Qijing Machinery(SH:603677)2020-10-26 16:00Financial Performance - Net profit attributable to shareholders decreased by 8.55% to CNY 51,031,339.75 for the first nine months of the year[5] - Revenue for the first nine months decreased by 7.74% to CNY 1,074,512,073.09 compared to the same period last year[5] - Basic earnings per share decreased by 6.90% to CNY 0.27[5] - The weighted average return on equity decreased by 0.53 percentage points to 4.77%[5] - Total operating revenue for the first three quarters of 2020 was approximately $1.07 billion, down 7.73% from $1.16 billion in the same period of 2019[48] - The company reported a total comprehensive income of approximately $51.03 million for the first three quarters of 2020, down from $55.80 million in the same period of 2019[50] - Total profit for the first three quarters of 2020 was ¥57.80 million, a decrease of 15.00% compared to ¥68.02 million in the first three quarters of 2019[51] Cash Flow - Operating cash flow increased significantly by 416.10% to CNY 236,558,601.25 year-to-date[5] - The net cash flow from operating activities for the first three quarters of 2020 was ¥236.56 million, significantly higher than ¥45.84 million in the same period of 2019[54] - Total cash inflow from operating activities was CNY 966,724,813.03, down from CNY 1,093,197,731.67 in the previous year, indicating a decrease of about 11.6%[57] - Cash outflow from operating activities totaled CNY 732,160,485.58, compared to CNY 1,051,122,338.02 in the prior year, reflecting a reduction of approximately 30.3%[58] - Cash flow from financing activities resulted in a net outflow of CNY 123,449,600.47, improving from a net outflow of CNY 314,182,290.26 in the previous year[58] Assets and Liabilities - Total assets decreased by 4.53% to CNY 1,694,550,306.14 compared to the end of the previous year[5] - Total liabilities decreased to CNY 661,744,459.28 from CNY 700,953,292.45, a decline of about 5.6%[43] - Current liabilities decreased to CNY 369,462,211.09 from CNY 427,304,480.76, reflecting a reduction of approximately 13.5%[43] - The company’s retained earnings decreased to CNY 266,314,671.54 from CNY 307,505,118.27, reflecting a decline of approximately 13.4%[46] - The total liabilities and shareholders' equity amounted to CNY 1,694,550,306.14, consistent with total assets, confirming the balance sheet integrity[43] Shareholder Information - The total number of shareholders reached 5,903 by the end of the reporting period[9] - The largest shareholder, Ningbo Qijing Holding Co., Ltd., holds 52.03% of the shares[9] - The company distributed a cash dividend of RMB 2.8 per 10 shares for the 2019 fiscal year, totaling RMB 53,795,952.28 based on a total share count of 192,128,401 shares after deducting restricted shares[31] - For the 2020 interim profit distribution, the company approved a cash dividend of RMB 2.0 per 10 shares, resulting in a total cash dividend of RMB 38,425,834.20 based on 192,129,171 shares[32] Government Subsidies and Investments - The company received government subsidies amounting to CNY 3,229,864.12 in the third quarter[7] - The company invested ¥22,996 million in the annual production expansion project for automotive powertrain key components, with a cumulative investment of ¥21,655.97 million[15] - The company’s deferred income increased by 46.78% to ¥22,895,656.36, mainly due to new government subsidies received[11] Research and Development - Research and development expenses for Q3 2020 were approximately $10.36 million, a decrease of 22.06% from $13.29 million in Q3 2019[49] - Research and development expenses decreased to ¥10.09 million in Q3 2020, down 24.00% from ¥13.29 million in Q3 2019[51] Litigation and Financial Health - The company has fully provided for bad debts related to ongoing litigation, indicating no expected negative impact on future operating performance[38] - The company has no significant ongoing litigation or arbitration matters that could materially affect its financial condition or future prospects[38]