AEROSPACE POWER(SH:600343)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥271,656,208.79, a decrease of 1.31% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2021 was -¥72,970,603.05, representing a significant decline of 1,118.06% year-over-year[7]. - The basic earnings per share for Q3 2021 was -¥0.114337, a decrease of 1,118.08% compared to the same period last year[9]. - The weighted average return on equity for Q3 2021 was -3.44124%, a decrease of 3.7829 percentage points year-over-year[9]. - The net profit for the third quarter of 2021 decreased by 1,896.76%, primarily due to a significant increase in raw material prices and the shutdown of the hydraulic pump business, leading to a decline in gross profit margin[13]. - The net profit for the third quarter of 2021 was -79,526,327.68 RMB, compared to a profit of 4,426,103.03 RMB in the same period of 2020, indicating a significant decline[28]. - The total operating profit for the third quarter was -80,610,044.84 RMB, a decrease from -1,216,793.39 RMB year-over-year[28]. - The company's net profit for the first three quarters of 2021 was not explicitly stated, but the retained earnings decreased from CNY 266,681,558.31 to CNY 197,897,680.30, a decline of approximately 26.00%[23]. Assets and Liabilities - The total assets attributable to shareholders at the end of Q3 2021 were ¥3,856,555,913.19, a decrease of 1.84% from the end of the previous year[9]. - The total equity attributable to shareholders at the end of Q3 2021 was ¥2,083,990,762.42, a decrease of 3.05% from the previous year[9]. - The company's equity attributable to shareholders decreased from CNY 2,149,623,520.78 to CNY 2,083,990,762.42, a decline of about 3.06%[24]. - The total liabilities of the company were CNY 1,486,673,841.88, slightly up from CNY 1,483,761,152.95, showing a marginal increase of approximately 0.13%[23]. - As of September 30, 2021, total assets amounted to CNY 3,856,555,913.19, a decrease from CNY 3,928,938,074.88 at the end of 2020, reflecting a decline of approximately 1.83%[22]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥66,323,956.90, indicating negative cash flow[9]. - Cash flow from operating activities showed a net outflow of -66,323,956.90 RMB, compared to -232,885,222.18 RMB in the previous year, reflecting an improvement[29]. - The company reported cash inflows from investment activities of 101,748,000.00 RMB, while cash outflows were 240,669,488.47 RMB, resulting in a net cash outflow of -138,921,488.47 RMB[30]. - Financing activities generated cash inflows of 277,000,000.00 RMB, with cash outflows totaling 392,943,136.20 RMB, leading to a net cash outflow of -115,943,136.20 RMB[30]. - The company's cash and cash equivalents at the end of the period were 289,566,857.08 RMB, down from 610,755,438.65 RMB at the beginning of the period[30]. - The cash flow from financing activities showed a net outflow of 181.73 million RMB, primarily due to the repayment of bank loans[13]. Operational Challenges - The company reported a significant increase in raw material prices, leading to a decline in gross profit margin[11]. - The hydraulic segment of the business was shut down, contributing to increased costs and expenses for the company[11]. - The company plans to continue the orderly shutdown of the hydraulic pump business, with asset impairment testing and personnel placement schemes being implemented[19]. - The company experienced a credit impairment loss of -8,672,424.90 RMB during the reporting period[28]. - The company reported a 259.01% increase in credit impairment losses, attributed to a higher provision for bad debts compared to the previous year[13]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 77,518, with the largest shareholder, Xi'an Aerospace Technology Industry Co., Ltd., holding 28.78% of the shares[16]. Research and Development - Research and development expenditures increased by 118.52%, indicating a rise in investment in new product and technology development[13]. - Research and development expenses for the third quarter of 2021 were CNY 23,110,607.17, down from CNY 26,956,728.44 in the same quarter of 2020, indicating a decrease of about 14.00%[24].