华懋科技(603306) - 2024 Q1 - 季度财报

Important Notice This section confirms the responsibility of the company's management for the truthfulness, accuracy, and completeness of the quarterly report, and notes that the financial statements are unaudited - The company's board of directors, supervisory board, and directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, free from false records, misleading statements, or major omissions, and assume individual and joint legal liabilities[2] - The company's responsible person, the person in charge of accounting work, and the head of the accounting department (accounting supervisor) guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] - This quarterly financial statement is unaudited[4] I. Major Financial Data This section presents a comprehensive overview of the company's key financial performance and position for the first quarter, highlighting significant changes in revenue, net profit, and cash flow 1. Major Accounting Data and Financial Indicators Huamao Technology's Q1 2024 financial performance was strong, with operating revenue up 11.81%, net profit attributable to shareholders surging 87.76%, and net cash flow from operating activities soaring 345.91%, while total assets and equity slightly decreased | Item | Current Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 469,285,488.68 | 11.81 | | Net Profit Attributable to Shareholders of Listed Company | 53,900,315.60 | 87.76 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 50,423,988.28 | 109.11 | | Net Cash Flow from Operating Activities | 137,459,966.96 | 345.91 | | Basic Earnings Per Share (RMB/share) | 0.179 | 98.89 | | Diluted Earnings Per Share (RMB/share) | 0.178 | 97.78 | | Weighted Average Return on Net Assets (%) | 1.59 | 0.68 (percentage points) | | Item | End of Current Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-end (%) | | Total Assets | 4,872,063,214.03 | 5,083,536,482.34 | -4.16 | | Total Equity Attributable to Shareholders of Listed Company | 3,604,541,326.15 | 3,670,375,873.12 | -1.79 | 2. Non-recurring Gains and Losses Items and Amounts The company's Q1 2024 non-recurring gains and losses totaled 3.476 million RMB, primarily from government subsidies and fair value changes in financial assets, partially offset by non-current asset disposal losses and income tax effects | Non-recurring Gains and Losses Item | Current Period Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -4,282,514.00 | | Government Subsidies Included in Current Period Profit/Loss | 8,039,840.37 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | 908,595.37 | | Other Non-operating Income and Expenses Apart from the Above | 3,000.00 | | Less: Income Tax Impact | 1,192,651.18 | | Impact on Minority Interests (After Tax) | -56.76 | | Total | 3,476,327.32 | 3. Changes and Reasons for Major Accounting Data and Financial Indicators Significant growth in net profit and operating cash flow is attributed to increased revenue from a recovering automotive market, improved gross margin from lean management and product mix adjustments, stable raw material prices, and reduced share-based payment expenses - Net profit attributable to shareholders of the listed company increased by 87.76% year-on-year, and net profit attributable to shareholders of the listed company (excluding non-recurring gains/losses) increased by 109.11% year-on-year, primarily due to: 1. Stable and improving domestic and export trends in the automotive market, leading to an 11.81% year-on-year increase in operating revenue. 2. The company's gross margin increased by approximately 3 percentage points compared to the same period last year, benefiting from lean management, product structure adjustments, and stable raw material prices. 3. The company's share-based payment expenses decreased year-on-year in the current period, resulting in a decrease in management expenses compared to the same period last year[8] - Net cash flow from operating activities increased by 345.91% year-on-year, mainly due to increased sales collection in the current reporting period[8] - Basic earnings per share (RMB/share) and diluted earnings per share (RMB/share) increased by 98.89% and 97.78% respectively, primarily due to the increase in net profit in the current reporting period[8] II. Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the holdings of the top ten shareholders as of the end of the first quarter 1. Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of Q1 2024, the company had 30,660 common shareholders; among the top ten, Dongyang Huasheng Enterprise Management Partnership (Limited Partnership) held the largest stake, with some shareholders having pledged shares - The total number of common shareholders at the end of the reporting period was 30,660[10] | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Holding Ratio (%) | Pledged, Marked, or Frozen Status (Number of shares) | | :--- | :--- | :--- | :--- | :--- | | Dongyang Huasheng Enterprise Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 49,228,260 | 15.10 | 0 (None) | | Zhang Chuquan | Domestic Natural Person | 18,579,700 | 5.70 | 0 (None) | | Ningbo Xindian Jishi Investment Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 12,629,874 | 3.87 | 6,234,413 (Pledged) | | Huamao (Xiamen) New Material Technology Co., Ltd. Repurchase Special Securities Account | Other | 11,859,594 | 3.64 | 0 (None) | | Dongyang Maosheng Enterprise Management Consulting Co., Ltd. | Domestic Non-state-owned Legal Person | 10,749,400 | 3.30 | 0 (None) | | Lin Weibin | Domestic Natural Person | 4,884,524 | 1.50 | 700,000 (Pledged) | | Shanghai Pudong Development Bank Co., Ltd. - Invesco Great Wall New Energy Industry Stock Fund | Domestic Non-state-owned Legal Person | 4,866,261 | 1.49 | 0 (None) | | Chen Lifeng | Domestic Natural Person | 4,255,696 | 1.31 | 0 (None) | | Guo Mingyun | Domestic Natural Person | 3,339,317 | 1.02 | 0 (None) | | Hong Kong Securities Clearing Company Limited | Unknown | 3,272,397 | 1.00 | 0 (None) | - Zhang Chuquan serves as the chairman of Dongyang Maosheng Enterprise Management Consulting Co., Ltd., indicating an associated relationship[11] III. Other Reminders This section confirms that there are no other significant operational matters requiring investor attention during the reporting period - There is no other important information regarding the company's operating situation during the reporting period that needs to be brought to investors' attention[12] IV. Quarterly Financial Statements This section presents the company's unaudited consolidated financial statements for the first quarter of 2024, including the balance sheet, income statement, and cash flow statement 1. Type of Audit Opinion The financial statements for this quarter are unaudited - This quarterly financial statement is unaudited[13] 2. Financial Statements This section details Huamao Technology's consolidated balance sheet, income statement, and cash flow statement for Q1 2024, comprehensively reflecting the company's financial position, operating results, and cash flow changes for the period Consolidated Balance Sheet | Item | March 31, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,355,328,840.87 | 1,480,518,083.13 | -8.46 | | Financial Assets Held for Trading | 85,609,774.19 | 32,361,007.96 | 164.56 | | Notes Receivable | 70,409,967.36 | 103,097,246.71 | -31.71 | | Accounts Receivable | 515,516,915.59 | 614,438,827.00 | -16.10 | | Receivables Financing | 287,917,271.59 | 330,215,960.60 | -12.81 | | Inventories | 263,855,319.34 | 274,962,514.97 | -4.04 | | Total Current Assets | 2,724,955,458.43 | 2,978,992,795.35 | -8.53 | | Long-term Equity Investments | 847,265,342.28 | 861,453,349.03 | -1.65 | | Fixed Assets | 700,289,687.79 | 670,789,869.03 | 4.39 | | Construction in Progress | 113,380,622.17 | 86,741,287.34 | 30.71 | | Total Non-current Assets | 2,147,107,755.60 | 2,104,543,686.99 | 2.02 | | Total Assets | 4,872,063,214.03 | 5,083,536,482.34 | -4.16 | | Accounts Payable | 159,976,536.71 | 227,721,174.52 | -29.75 | | Employee Benefits Payable | 40,772,968.21 | 109,912,081.14 | -62.90 | | Taxes Payable | 15,002,290.78 | 32,910,629.17 | -54.42 | | Total Current Liabilities | 242,385,217.48 | 399,211,730.48 | -39.28 | | Bonds Payable | 798,406,171.43 | 786,246,373.16 | 1.55 | | Total Non-current Liabilities | 888,130,246.29 | 874,597,240.99 | 1.55 | | Total Liabilities | 1,130,515,463.77 | 1,273,808,971.47 | -11.39 | | Total Equity Attributable to Parent Company Shareholders | 3,604,541,326.15 | 3,670,375,873.12 | -1.79 | | Total Equity | 3,741,547,750.26 | 3,809,727,510.87 | -1.79 | Consolidated Income Statement | Item | Q1 2024 (RMB) | Q1 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 469,285,488.68 | 419,719,812.77 | 11.81 | | Operating Cost | 325,488,905.34 | 306,890,370.47 | 6.06 | | Taxes and Surcharges | 2,624,939.81 | 2,379,661.99 | 10.31 | | Selling Expenses | 4,371,677.47 | 4,296,421.24 | 1.75 | | Administrative Expenses | 40,913,225.16 | 49,237,942.11 | -16.91 | | R&D Expenses | 21,289,213.13 | 21,390,195.29 | -0.47 | | Financial Expenses | 2,245,742.59 | -1,527,644.67 | N/A | | Other Income | 8,039,840.37 | 4,540,349.77 | 77.08 | | Investment Income (Losses indicated by "-") | -14,385,333.07 | -7,941,801.26 | -81.14 | | Gains/Losses from Fair Value Changes (Losses indicated by "-") | -147,062.06 | -94,358.45 | -55.88 | | Credit Impairment Losses (Losses indicated by "-") | 6,802,024.76 | 4,779,059.17 | 42.32 | | Asset Impairment Losses (Losses indicated by "-") | -4,146,017.79 | -3,567,830.27 | -16.10 | | Gains/Losses on Disposal of Assets (Losses indicated by "-") | -4,282,514.00 | 7,747.57 | N/A | | Operating Profit | 64,232,723.39 | 34,776,032.87 | 84.72 | | Total Profit | 64,235,153.39 | 34,925,098.52 | 83.93 | | Income Tax Expense | 12,700,378.50 | 9,636,481.81 | 31.80 | | Net Profit | 51,534,774.89 | 25,288,616.71 | 103.79 | | Net Profit Attributable to Parent Company Shareholders | 53,900,315.60 | 28,706,767.44 | 87.76 | | Minority Interests | -2,365,540.71 | -3,418,150.73 | 30.79 | | Basic Earnings Per Share (RMB/share) | 0.179 | 0.09 | 98.89 | | Diluted Earnings Per Share (RMB/share) | 0.178 | 0.09 | 97.78 | Consolidated Cash Flow Statement | Item | Q1 2024 (RMB) | Q1 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 625,600,711.48 | 469,976,764.29 | 33.11 | | Cash Received Relating to Other Operating Activities | 26,337,324.07 | 22,470,834.93 | 17.21 | | Subtotal of Cash Inflows from Operating Activities | 652,990,462.06 | 492,447,599.22 | 32.61 | | Cash Paid for Goods and Services | 270,454,738.05 | 255,176,952.70 | 6.00 | | Cash Paid to and for Employees | 179,914,273.64 | 154,170,722.60 | 16.69 | | Cash Paid for Taxes and Levies | 41,432,535.63 | 28,657,895.79 | 44.57 | | Subtotal of Cash Outflows from Operating Activities | 515,530,495.10 | 461,621,098.52 | 11.68 | | Net Cash Flow from Operating Activities | 137,459,966.96 | 30,826,500.70 | 345.91 | | Cash Received from Disposal of Investments | 75,169,829.14 | 53,444,151.53 | 40.65 | | Subtotal of Cash Inflows from Investing Activities | 75,407,439.76 | 53,444,151.53 | 41.09 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-term Assets | 89,957,603.96 | 78,523,891.98 | 14.56 | | Cash Paid for Investments | 127,500,000.00 | 63,500,000.00 | 100.79 | | Subtotal of Cash Outflows from Investing Activities | 217,457,603.96 | 142,023,891.98 | 53.11 | | Net Cash Flow from Investing Activities | -142,050,164.20 | -88,579,740.45 | -60.36 | | Cash Paid for Dividends, Profits, or Interest Payments | 170,191.24 | 68,491.24 | 148.48 | | Cash Paid Relating to Other Financing Activities | 120,508,521.90 | 128,512.77 | 93669.00 | | Subtotal of Cash Outflows from Financing Activities | 120,678,713.14 | 197,004.01 | 61259.59 | | Net Cash Flow from Financing Activities | -120,678,713.14 | -197,004.01 | -61259.59 | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | 79,668.12 | -729,142.50 | N/A | | Net Increase in Cash and Cash Equivalents | -125,189,242.26 | -58,679,386.26 | -113.37 | | Cash and Cash Equivalents at End of Period | 1,355,328,840.87 | 691,951,029.49 | 95.88 | 3. Adjustments to Financial Statements at the Beginning of the First Year of Implementation of New Accounting Standards or Interpretations from 2024 The company confirms that the initial adoption of new accounting standards or interpretations from 2024 did not require adjustments to the financial statements at the beginning of the first year of implementation - The company confirms that the initial adoption of new accounting standards or interpretations from 2024 did not require adjustments to the financial statements at the beginning of the first year of implementation[22]