Sytech(SH:600183)2020-10-23 16:00Financial Performance - Net profit attributable to shareholders rose by 24.99% to RMB 1,302,821,119.36 for the year-to-date period[5] - Operating revenue for the year-to-date period increased by 12.88% to RMB 10,690,001,192.32 compared to the same period last year[5] - Basic earnings per share increased by 18.75% to RMB 0.57 compared to the same period last year[5] - Total operating revenue for the first three quarters of 2020 was ¥10,690,001,192.32, compared to ¥9,470,041,407.82 in the same period of 2019, reflecting a growth of 12.87%[23] - Net profit for Q3 2020 was ¥504,502,791.77, compared to ¥445,330,996.89 in Q3 2019, representing a growth of 13.25%[24] - The net profit attributable to the parent company's shareholders for Q3 2020 was approximately ¥476.97 million, compared to ¥413.45 million in Q3 2019, reflecting an increase of around 15.4%[26] Assets and Liabilities - Total assets increased by 16.14% to RMB 18,042,367,367.33 compared to the end of the previous year[5] - The company's total liabilities increased significantly, with a notable rise in deferred tax liabilities by 113.66% to ¥27,799,810.60, linked to the acquisition and asset evaluations.[12] - Total liabilities reached ¥7.82 billion, compared to ¥6.18 billion, which is an increase of approximately 26.7%[19] - The total liabilities as of Q3 2020 were ¥3,237,286,348.62, up from ¥2,823,510,363.93 in the previous year, showing a year-over-year increase of 14.66%[21] - The company's total liabilities were ¥6,822,963,390.77, reflecting a stable financial position[34] Cash Flow - The net cash flow from operating activities decreased by 18.81% to RMB 1,138,578,441.88 year-to-date[5] - Cash flow from financing activities showed a net inflow of ¥12,848,851.58, a significant improvement compared to a net outflow of ¥382,449,808.80 in the previous year.[15] - The net cash flow from operating activities for Q3 2020 was ¥1,138,578,441.88, a decrease of 18.7% compared to ¥1,402,298,213.94 in Q3 2019[29] - The net cash flow from financing activities was -¥378,427,224.43, an improvement from -¥473,971,751.54 in Q3 2019[32] Shareholder Information - The company reported a total of 181,761 shareholders at the end of the reporting period[7] - The top three shareholders hold a combined 51.39% of the total shares: Guangdong Guangxin Holdings Group (22.12%), Dongguan Guohong Investment Co., Ltd. (15.02%), and Weihua Electronics Co., Ltd. (14.25%)[7] Investments and Acquisitions - Derivative financial assets reached ¥90,150.00, primarily due to the acquisition of Guangdong Lusheng Environmental Protection Co., Ltd. by the wholly-owned subsidiary Dongguan Shengyi Capital Investment Co., Ltd.[10] - Investment income surged by 217.51% to ¥69,111,175.16, resulting from the fair value difference of equity investments following the acquisition of Guangdong Lusheng Environmental Protection Co., Ltd.[13] - The goodwill balance reached ¥104,550,995.91, resulting from the acquisition of Guangdong Lusheng Environmental Protection Co., Ltd., where the acquisition cost exceeded the fair value of identifiable net assets.[11] Current Assets and Inventory - Current assets rose to ¥9.66 billion, up from ¥8.71 billion, marking an increase of about 10.9% year-over-year[19] - Inventory increased significantly to ¥2.66 billion, compared to ¥2.10 billion, reflecting a growth of approximately 26.7%[19] - Other current assets increased by 90.37% to ¥199,525,029.06, mainly due to an increase in input VAT credits.[10] Operating Costs and Expenses - Total operating costs for Q3 2020 were ¥3,278,997,424.84, up from ¥2,969,704,198.03 in Q3 2019, reflecting a year-over-year increase of 10.41%[23] - Research and development expenses in Q3 2020 amounted to ¥186,772,823.37, an increase from ¥162,358,322.72 in Q3 2019, indicating a focus on innovation[23] - The company's operating costs for Q3 2020 were approximately ¥1.49 billion, compared to ¥1.45 billion in Q3 2019, representing an increase of about 2.9%[26] Other Income and Gains - Non-operating income for the year-to-date period included government subsidies amounting to RMB 38,864,210.89[6] - Other income increased by 139.65% to ¥37,225,552.37, primarily due to an increase in government subsidies recognized as current profits.[13] - The company recorded a total of RMB 71,265,909.17 in non-recurring gains and losses for the third quarter[6]