Beijing Cuiwei Tower (SH:603123)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was approximately CNY 832.23 million, a decrease of 23.69% compared to the same period last year[6]. - The net profit attributable to shareholders was approximately CNY 18.93 million, down 21.14% year-on-year[6]. - The basic earnings per share for the period was CNY 0.024, reflecting a 40% decrease compared to the previous year[6]. - The weighted average return on equity was 0.49%, a decrease of 0.20 percentage points from the same period last year[6]. - Total operating revenue for the first three quarters of 2021 was CNY 2,570,350,016.58, a decrease of 13.7% compared to CNY 2,979,533,179.21 in the same period of 2020[23]. - Total operating costs for the first three quarters of 2021 were CNY 2,514,016,593.06, down from CNY 2,968,271,436.68 in 2020, reflecting a cost reduction of approximately 15.3%[23]. - Net profit for the third quarter of 2021 was CNY 113,435,129.12, an increase of 14.2% compared to CNY 99,341,777.35 in the same quarter of 2020[24]. - The total comprehensive income for the third quarter of 2021 was CNY 113,490,925.70, compared to CNY 99,312,713.53 in the same quarter of 2020, reflecting an increase of about 14.3%[24]. - The total comprehensive income attributable to the parent company for Q3 2021 was CNY 113,054,140.78, compared to CNY 13,387,288.53 in Q3 2020, indicating significant growth[25]. - Basic and diluted earnings per share for Q3 2021 were both CNY 0.142, up from CNY 0.022 in the same period last year[25]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 7.08 billion, an increase of 0.71% compared to the end of the previous year[6]. - Total assets as of September 30, 2021, were CNY 7,076,609,102.45, slightly up from CNY 7,026,856,227.82 at the end of 2020[19]. - The company's total liabilities decreased to CNY 3,204,232,745.19 in Q3 2021 from CNY 3,435,075,313.64 in Q3 2020, representing a reduction of approximately 6.7%[21]. - The equity attributable to shareholders of the parent company increased to CNY 3,848,564,077.20 in Q3 2021 from CNY 3,568,144,585.81 in Q3 2020, marking an increase of about 7.8%[21]. - Total liabilities decreased to CNY 3,435,075,313.64 from CNY 4,315,373,855.70, a reduction of CNY 880,298,542.06[33]. - Owner's equity increased to CNY 3,591,780,914.18 from CNY 3,465,475,205.87, an increase of CNY 126,305,708.31[33]. - The company reported a decrease in short-term borrowings, remaining at CNY 606,351,388.87[31]. Cash Flow - The net cash flow from operating activities for the year-to-date was negative CNY 59.08 million, indicating a cash outflow[6]. - Net cash flow from operating activities for the first three quarters of 2021 was CNY -59,081,631.29, an improvement from CNY -156,230,680.00 in the previous year[28]. - Cash inflow from operating activities totaled CNY 5,540,232,014.46, slightly up from CNY 5,459,141,996.66 in the same period of 2020[26]. - Cash outflow from operating activities was CNY 5,599,313,645.75, compared to CNY 5,615,372,676.66 in the previous year[28]. - Cash inflow from investment activities was CNY 766,519,229.15, significantly higher than CNY 403,047,029.35 in the same period last year[28]. - Cash outflow from investment activities totaled CNY 845,753,575.74, compared to CNY 456,571,111.62 in the previous year[28]. - Cash inflow from financing activities was CNY 1,259,844,798.36, up from CNY 602,000,000.00 in the same period of 2020[28]. - The net cash flow from financing activities was CNY -226,870,729.28, a decline from CNY 102,008,934.37 in the previous year[28]. - The ending balance of cash and cash equivalents was CNY 1,497,195,167.00, down from CNY 1,862,685,797.09 at the end of the previous year[28]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 14,149[14]. - The largest shareholder, Beijing Cuiwei Group, holds 31.51% of shares, totaling 251,715,934 shares[14]. Research and Development - Research and development expenses for the first three quarters of 2021 were CNY 63,324,037.81, up from CNY 55,409,101.58 in 2020, indicating an increase of approximately 14.4%[23]. Strategic Initiatives - The acquisition of 98.2975% of Beijing Haike Rongtong Payment Service Co., Ltd. was completed in December 2020, impacting the financial statements[8]. - The company plans to continue focusing on market expansion and new product development following the acquisition[8]. - The company plans to continue focusing on market expansion and new product development to drive future growth[21]. Other Financial Metrics - Non-recurring gains and losses for the period included CNY 1.09 million from government subsidies and CNY 2.61 million from fair value changes[10]. - The company reported a financial expense of CNY 54,163,936.45 in the first three quarters of 2021, significantly higher than CNY 16,170,018.96 in the same period of 2020[23]. - Cash and cash equivalents decreased to CNY 1,996,517,396.85 from CNY 2,338,882,595.63 year-over-year[17]. - Accounts receivable increased to CNY 107,788,373.66 from CNY 89,725,972.45 year-over-year[19]. - Inventory decreased to CNY 251,159,178.48 from CNY 288,062,735.36 year-over-year[19]. - The company is undergoing store renovations, with Cuiwei Store A expected to reopen in phases starting November 6, 2021[16]. - The company has implemented new leasing standards since January 1, 2021, affecting retained earnings and related financial statement items[33].