SANYUAN(SH:600429)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥1,930,534,498.59, a decrease of 4.27% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2021 was ¥66,122,355.22, representing a year-on-year increase of 20.59%[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥61,370,957.88, an increase of 24.97% year-on-year[7]. - The basic earnings per share for Q3 2021 was ¥0.0442, reflecting a year-on-year increase of 20.77%[10]. - Net profit for the third quarter of 2021 was CNY 181,957,351.02, a significant recovery from a net loss of CNY 51,407,611.45 in the same quarter of 2020[46]. - The company reported a profit before tax of CNY 222,449,564.58 for the third quarter of 2021, compared to CNY 12,940,496.03 in the previous year, indicating a substantial improvement[46]. - Basic earnings per share for the third quarter of 2021 were CNY 0.1416, recovering from a loss of CNY 0.0310 per share in the same quarter of 2020[48]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥12,640,028,843.87, a decrease of 5.48% compared to the end of the previous year[10]. - The company's total liabilities were RMB 6,579,489,908.86, down from RMB 7,385,951,212.30, representing a decrease of about 10.9%[41]. - The company's total assets amounted to $13.37 billion, a slight decrease from $13.38 billion in the previous period[55]. - Total non-current liabilities amounted to approximately ¥3.20 billion, with long-term borrowings at ¥1.88 billion[58]. - Total liabilities reached approximately ¥7.39 billion, reflecting a slight decrease from the previous period[58]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥128,888,241.14, a decrease of 41.97% year-on-year[10]. - Cash inflows from operating activities totaled CNY 6,241,273,939.59 for the first three quarters of 2021, compared to CNY 5,690,840,480.51 in 2020, representing an increase of 9.7%[49]. - Cash flow from operating activities net amount was $128.89 million, a decrease of 42.1% compared to $222.12 million in the previous period[51]. - The ending balance of cash and cash equivalents was $1.26 billion, down from $1.73 billion in the previous period[53]. - Cash paid for debt repayment was $797.34 million, an increase of 42.1% from $561.16 million in the previous period[53]. Shareholder Information - The company’s major shareholders include Beijing Shounong Food Group Co., Ltd. with a 35.79% stake and BEIJING ENTERPRISES (DAIRY) LIMITED with an 18.91% stake[19]. - The company has not identified any other shareholders with related party relationships or acting in concert, aside from those already disclosed[22]. - The company’s major shareholders are primarily state-owned or controlled entities, indicating a stable ownership structure[19]. Investments and Acquisitions - The company is planning to acquire assets from its controlling shareholder, Beijing Shou Nong Food Group, which will include a 51% stake in Shou Nong Animal Husbandry[33]. - The company intends to acquire a 7.89% stake in its subsidiary Manzhouli Sanyuan Dairy Co., Ltd. for no more than RMB 300,000 and subsequently merge it, as it has been inactive for several years[29]. Operational Changes - The company approved a comprehensive credit line application of up to RMB 1 billion from its controlling shareholder's wholly-owned subsidiary for various funding needs[24]. - The company has authorized the use of up to RMB 300 million of temporarily idle funds for cash management, focusing on high-security and liquid bank products[27]. - The company agreed to extend the joint venture contract with Qiu Zhigang for Tianjin Sanyuan Dairy Co., Ltd. for an additional 5 years, until April 25, 2026[29]. - The company has approved a reduction of registered capital for its wholly-owned subsidiary Hebei Sanyuan Food Co., Ltd. from RMB 1,000,000,000 to RMB 1,157,725,500[30]. Research and Development - Research and development expenses increased to CNY 58,182,166.58 in the first three quarters of 2021, compared to CNY 16,686,032.12 in the same period of 2020, marking a growth of 248.5%[43].