Tongda Electric(SH:603390)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months fell by 26.49% to CNY 380,858,483.17 year-on-year[6] - Net profit attributable to shareholders decreased by 76.93% to CNY 23,978,769.55 for the first nine months[6] - Basic and diluted earnings per share decreased by 82.05% to CNY 0.07[6] - The total profit for the first three quarters of 2020 was CNY 30,669,469.75, a decrease from CNY 119,484,272.75 in the first three quarters of 2019, representing a decline of about 74.5%[27] - The net profit for the first three quarters of 2020 was approximately ¥12.82 million, compared to ¥13.47 million in the same period of 2019, indicating a decrease of about 4.8%[26] - The total profit for the first three quarters of 2020 was CNY 20,220,481.41, down from CNY 119,484,272.75 in the first three quarters of 2019, indicating a decline of approximately 83.1%[27] - The net profit for Q3 2020 was CNY 10,722,012.35, down 56% from CNY 24,389,530.62 in Q3 2019[31] - The total comprehensive income for Q3 2020 was CNY 7,446,098.55, compared to CNY 24,913,692.61 in Q3 2019, a decrease of approximately 70.1%[28] Cash Flow and Liquidity - Cash flow from operating activities showed a significant decline of 261.71%, resulting in a net outflow of CNY 124,368,276.33[6] - The cash flow from operating activities for the first three quarters of 2020 was negative at CNY -124,368,276.33, compared to a positive CNY 76,910,571.26 in the first three quarters of 2019[35] - The company reported a significant decrease in sales revenue, with cash received from sales dropping to CNY 315,515,455.84 in the first three quarters of 2020 from CNY 594,473,330.97 in the same period of 2019[35] - The total cash outflow for operating activities was ¥458,624,263.95, compared to ¥547,823,729.75 in the previous year[38] - The company's cash and cash equivalents at the end of the reporting period were ¥81,747,918.26, down from ¥112,655,351.08 at the end of the previous year[39] Assets and Liabilities - Total assets decreased by 3.58% to CNY 2,064,433,682.74 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 43.48% to CNY 117,465,608.43 compared to the end of the previous year[10] - Total current assets decreased from ¥1,673,303,746.87 to ¥1,402,795,066.28, reflecting a decline in cash and cash equivalents[1] - Total liabilities decreased to approximately ¥263.74 million from ¥293.60 million, indicating a reduction of about 10.1%[22] - The company's total equity as of September 30, 2020, was CNY 1,738,227,491.86, down from CNY 1,754,414,450.48[19] Expenses and Costs - Management expenses increased by 70.86% to ¥32,007,767.43 compared to the previous year[1] - R&D expenses rose by 40.20% to ¥49,039,665.00, driven by ongoing technology innovation and product optimization efforts[1] - The total operating costs for the first three quarters of 2020 were CNY 274,264,633.77, down from CNY 340,600,889.52 in the same period of 2019[31] - Research and development expenses for Q3 2020 were approximately ¥17.19 million, an increase of 36.6% compared to ¥12.58 million in Q3 2019[26] Strategic Outlook - The company expects significant changes in cumulative net profit compared to the previous year due to the impact of COVID-19 on the bus industry[3] - The company anticipates a recovery in bus market demand as pandemic control measures improve[3] - The company plans to focus on market expansion and new product development in the upcoming quarters[25] - The company has indicated a strategic shift towards enhancing operational efficiency and reducing costs in response to market conditions[25]