LGWH(SH:601599)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months decreased by 51.35% to CNY 1,225,757,970.29 compared to the same period last year[6]. - Net profit attributable to shareholders was a loss of CNY 996,980,269.34, a decrease of 1,259.58% compared to the same period last year[6]. - Basic earnings per share was -CNY 1.12, a decrease of 1,220.00% compared to the same period last year[7]. - The company reported a net loss of ¥1,361,098,387.60, compared to a loss of ¥364,118,118.26 in the previous year, indicating a worsening of approximately 273.5%[23]. - The company expects continued losses for the year due to the ongoing impact of the pandemic on the film and television industry[18]. - The net profit for the first three quarters of 2020 was ¥-626,899,378.53, compared to ¥-665,020,808.03 in the same period of 2019, indicating a slight improvement[27]. - The total revenue for Q3 2020 was approximately 52.18 million, a significant decrease compared to the previous year's loss of approximately 990.75 million[32]. - The net profit for Q3 2020 was approximately 29.11 million, while the previous year's net loss was approximately 1.02 billion[33]. - The total operating expenses for the first three quarters of 2020 were CNY 1.24 billion, down from CNY 1.40 billion in the same period of 2019, reflecting a decrease of 11.4%[38]. Asset and Liability Changes - Total assets decreased by 22.40% to CNY 4,186,249,152.31 compared to the end of the previous year[6]. - Net assets attributable to shareholders decreased by 64.85% to CNY 551,812,733.26 compared to the end of the previous year[6]. - Accounts receivable decreased by 54.33% to ¥773,233,447.61 due to impairment provisions[14]. - Total liabilities were reported at ¥3,600,033,617.85, down from ¥3,760,163,268.89, showing a decrease of approximately 4.3%[23]. - Current liabilities totaled ¥2,954,001,171.93, a decrease from ¥3,529,281,777.69, representing a decline of about 16.3%[22]. - Non-current assets totaled ¥1,397,388,520.73, down from ¥1,516,129,724.20, reflecting a decrease of about 7.8%[22]. - The company reported a total equity of ¥1,610,283,806.89, slightly up from ¥1,593,069,261.41 in the previous year[27]. - The total liabilities and equity amount to approximately 4.29 billion[56]. Cash Flow Analysis - Cash flow from operating activities decreased by 24.62% to CNY 361,953,187.81 compared to the same period last year[6]. - The net cash flow from operating activities for the first three quarters of 2020 was CNY 361,953,187.81, down 24.7% from CNY 480,195,349.58 in 2019[45]. - Cash inflow from financing activities in Q3 2020 was CNY 1,143,761,723.53, compared to CNY 1,459,156,695.12 in Q3 2019, reflecting a decrease of 21.6%[46]. - The company reported a net cash outflow from operating activities of -CNY 389,041,558.06 in the first three quarters of 2020, contrasting with a positive cash flow of CNY 339,894,677.86 in the same period of 2019[48]. - Cash inflow from investment activities totaled CNY 582,770,226.81 in the first three quarters of 2020, compared to CNY 88,295,232.88 in the same period of 2019[48]. Shareholder Information - The company had a total of 31,212 shareholders at the end of the reporting period[11]. - The top shareholder, Qian Wenlong, held 13.32% of the shares, amounting to 118,923,722 shares[11]. - The company’s major shareholder has changed to Zhejiang Cultural Investment Group, holding 18.64% of the total shares[16]. Strategic Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - The company plans to proceed with a non-public stock issuance following the approval of the acquisition of controlling interest by Zhejiang Cultural Investment Group[16]. - The company is focusing on strategic adjustments to enhance operational efficiency and reduce liabilities in the upcoming quarters[23]. - The company is focusing on improving its financial performance and reducing losses in the upcoming quarters[36].