东方精工:2024年第一季度报告(英文)

查股网  2024-04-26  东方精工(002611)公司公告

GUANGDONG DONGFANG PRECISION SCIENCE & TECHNOLOGY CO., LTD.

THE REPORT FOR THE FIRST QUARTER OF 2024

The Company as well as all members of the Board of Directors hereby guarantee thefactuality, accuracy, and completeness of the information disclosed, and its free of anymisrepresentations, misleading statements, or material omissions.

Important Notes:

1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of Guangdong Dongfang Precision Science & Technology Co., Ltd.(hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy, and completeness of thecontents of this Report, and shall be jointly and severally liable for any misrepresentations, misleadingstatements, or material omissions therein.

2. The Company’s legal representative, the Company’s Chief Financial Officer, and the person-in-chargeof the accounting organ hereby guarantee that the financial statements carried in this Report are factual,accurate and complete.

3. Whether the 1

st

quarter report has been audited

□ Yes √ No

The report for the 1

stquarter of 2024 of the Company has been prepared and released in Chinese,and now has been translated into English. Should there be any discrepancies or misunderstandingsbetween the two versions, the Chinese version shall prevail.

I Key Financial Information

1. Key Financial Data and Indicators

Indicate whether there is any retrospectively restated datum in the table below.

□ Yes √ No

Q1 2024Q1 2023Rate of Change
Operating revenue (RMB)935,144,681.91907,101,141.803.09%
Net profit attributable to the listed company’s shareholders (RMB yuan)44,642,460.2484,973,342.92-47.46%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB yuan)65,730,334.9651,961,918.8926.50%
Net cash generated from/used in operating activities (RMB yuan)5,507,844.28104,429,591.30-94.73%
Basic earnings per share (RMB / share)0.040.07-42.86%
Diluted earnings per share (RMB /share)0.040.07-42.86%
Weighted average return on equity (ROE)0.99%2.08%-1.09%
Ending balance Of the Reporting PeriodBeginning balance Of the Reporting PeriodRate of Change
Total assets (RMB)7,346,743,431.977,538,222,570.02-2.54%
Equity attributable to the listed company’s shareholders (RMB)4,531,746,724.394,511,690,693.970.44%

2. Non-recurring profit and loss items and amount

√ Applicable □ Not applicable

Unit: RMB

ItemQ1 2024Notes
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)5,324,883.80
Government grants through profit or loss (exclusive of government grants given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards)7,668,092.27
Gain or loss on fair-value changes on held-for-trading and derivative financial assets and liabilities & income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business)-36,748,582.14
Non-Operating Revenue and expenses other than the above21,264.09
Less: Income tax effects-2,985,957.85
Non-controlling interests effects (net of tax)339,490.59
ItemQ1 2024Notes
Total-21,087,874.72--

Other items that meet the definition of non-recurring profit and loss:

□ Applicable √ Not applicable

No such cases for the Reporting Period.

Note of the reclassification of non-recurring items of profit or loss listed in "Explanatory Announcement No. 1 on Disclosure ofInformation by Companies Issuing Public Securities - Non-recurring Profit or Loss" as recurring items of profit or loss:

□ Applicable √ Not applicable

No such cases for the Reporting Period.

3. Changes in Key Financial Data and Indicators and the Reasons

√Applicable □ Not applicable

Unit: RMB

(1) Balance sheet items

ItemsEnding balance Of the Reporting PeriodBeginning balance Of the Reporting PeriodAmount of ChangeRate of ChangeNotes
Accounts receivable761,832,183.50904,003,975.47-142,171,791.97-15.73%Mainly due to the payment from clients during the reporting period.
Other non-current financial assets538,639,298.97461,278,259.6777,361,039.3016.77%Mainly due to the increase in equity investments during the reporting period.

Construction in

progress

Construction in progress239,304,530.92195,557,097.8043,747,433.1222.37%Mainly due to the increase in investment in plant construction during the reporting period.
Treasury stock117,523,041.40218,298,532.79-100,775,491.39-46.16%Mainly due to the cancellation of treasury shares during the reporting period.

(2) Income statement items

ItemsQ1 2024Q1 2023Amount of ChangeRate of ChangeNotes

Finance costs

Finance costs2,582,632.054,922,184.62-2,339,552.57-47.53%Mainly due to the increase in interest income during the reporting period.
Investment income-504,442.0411,843,626.19-12,348,068.23-104.26%Mainly due to the decrease in the income recognized on the disposal of financial assets held for trading during the reporting period compared with the same period last year.

Gain/loss on changes

in fair value

Gain/loss on changes in fair value-37,534,490.9018,689,791.21-56,224,282.11-300.83%Mainly due to the fluctuation of fair value of financial assets held for trading during the reporting period.

(3) Cash flow statement items

ItemsQ1 2024Q1 2023Amount of ChangeRate of ChangeNotes
Net cash generated from/used in operating activities5,507,844.28104,429,591.30-98,921,747.0294.73%Mainly due to the decrease in cash inflow from operating activities and the increase in payment of expenses and taxes during the period.
Net cash generated from/used in investing activities-212,158,182.3772,757,007.84-284,915,190.21-391.60%Mainly due to the investment in financial assets during the reporting period.
Net cash generated from/used in financing activities-17,095,693.17-42,170,254.9425,074,561.7759.46%Mainly due to the repurchase of shares by way of centralized bidding in the same period of last year and no share repurchase in the current reporting period.

II Shareholder Information

1. Total Number of Ordinary Shareholders and Number of Preference Shareholders with Resumed VotingRights, as well as Information of Top 10 Shareholders

Unit: shares

Number of ordinary shareholders at the period-end111,736Number of preference shareholders with resumed voting rights at the period-end (if any)Not applicable
Top 10 shareholders (excluding lending of shares through the facility)
Name of shareholderNature of shareholderShareholding percentageTotal shares held at the period-endRestricted shares heldShares in pledge or frozen
StatusShares
Tang ZhuolinDomestic individual22.21%270,737,568.00203,053,176.00In pledge110,090,000.00
Tang ZhuomianDomestic individual7.95%96,885,134.000.00In pledge41,660,000.00
Pulead Technology Industry Co., Ltd.State-owned corporation2.93%35,748,587.000.00NA0.00
Luzhou Industrial Development Investment Group Co., Ltd.State-owned corporation2.61%31,770,010.000.00NA0.00
Qinghai Puren Intelligent Technology R & D Center (Limited Partnership)Domestic non-state-owned corporation2.18%26,628,340.000.00NA0.00
Qiu YezhiDomestic individual1.92%23,382,388.0017,536,791.00NA0.00
Hong Kong Securities Clearing Company LimitedOverseas corporation1.68%20,483,748.000.00NA0.00
Liu WucaiDomestic individual0.54%6,597,688.000.00NA0.00
Beixin Ruifeng Fund - Industrial and Commercial Bank of China - Beijing Hengyu Tianze Investment Management Co., Ltd.Others0.51%6,171,777.000.00NA0.00
Guotai Junan Securities Co., LtdState-owned corporation0.43%5,245,927.000.00NA0.00
Top 10 unrestricted ordinary shareholders
Name of shareholderUnrestricted shares held at the period-endShares by type
TypeShares
Tang Zhuomian96,885,134.00RMB ordinary shares96,885,134.00
Tang Zhuolin67,684,392.00RMB ordinary shares67,684,392.00
Pulead Technology Industry Co., Ltd.35,748,587.00RMB ordinary shares35,748,587.00
Luzhou Industrial Development Investment Group Co., Ltd.31,770,010.00RMB ordinary shares31,770,010.00
Qinghai Puren Intelligent Technology R & D Center (Limited Partnership)26,628,340.00RMB ordinary shares26,628,340.00
Hong Kong Securities Clearing Company Limited20,483,748.00RMB ordinary shares20,483,748.00
Liu Wucai6,597,688.00RMB ordinary shares6,597,688.00
Beixin Ruifeng Fund - Industrial and Commercial Bank of China - Beijing Hengyu Tianze Investment Management Co., Ltd.6,171,777.00RMB ordinary shares6,171,777.00
Qiu Yezhi5,845,597.00RMB ordinary shares5,845,597.00
Guotai Junan Securities Co., Ltd5,245,927.00RMB ordinary shares5,245,927.00
Related or acting-in-concert parties among the shareholders aboveTang Zhuolin and Tang Zhuomian are full brothers. On 18 August 2010, they signed the Agreement on Acting in Concert. Pulead Technology Industry Co., Ltd., and Qinghai Puren Intelligent Technology R & D Center (Limited Partnership) are acting-in-concert parties. Except for these, the Company does not know whether the other shareholders are related parties or whether they are acting-in-concert parties in accordance with the Measures for the Administration of acquisitions of listed companies.
Description of the participation of the top 10 common shareholders in the financing and securities financing business (if any)As of 31 March 2024, Luzhou Industrial Development Investment Group Co., Ltd. hold 31,770,010 shares through a client credit transaction guarantee securities account with Guotai Junan Securities Co. Ltd.

Explanation on the shareholding of the repurchase accountAs of the end of the Reporting Period, there were 21,330,432 shares in the Company’s special account for repurchase, accounting for

1.75% of its total share capital. As per the Shenzhen Stock Exchange Guideline No. 1 for the Self-regulation of Listed Companies—Business Handling, the existence of a special account of repurchased shares among the top 10 shareholders should be specifically statedbut not included in the presentation of the top 10 shareholders.Shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited shares in circulation involvedin refinancing shares lending

□ Applicable √ Not applicable

The change of the top 10 shareholders and top 10 shareholders with unlimited shares from the previous period due to involved inrefinancing shares lending

□ Applicable √ Not applicable

2. Total Number of Preference Shareholders and Information of Top 10 Preference Shareholders

□ Applicable √ Not applicable

III Other Significant Events

□Applicable √ Not applicable

IV Quarterly Financial Statements

1. Financial Statements

(1) Consolidated Balance Sheet

Prepared by: Guangdong Dongfang Precision Science & Technology Co., Ltd.

31 March 2024

Unit: RMB

Item31 March 20241 January 2024
Current assets:
Cash and bank balances1,585,446,506.541,826,419,904.49
Settlement provisions
Dismantling funds
Financial assets held for trading710,124,493.57682,625,442.45
Derivative financial assets
Notes receivable30,453,136.6547,661,412.88
Accounts receivable761,832,183.50904,003,975.47
Receivable financing12,324,640.679,365,344.07
Prepayments42,036,858.2745,741,143.90
Premium receivable
Receivable reinsurance account
Provision for reinsurance contract receivable
Other receivables45,662,474.8151,797,943.96
Including: Interest receivable
Dividend receivable
Buy back resale financial assets
Inventories1,264,251,432.721,182,411,055.68
Including: Data Resource
Contract assets46,371,263.6845,946,377.14
Assets held for sale
Current portion of non-current assets5,640,000.005,970,000.00
Other current assets85,816,246.0175,234,656.07
Total current assets4,589,959,236.424,877,177,256.11
Non-current assets:
Loans and advances
Debt investment
Other debt investments
Long-term receivables3,527,062.004,308,196.00
Long-term equity investment115,934,633.45117,265,884.84
Investment in other equity
Item31 March 20241 January 2024
instruments
Other non-current financial assets538,639,298.97461,278,259.67
Real estate investment
Fixed assets610,452,835.17611,851,577.04
Construction in progress239,304,530.92195,557,097.80
Productive biological assets
Oil and gas asset
Right-of-use assets74,792,487.5182,342,398.83
Intangible assets356,091,426.70365,954,480.05
Including: Data Resource
Development expenditure
Including: Data Resource
Goodwill436,564,855.74440,633,826.08
Long-term prepaid expenses25,270,551.8728,543,581.54
Deferred tax assets255,949,916.18255,872,409.78
Other non-current assets100,256,597.0497,437,602.28
Total non-current assets2,756,784,195.552,661,045,313.91
Total assets7,346,743,431.977,538,222,570.02
Current liabilities:
Short-term borrowings353,476,597.91370,549,972.80
Borrowing from the Central Bank
Borrowed funds
Financial liabilities held for trading116,089,413.93115,900,827.21
Derivative financial liabilities
Notes payable157,066,552.79152,433,276.09
Accounts payable627,058,760.40737,544,841.42
Advance receivables
Contract liabilities580,272,004.02645,608,919.34
Selling back financial assets
Deposits and Interbank deposit
Agent trading securities
Agent underwriting securities
Employee benefits payable156,014,087.57153,282,932.10
Tax payable76,828,604.3567,609,203.41
Other payables109,869,207.97126,415,425.61
Including: Interest payable
Dividend payable
Fees and commissions
Reinsurance accounts payable
Liabilities held for sale
Current portion of non-current52,837,660.5557,001,396.44
Item31 March 20241 January 2024
liabilities
Other current liabilities5,789,301.629,145,175.01
Total current liabilities2,235,302,191.112,435,491,969.43
Non-current liabilities:
Insurance contract reserve
Long-term borrowings72,126,587.4279,107,701.15
Bonds payable
Including: Preference Shares
Perpetual bonds
Lease liabilities58,840,029.6565,861,441.32
Long-term payables
Long-term employee benefits payable13,470,626.9313,964,394.20
Provisions165,605,652.65168,358,953.84
Deferred income9,677,826.669,956,991.66
Deferred tax liabilities3,880,716.028,854,294.28
Other non-current liabilities24,389,394.6022,418,854.80
Total non-current liabilities347,990,833.93368,522,631.25
Total Liabilities2,583,293,025.042,804,014,600.68
Equity:
Share capital1,219,046,340.001,240,618,400.00
Other equity instruments
Including: Preference Shares
Perpetual bonds
Capital surplus2,811,258,442.792,889,928,997.21
Less: Treasury stock117,523,041.40218,298,532.79
Other comprehensive income49,678,946.9675,122,078.52
Special reserve16,553,641.8016,229,817.03
Surplus reserves51,830,974.4551,830,974.45
General risk preparation
Retained earnings500,901,419.79456,258,959.55
Total equity attributable to owners of the parent4,531,746,724.394,511,690,693.97
Non-controlling interests231,703,682.54222,517,275.37
Total equity4,763,450,406.934,734,207,969.34
Total liabilities and equity7,346,743,431.977,538,222,570.02

Legal representative: Tang Zhuolin, Chief Financial Officer: Shao Yongfeng, Person-in-charge of the accounting organ: Chen Nan

(2) Consolidated Income Statement for Q1 2024

Unit: RMB

ItemQ1 2024Q1 2023
1 Total operating revenue935,144,681.91907,101,141.80
Including: Operating revenue935,144,681.91907,101,141.80
Interest income
Premiums earned
Fee and commission income
2 Total operating cost817,543,084.75816,570,578.44
Including: Cost of sales647,571,343.21653,454,327.84
Interest expense
Payment of fees and commission
Surrender fund
Net indemnity expenditure
Draw the net reserve of insurance liability contract
Policy dividend expense
Reinsurance cost
Taxes and surcharges5,584,907.994,693,860.22
Selling expenses58,532,634.0649,395,917.66
Administrative expenses78,363,881.2376,467,070.01
R&D expenses24,907,686.2127,637,218.09
Finance costs2,582,632.054,922,184.62
Including: Interest expenses5,933,750.142,869,618.96
Interest income11,007,419.516,504,802.55
Add: Other income7,668,092.272,550,704.06
Investment income (loss with "-" sign)-504,442.0411,843,626.19
Including: Share of profit or loss of joint ventures and associates-1,290,350.80-1,617,104.92
Income from derecognition of financial assets measured at amortized cost (loss with "-" sign)
Exchange gain (loss with "-" sign)
Net exposure hedging gain (loss with "-" sign)
Gain/loss on changes in fair value (loss with "-" sign)-37,534,490.9018,689,791.21
Credit impairment loss (loss is listed with "-" sign)355,146.36-410,038.39
Asset impairment loss (loss with "-" sign)-1,819,655.67-1,438,574.33
Gain/loss on disposal of assets (loss with "-" sign)5,324,883.80-382,067.42
3 Operating profit (losses are listed with "-" sign)91,091,130.98121,384,004.68
Add: Non-operating income356,823.15876,053.60
ItemQ1 2024Q1 2023
Less: Non-operating expenses335,559.06882,910.87
5 Gross profit (the gross loss shall be filled in with the sign "-")91,112,395.07121,377,147.41
Less: Income tax expenses37,483,680.5624,873,932.20
Net profit (net loss is listed with "-" sign)53,628,714.5196,503,215.21
(1) Net profit from continuing operations
i. Net profit from continuing operations (net loss with "-" sign)53,628,714.5196,503,215.21
ii. Net profit from termination of operation (net loss with "-" sign)
(2) Net profit classified by attribution of ownership
i. Net profit attributable to owners of the parent44,642,460.2484,973,342.92
ii. Net profit attributable to non-controlling interests8,986,254.2711,529,872.29
6 Other comprehensive income/(loss), net of tax-25,242,978.668,816,358.75
Other comprehensive income/(loss) attributable to owners of the parent, net of tax-25,443,131.568,917,647.18
(1) Other comprehensive loss that will not be reclassified to profit or loss21,563.68-229,036.89
i. Changes caused by remeasurements on defined benefit schemes21,563.68-229,036.89
ii. Other comprehensive income that cannot be transferred to profit or loss under the equity method
iii. Changes in fair value of investments in other equity instruments
iv. Fair value change of enterprise's own credit risk
v. Other
(2) Other comprehensive income/(loss) that will be reclassified to profit or loss-25,464,695.249,146,684.07
i. Other comprehensive income that can be transferred to profit or loss under the equity method
ii. Changes in fair value of other debt investments
iii. The amount of financial assets reclassified to other comprehensive income
iv. Provision for credit impairment of other debt investments
v. Cash flow hedging reserve
vi. Differences arising from the-25,464,695.249,146,684.07
ItemQ1 2024Q1 2023
translation of foreign currency-denominated financial statements
vii. Other
Other comprehensive income attributable to non-controlling interests, net of tax200,152.90-101,288.43
Total comprehensive income28,385,735.85105,319,573.96
Total comprehensive income attributable to owners of the parent19,199,328.6893,890,990.10
Total comprehensive income attributable to non-controlling interests9,186,407.1711,428,583.86
Earnings per share:
(1) Basic earnings per share0.040.07
(2) Diluted earnings per share0.040.07

Legal representative: Tang Zhuolin, Chief Financial Officer: Shao Yongfeng, Person-in-charge of the accounting organ: Chen Nan

(3) Consolidated Statement of Cash Flows for Q1 2024

Unit: RMB

ItemQ1 2024Q1 2023
1 Cash flows from operating activities:
Proceeds from sale of goods and rendering of services1,011,520,560.901,133,116,009.63
Net increase in customer deposits and interbank deposits
Net increase in borrowing from the central bank
Net increase in funds transferred to other financial institutions
Cash received from the premium of the original insurance contract
Net cash received from reinsurance business
Net increase in depositors' deposits and investment funds
Cash that collects interest, commission and commission
Net increase in borrowed funds
Net increase in funds for repurchase business
Net cash received by agents buying and selling securities
Receipts of taxes and surcharges refunds20,587,758.4512,654,705.82
Cash generated from other operating activities21,323,580.8217,909,137.78
Subtotal of cash inflows from operating activities1,053,431,900.171,163,679,853.23
Payments for goods and services730,066,826.08801,773,222.77
Net increase in customer loans and advances
Net increase in central bank and interbank deposits
ItemQ1 2024Q1 2023
Cash to pay the indemnity of the original insurance contract
Net increase in loan funds
Cash for the payment of interest, fees and commissions
Cash for the payment of policy dividends
Cash payments to and on behalf of employees193,733,692.78147,283,122.05
Payments of all types of taxes and surcharges50,408,943.9324,101,285.42
Cash used in other operating activities73,714,593.1086,092,631.69
Subtotal of cash outflows from operating activities1,047,924,055.891,059,250,261.93
Net cash generated from/used in operating activities5,507,844.28104,429,591.30
2 Cash flows from investing activities:
Proceeds from disinvestment297,918,472.871,057,772,710.37
Investment income975,347.9431,580,739.51
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets59,124.251,800.00
Disposal of net cash received by subsidiaries and other business units
Cash generated from other investing activities
Subtotal of cash inflows from investing activities298,952,945.061,089,355,249.88
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets71,344,069.1931,121,172.19
Payments for investments439,767,058.24985,477,069.85
Net increase in pledged loans
Obtain net cash paid by subsidiaries and other business units
Cash used in other investing activities
Subtotal of cash outflows in investing activities511,111,127.431,016,598,242.04
Net cash generated from/used in investing activities-212,158,182.3772,757,007.84
3 Cash flows from financing activities:
Absorb the cash received by the investment
Including: the subsidiary absorbs the cash received from the investment of minority shareholders
Borrowings raised59,976,725.9676,518,715.93
Cash generated from other financing activities16,795,059.1666,555,529.72
Subtotal of cash inflows from financing activities76,771,785.12143,074,245.65
Repayment of borrowings57,863,564.5928,294,072.18
Interest and dividends paid4,485,776.921,631,824.74
Including: Interest and dividends paid to minority shareholders
Cash used in other financing activities31,518,136.78155,318,603.67
Subtotal of cash outflows from financing activities93,867,478.29185,244,500.59
Net cash generated from/used in financing activities-17,095,693.17-42,170,254.94
4 Effect of foreign exchange rates changes on cash and cash equivalents-20,108,408.675,507,470.66
5 Net (decrease)/increase in cash and cash equivalents-243,854,439.93140,523,814.86
Add: Cash and cash equivalents, beginning of1,672,514,611.841,233,720,697.27
ItemQ1 2024Q1 2023
the period
6 Cash and cash equivalents, end of the period1,428,660,171.911,374,244,512.13

Legal representative: Tang Zhuolin, Chief Financial Officer: Shao Yongfeng, Person-in-charge of the accounting organ: Chen Nan

2. Adjustments to financial statements at the beginning of the year of first implementation of new accountingstandards for the first time from 2024 onwards

□Applicable √ Not applicable

3. Audit Report

Whether the Report has been audited

□ Yes √ No

The report for the 1

stquarter of 2024 of the Company has not been audited.

Board of Directors

ofGuangdong Dongfang Precision Science & Technology Co., Ltd.

25 April 2024


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