Hexing(SH:603556)2021-10-29 16:00Financial Performance - Q3 2021 revenue was CNY 690,485,700.66, a decrease of 2.34% year-over-year[2] - Net profit attributable to shareholders was CNY 22,845,309.28, down 84.79% compared to the same period last year[2] - Net profit excluding non-recurring gains and losses was CNY 13,233,120.05, a decline of 94.90% year-over-year[2] - Basic and diluted earnings per share were both CNY 0.04, down 86.67% year-over-year[3] - Total operating revenue for the first three quarters of 2021 was CNY 1,783,370,519.11, a decrease of 10.05% compared to CNY 1,982,803,995.29 in the same period of 2020[15] - Net profit for the third quarter of 2021 was CNY 176,055,025.69, down 54.4% from CNY 386,529,435.47 in the same quarter of 2020[16] - Earnings per share for the third quarter of 2021 were CNY 0.36, compared to CNY 0.79 in the same quarter of 2020[17] - The company reported a total comprehensive income of CNY 170,311,931.56 for the third quarter of 2021, compared to CNY 349,640,737.82 in the same quarter of 2020[17] Cash Flow and Assets - Cash flow from operating activities was negative CNY 37,418,537.97, representing a decrease of 108.82% compared to the previous year[3] - Cash inflow from operating activities totaled CNY 2,310,236,222.87, a decrease of 5.9% compared to CNY 2,456,037,824.42 in the same period last year[19] - Net cash flow from operating activities was negative CNY 37,418,537.97, contrasting with a positive CNY 424,085,986.87 in the previous year[19] - Cash inflow from investment activities was CNY 3,318,970,321.52, down 38.6% from CNY 5,395,495,734.74 year-on-year[19] - Net cash flow from investment activities was negative CNY 408,406,579.72, compared to a positive CNY 311,407,448.92 in the same period last year[19] - Cash inflow from financing activities was CNY 471,110,878.77, significantly higher than CNY 181,360,533.00 in the previous year[20] - Net cash flow from financing activities was negative CNY 170,856,482.37, slightly improved from negative CNY 186,909,704.04 year-on-year[20] - The ending balance of cash and cash equivalents was CNY 1,637,387,533.78, an increase from CNY 1,023,051,415.57 in the previous year[20] - Cash outflow for purchasing goods and services was CNY 1,522,744,228.61, up 23.7% from CNY 1,230,518,758.19 in the same period last year[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,991,088,742.45, a decrease of 1.10% from the end of the previous year[3] - Current assets totaled CNY 5,895,339,857.55, down from CNY 6,051,790,307.08 in the previous year[13] - Cash and cash equivalents were CNY 2,478,883,682.10, compared to CNY 3,342,561,975.70 at the end of 2020, reflecting a decrease of approximately 26%[11] - Accounts receivable decreased to CNY 773,984,988.54 from CNY 994,843,152.69, indicating a reduction of about 22%[11] - Inventory increased significantly to CNY 771,173,166.03 from CNY 396,050,013.69, representing an increase of approximately 95%[13] - Total liabilities as of the end of the third quarter of 2021 amounted to CNY 1,668,541,725.19, slightly down from CNY 1,675,142,468.34 at the end of 2020[14] - Total liabilities were not explicitly stated but can be inferred from the balance sheet, indicating a need for further analysis on debt levels[11] Shareholder Information - The total number of common shareholders at the end of the reporting period was 24,604[8] - The company’s major shareholder, Zhejiang Haixing Holding Group Co., Ltd., holds 49.05% of the shares, indicating strong control over the company[10] - Total equity attributable to shareholders was CNY 5,315,929,498.87, a decrease from CNY 5,385,146,907.59 in the previous year[14] - Shareholders' equity attributable to the parent company was CNY 5,315,929,498.87, down 1.29% from the previous year[3] Operational Insights - The decline in net profit was primarily due to the appreciation of the RMB and the depreciation of the Brazilian real and Indonesian rupiah, along with increased costs from project delays and rising material and logistics expenses[7] - The company has not reported any significant new product launches or technological advancements in this quarter[10] - Future outlook remains cautious with a focus on improving cash flow and managing inventory levels effectively[10] - Research and development expenses for the first three quarters of 2021 were CNY 176,274,517.60, an increase from CNY 165,903,000.71 in the same period of 2020[15]