Financial Performance - Operating revenue decreased by 5.15% to CNY 685,645,655.59 for the first nine months compared to the same period last year[5] - Net profit attributable to shareholders decreased by 26.52% to CNY 92,145,320.82 for the first nine months compared to the same period last year[5] - Basic earnings per share decreased by 29.54% to CNY 1.67[5] - Total operating revenue for Q3 2020 was CNY 271,908,375.96, an increase from CNY 156,542,096.58 in Q3 2019, representing a growth of approximately 73.5%[24] - Net profit for the first three quarters of 2020 was CNY 678,663,949.59, up from CNY 579,861,245.91 in the same period of 2019, reflecting a growth of approximately 17.1%[21] - The net profit for Q3 2020 was ¥18,702,368.79, compared to ¥33,220,300.05 in Q3 2019, indicating a decrease of about 43.7%[26] - The total profit for Q3 2020 amounted to ¥23,129,589.24, down from ¥40,063,419.43 in Q3 2019, reflecting a decline of approximately 42.2%[28] - The company's operating profit for Q3 2020 was ¥22,980,870.61, compared to ¥40,063,419.43 in the same period last year, a decrease of around 42.5%[28] - The basic earnings per share for Q3 2020 were ¥0.34, down from ¥0.60 in Q3 2019, a decline of approximately 43.3%[26] - The total comprehensive income for Q3 2020 was ¥18,702,368.79, down from ¥33,220,300.05 in Q3 2019, reflecting a decrease of about 43.7%[26] Assets and Liabilities - Total assets increased by 67.97% to CNY 2,825,281,683.29 compared to the end of the previous year[5] - The total assets of the company reached ¥2,825,281,683.29, up from ¥1,682,024,412.52 at the end of the previous year[16] - Total assets as of September 30, 2020, amounted to CNY 2,835,530,928.33, compared to CNY 1,686,561,924.97 at the end of 2019, showing an increase of about 68.1%[20] - The company's total liabilities increased slightly to ¥777,773,217.90 from ¥773,549,991.24[16] - Total liabilities as of September 30, 2020, were CNY 797,516,946.78, up from CNY 772,139,670.96 at the end of 2019, indicating a growth of approximately 3.3%[20] - Total liabilities reached RMB 772,139,670.96, with current liabilities accounting for RMB 771,939,670.96[45] Shareholder Information - Net assets attributable to shareholders increased by 122.70% to CNY 2,022,753,460.25 compared to the end of the previous year[5] - The total number of shareholders reached 16,514 at the end of the reporting period[8] - The top shareholder, Gongdianhai, holds 37.45% of the shares, totaling 26,548,992 shares[8] - Shareholders' equity totaled CNY 2,038,013,981.55 as of September 30, 2020, compared to CNY 914,422,254.01 at the end of 2019, representing an increase of about 123.5%[21] Cash Flow - The company reported a net cash flow from operating activities of CNY -127,149,146.11 for the first nine months[5] - Total cash inflow from operating activities for the first nine months of 2020 was CNY 437,653,603.13, down from CNY 464,870,008.46 in the same period of 2019[33] - Cash outflow from operating activities for the first nine months of 2020 was CNY 564,802,749.24, compared to CNY 753,681,260.90 in 2019[34] - Cash inflow from financing activities in the first nine months of 2020 was CNY 1,216,360,231.48, significantly higher than CNY 245,536,226.26 in 2019[34] - The company reported a significant increase in cash flow from financing activities, indicating a strong capital raising effort[34] - The net cash flow from financing activities for the first nine months of 2020 was CNY 1,018,918,487.54, compared to CNY 58,073,751.88 in 2019[34] - The ending cash and cash equivalents balance as of September 2020 was CNY 1,001,676,173.28, up from CNY 42,307,204.88 at the end of September 2019[34] - The net increase in cash and cash equivalents for the period was 879,770,328.48 RMB, a turnaround from a decrease of -260,940,485.33 RMB in the same period last year[37] Expenses and Impairments - Research and development expenses decreased by 31.64% to ¥24,946,368.59, impacted by the COVID-19 pandemic[11] - Credit impairment losses increased by 61.73% to ¥38,353,766.29, due to higher provisions for accounts receivable and contract assets[11] - The company reported a credit impairment loss of ¥29,118,138.39 in Q3 2020, compared to ¥6,292,973.68 in Q3 2019, indicating a significant increase in credit losses[28] - Employee compensation payable rose by 89.86% to ¥36,792,751.81, reflecting bonuses accrued but not yet paid[9] - The company reported a significant decrease in cash paid to employees, down 41.90% to ¥55,668,096.06, due to unpaid bonuses[12] - Cash outflow for purchasing goods and services decreased to 410,310,892.46 RMB from 534,081,383.14 RMB, representing a 23.2% reduction[36] Inventory and Contract Assets - Accounts receivable decreased by 70.83% to ¥760,000.00 due to the maturity of notes receivable[9] - Contract assets reached ¥922,276,319.71, reflecting the reclassification of inventory under the new revenue recognition standards[9] - The company reported a decrease in inventory from CNY 567,498,947.98 in 2019 to CNY 7,536,715.04 in 2020, indicating a reduction of approximately 98.7%[19] - Inventory decreased significantly by RMB 560,582,966.74, totaling RMB 6,915,981.24[44] Revenue Recognition Changes - The company executed the new revenue recognition standard starting January 1, 2020, which reclassified "inventory" into "contract assets" and "inventory" categories[45]