Lion(SH:605358)2020-10-27 16:00Financial Performance - Operating revenue for the first nine months reached CNY 1,032,761,525.10, an increase of 18.41% year-on-year[5] - Net profit attributable to shareholders increased by 19.40% to CNY 130,859,270.27 for the first nine months[5] - Total operating revenue for Q3 2020 reached ¥384,240,895.19, a 34.7% increase from ¥285,140,416.67 in Q3 2019[23] - Net profit for Q3 2020 was ¥57,569,106.26, compared to ¥33,408,591.40 in Q3 2019, representing a 72.2% increase[24] - Total operating revenue for Q3 2020 was CNY 120,642,145.03, an increase of 28.2% compared to CNY 94,188,394.48 in Q3 2019[27] - Net profit for Q3 2020 reached CNY 3,704,088.18, compared to a net loss of CNY 4,627,697.71 in Q3 2019[29] - The company reported a significant increase in sales revenue, with total revenue for the first nine months of 2020 at CNY 337,273,156.32, up from CNY 307,226,927.78 in the same period of 2019[27] Assets and Liabilities - Total assets increased by 8.51% to CNY 5,162,437,160.17 compared to the end of the previous year[5] - Total liabilities amounted to CNY 2,920,236,985.50, up from CNY 2,798,396,095.23, which is an increase of about 4.4%[19] - Current liabilities reached approximately $1.67 billion, while total liabilities were around $2.80 billion[37] - Total current assets were approximately $487.46 million, with inventory at around $120.73 million[39] - The total non-current assets increased to CNY 3,111,352,168.65 from CNY 2,960,975,835.34, representing a growth of about 5.1%[18] Shareholder Information - Net assets attributable to shareholders increased by 18.04% to CNY 1,787,071,015.30 compared to the end of the previous year[5] - The total number of shareholders at the end of the reporting period was 43,578[10] - The top shareholder, Wang Minwen, holds 19.88% of the shares, totaling 79,615,720 shares[10] Cash Flow - Net cash flow from operating activities increased by 163.24% to CNY 47,808,234.79 compared to the same period last year[5] - Cash flow from operating activities for the first nine months of 2020 was CNY 1,052,242,517.63, compared to CNY 809,934,802.82 in the same period of 2019[30] - The net cash flow from operating activities for Q3 2020 was CNY 47,808,234.79, a significant increase from CNY 18,161,296.78 in Q3 2019, reflecting improved operational efficiency[31] - The total cash inflow from financing activities for the first three quarters of 2020 was CNY 327,252,506.85, compared to CNY 193,000,000.00 in the same period of 2019, indicating a strong financing effort[33] Expenses and Income - Tax expenses rose by 167.64% to ¥18,121,179.38 compared to the same period last year, mainly due to increased profits from the parent company[14] - Cash received from tax refunds increased by 419.96% to ¥55,104,943.65, primarily due to VAT refunds[14] - Other income increased by 39.80% to ¥48,220,137.61, primarily due to an increase in government subsidy income[14] - The company incurred financial expenses of CNY 2,298,345.88 in Q3 2020, which is consistent with CNY 2,295,782.75 in Q3 2019[27] Research and Development - Research and development expenses for Q3 2020 totaled ¥25,626,153.15, a decrease of 2.4% from ¥27,283,513.42 in Q3 2019[23] - Research and development expenses for Q3 2020 were CNY 4,937,112.74, slightly down from CNY 5,361,526.60 in Q3 2019[27] Projects and Expansion - The 12-inch silicon wafer project has passed product verification from several customers and is in the process of expansion, with a target monthly production capacity of 150,000 wafers by December 2021[15] - The gallium arsenide chip project has completed an annual production capacity of 30,000 pieces and aims to reach 70,000 pieces by June 2021[16] Accounting Changes - The company adopted the new revenue recognition standard effective January 1, 2020, without retrospective adjustments to prior periods[41] - The company adjusted its reporting of "prepayments" to "contract liabilities" amounting to approximately $2.15 million due to new revenue recognition standards[38] - The company did not apply retrospective adjustments for the new leasing standard[42] - The financial report indicates no significant impact on prior financial results due to the new accounting policies[41]