晶华新材(603683) - 2021 Q3 - 季度财报

Revenue and Profitability - Revenue for Q3 2021 reached ¥370,142,362.80, an increase of 25.00% year-over-year, while year-to-date revenue was ¥1,018,320,646.26, up 45.79% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 64.04% in Q3 2021 to ¥7,354,249.51, and year-to-date net profit was ¥31,187,943.48, down 8.53% year-over-year[5] - The net profit excluding non-recurring gains and losses fell by 69.25% in Q3 2021 to ¥6,532,792.50, with a year-to-date figure of ¥28,524,607.84, a decrease of 9.68% compared to the previous year[5] - Basic earnings per share for Q3 2021 were ¥0.04, down 50.00% from the previous year, while diluted earnings per share were also ¥0.04, reflecting the same decline[6] - In Q3 2021, the company achieved a revenue of RMB 1.018 billion, representing a year-on-year growth of 45.79%[15] - The net profit attributable to shareholders was RMB 31.19 million, a decrease of 8.53% year-on-year, primarily due to stock incentive costs and rising raw material prices[15] Cash Flow and Financial Position - Operating cash flow for the year-to-date period increased significantly by 227.92% to ¥25,885,510.92, attributed to higher sales collections[6] - The company's cash and cash equivalents as of September 30, 2021, were RMB 172.63 million, down from RMB 247.74 million at the end of 2020[18] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 988,533,067.71, a significant increase of approximately 50.1% compared to CNY 658,507,004.10 in the same period of 2020[26] - The net cash flow from operating activities for the third quarter of 2021 was CNY 25,885,510.92, compared to CNY 7,893,909.16 in the third quarter of 2020, representing an increase of approximately 228.5%[27] - The cash and cash equivalents at the end of the third quarter of 2021 totaled CNY 163,662,198.72, slightly up from CNY 159,210,292.03 at the end of the same quarter in 2020[28] Assets and Liabilities - Total assets as of the end of the reporting period were ¥1,735,543,852.17, representing a 5.13% increase from the end of the previous year[6] - Total operating costs for the first three quarters of 2021 were ¥980,616,045.01, compared to ¥669,045,018.01 in the previous year, indicating an increase of about 46.5%[22] - The total liabilities as of the end of the third quarter of 2021 were ¥742,935,182.27, compared to ¥688,891,766.61 in the previous year, showing an increase of about 7.9%[20] - Short-term borrowings increased to ¥284,162,695.03 from ¥221,177,004.02, reflecting a rise of about 28.5%[20] - The company’s long-term borrowings decreased to ¥160,000,000.00 from ¥170,000,000.00, indicating a reduction of approximately 5.9%[20] Operational Challenges and Strategies - The decline in net profit was mainly due to rising raw material costs and increased expenses related to stock incentive plans[10] - The company is facing risks from raw material price fluctuations, which could adversely affect profitability if costs cannot be passed on to customers[15][16] - The "dual control" policy implemented by local governments may lead to production limitations, impacting the company's operational efficiency and costs[16] - The company has implemented measures to enhance operational efficiency, including cost reduction and product structure improvement[15] - The company is focused on market expansion and improving production efficiency to mitigate the impact of rising costs and maintain profitability[15] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to ¥39,518,674.17, compared to ¥26,127,456.08 in the previous year, reflecting a growth of approximately 51.5%[22] Other Financial Metrics - The company reported a decrease in other comprehensive income after tax, amounting to -¥613,393.15 compared to -¥1,458,709.76 in the previous year[23] - Total comprehensive income for the third quarter of 2021 was CNY 31,205,997.26, compared to CNY 29,989,361.13 in the same period of 2020, reflecting an increase of approximately 4.1%[24] - Basic and diluted earnings per share for the third quarter of 2021 were both CNY 0.17, down from CNY 0.19 in the third quarter of 2020, indicating a decrease of about 10.5%[24]