LMZ(SH:600249)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months was CNY 488,866,614.02, a decline of 44.56% year-on-year[6] - Net profit attributable to shareholders increased by 700.63% to CNY 62,437,646.56 compared to the same period last year[6] - Revenue decreased by 20.50% compared to the same period last year when excluding the impact of divested paper and real estate businesses[8] - The company reported a net profit of CNY 5,165,417.40 after deducting non-recurring gains and losses, compared to a loss of CNY 43,433,720.76 in the previous year[8] - The company's operating revenue decreased by 90.72% to CNY 108,332.95, primarily due to a decline in sales volume caused by the pandemic and the exclusion of paper and real estate companies from the consolidated scope[19] - Q3 2020 net profit was CNY 60,603,734.82, a decrease of 34.2% compared to Q3 2019's CNY 62,568,279.14[33] - Total revenue for Q3 2020 was CNY 50,286,253.23, a slight increase of 2.0% from CNY 49,290,783.69 in Q3 2019[35] - The company reported a total profit of CNY 75,433,774.19 for Q3 2020, a decrease of 30.5% from CNY 108,591,721.67 in Q3 2019[33] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of CNY 16,022,254.16, compared to a net inflow of CNY 36,578,872.78 in the previous year[6] - The net cash flow from operating activities was negative CNY 16,022,254.16, a decrease of CNY 52,601,126.94 compared to the same period last year, attributed to reduced cash receipts from sales and the exclusion of certain companies from consolidation[20] - The net cash flow from financing activities decreased by 220.23% to negative CNY 169,992,991.63, mainly due to significant loan repayments during the period[20] - The ending cash and cash equivalents balance as of September 30, 2020, was CNY 566.16 million, down from CNY 721.53 million at the beginning of the year[40] - The company incurred cash outflows of CNY 547.49 million from operating activities in the first three quarters of 2020, a decrease of 42.5% from CNY 950.85 million in the same period of 2019[39] Assets and Liabilities - Total assets decreased by 6.85% to CNY 2,509,121,430.33 compared to the end of the previous year[6] - The total number of shareholders at the end of the reporting period was 46,784[12] - The company's total liabilities decreased from CNY 631,264,328.03 to CNY 383,487,233.04, indicating improved financial stability[27] - Current liabilities decreased from CNY 571,629,509.12 to CNY 315,103,465.91, reflecting a reduction in short-term borrowings and other payables[26] - The company's cash and cash equivalents decreased from CNY 724,026,773.82 to CNY 566,457,935.00, reflecting a tighter liquidity position[25] - Total current assets amounted to CNY 1,924,846,831.74, with cash and cash equivalents at CNY 724,026,773.82 and trading financial assets at CNY 253,264,543.61[45] Shareholder Equity and Restructuring - The weighted average return on equity rose by 0.43 percentage points to 2.97%[6] - Basic earnings per share increased by 699.30% to CNY 0.1135[6] - The capital reserve increased to ¥1,184,901,870.95, an increase of ¥327,503,100.99, or 38.20% compared to the previous year[16] - The company completed significant asset restructuring in 2019, which impacted the current financial results[8] - The company completed the transfer of 84.62% equity in the paper company and 80% equity in the real estate company to its largest shareholder, which will impact future financial performance[21] Expenses and Costs - Operating costs decreased to ¥354,392,187.86, a reduction of ¥374,228,775.11, or 51.36% year-over-year[18] - The company reported a substantial reduction in management expenses, which fell to ¥47,007,531.33, a decrease of ¥28,992,475.25, or 38.15% year-over-year[18] - The income tax expense decreased by 33.85% to CNY 12,601,177.95, resulting from a reduction in fair value changes of stocks compared to the same period last year[19] - Financial expenses for Q3 2020 were CNY -11,025,037.25, a significant improvement from CNY -22,175,695.27 in Q3 2019[36] Future Outlook - The company does not anticipate significant changes in net profit for the upcoming reporting period compared to the previous year[23] - The company plans to continue focusing on R&D and market expansion to drive future growth[36]