Hunan (SH:600476)2021-10-29 16:00Financial Performance - The company's operating revenue for the third quarter was ¥68,518,565.71, representing a year-on-year increase of 70.05%[5] - The net profit attributable to shareholders was -¥10,126,864.89, a decrease of 397.69% compared to the same period last year[5] - The basic earnings per share was -¥0.063, reflecting a decrease of 397.69% year-on-year[6] - Operating revenue increased by 70.05% compared to the same period last year, mainly due to increased product sales and system integration revenue[15] - Net profit decreased by 344.51% year-on-year, despite revenue growth, due to increased expenses and unchanged sales profit[15] - The company reported a net loss of -¥15,669,960.72 for the first three quarters of 2021, compared to a loss of -¥6,422,622.30 in the same period of 2020[26] - The net profit for Q3 2021 was -14,166,273.48 RMB, compared to -6,119,459.55 RMB in Q3 2020, indicating a significant increase in losses[27] - Basic and diluted earnings per share for Q3 2021 were both -0.088 RMB, compared to -0.038 RMB in Q3 2020[27] - The company reported a total comprehensive loss of -14,166,273.48 RMB for Q3 2021, compared to -6,119,459.55 RMB in Q3 2020[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥471,700,819.32, an increase of 14.90% from the end of the previous year[6] - Total assets as of September 30, 2021, amounted to ¥471,700,819.32, an increase from ¥410,545,443.73 at the end of 2020[22] - Current assets totaled ¥363,863,551.81, up from ¥334,549,777.31 at the end of 2020, reflecting a growth of 8.0%[22] - Total liabilities reached ¥327,224,098.76, an increase from ¥251,902,449.69 in the previous year[23] - The company's equity attributable to shareholders totaled CNY 158,642,994.04, with retained earnings showing a deficit of CNY -151,799,409.04[36] - The total non-current liabilities were CNY 22,713,085.56, with lease liabilities included[35] Cash Flow - Cash flow from operating activities was -¥80,127,593.23 for the year-to-date period[5] - Cash received from operating activities increased by 137.52% year-on-year, reflecting higher cash inflows from sales[15] - The total cash inflow from operating activities for the first nine months of 2021 was 264,670,299.37 RMB, up from 206,759,955.06 RMB in the same period of 2020[30] - The net cash flow from operating activities for the first nine months of 2021 was -80,127,593.23 RMB, worsening from -12,094,369.77 RMB in the previous year[30] - Cash and cash equivalents at the end of Q3 2021 stood at 60,942,191.79 RMB, compared to 40,026,791.38 RMB at the end of Q3 2020[31] Expenses - Operating costs rose by 108.36% year-on-year, corresponding to the increase in revenue[15] - Sales expenses increased by 30.75% year-on-year, attributed to higher market and labor costs[15] - Management expenses grew by 52.20% year-on-year, primarily due to increased office rental and renovation costs[15] - Research and development expenses decreased by 33.33% year-on-year, indicating a reduction in R&D investment[15] - Cash paid for purchasing goods and services surged by 113.09% year-on-year, indicating increased procurement costs[15] - Cash paid for fixed assets and other long-term assets increased by 2,571.78% year-on-year, primarily due to the purchase of electronic equipment[15] Borrowings and Financing - Short-term borrowings increased by 38.67% due to additional loans taken during the reporting period[11] - The company raised 130,000,000.00 RMB in borrowings during Q3 2021, compared to 70,000,000.00 RMB in Q3 2020[31] - The net cash flow from financing activities for Q3 2021 was 51,736,593.73 RMB, a recovery from -16,558,813.58 RMB in the same quarter of the previous year[31] - Cash received from borrowings increased by 80.00% year-on-year, reflecting higher loans from financial institutions[15] Inventory and Prepayments - The company reported a significant increase in prepayments by 262.16% compared to the end of the previous year, attributed to payments made under contract terms[10] - Inventory increased by 52.88% due to the rise in unfinished projects during the reporting period[10] - Inventory rose to ¥72,066,369.58, compared to ¥47,139,777.69, marking a growth of 52.9%[22]