红星发展(600367) - 2020 Q3 - 季度财报

Financial Performance - Operating revenue for the first nine months was CNY 897,210,216.78, down 21.61% year-on-year[7]. - Net profit attributable to shareholders of the listed company was a loss of CNY 13,786,133.07, representing a decrease of 123.71% compared to the same period last year[7]. - The net profit attributable to the parent company decreased by 123.71% compared to the same period last year, resulting in a loss of ¥13,786,133.07[16]. - The company reported a loss of CNY 22,345,225.94 for net profit attributable to shareholders after deducting non-recurring gains and losses, a decrease of 140.45% year-on-year[7]. - The company expects a significant decline in operating profit for 2020 compared to 2019 due to increased competition, decreased sales volume and prices, and high procurement costs[24]. - The company reported a total comprehensive loss of ¥7,786,763.89 for Q3 2020, compared to a comprehensive income of ¥16,631,720.08 in Q3 2019[44]. - The net profit for the first three quarters of 2020 was ¥440.63 million, an increase of 2.2% from ¥430.69 million in the same period of 2019[35]. - The company's net loss attributable to shareholders for Q3 2020 was ¥7,215,337.58, compared to a profit of ¥15,039,863.57 in Q3 2019[44]. Cash Flow - The net cash flow from operating activities for the first nine months was CNY 4,203,253.72, a significant decline of 95.44% year-on-year[7]. - The net cash flow from operating activities decreased by 95.44% compared to the same period last year, totaling ¥4,203,253.72[16]. - Cash inflows from operating activities for the first three quarters of 2020 totaled CNY 548,365,931.04, a decrease of 30.3% from CNY 786,790,054.16 in the same period of 2019[53]. - The company reported a significant decrease in cash flow from operating activities, indicating potential challenges in revenue generation and operational efficiency[54]. - Cash outflows from investing activities amounted to CNY 42,104,137.02, compared to CNY 29,602,856.99 in the same period of 2019, marking an increase of 42%[54]. - The net cash flow from investing activities was negative CNY 27,794,374.39, slightly worse than the negative CNY 25,878,884.07 recorded in the same period last year[54]. - Cash inflows from financing activities were CNY 20,000,000.00, down 73.3% from CNY 75,000,000.00 in the previous year[55]. - The net cash flow from financing activities was negative CNY 15,311,947.50, contrasting with a positive CNY 37,248,785.71 in the same period of 2019[55]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,024,231,200.27, a decrease of 1.37% compared to the end of the previous year[7]. - The company’s total net assets attributable to shareholders were CNY 1,321,470,693.73, down 1.45% from the previous year[7]. - Current liabilities totaled RMB 587,684,828.43 as of September 30, 2020, compared to RMB 572,558,526.13 at the end of 2019[30]. - Total liabilities reached RMB 636,684,047.20, with current liabilities at RMB 572,558,526.13[64]. - The total liabilities to equity ratio stands at approximately 44.9%, indicating a balanced capital structure[64]. - The company has no non-current liabilities, indicating a low debt level[68]. Shareholder Information - The total number of shareholders is 27,291[13]. - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 105,067,336 shares, accounting for 35.54% of the total shares[13]. Research and Development - Research and development expenses decreased by 38.91% compared to the same period last year, totaling ¥352,366.35[16]. - Research and development expenses for Q3 2020 were ¥114.91 thousand, a decrease of 55.4% compared to ¥257.64 thousand in Q3 2019[41]. - Research and development expenses for Q3 2020 were ¥4,802.71, significantly lower than ¥103,289.43 in Q3 2019[47]. Market Conditions - The company is facing challenges due to increased competition and declining sales prices of key products, impacting overall profitability[19]. - The company's operating revenue for Q3 2020 was ¥129,737,669.07, a decrease of 3.4% compared to ¥134,469,712.84 in Q3 2019[47]. - Total revenue for Q3 2020 was ¥328.29 million, a decrease of 15.6% compared to ¥389.27 million in Q3 2019[40]. - Total operating costs for Q3 2020 were ¥336.41 million, down 8.6% from ¥367.97 million in Q3 2019[40]. Equity and Investments - The company has waived its right of first refusal for the transfer of shares held by its affiliate, Hongdie Industrial, in Hongxing Logistics, constituting a related party transaction[23]. - The company executed new revenue and lease standards starting January 1, 2020, impacting financial reporting[64]. - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial reporting[69].