Shareholders (RMB) | 869,915,719.93 | 837,377,044.24 (Year-end) | 3.89% | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to RMB 0.54 million, primarily comprising government grants, entrusted investment income, and fair value changes of financial assets Non-Recurring Gains and Losses Items and Amounts (RMB) | Item | Current Period Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -65,737.86 | | Government Grants Recognized in Current Profit/Loss | 258,131.32 | | Gains/Losses from Entrusted Investments or Asset Management | 294,274.01 | | Gains/Losses from Fair Value Changes of Financial Assets/Liabilities Held for Trading | 153,746.58 | | Other Non-Operating Income and Expenses | 225.35 | | Less: Income Tax Impact | 96,095.91 | | Total | 544,543.49 | Analysis of Key Financial Indicator Changes The company experienced significant changes in several financial indicators during the period, with substantial increases in construction in progress and long-term borrowings for project investments, while revenue growth was offset by surging sales, administrative, and R&D expenses, including RMB 18.81 million in share-based payment expenses, leading to expanded operating cash outflows - The company implemented an equity incentive plan, recognizing RMB 18.81 million in share-based payment expenses during the period, which significantly contributed to the substantial increase in administrative and R&D expenses[10][11] - Sales expenses increased by 165.59% year-over-year, primarily due to an increase in sales personnel and their compensation, along with increased investment in overseas market promotion[10] - R&D expenses increased by 217.82% year-over-year, mainly due to increased new product, process, and equipment development activities, leading to corresponding increases in salaries, testing fees, and material consumption[10] - Construction in progress and long-term borrowings increased by 30.05% and 58.48% respectively, indicating the company is in a phase of capacity expansion and project construction[9] - Operating cash outflow increased by 104.93% year-over-year, primarily due to increased payments for goods and employee wages driven by rapid business growth[12] Shareholder Information This section details the company's shareholder structure and significant shareholdings Shareholding Status of Shareholders As of the end of the reporting period, the company had 7,205 common shareholders, with Fang Guangwen, Liu Bing, Wang Guifei, and Wang Wei acting in concert, holding a significant combined stake, and Fang Guangwen being the largest shareholder with 13.50% - As of the end of the reporting period, the company had 7,205 common shareholders[14] Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Type | Shareholding Percentage (%) | Number of Shares Held | | :--- | :--- | :--- | :--- | | Fang Guangwen | Domestic Individual | 13.50% | 8,949,000.00 | | Shi Xiaoguang | Domestic Individual | 6.67% | 4,418,407.00 | | Xi'an Zhongyu Enterprise Management Consulting Partnership | Domestic Non-State-Owned Legal Entity | 5.91% | 3,914,000.00 | | Liu Bing | Domestic Individual | 5.58% | 3,695,241.00 | | Wang Guifei | Domestic Individual | 4.79% | 3,176,213.00 | - Shareholder association explanation: Fang Guangwen, Liu Bing, Wang Guifei, and Wang Wei are parties acting in concert. Fang Guangwen is the executive partner of Zhongyu Partnership and Zhongying Partnership, while Liu Bing is a limited partner in both partnerships[15] Other Significant Matters This section addresses any other material events or disclosures not covered elsewhere Other Significant Matters The company had no other significant matters requiring disclosure during the current reporting period - The company had no other significant matters during the current reporting period[16] Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the quarter Consolidated Balance Sheet As of March 31, 2023, the company's total assets were RMB 1.41 billion, total liabilities RMB 0.54 billion, and total equity attributable to parent company shareholders RMB 0.87 billion, reflecting a high proportion of current assets and significant fixed assets and construction in progress Consolidated Balance Sheet (RMB) | Item | Period-end Balance (RMB) | Beginning of Year Balance (RMB) | Change from Beginning of Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,405,215,240.72 | 1,365,288,887.28 | 2.92% | | Total Liabilities | 535,299,520.79 | 527,911,843.04 | 1.40% | | Total Equity Attributable to Parent Company Shareholders | 869,915,719.93 | 837,377,044.24 | 3.89% | Consolidated Income Statement In Q1 2023, the company achieved RMB 231.71 million in operating revenue, a 58.68% year-over-year increase, but operating profit declined by 10.19% and net profit attributable to the parent company slightly decreased by 2.12% to RMB 32.54 million due to substantial increases in operating costs and various expenses Consolidated Income Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 231,713,359.74 | 146,029,074.29 | 58.68% | | Total Operating Costs | 198,375,463.59 | 107,790,948.91 | 84.04% | | Operating Profit | 34,535,733.63 | 38,453,737.68 | -10.19% | | Total Profit | 34,748,203.22 | 38,469,845.99 | -9.67% | | Net Profit | 32,538,675.69 | 33,242,358.55 | -2.12% | Consolidated Cash Flow Statement During the period, net cash outflow from operating activities expanded to RMB 16.13 million due to increased payments for goods, employee compensation, and taxes, while investing activities generated RMB 19.44 million in net cash inflow from investment recovery, and financing activities generated RMB 34.91 million from new bank borrowings, with cash and cash equivalents totaling RMB 133 million at period-end Consolidated Cash Flow Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,132,490.70 | -11,092,450.57 | | Net Cash Flow from Investing Activities | 19,436,787.26 | 53,522,203.33 | | Net Cash Flow from Financing Activities | 34,911,306.24 | 0.00 | | Net Increase in Cash and Cash Equivalents | 36,772,461.53 | 42,319,635.81 | Audit Report This section provides information regarding the audit status of the financial report Audit Opinion The company's first-quarter 2023 financial report was unaudited - The company's first-quarter report was unaudited[26]