2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥2,566,000,003.31, representing a year-on-year increase of 10.59%[7] - The net profit attributable to shareholders for Q3 2021 was ¥157,796,448.02, reflecting a year-on-year increase of 2.24%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥134,271,684.72, showing a year-on-year decrease of 6.92%[7] - The net profit attributable to the parent company for the first three quarters increased by 40.08% year-on-year, indicating improved economic operation quality and efficiency[22] - The net profit for the third quarter of 2021 was approximately ¥671.21 million, an increase of 39.7% compared to ¥480.28 million in the same period of 2020[39] - The total profit for the third quarter of 2021 reached ¥715.92 million, up from ¥494.61 million in the previous year, reflecting a growth of 44.7%[39] - The company reported a net profit of ¥1,380,053,213.12 for the first three quarters, compared to ¥795,064,178.33 in the previous year, reflecting a growth of 73.5%[31] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥13,426,603,833.73, an increase of 8.78% compared to the end of the previous year[7] - Total assets increased to ¥13,426,603,833.73 from ¥12,342,608,882.99, marking an increase of 8.8%[29] - Current assets totaled ¥8,777,175,207.17, up from ¥7,442,992,787.99, indicating a growth of 17.9%[29] - Total liabilities decreased to ¥7,157,741,386.57 from ¥7,367,087,045.88, a reduction of 2.8%[31] - The company's equity increased to ¥6,268,862,447.16 from ¥4,975,521,837.11, representing a growth of 25.9%[31] Cash Flow - The cash flow from operating activities for the year-to-date was ¥1,462,578,897.44, reflecting a significant increase of 89.94% year-on-year[7] - Cash inflow from operating activities totaled ¥7.18 billion, an increase from ¥4.69 billion in the same period last year, reflecting a growth of 53.3%[41] - The net cash flow from operating activities was $1,462,578,897.44, an increase from $770,015,117.53[44] - The total cash and cash equivalents at the end of the period reached $2,802,838,968.73, up from $1,061,597,881.42[44] - The company reported a significant increase in cash and cash equivalents, reflecting improved liquidity position[44] Sales and Market Performance - The main products' sales volume increased year-on-year, contributing to the growth in net profit attributable to shareholders[11] - In the first three quarters of 2021, the company sold a total of 64,600 large and medium tractors, representing a year-on-year increase of 35.29%, outperforming the industry growth rate[22] - The company's diesel engine products achieved sales of 108,600 units in the same period, with a year-on-year growth of 23.90%[22] - The company maintains a leading market share in the agricultural machinery sector despite a slowdown in industry growth due to various external factors[22] Cost Management and Efficiency - The company is focusing on strict cost control and the disposal of inefficient assets to boost overall performance[22] - The company's sales expenses decreased to ¥118.77 million from ¥268.88 million, a reduction of 55.8%[39] - The financial expenses, including interest expenses, decreased significantly to ¥31.49 million from ¥29.80 million, reflecting a decrease of 5.7%[39] Research and Development - Research and development expenses increased to ¥281.60 million, compared to ¥249.57 million in the same quarter of 2020, marking a rise of 12.8%[39] Shareholder Structure - The company has a significant shareholder structure, with China Yituo Group holding 48.81% of shares, indicating strong backing from state-owned entities[22] Corporate Governance - The company is undergoing a transition in its board and supervisory committee, with elections postponed to ensure continuity and stability[22] - The company applied for bankruptcy liquidation of its subsidiary, which has not yet been accepted by the local court as of the report date[22] Financing Activities - Cash received from loans amounted to $480,000,000.00, a decrease from $1,331,481,348.34 in the previous period[44] - The company received $697,999,997.00 from investment absorption during the financing activities[44]