CCYD(SH:600148)2020-10-26 16:00Financial Performance - Operating revenue for the year-to-date reached CNY 907,933,517.13, representing a growth of 33.37% compared to the same period last year[6]. - Net profit attributable to shareholders surged to CNY 48,807,750.86, a remarkable increase of 150.00% year-on-year[6]. - The weighted average return on equity improved to 10.71%, an increase of 6.17 percentage points from the previous year[6]. - Total operating revenue for Q3 2020 reached ¥341,936,060.98, a significant increase from ¥194,170,426.56 in Q3 2019, representing a growth of approximately 76.1%[27]. - The net profit for Q3 2020 was ¥24,796,389.08, compared to ¥9,147,998.12 in Q3 2019, indicating a year-over-year increase of about 171%[29]. - The total profit for Q3 2020 amounted to ¥27,307,517.28, compared to ¥11,406,074.25 in the same period last year, marking an increase of approximately 139%[29]. - The basic earnings per share for Q3 2020 was ¥0.130, up from ¥0.008 in Q3 2019, reflecting a substantial improvement in profitability[29]. Assets and Liabilities - Total assets increased to CNY 1,456,857,983.44, up 31.59% from the previous year[6]. - Total current assets as of September 30, 2020, amounted to CNY 1,210,114,220.02, compared to CNY 846,386,522.65 as of December 31, 2019[20]. - Total liabilities as of September 30, 2020, were CNY 862,451,568.74, compared to CNY 556,196,842.60 as of December 31, 2019[22]. - The company's total equity reached ¥340,550,142.49 in Q3 2020, compared to ¥322,128,768.71 in Q3 2019, reflecting a growth of approximately 5.7%[25]. - Total liabilities increased to ¥466,973,666.98 in Q3 2020 from ¥303,212,777.49 in Q3 2019, marking an increase of about 54.1%[25]. - The company’s total equity stood at 550,914,240.21 RMB, reflecting a stable equity position year-over-year[45]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 60,343,697.43, indicating a significant decline compared to the previous year[6]. - Cash flow from operating activities for the first nine months of 2020 was negative CNY 60,343,697.43, a decrease from a positive CNY 16,327,375.80 in the same period of 2019[37]. - Cash inflow from operating activities totaled CNY 423,407,366.99, slightly down from CNY 438,925,821.21 in the previous year[37]. - Cash outflow from operating activities increased to CNY 483,751,064.42 from CNY 422,598,445.41 year-over-year[37]. - The net cash flow from operating activities for Q3 2020 was -10,959,852.28 RMB, a decrease from 3,127,507.86 RMB in Q3 2019, indicating a decline in operational performance[41]. - The ending cash and cash equivalents balance was CNY 70,924,023.00, an increase from CNY 63,577,942.30 year-over-year[38]. Accounts and Inventory - Accounts receivable increased by CNY 195,071,303.90, a growth of 83.78%, primarily due to an increase in receivables from sales[11]. - Accounts receivable increased to CNY 427,905,174.61 from CNY 232,833,870.71 year-over-year[20]. - Inventory increased to CNY 239,201,373.55 from CNY 140,432,022.48 year-over-year[20]. - Accounts receivable increased to ¥205,311,847.77 in Q3 2020 from ¥128,931,199.39 in Q3 2019, indicating a rise of about 59.4%[24]. - Inventory levels rose to ¥84,085,313.28 in Q3 2020, compared to ¥51,165,967.64 in Q3 2019, representing an increase of approximately 64.4%[24]. Expenses - Operating costs increased by CNY 158,313,765.43, a rise of 31.93%, driven by higher product sales[14]. - Total operating costs for Q3 2020 were ¥315,247,562.60, compared to ¥185,745,973.28 in Q3 2019, reflecting an increase of about 69.8%[27]. - Research and development expenses for Q3 2020 amounted to ¥14,004,866.82, compared to ¥12,197,304.17 in Q3 2019, showing an increase of about 14.8%[27]. - Cash paid for dividends, profits, or interest increased by CNY 15,619,233.87, a growth of 307.81%, primarily due to an increase in dividend distribution during the period[16]. Impairment and Provisions - Asset impairment losses decreased by CNY 2,790,383.65, a reduction of 166.48% compared to the same period last year, primarily due to an increase in inventory impairment[15]. - The company's total assets impairment loss for Q3 2020 was ¥2,229,215.88, compared to a loss of ¥1,114,255.00 in Q3 2019, indicating an increase in asset impairment[28]. - The company reported a credit impairment loss of ¥1,251,160.59 in Q3 2020, reflecting a significant increase in credit risk provisions compared to previous periods[28]. Long-term Commitments - The company has committed to not engaging in competitive business activities as per the long-term commitments made by its founding shareholders[17].