TAM(SH:603789)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥118,914,322.01, representing a year-on-year increase of 42.17%[6] - The net profit attributable to shareholders was a loss of ¥27,084,774.92, with a year-to-date loss of ¥72,456,899.36[6] - The basic and diluted earnings per share for the quarter were both -¥0.1042, compared to -¥0.2787 for the same period last year[7] - Total revenue for the first three quarters of 2021 reached CNY 398,125,555, a significant increase from CNY 221,511,163 in the same period of 2020, representing an increase of approximately 79.9%[23] - The company's net loss for the first three quarters of 2021 was CNY -131,754,839, compared to a loss of CNY -88,199,932 in the same period of 2020, reflecting a worsening of approximately 49.3%[21] - The net profit for Q3 2021 was -68,445,751.88 RMB, compared to -85,088,206.07 RMB in Q3 2020, showing an improvement of approximately 19.6% year-over-year[24] - Operating profit for Q3 2021 was -72,281,005.38 RMB, an improvement from -93,537,226.78 RMB in the same quarter last year, indicating a reduction in losses[24] - Total comprehensive income for Q3 2021 was -68,445,751.88 RMB, compared to -85,088,206.07 RMB in Q3 2020, indicating a year-over-year improvement[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,436,691,465.28, an increase of 2.54% from the end of the previous year[7] - Current assets totaled CNY 879,566,708 as of September 30, 2021, compared to CNY 820,008,629 at the end of 2020, marking an increase of about 7.2%[20] - The company's total assets amounted to CNY 1,436,691,465.28 as of September 30, 2021, compared to CNY 1,401,112,773.67 at the end of 2020, showing a growth of approximately 2.5%[22] - The total liabilities increased to CNY 649,761,243.85 from CNY 524,831,501.85, representing an increase of about 23.8%[21] - Total current liabilities were 453,828,919.28, with accounts payable at 88,334,793.80[31] - Total liabilities amounted to 524,831,501.85, showing an increase of 10,725,984.32[31] Cash Flow - The cash flow from operating activities for the year-to-date was ¥32,460,945.24, reflecting improved collection of sales payments compared to the previous year[6] - Cash flow from operating activities for the first nine months of 2021 was 32,460,945.24 RMB, a significant recovery from -71,378,556.54 RMB in the same period of 2020[27] - The company reported a net cash outflow from investing activities of -16,409,730.03 RMB for the first nine months of 2021, compared to -53,886,870.00 RMB in the same period of 2020, indicating a reduction in cash outflow[27] - Cash and cash equivalents at the end of Q3 2021 stood at 40,498,143.23 RMB, compared to 19,759,651.64 RMB at the end of Q3 2020, reflecting an increase of approximately 104.1%[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,528[12] - The largest shareholder, Huzhou New Home Investment Management Co., Ltd., holds 46,738,250 shares, accounting for 17.98% of total shares[12] - Zhejiang Green Pulse Yicheng Technology Development Co., Ltd. holds 39,000,000 shares, representing 15.00% of total shares[12] Investments and Expenses - Long-term equity investments increased by 98.48% year-to-date, mainly due to the exclusion of a former subsidiary from the consolidated financial statements[10] - Research and development expenses for the first three quarters of 2021 were CNY 19,870,382.75, compared to CNY 16,409,840.45 in 2020, indicating an increase of about 21.0%[23] - The company reported a significant increase in sales expenses, up 76.94% year-to-date, primarily due to market expansion and after-sales service costs[10] Legal Matters - The company is involved in multiple patent infringement lawsuits, seeking damages of RMB 203.5 million and RMB 135.66 million in two separate cases against Wode Agricultural Machinery[16] Future Plans - The company approved a capital increase of RMB 75 million for its subsidiary, Star Agricultural Development Co., Ltd., which will hold 46.80% of the subsidiary after the increase[14] - The company plans to increase the expected total amount of daily related transactions with Star Agricultural to RMB 200 million for 2021[15] - Zhejiang Green Pulse plans to increase its stake in the company with an investment of no less than RMB 50 million and no more than RMB 100 million within six months starting from September 29, 2021[17] - The company is focusing on market expansion and new product development strategies to enhance future growth[32]