Thalys(SH:603716)2021-10-28 16:00Financial Performance - The company achieved operating revenue of RMB 628.19 million in Q3 2021, representing a year-on-year increase of 7.36%[5] - The net profit attributable to shareholders was a loss of RMB 2.41 million, a decline of 111.50% compared to the same period last year[5] - The company reported a total operating revenue of RMB 1.83 billion for the first three quarters of 2021, up 34.59% year-on-year[7] - The SPD business generated RMB 482 million in revenue, a significant increase of 120.22% year-on-year, accounting for 26% of total revenue[12] - The IVD business revenue was RMB 1.34 billion, reflecting an 18.12% year-on-year growth, but the gross margin decreased by 3.15% due to policy impacts[9] - Revenue for the year-to-date period increased by 34.59%, primarily driven by the gradual rollout of the SPD project, which generated revenue of 482 million CNY, a significant year-on-year growth of 120.22%[21] - IVD business achieved revenue of 1.344 billion CNY, representing a year-on-year increase of 18.12%[21] - Net profit attributable to shareholders decreased by 97.00% year-to-date, mainly due to a decline in gross margin, increased R&D investment, and rising financing costs[21] - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 104.19% year-to-date[21] - Basic and diluted earnings per share for the year-to-date period both decreased by 100.00%, attributed to the reduction in net profit[21] Research and Development - R&D expenses increased to RMB 25.84 million, a substantial rise of 270.58% year-on-year, reflecting the company's commitment to innovation[14] - Research and development expenses for the first three quarters of 2021 were ¥25,843,322.03, significantly higher than ¥6,973,726.69 in the same period of 2020, indicating a focus on innovation[37] Cash Flow and Assets - The company reported a cash flow from operating activities of RMB -198.10 million for the year-to-date period[6] - The total assets of the company reached RMB 4.13 billion, an increase of 5.66% from the end of the previous year[6] - As of September 30, 2021, the total current assets amounted to RMB 2,993,595,917.56, compared to RMB 2,928,180,427.26 at the end of 2020, reflecting an increase of approximately 2.24%[32] - The cash and cash equivalents decreased from RMB 661,752,739.80 at the end of 2020 to RMB 485,851,315.81, a decline of about 26.56%[32] - Accounts receivable stood at RMB 1,483,355,479.67, slightly down from RMB 1,514,619,042.21, indicating a decrease of approximately 2.05%[32] - Inventory increased from RMB 402,004,512.03 to RMB 547,401,779.13, representing a growth of around 36.2%[32] - The company reported a significant increase in other receivables, rising from RMB 191,731,932.03 to RMB 296,306,817.14, an increase of approximately 54.4%[32] - The company reported a decrease in cash and cash equivalents, with short-term borrowings at ¥584,806,356.94, down from ¥694,748,699.87 in the previous year[35] - The ending cash and cash equivalents balance for the third quarter of 2021 was CNY 481,432,715.81, a decrease from CNY 795,266,947.93 in the same period of 2020[43] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,631[24] - The largest shareholder, Saihai (Shanghai) Health Technology Co., Ltd., holds 37.18% of the shares, totaling 76,220,520 shares[24] Government Subsidies and Non-Operating Income - The company reported a government subsidy of 1.376 billion CNY for the current period, down from 6.296 billion CNY year-to-date[20] - Non-operating income and expenses for the current period amounted to -666,392.26 CNY, with a tax impact of 296,128.07 CNY[21] Corporate Governance - The company completed the election of the fourth board of directors and supervisory board, appointing new members including Mr. Wen Wei as the chairman[27] - The company has appointed Mr. Wang Zheng as the new general manager following the board restructuring[28] Stock Repurchase - The company plans to repurchase a total of 1,501,882 shares due to unmet performance targets in the 2019 restricted stock incentive plan[29] - The repurchase price for the first batch of restricted stocks is set at RMB 8.22 per share, plus interest from bank deposits[30] Financial Liabilities - Total liabilities rose to ¥2,324,847,563.06 in Q3 2021, up from ¥2,103,795,321.52 in Q3 2020, marking an increase of 10.5%[35] - Current liabilities reached CNY 1,388,178,679.65, including short-term borrowings of CNY 694,748,699.87 and accounts payable of CNY 400,135,722.13[46] - Total liabilities were CNY 2,103,795,321.52, with non-current liabilities at CNY 715,616,641.87[46] - The company’s long-term borrowings stand at CNY 254,246,969.72, indicating reliance on debt financing for growth[46]