华润材料(301090) - 2024 Q1 - 季度财报

Company Basic Information Report Statement and Audit Status The Q1 2024 report is guaranteed for truthfulness by key personnel and remains unaudited - The Board of Directors, Board of Supervisors, and senior management guarantee the report's truthfulness, accuracy, and completeness, free from false records, misleading statements, or major omissions[3] - The company's head, chief accountant, and head of accounting declare and guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[22] - This quarterly report is unaudited[54] I. Key Financial Data Key Accounting Data and Financial Indicators Q1 2024 operating revenue declined by 18.29%, net profit turned to loss, and operating cash flow deteriorated by 100.84% Key Financial Data for Q1 2024 | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,623,384,223.52 | 4,434,546,336.67 | -18.29% | | Net Profit Attributable to Shareholders of Listed Company | -78,501,592.69 | 164,203,542.16 | -147.81% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | -99,109,515.79 | 144,472,159.12 | -168.60% | | Net Cash Flow from Operating Activities | -1,277,605,463.55 | -636,127,507.51 | -100.84% | | Basic Earnings Per Share (RMB/share) | -0.0531 | 0.1110 | -147.84% | | Diluted Earnings Per Share (RMB/share) | -0.0530 | 0.1110 | -147.75% | | Weighted Average Return on Net Assets | -1.10% | 2.34% | -3.44% | | Total Assets (Period-end) | 10,132,558,893.29 | 10,494,640,501.61 | -3.45% | | Total Equity Attributable to Shareholders of Listed Company (Period-end) | 7,099,250,593.67 | 7,173,666,556.73 | -1.04% | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses were RMB 20.61 million, mainly from government subsidies and investment income, offsetting asset disposal losses and donations Non-recurring Gains and Losses Items for Q1 2024 | Item | Amount for Current Period (RMB) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -98,513.50 | Primarily losses from fixed asset write-offs | | Government subsidies recognized in current profit/loss | 10,853,144.94 | Primarily government subsidies received in prior periods and deferred to the current period | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities | 13,922,121.87 | Primarily investment income | | Other non-operating income and expenses apart from the above | -54,360.95 | Primarily donation expenses | | Less: Income tax impact | 3,904,679.83 | | | Impact on minority interests (after tax) | 109,789.43 | | | Total | 20,607,923.10 | -- | - The company does not classify non-recurring gains and losses as recurring gains and losses[7] Changes and Reasons for Key Accounting Data and Financial Indicators Balance sheet and cash flow items saw significant changes, with cash and payables decreasing, borrowings increasing, and operating cash flow experiencing a large outflow Significant Changes and Reasons for Balance Sheet Items Significant Changes in Balance Sheet Items | Item | March 31, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 880,020,379.38 | 1,770,879,695.06 | -50.31% | Primarily due to payments for maturing notes payable and goods in the current period | | Notes Receivable | - | 150,000.00 | -100.00% | Primarily due to collection of maturing notes receivable in the current period | | Financing Receivables | 567,960.00 | 1,092,396.50 | -48.01% | Primarily due to collection of high-credit-rated notes receivable in the current period | | Other Receivables | 28,046,394.18 | 21,429,874.60 | 30.88% | Primarily due to increased rebates in the current period | | Short-term Borrowings | 152,167,988.78 | 10,016,013.91 | 1419.25% | Primarily due to new short-term borrowings in the current period | | Notes Payable | 1,020,289,152.74 | 1,520,757,733.89 | -32.91% | Primarily due to maturing notes in the current period | | Employee Compensation Payable | 63,612,148.50 | 95,438,884.88 | -33.35% | Primarily due to payment of 2023 year-end bonuses in the current period | | Taxes Payable | 7,347,039.56 | 15,773,742.39 | -53.42% | Primarily due to decreased income tax resulting from lower profits in the current period | | Non-current Liabilities Due Within One Year | 159,348,139.28 | 14,292,660.52 | 1014.89% | Primarily due to new long-term borrowings due within one year in the current period | | Deferred Income Tax Liabilities | 14,961,693.41 | 8,326,292.22 | 79.69% | Primarily due to increased taxable temporary differences in the current period | Significant Changes and Reasons for Cash Flow Statement Items Significant Changes in Cash Flow Statement Items | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,277,605,463.55 | -636,127,507.51 | -100.84% | Primarily due to increased cash payments for goods and services in the current period | | Net Cash Flow from Investing Activities | 94,334,942.72 | -408,131,094.37 | 123.11% | Primarily due to investment expenditure in Shenzhen Jusheng Partnership in the prior period | | Net Cash Flow from Financing Activities | 287,341,249.14 | 1,480,882.17 | 19303.38% | Primarily due to increased borrowings in the current period | II. Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of March 31, 2024, the company had 25,767 common shareholders; controlling shareholders hold over 80% of restricted shares, with some related party relationships - Total number of common shareholders at the end of the reporting period was 25,767[11] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage (%) | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | China Resources Chemical Materials Investment Co., Ltd. | State-owned Legal Entity | 57.47% | 854,189,859.00 | 854,189,859.00 | | China Resources Chemical Co., Ltd. | State-owned Legal Entity | 23.82% | 353,999,475.00 | 353,999,475.00 | | BP (China) Investment Co., Ltd. | Domestic Non-state-owned Legal Entity | 3.32% | 49,314,736.00 | 49,314,736.00 | | Guoxin Investment Co., Ltd. | State-owned Legal Entity | 2.30% | 34,138,715.00 | 0.00 | | Guoxin New Pattern (Beijing) Private Securities Fund Management Co., Ltd. - Guoxin Central SOE New Development Pattern Private Securities Investment Fund | Other | 1.71% | 25,407,350.00 | 0.00 | - China Resources Chemical Materials Investment Co., Ltd. and China Resources Chemical Co., Ltd. are both controlled by China Resources, the company's actual controller; Guoxin New Pattern (Beijing) Private Securities Fund Management Co., Ltd. - Guoxin Central SOE New Development Pattern Private Securities Investment Fund and Guoxin Investment Co., Ltd. are both controlled by China Guoxin Holdings Co., Ltd., and are considered parties acting in concert[13] Total Number of Preferred Shareholders and Top Ten Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[36] Changes in Restricted Shares During the reporting period, there were no changes in the company's restricted shares - Changes in the company's restricted shares are not applicable, meaning no changes occurred[45] III. Other Significant Matters Financial Statements The company disclosed its Q1 2024 consolidated balance sheet, income statement, and cash flow statement, detailing period-end financial position and cash movements Consolidated Balance Sheet Key Data from Consolidated Balance Sheet | Item | Period-end Balance (RMB) | Period-beginning Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 10,132,558,893.29 | 10,494,640,501.61 | | Total Current Assets | 7,485,507,805.62 | 7,812,246,874.67 | | Total Non-current Assets | 2,647,051,087.67 | 2,682,393,626.94 | | Total Liabilities | 3,031,391,754.00 | 3,318,876,755.21 | | Total Current Liabilities | 2,842,358,217.15 | 3,126,284,116.59 | | Total Non-current Liabilities | 189,033,536.85 | 192,592,638.62 | | Total Owner's Equity | 7,101,167,139.29 | 7,175,763,746.40 | | Total Equity Attributable to Parent Company Owners | 7,099,250,593.67 | 7,173,666,556.73 | Consolidated Income Statement Key Data from Consolidated Income Statement | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 3,623,384,223.52 | 4,434,546,336.67 | | Total Operating Costs | 3,722,962,158.08 | 4,235,879,515.80 | | Operating Profit | -76,061,028.17 | 221,956,278.68 | | Total Profit | -76,213,902.62 | 221,999,727.67 | | Net Profit | -78,682,236.74 | 163,893,532.23 | | Net Profit Attributable to Parent Company Owners | -78,501,592.69 | 164,203,542.16 | | Basic Earnings Per Share | -0.0531 | 0.1110 | | Diluted Earnings Per Share | -0.0530 | 0.1110 | - R&D expenses for the current period were RMB 13,360,513.12, compared to RMB 6,784,747.49 in the prior period, a year-over-year increase of 96.92%, primarily due to increased R&D investment in the current period[30][48] - Financial expenses for the current period were RMB -19,029,950.32, compared to RMB -951,166.81 in the prior period, a year-over-year decrease of 1900.70%, primarily due to increased exchange gains in the current period[30][48] Consolidated Cash Flow Statement Key Data from Consolidated Cash Flow Statement | Item | Amount for Current Period (RMB) | Amount for Prior Period (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1,277,605,463.55 | -636,127,507.51 | | Net Cash Flow from Investing Activities | 94,334,942.72 | -408,131,094.37 | | Net Cash Flow from Financing Activities | 287,341,249.14 | 1,480,882.17 | | Net Increase in Cash and Cash Equivalents | -878,276,584.07 | -1,056,889,237.42 | | Period-end Balance of Cash and Cash Equivalents | 780,805,283.59 | 1,289,521,950.27 | - Total cash inflow from operating activities was RMB 4,172,709,267.29, and total cash outflow from operating activities was RMB 5,450,314,730.84, resulting in a negative net cash flow from operating activities[43] - Cash received from borrowings was RMB 297,155,315.15, which was the main source of cash inflow from financing activities[43] Adjustments to New Accounting Standards The company adopted new accounting standards in 2024, but no adjustments were made to the initial financial statements for this period - New accounting standards were adopted for the first time in 2024, but no adjustments were made to financial statement items at the beginning of the first year of adoption[43] Audit Report This quarterly report is unaudited - The company's Q1 report is unaudited[54]