BENEFO(SH:600468)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders rose by 106.09% to CNY 84,001,577.70 year-on-year[17] - Operating revenue for the first nine months increased by 32.21% to CNY 1,534,640,168.52 compared to the same period last year[17] - Basic earnings per share increased by 106.97% to CNY 0.0772[17] - The company reported a net profit increase, leading to a 30.51% rise in undistributed profits to CNY 359,362,736.43[23] - Total operating revenue for Q3 2020 reached ¥593.77 million, a 40% increase from ¥425.42 million in Q3 2019[50] - Net profit for Q3 2020 was ¥48.67 million, compared to ¥8.74 million in Q3 2019, representing a significant increase[52] - The company reported a total profit of ¥57.79 million for Q3 2020, compared to ¥12.67 million in Q3 2019[52] - The company's total comprehensive income for Q3 2020 was ¥48.44 million, compared to ¥8.74 million in Q3 2019[56] Assets and Liabilities - Total assets increased by 8.26% to CNY 3,567,222,994.97 compared to the end of the previous year[17] - Non-current assets totaled $1,276,499,084.94, an increase of 14.2% from $1,118,058,215.99[36] - Total liabilities amounted to $1,589,516,230.26, reflecting an increase of 10.9% from $1,433,272,865.13[38] - Current liabilities increased to $1,543,447,481.84, a rise of 10.3% compared to $1,399,407,195.43[36] - Shareholders' equity rose to $1,977,706,764.71, up 6.2% from $1,861,679,735.09[38] - The company’s total current assets remained stable at 2,176,894,384.23 RMB, consistent with the previous reporting period[76] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -61,922,459.72 for the first nine months[17] - The company's cash flow from operating activities for the first three quarters of 2020 was negative at -¥61,922,459.72, compared to -¥43,083,446.03 in the same period of 2019[64] - The cash inflow from operating activities totaled ¥1,295,564,841.31 for the first three quarters of 2020, compared to ¥1,006,613,025.05 in the same period of 2019, marking an increase of about 28.7%[64] - The total cash and cash equivalents at the end of the period decreased to 294,814,744.99 RMB from 420,785,289.86 RMB, indicating a reduction in liquidity[68] Shareholder Information - The total number of shareholders reached 21,529 by the end of the reporting period[19] - The largest shareholder, Tianjin Hydraulic Machinery Group Co., Ltd., holds 51.66% of the shares[19] Government Subsidies and Other Income - The company received government subsidies totaling CNY 19,341,520.24 during the first nine months, primarily from tax refunds and subsidies[17] - Other income rose by 51.10% to CNY 19,437,205.20, largely due to the consolidation of Liaoning Rongxin Company and increased tax refund income[25] - The company reported a non-operating income of CNY 9,192,689.46 for the third quarter[19] Expenses - The company’s sales expenses surged by 115.09% to CNY 86,636,425.43, attributed to the consolidation of Liaoning Rongxin Company[23] - R&D expenses in Q3 2020 amounted to ¥24.21 million, a 41% increase from ¥17.20 million in Q3 2019[50] - Tax expenses for Q3 2020 were ¥9.13 million, compared to ¥3.93 million in Q3 2019, reflecting a 132% increase[52] Compliance and Accounting Standards - The company has not made retrospective adjustments to comparative financial statements as per the new revenue standards[92] - The company is in compliance with the new accounting standards effective from January 1, 2020, without adjustments to prior year data[92] - The financial data reflects the company's adherence to the revised accounting standards without retrospective adjustments[90]