S.Y.C.C.(SH:600306)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥25,132,536.99, representing a decrease of 33.37% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥22,301,471.91, with a year-to-date loss of -¥62,911,752.06, indicating significant financial challenges[5]. - The basic and diluted earnings per share were both -¥0.09, reflecting a continued decline in profitability[6]. - The company's revenue for the year-to-date period was ¥87,754,650.67, down 19.51% year-on-year, primarily due to a decrease in self-operated income[5][9]. - The company reported a significant decrease in equity attributable to shareholders, which was -¥16,614,851.73, a decline of 135.89% compared to the previous year[6]. - In the first three quarters of 2022, the company achieved operating revenue of CNY 87.75 million and a net profit attributable to shareholders of CNY -62.91 million, resulting in a negative net asset of CNY -16.61 million as of the end of Q3 2022[14]. - The company has reported consecutive losses for four years, with losses attributable to the parent company amounting to CNY 127.66 million, CNY 106.14 million, CNY 149.14 million, and CNY 105.66 million from 2018 to 2021[15]. - Net loss for the third quarter of 2022 was CNY 62,909,513.76, compared to a net loss of CNY 58,333,023.68 in the same quarter of 2021, indicating a decline in performance[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,362,440,612.59, down 7.01% from the previous year[6]. - As of September 30, 2022, the company's total assets were CNY 1.36 billion, down from CNY 1.47 billion at the end of 2021[18]. - The company's current liabilities included short-term borrowings of CNY 150.92 million and accounts payable of CNY 138.19 million as of September 30, 2022[18]. - The company's total liabilities as of the end of the third quarter of 2022 amounted to CNY 1,378,254,170.12, slightly down from CNY 1,418,097,248.07 at the end of 2021[20]. - The total equity attributable to shareholders of the parent company was CNY -16,614,851.73, a significant decrease from CNY 46,296,900.33 in the previous year[20]. - The company's total liabilities to equity ratio was approximately 100.5% as of the end of the third quarter of 2022, indicating a high level of leverage[20]. Cash Flow - The cash flow from operating activities was -¥23,437,371.18 for the year-to-date period, indicating negative cash flow[6]. - Cash flow from operating activities for the first three quarters of 2022 was CNY 257,577,081.14, down from CNY 325,987,480.89 in the same period of 2021, representing a decline of 21.0%[25]. - The net cash flow from operating activities was -23,437,371.18, a decrease from -1,386,192.29 in the previous quarter[26]. - Total cash inflow from operating activities was 281,546,006.75, while cash outflow was 304,983,377.93, resulting in a net cash flow deficit[26]. - Cash inflow from financing activities totaled 95,000,000.00, compared to 235,922,170.78 in the previous quarter[27]. - The net cash flow from financing activities was -65,930,352.12, a significant decline from 13,722,095.62 in the previous quarter[27]. - The ending cash and cash equivalents balance was 17,994,803.14, down from 16,639,200.75 in the previous quarter[27]. - The company’s cash and cash equivalents decreased to CNY 29.37 million as of September 30, 2022, from CNY 123.58 million at the end of 2021[17]. Operational Challenges - The company faced significant operational risks due to the impact of COVID-19, with stores closed from March 19, 2022, and reopening on April 13 and 14, 2022[13]. - The company terminated a major asset sale agreement with Zhongzhao Investment due to failure to reach consensus on valuation and core terms[14]. - The company has had negative operating cash flow for four consecutive years, with working capital also remaining negative during this period[15]. - The company has been under risk warning by the Shanghai Stock Exchange due to continuous losses and negative net assets[14]. Inventory and Costs - The company’s inventory decreased to CNY 12.48 million as of September 30, 2022, compared to CNY 18.62 million at the end of 2021[18]. - Total operating costs for the first three quarters of 2022 were CNY 146,449,116.54, down from CNY 165,969,427.32 in 2021, reflecting a reduction of 11.8%[21]. - The company reported a gross profit margin of approximately 76.3% for the first three quarters of 2022, compared to 53.9% in the same period of 2021[21]. - The company’s financial expenses for the first three quarters of 2022 were CNY 67,926,256.93, slightly up from CNY 67,019,802.85 in 2021[21].