2023-04-28-上交所-Report_for_First_Quarter_of_2023_16页_399kb

报告摘要

Xiamen Xiangyu Co., Ltd. First Quarter 2023 Report Summary

Core Content

This report provides a comprehensive overview of Xiamen Xiangyu Co., Ltd.'s financial performance for the first quarter of 2023, including key financial data, shareholder information, and details on the quarterly financial statements. The report also outlines non-recurring profit and loss items and notes on retroactive adjustments to financial statements.

Key Financial Data

Financial Indicators (in million Yuan)

Item	Current Reporting Period	Same Reporting Period of Last Year (Before Adjustment)	Same Reporting Period of Last Year (After Adjustment)	YoY Change (%)
Operating Revenue	129,150.20	113,863.69	113,863.69	13.43
Net Profit Attributable to Shareholders	546.36	466.33	477.09	14.52
Net Profit After Deducting Non-recurring Profit and Loss	44.92	687.05	697.81	-93.56
Basic Earnings Per Share	0.23	0.20	0.20	15.00
Diluted Earnings Per Share	0.23	0.19	0.19	21.05
Weighted Average Return on Equity	3.43%	3.23%	3.23%	+0.20%

Assets and Liabilities (in million Yuan)

Item	At End of Reporting Period	At End of Last Year	YoY Change (%)
Total Assets	138,507.78	115,107.11	20.33
Owner's Equity Attributable to Shareholders	17,369.62	17,082.81	1.68

Non-recurring Profit and Loss Items (in Yuan)

Item	Amount	Remark
Gain or Loss on Disposal of Non-current Assets	-24,165.40	-
Government Subsidies (Non-operating)	105,514,377.67	Includes subsidies from previous years
Changes in Fair Value of Financial Instruments	515,072,856.82	Related to commodity price and exchange rate hedging
Reversal of Impairment Provision	9,998,097.61	-
Trustee Fee from Entrusted Operations	1,686,320.76	-
Other Non-operating Incomes and Expenses	40,574,758.98	-
Less: Income Tax Consequence	140,153,501.82	-
Less: Minority Equity Consequence (after tax)	31,225,455.26	-
Total	501,443,289.36	-

Changes in Key Financial Data

The significant decline in net profit after deducting non-recurring profit and loss is attributed to a Year-on-Year increase of RMB 722 million in non-recurring profit and loss, primarily due to changes in fair value of financial instruments and gains/losses from hedging activities related to the main business operations.

Shareholder Information

Total number of shareholders at the end of the reporting period: 35,354
Preferred shareholders with voting rights restored: 0
Top 10 Shareholders:
- Xiamen Xiangyu Group Corporation (State-owned legal person): 1,122,603,723 shares (49.59%)
- Hong Kong Securities Clearing Company Ltd. (Overseas legal person): 57,809,939 shares (2.55%)
- National Social Security Fund Portfolio 503: 54,000,000 shares (2.39%)
- Xiamen CCRE Group Co., Ltd. (State-owned legal person): 50,226,994 shares (2.22%)
- China Agricultural Reclamation Industry Development Fund (L.P.): 43,149,000 shares (1.91%)
- National Social Security Fund Portfolio 114: 39,563,223 shares (1.75%)
- Xiangyu Real Estate Group Co., Ltd.: 30,388,100 shares (1.34%)
- China Merchants Bank Co., Ltd. - SSE Dividend Trading Open-ended Index Securities Investment Fund: 24,395,352 shares (1.08%)
- National Social Security Fund Portfolio 401: 16,148,301 shares (0.71%)
- Bank of China Limited-Harvest Logistics Industry Equity Securities Investment Fund: 14,948,007 shares (0.66%)
Note: Xiangyu Real Estate Group Co., Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu Group Corporation. No information is available on whether other shareholders are in association or acting in concert.

Other Reminders

Harbin Rural Commercial Bank:
- The Company holds 9.9% of its shares.
- Harbin Rural Commercial Bank made an impairment provision of RMB 1.6 billion in the first quarter of 2023, leading to an investment loss of RMB 148 million.
- The Company signed an Equity Transfer Intention Agreement with its controlling shareholder to transfer its shares in Harbin Rural Commercial Bank to the controlling shareholder or its subsidiaries. The audit and evaluation are ongoing, with the goal to complete the transfer within 2023.
Share Granting:
- The Company held its sixth meeting of the ninth session of the board of directors on March 28, 2023.
- 6.09 million restricted shares were granted to 59 eligible incentive recipients at a grant price of RMB 5.36 per share.
- The reservation grant has not yet been registered.
Non-public A-shares Offering:
- The project has been transferred to the Shanghai Stock Exchange and is currently under review.

Quarterly Financial Statements

Auditor's Opinion

Applicable (Unaudited)

Consolidated Balance Sheet (As of March 31, 2023)

Item	March 31, 2023	January 1, 2023
Total Assets	138,507,782,593.92	115,107,114,674.89
Total Liabilities	101,774,432,432.57	78,729,636,652.47
Total Owner's Equity	36,733,350,161.35	36,377,478,022.42

Consolidated Income Statement (January – March 2023)

Item	First Quarter 2023	First Quarter 2022
Total Operating Revenue	129,150,204,083.95	113,863,690,436.25
Total Operating Cost	128,004,975,289.97	112,140,457,441.80
Total Profits	848,042,820.76	896,233,620.16
Income Tax Expense	89,575,637.68	187,980,195.72
Net Profit	758,467,183.08	708,253,424.44

Earnings Per Share

Basic Earnings Per Share: 0.23 Yuan/share
Diluted Earnings Per Share: 0.23 Yuan/share

Retroactive Adjustments

The Company implemented Accounting Standards for Enterprises Interpretation No. 16, leading to retroactive adjustments in the balance sheet and income statement items for the beginning of the consolidated period and the same period of last year.
Adjustments included changes to deferred tax assets, deferred tax liabilities, undistributed profits, and minority interests.