2020-11-11 16:00Financial Performance - In Q3 2020, the company's revenue reached RMB 7,638 million, a 13.0% increase quarter-over-quarter and a 31.7% increase year-over-year[6]. - The net profit attributable to shareholders was RMB 1,694 million, with an EBITDA of RMB 4,455 million, both marking historical highs[6]. - The company expects full-year revenue growth to be revised upwards to 23% to 25%[6]. - The company's operating revenue for the first nine months of 2020 reached CNY 20,799,659 thousand, representing a 30.2% increase compared to CNY 15,971,502 thousand in the same period last year[15]. - Total operating revenue for Q3 2020 reached RMB 7,638,160 thousand, a 31.7% increase from RMB 5,799,103 thousand in Q3 2019[24]. - Net profit for Q3 2020 was RMB 1,745,809 thousand, a significant increase from RMB 611,271 thousand in Q3 2019, representing a growth of 185.5%[25]. - The total profit for Q3 2020 was RMB 1,889,462 thousand, compared to RMB 638,330 thousand in Q3 2019, marking an increase of 195.5%[25]. - The company reported a basic earnings per share of RMB 0.23 for Q3 2020, up from RMB 0.16 in Q3 2019[26]. Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months of 2020 was RMB 8,798 million, a 714.1% increase year-over-year[8]. - The company reported a significant increase in cash and cash equivalents, totaling CNY 82,048,100 thousand, a 120.2% increase from CNY 37,268,473 thousand at the end of the previous year[15]. - The company's cash inflow from operating activities for the first three quarters of 2020 was CNY 27,710,025 thousand, an increase of 39.5% compared to CNY 19,903,483 thousand in the same period of 2019[27]. - The net cash flow from operating activities was CNY 8,797,987 thousand, significantly up from CNY 1,080,661 thousand year-over-year[27]. - The net cash flow from financing activities surged by 725.5% to 73,168,081 thousand RMB, influenced by new financing and bond issuance[16]. - The company's cash and cash equivalents at the end of the period reached CNY 58,759,278 thousand, up from CNY 8,363,793 thousand year-over-year[28]. Assets and Liabilities - The total assets at the end of Q3 2020 were RMB 197,602 million, a 72.1% increase compared to the end of the previous year[8]. - Total current assets rose to 96,438,565 thousand RMB, up from 47,976,705 thousand RMB year-over-year[20]. - Total liabilities increased to 54,187,118 thousand RMB, compared to 43,558,039 thousand RMB in the previous year[22]. - The company’s total liabilities increased significantly, with short-term borrowings rising to CNY 1,022,565 thousand, a 46.5% increase from CNY 698,117 thousand at the end of the previous year[15]. - The company reported a significant increase in fixed assets to 47,456,099 thousand RMB from 36,866,121 thousand RMB[21]. Research and Development - The R&D expenditure as a percentage of revenue was 16.2%, a decrease of 6.0 percentage points compared to the previous year[8]. - The company’s R&D efforts are focused on advancing technology nodes, with 14/28 nm technology accounting for 14.6% of wafer revenue in Q3 2020, up from 9.1% in Q2 2020[11]. - Research and development expenses for Q3 2020 were RMB -1,101,307 thousand, a decrease of 14.7% compared to RMB -1,291,879 thousand in Q3 2019[24]. Market and Sales - The company sold 1,440,531 wafers in Q3 2020, a 9.5% increase compared to Q3 2019[9]. - The capacity utilization rate was 97.8% in Q3 2020, up from 97.0% in Q3 2019[9]. - Revenue from mainland China and Hong Kong accounted for 69.7% of total revenue in Q3 2020, up from 60.5% in Q3 2019[10]. - The proportion of revenue from smartphones in Q3 2020 was 46.1%, slightly down from 46.7% in Q2 2020 but up from 42.3% in Q3 2019[11]. Other Financial Metrics - The company reported a decrease in tax expenses to RMB -143,653 thousand in Q3 2020 from RMB -27,059 thousand in Q3 2019[25]. - Other income for Q3 2020 was RMB 954,536 thousand, compared to RMB 403,069 thousand in Q3 2019, indicating a growth of 136.3%[24]. - The company reported a net loss of CNY 106,348 thousand from financial instruments measured at fair value through profit or loss for the current period[12]. - Investment income decreased by 62.7% to 272,915 thousand RMB due to reduced earnings from joint ventures[16]. - The company’s investment income from joint ventures and associates was CNY 121,846 thousand for the current period, with a year-to-date total of CNY 349,936 thousand[12].