新赛股份(600540) - 2024 Q1 - 季度财报

Key Financial Data This section details the company's core financial performance, analyzes non-recurring gains and losses, and explains the reasons for significant changes in key financial indicators Core Accounting Data and Financial Indicators The company reported RMB 295 million in Q1 2024 operating revenue and RMB 4.38 million in net profit, with strong operating cash flow growth and a 4.16% increase in total assets | Indicator | Current Period | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | RMB 294.85 million | 24.13% | | Net Profit Attributable to Shareholders | RMB 4.38 million | 50.01% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | RMB -13.87 million | Not Applicable | | Net Cash Flow from Operating Activities | RMB 387.46 million | 94.37% | | Basic Earnings Per Share (RMB/share) | 0.0075 | 50.00% | | Weighted Average Return on Net Assets (%) | 0.5981% | Increased by 0.2285 percentage points | | Indicator | Period-End | Change from Previous Year-End (%) | | Total Assets | RMB 3.19 billion | 4.16% | | Owners' Equity Attributable to Shareholders | RMB 733.71 million | 0.60% | Non-Recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled RMB 18.24 million, with futures trading income of RMB 18.57 million from Xinsai Cotton Industry being the key driver of reported profitability | Non-Recurring Gain/Loss Item | Current Period Amount (RMB) | Explanation | | :--- | :--- | :--- | | Fair Value Change Gains/Losses from Financial Assets and Liabilities Held by Non-Financial Enterprises | 18,565,658.52 | Xinsai Cotton Industry futures trading income | | Government Grants Included in Current Profit/Loss | 242,683.53 | Deferred income transferred from multiple subsidiaries | | Other Non-Operating Income and Expenses | -1,851,526.03 | Primarily environmental fines | | Non-Current Asset Disposal Gains/Losses | -6,327.43 | Loss from disposal of fixed assets by Xinsai Fine Spinning | | Total | 18,243,196.14 | / | - After deducting non-recurring gains and losses, the net profit attributable to shareholders was RMB -13.87 million, indicating the core business remains in a loss-making state[4] Changes and Reasons for Key Accounting Data and Financial Indicators Key financial indicators improved due to increased cottonseed product sales, reversal of credit impairment losses, higher cotton futures investment income, and better cash management from sales and reduced expenses | Project Name | Change Ratio (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | 24.13 | Increased sales of cottonseed products, and new products (cottonseed protein, oil, hulls) from Xinsai Bio-protein achieved sales | | Net Profit Attributable to Shareholders | 50.01 | Xinsai Cotton Industry recovered receivables, reversing credit impairment losses; increased cotton futures investment income; reduced taxes and surcharges | | Net Cash Flow from Operating Activities | 94.37 | Increased cash received from sales; decreased cash paid for purchases; reduced various taxes and fees paid | Shareholder Information This section outlines the company's shareholder structure, including the total number of common shareholders and the holdings of its top ten shareholders Total Common Shareholders, Voting Rights Restored Preferred Shareholders, and Top Ten Shareholder Holdings The company has 32,881 common shareholders, with the top four, including the controlling shareholder Zhongxinjian Logistics Group, being state-backed entities holding a concentrated stake - As of the end of the reporting period, the total number of common shareholders was 32,881[10] | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | | :--- | :--- | :--- | | Zhongxinjian Logistics Group Co., Ltd. | State-owned Legal Entity | 29.16% | | Zhongxinjian Poplar Private Equity Fund... | Other | 7.83% | | Jingshi Futures - Xinjiang Production and Construction Corps... | Other | 6.79% | | Xinjiang Aibihu Investment Co., Ltd. | State-owned Legal Entity | 5.00% | - The company's controlling shareholder, Zhongxinjian Logistics Group, has no affiliation or concerted action with the former controlling shareholder, Xinjiang Aibihu Investment Co., Ltd., or other top ten shareholders[11] Quarterly Financial Statements This section presents the company's unaudited quarterly financial statements, including the consolidated balance sheet, income statement, and cash flow statement, along with any accounting standard changes Type of Audit Opinion The company's financial statements for the first quarter of 2024 are unaudited - The first quarter financial statements are unaudited[3][12] Financial Statements Financial statements indicate slight asset and liability growth, revenue and net profit increases driven by non-recurring gains, and strong operating cash flow performance Consolidated Balance Sheet As of March 31, 2024, total assets reached RMB 3.19 billion (up 4.16%) and total liabilities RMB 2.43 billion (up 5.36%), with a 76.00% asset-liability ratio | Project | March 31, 2024 (RMB) | December 31, 2023 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,108,040,614.19 | 871,706,592.10 | 27.11% | | Inventories | 729,276,699.00 | 847,659,911.10 | -13.97% | | Total Assets | 3,192,499,240.48 | 3,064,983,333.46 | 4.16% | | Short-Term Borrowings | 1,736,140,000.00 | 1,750,537,044.97 | -0.82% | | Contract Liabilities | 252,967,625.58 | 85,462,884.85 | 196.00% | | Total Liabilities | 2,426,155,335.88 | 2,302,641,571.91 | 5.36% | | Total Owners' Equity Attributable to Parent Company | 733,712,464.52 | 729,336,935.28 | 0.60% | Consolidated Income Statement Q1 2024 saw total operating revenue of RMB 295 million (up 24.13%) and net profit of RMB 4.38 million (up 50.01%), largely driven by fair value gains from futures investments and credit impairment loss reversals | Project | Q1 2024 (RMB) | Q1 2023 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 294,850,450.07 | 237,533,272.22 | 24.13% | | Operating Cost | 289,717,560.97 | 223,363,629.27 | 29.71% | | Fair Value Change Gains | 21,896,577.52 | 5,586,606.61 | 292.01% | | Credit Impairment Losses | 3,051,745.67 | -778,636.84 | Not Applicable | | Operating Profit | 5,853,669.08 | 3,231,183.52 | 81.16% | | Net Profit Attributable to Parent Company Shareholders | 4,375,529.24 | 2,916,811.37 | 50.01% | | Basic Earnings Per Share (RMB/share) | 0.0075 | 0.0050 | 50.00% | Consolidated Cash Flow Statement Net operating cash flow surged to RMB 387.46 million (up 94.37%) driven by increased sales collections and reduced purchases, while investing and financing activities resulted in net outflows | Project | Q1 2024 (RMB) | Q1 2023 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 387,456,080.48 | 199,341,135.96 | 94.37% | | Net Cash Flow from Investing Activities | -32,355,627.17 | -21,288,874.29 | -52.00% | | Net Cash Flow from Financing Activities | -29,051,466.82 | -87,535,611.55 | 66.81% | | Net Increase in Cash and Cash Equivalents | 326,048,986.49 | 90,516,650.12 | 260.20% | Impact of First-Time Adoption of New Accounting Standards or Interpretations from 2024 Requiring Adjustment to Opening Financial Statements The company has not adopted new accounting standards or interpretations requiring adjustments to the opening financial statements since 2024 - In Q1 2024, the company did not adjust its opening financial statements due to the adoption of new accounting standards[27]