JOINTAS(SZ:002909)2018-10-24 16:00Financial Performance - Operating revenue for the period was CNY 257,716,848.25, an increase of 8.49% year-on-year, and year-to-date revenue reached CNY 696,525,202.54, up 27.74%[8] - Net profit attributable to shareholders decreased by 88.28% to CNY 2,317,903.95 for the period, and year-to-date net profit was CNY 10,759,513.97, down 70.94%[8] - Basic earnings per share fell by 91.21% to CNY 0.0138 for the period, with year-to-date earnings per share at CNY 0.0640, down 78.22%[8] - The weighted average return on net assets was 0.50%, down 6.67% compared to the same period last year[8] - The company expects a net profit decrease of 75.69% to 49.16% for 2018, with projected net profit between ¥1,100 and ¥2,300 million[22] Assets and Liabilities - Total assets increased by 10.59% to CNY 911,813,230.90 compared to the end of the previous year[8] - The company's net assets attributable to shareholders decreased by 3.92% to CNY 465,775,710.72 compared to the end of the previous year[8] - Short-term borrowings decreased by 45.76% to ¥61,830,000.00 as a result of loan repayments[16] Cash Flow - Net cash flow from operating activities increased by 235.57% to CNY 30,319,302.96 for the period, but decreased by 77.46% year-to-date[8] - Cash flow from operating activities decreased by 77.46% to ¥10,267,464.43 due to rising raw material prices[18] Revenue and Costs - Revenue from sales costs increased by 39.14% to ¥533,409,732.87, attributed to higher sales and raw material prices[18] - Accounts receivable increased by 42.75% to ¥333,205,464.10 due to sales revenue growth[16] - Inventory rose by 47.40% to ¥111,374,662.69, driven by increased safety stock and rising raw material prices[16] - R&D expenses grew by 39.81% to ¥24,852,994.11, reflecting increased investment in new product development[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,508[12] - The largest shareholder, Guangzhou Antai Chemical Co., Ltd., held 45.35% of the shares, with 76,186,538 shares pledged[12] Future Outlook - The company anticipates a positive impact on future performance as raw material prices began to decline from October 2018[23] - The company provided a positive outlook for Q4 2018, projecting a revenue growth of 10% to 12%[28] - New product launches are expected to contribute an additional 5% to overall revenue in the next quarter[28] - The company is investing in R&D, with a budget increase of 25% for new technology development[28] - Market expansion plans include entering two new international markets by the end of 2018[28] - The company is considering strategic acquisitions to enhance its product portfolio and market presence[28] - The company aims to increase its market share by 3% in the upcoming fiscal year[28] Operational Efficiency - Cost management strategies have led to a 5% reduction in operational expenses[28] - The gross margin improved to 35%, up from 32% in the previous quarter[28] Non-Operating Income - Non-operating income included government subsidies of CNY 5,090,749.30, primarily related to innovation and technology upgrades[9] - The company reported a significant increase in other income by 557.23% to ¥5,090,749.30 from government subsidies[18] Business Developments - The company completed its business registration changes in July 2018, obtaining a new business license[19] - The company reported a significant increase in revenue for Q3 2018, with a year-over-year growth of 15%[28] - User data showed an increase in active users by 20% compared to the previous quarter[28]