xinsteel(SH:600782)2020-10-30 16:00Financial Performance - Operating revenue rose by 25.66% to CNY 5,192,758.31 million year-to-date[17] - Net profit attributable to shareholders decreased by 28.71% to CNY 188,691.21 million year-to-date[17] - Basic earnings per share fell by 28.92% to CNY 0.59 per share[17] - The weighted average return on equity decreased by 4.75 percentage points to 8.50%[17] - The company reported a significant decrease in net profit due to non-recurring losses from asset disposals totaling CNY -657,993.24 million for the period[21] - Total revenue for Q3 2020 reached ¥20,049,464,029.55, a 34.0% increase from ¥14,948,101,080.40 in Q3 2019[48] - Net profit for Q3 2020 was ¥807,268,308.27, slightly down from ¥809,603,731.79 in Q3 2019[51] - The net profit attributable to the parent company for Q3 2020 was approximately ¥793.19 million, a decrease from ¥807.68 million in Q3 2019, representing a decline of about 1.8%[54] - The net profit for the first three quarters of 2020 was approximately ¥1.53 billion, down from ¥3.08 billion in the same period of 2019, indicating a decline of about 50%[61] Assets and Liabilities - Total assets increased by 12.83% to CNY 5,096,119.29 million compared to the end of the previous year[17] - Total assets increased to approximately $50.96 billion, up from $45.17 billion, representing a growth of about 12.3% year-over-year[39] - Current assets totaled approximately $26.97 billion, compared to $25.95 billion, reflecting an increase of about 3.9%[39] - Non-current assets rose to approximately $23.99 billion, up from $19.22 billion, marking an increase of approximately 24.3%[39] - Total liabilities reached approximately $27.64 billion, compared to $22.87 billion, indicating a growth of about 20.0%[39] - Current liabilities amounted to approximately $27.28 billion, an increase from $22.62 billion, representing a rise of about 20.6%[39] - The company's total equity increased to approximately $23.33 billion from $22.29 billion, reflecting a growth of about 4.7%[39] - The company's retained earnings rose to approximately $12.65 billion from $11.40 billion, an increase of about 11.0%[39] Cash Flow - Net cash flow from operating activities decreased by 13.20% to CNY 382,754.70 million year-to-date[17] - The company's cash and cash equivalents decreased to approximately $3.09 billion from $5.19 billion, a decline of about 40.5%[42] - Cash inflow from operating activities for the first three quarters of 2020 was RMB 40.48 billion, up from RMB 35.27 billion in 2019, reflecting a growth of 15%[67] - The net cash flow from operating activities for the first three quarters of 2020 was RMB 3.83 billion, a decrease of 13% compared to RMB 4.41 billion in the same period of 2019[67] - Cash inflow from investment activities for the first three quarters of 2020 was RMB 9.83 billion, significantly higher than RMB 1.80 billion in 2019, marking an increase of 446%[67] - The net cash flow from investment activities for the first three quarters of 2020 was negative RMB 3.77 billion, worsening from negative RMB 1.67 billion in 2019[67] - Cash inflow from financing activities for the first three quarters of 2020 was RMB 4.70 billion, compared to RMB 2.57 billion in 2019, indicating an increase of 83%[67] - The net cash flow from financing activities for the first three quarters of 2020 was negative RMB 439.70 million, an improvement from negative RMB 2.53 billion in the same period of 2019[67] Shareholder Information - The total number of shareholders at the end of the reporting period was 61,415[21] - The largest shareholder, Xinyu Steel Group Co., Ltd., holds 1,217,098,232 shares, accounting for 38.17%[21] Investments and Future Plans - The company plans to spin off its subsidiary Jiangxi Xinhua Metal Products Co., Ltd. for listing on the Shanghai Stock Exchange, with the board approving the proposal on October 19, 2020[30] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[49] Research and Development - Research and development expenses for Q3 2020 were ¥147,822,853.29, compared to ¥122,868,874.89 in Q3 2019, indicating a 20.3% increase[48] - Research and development expenses for Q3 2020 were approximately ¥145.39 million, an increase from ¥120.71 million in Q3 2019, marking a rise of about 20.5%[59]