BVEA(SH:600379)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 14.15% to CNY 30,611,043.45 for the first nine months of the year[7]. - Operating revenue for the first nine months was CNY 612,482,283.65, a decline of 10.50% year-on-year[7]. - Basic earnings per share decreased by 14.17% to CNY 0.0927[7]. - The company reported a net profit of CNY 174,477,451.79, compared to CNY 168,961,728.21 in the previous year, an increase of about 3%[23]. - Total profit for the first three quarters of 2020 was CNY 34,870,234.76, down 15.5% from CNY 41,145,776.52 in the first three quarters of 2019[28]. - The company reported a total operating revenue of CNY 612,482,283.65 for the first three quarters of 2020, a decline of 10.5% compared to CNY 684,325,139.40 in the same period of 2019[27]. - The company incurred a total tax expense of CNY 4,259,191.31 for the first three quarters of 2020, down from CNY 5,490,257.11 in the same period of 2019[28]. Assets and Liabilities - Total assets increased by 4.04% to CNY 865,541,752.40 compared to the end of the previous year[7]. - Current assets totaled CNY 656,045,771.13, compared to CNY 614,661,192.81 in the previous year, reflecting an increase of about 6.7%[23]. - Total liabilities rose to CNY 313,139,973.46, up from CNY 285,674,554.17, indicating an increase of around 9.8%[22]. - Non-current assets totaled CNY 209,495,981.27, down from CNY 217,243,275.05, reflecting a decrease of about 3.6%[23]. - The total liabilities to equity ratio stands at approximately 0.57, indicating a stable leverage position[22]. Cash Flow - Net cash flow from operating activities increased by 46.69% to CNY 40,477,468.36 compared to the same period last year[7]. - Cash received from tax refunds grew by 42.97% to ¥15,317,043.85, primarily due to increased export tax refunds[15]. - Cash paid for various taxes decreased by 36.47% to ¥17,910,924.28, mainly due to lower VAT and corporate income tax payments[15]. - The net cash flow from operating activities for Q3 2020 was CNY 40,477,468.36, an increase of 46.4% compared to CNY 27,592,997.07 in Q3 2019[36]. - The company’s cash inflow from operating activities totaled ¥233,596,453.90 in the first three quarters of 2020, a decrease of 16.8% compared to ¥280,857,553.40 in the first three quarters of 2019[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,840[10]. - The largest shareholder, Shaanxi Baoguang Group Co., Ltd., holds 26.96% of the shares[10]. - The company plans to reduce its second-largest shareholder's stake by up to 19,800,000 shares, approximately 6% of total shares, within six months[16]. Management Changes - The chairman of the board, Li Junwang, resigned and was succeeded by Liu Wuzhou, effective immediately[17]. Government Subsidies and Other Income - Government subsidies recognized in the current period amounted to CNY 136,313.21, with a total of CNY 3,215,114.08 for the year-to-date[7]. - The company reported a non-operating income of CNY 119,397.77 for the current period[9]. - Other income increased by 50.45% to ¥3,215,114.08, attributed to higher government subsidies received[13]. Investment and Projects - The investment project in Belarus has been terminated due to changes in investment conditions and uncontrollable risks[16]. - Construction in progress surged by 240.76% to ¥13,613,632.61 as a result of new investments in technological upgrades and civil engineering projects[12]. Research and Development - Research and development expenses for the first three quarters of 2020 totaled CNY 25,070,739.30, a decrease of 8.3% from CNY 27,351,077.52 in the same period of 2019[27]. - Research and development expenses for the first nine months of 2020 were CNY 22,656,064.97, slightly down from CNY 23,263,857.51 in the same period of 2019[32].