AEROSPACE POWER(SH:600343)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months was CNY 768,274,639.71, a decline of 56.72% year-on-year[18]. - Net profit attributable to shareholders dropped by 93.81% to CNY 1,382,114.98 for the first nine months[18]. - The company reported a net loss of CNY 15,613,172.40 after deducting non-recurring gains and losses[18]. - The company's operating revenue decreased by 56.72% to ¥768,274,639.71 from ¥1,775,217,786.21, primarily due to a significant drop in trade business income[32]. - Net profit fell by 83.56% to ¥4,426,103.03, down from ¥26,921,670.44, attributed to a decline in trade business income and product structure adjustments[32]. - Total revenue for Q3 2020 was ¥275,264,148.22, a decrease from ¥965,325,931.87 in Q3 2019, representing a decline of approximately 71.5%[56]. - The net profit for the third quarter of 2020 was 11,082,001.90 CNY, compared to 11,569,414.97 CNY in the same period of 2019, reflecting a decrease of approximately 4.2%[63]. - The total profit for the third quarter of 2020 was 10,406,394.70 CNY, down from 13,179,873.45 CNY in the previous year, indicating a decline of about 21.2%[63]. Cash Flow and Liquidity - Cash flow from operating activities improved to CNY -232,885,222.18, compared to CNY -378,261,515.30 in the same period last year[18]. - The company recorded a net cash outflow from operating activities of ¥808,530,175.56, a decrease of 30.66% compared to the previous year, indicating reduced operational expenditures[36]. - Cash inflow from operating activities totaled 1,067,561,978.46 CNY in 2020, down from 1,307,519,593.21 CNY in 2019, reflecting a decrease of approximately 18.4%[74]. - Cash outflow from operating activities was 1,300,447,200.64 CNY in 2020, compared to 1,685,781,108.51 CNY in 2019, showing a reduction of about 22.8%[74]. - The ending cash and cash equivalents balance was 213,339,317.67 CNY in Q3 2020, down from 451,822,675.83 CNY in Q3 2019[74]. - The company’s net increase in cash and cash equivalents was negative at -154,435,211.61 RMB, indicating a need for improved cash management strategies[77]. Assets and Liabilities - Total assets decreased by 14.19% to CNY 3,927,738,007.20 compared to the end of the previous year[18]. - The company's cash and cash equivalents decreased by 58.90% to ¥232,848,758.42 due to increased cash settlement activities and the maturity of notes payable[29]. - Accounts receivable increased by 60.32% to ¥1,137,918,791.19, attributed to significant contracts not yet reaching the payment stage[29]. - The total liabilities decreased to CNY 1,490,007,695.41 from CNY 1,991,494,620.25, a reduction of approximately 25.3%[49]. - The company's total liabilities decreased to ¥752,744,867.73 in Q3 2020 from ¥1,280,480,987.57 in Q3 2019, a decline of approximately 41.1%[54]. - The company's total assets reached 4,577,131,182.63 RMB, reflecting a stable asset base[81]. Shareholder Information - The total number of shareholders at the end of the reporting period was 86,411[22]. - The company has no preferred shareholders as per the report[27]. - The company has a significant shareholder structure, with Xi'an Aerospace Technology Industry Co., Ltd. holding 28.78% of shares[26]. Research and Development - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[18]. - Research and development expenses increased by 37.27% to ¥26,956,728.44, compared to ¥19,638,375.97, due to the amortization of intangible assets included in R&D expenses[32]. - The company plans to focus on expanding its R&D efforts, as indicated by the significant increase in R&D expenses[56]. Future Outlook - The company expects a decline in operating revenue of approximately 50% year-over-year, primarily due to a significant reduction in trade income caused by the adverse international trade environment and changes in customer demand due to the COVID-19 pandemic[39]. - The company anticipates a potential turnaround in net profit for the year, driven by the absence of significant asset impairments and cost-reduction measures implemented[38]. - Future outlook includes potential market expansion and new product development, although specific details were not disclosed in the call[56].