欧普照明(603515) - 2024 Q1 - 季度财报

Important Notice OPPLE Lighting Co., Ltd.'s quarterly report is guaranteed by the board of directors, supervisory board, and senior management for its truthfulness, accuracy, and completeness, explicitly stating that the first-quarter financial statements are unaudited Guarantee by the Board of Directors, Supervisory Board, Directors, Supervisors, and Senior Management The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assume legal responsibility - The company's board of directors, supervisory board, and directors, supervisors, 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 liabilities[3][4][13] Are the First-Quarter Financial Statements Audited The report explicitly states that the company's first-quarter financial statements are unaudited - The first-quarter financial statements are unaudited[5][14] I. Key Financial Data In Q1 2024, OPPLE Lighting's operating revenue and net profit attributable to shareholders both increased year-on-year, but net cash flow from operating activities significantly decreased due to increased raw material purchases, while total assets and shareholders' equity slightly declined at period-end Key Accounting Data and Financial Indicators In Q1 2024, OPPLE Lighting's operating revenue reached 1.583 billion Yuan, a 5.35% year-on-year increase, with net profit attributable to shareholders at 121 million Yuan, up 23.48%, and net profit excluding non-recurring items growing by 36.42%, while net cash flow from operating activities significantly decreased by 182.26% to -172 million Yuan Key Financial Data and Year-on-Year Changes for Q1 2024 | Item | Amount for the Current Period (Yuan) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 1,583,098,802.98 | 5.35 | | Net Profit Attributable to Shareholders of the Listed Company | 120,892,584.24 | 23.48 | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-recurring Gains and Losses | 103,312,969.64 | 36.42 | | Net Cash Flow from Operating Activities | -171,992,675.87 | -182.26 | | Basic Earnings Per Share (Yuan/share) | 0.16 | 23.08 | | Diluted Earnings Per Share (Yuan/share) | 0.16 | 23.08 | | Weighted Average Return on Net Assets (%) | 1.80 | Increased by 0.2 percentage points | Balance Sheet Data and Changes from End of Previous Year for Q1 2024 | Item | Amount at the End of the Current Period (Yuan) | Amount at the End of the Previous Year (Yuan) | Change from the End of the Previous Year (%) | | :--- | :--- | :--- | | Total Assets | 9,388,890,488.03 | 9,877,441,744.50 | -4.95 | | Shareholders' Equity Attributable to Shareholders of the Listed Company | 6,614,576,837.16 | 6,648,896,823.59 | -0.52 | Non-recurring Gains and Losses Items In Q1 2024, OPPLE Lighting's total non-recurring gains and losses amounted to 17.58 million Yuan, primarily comprising government grants, fair value changes of financial assets and liabilities, and other non-operating income and expenses Non-recurring Gains and Losses Items for Q1 2024 | Non-recurring Gains and Losses Item | Amount for the Current Period (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -130,836.64 | | Government Grants Recognized in Current Profit and Loss | 12,795,960.02 | | Gains and Losses from Changes in Fair Value of Financial Assets and Liabilities Held by Non-financial Enterprises, and Gains and Losses from Disposal of Financial Assets and Liabilities | 5,793,551.03 | | Other Non-operating Income and Expenses Apart from the Above | 2,221,034.62 | | Other Gain and Loss Items Meeting the Definition of Non-recurring Gains and Losses | 754,201.84 | | Less: Income Tax Impact | -3,767,994.88 | | Impact on Minority Shareholders' Equity (After Tax) | -86,301.39 | | Total | 17,579,614.60 | Analysis of Key Financial Indicator Changes Net profit attributable to shareholders excluding non-recurring gains and losses increased by 36.42% year-on-year, driven by higher revenue and improved gross margin, while net cash flow from operating activities decreased by 182.26% due to increased payments for raw material purchases - Net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, increased by 36.42% year-on-year, primarily due to increased revenue and higher gross margin in the current period[17] - Net cash flow from operating activities decreased by 182.26% year-on-year, primarily due to increased payments for raw material purchases in the current period[17] II. Shareholder Information As of Q1 2024, the company had 16,987 common shareholders, with Zhongshan OPPLE Investment Co., Ltd., Mr. Wang Yaohai, Ms. Ma Xiuhui, Shanghai Fengyue, and Nantong Songyue identified as parties acting in concert Total Number of Common Shareholders and Top Ten Shareholders' Holdings At the end of the reporting period, the company had 16,987 common shareholders, with Zhongshan OPPLE Investment Co., Ltd. holding the largest stake at 46.65%, while the company's share repurchase account held 10,429,114 shares but was not listed among the top ten shareholders - The total number of common shareholders at the end of the reporting period was 16,987 households[7] Top 10 Shareholders' Holdings at the End of the Reporting Period | Shareholder Name | Shareholder Type | Number of Shares Held | Shareholding Percentage (%) | Number of Restricted Shares Held | Share Status | Pledged, Marked, or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhongshan OPPLE Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 348,214,286 | 46.65 | 0 | Pledged | 60,730,000 | | Wang Yaohai | Domestic Natural Person | 122,054,994 | 16.35 | 0 | None | 0 | | Ma Xiuhui | Domestic Natural Person | 118,624,956 | 15.89 | 0 | Pledged | 37,860,000 | | Hong Kong Securities Clearing Company Limited | Other | 28,988,774 | 3.88 | 0 | None | 0 | | Shanghai Fengyue Enterprise Management Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 22,517,900 | 3.02 | 0 | None | 0 | | Nantong Songyue Enterprise Management Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 14,560,000 | 1.95 | 0 | None | 0 | | Lv Biwen | Domestic Natural Person | 1,458,000 | 0.2 | 0 | None | 0 | | Bank of China Co., Ltd. - China Merchants Quantitative Selection Stock Initiated Securities Investment Fund | Other | 1,252,100 | 0.17 | 0 | None | 0 | | Dajia Asset - Minsheng Bank - Dajia Asset - Shengshi Jingxuan No. 2 Collective Asset Management Product (Phase II) | Other | 1,185,437 | 0.16 | 0 | None | 0 | | Ma Zhongyue | Domestic Natural Person | 853,818 | 0.11 | 0 | None | 0 | - The company's dedicated share repurchase account held 10,429,114 shares, ranking seventh on the company's shareholder list as of March 29, 2024, but is not listed as one of the top ten shareholders according to relevant regulations[32] Explanation of Shareholder Related Party Relationships or Concerted Actions Zhongshan OPPLE Investment Co., Ltd., Mr. Wang Yaohai, Ms. Ma Xiuhui, Shanghai Fengyue, and Nantong Songyue are identified as parties acting in concert, with no other known related party relationships or concerted actions among other shareholders - Zhongshan OPPLE Investment Co., Ltd., Mr. Wang Yaohai, Ms. Ma Xiuhui, Shanghai Fengyue, and Nantong Songyue are parties acting in concert[9] - The company is unaware of any other related party relationships or concerted actions among the aforementioned shareholders as defined by the "Measures for the Administration of the Takeover of Listed Companies"[9] III. Other Reminders During the reporting period, the company had no other significant operational information requiring investor attention and did not disclose an audit opinion type, indicating the quarterly report was unaudited Type of Audit Opinion The report explicitly states that the type of audit opinion is not applicable for this quarterly report, consistent with the earlier declaration that the first-quarter financial statements were unaudited - The type of audit opinion is not applicable[33] IV. Quarterly Financial Statements This section presents OPPLE Lighting Co., Ltd.'s consolidated balance sheet, income statement, and cash flow statement for Q1 2024, comprehensively reflecting the company's financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet As of March 31, 2024, the company's total assets were 9.389 billion Yuan, a 4.95% decrease from the end of the previous year, with total current assets at 6.630 billion Yuan, total non-current assets at 2.759 billion Yuan, total liabilities at 2.760 billion Yuan, and total shareholders' equity at 6.629 billion Yuan Key Data from Consolidated Balance Sheet (As of March 31, 2024) | Item | March 31, 2024 (Yuan) | December 31, 2023 (Yuan) | | :--- | :--- | :--- | | Assets | | | | Cash and Cash Equivalents | 5,004,721,728.27 | 4,552,155,492.10 | | Financial Assets Held for Trading | 384,256,382.10 | 281,729,844.64 | | Accounts Receivable | 551,030,684.06 | 634,453,166.85 | | Inventories | 547,657,970.86 | 572,696,355.76 | | Total Current Assets | 6,629,654,910.27 | 7,129,455,015.27 | | Fixed Assets | 1,349,837,784.26 | 1,363,035,019.23 | | Intangible Assets | 389,265,807.86 | 348,383,507.71 | | Total Non-current Assets | 2,759,235,577.76 | 2,747,986,729.23 | | Total Assets | 9,388,890,488.03 | 9,877,441,744.50 | | Liabilities | | | | Short-term Borrowings | 156,351,916.32 | 153,582,499.94 | | Accounts Payable | 763,911,831.90 | 972,627,430.06 | | Contract Liabilities | 174,664,732.78 | 147,468,576.69 | | Total Current Liabilities | 2,683,503,578.74 | 3,137,934,231.47 | | Total Non-current Liabilities | 76,594,104.05 | 76,858,346.65 | | Total Liabilities | 2,760,097,682.79 | 3,214,792,578.12 | | Shareholders' Equity | | | | Total Shareholders' Equity Attributable to Parent Company | 6,614,576,837.16 | 6,648,896,823.59 | | Total Shareholders' Equity | 6,628,792,805.24 | 6,662,649,166.38 | Consolidated Income Statement In Q1 2024, the company achieved total operating revenue of 1.583 billion Yuan, a 5.35% year-on-year increase, with operating profit at 142 million Yuan, up 14.69%, net profit at 121 million Yuan, up 24.48%, and basic earnings per share at 0.16 Yuan, up 23.08%, while R&D expenses decreased and other income significantly increased Key Data from Consolidated Income Statement (Q1 2024) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1,583,098,802.98 | 1,502,727,365.51 | | Total Operating Costs | 1,441,243,741.38 | 1,386,524,791.29 | | Operating Profit | 142,459,717.50 | 124,204,210.97 | | Total Profit | 144,429,802.03 | 127,421,498.00 | | Net Profit | 121,269,251.91 | 97,426,561.91 | | Net Profit Attributable to Shareholders of the Parent Company | 120,892,584.24 | 97,906,685.54 | | Basic Earnings Per Share (Yuan/share) | 0.16 | 0.13 | | Diluted Earnings Per Share (Yuan/share) | 0.16 | 0.13 | - Research and development expenses decreased by 20.65% year-on-year to 83,368,446.44 Yuan[39] - Other income increased by 112.14% year-on-year to 13,550,161.86 Yuan[39] Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities was -172 million Yuan, a significant 182.26% year-on-year decrease due to increased payments for goods and services, while net cash flow from investing activities was -156 million Yuan, a sharp decline from 1.789 billion Yuan in the prior year due to significantly reduced cash received from investments, and net cash flow from financing activities was -161 million Yuan, with cash and cash equivalents at period-end totaling 4.998 billion Yuan Key Data from Consolidated Cash Flow Statement (Q1 2024) | Item | Q1 2024 (Yuan) | Q1 2023 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -171,992,675.87 | 209,088,820.33 | | Net Cash Flow from Investing Activities | -155,886,798.98 | 1,788,873,104.66 | | Net Cash Flow from Financing Activities | -160,809,289.69 | -2,242,536.42 | | Net Increase in Cash and Cash Equivalents | -489,303,008.06 | 1,991,496,939.27 | | Cash and Cash Equivalents at End of Period | 4,997,762,532.88 | 3,561,059,166.54 | - Net cash flow from operating activities significantly decreased by 182.26%, primarily due to increased cash payments for goods and services[17][27] - Subtotal cash inflow from investing activities significantly decreased from 3.291 billion Yuan in the prior year to 96 million Yuan, primarily due to a substantial reduction in cash received from investments[27] Adjustments to Financial Statements at the Beginning of the First Year of Implementation Due to Initial Adoption of New Accounting Standards or Interpretations During the reporting period, the company did not adjust its financial statements at the beginning of the first year of implementation due to the initial adoption of new accounting standards or interpretations - The company did not adjust its financial statements at the beginning of the first year of implementation due to the initial adoption of new accounting standards or interpretations[28]