XIAC(SH:600897)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 75.64% to CNY 96,870,305.23 for the first nine months of the year[6] - Operating revenue for the first nine months dropped by 37.72% to CNY 834,780,222.85 compared to the same period last year[6] - Basic earnings per share fell by 75.64% to CNY 0.3253[6] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 81.35% to CNY 70,849,159.05[6] - Total operating revenue for Q3 2020 was CNY 354,170,751.68, a decrease of 20.1% compared to CNY 443,426,367.82 in Q3 2019[24] - Net profit for Q3 2020 was CNY 88,625,723.64, a decline of 37.5% from CNY 142,105,317.85 in Q3 2019[25] - Total profit for Q3 2020 was CNY 118,958,462.82, a decrease of 36.8% from CNY 188,062,070.98 in Q3 2019[25] - The company achieved an investment income of CNY 6,966,120.45 in Q3 2020, an increase of 47.8% from CNY 4,710,240.87 in Q3 2019[25] Assets and Liabilities - Total assets increased by 1.37% to CNY 4,618,623,702.82 compared to the end of the previous year[6] - Current liabilities increased to CNY 694,776,481.74 from CNY 581,061,976.17, reflecting a growth of approximately 19.5%[20] - Non-current liabilities totaled CNY 12,011,273.54, down from CNY 16,606,269.80, indicating a decrease of about 27.8%[20] - Total liabilities reached CNY 706,787,755.28, up from CNY 597,668,245.97, marking an increase of approximately 18.3%[20] - The company's retained earnings decreased to CNY 2,708,214,313.37 from CNY 2,767,098,638.14, a decline of about 2.1%[20] - Total assets as of September 30, 2020, amounted to CNY 4,618,623,702.82, an increase from CNY 4,556,114,871.40 at the end of 2019[20] Cash Flow - Net cash flow from operating activities decreased by 50.64% to CNY 263,079,709.32 for the first nine months[6] - Cash received from sales and services was ¥869,185,804.07, down by ¥445,951,653.76 or 33.91% year-on-year[13] - The cash flow from operating activities for the first three quarters of 2020 was approximately ¥869.19 million, a decrease of 33.9% compared to ¥1.32 billion in the first three quarters of 2019[32] - Total cash inflow from investment activities was CNY 1,991,246,321.19, up from CNY 1,360,987,824.95 in the same period last year[33] - Cash outflow from investment activities totaled CNY 2,029,077,218.57, compared to CNY 1,479,314,815.88 in Q3 2019, resulting in a net cash flow of -CNY 37,830,897.38[33] Shareholder Information - The total number of shareholders reached 18,410 by the end of the reporting period[8] - Xiamen Xiangye Group Co., Ltd. holds 68.00% of the shares, making it the largest shareholder[8] Government Support - The company received government subsidies amounting to CNY 11,916,510.09 for the first nine months[7] Taxation - The company reported a significant decrease in income tax expenses, which fell by 72.57% to ¥37,389,436.98 due to a reduction in total profit[12] - The company incurred tax expenses of approximately ¥21.81 million in Q3 2020, a decrease from ¥39.07 million in Q3 2019[29] Operational Challenges - The company anticipates a negative impact on net profit for the year due to the ongoing COVID-19 pandemic, although the extent and duration of this impact remain uncertain[15] - The company has not reported any new product developments or market expansion strategies in the current financial report[28]