Ellington(SH:603328)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 196,986,729.38, down 55.38% year-on-year[17] - Operating revenue for the first nine months was CNY 1,788,845,941.84, a decrease of 20.96% compared to the same period last year[17] - Basic earnings per share for the third quarter were CNY 0.20, a decrease of 54.55% compared to the previous year[17] - Total operating revenue for Q3 2020 was ¥695,471,539.05, a decrease of 14.7% compared to ¥815,771,327.10 in Q3 2019[51] - Net profit for Q3 2020 was ¥73,874,149.74, a decline of 57.8% from ¥175,015,978.70 in Q3 2019[55] - The total profit for Q3 2020 was ¥88,111,012.65, down from ¥207,611,128.47 in Q3 2019, indicating a significant drop in profitability[55] - The company reported a total profit of approximately ¥69.01 million for the third quarter, a decrease of 63.7% from ¥189.89 million in the same quarter last year[63] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 386,136,553.90, down 34.20% year-on-year[17] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 2,025,658,281.88, a decrease of 26.6% compared to CNY 2,757,302,547.13 in the same period of 2019[71] - Net cash flow from operating activities was CNY 350,479,888.94, down 52.2% from CNY 732,945,984.85 year-on-year[71] - Cash inflow from investment activities totaled CNY 1,462,565,896.48, compared to CNY 1,776,398,398.11 in the previous year, reflecting a decrease of 16.4%[74] - Investment activities generated a net cash flow of approximately ¥252.11 million, down 56.9% from ¥584.11 million year-over-year[69] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,280,595,257.05, a decrease of 2.58% compared to the end of the previous year[17] - The company's total liabilities increased by 5.56% to ¥2.12 billion, with accounts payable rising significantly by 18.57%[37] - Total current liabilities increased to ¥849,993,894.35 from ¥811,265,048.63, reflecting a growth of approximately 4.5%[42] - Total assets decreased to ¥3,996,651,011.33 from ¥4,177,490,238.44, representing a decline of approximately 4.3%[49] - Total liabilities amounted to ¥827,733,889.75, with current liabilities at ¥811,265,048.63[80] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 12,499,778.22 for the first nine months, which are closely related to its normal business operations[21] - The company received CNY 1,450,000,000.00 from investment recoveries, down from CNY 1,750,000,000.00 in the previous year[71] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,094, with the largest shareholder holding 63.41% of the shares[22] Cost Management and Efficiency - The company is focusing on improving operational efficiency and cost management in response to declining revenues and profits[51] - Total operating costs for Q3 2020 were ¥604,163,380.63, slightly down from ¥606,250,426.20 in Q3 2019, indicating a cost management strategy[51] - Research and development expenses for Q3 2020 were ¥24,517,133.63, a decrease of 12.4% compared to ¥27,863,970.22 in Q3 2019, reflecting a focus on cost efficiency[51] Foreign Exchange and Financial Losses - The company experienced a foreign exchange loss of CNY 32,871,100 in the third quarter, with cumulative losses of CNY 20,970,300 for the first nine months, an increase of 168.95% year-on-year[20] - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to high overseas sales exposure and potential exchange rate losses[32] Accounting Standards and Compliance - The company executed the new revenue recognition standards starting January 1, 2020, impacting the financial statements[83] - The company implemented the revised Accounting Standards for Revenue starting January 1, 2020, affecting the cumulative impact on retained earnings and related financial statement items[90] - The company has not made any retrospective adjustments to prior period data as a result of the new standards[90] - The company has confirmed that the new revenue standards do not require adjustments to prior financial statements[90] - The company is in compliance with the Ministry of Finance's regulations regarding the new accounting standards[90]