Zhuzhou Kibing (SH:601636)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders rose by 31.13% to CNY 1.22 billion year-on-year[5] - Basic earnings per share increased by 28.80% to CNY 0.4553[5] - The weighted average return on equity improved by 2.1 percentage points to 14.11%[5] - Revenue for the first nine months was CNY 6.56 billion, a slight increase of 0.35% year-on-year[5] - The company reported a net profit of CNY 1.14 billion after deducting non-recurring items, up 33.68% from the previous year[5] - Total operating revenue for Q3 2020 reached ¥2,764,420,650.12, an increase of 12.1% compared to ¥2,465,773,809.82 in Q3 2019[20] - Net profit for Q3 2020 was ¥709,712,972.64, representing a 73.5% increase from ¥408,724,164.94 in Q3 2019[21] - The total profit for Q3 2020 was ¥359,610,525.28, compared to ¥16,568,630.15 in Q3 2019, reflecting a substantial increase of 2,169.73%[22] Cash Flow - Operating cash flow increased significantly by 59.67% to CNY 1.63 billion for the first nine months[5] - Cash flow from operating activities for the first three quarters of 2020 was ¥1,632,753,374.44, up from ¥1,022,584,280.89 in the same period of 2019, representing a growth of 59.83%[23] - The company reported cash inflow from operating activities totaling ¥5,364,332,511.38 for the first three quarters of 2020, compared to ¥4,536,412,614.37 in 2019, an increase of 18.25%[23] - The ending balance of cash and cash equivalents was CNY 21,687,598.99, down from CNY 74,307,445.98 at the end of the previous year[25] - The company reported a total cash inflow from financing activities for the first three quarters of 2020 was ¥2,586,367,350.47, compared to ¥1,849,264,709.79 in 2019, indicating an increase of 40.00%[23] Assets and Liabilities - Total assets increased by 5.34% to CNY 13.76 billion compared to the end of the previous year[5] - Current assets totaled RMB 2.945 billion, compared to RMB 2.505 billion in the same period last year, reflecting a growth of approximately 17.6%[16] - The company's total liabilities amounted to ¥2,066,802,703.84, compared to ¥1,313,605,467.98 in the previous year[19] - The total current liabilities increased to ¥3,650,713,185.24 from ¥3,092,852,680.08[17] - The company's total liabilities and equity reached ¥13,762,676,157.43, compared to ¥13,065,336,744.15 in the previous year[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 72,101[7] - The largest shareholder, Fujian Qibin Group Co., Ltd., held 25.36% of the shares[7] - The company completed the exchange of 192,577,021 shares as part of the convertible bond exchange, resulting in the controlling shareholder holding 40.34% of the total share capital[12] Inventory and Receivables - Accounts receivable increased by 39.91% to CNY 160,383,697.61 due to increased sales of energy-saving architectural glass[9] - Inventory rose by 57.76% to CNY 1,062,501,958.64 primarily due to increased strategic reserves[9] - The company’s total receivables, including accounts receivable and other receivables, amounted to CNY 1,033,794,678.72[29] Investments - The company increased its investment in Liling Qibin Electronic Glass Co., Ltd. by RMB 2 million, raising its registered capital from RMB 181.64 million to RMB 183.64 million, resulting in an increase in ownership from 17.4191% to 18.3184%[13] - The investment in Hunan Qibin Pharmaceutical Materials Technology Co., Ltd. was also increased by RMB 2 million, raising its registered capital from RMB 100 million to RMB 102 million, with ownership increasing from 30.80% to 32.1569%[13] - The company plans to invest RMB 1.027 billion in a new 1200t/d photovoltaic component high-transmittance substrate production line in Hunan Province[13] Management and Expenses - Management expenses increased by 46.86% to CNY 431,442,462.93, mainly due to increases in equity incentives and performance-related costs[10] - The company’s management expenses for Q3 2020 were ¥13,972,174.68, a significant rise from ¥4,006,556.54 in Q3 2019, reflecting an increase of 248.36%[22] Research and Development - Research and development expenses for Q3 2020 were ¥109,042,735.58, slightly up from ¥108,462,091.24 in Q3 2019[20]