HFM(SH:603011)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥317,617,038.77, representing a 12.34% increase compared to the same period last year[5] - The net profit attributable to shareholders was ¥28,863,399.77, showing a decrease of 14.60% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 5.20% to ¥25,167,090.42[5] - The company reported a 41.50% increase in operating revenue year-to-date, primarily due to recovery from the pandemic's impact on high-end forming machine tools[9] - Total revenue for the first three quarters of 2021 reached ¥766,843,617.13, a significant increase from ¥541,939,809.42 in the same period of 2020, representing a growth of approximately 41.6%[18] - Net profit for the first three quarters of 2021 was ¥49,417,781.76, up from ¥27,284,381.69 in 2020, reflecting a growth of approximately 81.5%[19] - The total comprehensive income for the third quarter of 2021 was CNY 49,417,781.76, compared to CNY 27,284,381.69 in the same period of 2020, representing an increase of approximately 81%[20] - Basic and diluted earnings per share for the third quarter of 2021 were CNY 0.11, up from CNY 0.06 in the same quarter of 2020, indicating an increase of 83.33%[20] Assets and Liabilities - The total assets as of the end of the reporting period were ¥2,891,552,446.51, reflecting an 8.64% increase from the end of the previous year[6] - The company's total assets as of September 30, 2021, were ¥2,891,552,446.51, an increase from ¥2,661,687,036.13 at the end of 2020, marking a growth of about 8.6%[16] - Current assets totaled ¥1,711,284,614.96 as of September 30, 2021, compared to ¥1,525,596,693.83 at the end of 2020, representing an increase of approximately 12.2%[16] - The company's total liabilities reached ¥1,151,150,350.44, up from ¥971,286,521.65, indicating an increase of about 18.5%[16] - Total liabilities reached approximately $971.29 million, with current liabilities at $937.83 million and non-current liabilities at $33.46 million[28] - The company’s total liabilities to total assets ratio stands at approximately 36.5%, indicating a moderate level of leverage[28] Cash Flow - The net cash flow from operating activities was negative at -¥73,369,137.82, indicating a significant cash outflow[6] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 920,113,180.04, compared to CNY 709,613,241.48 in the same period of 2020, reflecting a growth of about 29.6%[23] - The net cash flow from operating activities for the third quarter of 2021 was -CNY 73,369,137.82, worsening from -CNY 22,936,162.91 in the same quarter of 2020[23] - Cash outflow from investing activities for the first three quarters of 2021 was CNY 462,920,488.83, slightly higher than CNY 459,024,338.72 in the same period of 2020[24] - The net cash flow from financing activities for the third quarter of 2021 was CNY 63,897,035.92, significantly improved from CNY 7,265,553.13 in the same quarter of 2020[24] - The ending cash and cash equivalents balance as of the end of the third quarter of 2021 was CNY 101,024,533.65, down from CNY 134,644,233.79 at the end of the same quarter in 2020[24] Investments and Equity - The company has received government subsidies amounting to ¥3,209,851.73 during the reporting period, contributing to its financial performance[8] - The company is in the process of a non-public offering of shares, which was approved by the China Securities Regulatory Commission on October 11, 2021[12] - The company’s long-term equity investments were valued at approximately $112.04 million, reflecting strategic investment decisions[27] - Shareholders' equity totaled approximately $1.69 billion, with paid-in capital at $450.71 million and capital reserves at $1.03 billion[29] - The company’s retained earnings amounted to approximately $239.57 million, contributing to overall equity growth[29] Operational Metrics - Operating costs for the first three quarters of 2021 amounted to ¥726,499,936.60, compared to ¥523,564,216.94 in 2020, indicating an increase of about 38.8%[18] - The company's cash and cash equivalents decreased to ¥150,437,444.69 from ¥232,670,723.86, a decline of about 35.3%[15] - Accounts receivable increased to ¥429,352,349.15 from ¥385,533,865.98, reflecting a growth of approximately 11.4%[15] - Inventory levels rose to ¥788,838,066.92 from ¥613,014,923.67, indicating an increase of about 28.7%[15] - Short-term borrowings increased to ¥382,241,675.40 from ¥313,870,634.35, representing a rise of approximately 21.8%[15] - The company reported other receivables of approximately $30.31 million and inventory valued at approximately $613.01 million[27] - The company has a total of approximately $121.73 million in contract liabilities, indicating future revenue obligations[28] Changes in Accounting Standards - The company is adapting to new leasing standards starting from 2021, which may affect future financial reporting and cash flow management[24] - The company reported a decrease in non-current liabilities by approximately $2.12 million due to adjustments in lease liabilities[28]