NCFC(SH:600889)2022-10-25 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥102,750,807.94, representing a year-on-year increase of 10.27%[4] - The net profit attributable to shareholders was -¥33,619,800.27, a significant decrease of 1,028.50% compared to the same period last year[4] - The basic earnings per share for the quarter was -¥0.09, reflecting a decrease of 1,028.50% year-on-year[4] - Total operating revenue for the first three quarters of 2022 reached ¥372,595,275.60, an increase from ¥350,480,746.58 in the same period of 2021, representing a growth of approximately 6.4%[20] - The net profit for the first three quarters of 2022 was a loss of ¥98,145,721.67, compared to a profit of ¥124,407,218.27 in the same period of 2021[21] - The total comprehensive income for the first three quarters of 2022 was a loss of ¥100,262,094.62, compared to a gain of ¥122,262,998.31 in the same period of 2021[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,039,868,375.76, down 3.40% from the end of the previous year[5] - The company's equity attributable to shareholders decreased by 7.26% to ¥1,139,992,439.65 compared to the end of the previous year[5] - The company's total liabilities as of the end of the third quarter of 2022 amounted to ¥816,369,953.86, an increase from ¥767,493,719.38 at the end of the previous year[22] - The total equity attributable to shareholders decreased to ¥1,139,992,439.65 from ¥1,229,214,837.77 year-over-year[22] Cash Flow - Cash flow from operating activities was not applicable, with a cumulative cash flow of -¥58,773,249.46 year-to-date[4] - Cash inflow from operating activities for the first three quarters of 2022 was approximately $300.24 million, a decrease of 28% compared to $416.08 million in the same period of 2021[24] - Cash outflow from operating activities in Q3 2022 was approximately $359.01 million, down from $462.76 million in Q3 2021, resulting in a net cash flow from operating activities of -$58.77 million[25] - The ending cash and cash equivalents balance for Q3 2022 was approximately $24.66 million, a decrease from $101.90 million at the end of Q3 2021[26] - The company experienced a net decrease in cash and cash equivalents of approximately $44.16 million in Q3 2022, compared to a decrease of $57.31 million in Q3 2021[26] Accounts Receivable and Inventory - Accounts receivable increased by 65.63% due to higher sales this year, leading to a corresponding increase in receivables[9] - Accounts receivable increased to CNY 37,409,583.02 from CNY 22,585,794.58, marking an increase of about 65.5%[15] - Inventory levels rose to CNY 214,934,758.75, compared to CNY 166,121,812.14, reflecting an increase of approximately 29.3%[15] Research and Development - Research and development expenses decreased by 44.17% as material inputs for R&D were reduced[9] - Research and development expenses for the first three quarters of 2022 were ¥8,167,333.94, down from ¥14,629,522.45 in the same period of 2021, reflecting a decrease of approximately 44.3%[20] Borrowings - Short-term borrowings increased to CNY 9,000,000.00 from CNY 2,714,654.07, indicating a significant rise in short-term debt[17] - The company's long-term borrowings increased to ¥178,044,928.18 from ¥103,435,289.16 year-over-year, indicating a significant rise of approximately 71.9%[22] Legal and Corporate Actions - The company has initiated litigation against Daqing Oilfield Feima Co., Ltd. and Shanghai Zhengyun Enterprise Management Consulting Partnership regarding unpaid performance compensation, with the cases yet to be heard due to pandemic impacts[14] - The company has completed the establishment of its wholly-owned subsidiary, Jiangsu Lingyue New Materials Technology Co., Ltd.[14] - The company has fully utilized the raised funds according to relevant regulations and plans, and has decided to cancel the special account for raised funds[14] Cash Management - The company reported a significant increase in tax refunds received, totaling approximately $72.58 million in the first three quarters of 2022, compared to $6.34 million in the same period of 2021[24] - The company paid approximately $101.46 million for the acquisition of fixed assets and intangible assets in Q3 2022, compared to $256.89 million in Q3 2021[25] - The company received approximately $59 million from investment recoveries in Q3 2022, down from $216.79 million in Q3 2021[25]