BRIGHT DAIRY(SH:600597)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months rose by 9.26% to CNY 18,724,916,802 compared to the same period last year[10] - Net profit attributable to shareholders decreased by 4.16% to CNY 425,501,716 year-on-year[10] - Cash flow from operating activities decreased by 20.33% to CNY 1,477,214,370 for the first nine months[10] - The weighted average return on net assets decreased by 0.73 percentage points to 7.34%[10] - Total operating revenue for Q3 2020 reached RMB 6.58 billion, an increase of 8.8% compared to RMB 6.05 billion in Q3 2019[40] - Net profit for Q3 2020 was RMB 106.23 million, slightly up from RMB 103.41 million in Q3 2019, reflecting a growth of 1.8%[44] - The total profit for Q3 2020 was RMB 96.66 million, down from RMB 150.83 million in Q3 2019, reflecting a decline of 35.9%[44] Assets and Liabilities - Total assets increased by 14.31% year-on-year to CNY 20,161,643,371[10] - Current assets increased to ¥8,897,481,857 as of September 30, 2020, up from ¥7,205,510,710 on December 31, 2019, representing a growth of approximately 23.5%[31] - Total liabilities increased to ¥12,265,897,267 from ¥10,220,165,759, reflecting a growth of approximately 20.1%[33] - Non-current assets totaled ¥11,264,161,514, up from ¥10,431,596,095, indicating an increase of about 8.0%[31] - The company's total assets reached ¥20,161,643,371, compared to ¥17,637,106,805, which is an increase of approximately 14.3%[33] - Total current liabilities amounted to ¥9,328,444,757, compared to ¥8,230,772,133, reflecting an increase of about 13.4%[33] Cash Flow - The cash inflow from operating activities for the first three quarters of 2020 was CNY 21.85 billion, an increase of 10.7% compared to CNY 19.73 billion in the same period of 2019[50] - The net cash flow from operating activities decreased to CNY 1.48 billion in 2020 from CNY 1.85 billion in 2019, representing a decline of 20.2%[50] - The cash inflow from financing activities totaled CNY 2.42 billion in 2020, down from CNY 4.15 billion in 2019[52] - The net cash flow from financing activities was CNY 756.91 million in 2020, compared to a negative CNY 372.92 million in 2019[52] Shareholder Information - The number of shareholders at the end of the reporting period was 66,247[13] - The largest shareholder, Bright Food (Group) Co., Ltd., holds 51.62% of the shares[13] - The equity attributable to shareholders increased to ¥5,971,225,237 from ¥5,717,938,355, showing a growth of approximately 4.4%[33] Investments and Expenses - R&D expenses rose by 43.83% to ¥67,507,919, primarily due to increased spending on new product development[20] - The company reported a decrease in investment income, with a loss of ¥5,742,602 compared to a gain of ¥1,495,844 in the previous year, primarily due to reduced returns from joint ventures[20] - Long-term equity investments increased by 57.52% to CNY 118,461,421[17] Revenue Recognition Standards - The company implemented the new revenue recognition standards starting January 1, 2020, in accordance with the Ministry of Finance's notification[66] - The company will adjust the financial statement amounts for relevant items at the beginning of 2020 based on the cumulative impact of the first-time application of the new revenue standards[66] - The comparable period data will not be adjusted due to the implementation of the new revenue standards[66] - The new revenue standards are applicable to domestic listed companies from January 1, 2020[66] - The Ministry of Finance's notification was issued on July 5, 2017, regarding the revision of the revenue recognition standards[66]