BYE(SH:603861)2019-10-28 16:00Financial Performance - Operating revenue decreased by 4.26% to CNY 1,717,169,810.44 for the period from January to September[7] - Net profit attributable to shareholders decreased by 52.61% to CNY 52,648,442.09 for the same period[7] - Basic earnings per share decreased by 53.02% to CNY 0.1189[8] - Diluted earnings per share decreased by 53.46% to CNY 0.1178[8] - Non-recurring profit and loss attributable to shareholders decreased by 86.89% to CNY 13,258,484.79[8] - The weighted average return on net assets decreased by 3.4931 percentage points to 2.2388%[8] - The net profit for Q3 2019 was 89,494,207.88, representing a significant increase compared to 38,148,437.19 in Q3 2018, which is a growth of approximately 134%[28] - The total profit for Q3 2019 reached 104,757,709.66, up from 44,781,990.82 in the same quarter last year, indicating an increase of about 134%[28] - The operating profit for Q3 2019 was 104,742,129.36, compared to 44,284,491.25 in Q3 2018, marking an increase of approximately 136%[28] - The earnings per share (EPS) for Q3 2019 were 0.1860, compared to 0.0796 in Q3 2018, reflecting an increase of about 134%[30] - The total comprehensive income attributable to the parent company for Q3 2019 was 84,039,056.14, compared to 35,239,224.43 in Q3 2018, representing an increase of about 138%[30] Assets and Liabilities - Total assets increased by 14.17% to CNY 5,942,258,956.72 compared to the end of the previous year[7] - Total assets as of September 30, 2019, amounted to CNY 4,903,049,562.66, an increase from CNY 4,258,115,933.16 at the end of 2018, representing a growth of about 15.2%[25] - Total liabilities as of September 30, 2019, were CNY 2,584,853,814.50, compared to CNY 1,985,169,269.59 at the end of 2018, indicating an increase of approximately 30.2%[25] - Cash and cash equivalents increased to CNY 256,939,997.75 from CNY 155,501,057.04 year-over-year, reflecting a growth of about 65.2%[24] - Inventory as of September 30, 2019, was CNY 960,760,270.30, up from CNY 737,188,386.31 at the end of 2018, representing an increase of approximately 30.3%[24] - Long-term borrowings stood at CNY 501,920,910.17, slightly up from CNY 481,235,304.52 in the previous year, indicating a growth of about 4.0%[25] - The company's capital reserve increased to CNY 555,855,715.53 from CNY 502,659,209.08, reflecting a growth of approximately 10.6%[26] Cash Flow - Cash flow from operating activities improved by 58.75%, reducing the negative cash flow to CNY -116,183,768.58[7] - Cash flow from operating activities for the first three quarters of 2019 was ¥1,682,978,602.66, an increase of 12.3% from ¥1,498,304,471.54 in the same period of 2018[36] - The net cash flow from operating activities was -116,183,768.58 RMB, an improvement from -281,637,473.47 RMB in the previous year[37] - Total cash inflow from operating activities reached 1,959,798,547.36 RMB, compared to 1,713,866,179.24 RMB in the same period last year, marking an increase of approximately 14.3%[37] - Cash outflow from operating activities totaled 2,075,982,315.94 RMB, up from 1,995,503,652.71 RMB, indicating a rise of about 4.0%[37] - The net cash flow from investing activities was -180,865,811.30 RMB, an improvement from -321,948,110.08 RMB year-over-year[37] - Cash inflow from investing activities was 450,066,920.94 RMB, down from 764,848,501.77 RMB, reflecting a decrease of approximately 41.2%[37] - Cash outflow from investing activities was 630,932,732.24 RMB, compared to 1,086,796,611.85 RMB, showing a decrease of about 42.0%[37] - The net cash flow from financing activities was 116,393,165.85 RMB, a significant decrease from 611,571,713.07 RMB in the previous year[38] - Total cash inflow from financing activities was 586,568,830.94 RMB, down from 815,595,866.50 RMB, indicating a decline of approximately 28.0%[38] - The ending cash and cash equivalents balance was 322,783,930.18 RMB, a decrease from 493,886,565.32 RMB year-over-year[38] Operational Highlights - Accounts receivable increased by 75.86% to ¥288,644,779.62 due to an increase in customer settlements using notes[14] - Inventory rose by 41.49% to ¥1,306,763,121.99, primarily driven by increased orders[14] - Prepayments increased by 135.97% to ¥155,779,081.80, reflecting a rise in orders[15] - Sales expenses increased by 33.64% to ¥171,658,776.62, mainly due to higher market development costs[15] - Financial expenses surged by 83.92% to ¥30,635,903.97, attributed to increased loan interest expenses[15] - Other income rose significantly by 371.68% to ¥46,441,996.29, primarily due to increased government subsidies[15] - The company signed a procurement contract for power supply systems for 10 subway lines in Guangzhou, totaling ¥58.69 billion[17] - The company expects the new project to positively impact its operating performance and market expansion in the rail transit sector[17] - The company's sales expenses for the first three quarters of 2019 were ¥109,492,504.32, up 35.2% from ¥80,996,287.17 in the first three quarters of 2018[32] - The company's financial expenses for the first three quarters of 2019 were ¥28,916,903.27, an increase of 63.4% from ¥17,684,700.80 in the same period of 2018[32] - The company's gross profit margin for Q3 2019 was approximately 23.5%, compared to 23.8% in Q3 2018, indicating a slight decrease[32] Research and Development - Research and development expenses for the first three quarters of 2019 were CNY 73,650,952.55, compared to CNY 62,168,287.00 in the same period of 2018, indicating an increase of about 18.5%[26] - Research and development expenses for the first three quarters of 2019 totaled ¥58,692,546.66, up 15.5% from ¥50,656,348.15 in the same period of 2018[32]