SNAT(SH:600841)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥2,228,108,896.57, a decrease of 43.18% compared to the same period last year[5] - The net profit attributable to shareholders was -¥368,580,216.78, representing a decline of 421.12% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥421,387,390.07, down 468.71% from the previous year[5] - Total operating revenue for the first three quarters of 2022 was CNY 7,954,907,304.95, a decrease of 62.1% compared to CNY 21,012,318,680.60 in the same period of 2021[28] - The net profit for the first three quarters of 2022 was a loss of CNY 598,974,339.66, compared to a profit of CNY 595,654,041.89 in the same period of 2021[30] - Operating profit for Q3 2022 was CNY 77,087,750.30, down from CNY 287,902,458.29 in Q3 2021, reflecting a decline of approximately 73%[43] - Net profit for Q3 2022 was CNY 103,159,350.28, compared to CNY 291,449,211.38 in Q3 2021, indicating a decrease of about 65%[43] Assets and Liabilities - Total assets at the end of the reporting period were ¥23,431,680,079.81, a decrease of 3.37% from the end of the previous year[7] - The company's total current assets as of September 30, 2022, amounted to ¥17,912,018,902.52, a slight decrease from ¥18,010,097,169.78 at the end of 2021, indicating a decline of approximately 0.54%[19] - The company's total liabilities as of September 30, 2022, were ¥17,912,018,902.52, compared to ¥18,010,097,169.78 at the end of 2021, indicating a decrease of approximately 0.54%[23] - The total liabilities were 4,479,720,401.48 RMB, a decrease from 5,010,558,715.59 RMB in the previous year, suggesting a reduction in financial obligations[39] - The total equity attributable to shareholders decreased to CNY 8,954,762,368.26 from CNY 9,769,291,490.19, indicating a decline of 8.3%[24] Cash Flow - The company reported a net cash outflow from operating activities of -¥3,418,265,424.18, reflecting reduced cash collections from sales[5] - The net cash flow from operating activities was -3,418,265,424.18 RMB, compared to -2,742,735,141.93 RMB in the previous period, indicating a decline in operational performance[34] - Cash inflow from investment activities totaled 1,372,797,802.48 RMB, significantly higher than 81,202,172.77 RMB in the previous period, reflecting improved investment recovery[34] - The net cash flow from financing activities was 2,487,312,355.85 RMB, a substantial increase from -87,100,804.30 RMB in the previous period, indicating stronger financing capabilities[36] - The company reported a cash outflow of 10,448,644,502.08 RMB from operating activities, down from 14,754,172,172.32 RMB in the previous period, indicating better cost management[34] Sales and Market Challenges - The decline in operating revenue was primarily due to a significant drop in heavy truck sales and engine sales, influenced by economic slowdown and pandemic impacts[12] - The company faced challenges in meeting its performance commitments for 2022 due to a significant decline in demand in the heavy truck market, influenced by economic downturns and pandemic impacts[16] - The company has implemented various measures to address market challenges, including policies to boost retail sales and reduce inventory[16] Investments and Returns - Investment income and fair value changes increased by 174.21% due to higher returns from joint ventures and rising fair values of equity investments[12] - The company reported an investment income of CNY 103,122,937.60, an increase from CNY 60,609,519.35 in the same period of 2021[28] - The cash inflow from the recovery of investments was 1,215,329,612.32 RMB, a significant increase from 26,624,175.78 RMB in the previous period, highlighting successful investment strategies[34] Research and Development - Research and development expenses for the first three quarters of 2022 were CNY 347,423,626.38, a slight decrease from CNY 360,522,343.34 in the same period of 2021[28] - Research and development expenses for the first three quarters of 2022 were CNY 203,821,866.44, an increase from CNY 181,632,492.97 in the same period of 2021, reflecting a growth of approximately 12%[42] Accounting and Regulatory Updates - The company will implement new accounting standards starting from 2022, affecting the financial statements from the beginning of the year[49] - The announcement was made by the board of Shanghai New Power Automotive Technology Co., Ltd. on October 27, 2022[50]