000637SZSE
🚨 Material Event

2023 Third Quarter Report

Maohua Shihua Co., Ltd.··19 pages

✨ AI Summary

Maoming Petro-Chemical Shihua Co., Ltd. reported a net loss of 50.31 million RMB for the first three quarters of 2023, representing a significant year-on-year decline. The company's operating revenue fell by 21.19% compared to the same period last year. Key developments include ongoing litigation regarding the governance of its subsidiary, Xinwoda, and the status of a pending 45% equity disposal to Hongda Wanji, which remains incomplete due to delayed payments.

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Full Translation

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Maoming Petro-Chemical Shihua Co., Ltd. 2023 Third Quarter Report

Stock Code: 000637 Stock Abbreviation: ST Shihua

The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosure, and that there are no false records, misleading statements, or major omissions.

Important Content Tips:

  1. The Board of Directors, the Board of Supervisors, and the directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, and that there are no false records, misleading statements, or major omissions, and they bear individual and joint legal liability.

  2. The person in charge of the company, the person in charge of accounting, and the person in charge of the accounting department (accounting supervisor) declare: Guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report.

  3. Whether the third quarter report has been audited: No.

I. Major Financial Data

(I) Major Accounting Data and Financial Indicators

Whether the company needs to retroactively adjust or restate previous years' accounting data: No.

ItemThis Reporting PeriodChange vs. Same Period Last YearYear-to-DateChange vs. Same Period Last Year
Operating Income (RMB)1,415,312,983.618.01%4,045,214,450.30-21.19%
Net Profit attributable to shareholders of the listed company (RMB)1,245,162.03-115.45%-50,307,517.01-1,182.71%
Net profit after deducting non-recurring gains and losses attributable to shareholders of the listed company (RMB)-1,979,123.01-42.01%-55,306,448.43-665.53%
Net cash flow from operating activities (RMB)245,725,191.57-59.63%
Basic earnings per share (RMB/share)0.00-100.00%-0.10-1,100.00%
Diluted earnings per share (RMB/share)0.00-100.00%-0.10-1,100.00%
Weighted average return on net assets0.12%-115.38%-5.00%-1,211.11%
ItemEnd of Reporting PeriodEnd of Previous YearChange vs. End of Previous Year
Total Assets (RMB)2,667,607,984.192,893,302,484.54-7.80%
Net assets attributable to shareholders of the listed company (RMB)813,621,798.18879,714,239.26-7.51%

(II) Non-recurring Profit and Loss Items and Amounts

Applicable: Yes. Unit: RMB

ItemAmount for Reporting PeriodYear-to-Date AmountExplanation
Profit/loss from disposal of non-current assets (including write-off of asset impairment provisions)2,739,133.362,684,863.88
Government subsidies included in current profit/loss720,205.261,123,417.88
Profit/loss from changes in fair value of trading financial assets/liabilities and investment income from disposal of trading financial assets/liabilities-61,825.34283,654.17
Other non-operating income and expenses228,804.462,257,223.05
Less: Income tax impact79,799.46754,510.58
Less: Minority interest impact322,233.24595,716.98
Total (after tax)3,224,285.044,998,931.42--

(III) Situation and Reasons for Changes in Major Accounting Data and Financial Indicators

Applicable: Yes.

ItemEnd of Reporting Period (RMB)End of Previous Year (RMB)Change (%)Reason for Change
Monetary funds262,074,266.50160,256,673.6363.53Mainly due to increased oceanarium revenue and holiday prepayments.
Prepayments189,173,979.07106,614,659.3077.44Mainly due to increased prepayments for holiday raw materials.
Construction in progress102,467,438.9225,927,088.28295.21Mainly due to new office building purchase and technical renovation projects.
Accounts payable214,313,519.69133,065,367.1061.06Mainly due to increased settlement payments.
Contract liabilities201,382,680.5442,395,517.75375.01Mainly due to increased advance holiday payments.
Taxes payable30,896,695.235,426,259.35469.39Mainly due to increased VAT payable by subsidiaries.
Other current liabilities17,897,618.5182,071,423.38-78.19Mainly due to a decrease in unfinished notes receivable.
Undistributed profit51,764,344.40117,612,828.09-55.99Mainly due to dividend payments and decreased current profit.

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