Hunan (SH:600476)2020-10-26 16:00Financial Performance - Operating revenue decreased by 35.46% year-on-year, amounting to RMB 144,657,061.46 for the first nine months[7] - Net profit attributable to shareholders was a loss of RMB 6,119,451.27, an improvement compared to a loss of RMB 23,811,680.07 in the same period last year[7] - The weighted average return on net assets improved by 1.2 percentage points to -3.72%[7] - The basic earnings per share for the reporting period was -RMB 0.038, compared to -RMB 0.148 in the same period last year[7] - The net loss for the first three quarters of 2020 was CNY 141,926,263.87, worsening from a loss of CNY 135,807,801.44 in the same period of 2019[25] - The company reported a total equity of CNY 169,298,268.34 as of September 30, 2020, down from CNY 175,416,730.77 at the end of 2019, a decrease of 3.4%[25] - The total comprehensive income for the third quarter of 2020 was CNY 3,401,810.32, compared to a loss of CNY 23,449,382.43 in the same period of 2019[33] Cash Flow - The company reported a cash flow from operating activities of -RMB 12,094,369.77 for the first nine months, an improvement from -RMB 18,228,936.21 in the previous year[7] - Cash received from sales decreased by 47.62% to CNY 155,597,799.26, attributed to reduced revenue and cash collection[17] - Cash paid for goods and services decreased by 62.66% to CNY 92,735,856.20, corresponding to lower revenue[17] - Cash inflows from operating activities for the first three quarters of 2020 amounted to CNY 206,759,955.06, down 30.4% from CNY 297,066,176.47 in the same period of 2019[35] - The net cash flow from operating activities for the first three quarters of 2020 was a loss of CNY 12,094,369.77, an improvement from a loss of CNY 18,228,936.21 in 2019[35] - The ending cash and cash equivalents balance as of September 30, 2020, was CNY 40,026,791.38, an increase from CNY 37,522,074.05 at the end of the same period in 2019[36] Assets and Liabilities - Total assets increased by 13.95% year-on-year, reaching RMB 467,991,069.25 at the end of the reporting period[7] - Current liabilities rose to CNY 284,941,494.60, up from CNY 219,170,276.36, indicating increased short-term obligations[20] - Total liabilities increased to CNY 310,453,716.60 in Q3 2020 from CNY 247,035,887.02 in Q3 2019, marking a rise of 25.6%[24] - Total assets as of September 30, 2020, amounted to CNY 479,751,984.94, up from CNY 422,452,617.79 at the end of 2019, reflecting a growth of 13.5%[24] - The company reported a total of 338,577,638.04 RMB in current assets, which includes cash, receivables, and inventory[40] - Non-current assets totaled 72,115,061.18 RMB, which includes fixed assets and intangible assets[41] Shareholder Information - The number of shareholders at the end of the reporting period was 23,401[11] - The top three shareholders held a combined 43.59% of the shares, with Beijing Zhongyou Asset Management Co., Ltd. holding 32.98%[11] Research and Development - Research and development expenses increased by 168.89% to CNY 5,631,263.18, indicating a focus on structural transformation and increased R&D investment[14] - Research and development expenses for Q3 2020 were CNY 2,223,326.70, up from CNY 1,000,591.13 in Q3 2019, indicating a growth of 121.2%[28] Government Subsidies - Government subsidies recognized in the current period amounted to RMB 4,574,100.00, with RMB 1,837,100.00 recognized in the third quarter[9] Financial Standards and Reclassifications - The company has implemented new revenue and leasing standards starting from January 1, 2020, affecting financial reporting[39] - The company reclassified 1,181,245.25 RMB of sales and service-related advance payments to contract liabilities due to the implementation of new revenue recognition standards[43] - The company reclassified 945,703.77 from advance receipts to contract liabilities due to the implementation of the new revenue standard[47]