SMIC(SH:600810)2022-10-28 16:00Financial Performance - Q3 2022 revenue was CNY 3,059,268,567.45, a decrease of 15.68% year-over-year, while year-to-date revenue reached CNY 10,658,722,636.93, an increase of 7.48%[7] - The net profit attributable to shareholders was a loss of CNY 11,972,346.96 for Q3 2022, a decline of 101.86% year-over-year, and a year-to-date profit of CNY 514,485,651.72, down 68.21%[7] - Basic earnings per share for Q3 2022 was -CNY 0.01, a decrease of 101.43% compared to the same period last year, while year-to-date basic earnings per share was CNY 0.49, down 72.78%[9] - The total comprehensive income attributable to the parent company's owners for Q3 2022 was CNY 514,485,651.72, compared to CNY 1,618,479,787.13 in Q3 2021, representing a decrease of approximately 68.3%[45] - The net profit for Q3 2022 was CNY 535,750,975.22, down from CNY 1,651,349,609.94 in Q3 2021, indicating a decline of about 67.5%[43] - Basic earnings per share for Q3 2022 were CNY 0.49, compared to CNY 1.80 in Q3 2021, reflecting a decrease of approximately 72.8%[45] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 1,540,026,284.64, a decrease of 21.45% year-over-year[9] - Cash inflow from operating activities for Q3 2022 totaled CNY 11,938,378,799.52, an increase from CNY 8,572,478,755.65 in Q3 2021, representing a growth of about 39.5%[48] - The net cash flow from operating activities for Q3 2022 was CNY 1,540,026,284.64, down from CNY 1,960,545,381.71 in Q3 2021, indicating a decline of approximately 21.4%[48] - Cash and cash equivalents at the end of Q3 2022 amounted to CNY 8,183,236,460.47, compared to CNY 5,979,556,323.83 at the end of Q3 2021, showing an increase of about 37.0%[48] - The company reported cash outflows from investing activities of CNY 1,668,795,037.77 in Q3 2022, compared to CNY 1,882,938,577.59 in Q3 2021, reflecting a decrease of approximately 11.4%[48] - The net cash flow from financing activities for Q3 2022 was CNY 1,386,755,988.08, slightly up from CNY 1,354,270,924.09 in Q3 2021, indicating a growth of about 2.4%[48] Assets and Liabilities - Total assets at the end of Q3 2022 were CNY 27,710,409,076.19, an increase of 7.00% compared to the end of the previous year[9] - Total liabilities reached CNY 18,277,936,771.30, compared to CNY 17,557,503,545.46 in the previous year, marking an increase of 4.12%[36] - Non-current liabilities totaled CNY 7,106,193,649.17, up from CNY 4,682,031,685.56, reflecting a significant increase of 51.59%[36] - The company's total equity increased to CNY 9,432,472,304.89 from CNY 8,339,017,817.23, showing a growth of 13.13%[36] - The total current assets as of September 30, 2022, were approximately RMB 15.13 billion, compared to RMB 14.42 billion at the end of 2021, marking a growth of 4.9%[31] Research and Development - Research and development expenses for the year-to-date period increased by 40.90% due to intensified R&D efforts[15] - Research and development expenses for the first three quarters of 2022 were CNY 422,632,854.50, compared to CNY 299,947,245.35 in 2021, indicating an increase of 41.00%[39] - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[12] Shareholder Information - Total number of common shareholders at the end of the reporting period was 45,873, with the largest shareholder, China Pingmei Shenma Group Co., Ltd., holding 613,462,015 shares, representing 58.75% of the total[16] - The top ten unrestricted shareholders collectively hold a total of 283,317,331 shares, with the largest individual shareholder, He Huiling, holding 4,749,061 shares, representing 0.45%[20] - The company has no known related party relationships among its top shareholders, ensuring independent decision-making[24] Market and Operational Insights - The company reported a significant decline in the selling price of its main products, which contributed to the drop in net profit[12] - The company experienced a 40.36% decrease in accounts receivable financing at the end of the reporting period, primarily due to reduced cash inflows from notes receivable[15] - Accounts receivable increased to RMB 1.26 billion from RMB 1.07 billion year-over-year, indicating a growth of 18.1%[31] - Inventory levels rose to RMB 1.37 billion, up from RMB 1.08 billion, representing an increase of 27% compared to the previous year[31] - The company plans to raise up to RMB 30 billion through the issuance of convertible bonds to fund projects including the nylon chemical industry and a 240,000-ton bisphenol A project[27] - The company completed a capital increase of RMB 1.2 billion for its wholly-owned subsidiary, Henan Shenma Nylon Chemical Co., Ltd., with the new investor holding a 20.22% stake[26]