凤凰光学(600071) - 2024 Q1 - 季度财报

Report Overview Important Notice The company's board and management affirm the quarterly report's accuracy and completeness, noting the financial statements are unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions[3] - The company's principal officer, head of accounting, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[4] - The first quarter financial statements are unaudited[5] Key Financial Data and Indicators This section outlines Phoenix Optics' Q1 2024 key financial performance, including an 8.65% increase in operating revenue, a net loss of CNY 22.42 million attributable to shareholders, and a decrease in total assets and shareholders' equity compared to year-end Key Accounting Data and Financial Indicators The company's Q1 2024 operating revenue grew 8.65% to CNY 395 million, but net profit and non-recurring net profit were negative at CNY -22.42 million and CNY -23.65 million, respectively, with slight decreases in operating cash flow, total assets, and equity attributable to parent company shareholders compared to year-end Q1 2024 Key Accounting Data and Financial Indicators | 项目 | 本报告期 (CNY) | 本报告期比上年同期增减变动幅度 (%) | | :--- | :--- | :--- | | Operating Revenue | 394,747,818.37 | 8.65 | | Net Profit Attributable to Shareholders of Listed Company | -22,421,290.61 | N/A | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -23,647,494.27 | N/A | | Net Cash Flow from Operating Activities | 24,359,155.50 | -2.69 | | Basic Earnings Per Share (CNY/share) | -0.08 | N/A | | Diluted Earnings Per Share (CNY/share) | -0.08 | N/A | | Weighted Average Return on Net Assets (%) | -5.26 | N/A | | 项目 | 本报告期末 (CNY) | 上年度末 (CNY) | 本报告期末比上年度末增减变动幅度 (%) | | Total Assets | 1,783,226,654.61 | 1,946,140,490.03 | -8.37 | | Shareholders' Equity Attributable to Shareholders of Listed Company | 415,270,748.78 | 437,750,241.65 | -5.14 | - The company's Q1 net profit attributable to shareholders of the listed company was a loss of CNY 22,421,290.61[6] Non-recurring Gains and Losses Items and Amounts This quarter's total non-recurring gains and losses amounted to CNY 1.2262 million, primarily from disposal of non-current assets, government grants, and other non-operating income Q1 2024 Non-recurring Gains and Losses Items and Amounts | 非经常性损益项目 | 本期金额 (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 159,313.30 | | Government Grants Included in Current Profit/Loss | 806,888.55 | | Reversal of Impairment Provisions for Receivables Subject to Separate Impairment Testing | 35,529.50 | | Other Non-operating Income and Expenses Apart from the Above | 410,810.32 | | Less: Impact on Minority Interests (After Tax) | 186,338.01 | | Total | 1,226,203.66 | - Total non-recurring gains and losses for the current period amounted to CNY 1,226,203.66[8] Changes and Reasons for Key Accounting Data and Financial Indicators Several financial indicators showed significant changes this quarter, with notes receivable decreasing by 64.25% due to endorsement and settlement, taxes payable increasing by 136% due to higher revenue, R&D expenses rising by 35.34%, and other income declining by 59.78% due to reduced government grants - Notes receivable decreased by 64.25%, primarily due to endorsement and settlement of notes receivable[8] - Other receivables increased by 44.49%, mainly due to an increase in intercompany balances[8] - Taxes payable increased by 136.00%, primarily due to increased revenue and value-added tax payable in the current period[8] - R&D expenses increased by 35.34%, mainly due to an increase in R&D personnel and other R&D investments compared to the same period last year[8] - Other income decreased by 59.78%, primarily due to a reduction in government grants received in the current period[9] - Income tax expense increased by 11,210.00%, mainly due to subsidiaries recognizing deferred income tax expenses[9] - Subtotal cash inflow from financing activities increased by 683.00%, mainly due to increased borrowings by subsidiaries compared to the same period last year[9] Shareholder Information Total Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 28,557 common shareholders, with China Electronics Technology Group Corporation (CETC) Haikang Group Co., Ltd. being the largest shareholder at 47.16%, and having an affiliation with CETC Investment Holdings Co., Ltd - The total number of common shareholders at the end of the reporting period was 28,557[11] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | | :--- | :--- | :--- | :--- | | CETC Haikang Group Co., Ltd. | State-owned Legal Person | 132,790,648 | 47.16 | | CETC Investment Holdings Co., Ltd. | State-owned Legal Person | 6,012,480 | 2.14 | | Hong Kong Securities Clearing Company Limited | Unknown | 2,696,987 | 0.96 | | Sun Chengyuan | Domestic Natural Person | 1,457,700 | 0.52 | | Zhou Zhenlong | Domestic Natural Person | 1,450,000 | 0.51 | | Shenzhen Jinchao Investment Co., Ltd. - Jinchao Yutian Growth No. 5 Private Securities Investment Fund | Unknown | 1,425,199 | 0.51 | | Wu Hongguang | Domestic Natural Person | 1,370,000 | 0.49 | | Cai Guoan | Domestic Natural Person | 1,259,443 | 0.45 | | Li Linjie | Domestic Natural Person | 1,216,000 | 0.43 | | Liang Xiaoju | Domestic Natural Person | 1,067,100 | 0.38 | - CETC Haikang Group Co., Ltd. has an affiliation with CETC Investment Holdings Co., Ltd[12] Financial Statements Consolidated Balance Sheet As of March 31, 2024, the company's total assets were CNY 1.783 billion, a 8.37% decrease from year-end 2023, with both current assets and liabilities declining, notably in cash and notes receivable, while long-term borrowings increased - As of March 31, 2024, the company's total assets were CNY 1,783,226,654.61, a 8.37% decrease from the end of the prior year[7][16] - Cash and cash equivalents decreased from CNY 245,221,861.67 at year-end 2023 to CNY 202,981,547.52[15] - Notes receivable decreased from CNY 61,404,873.65 at year-end 2023 to CNY 21,949,282.36[15] - Short-term borrowings decreased from CNY 450,271,241.66 at year-end 2023 to CNY 404,219,326.40[16] - Long-term borrowings increased from CNY 253,580,000.00 at year-end 2023 to CNY 281,578,332.42[16] Consolidated Income Statement In Q1 2024, the company's total operating revenue grew 8.65% to CNY 395 million; while operating profit and net profit losses narrowed year-over-year, net profit attributable to parent company shareholders' loss expanded, and R&D expenses significantly increased - Total operating revenue for Q1 2024 was CNY 394,747,818.37, an 8.65% increase from CNY 363,337,146.08 in Q1 2023[21] - Operating profit was CNY -18,999,344.17, with the loss narrowing compared to CNY -24,596,411.21 in the same period last year[21] - Net profit was CNY -22,484,381.93, with the loss narrowing compared to CNY -24,528,415.13 in the same period last year[22] - Net profit attributable to parent company shareholders was CNY -22,421,290.61, with the loss expanding compared to CNY -21,308,415.03 in the same period last year[22] - R&D expenses were CNY 34,104,386.09, a 35.34% increase from CNY 25,198,820.40 in the same period last year[21][8] Consolidated Cash Flow Statement In Q1 2024, net cash flow from operating activities slightly decreased, cash outflow from investing activities significantly reduced, while cash outflow from financing activities expanded due to increased debt repayment and other financing-related payments, resulting in a year-over-year decrease in cash and cash equivalents at period-end - Net cash flow from operating activities was CNY 24,359,155.50, a slight decrease from CNY 25,033,787.00 in the same period last year[25] - Net cash flow from investing activities was CNY -17,713,878.31, with cash outflow significantly reduced compared to CNY -64,404,042.52 in the same period last year[26] - Net cash flow from financing activities was CNY -44,271,970.98, with cash outflow expanding compared to CNY -27,302,194.28 in the same period last year[26] - Cash and cash equivalents at period-end were CNY 183,948,092.83, a decrease from CNY 241,400,772.87 in the same period last year[26] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was CNY 18,257,410.91, a significant decrease from CNY 64,404,042.52 in the same period last year[26] - Cash received from borrowings was CNY 39,150,000.00, a substantial increase from CNY 5,000,000.00 in the same period last year[26]