BAIDA GROUP(SH:600865)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was CNY 52,790,322.72, representing a year-on-year increase of 1.81%[6] - The net profit attributable to shareholders decreased by 56.43% to CNY 44,889,607.06 compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses increased by 75.42% to CNY 18,987,388.34[6] - Basic and diluted earnings per share were both CNY 0.12, down 56.17% from the previous year[7] - The weighted average return on equity decreased by 3.20 percentage points to 2.03% for the current period[7] - Total operating revenue for the first three quarters of 2021 reached ¥179,898,504.28, an increase from ¥160,440,175.56 in the same period of 2020, representing an increase of approximately 12.8%[26] - Net profit for the first three quarters of 2021 was ¥143,059,281.52, compared to ¥178,385,936.85 in 2020, reflecting a decrease of approximately 19.8%[27] - Earnings per share for the first three quarters of 2021 were ¥0.38, down from ¥0.47 in the same period of 2020, a decline of about 19.1%[28] - The total comprehensive income for the first three quarters of 2021 was ¥143,059,281.52, down from ¥178,385,936.85 in 2020, a decrease of about 19.8%[28] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period decreased by 75.28% to CNY 10,505,858.23[6] - The company's cash and cash equivalents decreased by 30.72% due to increased procurement payments by its subsidiary, Hangzhou Department Store[11] - The net cash flow from operating activities decreased by 75.28%, primarily due to increased payments for goods procurement[12] - Cash generated from operating activities in the first three quarters of 2021 was ¥758,337,018.57, compared to ¥617,691,235.61 in 2020, an increase of approximately 22.7%[29] - The ending cash and cash equivalents balance was $140,526,198.86, up from $134,686,097.78 in Q3 2020[31] - The total cash inflow from operating activities was $814,401,742.38, an increase of 23.5% from $659,400,857.51 in Q3 2020[30] - The total cash outflow from operating activities was $803,895,884.15, which increased by 30.2% compared to $616,895,975.79 in the same quarter last year[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,671,133,577.64, an increase of 2.47% from the end of the previous year[7] - The equity attributable to shareholders increased by 6.64% to CNY 2,300,998,782.22 compared to the end of the previous year[7] - The company's total assets as of September 30, 2021, were RMB 2.67 billion, an increase from RMB 2.61 billion at the end of 2020, reflecting a growth of about 2.5%[23] - The company has a total of RMB 1.2 billion in current assets as of September 30, 2021, compared to RMB 1.36 billion at the end of 2020, indicating a decrease of approximately 11.6%[22] - The company’s non-current liabilities totaled RMB 34.99 million as of September 30, 2021, compared to RMB 35.58 million at the end of 2020, showing a slight decrease[23] - Total liabilities decreased from ¥448,566,181.31 in the previous year to ¥369,816,402.75 in 2021, a reduction of about 17.6%[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,745[13] - The largest shareholder, Xizi International Holdings Co., Ltd., holds 32.00% of the shares[13] - The company’s actual controller is Chen Xiaxin, who is also the chairman of Xizi International Holdings Co., Ltd.[15] Management and Legal Matters - The company has a management agreement with Zhejiang Intime Department Store Co., Ltd. for a period of 20 years, starting from March 1, 2008[16] - The company signed a supplementary management agreement with Intime Retail on November 10, 2016, to adjust the management of its Hangzhou department store, maintaining the profit base unchanged[17] - The company is actively pursuing legal action against tenants for overdue rent, including a lawsuit against Hangzhou Haiwei Hotel Management Co., which has defaulted on rental payments[19] - The company has been involved in multiple legal disputes regarding rental agreements, indicating ongoing challenges in its property management operations[20] Government and Non-Recurring Gains - The company received government subsidies amounting to CNY 5,814,204.43 during the current period[9] - The company reported a non-recurring gain from entrusted asset management of CNY 24,203,022.27 for the year-to-date period[9] - The company reported a significant increase in non-operating income, mainly due to an increase in insurance claims received[11] - The company reported investment income of ¥82,547,398.88 for the first three quarters of 2021, up from ¥57,366,905.43 in 2020, an increase of about 43.9%[27] Investment Activities - The total cash inflow from investment activities was $2,070,739,637.46, up from $1,177,169,488.27 in the same quarter last year, representing a 76.0% increase[30] - Cash outflow from investment activities totaled $2,142,077,618.98, compared to $1,243,589,987.33 in Q3 2020, indicating a 72.3% increase[30] - The net cash flow from investment activities was -$71,337,981.52, slightly worsening from -$66,420,499.06 in Q3 2020[30] Interest Expenses - The company incurred interest expenses of ¥1,482,583.35 in 2021, significantly higher than ¥488,194.45 in 2020, indicating an increase of approximately 203.5%[27]