YAXING CHEMICAL(SH:600319)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥73,143,223.54, representing an increase of 1,685.42% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥22,568,459.12, with a year-to-date net profit of -¥34,717,362.35, indicating a significant loss[5]. - The basic and diluted earnings per share were both -¥0.07, reflecting a decrease from -¥0.11 in the previous year[6]. - Total operating revenue for the first three quarters of 2021 reached ¥97,408,769.32, a significant increase from ¥42,842,047.28 in the same period of 2020, representing a growth of approximately 127.5%[25]. - The net loss for the first three quarters of 2021 was ¥34,717,362.35, worsening from a net loss of ¥19,979,155.37 in the same period of 2020[25]. - The total comprehensive income attributable to the parent company was -34,717,362.35 CNY, compared to -19,979,155.37 CNY in the same period last year, indicating a decline[26]. Assets and Liabilities - Total assets increased by 24.15% to ¥2,411,161,815.04 compared to the end of the previous year[6]. - The company's total assets as of September 30, 2021, amounted to ¥2,411,161,815.04, up from ¥1,942,131,835.39 at the end of 2020, reflecting an increase of approximately 24.2%[22]. - Current assets totaled ¥383,771,130.99 as of September 30, 2021, compared to ¥113,604,541.40 at the end of 2020, marking a substantial increase of about 237.5%[20]. - The total liabilities as of September 30, 2021, were ¥2,407,048,788.60, compared to ¥1,903,301,446.60 at the end of 2020, representing an increase of approximately 26.4%[22]. - Long-term borrowings increased to ¥27,250,000.00 in 2021 from ¥5,000,000.00 in 2020, reflecting a rise of 445%[22]. Cash Flow - Cash flow from operating activities was -¥60,410,662.82 year-to-date, indicating negative cash flow[6]. - The net cash flow from operating activities was -60,410,662.82 CNY, an improvement from -70,270,474.18 CNY year-over-year[28]. - Cash received from sales of goods and services increased to 91,446,684.58 CNY, up from 67,538,467.27 CNY in the previous year, reflecting a growth of approximately 35.4%[27]. - The net cash flow from investing activities was -19,041,620.49 CNY, a decrease from 12,047,706.42 CNY in the same period last year[28]. - Cash inflow from financing activities was 1,090,950,000.00 CNY, significantly higher than 351,542,500.00 CNY in the previous year[28]. - The company received 784,500,000.00 CNY in borrowings, up from 351,542,500.00 CNY in the previous year, indicating increased leverage[28]. Research and Development - The company reported a 201.22% increase in R&D expenses, attributed to higher personnel costs[11]. - The company reported a significant increase in research and development expenses, which rose to ¥3,635,851.48 in the first three quarters of 2021 from ¥1,207,039.02 in 2020, an increase of about 201.5%[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,202[13]. - The largest shareholder, Weifang Urban Construction Development Investment Group, holds 40,000,000 shares, accounting for 12.6% of total shares[14]. - The second largest shareholder, Weifang Yaxing Group, holds 26,932,729 shares, representing 8.53% of total shares[14]. - The total shares held by the four shareholders associated with Weifang Yuyue Enterprise Management Co., Ltd. amount to 41,653,962 shares, or 13.2% of total shares, making them the second largest shareholder[16]. - The company has a total of 30,077,029 shares controlled by the partners of eleven shareholders, representing 9.52% of total shares, making them the third largest shareholder[16]. - The company has several shareholders with pledged shares, including Shenzhen Zhong'an Huiyin No. 1 Special Investment Enterprise, which has 12,737,632 shares pledged[13]. - The company is actively managing its shareholder structure, with no reported related party transactions among other shareholders[16]. Production and Expansion - The company plans to continue expanding its CPE production capacity and exploring new market opportunities[11]. - The company has established a new plant in Changyi City, covering approximately 1,092 acres, with ongoing construction of a 50,000 tons/year CPE facility and a 120,000 tons/year ion membrane caustic soda facility[17]. - The company is in the process of relocating equipment from the old plant, which has been fully shut down since October 31, 2019[17]. - The company’s gross profit margin improved due to the commencement of CPE production in June 2021, leading to increased sales revenue[11]. Accounting and Compliance - The company is adhering to accounting standards for the accurate processing of fixed asset revaluation as it relocates and dismantles old facilities[18].