Lianming(SH:603006)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months was CNY 579,609,664.26, a decrease of 17.05% year-on-year[6] - Net profit attributable to shareholders was CNY 60,762,615.58, down 15.05% from the previous year[6] - Total operating revenue for Q3 2020 was approximately $226.65 million, a decrease of 7.4% compared to $245.45 million in Q3 2019[28] - Net profit for Q3 2020 was approximately $24.08 million, a decrease of 9.6% compared to $26.65 million in Q3 2019[29] - Total profit for Q3 2020 was approximately $30.21 million, down 2.8% from $35.18 million in Q3 2019[29] - The company’s total operating revenue for the first three quarters of 2020 was approximately $579.61 million, a decrease of 17.0% from $698.78 million in the same period of 2019[28] - Total profit for the first three quarters of 2020 was CNY 94,393,527.55, up from CNY 76,609,234.45 in the same period of 2019, reflecting a growth of 23.5%[32] Cash Flow - Net cash flow from operating activities increased by 29.71% to CNY 153,419,527.52 compared to the same period last year[6] - Cash flow from operating activities for the first three quarters of 2020 was CNY 153,419,527.52, an increase from CNY 118,282,612.75 in the same period of 2019[35] - Operating cash flow for the first three quarters of 2020 was CNY 282,997,638.55, a significant increase from CNY 155,818,738.84 in the same period of 2019, representing an increase of approximately 81.6%[38] - Net cash flow from operating activities in Q3 2020 was CNY 83,990,778.99, compared to a negative cash flow of CNY -30,161,393.11 in Q3 2019, indicating a turnaround in performance[39] - The company’s cash inflow from operating activities for the first nine months of 2020 was CNY 277,330,587.09, compared to CNY 154,450,969.94 in the same period of 2019, representing an increase of approximately 79.7%[38] Assets and Liabilities - Total assets decreased by 4.14% to CNY 1,949,563,654.27 compared to the end of the previous year[6] - Total liabilities decreased from CNY 654,047,835.54 in 2019 to CNY 526,268,220.74 in Q3 2020, a reduction of approximately 19.5%[23] - Total equity increased from CNY 1,379,664,628.47 in 2019 to CNY 1,423,295,433.53 in Q3 2020, reflecting a growth of about 3.2%[23] - Current assets rose from CNY 610,065,117.88 in 2019 to CNY 645,626,744.96 in Q3 2020, an increase of approximately 5.8%[25] - Non-current assets decreased from CNY 901,599,979.12 in 2019 to CNY 854,475,811.89 in Q3 2020, a decline of approximately 5.2%[25] - The company's retained earnings increased from CNY 721,658,477.02 in 2019 to CNY 759,491,710.28 in Q3 2020, a growth of approximately 5.2%[23] Shareholder Information - The number of shareholders at the end of the reporting period was 11,373[10] - The largest shareholder, Shanghai Lianming Investment Group Co., Ltd., holds 59.97% of the shares[10] Expenses - Sales expenses decreased by 33.68% to ¥8,515,320.26 due to reduced transportation costs from lower production[14] - Financial expenses decreased by 47.74% to ¥6,882,693.03 primarily due to a reduction in bank loan scale[14] - Research and development expenses for Q3 2020 were approximately $3.14 million, a decrease of 27.7% from $4.35 million in Q3 2019[28] - Financial expenses for the first three quarters of 2020 were CNY 7,235,851.18, significantly reduced from CNY 13,513,831.36 in the same period of 2019[31] Other Income - Other income increased by 60.00% to ¥10,985,116.75 mainly from government subsidies received[14] - The company reported a total of $10.99 million in other income for the first three quarters of 2020, compared to $6.87 million in the same period of 2019[28] - The company achieved other income of CNY 5,076,844.82 in the first three quarters of 2020, compared to CNY 497,777.76 in the same period of 2019[31] Cash Management - Cash and cash equivalents decreased by 34.92% to CNY 80,704,305.03 due to increased investments in financial products and repayment of bank loans[13] - Cash and cash equivalents decreased to ¥80,704,305.03 from ¥124,004,194.46 at the end of 2019[21] - The ending cash and cash equivalents balance for Q3 2020 was CNY 27,070,241.25, slightly up from CNY 25,796,392.68 in Q3 2019[39] - Cash and cash equivalents decreased by CNY 15,518,477.74 in Q3 2020, compared to a decrease of CNY 16,297,372.03 in Q3 2019, showing a slight improvement in cash management[39]