鸿铭股份(301105) - 2023 Q1 - 季度财报

Report Overview Overall Performance The company experienced a significant decline in Q1 2023 performance, with operating revenue down 38.58% and net profit attributable to shareholders dropping 92.92%, despite improved operating cash flow | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 44,642,193.72 | 72,689,229.80 | -38.58% | | Net Profit Attributable to Shareholders (RMB) | 1,338,169.45 | 18,904,357.56 | -92.92% | | Net Cash Flow from Operating Activities (RMB) | -7,330,020.16 | -16,871,945.75 | 56.55% | - Performance decline primarily attributed to reduced end-customer demand due to macroeconomic downturn, leading to decreased sales as downstream clients slowed fixed asset investments[8] - A significant reduction in government subsidies received this period also contributed to the performance decline[8] Key Financial Data Key Accounting Data and Financial Indicators The company's core financial indicators universally declined in Q1 2023, with operating revenue down 38.58%, net profit attributable to parent down 92.92%, and basic EPS dropping 94.68% | Indicator | Current Period | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 44,642,193.72 | 72,689,229.80 | -38.58% | | Net Profit Attributable to Parent (RMB) | 1,338,169.45 | 18,904,357.56 | -92.92% | | Non-recurring Net Profit Attributable to Parent (RMB) | 1,190,890.71 | 14,076,366.88 | -91.54% | | Basic EPS (RMB/share) | 0.0268 | 0.5041 | -94.68% | | Weighted Average ROE | 0.15% | 4.11% | -3.96pp | Non-recurring Gains and Losses and Amounts The company's total non-recurring gains and losses for the period amounted to RMB 147,278.74, primarily from government subsidies, providing a small positive contribution to net profit | Item | Amount for Current Period (RMB) | | :--- | :--- | | Government subsidies recognized in current profit/loss | 217,603.80 | | Net non-operating income and expenses | -27,140.55 | | Less: Income tax impact | 43,184.51 | | Total | 147,278.74 | Analysis of Changes in Key Financial Indicators and Reasons Multiple financial indicators fluctuated significantly, with revenue and profit declining due to market conditions, financial expenses decreasing sharply, and changes in asset-liability and cash flow items reflecting business and debt management activities - Key reasons for changes in income statement items: - Operating Revenue (-38.58%): Due to overall economic downturn, downstream customers slowed fixed asset investments, leading to a decline in company sales[8] - Net Profit (-92.92%): Primarily due to decreased revenue and a significant reduction in government subsidies[8] - Financial Expenses (-352.24%): Mainly due to exchange rate fluctuations and increased interest income from idle fund management[8] - Other Income (-95.29%): Primarily due to reduced government subsidies[8] - Key reasons for changes in balance sheet items: - Prepayments (+141.05%): Increase in prepayments for purchases to suppliers[8] - Short-term Borrowings (-61.02%): Due to repayment of short-term borrowings[8] - Contract Liabilities (+75.44%): Increase in customer prepayments received[8] - Key reasons for changes in cash flow statement items: - Net Cash Flow from Operating Activities (+56.55%): Decrease in cash outflow for goods purchased[8] - Net Cash Flow from Investing Activities (-58.14%): Increase in cash outflow for purchasing wealth management products and constructing long-term assets[8] - Net Cash Flow from Financing Activities (-263.27%): Due to repayment of bank loans[8] Shareholder Information Common Shareholder Holdings As of the reporting period end, the company had 12,020 common shareholders, with the top two, Jin Jian and Cai Tiehui, holding over 60% and acting as controlling shareholders, while the top ten shareholders collectively held 75.54% of shares - As of the end of the reporting period, the total number of common shareholders was 12,020[10] | Shareholder Name | Shareholding Percentage (%) | Number of Shares Held (shares) | Nature of Shares | | :--- | :--- | :--- | :--- | | Jin Jian | 34.88% | 17,437,500 | Domestic Natural Person | | Cai Tiehui | 25.50% | 12,750,002 | Domestic Natural Person | | Yuan Xiaoqiang | 4.52% | 2,259,999 | Domestic Natural Person | | Ningbo Hanhe Qisong Equity Investment Partnership (Limited Partnership) | 3.38% | 1,687,503 | Domestic Non-State-Owned Legal Person | | Shenzhen Yutong Packaging Technology Co., Ltd. | 3.37% | 1,687,498 | Domestic Non-State-Owned Legal Person | - Jin Jian and Cai Tiehui are the company's controlling shareholders, actual controllers, and concerted action parties[10] - Additionally, Jin Jian, Cai Tiehui, Ningbo Hanhe Qisong Equity Investment Partnership (Limited Partnership), and Ningbo Haode Qisong Equity Investment Partnership (Limited Partnership) are concerted action parties[10] Quarterly Financial Statements Consolidated Balance Sheet As of March 31, 2023, total assets were RMB 1.03 billion (-3.42% YoY), total liabilities RMB 115 million (-24.93% YoY) due to debt repayment, and equity attributable to parent RMB 918 million (+0.16% YoY) | Key Item | Period-end Balance (RMB) | Year-start Balance (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,032,576,167.84 | 1,069,160,111.87 | -3.42% | | Total Current Assets | 759,410,955.40 | 797,962,355.95 | -4.83% | | Total Non-current Assets | 273,165,212.44 | 271,197,755.92 | +0.73% | | Total Liabilities | 114,567,855.79 | 152,615,500.34 | -24.93% | | Total Current Liabilities | 86,821,669.75 | 124,928,184.52 | -30.51% | | Total Owners' Equity | 918,008,312.05 | 916,544,611.53 | +0.16% | Consolidated Income Statement In Q1 2023, the company's operating revenue decreased by 38.58% to RMB 44.64 million, leading to a 92.97% drop in operating profit and a 92.92% reduction in net profit | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 44,642,193.72 | 72,689,229.80 | -38.58% | | Total Operating Costs | 43,263,688.28 | 56,985,859.95 | -24.08% | | Operating Profit | 1,533,059.80 | 21,812,118.86 | -92.97% | | Total Profit | 1,505,919.25 | 21,895,440.45 | -93.12% | | Net Profit | 1,338,169.45 | 18,904,357.56 | -92.92% | | Basic EPS | 0.0268 | 0.5041 | -94.68% | Consolidated Cash Flow Statement Net cash flow from operating activities improved to RMB -7.33 million, while investing and financing activities resulted in net outflows of RMB 23.85 million and RMB 24.30 million respectively, leading to a period-end cash balance of RMB 405 million | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -7,330,020.16 | -16,871,945.75 | Improved 56.55% | | Net Cash Flow from Investing Activities | -23,852,047.76 | -15,083,192.34 | Outflow increased 58.14% | | Net Cash Flow from Financing Activities | -24,298,543.40 | 14,882,452.66 | From inflow to outflow | | Net Increase in Cash and Cash Equivalents | -55,653,706.62 | -17,454,990.94 | Net outflow increased | | Period-end Cash and Cash Equivalents Balance | 404,802,163.17 | 112,357,602.87 | YoY increased 260.28% |