航宇科技(688239) - 2024 Q3 - 季度财报

Report Overview Important Notices The company's management guarantees the report's authenticity and accuracy, noting that the Q3 financial statements are unaudited - The Board of Directors, Supervisory Committee, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions, and assume individual and joint legal liability[2] - The third-quarter financial statements are unaudited[2] I. Key Financial Data (I) Key Accounting Data and Financial Indicators The company's revenue and net profit declined year-over-year, while total assets and equity grew significantly Key Quarterly Financial Indicators Key Financial Indicators for the Current Reporting Period (Q3 2024) | Item | Current Period (Yuan) | Adjusted Prior Year Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 411,584,872.37 | 528,771,852.51 | -22.16 | | Net Profit Attributable to Shareholders | 43,953,031.37 | 51,155,516.96 | -14.08 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 40,625,370.28 | 42,935,391.63 | -5.38 | | Basic Earnings Per Share (Yuan/Share) | 0.30 | 0.35 | -14.29 | | Diluted Earnings Per Share (Yuan/Share) | 0.30 | 0.35 | -14.29 | | Weighted Average Return on Equity (%) | 2.42 | 3.23 | Decreased by 0.81 ppt | | Total R&D Investment | 15,394,271.73 | 16,835,234.07 | -8.56 | | R&D Investment as a Percentage of Operating Revenue (%) | 3.74 | 3.18 | Increased by 0.56 ppt | Key Financial Indicators from the Beginning of the Year to the End of the Reporting Period Key Financial Indicators from Jan-Sep 2024 | Item | YTD to Reporting Period End (Yuan) | Adjusted Prior Year Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,412,843,910.57 | 1,711,308,986.41 | -17.44 | | Net Profit Attributable to Shareholders | 147,462,881.48 | 167,006,661.13 | -11.70 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 134,645,929.73 | 153,658,539.78 | -12.37 | | Net Cash Flow from Operating Activities | -13,841,694.87 | -42,411,803.47 | N/A | | Basic Earnings Per Share (Yuan/Share) | 1.02 | 1.17 | -12.82 | | Diluted Earnings Per Share (Yuan/Share) | 1.02 | 1.16 | -12.07 | | Weighted Average Return on Equity (%) | 8.40 | 11.51 | Decreased by 3.11 ppt | | Total R&D Investment | 58,510,579.76 | 61,397,200.60 | -4.70 | | R&D Investment as a Percentage of Operating Revenue (%) | 4.14 | 3.59 | Increased by 0.55 ppt | Key Balance Sheet Indicators Key Balance Sheet Indicators (as of September 30, 2024) | Item | End of Current Reporting Period (Yuan) | Adjusted Prior Year-End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,288,759,369.16 | 3,408,826,352.65 | 25.81 | | Total Equity Attributable to Shareholders | 1,866,980,772.78 | 1,687,419,153.45 | 10.64 | Explanation of Accounting Standard Adjustments - The company adopted "Accounting Standards for Business Enterprises Interpretation No. 16" from January 1, 2023, retrospectively adjusting deferred tax items related to leases, with no material impact on the financial statements[5] (II) Non-recurring Profit and Loss Items and Amounts The company recorded non-recurring gains of ¥3.33 million in Q3 and ¥12.82 million year-to-date, primarily from government subsidies Non-recurring Profit and Loss Items and Amounts (Q3 & YTD 2024) | Non-recurring Profit and Loss Item | Current Period Amount (Yuan) | YTD Amount (Yuan) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -13,097.46 | -31,548.57 | | Government Grants Recognized in Current Profit or Loss | 4,165,971.70 | 11,598,347.47 | | Other Non-operating Income and Expenses | -238,102.47 | -405,152.02 | | Reversal of Impairment Provision for Individually Tested Receivables | 0 | 3,917,293.50 | | Less: Income Tax Effect | 587,343.21 | 2,261,899.03 | | Minority Interest Effect (After Tax) | -232.53 | 89.60 | | Total | 3,327,661.09 | 12,816,951.75 | (III) Analysis of Major Changes in Key Accounting Data and Financial Indicators The improvement in year-to-date net cash flow from operating activities was mainly due to reduced raw material procurement expenses - The change in net cash flow from operating activities from the beginning of the year to the end of the reporting period was mainly due to a year-over-year decrease in raw material procurement expenditures[9] II. Shareholder Information (I) Total Number of Common Shareholders and Top 10 Shareholders' Holdings The company had 7,680 common shareholders, with Shandong Huaigu Enterprise Management Co., Ltd. being the largest at 21.98% - At the end of the reporting period, the total number of common shareholders was 7,680[10] Top 10 Shareholders' Holdings (as of September 30, 2024) | Shareholder Name | Shareholder Type | Number of Shares Held (Shares) | Shareholding Ratio (%) | Number of Restricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | | Shandong Huaigu Enterprise Management Co., Ltd. | Domestic Non-State-owned Legal Entity | 32,512,355 | 21.98 | 0 | | China Construction Bank - E Fund Military Industry Hybrid Securities Investment Fund | Other | 6,397,170 | 4.32 | 0 | | Zhang Hua | Domestic Natural Person | 4,890,608 | 3.31 | 3,468,208 | | Guizhou Science and Technology Venture Capital Co., Ltd. | State-owned Legal Entity | 4,247,231 | 2.87 | 0 | | Lu Manyu | Domestic Natural Person | 2,658,308 | 1.80 | 85,740 | | Sun Feng | Domestic Natural Person | 2,565,342 | 1.73 | 0 | | Basic Pension Insurance Fund Portfolio 1205 | Other | 1,968,644 | 1.33 | 0 | | China Merchants Bank - E Fund Quality Momentum Three-Year Holding Period Hybrid Securities Investment Fund | Other | 1,846,246 | 1.25 | 0 | | Zhang Xianzhi | Domestic Natural Person | 1,762,908 | 1.19 | 0 | | Industrial and Commercial Bank of China - E Fund Kexiang Hybrid Securities Investment Fund | Other | 1,571,654 | 1.06 | 0 | - Zhang Hua is the chairman and actual controller of Shandong Huaigu Enterprise Management Co., Ltd.; Lu Manyu is a director of Shandong Huaigu and holds 18.54% of its capital contribution; Guizhou Science and Technology Venture Capital Co., Ltd. is an enterprise where company director Chen Luwen serves as a senior manager[13] - Mr. Lu Manyu resigned as General Manager and Director due to approaching retirement and health reasons, but will continue as a sales consultant; Ms. Chen Luwen resigned as Director due to post-IPO operational stability and state-owned enterprise management requirements, and will no longer hold any position in the listed company[13] III. Other Important Matters Other Significant Information Regarding Operating Conditions There is no other significant operating information requiring investor attention during this reporting period - There is no other significant information requiring investor attention during this reporting period[14] IV. Quarterly Financial Statements (I) Audit Opinion Type The quarterly financial statements are unaudited - The quarterly financial statements are unaudited[14] (II) Financial Statements This section presents the unaudited consolidated financial statements for the period ending September 30, 2024 Consolidated Balance Sheet Key Item Changes in Consolidated Balance Sheet (Sep 30, 2024 vs Dec 31, 2023) | Item | Sep 30, 2024 (Yuan) | Dec 31, 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 832,612,784.66 | 322,249,115.59 | 158.37 | | Trading Financial Assets | 50,000,000.00 | 0 | New | | Accounts Receivable | 1,091,959,851.89 | 870,131,501.72 | 25.49 | | Construction in Progress | 98,602,694.03 | 26,440,622.28 | 272.93 | | Intangible Assets | 86,379,970.23 | 38,117,036.50 | 126.62 | | Total Assets | 4,288,759,369.16 | 3,408,826,352.65 | 25.81 | | Short-term Borrowings | 391,212,639.18 | 306,292,040.27 | 27.73 | | Notes Payable | 321,247,747.19 | 380,749,075.46 | -15.63 | | Accounts Payable | 393,360,814.77 | 329,962,537.13 | 19.21 | | Bonds Payable | 632,860,583.32 | 0 | New | | Total Liabilities | 2,402,642,112.68 | 1,706,432,455.73 | 40.80 | | Total Equity Attributable to Parent Company Shareholders | 1,866,980,772.78 | 1,687,419,153.45 | 10.64 | Consolidated Income Statement Key Item Changes in Consolidated Income Statement (Jan-Sep 2024 vs Jan-Sep 2023) | Item | First Three Quarters 2024 (Yuan) | First Three Quarters 2023 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,412,843,910.57 | 1,711,308,986.41 | -17.44 | | Total Operating Costs | 1,192,215,263.88 | 1,466,978,620.32 | -18.73 | | Cost of Goods Sold | 1,001,876,263.70 | 1,239,657,250.97 | -19.20 | | General & Administrative Expenses | 77,228,849.87 | 109,037,428.58 | -29.17 | | R&D Expenses | 58,510,579.76 | 61,397,200.60 | -4.70 | | Finance Costs | 20,065,645.28 | 19,449,792.83 | 3.17 | | Operating Profit | 173,088,237.38 | 189,568,526.64 | -8.70 | | Total Profit | 172,682,107.01 | 189,279,990.10 | -8.77 | | Net Profit | 146,485,121.71 | 166,812,950.19 | -12.29 | | Net Profit Attributable to Parent Company Shareholders | 147,462,881.48 | 167,006,661.13 | -11.70 | | Basic Earnings Per Share (Yuan/Share) | 1.02 | 1.17 | -12.82 | Consolidated Cash Flow Statement Key Item Changes in Consolidated Cash Flow Statement (Jan-Sep 2024 vs Jan-Sep 2023) | Item | First Three Quarters 2024 (Yuan) | First Three Quarters 2023 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -13,841,694.87 | -42,411,803.47 | Improved | | Net Cash Flow from Investing Activities | -156,813,446.36 | -206,143,982.71 | Improved | | Net Cash Flow from Financing Activities | 678,722,559.46 | 145,259,827.44 | Increased | | Cash Received from Investments | 672,546,000.00 | 200,500,527.87 | 235.43% | | Cash Received from Borrowings | 303,066,845.81 | 354,434,400.00 | -14.50% | | Net Increase in Cash and Cash Equivalents | 508,931,461.62 | -102,951,290.68 | Significantly Increased | | Cash and Cash Equivalents at End of Period | 797,140,160.94 | 166,267,016.48 | 379.45% | - The improvement in net cash flow from operating activities was mainly due to a year-over-year decrease in raw material procurement expenditures[9][23]