GUANNONG SHARE(SH:600251)2020-10-22 16:00Financial Performance - Net profit attributable to shareholders increased by 51.75% to CNY 233,198,775.44 year-to-date[13] - Operating revenue decreased by 17.06% to CNY 1,963,549,741.74 year-to-date[13] - Basic earnings per share increased by 52.10% to CNY 0.3001[13] - The weighted average return on equity increased by 2.85 percentage points to 10.18%[13] - Total profit for the reporting period was CNY 387.03 million, an increase of CNY 241.23 million or 165.45% compared to the same period last year, primarily due to increased revenue from property sales[21] - Net profit attributable to the parent company's shareholders for the reporting period was CNY 233.20 million, an increase of CNY 79.52 million or 51.75% compared to the same period last year, mainly due to increased property sales revenue[21] Assets and Liabilities - Total assets decreased by 8.56% to CNY 4,572,287,926.76 compared to the end of the previous year[13] - The company's total liabilities decreased to approximately CNY 1.69 billion from CNY 2.50 billion, a reduction of about 32.5%[35] - Shareholders' equity increased to approximately CNY 2.89 billion from CNY 2.50 billion, reflecting an increase of about 15.3%[35] - Total current liabilities include contract liabilities of CNY 1,780,047.52, which may impact future revenue recognition[56] Cash Flow - Net cash flow from operating activities decreased by 106.22% to -CNY 66,341,782.14 year-to-date[13] - Cash flow from operating activities for the first three quarters of 2020 was CNY 1,936,073,691.87, compared to CNY 2,530,940,493.21 in the same period of 2019, indicating a decrease of about 23.4%[45] - The net cash flow from financing activities was -214,262,746.71 RMB, an improvement from -1,628,447,574.68 RMB in the previous year[47] Shareholder Information - The total number of shareholders was 50,604 at the end of the reporting period[14] - The largest shareholder, Xinjiang Guannong Group Co., Ltd., holds 40.89% of the shares[14] - The total number of pledged shares by the controlling shareholder, Guannong Group, is 70 million, accounting for 21.81% of its total shares and 8.92% of the company's total share capital[29] Expenses - Operating costs for the reporting period were 1.62 billion RMB, a decrease of 25.48% compared to the same period last year, mainly due to reduced sales of cotton products[19] - Sales expenses for the reporting period were CNY 58.24 million, a decrease of CNY 23.24 million or 28.52% compared to the same period last year, mainly due to reduced freight costs[21] - Financial expenses for the reporting period were CNY 17.77 million, a decrease of CNY 22.84 million or 56.24% compared to the same period last year, primarily due to lower interest expenses[21] Investments and Acquisitions - The company completed the acquisition of a 51% stake in Akesu Yikang Storage Logistics Co., Ltd. for CNY 21.42 million during the reporting period[22] - The company established Xinjiang Guannong Testing Technology Co., Ltd. with an investment of CNY 20 million, which was included in the consolidation scope during the reporting period[23] - The company plans to sell its 54.55% stake in Zhejiang Xinwei Information Technology Co., Ltd. with a minimum price of CNY 148.38 million[23] Research and Development - R&D expenses for the reporting period were CNY 0.2391 million, a decrease of CNY 0.3266 million or 57.74% compared to the same period last year, mainly due to reduced technology R&D costs[21] - Research and development expenses for Q3 2020 were CNY 33,293.12, significantly lower than CNY 96,797.17 in Q3 2019[40] Inventory and Receivables - Accounts receivable at the end of the reporting period were 165.82 million RMB, a decrease of 42.18% compared to the beginning of the year, primarily due to a reduction in receivables from tomato product sales[19] - Inventory at the end of the reporting period was 627.91 million RMB, a decrease of 56.09% compared to the beginning of the year, mainly due to the sale of cotton product inventory[19] - Other receivables at the end of the reporting period were 149.05 million RMB, an increase of 268.66% compared to the beginning of the year, mainly due to increased dividends receivable from Guotou Luojiao Company and Kaidu River Hydropower[19] Government Subsidies - Non-operating income from government subsidies amounted to CNY 23,529,326.18 year-to-date[14] - Other income for the reporting period was CNY 23.34 million, an increase of CNY 17.94 million or 332.15% compared to the same period last year, mainly due to increased government subsidies[21]