CETC Chips(SH:600877)2021-10-27 16:00Financial Performance - In Q3 2021, the company's operating revenue reached ¥352,699,233.09, a 20.06% increase compared to ¥293,760,049.66 in Q3 2020[10] - The net profit for Q3 2021 was ¥39,586,225.05, reflecting a significant growth of 75.17% from ¥22,598,594.97 in Q3 2020[10] - The net profit attributable to shareholders of the listed company in Q3 2021 was ¥19,118,692.85, up 76.94% from ¥10,805,273.31 in Q3 2020[10] - For the first nine months of 2021, the operating revenue totaled ¥936,668,396.88, marking a 14.17% increase from ¥820,395,408.04 in the same period of 2020[10] - The net profit for the first nine months of 2021 was ¥106,795,271.32, a 55.72% increase compared to ¥68,583,244.45 in the same period of 2020[10] - The company achieved a revenue of 350 million yuan in the reporting period, representing a year-on-year growth of 20.06%[38] - Net profit for the period was 39.5862 million yuan, a year-on-year increase of 75.17%, with net profit attributable to shareholders reaching 19.1187 million yuan, up 76.94%[38] Cash Flow and Assets - The net cash flow from operating activities for the first nine months of 2021 surged by 652.11% to ¥62,204,415.87 from ¥8,270,604.37 in the same period of 2020[10] - The company experienced a significant decrease in cash and cash equivalents by 67.01%, primarily due to changes in the consolidation scope and operational needs, resulting in a reduction of 74,566,900.88 RMB[26] - Cash and cash equivalents at the end of the period amounted to 118,817,730.63 RMB, down from 254,693,511.74 RMB in the previous year[63] - Total cash inflow from operating activities was 1,037,407,635.39 RMB, while total cash outflow was 1,048,209,334.83 RMB, resulting in a net cash flow of -10,801,699.44 RMB[63] - The company reported a significant increase in cash outflow for investment activities, totaling 116,061,359.56 RMB, compared to 13,284,291.50 RMB in the previous year[63] - As of September 30, 2021, total assets amounted to RMB 1,639,998,421.03, a decrease from RMB 2,174,092,048.84 as of December 31, 2020, reflecting a decline of approximately 24.5%[44] - The company's cash flow from operating activities was impacted by the exclusion of certain assets from the consolidation scope, affecting the cash flow by approximately 56,594,161.12 RMB[63] Liabilities and Equity - The total liabilities as of September 30, 2021, were RMB 682,261,637.63, down from RMB 858,407,957.04, indicating a decrease of about 20.5%[49] - The company's equity attributable to shareholders decreased from RMB 818,862,751.75 to RMB 419,994,390.59, a decline of approximately 48.7%[49] - Total liabilities amounted to 879,865,253.94, an increase of 21,457,296.90 compared to the previous period[68] - Current liabilities reached 818,511,660.65, with a total increase of 9,030,615.68[68] - The company reported an accumulated deficit of -276,638,948.63 in undistributed profits[68] Asset Restructuring and Business Focus - The company completed a major asset restructuring in April 2021, changing its main business focus to silicon-based analog semiconductor chips and related products[4] - As of September 15, 2021, the company received conditional approval from the China Securities Regulatory Commission for its share issuance to acquire assets[4] - The company reported a significant increase in revenue from its newly acquired assets, with Southwest Design's revenue growing by 27.51% and Chip Yida's revenue increasing by 59.29% in Q3 2021[10] - The company plans to fully consolidate the profits from the newly acquired assets after the completion of the share issuance transaction[13] - The company is focused on enhancing its operational efficiency and financial stability following the significant asset restructuring completed in the first half of 2021[20] Research and Development - Southwest Design developed a low-frequency dual-channel LNASIP, which has entered mass production, marking a breakthrough in FEM products for base station applications[38] - The company completed the iteration upgrade of its core product line for DC motor driver chips, achieving mass production of the next-generation chips based on 90nm BCD technology[39] - The company is actively promoting new high-power density GaN fast chargers, with mass production expected in March 2022 for three models[39] Financial Expenses and Management - Financial expenses decreased significantly due to improved sales and reduced loan amounts, resulting in a 69.22% decline in financial costs[38] - The company recorded an increase in tax and additional charges by 34.66%, amounting to an increase of 1,337,201.90 yuan compared to the same period last year[38] - The company's financial expenses significantly decreased to 6,502,419.83 RMB from 21,124,638.14 RMB, a reduction of approximately 69.2%[53] - The company reported a decrease in management expenses to 37,450,463.32 RMB from 40,986,270.07 RMB, a decline of approximately 8.3%[53] Non-Recurring Gains and Losses - The company reported a net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, for the period from January to September, amounting to a loss of -7,626.58 RMB due to asset disposal losses totaling -22,314.51 RMB[20] - The company reported a total of 1,887,975.28 RMB in non-recurring gains and losses for the current period, with a cumulative total of 25,736,500.10 RMB year-to-date[24]