First(SH:603806)2020-10-25 16:00Financial Performance - Net profit attributable to shareholders rose by 47.06% year-on-year, amounting to RMB 871,292,448.70[5] - Operating revenue for the first nine months increased by 19.14% year-on-year, totaling RMB 5,469,318,233.07[5] - Basic earnings per share rose by 41.98% year-on-year, reaching RMB 1.15[5] - The company experienced a significant increase in net profit after deducting non-recurring gains and losses, which rose by 71.96% year-on-year to RMB 847,587,143.36[5] - Total operating revenue for Q3 2020 reached ¥2,093,091,578.01, a 29.8% increase from ¥1,612,066,686.97 in Q3 2019[22] - Net profit for Q3 2020 was ¥415,784,405.59, compared to ¥193,649,905.06 in Q3 2019, representing a 115.5% increase[23] - The company reported a total profit of ¥482,378,800.58 for Q3 2020, compared to ¥226,686,929.63 in Q3 2019, reflecting a 112.5% increase[23] - The total comprehensive income attributable to the parent company for Q3 2020 was ¥383,456,639.72, up from ¥209,740,781.88 in Q3 2019, a 82.8% increase[26] Assets and Liabilities - Total assets increased by 8.82% year-on-year, reaching RMB 9,037,870,788.40[5] - Non-current assets totaled ¥2,027,119,070.12, compared to ¥1,560,483,642.95, marking an increase of about 29.9%[15] - Current liabilities rose to ¥1,026,077,193.27 from ¥861,532,609.15, reflecting a growth of approximately 19.1%[15] - Total liabilities decreased to ¥1,048,516,155.69 from ¥1,775,863,435.13, a reduction of about 41.0%[16] - Owner's equity increased to ¥7,989,354,632.71 from ¥6,529,243,506.49, showing a growth of approximately 22.3%[16] - The company reported a total of 385,063,580 shares held by its largest shareholder, accounting for 50.04% of total shares[7] - Accounts receivable increased by CNY 38.42 million, a growth of 28.17% due to an increase in commercial acceptance bills[9] - Financing receivables increased by CNY 336.35 million, a growth of 26.31% attributed to expanded sales scale[9] Cash Flow - Net cash flow from operating activities surged by 79.10% year-on-year, reaching RMB 314,285,028.12[5] - Net cash flow from operating activities increased by CNY 138.80 million compared to the same period last year, primarily due to higher cash received from sales of goods and services[10] - Cash flow from operating activities for the first three quarters of 2020 was ¥4,182,743,401.78, compared to ¥3,807,351,674.17 in the same period of 2019, indicating a 9.8% increase[31] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 176,619,698.17, slightly down from CNY 178,244,835.92 in the previous year[34] - The total cash inflow from operating activities for the first three quarters of 2020 was CNY 3,513,608,084.74, compared to CNY 3,101,830,835.19 in the same period of 2019, marking an increase of 13.3%[34] Research and Development - R&D expenses increased by CNY 37.19 million, a growth of 24.38% due to increased R&D investment[10] - R&D expenses for Q3 2020 amounted to ¥73,472,942.05, a significant rise from ¥52,825,773.76 in Q3 2019, indicating a 39.1% increase[22] - Research and development expenses for Q3 2020 were ¥63,102,538.52, up 50.8% from ¥41,840,880.08 in Q3 2019[27] Future Plans - The company plans to raise CNY 1.7 billion through a public offering of convertible bonds to fund a new photovoltaic film project with an annual production capacity of 500 million square meters[11] - The company plans to expand its market presence and invest further in new technologies and product development to sustain growth in the upcoming quarters[67]