Saurer Intelligent(SH:600545)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,591,828 thousand, representing an increase of 11.8% compared to the same period last year[3]. - Total revenue for the first three quarters of 2021 reached RMB 4,088,446 thousand, an increase from RMB 3,670,401 thousand in the same period of 2020, representing a growth of approximately 11.4%[23]. - The net profit attributable to shareholders was a loss of CNY 220,011 thousand, with a year-to-date loss of CNY 272,316 thousand[3]. - The net loss for the third quarter of 2021 was RMB 317,424 thousand, worsening from a net loss of RMB 142,796 thousand in the same quarter of 2020[24]. - Basic and diluted earnings per share for the third quarter of 2021 were both RMB -0.1523, compared to RMB -0.0717 in the same quarter of 2020, indicating a worsening in earnings performance[25]. Cash Flow - The net cash flow from operating activities was a negative CNY 654,765 thousand for the quarter, indicating a significant cash outflow[3]. - The net cash flow from operating activities decreased by 43.1% to -251,341 from -441,791 in the same period last year[13]. - In the first three quarters of 2021, the company generated cash inflows from operating activities amounting to RMB 5,284,777 thousand, a significant increase from RMB 3,400,953 thousand in the same period of 2020, representing a growth of approximately 55.4%[26]. - The net cash flow from operating activities for the first three quarters of 2021 was negative RMB 251,341 thousand, an improvement compared to negative RMB 441,791 thousand in the same period of 2020[26]. - The net cash flow from investing activities increased significantly to 2,151,730 from -1,005,077, indicating a substantial inflow due to advance payments for business sales[13]. - Cash inflows from investment activities totaled RMB 2,269,937 thousand in the first three quarters of 2021, compared to 641,330 thousand in the same period of 2020, indicating a substantial increase of approximately 254.5%[27]. - The net cash flow from investment activities for the first three quarters of 2021 was RMB 2,151,730 thousand, a significant recovery from negative RMB 1,005,077 thousand in the same period of 2020[27]. - The company reported a net cash outflow from financing activities of RMB 1,054,699 thousand in the first three quarters of 2021, compared to a smaller outflow of RMB 456,426 thousand in the same period of 2020[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,979,148 thousand, an increase of 8.8% from the previous year-end[5]. - The company's total assets as of September 30, 2021, amounted to RMB 13,979,148 thousand, up from RMB 12,846,342 thousand at the end of 2020, reflecting a growth of approximately 8.8%[22]. - The total liabilities increased to RMB 9,400,558 thousand as of September 30, 2021, compared to RMB 7,756,717 thousand at the end of 2020, marking an increase of about 21.1%[22]. - The total liabilities of the company as of September 30, 2021, were RMB 7,756,717 thousand, compared to RMB 8,057,616 thousand at the beginning of the year, indicating a reduction in liabilities[30]. - The company's equity attributable to shareholders decreased by 10.3% to CNY 3,530,717 thousand compared to the previous year-end[5]. - The company's total equity decreased to RMB 4,578,590 thousand as of September 30, 2021, down from RMB 5,089,625 thousand at the end of 2020, reflecting a decline of about 10%[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,385[15]. - The largest shareholder, Jiangsu Jinsheng Industrial Co., Ltd., holds 46.94% of the shares, amounting to 889,759,677 shares[15]. - The company has a total of 10 major shareholders, with the top 10 holding a significant portion of the shares[16]. Corporate Actions - The company plans to sell its subsidiary Saurer Netherlands Machinery Company B.V.'s assets for €30 million (approximately RMB 234 million) to Rieter Holding AG[17]. - The restructuring protection application for two German subsidiaries was withdrawn, and the restructuring process has been terminated as of August 17, 2021[18]. - The company held its second extraordinary general meeting on September 28, 2021, to elect the new board of directors and supervisory board members[19]. - The company is actively working on the sale of its assets and will disclose further information as the project progresses[17]. Costs and Expenses - Total operating costs for the first three quarters of 2021 were RMB 4,343,101 thousand, compared to RMB 3,847,661 thousand in 2020, indicating an increase of about 12.9%[24]. - Research and development expenses for the first three quarters of 2021 were RMB 304,264 thousand, compared to RMB 290,242 thousand in the same period of 2020, showing an increase of approximately 4.8%[24]. - The financial expenses decreased by 37% to CNY 104,637 thousand, primarily due to reduced exchange losses[12]. Inventory and Cash Management - Cash and cash equivalents stood at RMB 1,612,307 thousand as of September 30, 2021, significantly higher than RMB 525,988 thousand at the end of 2020, indicating a growth of approximately 206.5%[22]. - The company's inventory increased to RMB 2,232,312 thousand as of September 30, 2021, compared to RMB 1,984,364 thousand at the end of 2020, representing an increase of about 12.5%[22]. - The company's cash and cash equivalents at the end of the third quarter of 2021 stood at RMB 937,235 thousand, a significant increase from RMB 149,306 thousand at the end of the previous year[27]. Accounting Standards - The company has adopted new leasing standards starting from 2021, which may impact future financial reporting and cash flow management strategies[27].