SA(SH:601021)2020-10-30 16:00Financial Performance - Net profit attributable to shareholders was CNY -149.26 million, a decrease of 108.68% year-on-year[5] - Operating revenue decreased by 40.96% to CNY 6.83 billion for the period from January to September[5] - Basic earnings per share were CNY -0.16, a decline of 108.56% year-on-year[6] - The weighted average return on net assets was -1.00%, down 13.19 percentage points from the previous year[6] - The company reported a significant decline in net profit due to the impact of external factors, indicating a need for strategic adjustments moving forward[5] - The company experienced a net loss attributable to shareholders due to the impact of COVID-19, with significant declines in various revenue streams[15] - The company reported a net loss of CNY 308,754,825 after excluding non-recurring gains and losses, a decline of 119.46% year-on-year[42] - The company reported a total comprehensive loss of CNY 527,703,948 for the first three quarters of 2020, compared to a profit of CNY 1,607,437,498 in the same period of 2019[64] Assets and Liabilities - Total assets increased by 10.96% to CNY 32.59 billion compared to the end of the previous year[5] - The company's short-term borrowings increased by 51.08% to CNY 5.22 billion compared to CNY 3.46 billion at the end of 2019, driven by increased funding needs due to the COVID-19 pandemic[14][15] - Total liabilities increased to RMB 17.98 billion from RMB 14.33 billion, which is an increase of approximately 25.5%[20] - The company's equity attributable to shareholders decreased to RMB 14.60 billion from RMB 15.04 billion, a decline of about 2.9%[20] - The total liabilities increased to ¥18,676,246,737 as of September 30, 2020, compared to ¥15,224,562,510 at the end of 2019, representing a growth of 16.1%[22] - The total liabilities rose to CNY 18.68 billion, up from CNY 15.22 billion, indicating a growth of about 22.4%[59] Cash Flow - Net cash flow from operating activities dropped by 93.51% to CNY 207.56 million compared to the same period last year[5] - The company's cash flow from operating activities decreased by 93.51% to CNY 207.56 million from CNY 3.20 billion in the same period of 2019[14][15] - Cash flow from operating activities for the first three quarters of 2020 was 207,563,664 RMB, a sharp decline from 3,199,218,415 RMB in the same period of 2019[29] - The net cash flow from operating activities for the first three quarters of 2020 was -277,641,218 RMB, a significant decrease compared to 1,809,302,258 RMB in the same period of 2019[30] - The company reported a total cash inflow from financing activities of 11,071,662,266 RMB in the first three quarters of 2020, compared to 6,843,378,558 RMB in 2019, showing an increase of 61.5%[29] - The net cash flow from financing activities was 3,440,886,464 RMB, a turnaround from -712,115,604 RMB in the same period last year[67] Shareholder Information - The total number of shareholders reached 27,525 by the end of the reporting period[8] - The largest shareholder, Shanghai Spring International Travel Service, holds 54.99% of the shares[11] - The number of shareholders reached 27,525, with the largest shareholder holding 54.99% of the shares[45] Government Support - The company received government subsidies totaling CNY 211.73 million for the year-to-date, which are closely related to normal business operations[7] - The company received government subsidies totaling CNY 211,729,056 year-to-date, primarily for special support funds and tax refunds[44] Operational Challenges - The company's operating revenue decreased significantly due to the impact of COVID-19, resulting in a net loss attributable to shareholders[52] - The company reported a significant reduction in accounts receivable by 44.68%, down to CNY 66.86 million from CNY 120.85 million, attributed to decreased ticket receivables due to the pandemic[13][14] - The company reported a decrease in investment income, primarily due to reduced dividend income from other equity investments[52] Investment and Development - The company completed a capital increase of up to CNY 750 million (approximately JPY 11 billion) to Spring Airlines Japan, with CNY 731 million already paid[16] - Research and development expenses for Q3 2020 were ¥28,595,880, a decrease of 50.9% from ¥58,186,161 in Q3 2019[24] - The company plans to focus on market expansion and new product development to recover from the current financial downturn[65]