CNGR(SZ:300919)2022-10-25 16:00Revenue and Profit Growth - Revenue for the third quarter reached ¥8,056,165,397.39, an increase of 46.01% compared to the same period last year[3] - Net profit attributable to shareholders was ¥424,082,645.16, representing a growth of 52.88% year-over-year[3] - Basic earnings per share increased by 42.86% to ¥0.70, while diluted earnings per share also rose by 42.86% to ¥0.70[3] - Revenue for the first nine months of 2022 reached ¥22,285,812,095.76, a year-on-year increase of 60.64% driven by significant growth in lithium battery precursor material sales and prices[7] - Net profit for the same period saw a substantial increase, with retained earnings rising to ¥2,285,702,373.16, up 75.45% compared to the previous year[7] - The net profit for Q3 2022 was CNY 1,086,036,877.26, an increase of 42% compared to CNY 765,109,998.45 in Q3 2021[23] - The company achieved a total profit of CNY 1,306,781,945.47, up from CNY 907,147,946.90 in the same quarter last year, representing a growth of approximately 44%[23] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥42,799,499,158.96, reflecting a 51.77% increase from the end of the previous year[3] - The total assets of the company reached CNY 42,799,499,158.96, compared to CNY 28,199,762,284.09 in the previous year, showing a growth of approximately 51.8%[22] - The total liabilities increased to CNY 28,987,461,675.30 from CNY 17,577,201,389.40, representing a rise of about 64.5%[22] - Shareholders' equity attributable to the parent company reached ¥11,038,947,136.11, up 12.27% from the end of last year[3] - The company's equity attributable to shareholders rose to CNY 11,038,947,136.11, compared to CNY 9,832,492,979.69, indicating an increase of approximately 12.3%[22] Cash Flow and Financial Activities - Cash flow from operating activities showed a significant decline, with a net outflow of ¥5,813,980,032.79, a 704.90% increase in outflow compared to the previous year[3] - The net cash flow from operating activities was negative at -¥5,813,980,032.79, a 704.90% decline, primarily due to a significant increase in inventory and receivables[7] - Financing activities resulted in a net cash inflow of ¥14,918,851,132.49, up 242.83%, due to increased bank loans and bond issuance[7] - Total cash inflow from financing activities reached 25,850,921,874.89 CNY, up from 7,186,460,186.04 CNY year-over-year[26] - The net cash flow from financing activities was 14,918,851,132.49 CNY, significantly higher than 4,351,680,405.47 CNY in the previous year[26] Investment and Expansion - The company plans to raise a total of up to 668 million CNY through a private placement to fund various nickel and iron phosphate projects and to supplement working capital[13] - The company signed a project with DNPL to develop a low-ice nickel project in Indonesia with an annual production capacity of 27,500 tons, involving a total investment of approximately $150.92 million[16] - The company acquired 100% equity of Debonair Holdings Private Limited for no more than $200.32 million, which holds a 50.1% stake in PT Debonair Nickel Indonesia, a project company with an annual production capacity of 27,500 tons of nickel metal equivalent low-ice nickel[16] - The company invested 300 million RMB in Ruipulan Jun Energy Co., Ltd., focusing on R&D, production, and sales of lithium-ion battery systems for new energy vehicles[16] - The company is developing a refined nickel project in Indonesia with an annual production capacity of 50,000 tons, with a total investment of approximately 1.84 billion RMB[17] - The company established several new subsidiaries to enhance its market competitiveness and business development, including multiple wholly-owned and holding subsidiaries in Singapore and Guizhou[19] Operating Costs and Expenses - Operating costs increased to ¥19,845,751,265.37, reflecting a 62.96% rise in line with revenue growth[7] - Financial expenses surged by 262.13% to ¥316,101,353.71, attributed to increased financing costs due to expanded business operations[7] - Management expenses rose to ¥361,174,011.46, a 134.10% increase, mainly due to higher employee compensation and share-based payment expenses[7] - Research and development expenses reached CNY 619,750,034.62, up from CNY 491,848,834.61, reflecting a growth of approximately 26% year-over-year[23] - The total tax expenses amounted to CNY 220,745,068.21, compared to CNY 142,037,948.45 in the same quarter last year, reflecting an increase of about 55%[23] Inventory and Receivables - Inventory increased by 36.80% to ¥6,599,588,312.88, driven by growth in production and sales scale[6] - Accounts receivable increased to CNY 5,693,088,400.40 from CNY 4,451,798,531.33, reflecting a growth of approximately 27.9%[21] - Inventory levels rose significantly to CNY 6,599,588,312.88, up from CNY 4,824,423,975.09, marking an increase of around 36.7%[21] Shareholder Information - The company has a total of 344 million restricted shares held by Hunan Zhongwei Holdings Group Co., Ltd., with no shares released during the period[11] - The company’s major shareholders include several investment funds, with the largest being Hunan Zhongwei Holdings Group Co., Ltd. holding 344 million shares[11] - The company is set to unlock shares held by Beijing Junlian Chengyuan Equity Investment Partnership, with 21,599,000 shares released during the period[11]