北化股份(002246) - 2024 Q1 - 季度财报

Major Financial Data Key Accounting Data and Financial Indicators In Q1 2024, the company's performance significantly declined, with operating revenue decreasing by 23.91% year-over-year and net profit attributable to shareholders turning to a loss of RMB 11.12 million, a 225.30% year-over-year decrease, resulting in negative basic earnings per share Key Financial Indicators for Q1 2024 | Indicator | Current Period | Prior Period | Year-over-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 296,775,535.84 | 390,049,022.31 | -23.91% | | Net Profit Attributable to Shareholders (RMB) | -11,121,640.79 | 8,876,276.93 | -225.30% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | -19,876,717.59 | 5,757,075.24 | -445.26% | | Net Cash Flow from Operating Activities (RMB) | -122,758,539.61 | -184,903,799.33 | 33.61% | | Basic Earnings Per Share (RMB/share) | -0.0203 | 0.0162 | -225.31% | | Total Assets (RMB) | 4,460,711,983.41 | 4,569,355,945.79 | -2.38% (vs. end of prior year) | | Shareholders' Equity Attributable to Parent Company (RMB) | 2,870,184,862.18 | 2,880,788,595.40 | -0.37% (vs. end of prior year) | Non-recurring Gains and Losses and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to RMB 8.76 million, primarily from government subsidies and other non-operating income, which partially mitigated the impact of core business losses on overall net profit Non-recurring Gains and Losses for Q1 2024 | Item | Amount (RMB) | | :--- | :--- | | Government Subsidies | 6,719,825.91 | | Other Non-operating Income and Expenses | 3,923,824.14 | | Gains/Losses on Disposal of Non-current Assets | -355,144.48 | | Total | 8,755,076.80 | Analysis of Changes in Key Financial Indicators and Reasons The company's total profit significantly declined by 247.21% this period, primarily due to reduced special order demand, while operating cash flow improved by 33.61% due to decreased payments for goods, and investment cash outflow increased significantly due to wealth management product purchases - Total profit decreased by RMB 21.02 million year-over-year, a 247.21% decline, primarily due to reduced special order demand leading to a decrease in orders[6] - Net cash flow from operating activities increased by RMB 62.15 million year-over-year, a 33.61% increase, mainly due to a decrease in cash paid for goods and services[6] - Net cash flow from investing activities decreased by RMB 241.28 million year-over-year, a 2591.25% decline, primarily due to changes in investments in wealth management products[7] - Asset impairment losses increased by RMB 7.07 million year-over-year, a 471.30% increase, mainly due to an increase in inventory depreciation provisions[6] Shareholder Information Common Shareholder Holdings As of the end of the reporting period, the company had 46,637 common shareholders, with the top ten shareholders' holdings relatively concentrated, primarily state-owned legal entities, and the top five being affiliates controlled by China North Industries Group Corporation Limited - As of the end of the reporting period, the company had a total of 46,637 common shareholders[9] Top Five Shareholder Holdings | Shareholder Name | Shareholder Type | Holding Percentage (%) | | :--- | :--- | :--- | | Shanxi Xinhua Protective Equipment Co., Ltd | State-owned Legal Entity | 18.06% | | Norinco Investment Management Co., Ltd | State-owned Legal Entity | 10.19% | | China North Chemical Research Institute Group Co., Ltd | State-owned Legal Entity | 7.24% | | Luzhou North Chemical Industry Co., Ltd | State-owned Legal Entity | 5.59% | | Xi'an North Huian Chemical Industry Co., Ltd | State-owned Legal Entity | 5.49% | - The top five shareholders (Xinhua Protective, Norinco Investment, North Chemical Research Institute Group, Luzhou North, Xi'an Huian) are all controlled by China North Industries Group Corporation Limited[9] Preferred Shareholder Holdings The company had no preferred shareholders during this reporting period - The company has no preferred shareholders[10] Other Significant Matters Other Significant Matters During the reporting period, a significant personnel change occurred as Mr. Xue Gang, the Deputy General Manager, resigned due to work reasons - On April 8, 2024, Mr. Xue Gang, the company's Deputy General Manager, resigned due to work reasons and will no longer hold any positions in the company after his resignation[10] Quarterly Financial Statements Financial Statements Financial statements show that as of Q1 2024, total assets were RMB 4.46 billion, slightly down from the beginning of the year, with the company turning to a net loss of RMB 11.79 million, operating cash flow at a net outflow of RMB 123 million (an improvement), and investing cash flow at a net outflow of RMB 251 million primarily due to investment payments Consolidated Balance Sheet As of March 31, 2024, total assets were RMB 4.46 billion, down 2.38% from the year's start, total liabilities were RMB 1.42 billion, down 6.44%, and owners' equity attributable to the parent company was RMB 2.87 billion, a slight 0.37% decrease, driven by changes in monetary funds, financial assets, taxes payable, and other current liabilities Key Items from Consolidated Balance Sheet | Item | Period-end Balance (RMB) | Period-start Balance (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,460,711,983.41 | 4,569,355,945.79 | -2.38% | | Total Current Assets | 3,023,625,705.96 | 3,112,540,618.05 | -2.86% | | Total Non-current Assets | 1,437,086,277.45 | 1,456,815,327.74 | -1.35% | | Total Liabilities | 1,414,716,810.55 | 1,512,074,052.48 | -6.44% | | Total Current Liabilities | 1,273,025,579.56 | 1,368,709,808.48 | -6.99% | | Total Owners' Equity | 3,045,995,172.86 | 3,057,281,893.31 | -0.37% | | Total Owners' Equity Attributable to Parent Company | 2,870,184,862.18 | 2,880,788,595.40 | -0.37% | Consolidated Income Statement In Q1 2024, the company's operating revenue was RMB 297 million, down 23.91% year-over-year, and operating costs were RMB 231 million, down 28.78%, leading to an operating loss of RMB 16.44 million (from a profit of RMB 8.36 million last year) and a net loss of RMB 11.79 million due to revenue decline exceeding cost reduction and increased expenses Key Items from Consolidated Income Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Year-over-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 296,775,535.84 | 390,049,022.31 | -23.91% | | Total Operating Costs | 312,396,407.80 | 387,264,373.83 | -19.33% | | Operating Profit | -16,438,549.66 | 8,356,761.82 | -296.71% | | Total Profit | -12,514,725.52 | 8,501,250.64 | -247.21% | | Net Profit | -11,788,440.63 | 8,142,749.43 | -244.78% | | Net Profit Attributable to Parent Company Shareholders | -11,121,640.79 | 8,876,276.93 | -225.30% | Consolidated Cash Flow Statement This quarter's cash flow shows narrowed operating outflows and expanded investing outflows, with net cash flow from operating activities at RMB -123 million (an improvement from RMB -185 million last year), net cash flow from investing activities at RMB -251 million (from RMB -9.31 million last year) primarily due to RMB 245 million in wealth management product purchases, stable financing cash flow, and an ending cash and cash equivalents balance of RMB 1.19 billion Key Items from Consolidated Cash Flow Statement | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -122,758,539.61 | -184,903,799.33 | | Net Cash Flow from Investing Activities | -250,591,321.56 | -9,311,349.94 | | Net Cash Flow from Financing Activities | 70,455.28 | -1,327,203.11 | | Net Increase in Cash and Cash Equivalents | -372,277,418.10 | -197,740,582.79 | | Period-end Cash and Cash Equivalents Balance | 1,188,917,484.20 | 1,239,245,869.10 | Audit Report The company's Q1 2024 financial report is unaudited - The company's first-quarter report is unaudited[21]