GHMC(SZ:000523)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥783,320,612.90, a decrease of 46.13% compared to the same period last year[1] - The net profit attributable to shareholders was -¥48,684,621.98, representing a 95.39% increase in losses year-over-year[1] - The net profit excluding non-recurring gains and losses was -¥39,719,800.94, a 64.88% increase in losses compared to the previous year[1] - The net loss for Q3 2021 was CNY 123,194,709.78, compared to a net loss of CNY 1,205,625,505.19 in the previous year, showing an improvement in loss margin[27] - The total comprehensive income attributable to the parent company for Q3 2021 was -114,371,021.11 CNY, compared to -1,169,969,778.12 CNY in the same period last year[28] - The basic and diluted earnings per share for Q3 2021 were both -0.18 CNY, an improvement from -1.86 CNY year-over-year[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,963,025,183.40, down 9.35% from the end of the previous year[1] - The company's total assets decreased to CNY 2,963,025,183.40 from CNY 3,268,754,618.02, reflecting a decline of approximately 9.3%[25] - Total liabilities amounted to CNY 6,758,606,500.65, down from CNY 6,941,141,225.49, indicating a reduction of about 2.6%[25] - The company's total equity was reported at CNY -3,672,386,607.47, indicating a negative equity position[34] - The company's net assets were reported at -2.585 billion yuan at the end of 2020, leading to a "delisting risk warning" on May 6, 2021[20] Cash Flow - The company reported a net cash flow from operating activities of -¥60,218,926.41, a 95.40% increase in cash outflow compared to the previous year[1] - Cash flow from operating activities for Q3 2021 was -60,218,926.41 CNY, compared to -1,309,571,077.93 CNY in the previous year[29] - Total cash inflow from operating activities was 2,243,556,572.96 CNY, down from 6,592,887,556.03 CNY year-over-year[30] - Cash outflow from operating activities totaled 2,303,775,499.37 CNY, compared to 7,902,458,633.96 CNY in the same period last year[30] - The ending balance of cash and cash equivalents was 404,227,972.17 CNY, down from 683,609,484.21 CNY year-over-year[31] Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,005[10] - The largest shareholder, Guangzhou Light Industry Trade Group, holds 31.04% of shares, totaling 194,783,485 shares[10] - The second-largest shareholder, Guangzhou State-owned Assets Development Group, holds 14.22% of shares, totaling 89,256,197 shares[10] Acquisitions and Investments - The company has completed the acquisition of 100% equity in Guangzhou Huatang Food Co., Ltd., with a total payment of RMB 236,292,760, representing 55% of the total acquisition price[12] - The company has a pending payment of RMB 16,755,948 for the acquisition of Guangzhou Huatang Food Co., Ltd.[12] - The company has frozen equity worth RMB 150 million in its subsidiary Huatang Food and RMB 83 million in another subsidiary, Shaoguan Langqi[13] - The company has terminated the agreement to transfer 25% equity in Jiangsu Qiheng Agricultural Technology Co., Ltd., with the initial payment of RMB 60,899,250 retained as compensation for losses[14] - The company has signed a land compensation agreement for a total area of 119,761.21 square meters, with a total compensation amount of RMB 2.156 billion[14] - The company has received a total of RMB 1,934,278,577.3 in land compensation payments, but RMB 474,675,109.53 is currently frozen due to court orders[14] Debt and Legal Issues - As of September 30, 2021, the company's total overdue debts amounted to 920.55 million yuan, accounting for 35.61% of the audited net assets at the end of 2020[17] - The company had 47 frozen bank accounts as of July 23, 2021, with a total frozen fund amounting to approximately 294.04 million yuan[18] - The registered capital of frozen equity in subsidiaries and associated companies totaled approximately 954.44 million yuan as of September 30, 2021[18] - The company is undergoing a restructuring process initiated by a creditor, with the court accepting the application on September 29, 2021[19] - The company is taking legal actions to address debts arising from its bulk trading business[18] Research and Development - Research and development expenses amounted to ¥5,126,576.81, a decrease of 55.65% year-over-year[7] - Research and development expenses for Q3 2021 were CNY 5,126,576.81, significantly lower than CNY 11,559,889.29 in the previous year, indicating a cutback in innovation spending[27] Employee Compensation - The company reported a decrease in employee compensation liabilities to CNY 27,158,534.64 from CNY 41,915,439.17, reflecting a reduction in workforce costs[25] Regulatory Compliance - The company is actively cooperating with regulatory investigations regarding information disclosure violations[19]