洁雅股份(301108) - 2022 Q3 - 季度财报

Major Financial Data The company reported significant year-on-year declines in revenue and net profit for Q3 and YTD, driven by reduced disinfectant wipe sales, while strong operating cash flow and strategic investments in wealth management products impacted financial metrics Overview of Core Financial Indicators The company experienced significant year-on-year declines in Q3 and YTD operating revenue and net profit, while YTD net cash flow from operating activities increased by 34.63% Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3 2022) | YoY Change (Current Period) | Year-to-Date (YTD) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 166,100,000 | -11.62% | 525,640,000 | -35.46% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | 39,780,000 | -17.10% | 128,930,000 | -30.37% | | Net Cash Flow from Operating Activities (Yuan) | -- | -- | 251,100,000 | 34.63% | | Basic Earnings Per Share (Yuan/share) | 0.49 | -37.97% | 1.59 | -47.70% | | Weighted Average Return on Net Assets (%) | 2.28% | -5.68% | 7.45% | -27.22% | | Balance Sheet (Period End) | End of Current Period | End of Previous Year | Change | | | Total Assets (Yuan) | 2,108,460,000 | 2,052,530,000 | 2.73% | | | Total Equity Attributable to Shareholders of Listed Company (Yuan) | 1,763,710,000 | 1,693,430,000 | 4.15% | | Analysis of Non-Recurring Gains and Losses Year-to-date, total non-recurring gains and losses were 3.35 million Yuan, primarily from government grants, offset by fair value changes and non-operating expenses Non-Recurring Gains and Losses Items Year-to-Date (Unit: Yuan) | Item | Amount Year-to-Date | Description | | :--- | :--- | :--- | | Government Grants Included in Current Profit/Loss | 8,590,000 | Major positive impact | | Gains/Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading | -2,260,000 | Major negative impact | | Other Non-Operating Income and Expenses | -2,240,000 | Major negative impact | | Total | 3,350,000 | -- | Analysis of Changes in Major Financial Indicators and Their Causes Several financial indicators changed significantly due to decreased disinfectant wipe sales, impacting revenue and costs, while increased investment in wealth management products boosted financial assets and investment income, and higher interest and exchange gains reduced financial expenses - Operating revenue decreased by 35.46% year-on-year, primarily due to a significant reduction in sales of disinfectant wipes[10] - Financial expenses decreased significantly by 2489.31% year-on-year, mainly due to increased interest income and exchange gains[10] - Contract liabilities surged by 327.87% year-on-year, primarily due to increased advance payments from customers[10] - The generation and significant increase in investment income and financial assets held for trading were primarily due to the company's use of idle raised funds to purchase wealth management products[10][11] Shareholder Information The company's equity structure is highly concentrated, with the controlling shareholder and spouse holding over 55% of shares among 11,722 common shareholders Common Shareholder Holdings As of the reporting period, the company had 11,722 common shareholders, with a highly concentrated equity structure where the controlling shareholder and spouse hold over 55% - As of the end of the reporting period, the company had 11,722 common shareholders[13] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Cai Yingchuan | Domestic Natural Person | 52.88% | 42,946,052 | | Tongling Mingyuan Venture Capital Management Co., Ltd... | Other | 10.29% | 8,360,000 | | Feng Yan | Domestic Natural Person | 2.66% | 2,164,030 | | Cai Shuguang | Domestic Natural Person | 2.29% | 1,860,746 | | Suzhou Industrial Park Zhongyi Mingyuan Venture Capital... | Other | 1.48% | 1,204,926 | - Controlling shareholder Mr. Cai Yingchuan and his spouse Ms. Feng Yan are parties acting in concert, and Tongling Mingyuan and Suzhou Industrial Park Zhongyi Mingyuan are both ultimately controlled by Yang Xuming[14] Other Significant Matters The company implemented a restricted stock incentive plan for core employees and established a wholly-owned subsidiary to enhance supply chain security and competitiveness 2022 Restricted Stock Incentive Plan In August 2022, the company granted 1.684 million Class II restricted shares to 56 core employees to establish a long-term incentive mechanism - On August 1, 2022, the company initially granted 1.684 million Class II restricted shares to 56 incentive recipients[15] Establishment of Wholly-Owned Subsidiary In September 2022, the company established "Jieya Investment (Tongling) Co., Ltd." with 10 million Yuan of its own funds to enhance supply chain security and competitiveness - The company established a wholly-owned subsidiary, "Jieya Investment (Tongling) Co., Ltd.," with an investment of 10 million Yuan from its own funds[17] - The strategic purpose of establishing this subsidiary is to ensure supply chain security, integrate upstream and downstream resources, and enhance the company's overall competitive strength and profitability[17] Quarterly Financial Statements The company's Q3 2022 financial statements show a slight increase in total assets driven by wealth management investments, significant year-on-year declines in revenue and net profit due to reduced product demand, and strong operating cash flow offset by substantial investment outflows Consolidated Balance Sheet As of September 30, 2022, total assets increased slightly to 2.11 billion Yuan, driven by a significant rise in financial assets held for trading due to wealth management product purchases, while total liabilities decreased, maintaining a low asset-liability ratio Major Balance Sheet Item Changes (Unit: Yuan) | Item | September 30, 2022 | January 1, 2022 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,108,460,000 | 2,052,530,000 | +2.73% | | Cash and Cash Equivalents | 1,212,710,000 | 1,415,560,000 | -14.33% | | Financial Assets Held for Trading | 350,160,000 | 0 | N/A | | Inventory | 90,500,000 | 142,630,000 | -36.55% | | Total Liabilities | 344,750,000 | 359,100,000 | -3.99% | | Contract Liabilities | 48,010,000 | 11,220,000 | +327.87% | | Total Equity | 1,763,710,000 | 1,693,430,000 | +4.15% | Consolidated Income Statement (Year-to-Date) In the first three quarters of 2022, operating revenue decreased by 35.46% and net profit by 30.37%, primarily due to reduced demand for disinfectant wipes, with increased administrative expenses and asset impairment losses contributing to the profit decline Major Income Statement Items (Year-to-Date, Unit: Yuan) | Item | Current Period Amount (2022 YTD) | Prior Period Amount (2021 YTD) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 525,640,000 | 814,500,000 | -35.46% | | Operating Cost | 351,030,000 | 547,300,000 | -35.86% | | Financial Expenses | -27,710,000 | 1,160,000 | -2489.31% | | Total Profit | 148,220,000 | 212,170,000 | -30.14% | | Net Profit | 128,930,000 | 185,160,000 | -30.37% | Consolidated Cash Flow Statement (Year-to-Date) In the first three quarters of 2022, net cash flow from operating activities increased by 34.63% to 251 million Yuan, while investing activities saw a net outflow of 372 million Yuan due to wealth management product purchases, and financing activities had a net outflow of 60.91 million Yuan for dividends, leading to an overall 173 million Yuan net decrease in cash and cash equivalents Major Cash Flow Statement Items (Year-to-Date, Unit: Yuan) | Item | Current Period Amount (2022 YTD) | Prior Period Amount (2021 YTD) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 251,100,000 | 186,510,000 | | Net Cash Flow from Investing Activities | -371,670,000 | -68,800,000 | | Net Cash Flow from Financing Activities | -60,910,000 | -45,260,000 | | Net Increase in Cash and Cash Equivalents | -173,280,000 | 70,830,000 | - Cash outflow from investing activities was primarily due to the payment of 450 million Yuan for wealth management products[26] - Cash outflow from financing activities was mainly for the payment of 60.91 million Yuan for dividend distribution, profit, or interest repayment[27]