坤恒顺维(688283) - 2024 Q1 - 季度财报

Important Content Reminder This section highlights critical assurances regarding the quarterly report's integrity and its unaudited status - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility accordingly[2] - The financial statements for the first quarter of this reporting period are unaudited[2] Key Financial Data This section provides a comprehensive overview of the company's key financial performance and position indicators for the reporting period Key Accounting Data and Financial Indicators In Q1 2024, the company's operating revenue increased by 28.74% year-over-year, and net profit attributable to shareholders grew by 10.82%, while net profit excluding non-recurring gains and losses decreased by 71.86%, with R&D investment increasing by 47.92% and its proportion to operating revenue rising by 6.19 percentage points Financial Performance Indicators | Item | Amount for Current Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 24,810,530.98 | 28.74 | | Net Profit Attributable to Shareholders of Listed Company | 3,035,110.99 | 10.82 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 736,988.81 | -71.86 | | Net Cash Flow from Operating Activities | -25,883,724.12 | Not Applicable | | Basic Earnings Per Share (RMB/share) | 0.04 | 33.33 | | Diluted Earnings Per Share (RMB/share) | 0.04 | 33.33 | | Weighted Average Return on Net Assets (%) | 0.31 | Increase 0.00 percentage points | | Total R&D Investment | 11,844,170.14 | 47.92 | | R&D Investment as % of Operating Revenue (%) | 47.74 | Increase 6.19 percentage points | Balance Sheet Indicators | Item | Amount at End of Current Period (RMB) | Amount at End of Prior Year (RMB) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,065,752,175.92 | 1,091,126,695.84 | -2.33 | | Total Equity Attributable to Shareholders of Listed Company | 970,174,405.78 | 966,856,314.79 | 0.34 | Non-Recurring Gains and Losses and Amounts Total non-recurring gains and losses for the period amounted to RMB 2,298,122.18, primarily comprising government subsidies, fair value changes of financial assets, and other non-operating income and expenses, significantly impacting the company's net profit Non-Recurring Gains and Losses | Non-Recurring Gain/Loss Item | Amount for Current Period (RMB) | Description | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -21,911.74 | | | Government Subsidies Recognized in Current Profit/Loss | 1,908,728.81 | | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities Held by Non-Financial Enterprises | 752,649.26 | | | Other Non-Operating Income and Expenses Apart from the Above | 64,206.82 | | | Less: Income Tax Impact | 405,550.97 | | | Total | 2,298,122.18 | | Changes and Reasons for Key Accounting Data and Financial Indicators Operating revenue growth is primarily driven by increased demand for high-end test and simulation instruments and the company's core product technological advantages; net profit attributable to parent company increased due to revenue growth and higher government subsidies, partially offset by increased R&D expenses and depreciation/amortization; non-recurring net profit decreased mainly due to year-over-year increases in R&D expenses, depreciation/amortization, and the seasonal low proportion of Q1 revenue - Operating revenue increased by 28.74% year-over-year, primarily due to sustained growth in downstream market demand for high-end test and simulation instruments and the company's core products gaining increasing market recognition through technological advantages[7] - Net profit attributable to shareholders of the listed company increased by 10.82% year-over-year, mainly due to rapid operating revenue growth, continuous high investment in R&D for core high-end radio test and simulation instruments leading to a 47.92% year-over-year increase in R&D expenses, increased depreciation and amortization from investment projects, and a year-over-year increase in recognized deferred income from government subsidies[7] - Net profit attributable to shareholders of the listed company (excluding non-recurring gains and losses) decreased by 71.86% year-over-year, primarily due to year-over-year increases in R&D expenses, depreciation and amortization, and other income, coupled with the seasonal low proportion of Q1 revenue[8] - Net cash flow from operating activities increased year-over-year, mainly due to a 62.76% year-over-year increase in cash received from sales of goods and services, increased government subsidies received, and a year-over-year decrease in various taxes paid during the period[8] - Total R&D investment increased by 47.92% year-over-year, primarily due to the company's continuous high-intensity R&D investment to ensure product matrix improvement, enhanced product performance, and expanded application areas[8] Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the holdings of the top ten shareholders Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 2,645 common shareholders; among the top ten shareholders, Zhang Jilin held 29.81% as the largest shareholder, and Wu Jiangnian held 19.98%, while Minsheng Securities Investment Co., Ltd. participated in securities lending and had no outstanding loaned shares at period-end - As of the end of the reporting period, the total number of common shareholders was 2,645, with no preferred shareholders whose voting rights have been restored[11] Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Shareholding Ratio (%) | Shareholder Nature | Number of Restricted Shares Held (shares) | Share Status | Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhang Jilin | 25,040,296 | 29.81 | Domestic Natural Person | 25,040,296 | None | 0 | | Wu Jiangnian | 16,785,590 | 19.98 | Domestic Natural Person | 0 | None | 0 | | Huang Yonggang | 5,089,632 | 6.06 | Domestic Natural Person | 0 | None | 0 | | Zhou Tianchi | 2,914,011 | 3.47 | Domestic Natural Person | 0 | None | 0 | | Xia Qiong | 2,810,996 | 3.35 | Domestic Natural Person | 0 | None | 0 | | Minsheng Securities Investment Co., Ltd. | 1,050,000 | 1.25 | Other | 0 | None | 0 | | Li Wenjun | 1,433,120 | 1.71 | Domestic Natural Person | 0 | None | 0 | | Wang Chao | 967,455 | 1.15 | Domestic Natural Person | 0 | None | 0 | | Guotai Jiatai Stock Special Pension Product - China Merchants Bank Co., Ltd. | 935,848 | 1.11 | Other | 0 | None | 0 | | GF Securities Co., Ltd. - Ping An Ruixiang Wen Yu Flexible Allocation Mixed Securities Investment Fund | 918,629 | 1.09 | Other | 0 | None | 0 | Top Ten Shareholders' Unrestricted Shares | Shareholder Name | Number of Unrestricted Tradable Shares Held (shares) | Type and Quantity of Shares (shares) | | :--- | :--- | :--- | | Wu Jiangnian | 16,785,590 | RMB Common Shares 16,785,590 | | Huang Yonggang | 5,089,632 | RMB Common Shares 5,089,632 | | Zhou Tianchi | 2,914,011 | RMB Common Shares 2,914,011 | | Xia Qiong | 2,810,996 | RMB Common Shares 2,810,996 | | Li Wenjun | 1,433,120 | RMB Common Shares 1,433,120 | | Minsheng Securities Investment Co., Ltd. | 1,050,000 | RMB Common Shares 1,050,000 | | Wang Chao | 967,455 | RMB Common Shares 967,455 | | Guotai Jiatai Stock Special Pension Product - China Merchants Bank Co., Ltd. | 935,848 | RMB Common Shares 935,848 | | GF Securities Co., Ltd. - Ping An Ruixiang Wen Yu Flexible Allocation Mixed Securities Investment Fund | 918,629 | RMB Common Shares 918,629 | | Bank of China Co., Ltd. - E Fund Strategic Emerging Industries Stock Investment Fund | 777,412 | RMB Common Shares 777,412 | Shareholding Changes for Minsheng Securities Investment Co., Ltd. | Full Shareholder Name | Total Shares Held in Ordinary and Margin Accounts at Beginning of Period (shares) | Total Shares Loaned via Securities Lending and Not Yet Returned at Beginning of Period (shares) | Total Shares Held in Ordinary and Margin Accounts at End of Period (shares) | Total Shares Loaned via Securities Lending and Not Yet Returned at End of Period (shares) | | :--- | :--- | :--- | :--- | :--- | | Minsheng Securities Investment Co., Ltd. | 938,900 | 111,100 | 1,050,000 | 0 | Other Reminders This section confirms that there are no other significant operational matters during the reporting period requiring investor attention - The company states there are no other important operational matters during the reporting period requiring investor attention[17] Quarterly Financial Statements This section presents the company's unaudited financial statements for the first quarter, including the balance sheet, income statement, and cash flow statement Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[17] Financial Statements This section presents the company's consolidated balance sheet, income statement, and cash flow statement for Q1 2024, comprehensively illustrating its financial position, operating results, and cash flows during the reporting period Consolidated Balance Sheet As of March 31, 2024, the company's total assets were RMB 1,065,752,175.92, a slight decrease of 2.33% from the prior year-end, with total current assets at RMB 911,634,010.67, total non-current assets at RMB 154,118,165.25, total liabilities at RMB 95,577,770.14, and total owners' equity at RMB 970,174,405.78 Consolidated Balance Sheet | Item | March 31, 2024 (RMB) | December 31, 2023 (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 483,460,417.02 | 533,019,655.74 | | Financial Assets Held for Trading | 103,164,931.51 | 102,367,123.29 | | Notes Receivable | 13,503,746.83 | 14,245,362.66 | | Accounts Receivable | 195,931,036.90 | 207,895,542.41 | | Inventories | 98,630,604.96 | 86,287,975.38 | | Total Current Assets | 911,634,010.67 | 952,971,635.23 | | Fixed Assets | 127,228,368.88 | 112,437,616.08 | | Deferred Income Tax Assets | 10,767,547.58 | 9,138,450.00 | | Total Non-Current Assets | 154,118,165.25 | 138,155,060.61 | | Total Assets | 1,065,752,175.92 | 1,091,126,695.84 | | Accounts Payable | 42,390,611.01 | 61,115,408.16 | | Payroll Payable | 5,360,574.80 | 10,751,099.52 | | Taxes Payable | 407,263.37 | 13,947,806.68 | | Total Current Liabilities | 61,260,294.50 | 99,790,537.62 | | Deferred Income | 33,855,686.39 | 23,614,415.20 | | Total Non-Current Liabilities | 34,317,475.64 | 24,479,843.43 | | Total Liabilities | 95,577,770.14 | 124,270,381.05 | | Paid-in Capital (or Share Capital) | 84,000,000.00 | 84,000,000.00 | | Capital Reserves | 617,826,776.54 | 617,543,796.54 | | Retained Earnings | 234,357,993.43 | 231,322,882.44 | | Total Equity Attributable to Parent Company Owners (or Shareholders' Equity) | 970,174,405.78 | 966,856,314.79 | | Total Liabilities and Owners' Equity (or Shareholders' Equity) | 1,065,752,175.92 | 1,091,126,695.84 | - As of March 31, 2024, the company's total assets were RMB 1,065,752,175.92, representing a 2.33% decrease from the prior year-end[3][18] - Total equity attributable to shareholders of the listed company was RMB 970,174,405.78, an increase of 0.34% from the prior year-end[3][20] Consolidated Income Statement In Q1 2024, the company achieved total operating revenue of RMB 24,810,530.98, a 28.74% year-over-year increase, with net profit attributable to parent company shareholders at RMB 3,035,110.99, up 10.82% year-over-year, and R&D expenses totaling RMB 11,844,170.14, a 47.92% year-over-year increase Consolidated Income Statement | Item | Q1 2024 (RMB) | Q1 2023 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 24,810,530.98 | 19,271,238.97 | | Total Operating Costs | 24,960,380.68 | 17,185,854.94 | | Including: Operating Costs | 7,708,833.45 | 5,963,629.30 | | Selling Expenses | 4,691,549.72 | 5,460,470.19 | | Administrative Expenses | 4,498,485.87 | 2,960,233.50 | | R&D Expenses | 11,844,170.14 | 8,006,968.95 | | Financial Expenses | -3,963,181.82 | -5,229,553.05 | | Other Income | 2,168,471.98 | 165,721.13 | | Gains from Fair Value Changes | 752,649.26 | 0 | | Credit Impairment Losses | -1,184,419.30 | 1,343,001.02 | | Operating Profit | 1,554,452.24 | 3,580,450.22 | | Total Profit | 1,532,541.16 | 3,631,788.62 | | Income Tax Expense | -1,502,569.83 | 892,917.89 | | Net Profit | 3,035,110.99 | 2,738,870.73 | | Net Profit Attributable to Parent Company Shareholders | 3,035,110.99 | 2,738,870.73 | | Basic Earnings Per Share (RMB/share) | 0.04 | 0.03 | | Diluted Earnings Per Share (RMB/share) | 0.04 | 0.03 | - Total operating revenue for Q1 2024 was RMB 24,810,530.98, representing a 28.74% year-over-year increase[2][21] - Net profit attributable to parent company shareholders was RMB 3,035,110.99, representing a 10.82% year-over-year increase[2][23] - R&D expenses amounted to RMB 11,844,170.14, representing a 47.92% year-over-year increase[3][22] Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities was RMB -25,883,724.12, a reduced net outflow compared to the prior year, with cash received from sales of goods and services increasing by 62.76% year-over-year; net cash outflow from investing activities was RMB 71,321,838.26, and from financing activities was RMB 155,446.20 Consolidated Cash Flow Statement | Item | Q1 2024 (RMB) | Q1 2023 (RMB) | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 36,109,267.55 | 22,185,180.54 | | Other Cash Received Related to Operating Activities | 19,661,397.31 | 7,559,534.27 | | Subtotal of Cash Inflows from Operating Activities | 55,770,664.86 | 29,822,713.85 | | Cash Paid for Goods and Services | 39,450,456.98 | 28,702,694.31 | | Cash Paid to and for Employees | 18,560,277.33 | 17,684,153.67 | | Various Taxes Paid | 16,041,382.36 | 21,666,528.06 | | Subtotal of Cash Outflows from Operating Activities | 81,654,388.98 | 73,901,340.54 | | Net Cash Flow from Operating Activities | -25,883,724.12 | -44,078,626.69 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 21,321,838.26 | 16,190,288.33 | | Other Cash Paid Related to Investing Activities | 50,000,000.00 | 80,001,571.53 | | Subtotal of Cash Outflows from Investing Activities | 71,321,838.26 | 96,915,105.38 | | Net Cash Flow from Investing Activities | -71,321,838.26 | -96,914,399.73 | | Other Cash Paid Related to Financing Activities | 155,446.20 | 148,044.00 | | Subtotal of Cash Outflows from Financing Activities | 155,446.20 | 147,143.15 | | Net Cash Flow from Financing Activities | -155,446.20 | -147,143.15 | | Net Increase in Cash and Cash Equivalents | -97,361,008.58 | -141,140,169.57 | | Cash and Cash Equivalents at End of Period | 220,176,124.51 | 407,269,051.90 | - Net cash flow from operating activities was RMB -25,883,724.12, representing a reduced net outflow compared to the prior year[2][26] - Cash received from sales of goods and services was RMB 36,109,267.55, representing a 62.76% year-over-year increase[8][26] - Net cash flow from investing activities was RMB -71,321,838.26, primarily used for the acquisition of fixed assets, intangible assets, and other long-term assets, as well as other cash payments related to investing activities[27]