ETERN(SH:600105)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders for the first nine months of 2020 was -¥152,701,341.94, a decrease of 993.51% year-on-year[10] - Operating revenue for the first nine months of 2020 was ¥2,240,155,670.89, down 14.38% from the same period last year[10] - The decline in net profit was primarily due to reduced orders from major telecom operators and a sluggish automotive market, resulting in a decrease of ¥16,979.13 million compared to the previous year[11] - Net profit for the first three quarters of 2020 was ¥174,240,578.73, down from ¥328,450,873.05 in the same period of 2019, indicating a decline of 47%[48] - The company reported a net profit of 3,832,128.33 CNY for the current period, compared to a net loss of 152,784,925.82 CNY in the same period last year[55] - The total comprehensive income for the period was -23,872,395.11 RMB, a significant decrease from 49,496,602.92 RMB in the previous year[67] Cash Flow - The net cash flow from operating activities for the first nine months was -¥111,566,158.81, a decline of 135.11% compared to the previous year[10] - The net cash flow from operating activities for the first three quarters of 2020 was -111,566,158.81 RMB, compared to 317,760,340.71 RMB in the same period of 2019, indicating a significant decline[67] - Total cash inflow from operating activities decreased to 2,470,846,002.85 RMB in 2020 from 3,184,802,231.54 RMB in 2019, reflecting a drop of approximately 22.3%[67] - The cash outflow from operating activities was 2,582,412,161.66 RMB in 2020, down from 2,867,041,890.83 RMB in 2019, showing a reduction of about 9.9%[67] - Cash inflow from investment activities increased to 295,999,754.92 RMB in 2020, compared to 38,567,240.03 RMB in 2019, marking a substantial increase[67] - The net cash flow from investment activities improved to 60,361,412.40 RMB in 2020, reversing from -825,088,879.41 RMB in 2019[67] - Cash inflow from financing activities totaled 1,312,966,385.14 RMB in 2020, down from 2,114,807,000.00 RMB in 2019, indicating a decrease of approximately 38%[69] - The net cash flow from financing activities was 234,361,560.48 RMB in 2020, compared to 708,001,989.62 RMB in 2019, reflecting a decline of about 66.9%[69] Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,442,386,210.26, an increase of 3.49% compared to the end of the previous year[10] - The company's total current assets reached approximately 3.11 billion RMB, slightly up from 3.09 billion RMB at the end of 2019, with cash and cash equivalents increasing to approximately 948.89 million RMB from 757.51 million RMB[36] - The company's total liabilities increased to approximately 3.31 billion RMB as of September 30, 2020, compared to 3.06 billion RMB at the end of 2019, with current liabilities totaling approximately 2.46 billion RMB[42] - The total assets of the company reached approximately 6.44 billion RMB as of September 30, 2020, up from 6.23 billion RMB at the end of 2019[42] - The company's equity attributable to shareholders increased to approximately 2.78 billion RMB as of September 30, 2020, compared to 2.73 billion RMB at the end of 2019[42] - The total liabilities were reported at 3,055,888,264.75, with current liabilities comprising 2,080,130,454.77, reflecting a manageable debt level[79] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,916, with the largest shareholder, Yongding Group Co., Ltd., holding 32.61% of the shares[19] - The controlling shareholder, Yongding Group, plans to increase the bank credit guarantee for the company from 390 million RMB to 490 million RMB, with a total guarantee amount provided by the controlling shareholder and its subsidiaries amounting to 315.96 million RMB as of September 30, 2020[31] Investment and R&D - R&D expenses in Q3 2020 amounted to ¥44,165,271.13, a 40.8% increase compared to ¥31,345,637.21 in Q3 2019[51] - The company experienced a significant loss in investment income of 13,136,448.21 CNY, contrasting with a gain of 17,215,860.89 CNY in the previous year[61] - The company reported a significant decrease in investment income from joint ventures, with a decrease of ¥5,324.81 million year-on-year due to poor performance in the automotive sector[13] Inventory and Receivables - Accounts receivable decreased by 61.05%, from ¥28,761,940.74 to ¥11,201,606.51, mainly impacted by a reduction in commercial acceptance bills received due to the pandemic[22] - Inventory increased by 37.98%, from ¥443,140,827.38 to ¥611,448,038.69, driven by increased stock for new technology and product development[22] - The company reported a significant decrease in inventory, which fell by 137,397,108.41, indicating improved inventory turnover[75] Financial Adjustments and Compliance - The company has implemented new revenue and leasing standards since 2020, which may impact future financial reporting and performance metrics[72] - The company executed adjustments in accounting for contract liabilities and assets due to the new revenue recognition standards[81] - The company has made adjustments to its financial statements due to the implementation of new accounting standards, ensuring compliance and accuracy[88]