BLEST(SH:603959)2020-10-28 16:00Financial Performance - Operating revenue for the first nine months reached CNY 1,079,676,339.02, a 19.87% increase year-on-year[6] - Net profit attributable to shareholders decreased by 22.92% to CNY 50,005,174.29 compared to the same period last year[6] - Basic earnings per share decreased by 26.67% to CNY 0.11 compared to the same period last year[6] - The company reported a net loss of CNY 124,571,834.34 compared to a loss of CNY 100,277,601.90 in the previous period, indicating a worsening of approximately 24.2%[19] - The company reported a net profit of ¥50,987,197.04 for the first three quarters of 2020, down 21.0% from ¥64,524,852.83 in the same period of 2019[26] Assets and Liabilities - Total assets increased by 3.56% to CNY 2,839,277,736.89 compared to the end of the previous year[6] - Current liabilities decreased to CNY 2,117,677,170.75 from CNY 2,280,781,929.58, a reduction of about 7.1%[18] - The company's total liabilities decreased to CNY 2,125,568,891.78 from CNY 2,283,215,565.68, a decline of approximately 6.9%[18] - The company's total equity attributable to shareholders increased to CNY 704,612,792.20 from CNY 450,856,493.13, reflecting a growth of approximately 56.2%[19] - The company's total assets as of Q3 2020 amounted to 2,741,716,238.42 RMB, an increase from 2,667,224,461.89 RMB at the end of 2019, showing a growth of 2.8%[40] Cash Flow - Net cash flow from operating activities showed a decline of 42.20%, amounting to CNY -372,345,373.57 for the first nine months[6] - Cash and cash equivalents decreased by 58.80% to RMB 229,764,446.19 from RMB 557,719,641.96 due to significant payments for engineering projects[10] - The cash flow from financing activities netted 50,904,697.57 RMB in Q3 2020, a decrease from 173,876,493.40 RMB in Q3 2019, reflecting a decline of 70.7%[37] - The cash flow from operating activities for the first three quarters of 2020 was negative at -¥372,345,373.57, compared to -¥261,846,546.54 in the same period of 2019[34] Shareholder Information - The total number of shareholders reached 14,458 by the end of the reporting period[9] - The largest shareholder, Tibet Xinhai New Venture Investment Co., Ltd., holds 43.88% of the shares[9] Government Support - Government subsidies recognized in the first nine months amounted to CNY 12,348,049.70[7] - Other income rose by 502.04% to RMB 602,038.10 from RMB 100,000.00, attributed to government subsidies received[12] Inventory and Receivables - Accounts receivable increased by 70.87% to RMB 62,919,011.90 from RMB 36,823,500.00 due to pledged bank acceptance bills[10] - Inventory decreased by 35.02% to RMB 255,604,202.94 from RMB 393,345,505.68 as a result of new accounting standards[10] - The company's inventory increased significantly to 393,345,505.68 RMB in Q3 2020, up from 150,501,330.63 RMB in the previous year, representing a 161.0% increase[40] Legal and Operational Risks - The company is awaiting a court ruling on a dispute involving its subsidiary, which may impact future operations[13] - The company has not indicated any significant changes in expected cumulative net profit compared to the previous year[14] Research and Development - Research and development expenses for Q3 2020 were ¥14,519,077.36, a decrease of 17.5% from ¥17,595,508.44 in Q3 2019[25]