[三季报]九阳股份(002242):九阳股份有限公司2023年第三季度报告(英文版)

时间:2023年10月31日 10:41:58 中财网

原标题:九阳股份:九阳股份有限公司2023年第三季度报告(英文版)

Ticker: 002242 Stock Ab breviation: Joyoung
Joyoung Co., Ltd.
Interim Report of the Third Quarter 2023

The Company and all members of the Board of Directors have guaranteed that the information disclosed is true, accurate and complete, and contains no false record, misleading statements or material omissions.Important notes:
Board of Directors, the Supervisory Committee as well as all the directors, supervisors and senior management staff of Joyoung Co., Ltd. (hereinafter referred to as the “Company”) have guaranteed that this
Report contains no false record, misleading statement or material omission and shall be jointly and severally
liable for the factuality, accuracy and completeness of the information given in this Report. CEO of the Company, CFO of the Company, and Chief Accountant of Accounting Institution, declared that
the quarterly financial statements should be true, accurate and complete. In case of any discrepancy, the Chinese version of the report shall prevail. Whether the third quarterly report was audited
□ Yes √ No
I. Key Accounting Data and Financial Indicators
1. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data √Yes □ No
Reasons of Retroactive adjustment or restatement:
Changes in accounting policies

 From 1 July 2023 to 30 September 2023From 1 July 2022 to 30 September 2022 YoY ChangeFrom 1 January 2023 to 30 September 2023From 1 January 2022 to 30 September 2022YoY Change 
  Before After Adjustment AdjustmentAfter Adjustment     
      Before AdjustmentAfter AdjustmentAfter Adjustment
Operating revenues (RMB Yuan)2,463,572,007.102,214,588,864.012,214,588,864.0111.24%6,781,172,561.746,925,037,008.626,925,037,008.62-2.08%
Net profits attributable to shareholders of the Company (RMB Yuan)116,354,565.00158,189,969.70158,140,929.49-26.42%363,513,922.70504,596,360.46504,591,109.63-27.96%
Net profits attributable to shareholders of the Company before non- recurring gains and losses (RMB Yuan)112,352,748.80159,359,269.72159,310,229.51-29.48%338,498,908.81458,387,462.82458,382,211.99-26.15%
Net cash flow from operating activities (RMB Yuan)427,086,101.85909,813,991.63909,813,991.63-53.06%
Basic earnings per share (RMB Yuan /share)0.160.210.21-23.81%0.490.660.66-25.76%
Diluted earnings per share (RMB Yuan /share)0.160.210.21-23.81%0.490.660.66-25.76%
Weighted average return on net assets3.41%4.18%4.18%Decreased by 0.77 percent point10.75%12.65%12.65%Decreased by 1.90 percent point
 30 September 202331 December 2022 Flux    
  Before AdjustmentAfter AdjustmentAfter Adjustment    
Total assets (RMB)7,144,806,864.667,074,762,950.697,075,278,734.870.98%    
Net assets attributable to shareholders of the Company (RMB)3,467,063,655.793,313,074,235.883,313,590,020.064.63%    
Reasons for changes in accounting policies and correction of accounting errors Note: The Ministry of Finance issued Accounting Standards Interpretation No. 16 on November 30, 2022, which amends the scope of the
exemption from initial recognition of deferred income taxes in Accounting Standards Codification No. 18: Income Taxes (ASC: No. 18). It clarifies the
situations that are not applicable to ASC: No. 18 that exempted from initial recognition of deferred tax liabilities and deferred tax assets: Individual
transactions that are not business merger and that, at the time of the transaction, affect neither accounting profit nor taxable income (or deductible
losses) and for which the assets and liabilities are initially recognized, result in taxable temporary differences and deductible temporary differences
of equal amounts. The Company implemented this provision effective January 1, 2023 and applied the retrospective adjustment method of accounting
for individual transactions that occurred between the beginning of the earliest period for which the financial statements are presented and December
31, 2022, and restated the comparative period financial statements. 2. Non-recurring gain and loss items and amounts thereof
Unit: RMB

ItemFrom 1 July 2023 to 30 September 2023From 1 January 2023 to 30 September 2023Note
Profit or loss from disposal of non-current assets (including the write off of the provision for impairment of assets)1,114,632.3715,775,466.95Mainly due to gains and losses on disposal of assets
Government grants included in the current profit or loss (that is closely related to the operations of the Company, except for those of fixed quotas or amounts according to the nationally unified standards)4,109,859.8821,375,614.32Mainly due to government grants
Gains or losses from changes in fair value arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities and derivative financial liabilities and investment income from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities and other debt investments, excluding the effective hedging business related to the Company’s normal business operations -2,792,536.64 
Other non-operating income or expenses except the above items-33,165.90-2,714,609.11 
Less: Impact of income taxes1,191,166.456,530,747.76 
Impact of minority interests (after tax)-1,656.3098,173.87 
Total4,001,816.2025,015,013.89--
Other details of other profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
The Company does not have other details of gain or loss items that meet the definition of non-recurring gain or loss.
For non-recurring profit or loss items listed in the Interpretative Announcement on Information Disclosure of Companies Offering
Securities to the Public No. 1 — Non-recurring Profit or Loss that have been defined as recurring profit or loss items by the Company,
please provide the reasons
□ Applicable √ Not applicable
Not Applicable to the Company.
3. Changes in key accounting data and financial indicators and reasons for such changes Unit: RMB

Item30 September 202331 December 2022FluxNotes
Accounts receivable980,653,962.67687,360,521.0142.67%Mainly as a result of increased sales and longer receivable periods with related parties such as JS Global and SNHK
Receivables financing195,462,097.39427,367,850.03-54.26%Mainly due to the decrease in the receipt of notes during the period
Prepaid expense39,013,292.2915,317,578.78154.70%Mainly due to the increase in prepayments for pre- order raw materials
Other current assets191,436,763.01135,347,853.8841.44%Mainly due to the increase in value-added tax deductible during the period
Right-of-use assets41,773,984.0663,214,031.04-33.92%Mainly due to amortization of right-of-use assets during the period
Notes payable1,630,419,356.241,034,463,227.4157.61%Mainly due to the increase in payment of the notes during the period
Payroll payable15,968,734.40176,390,700.65-90.95%Mainly due to bonus payments at the beginning of the period
Tax payable87,810,282.57128,468,391.57-31.65%Mainly due to payment of prior-period taxes in the current period
Other payables103,128,523.46147,446,172.97-30.06%Mainly due to the decrease of unrecorded charges payable during the period
Current portion of non-current liabilities21,487,790.0230,821,675.68-30.28%Mainly due to amortization of lease liabilities during the period
Lease liabilities21,394,034.6434,865,866.13-38.64%Mainly due to amortization of lease liabilities during the period
ItemFrom 1 January 2023 to 30 September 2023From 1 January 2022 to 30 September 2022YoYNote
Other income22,115,084.9881,779,980.16-72.96%Mainly due to the decrease in government grants during the period
Investing Income38,007,947.6123,586,517.9561.14%Mainly due to the increase in investment income from associates during the period
Gains/(Losses) on changes in fair value-2,792,536.64-26,006,918.7089.26%Mainly due to changes in fair value of funds
Credit impairment losses-13,734,138.50-7,807,991.01-75.90%Mainly due to the increase in bad debts of receivables during the period
Asset impairment losses-4,283,143.29-9,417,363.7154.52%Mainly due to the decrease in provision for decline in value of inventories during the period
Gains on disposal of assets16,935,282.17-88,380.2119261.85 %Mainly due to the increase in gain on disposal of long- term assets during the period
Non-operating income659,231.652,888,754.87-77.18%Mainly due to the decrease in forfeiture income during the period
Non-operating expenses4,675,912.727,923,602.00-40.99%Mainly due to lower expenditure on donations during the period
Refund of taxes and surcharges140,157,462.7892,608,032.8151.34%Mainly due to the increase in export tax rebates during the period
Cash received from disposal of investments23,412,977.9510,028,500.00133.46%Mainly due to the disposal of equity interests in associates during the period
Cash received from returns on investments7,823,331.0017,624,470.20-55.61%Mainly due to the decrease in financial income during the period
Net cash received from disposal of fixed assets, intangible assets and other long-term assets1,933,448.00550,000.00251.54%Mainly due to the increase in the disposal of fixed assets during the period
Cash received relating to other investing activities215,537,704.52583,999,999.95-63.09%Mainly due to the decrease in structured deposits and wealth management recovered during the period
Cash paid to acquire fixed assets, intangible assets and other long-term assets7,218,962.19108,447,830.19-93.34%Mainly due to higher purchase of fixed assets in the prior period
Cash payments for interest expenses and distribution of dividends or profits228,905,100.00764,858,200.00-70.07%Mainly due to higher profit distribution in the prior period
Cash payments relating to other financing activities45,426,853.65300,547,731.27-84.89%Mainly due to the repurchase of treasury stock in the prior period
II. Shareholder Information
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end
Unit: share

Total number of common shareholders at the end of the Reporting Period39,621Total number of preferred shareholders with resumed voting rights at the end of the Reporting Period (if any)0

Top 10 common shareholders      
Name of shareholderNature of shareholderShareholding percentageTotal shares held at the period-endNumber of restricted shares heldPledged or frozen shares 
     StatusNumber
Shanghai Lihong Enterprise Management LimitedDomestic non- state-owned corporation50.13%384,523,746   
BILTING DEVELOPMENTS LIMITEDForeign corporation16.94%129,924,090   
Hong Kong Securities Clearing Co., Ltd.Foreign corporation3.89%29,843,577   
Joyoung Co., Ltd.- the First Phase Employee Stock Purchase PlanOthers2.09%16,000,000   
Central Huijin Investment Ltd.State-owned corporation1.46%11,201,233   
China Universal Asset Management Co.,Ltd - Social Security Fund 423 PortfolioOthers1.09%8,363,110   
Basic Pension Insurance Fund Portfolio No. 1001Others0.65%5,001,435   
Hongde Fund-Ruixing Three- Year Holding Hybrid Portfolio- CMBOthers0.37%2,866,878   
CPIC-Dividend-Personal DividendOthers0.36%2,752,412   
China Universal Fund-Private Co. Hybrid Portfolio-ICBCOthers0.33%2,512,133   
Top 10 non-restricted common shareholders      
Name of shareholderNumber of non-restricted shares heldType of shares    
  Type of sharesNumber   
Shanghai Lihong Enterprise Management Limited384,523,746RMB common stock384,523,746   
BILTING DEVELOPMENTS LIMITED129,924,090RMB common stock129,924,090   
Hong Kong Securities Clearing Co., Ltd.29,843,577RMB common stock29,843,577   
Joyoung Co., Ltd.- the First Phase Employee Stock Purchase Plan16,000,000RMB common stock16,000,000   
Central Huijin Investment Ltd.11,201,233RMB common stock11,201,233   
China Universal Asset Management Co.,Ltd - Social Security Fund 423 Portfolio8,363,110RMB common stock8,363,110   
Basic Pension Insurance Fund Portfolio No. 10015,001,435RMB common stock5,001,435   
Hongde Fund-Ruixing Three-Year Holding Hybrid Portfolio-CMB2,866,878RMB common stock2,866,878   
CPIC-Dividend-Personal Dividend2,752,412RMB common stock2,752,412   
China Universal Fund-Private Co. Hybrid Portfolio-ICBC2,512,133RMB common stock2,512,133   
Related or acting-in-concert parties among shareholders aboveIn April 2019, the shareholding structure of Bilting Developments Limited changed. MR. Xuning WANG, the actual controller of the Company, became the actual controller of Bilting Developments Limited (See Report No. 2019-027 of the Company on www.chinainfo.com.cn.). As a result, Shanghai Lihong Enterprise Management Co., Ltd. and Bilting     

 Developments Limited, both controlled by Mr. Xuning WANG, are defined as acting-in-concert parties by the Administrative Measures for the Takeover of Listed Companies. Other than the aforementioned related and acting-in-concert parties, the Company is uncertain about whether there are related or acting-in- concert parties among shareholders above.
Explanation on common shareholders participating in securities margin tradingN/A
Explanation on the existence of repurchase special accounts among the top 10 shareholdersThe number of ordinary shares held in the repurchase specialized account of Joyoung Co., Ltd. at the end of the reporting period was 4,000,000 shares, accounting for 0.52% of the total share capital of the Company.
2.Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□ Applicable √ Not applicable
III. Other Significant Events
□ Applicable √ Not applicable
IV. Quarterly Financial Statements
1. Financial Statements
1.1 Consolidated Balance Sheet
Prepared by: Joyoung Co., Ltd.
Unit: RMB

Item30 September 20231 January 2023
Current assets:  
Cash at bank and on hand1,866,264,551.501,569,780,561.99
Deposit reservation for balance  
Lending funds  
Trading financial expense  
Derivative financial assets  
Notes receivable1,153,309,731.611,397,044,352.08
Accounts receivable980,653,962.67687,360,521.01
Receivables financing195,462,097.39427,367,850.03
Prepaid expense39,013,292.2915,317,578.78
Premium receivable  
Reinsurance accounts receivable  
Provision of cession receivable  
Other receivables17,590,559.2423,864,332.45
Including: Interest receivable  
Dividend receivable  
Redemptory monetary capital for sale  
Inventories588,748,707.52680,206,435.03
Contract assets  
Holding assets for sale  
Current portion of non-current liabilities  
Other current assets191,436,763.01135,347,853.88
Item30 September 20231 January 2023
Total current assets5,032,479,665.234,936,289,485.25
Non-current assets:  
Issuance of loans and advances  
Equity expense  
Other equity investments  
Long-term receivables7,118,950.0011,628,050.00
Long-term equity investments233,368,701.48218,019,395.58
Investments in other equity instruments301,729,004.44293,766,947.76
Other non-current financial assets526,239,063.29518,498,260.84
Investment properties97,354,147.66104,729,093.62
Fixed assets602,314,096.68637,041,742.43
Construction in progress25,704,229.4324,650,115.63
Productive biological asset  
Oil and gas assets  
Right-of-use assets41,773,984.0663,214,031.04
Intangible assets117,350,815.70120,749,523.33
Development expenditures  
Goodwill  
Long-term prepaid expenses1,971,720.182,035,089.24
Deferred tax assets92,402,486.5179,657,000.15
Other non-current assets65,000,000.0065,000,000.00
Total non-current assets2,112,327,199.432,138,989,249.62
TOTAL ASSETS7,144,806,864.667,075,278,734.87
Current liabilities:  
Short-term borrowings  
Loans from the central bank  
Loans from other banks  
Trading financial liabilities  
Derivative financial liability  
Notes payable1,630,419,356.241,034,463,227.41
Accounts payable1,512,659,599.211,890,029,094.22
Unearned revenue  
Contract liabilities197,629,212.46235,079,333.95
Financial assets sold for repurchase  
Deposits from customers and interbank  
Receivings from vicariously traded securities  
Receivings from vicariously sold securities  
Payroll payable15,968,734.40176,390,700.65
Tax payable87,810,282.57128,468,391.57
Other payables103,128,523.46147,446,172.97
Including: Interest payable  
Dividend payable  
Handling fees and commissions payable  
Dividend payable for reinsurance  
Holding liabilities for sale  
Current portion of non-current liabilities21,487,790.0230,821,675.68
Other current liabilities25,691,797.6230,049,004.28
Total current liabilities3,594,795,295.983,672,747,600.73
Non-current liabilities  
Reserve fund for insurance contracts  
Long-term borrowings  
Bonds payable  
Including: Preferred stock  
Perpetual bonds  
Lease liabilities21,394,034.6434,865,866.13
Item30 September 20231 January 2023
Long-term payables  
Long-term payroll payable  
Accrued liabilities3,848,998.00 
Deferred income7,422,152.968,392,777.94
Deferred tax liabilities35,667,596.8132,292,528.50
Other non-current liabilities  
Total non-current liabilities68,332,782.4175,551,172.57
Total liabilities3,663,128,078.393,748,298,773.30
Shareholders’ equity  
Share capital767,017,000.00767,017,000.00
Other equity instruments  
Including: preferred stock  
Perpetual bond  
Capital surplus663,945,117.10652,750,093.75
Less: Treasury stock68,026,879.8468,026,879.84
Other comprehensive income47,641,756.3639,971,966.68
Special reserve  
Surplus reserve397,820,873.71397,820,873.71
General risk reserve  
Undistributed profits1,658,665,788.461,524,056,965.76
Total equity attributable to shareholders of the Company3,467,063,655.793,313,590,020.06
Minority interests14,615,130.4813,389,941.51
Total shareholders’ equity3,481,678,786.273,326,979,961.57
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY7,144,806,864.667,075,278,734.87
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
1.2 CONSOLIDATED INCOME STATEMENTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2023 Unit: RMB

ItemFor the nine months ended 30 September 2023For the nine months ended 30 September 2022 (After Adjustment)
Total revenue6,781,172,561.746,925,037,008.62
Including: Operating revenue6,781,172,561.746,925,037,008.62
Interest income  
Earned Premium  
Handling fees and commission income  
Total operating cost6,425,277,119.846,413,441,215.08
Including: Cost of sales5,059,468,353.714,935,158,506.72
Interest expense  
Handling fees and commission expenses  
Surrender value  
Net payments for insurance claims  
Net provision for insurance liability  
Bond insurance expense  
Amortized Reinsurance Expenditures  
Taxes and surcharges26,471,397.5732,881,324.70
Selling and distribution expenses892,555,999.961,019,378,838.01
General and administrative expenses246,469,168.86241,615,214.05
Research and development expenses253,378,153.81244,203,246.98
ItemFor the nine months ended 30 September 2023For the nine months ended 30 September 2022 (After Adjustment)
Financial income-53,065,954.07-59,795,915.38
Including: Interest expenses1,329,106.731,436,001.01
Interest income32,331,853.6931,900,532.90
Add: Other income22,115,084.9881,779,980.16
Investment income/(loss)38,007,947.6123,586,517.95
Including: Investment income from associates and joint ventures30,781,830.5321,275,511.67
Profits or losses arising from derecognition of financial assets measured at amortized costs  
Foreign exchange gains/(losses)  
Net exposure to hedging gains/(losses)  
Gains/(Losses) on changes in fair value-2,792,536.64-26,006,918.70
Credit impairment losses-13,734,138.50-7,807,991.01
Asset impairment losses-4,283,143.29-9,417,363.71
Losses on disposal of assets16,935,282.17-88,380.21
Operating profit412,143,938.23573,641,638.02
Add: Non-operating income659,231.652,888,754.87
Less: Non-operating expenses4,675,912.727,923,602.00
Total profit408,127,257.16568,606,790.89
Less: Income tax expenses43,388,145.4970,525,061.56
Net Profit364,739,111.67498,081,729.33
(1) Classified by continuity of operations  
Net profit from continuing operations364,739,111.67498,081,729.33
Net profit from discontinued operations  
(2) Classified by ownership of the equity  
Attributable to shareholders of the Company363,513,922.70504,591,109.63
Minority interests1,225,188.97-6,509,380.30
Other comprehensive income, net of tax7,669,789.6825,503,560.19
Other comprehensive income attributable to equity owners of the Company, net of tax7,669,789.6825,503,560.19
(1) Other comprehensive income items which will not be reclassified subsequently to profit or loss7,962,056.6825,643,923.26
1) Changes arising from remeasurement of defined benefit plan  
2) Other comprehensive income that cannot be transferred to profit or loss under the equity method  
3) Changes in fair value of investments in other equity instruments7,962,056.6825,643,923.26
4) Changes in fair value of an enterprise's own credit risk  
5) Others  
(2) Other comprehensive income items which will be reclassified subsequently to profit or loss-292,267.00-140,363.07
1) Other comprehensive income available for transfer to profit or loss under the equity method  
2) Changes in fair value of other debt investments  
3) Reclassification of financial assets to other comprehensive income  
4) Provision for credit impairment of other debt investments  
5) Cash flow hedge reserve  
Differences on translation of foreign currency financial statements-292,267.00-140,363.07
Others  
Other comprehensive income attributable to minority shareholders, net of tax  
Total comprehensive income372,408,901.35523,585,289.52
ItemFor the nine months ended 30 September 2023For the nine months ended 30 September 2022 (After Adjustment)
Attributable to equity owners of the Company371,183,712.38530,094,669.82
Attributable to minority interests1,225,188.97-6,509,380.30
Earnings per share:  
(1) Basic earnings per share0.490.66
(2) Diluted earnings per share0.490.66
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidated before (未完)
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