2021-10-28-深交所-明阳电路_2021年第三季度报告_14页_401kb

Shenzhen Mingyang Circuit Technology Co., Ltd. 2021 Q3 Report Summary

Financial Performance Overview:
The company reported strong quarterly growth in revenue and net profit for Q3 2021. Revenue increased by 59.22% year-over-year to 525 million yuan, while net profit attributable to shareholders rose by 42.74% to 38.16 million yuan. After adjusting for non-recurring items, net profit grew 62.76%. However, year-to-date figures show a decline in net profit by 28.17% compared to 2020, indicating overall weakening profitability over the year.

Balance Sheet Changes:
Total assets increased by 16.3% to 3.12 billion yuan due to investments and expansion. Liabilities also rose, reflecting higher operational costs and financing activities. Notable increases in inventory and fixed assets support business growth, though cash flow from operations dropped 50.94% year-over-year.

Key Events and Disclosures:

• Changes to fundraising project locations were approved, expanding production capacity.
• Repurchased and canceled restricted shares from former employees, totaling 28,920 shares.
• Convertible bonds ("Ming Electric Convertible Bond") were partly converted into shares, reducing bond amounts.
• Shareholder structure remained dominated by related parties, with top shareholder Yun Nan Runzhixi holding 55.8% of shares.

Additional Notes:
The report highlights increased focus on high-frequency printed circuit boards and international expansion, driven by higher orders and产能利用率. Regulatory compliance was assured, and the company faced challenges from rising raw material costs and taxes. Unaudited Q3 results reflect mixed trends in profitability and cash flow.