Tianyu Ecology(SH:603717)2020-10-15 16:00Financial Performance - Operating revenue for the first nine months was CNY 441,247,932.47, a decrease of 28.27% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 16,436,916.66, representing a decline of 141.05% compared to the same period last year[6] - The company reported a significant increase in minority interests by 166.07% to ¥107,095,515.71, due to the absorption of minority interests by subsidiaries[14] - Total operating revenue for Q3 2020 was approximately $213.44 million, an increase of 17.7% compared to $181.39 million in Q3 2019[28] - Net profit for Q3 2020 was approximately $2.17 million, a decrease of 64.0% compared to $6.05 million in Q3 2019[29] - The company reported a total comprehensive income of approximately $2.17 million for Q3 2020, down from $6.05 million in Q3 2019[30] Cash Flow - The net cash flow from operating activities improved to -CNY 124,199,273.44, a 55.87% increase compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2020 was negative at ¥124,199,273.44, an improvement from negative ¥281,450,766.93 in the same period of 2019[39] - The company reported a total cash inflow from financing activities of ¥601,874,733.72 in the first three quarters of 2020, down from ¥877,232,674.99 in the same period of 2019[39] - The net cash flow from financing activities decreased by 57.50% to ¥115,691,546.78, primarily due to cash received from bond issuance in the previous period[16] - The company’s cash flow management strategies are focused on improving operational cash flow while managing investment and financing activities effectively[43] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,490,703,140.71, an increase of 0.97% compared to the end of the previous year[6] - Total liabilities decreased to CNY 1,989,385,166.49 from CNY 2,006,211,230.24, a decline of approximately 0.8%[21] - Non-current assets totaled CNY 1,292,693,368.40, up from CNY 1,071,933,240.20, indicating a significant increase of about 20.6%[21] - Current liabilities decreased slightly to CNY 1,477,686,201.55 from CNY 1,495,692,341.62, a reduction of approximately 1.2%[21] - The company reported a total asset value of ¥2,915,694,769.52, with non-current assets at ¥968,061,871.18[52] Shareholder Information - The number of shareholders at the end of the reporting period was 17,297[10] - The top shareholder, Luo Weiguo, holds 63,547,309 shares, accounting for 26.28% of the total shares[10] - Shareholders' equity increased to CNY 1,501,317,974.22 from CNY 1,450,915,643.39, showing a growth of about 3.5%[21] Research and Development - Research and development expenses decreased by 48.37% to ¥9,583,134.96, mainly due to a reduction in project approvals[15] - Research and development expenses for Q3 2020 were approximately $3.53 million, a decrease of 51.4% from $7.25 million in Q3 2019[28] Accounting Standards and Adjustments - The company has implemented new revenue and leasing standards starting in 2020, which may impact future financial reporting and performance metrics[45] - The company executed new revenue recognition standards, adjusting various asset classifications, including moving PPP projects from inventory to other non-current assets[53] - The company adjusted its financial reporting to comply with new accounting standards, impacting the presentation of various financial items[53]