Guirenniao(SH:603555)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months was CNY 846,962,061.72, a decrease of 27.57% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 259,051,782.03, compared to a loss of CNY 166,079,653.54 in the same period last year[5] - The total profit for the first three quarters of 2020 was -256,996,929.76, compared to -166,592,090.88 in the same period of 2019, reflecting a 54.3% increase in losses[37] - The net profit for Q3 2020 was a loss of CNY 16,948.98, compared to a profit of CNY 903,592.41 in Q3 2019[36] - The company's total profit for the first three quarters of 2020 was -248,642,003.41, compared to -151,095,907.53 in the same period of 2019, reflecting a 64.5% increase in losses[37] Assets and Liabilities - Total assets decreased by 7.36% to CNY 3,640,923,903.04 compared to the end of the previous year[5] - The company's total liabilities increased by 80,922,050.71 yuan, or 58.75%, mainly due to increased interest payables[11] - Total liabilities as of September 30, 2020, were approximately ¥3.40 billion, compared to ¥3.43 billion at the end of 2019[27] - The total equity decreased to CNY 481,270,195.06 from CNY 821,076,908.37 year-over-year[32] - The company reported a net loss of approximately ¥1.51 billion in retained earnings as of September 30, 2020, compared to a loss of ¥1.25 billion at the end of 2019[27] Cash Flow - The net cash flow from operating activities improved to CNY -40,087,220.61 from CNY -312,919,266.42 year-on-year[5] - The company's cash inflow from operating activities for the first three quarters of 2020 was CNY 752,979,307.70, a decrease of 40.2% compared to CNY 1,263,087,456.97 in the same period of 2019[46] - Cash inflow from financing activities totaled CNY 120,298,017.00, significantly lower than CNY 971,670,000.00 in the previous year[47] - The net cash flow from financing activities was CNY 13,346,342.89, down 94.6% from CNY 247,235,778.63 year-over-year[47] - The total cash outflow for operating activities was CNY 793,066,528.31, down 49.7% from CNY 1,576,006,723.39 in the previous year[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,053[9] - The largest shareholder, Guiren Bird Group (Hong Kong) Limited, holds 66.2% of the shares, totaling 416,115,000 shares[9] Expenses - Sales expenses decreased by 96,163,991.99 yuan, a reduction of 45.50%, primarily due to lower salaries, benefits, and promotional costs[12] - Research and development expenses fell by 12,908,796.78 yuan, down 38.90%, indicating a reduction in investment during the reporting period[12] - Financial expenses increased by 34,319,641.09 yuan, a rise of 32.29%, attributed to penalty interest from debt defaults[12] - The company reported a significant decline in other income, which decreased by 32,129,652.37 yuan, or 91.39%, due to reduced government subsidies[12] Sales Performance - Online sales revenue for the first nine months of 2020 was approximately ¥253.27 million, accounting for 30.29% of total revenue, with a gross margin of 28.55%[22] - Offline sales revenue for the same period was approximately ¥582.97 million, representing 69.71% of total revenue, with a gross margin of 40.62%[22] - The gross profit margin for the brand "Guirenniao" was 40.24%, with a revenue of 602,958,000.62 yuan, reflecting a decrease of 27.76% compared to the previous year[14] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[10] - The company has not provided specific guidance for future performance or new product developments in the current report[43] - The company plans to continue focusing on online sales channels to mitigate the impact of the pandemic on physical store sales[21]