SXN(SH:600661)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY -71,109,007.08, representing a decline of 169.02% year-on-year[10] - Operating revenue for the first nine months was CNY 1,338,796,930.95, down 24.79% compared to the same period last year[10] - The company reported a net loss of CNY 8,621,388.29 for the period, contrasting with a profit of CNY 271,070.64 in the previous year[48] - Total operating revenue for Q3 2020 was approximately ¥553.36 million, a decrease of 20% compared to ¥690.36 million in Q3 2019[52] - Net profit for Q3 2020 was approximately ¥8.84 million, compared to a net loss of ¥110.24 million in Q3 2019, indicating a significant turnaround[53] - The company reported a basic earnings per share of ¥0.0351 for Q3 2020, compared to a loss per share of ¥0.2606 in Q3 2019[54] - The company achieved a gross profit margin of approximately 0.12% in Q3 2020, compared to 0.05% in Q3 2019[52] - The company reported a decrease in sales revenue from 1,662,351,081.89 RMB in the first nine months of 2019 to 1,394,788,204.74 RMB in the same period of 2020[60] Cash Flow and Liquidity - The net cash flow from operating activities improved by 19.25% year-on-year, amounting to CNY -72,876,546.42[10] - Cash flow from investing activities increased by 100.41% compared to the same period last year, mainly due to cash payments for acquiring subsidiaries[28] - Cash flow from financing activities increased by 140.01% compared to the same period last year, driven by an increase in bank loans[28] - Cash inflow from operating activities totaled 1,448,956,711.04 RMB in Q3 2020, down from 1,710,689,016.45 RMB in Q3 2019[61] - Cash outflow from operating activities was 1,521,833,257.46 RMB in Q3 2020, compared to 1,800,942,499.71 RMB in Q3 2019[61] - The net cash flow from investing activities was 291,639.54 RMB in Q3 2020, a recovery from -71,410,138.83 RMB in Q3 2019[62] - The net cash flow from financing activities was 124,060,619.90 RMB in Q3 2020, compared to -310,084,060.91 RMB in Q3 2019[62] - The cash and cash equivalents at the end of Q3 2020 were 701,307,713.24 RMB, up from 361,151,792.77 RMB at the end of Q3 2019[62] - The company reported a cash balance of 372,994,634.20 RMB at the end of the period, up from 32,805,711.35 RMB at the beginning[67] - The net increase in cash and cash equivalents for the period was 340,188,922.85 RMB, compared to a decrease of -27,016,689.63 RMB in the previous period[67] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,656,827,890.83, a decrease of 2.01% compared to the end of the previous year[9] - Current liabilities totaled CNY 1,763,059,282.15, an increase from CNY 1,691,517,887.99 in the previous period[43] - The company's total liabilities reached CNY 1,782,422,661.13, compared to CNY 1,711,017,210.80 previously, indicating a rise in financial obligations[43] - Shareholders' equity attributable to the parent company decreased to CNY 789,706,132.25 from CNY 915,066,387.43[44] - The company's total current assets decreased from RMB 1.57 billion at the end of 2019 to RMB 1.48 billion as of September 30, 2020[41] - The company's goodwill increased from RMB 226.2 million at the end of 2019 to RMB 307.8 million as of September 30, 2020[41] - The total liabilities and shareholders' equity amounted to CNY 2,656,827,890.83, consistent with total assets[44] - The company’s total liabilities amounted to 1,711,017,210.80 RMB, with current liabilities at 1,691,517,887.99 RMB and non-current liabilities at 19,499,322.81 RMB[73] Shareholder Information - As of the end of the reporting period, the total number of shareholders was 14,374[16] - The top shareholder, Shanghai Jiao Tong University Industry Investment Management (Group) Co., Ltd., held 31,903,233 shares, accounting for 11.13% of total shares[17] - As of September 30, 2020, Shanghai Jiaotong University Industrial Investment Management (Group) Co., Ltd. and its concerted action party held a total of 50,390,963 shares, accounting for 17.59% of the total share capital[19] - Shanghai Changjia Investment Co., Ltd. and its concerted action party held a total of 49,272,004 shares, accounting for 17.19% of the total share capital as of September 30, 2020[20] - As of September 30, 2020, China International Capital Corporation and its concerted action party held a total of 66,437,019 shares, accounting for 23.19% of the total share capital[21] Operational Impact - The company experienced a significant impact on revenue due to nearly 5 months of offline education business suspension caused by the COVID-19 pandemic[11] - The company has resumed normal operations since June, with a gradual recovery in revenue[11] - The company anticipates a cumulative net profit loss for 2020 due to multiple factors including the COVID-19 pandemic[36] Investments and Expenditures - Development expenditures increased by 162.38% compared to the beginning of the year, attributed to increased spending on internal R&D projects[25] - The company acquired a portion of the equity of Chungdahm Learning, Inc., indicating ongoing market expansion efforts[28] - The company acquired 432,007 shares of CDL, representing 5.63% of CDL's total equity, for a transaction amount of RMB 40 million[29] - The company invested RMB 149 million as a limited partner to jointly establish Tianjin Jinmao Angli Venture Capital Partnership[30] - The company agreed to invest RMB 29 million to jointly establish Yicun Angli Education Industry Fund[31] - The company’s wholly-owned subsidiary acquired 28% of Shanghai Zhian Investment Consulting Co., Ltd. for RMB 18 million[32] - The company plans to increase capital in its wholly-owned subsidiary Shanghai Sumitomo Property Co., Ltd. by RMB 105 million[33] - The company provided a loan of RMB 113 million to Sailin Qiyu for operational liquidity and repayment of part of acquisition loans[35]