AVIC I.F(SH:600705)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months was CNY 7.51 billion, an increase of 1.70% year-on-year[5] - Net profit attributable to shareholders of the listed company reached CNY 2.66 billion, representing a year-on-year increase of 26.33%[5] - Basic and diluted earnings per share were both CNY 0.30, up 25.00% from the previous year[6] - Total operating revenue for Q3 2020 reached ¥4,503,110,099.86, an increase of 8.6% compared to ¥4,146,826,449.89 in Q3 2019[22] - Net profit for Q3 2020 was ¥1,510,092,840.24, up 42.9% from ¥1,056,562,322.91 in Q3 2019[24] - The company reported a total profit of ¥2,062,117,395.92 for Q3 2020, compared to ¥1,573,753,327.85 in Q3 2019, reflecting a growth of 31.0%[24] - Total comprehensive income for Q3 2020 was ¥2,396,771,835.36, up from ¥370,773,279.86 in Q3 2019[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 341.24 billion, a decrease of 0.11% compared to the end of the previous year[5] - Total liabilities amounted to ¥288.84 billion, a decrease of 1.9% from ¥293.44 billion in the previous year[18] - Total equity reached ¥52.40 billion, an increase of 8.5% from ¥48.18 billion year-over-year[18] - Total current assets as of September 30, 2020, were RMB 184,734,737,200.62, down from RMB 201,899,491,029.65 at the end of 2019[15] - Total assets amounted to RMB 341,242,191,270.22 as of September 30, 2020, compared to RMB 341,615,285,875.54 at the end of 2019[17] - Short-term borrowings increased to RMB 35,305,297,271.94 from RMB 32,159,853,287.39 year-on-year[17] - Long-term borrowings rose to RMB 46,197,546,378.28, up from RMB 39,588,447,753.50 year-on-year[17] Cash Flow - Cash flow from operating activities for the first nine months was negative CNY 32.41 billion, compared to negative CNY 29.45 billion in the same period last year[5] - The net cash flow from financing activities was ¥205,100,551.90, significantly lower than the previous year's figure of ¥5,206,402,658.89[34] - The cash inflow from operating activities was significantly lower at ¥5,135,751,692.97 compared to ¥8,158,773,342.18 in the previous year[33] - The cash outflow for operating activities was ¥4,232,897,135.54, down from ¥10,829,682,732.12 in the same period last year[33] - The company reported a net cash flow from investment activities of -¥467,130,136.56, an improvement from -¥1,905,755,779.95 in the previous year[34] Income and Expenses - Non-operating income and expenses included a gain from the disposal of non-current assets of CNY 79.69 million for the third quarter[7] - The company received government subsidies amounting to CNY 18.61 million during the reporting period, closely related to its normal business operations[7] - Commission expenses for the period amounted to RMB 138,651,187.78, an increase of 38.08% year-on-year, primarily due to improved market conditions and increased business expenditures by AVIC Securities[13] - Other income for the period reached RMB 355,906,752.07, a significant increase of 8988.91% year-on-year, mainly due to government subsidies received by AVIC Leasing[13] - Fair value gains for the period were RMB 1,064,465,508.86, up 100.12% year-on-year, attributed to a notable increase in the market value of stocks held by the company[13] - The company reported a significant increase in credit impairment losses, amounting to RMB -1,544,209,919.13, an increase of 116.04% year-on-year, primarily due to the impact of the pandemic[13] Research and Development - Research and development expenses increased to ¥2,716,204.33 in Q3 2020, a rise of 79.8% from ¥1,512,033.59 in Q3 2019[23] - Research and development expenses for the first three quarters of 2020 were CNY 12,480,809.26, compared to CNY 9,365,760.01 in the same period last year, indicating increased investment in innovation[29]