VEKEN TECHNOLOGY(SH:600152)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months was CNY 1,050,835,120.85, a 1.11% increase year-on-year[6] - Net profit attributable to shareholders was CNY 42,413,328.01, a significant recovery from a loss of CNY 46,931,021.22 in the same period last year[6] - The weighted average return on net assets improved by 6.46 percentage points to 3.06%[7] - Basic earnings per share for the period was CNY 0.1008, compared to a loss of CNY 0.1098 per share in the previous year[7] - Operating profit reached ¥49,139,318.46, a turnaround from a loss of ¥54,462,410.17 in the same period last year[13] - Net profit for the first three quarters of 2020 was ¥232,623,924.14, significantly higher than ¥60,216,791.62 in the same period of 2019[25] - The net profit attributable to shareholders for Q3 2020 was ¥8.25 million, compared to a loss of ¥46.93 million in the same period last year, indicating a strong recovery[31] - The company reported a net profit turnaround for the year, primarily due to property disposals and government subsidies received during the reporting period[18] Assets and Liabilities - Total assets increased by 2.49% to CNY 2,788,611,942.21 compared to the end of the previous year[6] - The company’s total liabilities as of September 30, 2020, were RMB 1,401,851,532.85, compared to RMB 1,387,654,458.53 at the end of 2019, showing a slight increase[22] - The company’s total equity increased to ¥1,989,179,804.56 in Q3 2020 from ¥1,815,228,487.87 in Q3 2019[25] - The total assets of the company as of Q3 2020 were significantly higher than the previous year, reflecting effective asset management strategies[32] Cash Flow - The net cash flow from operating activities improved to -CNY 39,154,160.61 from -CNY 94,530,453.61 year-on-year[6] - The cash flow from operating activities showed a net outflow of -39,154,160.61 CNY, an improvement from -94,530,453.61 CNY in the same period last year[37] - The total cash inflow from operating activities for the first three quarters of 2020 was 82,888,582.34 RMB, up from 44,843,385.05 RMB in the first three quarters of 2019, reflecting a 84.8% increase[38] - The cash inflow from sales of goods and services for the first three quarters of 2020 was 50,425,506.29 RMB, significantly higher than 16,600,556.73 RMB in the same period of 2019, reflecting a 203.0% increase[38] Shareholder Information - The company had a total of 30,419 shareholders at the end of the reporting period[10] - The largest shareholder, Weike Holdings Group, holds 29.06% of the shares, with 49,155,864 shares pledged[11] Investments and Expenditures - Long-term equity investments surged by 420.86% to ¥22,386,974.41, due to investments in Jiangxi Weile Battery Co., Ltd.[12] - The company plans to expand its battery construction projects and new factory in Nanchang, contributing to a 156.93% increase in capital expenditures[14] - The company reported non-recurring gains of CNY 10,173,537.65 for the first nine months[10] Inventory and Costs - Inventory increased by 56.30% to ¥480,268,030.54, attributed to stockpiling for the peak season[12] - Total operating costs for Q3 2020 were ¥419,851,134.68, down 12.1% from ¥477,564,547.05 in Q3 2019[27] - The total operating expenses decreased to 985,796,509.32 CNY from 1,018,703,620.30 CNY in the previous year, indicating cost control efforts[37] Government Support - The company received government subsidies totaling ¥66,089,912.09, marking a 35.76% increase compared to the previous year[13] Future Plans - The company is in the process of a non-public offering of A-shares, as approved in the 2019 annual general meeting[14] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30]