SMC(SH:600823)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 30.04% year-on-year to CNY 1.08 billion for the first nine months[6]. - Operating revenue for the first nine months was CNY 12.01 billion, down 20.30% compared to the same period last year[6]. - Basic earnings per share decreased by 29.27% to CNY 0.29 per share[7]. - The weighted average return on equity dropped by 2.15 percentage points to 4.17%[7]. - Non-operating income for the first nine months amounted to CNY 17.66 million, down from CNY 58.37 million in the previous year[10]. - The company reported a net loss from non-operating activities of CNY 394,805.56 in the third quarter[9]. - The company's operating revenue for Q3 2020 was CNY 12,011,142,412.83, a decrease of 20.30% compared to CNY 15,070,970,700.66 in the same period last year[15]. - The company reported a decrease in total operating revenue for the first three quarters of 2020 to ¥12,011,142,412.83 from ¥15,070,970,700.66 in the same period of 2019[27]. - The net profit for Q3 2020 was ¥166,990,839.75, compared to ¥268,205,549.16 in Q3 2019, indicating a decrease of about 37.7%[33]. - The total comprehensive income for Q3 2020 was ¥176,999,589.75, down from ¥268,906,799.16 in Q3 2019, reflecting a decline of approximately 34.2%[34]. Cash Flow and Liquidity - Net cash flow from operating activities improved significantly, reaching CNY 1.89 billion, a 156.87% increase from a negative cash flow in the previous year[6]. - The net cash flow from operating activities increased by 156.87% to CNY 1,885,356,594.51, compared to a negative cash flow of CNY 3,315,091,998.74 in the previous year[15]. - The cash and cash equivalents at the end of Q3 2020 stood at approximately ¥15.30 billion, a substantial increase from ¥6.92 billion at the end of Q3 2019, marking a year-over-year growth of 120.5%[38]. - The company reported a significant increase in cash received from operating activities, with a total of approximately ¥14.41 billion in Q3 2020, compared to ¥2.73 billion in Q3 2019, representing a growth of 426.5%[37]. - The cash flow from operating activities for the first three quarters of 2020 was negative at approximately ¥880.33 million, compared to a smaller negative cash flow of ¥235.77 million in the same period of 2019, indicating ongoing challenges in operational cash generation[40]. Assets and Liabilities - Total assets increased by 12.13% year-on-year to CNY 143.04 billion as of the end of the reporting period[6]. - The company's cash and cash equivalents at the end of the period were CNY 15,558,509,940.10, representing 10.88% of total assets, up from 10.06% in the previous period[16]. - Inventory increased by 21.77% to CNY 59,296,435,849.80, compared to CNY 48,694,234,848.17 in the previous period[17]. - The company's accounts payable increased by 16.30% to CNY 14,829,268,344.62, compared to CNY 12,750,664,431.39 in the previous period[17]. - The company’s total liabilities increased, with long-term borrowings rising by 82.65% to CNY 10,418,926,857.14 from CNY 5,704,400,000.00[17]. - Total liabilities increased to ¥94.50 billion, compared to ¥79.36 billion in the previous year, reflecting a growth of 19.1%[21]. - Total liabilities as of Q3 2020 amounted to ¥34,755,399,153.39, an increase from ¥30,064,514,562.30 in the same period last year[24]. - Total liabilities reached ¥79,359,831,283.30, with current liabilities at ¥62,608,131,193.08 and non-current liabilities at ¥16,751,700,090.22[44]. Shareholder Information - The total number of shareholders reached 36,142 by the end of the reporting period[11]. - The largest shareholder, Peak Win International Limited, holds 43.73% of the shares, totaling 1.64 billion shares[11]. - The company reported a total equity of ¥48.54 billion, slightly up from ¥48.20 billion, indicating a growth of 0.7%[21]. - Shareholders' equity totaled ¥9,782,382,979.71 in Q3 2020, down from ¥9,989,331,416.59 in Q3 2019[24]. Investment and Financial Management - Long-term equity investments rose by 36.63% to CNY 1,355,021,419.91 from CNY 991,714,153.59 year-on-year[17]. - The company has a long-term equity investment of ¥991,714,153.59, showcasing its strategic investment approach[43]. - The company received approximately ¥5.47 billion from bond issuance in Q3 2020, compared to ¥4.47 billion in Q3 2019, reflecting a year-over-year increase of 22.4%[41]. - The total cash outflow from investment activities in Q3 2020 was approximately ¥889.12 million, significantly lower than the ¥2.14 billion outflow in Q3 2019, indicating improved capital management[37]. Changes in Accounting and Reporting - The company has reclassified pre-received customer contract payments from "prepayments" to "contract liabilities" in accordance with new revenue standards effective January 1, 2020[45]. - The company began implementing the new revenue recognition standards from January 1, 2020, affecting the classification of contract liabilities[49].