Hengdian Entertainment (SH:603103)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY -368,040,458.07, representing a decline of 241.31% year-on-year[18]. - Operating revenue for the first nine months was CNY 399,136,082.72, down 81.27% from CNY 2,131,179,093.25 in the same period last year[18]. - The company's operating revenue for the third quarter of 2020 was RMB 399.14 million, a decrease of 81.27% compared to RMB 2.13 billion in the same period last year, primarily due to the impact of the pandemic[30]. - The company anticipates a potential loss in cumulative net profit for 2020 compared to the previous year, primarily due to the impact of COVID-19 on cinema operations[32]. - The company reported a total profit of -¥61,253,751.95 for Q3 2020, significantly lower than the profit of ¥115,008,626.84 in Q3 2019[55]. - The net profit for Q3 2020 was a loss of approximately ¥58.94 million, compared to a profit of ¥82.11 million in Q3 2019[63]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,109,789,395.61, a decrease of 9.87% compared to the end of the previous year[18]. - Total liabilities increased from CNY 1,063,049,584.70 to CNY 1,198,999,048.05, representing a rise of approximately 12.8%[43]. - Current liabilities increased from CNY 841,726,136.55 to CNY 973,992,293.56, representing a rise of about 15.7%[41]. - Total equity decreased from CNY 2,387,279,005.63 to CNY 1,910,790,347.56, a decline of about 20%[43]. - The company’s financial assets decreased by 67.39% to RMB 300 million from RMB 920 million, mainly due to a reduction in financial products[30]. - The total amount of other payables was approximately $465.68 million, which includes interest payable[86]. Cash Flow - The net cash flow from operating activities was CNY 630,096.03, a significant drop of 99.87% compared to CNY 487,077,974.45 in the previous year[18]. - The company reported a cash inflow from operating activities of approximately ¥652.70 million for the first three quarters of 2020, down from ¥2.41 billion in the same period of 2019[65]. - The total cash inflow from operating activities was 608,810,027.18 RMB, down from 2,223,875,110.62 RMB in the same period last year[70]. - The cash outflow for purchasing goods and services was 304,452,628.28 RMB, compared to 1,212,314,144.71 RMB in the previous year[70]. - The net cash flow from investment activities was 547,569,803.78 RMB, recovering from a negative cash flow of -93,103,142.53 RMB in the previous year[70]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,832[24]. - The largest shareholder, Hengdian Group Holding Co., Ltd., held 80.35% of the shares[24]. - Basic and diluted earnings per share were both CNY -0.58, a decrease of 241.46% from CNY 0.41 in the previous year[18]. Government Support - Government subsidies recognized in the current period amounted to CNY 25,484,122.71, contributing to the overall financial performance[21]. - The company received government subsidies amounting to RMB 62.53 million, an increase of 121.58% compared to the previous year, contributing to its operating income[32]. Market Performance - The total box office for the Chinese film market in the first three quarters of 2020 was RMB 7.563 billion, a decrease of 84.20% year-on-year, with total attendance down 82.20% to 228 million[28]. - As of September 30, 2020, the company opened 16 new direct-operated cinemas and added 102 screens, achieving box office revenue of RMB 238.24 million, with a market share of 4.32% and 7.46 million viewers[30]. - For the first nine months of 2020, the company operated 369 direct-operated cinemas with 2,326 screens, generating cumulative box office revenue of RMB 301.67 million, a market share of 3.99%, and 9.70 million viewers[30]. Operational Costs - Total operating costs for Q3 2020 were ¥388,494,068.07, down 39.9% from ¥645,471,655.44 in Q3 2019[52]. - The gross profit margin for Q3 2020 was negative, with operating costs amounting to ¥275.19 million against revenues of ¥253.76 million[60]. Other Financial Metrics - The weighted average return on equity decreased by 28.39 percentage points to -16.98%[18]. - Non-recurring gains and losses totaled CNY 20,367,084.69 for the current period[24]. - Research and development expenses were not specified in the report, indicating a potential area for future focus[52].