CXPC(SH:600078)2021-10-29 16:00Financial Performance - The company's operating revenue for the third quarter reached ¥1,010,645,781.49, representing a year-on-year increase of 29.59%[5] - Net profit attributable to shareholders was ¥105,194,307.83, an increase of 8,740.50% compared to the same period last year[5] - The basic earnings per share for the quarter was ¥0.16, reflecting a significant increase of 7,900.00% year-on-year[6] - Total operating revenue for the first three quarters of 2021 reached ¥2,491,130,164.92, an increase of 10.2% compared to ¥2,260,684,894.54 in the same period of 2020[24] - Net profit for the first three quarters of 2021 was ¥156,969,887.97, a significant increase from ¥41,915,915.41 in the first three quarters of 2020, representing a growth of 274.5%[25] - Operating profit for the first three quarters of 2021 was ¥203,624,475.84, compared to ¥48,836,405.65 in the same period of 2020, indicating a growth of 316.5%[25] - Basic earnings per share for the first three quarters of 2021 was ¥0.14, up from ¥0.01 in the same period of 2020[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,240,945,800.78, a decrease of 3.44% from the end of the previous year[6] - The company's total assets as of September 30, 2021, amounted to 5,240,945,800.78 RMB, a decrease from 5,427,605,985.51 RMB at the end of 2020[19] - The total liabilities of the company as of September 30, 2021, were 5,266,795,436.62 RMB, down from 5,457,832,246.77 RMB at the end of 2020[20] - The company's total liabilities amounted to ¥5,457,832,246.77, reflecting the overall financial obligations[33] - The total current liabilities were reported at ¥5,024,456,714.28, with short-term borrowings amounting to ¥3,715,442,000.00[32] - The company reported a total non-current liabilities of ¥433,375,532.49, with long-term borrowings at ¥331,540,000.00[33] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥377,349,132.14, showing a decline of 8.55% compared to the same period last year[5] - The net cash flow from operating activities for the first three quarters of 2021 was ¥377,349,132.14, slightly down from ¥412,643,335.26 in the first three quarters of 2020[29] - Cash inflow from operating activities totaled ¥1,988,178,885.05 in the first three quarters of 2021, compared to ¥1,780,313,684.51 in the same period of 2020, reflecting an increase of 11.7%[28] - The company’s cash outflow from investing activities was ¥40,673,898.12 in the first three quarters of 2021, a decrease from ¥188,873,756.32 in the same period of 2020[29] - The net cash flow from financing activities was -¥244,381,615.99 in the first three quarters of 2021, an improvement from -¥519,370,167.57 in the same period of 2020[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,709[11] - Jiangyin Chengxing Industrial Group Co., Ltd. held 25.78% of the shares, with 170,826,693 shares frozen[11] - Jiangyin Hanying Investment Co., Ltd. held 16.01% of the shares, with 106,107,921 shares pledged[11] - As of September 30, 2021, the controlling shareholder, Jiangyin Chengxing Industrial Group, has pledged 170,826,693 shares, representing 25.78% of the company's total equity[14] Operational Challenges - The company experienced production stoppages at its Jiangyin plant from April 9 to May 29, 2021, and again from September 23 to October 29, 2021, due to safety permit issues and equipment maintenance[13] - The company is facing a significant financial strain, with a total of 2,223,347,882.40 RMB in funds occupied by the controlling shareholder and related parties as of September 30, 2021[14] - The company is involved in litigation with a total amount of 2,140,362,889.60 RMB as of the report date[15] - The company is facing considerable uncertainty regarding its ability to turn its negative net assets into positive and to receive an unqualified audit opinion, posing a significant risk of delisting[16] Inventory and Assets Valuation - The company reported a significant decrease in inventory, with current inventory at 715,501,100.06 RMB compared to 855,181,516.76 RMB in the previous year[17] - The company’s inventory stood at ¥855,181,516.76, remaining stable compared to the previous year[31] - The fixed assets were valued at ¥2,375,297,558.54, with a slight decrease of ¥453,558.91 compared to the previous period[32] - The company's net assets showed a negative value of -25,849,635.84 RMB as of September 30, 2021, indicating a decline from -30,226,261.26 RMB at the end of 2020[20] - The total equity attributable to shareholders was reported as -¥476,148,123.24, indicating a negative equity position[33] Accounting Standards - The company implemented a new leasing standard starting January 1, 2021, affecting the classification of certain assets and liabilities[33]