壶化股份(003002) - 2024 Q1 - 季度财报

Report Overview This report affirms the authenticity and integrity of its disclosures, which have not been audited Important Notes The report affirms the truthfulness, accuracy, and completeness of its disclosures, guaranteed by the Board of Directors, Supervisory Committee, and senior management, and clarifies that this quarterly report is unaudited - The Board of Directors, Supervisory Committee, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or material omissions[3] - The company's principal, chief accounting officer, and head of the accounting department declare that the financial information in the quarterly report is truthful, accurate, and complete[3] - The first quarterly report is unaudited[4][24] Key Financial Data The company's Q1 2024 financial performance shows decreased revenue and operating cash flow, though net profit attributable to shareholders increased due to non-recurring items Key Accounting Data and Financial Indicators In Q1 2024, operating revenue decreased by 13.64% YoY, while net profit attributable to shareholders grew by 28.17%, but net profit excluding non-recurring items and net operating cash flow declined significantly | Indicator | Current Period (CNY) | Prior Year Period (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 177,923,141.56 | 206,025,983.22 | -13.64% | | Net Profit Attributable to Shareholders | 13,740,590.23 | 10,720,206.18 | 28.17% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 4,361,603.20 | 10,114,317.20 | -56.88% | | Net Cash Flow from Operating Activities | -10,539,931.42 | -5,288,693.95 | -99.29% | | Basic Earnings Per Share (CNY/Share) | 0.0689 | 0.0536 | 28.54% | | Weighted Average Return on Equity | 1.06% | 0.94% | 0.12% | | Total Assets (Period-end) | 1,893,169,842.80 | 1,944,501,162.43 | -2.64% | | Equity Attributable to Shareholders (Period-end) | 1,288,725,749.85 | 1,302,379,693.64 | -1.05% | Non-recurring Profit and Loss Items and Amounts Total non-recurring profit and loss for the period amounted to CNY 9.38 million, primarily from fair value changes in financial assets and government grants | Item | Amount for the Period (CNY) | Notes | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 10,532.77 | | | Government Grants Recognized in Current Profit or Loss | 2,619,227.74 | | | Fair Value Gains/Losses from Financial Assets and Liabilities Held by Non-financial Enterprises, and Investment Income from their Disposal | 10,373,700.00 | | | Other Non-operating Income and Expenses | -1,972,803.49 | | | Less: Income Tax Impact | 1,839,152.21 | | | Minority Interest Impact (After Tax) | -187,482.22 | | | Total | 9,378,987.03 | -- | Changes in Key Financial Data and Indicators Net profit excluding non-recurring items decreased significantly due to lower revenue, while net operating cash flow dropped sharply from increased payments for other receivables and payables - Net profit attributable to shareholders, excluding non-recurring items, decreased by 56.88% YoY, primarily due to a decline in revenue[9] - Net cash flow from operating activities decreased by 99.29% YoY, mainly due to increased payments for other receivables and payables[9] Shareholder Information The company reports 13,721 common shareholders, with details on the top ten shareholders, related party relationships, and shares held in the repurchase account Total Common Shareholders and Top Ten Shareholder Holdings As of the period end, the company had 13,721 common shareholders, with Changzhi Fangyuan Investment Co, Ltd as the largest, and the share repurchase account holding 1% of total equity - Total number of common shareholders at the end of the reporting period: 13,721[9] | Shareholder Name | Shareholder Type | Shareholding Ratio (%) | Number of Shares Held | Number of Restricted Shares | Pledge, Mark, or Freeze Status (Status/Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | Changzhi Fangyuan Investment Co, Ltd | Domestic Non-state-owned Legal Entity | 26.58% | 53,150,000.00 | 0.00 | N/A / 0.00 | | Qin Yuezhong | Domestic Natural Person | 20.60% | 41,200,000.00 | 0.00 | Pledged / 10,000,000.00 | | Qin Dong | Domestic Natural Person | 10.00% | 20,000,000.00 | 15,000,000.00 | N/A / 0.00 | - Among the top 10 shareholders, Fangyuan Investment, Qin Yuezhong, and Qin Dong are parties acting in concert as defined by the Measures for the Administration of the Takeover of Listed Companies[10] - As of March 31, 2024, the company's share repurchase account held 2,005,044 shares, representing 1% of the total share capital[10] Other Important Matters The company completed a share repurchase program and approved a related-party transaction to purchase a new headquarters office building Share Repurchase Status The company completed its share repurchase plan on April 2, 2024, buying back 2,005,044 shares, or 1% of total equity, for a total of CNY 23.82 million - The company first repurchased shares via centralized bidding through a dedicated repurchase account on February 8, 2024[11] - As of April 2, 2024, the share repurchase plan was completed, with 2,005,044 shares actually repurchased, representing 1% of the company's total share capital[11] - The highest repurchase price was CNY 13.5 per share and the lowest was CNY 9.90 per share, with a total expenditure of CNY 23,820,153.04 (excluding transaction fees)[11] Related-Party Transactions The company approved the purchase of a headquarters office building from a related party, Changzhi Huhua Investment & Real Estate Co, Ltd, for a total price of CNY 85.90 million - The company agreed to purchase a commercial building from the related party Changzhi Huhua Investment & Real Estate Co, Ltd to serve as its headquarters[12] - The property has a construction area of 11,424.87 square meters and a total price of CNY 85,896,700.00[12] Quarterly Financial Statements This section presents the unaudited consolidated balance sheet, income statement, and cash flow statement for the first quarter of 2024 Consolidated Balance Sheet As of March 31, 2024, total assets were CNY 1.89 billion, with total liabilities at CNY 461.88 million and total equity at CNY 1.43 billion | Item | Ending Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 313,432,420.91 | 426,175,346.14 | | Trading Financial Assets | 99,214,225.00 | 90,014,625.00 | | Accounts Receivable | 232,853,602.13 | 240,042,137.48 | | Inventory | 149,282,401.50 | 139,490,577.35 | | Total Current Assets | 909,054,834.39 | 1,039,550,825.65 | | Fixed Assets | 382,306,118.70 | 287,335,259.93 | | Intangible Assets | 262,536,268.79 | 266,910,322.96 | | Total Non-current Assets | 984,115,008.41 | 904,950,336.78 | | Total Assets | 1,893,169,842.80 | 1,944,501,162.43 | | Short-term Borrowings | 5,000,000.00 | 5,005,041.67 | | Accounts Payable | 170,117,448.91 | 197,335,707.34 | | Total Current Liabilities | 390,761,354.42 | 427,365,016.48 | | Total Non-current Liabilities | 71,115,661.04 | 71,422,555.86 | | Total Liabilities | 461,877,015.46 | 498,787,572.34 | | Total Equity Attributable to Parent Company | 1,288,725,749.85 | 1,302,379,693.64 | | Total Equity | 1,431,292,827.34 | 1,445,713,590.09 | Consolidated Income Statement In Q1 2024, total operating revenue was CNY 177.92 million, a 13.64% YoY decrease, while net profit attributable to the parent company grew 28.17% to CNY 13.74 million, driven by fair value gains | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 177,923,141.56 | 206,025,983.22 | | Cost of Goods Sold | 110,780,902.29 | 122,632,346.29 | | Selling Expenses | 12,569,564.45 | 21,793,797.75 | | General & Administrative Expenses | 40,522,732.76 | 36,096,361.90 | | Research & Development Expenses | 10,688,073.56 | 10,229,373.46 | | Financial Expenses | -380,017.06 | -1,031,024.72 | | Other Income | 3,277,117.37 | 645,642.76 | | Investment Income | 432,596.21 | 215,487.69 | | Fair Value Change Gains | 10,373,700.00 | 0.00 | | Operating Profit | 14,085,610.98 | 14,070,688.00 | | Total Profit | 12,112,807.49 | 13,916,246.51 | | Income Tax Expense | 12,901.99 | 1,984,138.36 | | Net Profit | 12,099,905.50 | 11,932,108.15 | | Net Profit Attributable to Parent Company | 13,740,590.23 | 10,720,206.18 | | Minority Interest Income/Loss | -1,640,684.73 | 1,211,901.97 | | Basic Earnings Per Share | 0.0689 | 0.0536 | Consolidated Cash Flow Statement In Q1 2024, net operating cash flow was negative CNY 10.54 million, while net cash used in investing and financing activities increased due to asset acquisitions and share repurchases | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Cash Inflows from Operating Activities | 190,773,149.67 | 168,795,072.81 | | Cash Outflows from Operating Activities | 201,313,081.09 | 174,083,766.76 | | Net Cash Flow from Operating Activities | -10,539,931.42 | -5,288,693.95 | | Cash Inflows from Investing Activities | 31,543,031.83 | 56,740,276.39 | | Cash Paid for Fixed Assets, Intangible Assets, and Other Long-term Assets | 72,919,742.18 | 20,197,034.21 | | Cash Paid for Investments | 32,501,027.00 | 0.00 | | Cash Outflows from Investing Activities | 105,420,769.18 | 20,197,034.21 | | Net Cash Flow from Investing Activities | -73,877,737.35 | 36,543,242.18 | | Cash Paid for Other Financing Activities | 23,825,256.46 | 0.00 | | Net Cash Flow from Financing Activities | -23,825,256.46 | 0.00 | | Net Increase in Cash and Cash Equivalents | -108,242,925.23 | 31,254,548.23 | | Cash and Cash Equivalents at End of Period | 313,432,420.91 | 402,554,879.09 | Audit Status The company's first quarterly report for 2024 has not been audited - The company's first quarterly report is unaudited[24]