FUDA ALLOY(SH:603045)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 43.80% to CNY 28,490,482.14 year-to-date[6] - Basic and diluted earnings per share decreased by 43.21% to CNY 0.2092[7] - The net profit after deducting non-recurring gains and losses fell by 37.79% to CNY 21,503,463.96 year-to-date[6] - The company predicts a significant decline in cumulative net profit for the year compared to the same period last year due to increased asset impairment losses and reduced government subsidies[17] - Net profit for Q3 2020 was ¥20,840,698.29, compared to ¥17,424,711.77 in Q3 2019, reflecting a growth of 13.7%[29] - Net profit for Q3 2020 was ¥24,222,189.85, up 46.8% from ¥16,494,553.06 in Q3 2019[30] - The total comprehensive income for Q3 2020 was approximately ¥24.20 million, compared to ¥28.62 million in Q3 2019, indicating a decline of 15.5%[37] Revenue and Costs - Operating revenue for the first nine months rose by 34.00% to CNY 1,443,483,053.65 compared to the same period last year[6] - Total revenue for the period reached ¥1,443,483,053.65, representing a 34.00% increase compared to ¥1,077,187,686.66 in the same period last year[15] - The company's gross profit margin was impacted by a 35.00% increase in operating costs, totaling ¥1,250,245,999.47, due to rising material prices and increased sales volume[15] - Total operating revenue for Q3 2020 reached ¥632,355,849.94, a 56.6% increase from ¥403,790,893.19 in Q3 2019[34] - Total operating costs for Q3 2020 were ¥605,959,566.97, up 56.4% from ¥387,564,375.08 in Q3 2019[28] Assets and Liabilities - Total assets increased by 17.76% to CNY 1,733,213,242.57 compared to the end of the previous year[6] - The total net assets attributable to shareholders decreased by 2.03% to CNY 807,684,416.18 compared to the end of the previous year[6] - Current liabilities reached CNY 751,488,018.94, an increase from CNY 598,648,067.12[22] - Total liabilities reached ¥925,525,538.39 in Q3 2020, compared to ¥647,403,428.93 in Q3 2019, indicating a rise of 43%[26] - The company reported a short-term loan of CNY 606,259,724.05, up from CNY 515,688,012.95[22] - The company’s total liabilities included short-term borrowings of CNY 515,688,012.95[50] Cash Flow - The net cash flow from operating activities showed a decline of 9.86%, amounting to CNY -271,451,870.10[6] - Cash inflows from operating activities for the first nine months of 2020 totaled approximately ¥1.46 billion, an increase of 31.3% from ¥1.11 billion in the same period of 2019[39] - The net cash flow from operating activities for the first three quarters of 2020 was CNY -271,171,462.51, compared to CNY -247,058,605.08 in the first three quarters of 2019, indicating a decline in operational cash flow[41] - Cash inflows from investing activities for the first nine months of 2020 were approximately ¥178.66 million, a decrease of 83.1% from ¥1.06 billion in the same period of 2019[40] - The net cash flow from financing activities for the first nine months of 2020 was approximately ¥146.13 million, compared to ¥118.80 million in the same period of 2019, indicating a growth of 23.0%[40] Research and Development - Research and development expenses surged by 73.94% to ¥58,162,565.19, reflecting the company's commitment to enhancing its R&D capabilities[15] - R&D expenses in Q3 2020 amounted to ¥30,838,610.80, a significant increase of 146.7% compared to ¥12,497,667.70 in Q3 2019[29] - The company plans to continue investing in R&D and market expansion to drive future growth[29] Other Financial Metrics - The weighted average return on net assets decreased by 2.97 percentage points[7] - The company reported a loss from the disposal of non-current assets amounting to CNY -695,805.14 year-to-date[8] - Non-operating income included government subsidies totaling CNY 8,327,777.92 year-to-date[8] - The company reported a decrease in other comprehensive income, with a net amount of -¥146,312.80 in Q3 2020 compared to -¥262,246.37 in Q3 2019[36]