金冠电气(688517) - 2024 Q1 - 季度财报

Important Disclosure Jinguan Electric Co., Ltd.'s unaudited Q1 2024 report is guaranteed by its Board, Supervisory Board, and senior management for truthfulness, accuracy, and completeness - This quarterly report is unaudited[5] - The company's Board of Directors, Supervisory Board, and senior management assume legal responsibility for the truthfulness, accuracy, and completeness of the report's content[2][3][4] Key Financial Data Jinguan Electric's Q1 2024 saw significant revenue and net profit growth driven by arrester sales, despite negative operating cash flow, with R&D focused on new products Key Accounting Data and Financial Indicators Jinguan Electric's Q1 2024 operating revenue grew 49.82% to 129 million yuan, net profit attributable to shareholders increased 129.88% to 20.5664 million yuan, with basic EPS of 0.15 yuan; operating cash flow was negative, while total assets and equity remained relatively stable Q1 2024 Key Accounting Data and Financial Indicators | Item | Current Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 128,722,055.86 | 49.82 | | Net Profit Attributable to Listed Company Shareholders | 20,566,411.46 | 129.88 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-Recurring Gains and Losses | 18,075,462.60 | 132.11 | | Net Cash Flow from Operating Activities | -356,012.93 | N/A | | Basic Earnings Per Share (Yuan/Share) | 0.15 | 114.29 | | Diluted Earnings Per Share (Yuan/Share) | 0.15 | 114.29 | | Weighted Average Return on Net Assets (%) | 2.54 | Increased by 1.33 percentage points | | Total R&D Investment | 8,735,826.09 | 46.99 | | R&D Investment as Percentage of Operating Revenue (%) | 6.79 | Decreased by 0.13 percentage points | Balance Sheet End-of-Period Data | Item | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,259,160,890.07 | 1,276,551,315.55 | -1.36 | | Owner's Equity Attributable to Listed Company Shareholders | 802,325,819.74 | 800,899,489.30 | 0.18 | Non-Recurring Gains and Losses Items and Amounts The company's non-recurring gains and losses totaled 2.4909 million yuan this period, primarily from government grants and fair value changes of financial assets, alongside non-current asset disposal losses Q1 2024 Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount for Current Period (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | -115,718.99 | | Government Grants Included in Current Profit and Loss | 2,405,980.31 | | Gains and Losses from Changes in Fair Value of Financial Assets and Liabilities Held by Non-Financial Enterprises, and Disposal of Financial Assets and Liabilities | 526,802.12 | | Other Non-Operating Income and Expenses | 113,524.48 | | Less: Income Tax Impact | 439,639.06 | | Total | 2,490,948.86 | Analysis of Changes in Financial Indicators Significant growth in operating revenue and net profit was driven by increased arrester income; negative operating cash flow resulted from reduced sales collections; R&D investment surged, focusing on new products like charging piles and energy storage Reasons for Changes in Key Financial Indicators | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | 49.82 | Primarily due to increased arrester income compared to the prior year | | Net Profit Attributable to Listed Company Shareholders | 129.88 | Primarily due to increased arrester income compared to the prior year | | Net Cash Flow from Operating Activities | N/A | Primarily due to reduced sales collections in the reporting period compared to the prior year | | Total R&D Investment | 46.99 | Primarily due to the company's increased R&D investment in new products such as charging piles and energy storage during the reporting period | Shareholder Information The company has 5,856 common shareholders, with Henan Jinguan New Energy Group as the largest, holding 40.27% of shares, including restricted and some pledged shares among top holders Common Shareholder and Top Ten Shareholder Holdings As of the end of the reporting period, the company had 5,856 common shareholders; Henan Jinguan New Energy Group Co., Ltd. is the largest shareholder with 40.27% equity, mostly restricted shares, and Shenzhen Dinghuitong Industrial Co., Ltd. has some pledged shares among the top ten - Total common shareholders at the end of the reporting period were 5,856[11] Top 10 Shareholder Holdings | Shareholder Name | Shareholder Type | Number of Shares Held (Shares) | Holding Percentage (%) | Number of Restricted Shares Held (Shares) | Pledge, Mark, or Freeze Status (Number) | | :--- | :--- | :--- | :--- | :--- | :--- | | Henan Jinguan New Energy Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 55,015,289 | 40.27 | 51,110,289 | None 0 | | Henan Zhongrui Boyuan Investment Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 10,491,199 | 7.68 | 0 | None 0 | | Nantong Guangkong Zhizao Equity Investment Fund Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 5,978,657 | 4.38 | 0 | None 0 | | Fu Jianye | Domestic Natural Person | 3,143,949 | 2.30 | 0 | None 0 | | Shi Yajun | Domestic Natural Person | 2,277,167 | 1.67 | 0 | None 0 | | Zhang Wei | Domestic Natural Person | 2,242,310 | 1.64 | 0 | None 0 | | Zhao Zhijun | Domestic Natural Person | 1,922,490 | 1.41 | 0 | None 0 | | Zhen Huaiwei | Domestic Natural Person | 1,784,653 | 1.31 | 0 | None 0 | | Shenzhen Dinghuitong Industrial Co., Ltd. | Domestic Non-State-Owned Legal Person | 1,674,194 | 1.23 | 0 | Pledged 1,000,000 | | Shenzhen Qianhai Ruijing Kaiyuan Fund Management Co., Ltd. - Ruiyuan Stable No. 1 Private Securities Investment Fund | Domestic Non-State-Owned Legal Person | 1,391,252 | 1.02 | 0 | None 0 | - The company's special share repurchase account holds 1,599,775 shares, representing 1.17% of total shares, not listed among the top 10 shareholders[12] Other Reminders The company declares no other significant operating information requiring special investor attention during this reporting period - The company declares no other significant operating information requiring special investor attention during this reporting period[14] Quarterly Financial Statements This unaudited Q1 2024 report includes the consolidated balance sheet, income statement, and cash flow statement, showing revenue growth, negative operating cash flow, and no new accounting standard adjustments Type of Audit Opinion This quarterly financial report is unaudited - This quarterly financial report is unaudited[14] Consolidated Balance Sheet As of March 31, 2024, total assets slightly decreased by 1.36% to 1.25916 billion yuan, with both current and non-current assets declining; total liabilities also slightly decreased, while owner's equity remained stable Consolidated Balance Sheet Key Data (March 31, 2024 vs December 31, 2023) | Item | March 31, 2024 (Yuan) | December 31, 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 322,105,461.72 | 362,312,061.18 | -11.10 | | Notes Receivable | 8,985,460.35 | 21,386,295.53 | -57.98 | | Accounts Receivable | 437,120,987.88 | 432,855,977.94 | 0.99 | | Inventories | 121,044,932.77 | 109,209,727.32 | 10.84 | | Total Current Assets | 978,351,479.72 | 993,047,073.66 | -1.48 | | Total Non-Current Assets | 280,809,410.35 | 283,504,241.89 | -0.95 | | Total Assets | 1,259,160,890.07 | 1,276,551,315.55 | -1.36 | | Notes Payable | 97,599,849.13 | 120,886,956.22 | -19.26 | | Accounts Payable | 281,813,540.62 | 257,955,265.12 | 9.25 | | Total Current Liabilities | 422,885,384.61 | 441,029,673.09 | -4.11 | | Total Non-Current Liabilities | 33,949,685.72 | 34,622,153.16 | -1.94 | | Total Liabilities | 456,835,070.33 | 475,651,826.25 | -3.96 | | Total Owner's Equity Attributable to Parent Company | 802,325,819.74 | 800,899,489.30 | 0.18 | Consolidated Income Statement In Q1 2024, the company's total operating revenue surged by 49.82%, with significant growth in operating profit and net profit, primarily driven by the arrester business, alongside a substantial increase in R&D expenses Consolidated Income Statement Key Data (Q1 2024 vs Q1 2023) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 128,722,055.86 | 85,917,020.68 | 49.82 | | Total Operating Costs | 107,180,186.03 | 77,238,031.42 | 38.77 | | Operating Costs | 80,925,180.81 | 57,617,547.85 | 40.46 | | Selling Expenses | 4,997,231.98 | 4,098,687.94 | 21.92 | | Administrative Expenses | 10,343,412.52 | 9,005,819.40 | 14.85 | | R&D Expenses | 8,735,826.09 | 5,943,139.95 | 46.99 | | Financial Expenses | 181,803.72 | -134,229.61 | N/A | | Operating Profit | 22,857,665.92 | 8,629,680.49 | 164.88 | | Total Profit | 22,971,190.40 | 9,348,688.50 | 145.73 | | Net Profit | 20,566,411.46 | 8,946,507.35 | 129.88 | | Basic Earnings Per Share (Yuan/Share) | 0.15 | 0.07 | 114.29 | Consolidated Cash Flow Statement In Q1 2024, operating cash flow turned negative due to reduced sales collections; investment cash outflows decreased, while financing cash outflows significantly increased, mainly from other financing-related payments Consolidated Cash Flow Statement Key Data (Q1 2024 vs Q1 2023) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -356,012.93 | 43,040,854.38 | | Net Cash Flow from Investing Activities | -12,379,547.48 | -43,382,535.43 | | Net Cash Flow from Financing Activities | -21,097,807.72 | -423,556.40 | | Net Increase in Cash and Cash Equivalents | -33,833,368.13 | -765,237.45 | | Cash and Cash Equivalents at End of Period | 280,967,151.12 | 280,087,938.37 | - Operating cash flow net amount shifted from positive to negative, primarily due to reduced sales collections compared to the prior year[9][21] - Financing cash outflows significantly increased, mainly due to payments for other financing-related activities[22] Explanation of Accounting Standard Adjustments The company states that the initial adoption of new accounting standards or interpretations in 2024 does not require adjustments to the financial statements at the beginning of the first year of implementation - The initial adoption of new accounting standards or interpretations in 2024 does not require adjustments to the financial statements at the beginning of the first year of implementation[22] Report Signature and Date Jinguan Electric Co., Ltd.'s Board of Directors issued this quarterly report on April 24, 2024 - This quarterly report was issued by the Board of Directors of Jinguan Electric Co., Ltd. on April 24, 2024[23]