VITI(SH:603023)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 56.37% to CNY 8,823,137.03 for the first nine months of the year[6]. - Operating revenue for the first nine months decreased by 44.84% to CNY 54,218,760.49 compared to the same period last year[6]. - The company reported a net loss of CNY 2,613,160.51 after deducting non-recurring gains and losses for the first nine months[6]. - The net profit for Q3 2020 was $8.82 million, down 56.37% from $20.22 million year-on-year, reflecting the adverse effects of the pandemic and reduced market demand[14]. - In Q3 2020, the company's operating revenue was CNY 15,982,231.82, a decrease of 57.8% compared to CNY 37,831,559.36 in Q3 2019[27]. - The net profit for Q3 2020 was CNY 177,882.99, down 97.4% from CNY 6,905,591.80 in Q3 2019[28]. - The company’s total comprehensive income for the first three quarters of 2020 was CNY 8,823,137.03, down from CNY 20,224,411.04 in the same period of 2019[29]. Assets and Liabilities - Total assets decreased by 5.82% to CNY 776,171,384.70 compared to the end of the previous year[6]. - Cash and cash equivalents decreased by 59.64% to $182.67 million from $452.63 million at the end of 2019, due to the purchase of trading financial assets[13]. - The company’s total liabilities decreased by 37.63% in notes payable, reflecting a decline in sales and reduced procurement[13]. - Total liabilities decreased to CNY 26,185,660.42 from CNY 108,861,122.49 in the previous year[25]. - Shareholders' equity increased to CNY 749,985,724.28 from CNY 715,299,643.00 at the end of 2019[25]. Cash Flow - Net cash flow from operating activities increased by 299.87% to CNY 40,721,846.03 for the first nine months[6]. - The company reported a net cash flow from operating activities of CNY 40,721,846.03 for the first three quarters of 2020, compared to CNY 10,183,705.37 in the same period of 2019[31]. - Investment activities resulted in a net cash outflow of CNY 258,331,744.63 in the first three quarters of 2020, compared to a net outflow of CNY 160,835,540.70 in the same period of 2019[32]. - The total cash and cash equivalents at the end of Q3 2020 were CNY 182,672,023.67, down from CNY 266,413,905.76 at the end of Q3 2019[32]. Shareholder Information - The total number of shareholders reached 23,478 at the end of the reporting period[11]. - The largest shareholder, Chen Zhenhua, holds 41.36% of the shares[11]. - The company plans to transfer a total of 21.43% of its shares, with the controlling shareholder changing from Chen Zhenhua to Lishui Jiuyou Fund[19]. Other Financial Metrics - Basic earnings per share decreased by 60.00% to CNY 0.02[7]. - The weighted average return on equity decreased by 1.86 percentage points to 1.25%[7]. - Basic earnings per share for the first three quarters of 2020 were CNY 0.02, with net assets per share at CNY 1.33 after the capital change[18]. - Basic earnings per share for Q3 2020 were CNY 0.00, compared to CNY 0.02 in Q3 2019[29]. - The gross profit margin for Q3 2020 was approximately 35.5%, compared to 47.3% in Q3 2019[27]. Government Support and Investments - The company received government subsidies amounting to CNY 5,031,157.62 during the reporting period[8]. - Investment income increased by 48.50% to $6.33 million, attributed to a higher amount of redeemed bank financial products[14]. - The cash flow from investment activities increased by 161.10% to $1.15 billion, driven by higher purchases of bank financial products[15]. - The company redeemed all convertible bonds during the reporting period, resulting in a 100% decrease in payable bonds and other equity instruments[13]. R&D and Expenses - Research and development expenses in Q3 2020 were CNY 3,917,807.05, slightly down from CNY 4,062,891.72 in Q3 2019[27]. - The company recorded a financial expense of CNY 1,234,014.72 in Q3 2020, significantly lower than CNY 3,584,076.20 in Q3 2019[27].