Champion Asia(SH:603386)2019-10-28 16:00Financial Performance - Operating revenue for the first nine months rose by 13.43% to CNY 951,654,264.35 compared to the same period last year[7]. - Net profit attributable to shareholders decreased by 68.52% to CNY 19,998,364.98 compared to the same period last year[7]. - Basic earnings per share decreased by 67.74% to CNY 0.10 compared to the same period last year[7]. - The weighted average return on equity decreased by 6.76 percentage points to 3.05% compared to the same period last year[7]. - The company reported a total operating revenue of ¥951,654,264.35 for the first three quarters of 2019, a 13.4% increase from ¥838,960,819.22 in the same period of 2018[35]. - Net profit for Q3 2019 was ¥8,685,751.78, compared to ¥23,091,519.81 in Q3 2018, reflecting a decrease of 62.3%[36]. - Total profit for Q3 2019 was ¥6,319,239.55, compared to ¥23,973,167.32 in Q3 2018, a decline of 73.7%[36]. - Total comprehensive income for Q3 2019 was ¥9,337,240.32, compared to ¥23,407,343.10 in Q3 2018, a decrease of 60.1%[38]. Assets and Liabilities - Total assets increased by 68.00% to CNY 2,526,919,364.42 compared to the end of the previous year[7]. - Net assets attributable to shareholders increased by 53.28% to CNY 1,003,976,913.68 compared to the end of the previous year[7]. - Cash and cash equivalents increased by 65.55% to ¥112,897,124.72 due to increased bank credit limits and higher deposits[13]. - Accounts receivable rose by 75.83% to ¥387,869,324.76, primarily due to increased revenue during the reporting period[13]. - Inventory increased by 35.44% to ¥294,327,499.19, attributed to the acquisition of Changsha Mutai and Shenzhen Mutai[13]. - Long-term borrowings skyrocketed by 1018.85% to ¥112,029,728.66, reflecting new long-term loans taken during the reporting period[14]. - Total liabilities reached ¥1,521,612,190.63, up from ¥849,162,543.84, marking a growth of around 79%[28]. - Current liabilities rose to ¥1,283,895,203.58 from ¥834,854,080.32, reflecting an increase of approximately 54%[28]. Cash Flow - Net cash flow from operating activities decreased by 93.89% to CNY 4,718,137.47 compared to the same period last year[7]. - Cash flow from operating activities decreased by 93.89% to CNY 4,718,137.47 compared to CNY 77,239,032.99 in the same period last year, primarily due to an increase in accounts receivable[22]. - The company reported a net cash outflow from investing activities of approximately ¥266.90 million for the first three quarters of 2019, compared to a net outflow of ¥114.15 million in the same period of 2018[43]. - Total financing cash inflow for the first three quarters of 2019 was approximately ¥720.62 million, significantly higher than ¥340.08 million in the same period of 2018[43]. - The financing activities generated a net cash inflow of ¥240,933,073.44 in Q3 2019, a turnaround from a net outflow of ¥9,742,814.92 in the previous year[45]. Shareholder Information - The total number of shareholders reached 19,866 as of the report date[11]. - The largest shareholder, Junya Enterprise Co., Ltd., holds 64.13% of the shares, totaling 145,125,000 shares[11]. - Shareholders' equity increased to ¥1,005,307,173.79, compared to ¥654,991,544.76, which is an increase of about 53%[28]. Acquisitions and Investments - The company completed the acquisition of Shenzhen Mutai and Changsha Mutai, resulting in significant increases in goodwill and intangible assets[14]. - The company completed the acquisition of 100% equity in Shenzhen Mutaile and Changsha Mutaile, with the transaction approved by the China Securities Regulatory Commission on June 27, 2019[19]. - Other payables surged by 2125.00% to ¥103,748,962.16, primarily due to cash consideration for the acquisitions and employee stock incentive obligations[14]. Expenses - Management expenses rose by 47.40% to ¥58,563,817.55, due to increased personnel costs and related fees[15]. - Research and development expenses for Q3 2019 totaled ¥22,594,697.98, an increase from ¥15,430,718.99 in Q3 2018[35]. - The company incurred interest expenses of approximately ¥6.48 million in the first three quarters of 2019, compared to ¥4.12 million in the same period of 2018, indicating increased borrowing costs[39]. Compliance and Standards - The company adopted new financial instrument standards effective January 1, 2019, with no reclassification adjustments for financial assets[49]. - The company remains committed to adhering to new accounting standards to ensure accurate financial reporting[49].