国机重装(601399) - 2024 Q1 - 季度财报

Key Highlights This section provides key assurances regarding the quarterly report's accuracy and completeness, noting the unaudited financial statements - The company's 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 responsibility[3] - The company's principal officer, head of accounting, and head of the accounting department (accounting manager) guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - The first quarter financial statements are unaudited[3] Major Financial Data This section details the company's key financial performance and position for Q1 2024, including explanations for significant changes Key Accounting Data and Financial Indicators In Q1 2024, the company's operating revenue grew by 11.58%, net profit attributable to shareholders increased by 33.76%, and basic EPS rose by 33.63%, with slight increases in total assets and equity attributable to shareholders at period-end Key Accounting Data and Financial Indicators for Q1 2024 | Item | Current Period (CNY) | Change from Prior Year Period (%) | | :--- | :--- | :--- | | Operating Revenue | 2,871,039,287.24 | 11.58 | | Net Profit Attributable to Shareholders of Listed Company | 108,813,169.07 | 33.76 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 92,006,458.44 | 14.53 | | Net Cash Flow from Operating Activities | -276,355,108.07 | Not Applicable | | Basic Earnings Per Share (CNY/share) | 0.0151 | 33.63 | | Diluted Earnings Per Share (CNY/share) | 0.0151 | 33.63 | | Weighted Average Return on Net Assets (%) | 0.78 | Increased by 0.18 percentage points | | Item | As of End of Current Period (CNY) | As of End of Prior Year (CNY) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 30,696,726,697.38 | 30,072,528,899.86 | 2.08 | | Total Equity Attributable to Shareholders of Listed Company | 14,022,889,028.93 | 13,905,186,003.42 | 0.85 | Non-recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to 16.81 million CNY, primarily comprising government grants, non-current asset disposal gains/losses, and reversal of impairment provisions for receivables Non-recurring Gains and Losses Items and Amounts for Q1 2024 | Non-recurring Gains and Losses Item | Amount for Current Period (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -7,982,505.86 | | Government Grants Recognized in Current Profit/Loss | 19,560,167.48 | | Fair Value Change Gains/Losses from Financial Assets/Liabilities Held by Non-financial Enterprises and Gains/Losses from Disposal of Financial Assets/Liabilities | -42,740.83 | | Reversal of Impairment Provisions for Receivables Subject to Separate Impairment Testing | 3,191,150.16 | | Gains/Losses from Debt Restructuring | 435,373.50 | | Other Non-operating Income and Expenses | 831,784.35 | | Other Gains/Losses Meeting the Definition of Non-recurring Gains/Losses | 408,272.67 | | Less: Income Tax Impact | 161,892.50 | | Minority Interests Impact (After Tax) | 243,316.66 | | Total | 16,806,710.63 | Changes and Reasons for Major Accounting Data and Financial Indicators Net profit attributable to shareholders and basic/diluted EPS significantly increased year-over-year, driven by operating revenue growth, improved gross margin in the equipment R&D and manufacturing segment, and increased other income from VAT super deduction policies - Net profit attributable to shareholders of the listed company increased by 33.76% year-over-year, primarily due to increased operating revenue, higher gross margin in the equipment R&D and manufacturing segment, and a significant increase in other income from VAT super deduction policies[8] - Both basic and diluted earnings per share increased by 33.63% year-over-year, mainly attributable to the company's net profit growth[8] Shareholder Information This section details the total common shareholders and the shareholding structure of the top ten shareholders, including their nature and any pledged shares Total Common Shareholders and Top Ten Shareholders' Shareholding As of the end of the reporting period, the company had 62,656 common shareholders, with China National Machinery Industry Corporation as the largest shareholder at 47.15%, and its wholly-owned subsidiary, China Second Heavy Machinery Group Co., Ltd., holding 9.20% of shares, of which 53,340,000 shares are pledged - As of the end of the reporting period, the total number of common shareholders was 62,656 accounts[9] Top Ten Shareholders' Shareholding as of End of Reporting Period | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Share Status | Pledged, Marked, or Frozen Shares (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | China National Machinery Industry Corporation | State-owned Legal Entity | 3,400,968,500 | 47.15 | None | - | | China Second Heavy Machinery Group Co., Ltd. | State-owned Legal Entity | 663,809,495 | 9.20 | Pledged | 53,340,000 | | Agricultural Bank of China Co., Ltd. Sichuan Branch | State-owned Legal Entity | 450,282,826 | 6.24 | None | - | | Bank of China Co., Ltd. Deyang Branch | State-owned Legal Entity | 345,857,039 | 4.79 | None | - | | Guoxin Development Investment Management Co., Ltd. | State-owned Legal Entity | 284,852,892 | 3.95 | None | - | | Industrial and Commercial Bank of China Co., Ltd. Deyang Jingyang Sub-branch | State-owned Legal Entity | 198,294,615 | 2.75 | None | - | | China State-owned Enterprise Structural Adjustment Fund Co., Ltd. | State-owned Legal Entity | 185,588,450 | 2.57 | None | - | | China Construction Bank Co., Ltd. Sichuan Branch | State-owned Legal Entity | 116,088,631 | 1.61 | None | - | | Industrial Bank Co., Ltd. Chengdu Branch | State-owned Legal Entity | 96,752,168 | 1.34 | None | - | | Bank of Communications Co., Ltd. Sichuan Branch | State-owned Legal Entity | 94,374,232 | 1.31 | None | - | - China Second Heavy Machinery Group Co., Ltd. is a wholly-owned subsidiary of China National Machinery Industry Corporation[10] Other Reminders This section confirms that there are no other significant operating matters requiring investor attention during the reporting period - There are no other significant operating information requiring investor attention during the reporting period[11] Quarterly Financial Statements This section presents the company's unaudited consolidated 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[11] Financial Statements This section provides the company's consolidated balance sheet, income statement, and cash flow statement for Q1 2024, detailing financial position, operating results, and cash flow changes at period-end Consolidated Balance Sheet As of March 31, 2024, total assets were 30.70 billion CNY, a 2.08% increase from year-end, with total current assets at 21.80 billion CNY, non-current assets at 8.89 billion CNY, total liabilities at 16.04 billion CNY, and total equity at 14.65 billion CNY Key Data from Consolidated Balance Sheet | Item | March 31, 2024 (CNY) | December 31, 2023 (CNY) | | :--- | :--- | :--- | | Current Assets: | | | | Cash and Cash Equivalents | 7,528,221,577.66 | 8,191,950,655.60 | | Accounts Receivable | 5,544,898,809.79 | 4,739,628,794.72 | | Inventories | 3,379,440,675.40 | 3,641,264,127.62 | | Total Current Assets | 21,804,061,162.88 | 21,339,583,837.88 | | Non-current Assets: | | | | Fixed Assets | 3,326,965,978.89 | 3,419,278,692.98 | | Intangible Assets | 4,085,200,874.97 | 3,938,346,392.06 | | Total Non-current Assets | 8,892,665,534.50 | 8,732,945,061.98 | | Total Assets | 30,696,726,697.38 | 30,072,528,899.86 | | Current Liabilities: | | | | Short-term Borrowings | 100,991,666.66 | 303,986,944.44 | | Accounts Payable | 3,758,312,007.64 | 3,885,891,969.43 | | Contract Liabilities | 5,435,173,453.97 | 4,882,119,324.25 | | Total Current Liabilities | 12,658,419,785.72 | 12,182,185,127.60 | | Non-current Liabilities: | | | | Long-term Payables | 2,925,833,615.00 | 2,925,833,615.00 | | Total Non-current Liabilities | 3,385,588,853.19 | 3,361,021,358.48 | | Total Liabilities | 16,044,008,638.91 | 15,543,206,486.08 | | Equity: | | | | Total Equity Attributable to Parent Company Shareholders | 14,022,889,028.93 | 13,905,186,003.42 | | Minority Interests | 629,829,029.54 | 624,136,410.36 | | Total Equity | 14,652,718,058.47 | 14,529,322,413.78 | - Total assets increased by 2.08% compared to the prior year-end[4] - Total equity attributable to shareholders of the listed company increased by 0.85% compared to the prior year-end[5] Consolidated Income Statement In Q1 2024, the company achieved total operating revenue of 2.87 billion CNY, a 11.58% year-over-year increase, with net profit attributable to parent company shareholders at 109 million CNY, up 33.76%, alongside significant growth in other income and R&D expenses Key Data from Consolidated Income Statement | Item | Q1 2024 (CNY) | Q1 2023 (CNY) | Year-over-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,871,039,287.24 | 2,573,163,251.08 | 11.58 | | Total Operating Costs | 2,792,279,966.39 | 2,479,456,102.01 | 12.62 | | Including: Operating Costs | 2,557,354,904.55 | 2,305,311,719.25 | 10.93 | | Selling Expenses | 34,630,807.32 | 39,671,427.08 | -12.72 | | Administrative Expenses | 164,300,277.46 | 114,964,385.43 | 42.91 | | Research and Development Expenses | 54,602,240.23 | 19,174,047.14 | 184.77 | | Financial Expenses | -28,039,394.61 | -5,655,931.64 | -395.75 | | Other Income | 39,248,278.20 | 2,874,400.81 | 1265.00 | | Operating Profit | 127,189,889.85 | 93,912,336.68 | 35.44 | | Total Profit | 120,039,168.34 | 93,534,603.65 | 28.33 | | Net Profit | 113,842,520.40 | 83,836,960.51 | 35.79 | | Net Profit Attributable to Parent Company Shareholders | 108,813,169.07 | 81,350,570.58 | 33.76 | | Basic Earnings Per Share (CNY/share) | 0.0151 | 0.0113 | 33.63 | | Diluted Earnings Per Share (CNY/share) | 0.0151 | 0.0113 | 33.63 | - Other income significantly increased from 2.87 million CNY in Q1 2023 to 39.25 million CNY in Q1 2024[18] - Research and development expenses significantly increased from 19.17 million CNY in Q1 2023 to 54.60 million CNY in Q1 2024[18] Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities was -276 million CNY, a further increase in outflow from -86 million CNY in the prior year period, with both investing and financing cash outflows also significantly expanding Key Data from Consolidated Cash Flow Statement | Item | Q1 2024 (CNY) | Q1 2023 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -276,355,108.07 | -85,935,420.62 | | Net Cash Flow from Investing Activities | -190,360,845.22 | -149,673,248.34 | | Net Cash Flow from Financing Activities | -225,375,164.85 | -31,186,545.28 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -856,258.58 | -22,206,071.30 | | Net Increase in Cash and Cash Equivalents | -692,947,376.72 | -289,001,285.54 | | Cash and Cash Equivalents at End of Period | 7,226,969,071.40 | 7,520,793,311.67 | - Net cash flow from operating activities was -276.36 million CNY, an expanded outflow compared to -85.94 million CNY in the prior year period[4][22] - Net cash flow from financing activities was -225.38 million CNY, a significantly expanded outflow compared to -31.19 million CNY in the prior year period[23] Implementation of New Accounting Standards The company did not adjust its opening financial statements for 2024 due to the first-time adoption of new accounting standards or interpretations - The company did not adjust the opening financial statements for the current year due to the first-time adoption of new accounting standards or interpretations[23]