RICHEN(SH:603755)2020-10-27 16:00Financial Performance - Operating revenue for the first nine months was CNY 184,200,582.00, a decrease of 8.68% year-on-year[5] - Net profit attributable to shareholders for the first nine months was CNY 59,498,093.86, an increase of 7.01% compared to the same period last year[5] - Basic earnings per share for the reporting period was CNY 0.60, down 16.67% from CNY 0.72 in the previous year[6] - Total operating revenue for Q3 2020 was CNY 77,044,457.62, a decrease of 2.03% compared to CNY 78,637,370.23 in Q3 2019[24] - Net profit for Q3 2020 reached CNY 23,588,086.34, an increase of 19.00% compared to CNY 19,774,413.47 in Q3 2019[25] - The total profit for the first three quarters of 2020 was CNY 70.17 million, an increase of 6.5% from CNY 65.94 million in the same period of 2019[28] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 637,486,195.44, an increase of 0.95% compared to the end of the previous year[5] - Total liabilities reached ¥50,264,043.39, compared to ¥49,520,991.50, representing an increase of about 1.5%[19] - Current assets totaled ¥581,319,735.31, compared to ¥581,070,045.90 at the end of 2019, indicating a marginal increase of 0.4%[18] - The company’s total liabilities and equity reached CNY 637,241,182.88, indicating a stable financial position[25] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 31,017,373.76, up 4.67% year-on-year[5] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 30,976,434.20, compared to CNY 29,647,640.15 in the same period of 2019, reflecting a slight increase[35] - The company experienced a net decrease in cash and cash equivalents of -CNY 90,937,140.61 during the third quarter[35] - Cash and cash equivalents decreased by 70.84% to ¥148,889,206.25 compared to the end of the previous year, primarily due to a reduction in structured deposits[13] Shareholder Information - The total number of shareholders at the end of the reporting period was 4,719[11] - The largest shareholder, Qingdao Boya Investment Co., Ltd., holds 56.24% of the shares, with 55,465,261 shares pledged[11] Research and Development - The company received government subsidies amounting to CNY 2,875,606.85 related to R&D investments[8] - Research and development expenses for the first three quarters of 2020 were CNY 6,934,685.62, a decrease from CNY 7,240,743.82 in the same period of 2019[24] Other Financial Metrics - The company reported a decrease in weighted average return on net assets to 10.02% from 23.67% in the previous year[6] - Other income rose by 127.58% to ¥1,275,606.85, mainly due to an increase in government subsidies received during the reporting period[14] - The company reported a decrease in employee compensation payable from ¥8,238,149.09 to ¥5,784,264.91, a reduction of about 29.5%[19] Changes in Accounting Standards - The company executed a new revenue standard, resulting in a 100% decrease in advance receipts, which were adjusted to contract liabilities[14] - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting[35] - There were no adjustments required for the new revenue and leasing standards as of the reporting date[44]