NSWRC(SH:600165)2020-10-27 16:00Financial Performance - Net profit attributable to shareholders was CNY -8,690,773.41, a significant improvement from CNY -31,514,585.42 in the same period last year[8] - Operating revenue decreased by 47.00% to CNY 126,883,743.81 compared to CNY 239,402,545.64 in the previous year[8] - The weighted average return on equity was -0.971%, an improvement from -3.527% in the previous year[8] - Basic and diluted earnings per share were both CNY -0.013, compared to CNY -0.046 in the same period last year[8] - The company reported a debt restructuring gain of CNY 2,359,149.13, contributing to the overall financial performance[11] - The total net profit from non-recurring items was CNY 2,729,411.12 for the current period[11] - Total revenue for Q3 2020 was CNY 69,556,352.51, a decrease of 47.4% compared to CNY 132,346,457.03 in Q3 2019[40] - Net loss for Q3 2020 was CNY 4,194,780.27, compared to a net loss of CNY 10,439,882.49 in Q3 2019, representing a 59.9% improvement[41] - Total comprehensive income for Q3 2020 was CNY 2,854,493.90, compared to CNY 4,030,474.92 in Q3 2019[46] Assets and Liabilities - Total assets increased by 16.31% to CNY 2,614,305,293.33 compared to the end of the previous year[8] - The company’s net assets attributable to shareholders decreased by 0.98% to CNY 890,695,614.17 compared to the end of the previous year[8] - Total current assets as of September 30, 2020, amounted to ¥533,857,563.94, a decrease of 30.5% from ¥768,397,727.15 on December 31, 2019[29] - Total non-current assets reached ¥2,080,447,729.39, up 40.6% from ¥1,479,321,101.76 at the end of 2019[30] - Total liabilities increased to ¥1,698,862,143.80, a rise of 28.5% compared to ¥1,322,613,065.01 in the previous year[31] - The company's total assets as of September 30, 2020, were ¥2,614,305,293.33, reflecting a growth of 16.3% from ¥2,247,718,828.91[31] - The total liabilities to total assets ratio stood at approximately 64.9%, indicating a relatively high leverage position[31] Cash Flow - The net cash flow from operating activities was CNY -54,507,110.78, an improvement from CNY -80,740,219.21 in the same period last year[8] - The net cash flow from investment activities is -RMB 444.81 million, a decrease of 583.26% compared to the previous year[21] - The company achieved cash inflow from operating activities of CNY 100,070,994.81 in the first three quarters of 2020, slightly lower than CNY 105,086,346.05 in the same period of 2019[50] - The total cash inflow from investment activities was 103,420,747.01 RMB, while cash outflow was 36,300.00 RMB, resulting in a net cash flow from investment activities of 103,384,447.01 RMB[54] - The cash inflow from financing activities was 104,062,609.89 RMB, with cash outflow totaling 200,114,993.48 RMB, leading to a net cash flow from financing activities of -96,052,383.59 RMB[54] Shareholder Information - The total number of shareholders is 52,426[13] - The largest shareholder, Shanghai Zhongneng Enterprise Development (Group) Co., Ltd., holds 200,000,000 shares, representing 29.20% of total shares[13] - Shanghai Zhongneng holds 20 million shares of the company, accounting for 29.20% of the total share capital, and has completed the procedures for share pledge[24] Operational Challenges - The company experienced a significant decrease in sales and trade business due to the pandemic and falling prices of desulfurization and denitrification carbon products[19] - The company has not fulfilled the performance commitment for 2017 and 2018, with ongoing litigation for compensation totaling RMB 314 million[25] - The company is adapting to new revenue and leasing standards, which may affect future financial reporting and cash flow assessments[57] Investment and Projects - The total fixed asset investment for the 50,000 tons/year lauric acid project is RMB 1.68 billion, with 90.19% of the construction progress completed and actual investment of RMB 1.1589828 billion as of the reporting period[20] - The acquisition of 80% equity in Boya Stem Cell Technology Co., Ltd. by Shanghai Zhongneng is valued at approximately RMB 1.05 billion, with RMB 800 million already received by the company[22]