盈康生命(300143) - 2024 Q1 - 季度财报

Key Financial Data The company's Q1 2024 revenue grew by 15.17% to RMB 416 million, while net profit attributable to shareholders decreased by 33.69% to RMB 26.23 million, despite strong operating cash flow growth of 164.52% to RMB 102 million Key Accounting Data and Financial Indicators In Q1 2024, the company achieved operating revenue of RMB 416 million, a 15.17% year-over-year increase, while net profit attributable to shareholders significantly decreased by 33.69% to RMB 26.23 million, despite operating cash flow reaching RMB 102 million, up 164.52% Key Financial Indicators for Q1 2024 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 416,230,884.39 | 361,417,574.60 | +15.17% | | Net Profit Attributable to Parent (RMB) | 26,225,857.82 | 39,550,000.16 | -33.69% | | Non-recurring Net Profit Attributable to Parent (RMB) | 23,824,607.82 | 38,768,280.17 | -38.55% | | Net Cash Flow from Operating Activities (RMB) | 102,289,209.00 | 38,669,216.63 | +164.52% | | Basic Earnings Per Share (RMB/share) | 0.0410 | 0.0616 | -33.44% | Key Balance Sheet Indicators at Period-End | Indicator | End of Current Period | End of Prior Year | Period-end vs Prior Year-end Change | | :--- | :--- | :--- | :--- | | Total Assets (RMB) | 2,521,874,590.97 | 2,400,229,493.43 | +5.07% | | Equity Attributable to Shareholders of Listed Company (RMB) | 1,367,642,669.70 | 1,381,668,862.20 | -1.02% | Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to RMB 2.40 million, primarily comprising government grants of RMB 3.03 million and net other non-operating income/expenses of -RMB 0.23 million, with software VAT refunds of RMB 1.01 million classified as recurring income Details of Non-Recurring Gains and Losses Items | Item | Amount for Current Period (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 226,466.75 | | Government Grants Recognized in Current P&L | 3,028,683.79 | | Other Non-operating Income and Expenses | -458,029.41 | | Total | 2,401,250.00 | - The company classified RMB 1.01 million in software VAT refunds, closely related to normal operations, as recurring gains and losses, not non-recurring items[7] Analysis of Changes in Key Financial Indicators Key financial indicators showed significant fluctuations this period, with net profit attributable to parent decreasing by 33.69% primarily due to increased equity incentive expenses, while net cash flow from operating activities surged by 164.52% driven by the healthcare services segment - Net profit attributable to shareholders and non-recurring net profit attributable to shareholders decreased by 33.69% and 38.55% year-over-year, respectively, primarily due to increased equity incentive expenses in the current period[8] - Net cash flow from operating activities significantly increased by 164.52% year-over-year, mainly due to increased net cash flow from the healthcare services segment in the current period[8] Shareholder Information As of the reporting period end, the company had 17,088 common shareholders, with the largest shareholder, Qingdao Yingkang Medical Investment Co., Ltd., holding 39.93% and acting in concert with the second largest shareholder, both controlled by Haier Group Shareholder Holdings As of the reporting period end, the company had 17,088 common shareholders, with Qingdao Yingkang Medical Investment Co., Ltd. as the largest shareholder holding 39.93%, acting in concert with the second largest shareholder, both controlled by Haier Group - As of the end of the reporting period, the company had a total of 17,088 common shareholders[9] Top Three Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding (%) | Number of Shares Held | | :--- | :--- | :--- | :--- | | Qingdao Yingkang Medical Investment Co., Ltd. | Domestic Non-state-owned Legal Person | 39.93% | 256,446,585 | | Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership) | Domestic Non-state-owned Legal Person | 1.73% | 11,104,500 | | Ye Fulin | Domestic Natural Person | 1.70% | 10,922,141 | - The top two shareholders, Qingdao Yingkang Medical Investment Co., Ltd. and Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership), are parties acting in concert with the company's actual controller, Haier Group Corporation[10] Changes in Restricted Shares During the reporting period, the company's total restricted shares decreased by 13,500 due to the unlocking of executive restricted shares, involving two executives, He Ling and Liu Gang, both with zero restricted shares at period-end Details of Restricted Share Changes | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Released This Period | Restricted Shares at End of Period | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | He Ling | 7,875 | 7,875 | 0 | Executive Restricted Shares | | Liu Gang | 5,625 | 5,625 | 0 | Executive Restricted Shares | | Total | 13,500 | 13,500 | 0 | | Other Significant Matters During the reporting period, the company actively managed its market value by initiating a share repurchase plan of RMB 40-80 million for equity incentives or employee stock ownership, while the controlling shareholder increased its stake and plans further purchases within six months, demonstrating confidence in the company's prospects - The company initiated a share repurchase plan in February 2024, intending to use RMB 40-80 million of its own funds to repurchase shares; as of March 29, 5,244,152 shares had been repurchased, totaling RMB 44.86 million[14] - The company's controlling shareholder, Qingdao Yingkang Medical Investment Co., Ltd., increased its holdings by 370,000 shares in February 2024 and plans to continue increasing its stake by RMB 10-20 million within six months from February 20[15] Quarterly Financial Statements The company's Q1 2024 financial statements show total assets increased by 5.07% to RMB 2.52 billion, total liabilities rose by 14.00% to RMB 1.11 billion, and net profit attributable to parent decreased by 33.69% to RMB 26.23 million, while operating cash flow significantly improved to RMB 102 million Consolidated Balance Sheet As of March 31, 2024, the company's total assets reached RMB 2.52 billion, up 5.07% from the beginning of the year, while total liabilities increased by 14.00% to RMB 1.11 billion, driven by higher short-term and long-term borrowings, and equity attributable to parent slightly decreased by 1.02% to RMB 1.37 billion Key Balance Sheet Items (Period-end vs Beginning-of-period) | Item | Period-end Balance (RMB) | Beginning-of-period Balance (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 2,521,874,590.97 | 2,400,229,493.43 | +5.07% | | Cash and Cash Equivalents | 528,583,505.72 | 480,489,632.31 | +10.01% | | Total Liabilities | 1,107,259,115.67 | 971,419,126.24 | +14.00% | | Short-term Borrowings | 188,135,722.22 | 168,150,722.22 | +11.89% | | Long-term Borrowings | 72,066,000.00 | 20,040,833.33 | +259.60% | | Equity Attributable to Parent Company Owners | 1,367,642,669.70 | 1,381,668,862.20 | -1.02% | Consolidated Income Statement In Q1 2024, the company's total operating revenue was RMB 416 million, a 15.17% year-over-year increase, but operating profit decreased by 26.90% to RMB 34.70 million due to significant increases in operating costs and administrative expenses (19.0%), resulting in net profit attributable to parent of RMB 26.23 million, down 33.69% Key Income Statement Items (Year-over-Year) | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 416,230,884.39 | 361,417,574.60 | +15.17% | | Total Operating Costs | 382,865,011.79 | 313,852,675.18 | +21.99% | | Including: Administrative Expenses | 46,917,988.88 | 39,429,420.07 | +19.00% | | Operating Profit | 34,701,575.17 | 47,469,023.13 | -26.90% | | Net Profit Attributable to Parent Company Owners | 26,225,857.82 | 39,550,000.16 | -33.69% | Consolidated Cash Flow Statement During the reporting period, the company maintained a healthy cash flow, with net cash flow from operating activities significantly increasing by 164.52% to RMB 102 million, while net cash outflow from investing activities was RMB 73.90 million, and net cash inflow from financing activities was RMB 20.99 million, leading to a RMB 49.40 million increase in cash and cash equivalents to RMB 520 million at period-end Cash Flow Statement Overview | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 102,289,209.00 | 38,669,216.63 | | Net Cash Flow from Investing Activities | -73,896,713.14 | -57,320,837.17 | | Net Cash Flow from Financing Activities | 20,992,988.23 | -1,690,284.22 | | Net Increase in Cash and Cash Equivalents | 49,398,245.13 | -20,494,956.30 |