HSGC(SH:600774)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months decreased by 80.22% to CNY 158,066,891.51 compared to the same period last year[6] - Net profit attributable to shareholders for the first nine months was a loss of CNY 70,101,132.85, a decrease of 355.59% compared to the same period last year[6] - The weighted average return on net assets decreased by 16.48 percentage points to -11.97%[6] - Total operating revenue for Q3 2020 was approximately $68.44 million, a decrease from $238.34 million in Q3 2019, representing a decline of about 71.3%[33] - Net loss for Q3 2020 was approximately $41.44 million, compared to a net profit of $22.40 million in Q3 2019, marking a significant shift in profitability[34] - The company reported a total profit loss of ¥5,525,540.84 for Q3 2020, compared to a profit of ¥2,993,519.31 in Q3 2019[37] Assets and Liabilities - Total assets increased by 5.35% to CNY 1,775,030,481.88 compared to the end of the previous year[6] - Current liabilities rose to CNY 838,495,060.66, compared to CNY 642,630,829.25, marking an increase of about 30.5%[25] - Total liabilities reached CNY 1,122,609,412.15, an increase from CNY 935,905,533.48, indicating a rise of approximately 20%[26] - Owner's equity decreased to CNY 652,421,069.73 from CNY 749,056,617.20, a decline of about 12.9%[26] - Total liabilities and owner's equity amounted to CNY 1,418,153,935.20, up from CNY 1,236,775,784.30, indicating a growth of approximately 14.7%[30] Cash Flow - Cash flow from operating activities for the first nine months was a net outflow of CNY 27,541,361.51, an increase of 2.53% in outflow compared to the same period last year[6] - The total cash inflow from operating activities for the first nine months of 2020 was ¥508,461,325.09, down from ¥959,559,572.29 in the same period of 2019, a decrease of about 47%[39] - In Q3 2020, the company reported a net cash flow from operating activities of -48,585,926.68 RMB, compared to -13,784,836.42 RMB in the same period of 2019, indicating a decline in operational cash flow[42] - The total cash inflow from operating activities was 454,735,359.77 RMB, down from 820,789,544.07 RMB in Q3 2019, reflecting a decrease in sales and service revenue[42] Shareholder Information - The number of shareholders at the end of the reporting period was 9,205[10] - The top shareholder, Wuhan Hanyang Holding Group Co., Ltd., holds 35.01% of the shares[10] Government Support - The company received government subsidies amounting to CNY 1,742,554.15 during the first nine months[8] - Other income rose to ¥2,127,730.50, an increase of ¥1,962,931.19 or 1191.10%, primarily from government subsidies[15] Expenses - Operating costs decreased to ¥35,999,329.74, down by ¥492,913,087.29 or 93.19% from the previous period, primarily due to reduced sales[15] - Financial expenses increased significantly to ¥51,743,620.95, an increase of ¥32,579,626.01 or 170.00%, mainly due to new bank loans[15] - Sales expenses were reduced to ¥39,673,749.47, a decrease of ¥21,525,663.25 or 35.17%, attributed to cost-cutting measures during the pandemic[15] - The company incurred financial expenses of approximately $37.54 million in Q3 2020, a significant increase from $5.47 million in Q3 2019[33] Investment and Income - Investment income decreased to -¥1,376,521.45, a decline of ¥2,863,056.23 or 192.60%, due to losses from invested companies[15] - Cash received from sales of goods and services was ¥488,991,478.13, down by ¥415,208,228.38 or 45.92% compared to the previous year[18] - Cash received from borrowings increased to ¥329,000,000.00, an increase of ¥130,000,000.00 or 65.33% compared to the previous period[18] Taxation - The company reported a significant reduction in tax payments, with cash paid for taxes decreasing by ¥55,916,643.52 or 86.42% compared to the previous year[18] - Tax expenses for Q3 2020 were approximately $381,864, compared to $604,264 in Q3 2019, indicating a decrease of about 36.8%[34]