HAC(SH:600202)2020-10-26 16:00Financial Performance - Net profit attributable to shareholders decreased by 21.23% to CNY 31,849,794.99 year-on-year[5] - Operating revenue declined by 7.18% to CNY 655,240,519.31 compared to the same period last year[5] - The company reported a net profit of 32,135,667.57 RMB for the year-to-date, with expectations of profitability for the next reporting period[20] - The company reported a net profit of CNY 3,594,532.01 for Q3 2020, compared to CNY 7,474,592.32 in Q3 2019, reflecting a decline of about 51.9%[35] - Total net profit for the third quarter was 7,314,325.25, a decrease from 9,513,686.16 in the previous quarter, representing a decline of approximately 23.1%[39] - Operating profit for the quarter was 3,514,778.87, down from 9,519,234.11, indicating a decrease of about 63.1%[37] - The total profit for Q3 2020 was ¥6,685,955.71, a decrease of 29.4% from ¥9,530,465.56 in Q3 2019[46] Cash Flow - Net cash flow from operating activities decreased significantly by 385.46% to -CNY 107,697,851.40[5] - The net cash flow from operating activities was -107,697,851.40 RMB, a decrease of 385.46% compared to the previous period due to reduced sales collections[17] - Total cash inflow from operating activities was 549,937,517.22 RMB, down from 673,937,284.98 RMB year-over-year, reflecting a decrease of approximately 18.4%[54] - Cash outflow from operating activities totaled 656,593,082.59 RMB, compared to 696,990,961.86 RMB in the same period last year, a decrease of about 5.8%[54] - The net cash flow from investing activities was 203,875,555.95 RMB, a significant improvement from -7,171,409.65 RMB previously[51] - Cash inflow from financing activities was 671,388,716.70 RMB, down from 844,285,316.80 RMB, representing a decline of approximately 20.4%[56] - The net cash flow from financing activities was -22,566,315.65 RMB, contrasting with a positive flow of 90,771,066.94 RMB in the prior period[56] Assets and Liabilities - Total assets increased by 12.05% to CNY 2,255,713,400.63 compared to the end of the previous year[5] - Total liabilities increased to CNY 1,585,518,558.90 from CNY 1,357,272,043.73, reflecting a rise of about 16.77%[32] - Owner's equity reached CNY 686,268,848.33, up from CNY 670,091,939.15, indicating an increase of approximately 2.65%[34] - Total assets as of September 30, 2020, amounted to CNY 2,271,787,407.23, an increase from CNY 2,027,363,982.88 as of December 31, 2019, representing a growth of approximately 12.06%[30] - The company reported a decrease in contract liabilities by CNY 165,272,310.92, reflecting a shift in prepayments from CNY 239,832,710.92 to CNY 74,560,400.00[67] - The company’s total liabilities decreased slightly from CNY 1,357,272,043.73 to CNY 1,343,688,885.40, showing a reduction in financial obligations[67] Shareholder Information - The number of shareholders reached 26,201 at the end of the reporting period[10] - The largest shareholder, Harbin Industrial Investment Group Co., Ltd., holds 34.03% of the shares[10] Expenses and Income - Sales expenses decreased by 60.70% to 17,272,777.89 RMB, primarily due to reduced technical service fees[16] - Management expenses decreased by 34.07% to 25,549,932.96 RMB, mainly due to lower employee compensation[16] - Other income decreased by 77.23% to 1,926,000.00 RMB, reflecting a reduction in deferred income amortization[16] - The income tax expense rose by 155.12% to 2,940,827.80 RMB, attributed to a decrease in unabsorbed losses[16] - The company recorded a credit impairment loss of -3,900,501.04 RMB, an increase of 102.10% due to higher provisions for bad debts[16] Inventory and Cash Equivalents - Cash and cash equivalents increased by 47.01% to CNY 285,493,259.01 due to asset transfer payments received[13] - Cash and cash equivalents increased to CNY 282,122,317.55 from CNY 193,528,126.55, marking a growth of approximately 45.9%[30] - Inventory levels rose to CNY 342,631,538.90 from CNY 314,546,245.52, an increase of about 8.9%[30] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[35]