Sunxing(SH:603978)2021-10-18 16:00Financial Performance - The company's operating revenue for Q3 2021 was CNY 371,085,195.64, representing a year-on-year increase of 25.06%[5] - The net profit attributable to shareholders for Q3 2021 was a loss of CNY 757,075.54, a decrease of 111.34% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 1,763,861.02, down 140.19% year-on-year[6] - The basic earnings per share for Q3 2021 was -0.005 yuan, a decrease of 111.83% compared to the same period last year[6] - The total operating profit for Q3 2021 was CNY 33,156,196.70, an increase from CNY 28,782,004.92 in Q3 2020, representing a growth of approximately 15.5%[26] - The net profit for Q3 2021 reached CNY 30,691,180.55, compared to CNY 28,288,865.19 in the same period last year, marking an increase of about 8.5%[27] - Basic and diluted earnings per share for Q3 2021 were both CNY 0.19, up from CNY 0.18 in Q3 2020, indicating a growth of 5.6%[27] Revenue and Costs - The year-to-date operating revenue reached CNY 1,013,143,139.28, an increase of 40.24% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 reached ¥1,013,143,139.28, a significant increase from ¥722,441,095.89 in the same period of 2020, representing an increase of approximately 40.3%[25] - Total operating costs for the first three quarters of 2021 were ¥1,003,565,001.21, compared to ¥703,850,473.45 in 2020, reflecting an increase of about 42.6%[25] - The company reported a total revenue from sales of goods and services of CNY 795,419,686.16 for the first nine months of 2021, compared to CNY 435,404,775.30 in the same period of 2020, indicating a growth of approximately 82.8%[28] Cash Flow - The cash flow from operating activities for the year-to-date was -CNY 133,397,156.81, an increase of 31.07% year-on-year[6] - Cash inflow from operating activities for the first nine months of 2021 was CNY 809,245,252.96, significantly higher than CNY 488,673,165.27 in the same period of 2020, reflecting a growth of approximately 65.6%[28] - The net cash flow from operating activities for the first nine months of 2021 was negative CNY 133,397,156.81, an improvement from negative CNY 193,524,795.48 in the same period last year[28] - Cash inflow from financing activities in Q3 2021 was CNY 221,809,322.23, a decrease from CNY 995,539,500.00 in Q3 2020[29] - The net cash flow from financing activities for the first nine months of 2021 was negative CNY 161,806,746.78, compared to a positive CNY 801,371,671.85 in the same period last year[29] - The total cash and cash equivalents at the end of Q3 2021 were CNY 246,778,695.97, down from CNY 684,172,995.35 at the end of Q3 2020[29] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,549,487,215.70, a decrease of 7.22% from the end of the previous year[6] - The total assets as of the end of the third quarter of 2021 amounted to ¥2,549,487,215.70, a decrease from ¥2,748,022,590.96 at the end of 2020[22] - Total liabilities decreased to ¥879,479,518.61 in the third quarter of 2021 from ¥1,076,826,139.91 in the previous year, showing a reduction of approximately 18.3%[22] - The company's equity attributable to shareholders was reported at ¥1,670,007,697.09, slightly down from ¥1,671,196,451.05 in the previous year[22] - Short-term borrowings decreased significantly to ¥140,118,333.33 from ¥240,198,888.90, a reduction of about 41.7%[22] Research and Development - The company reported a decrease in gross margin for alloy products, attributed to rising financial and R&D expenses[10] - The company has increased R&D expenses due to ongoing new product development and the establishment of new pilot and demonstration production lines[17] - Research and development expenses increased to ¥41,022,977.66 in the first three quarters of 2021, up from ¥32,997,023.57 in 2020, indicating a growth of approximately 24.4%[25] - The company completed the construction and commissioning of the aluminum-manganese alloy production line with an annual capacity of 30,000 tons, which has already been launched into the market[15] - The automotive aluminum brazing flux, developed by the company, has a demonstration production line with a capacity of 500 tons per year, and the product has completed customer trials[15] - The lithium hexafluorophosphate production line has been adjusted to a capacity of 800 tons per year, with all debugging completed and production materials in place[16] Market and Competition - The company is facing increased competition in the mid-to-low-end product market, leading to reduced gross margins[17] - The company has a conservative estimate of annual demand for aluminum-manganese alloy products at no less than 350,000 tons[15] - The company's net profit experienced significant fluctuations due to rising aluminum ingot prices, decreased overseas demand, and increased R&D and convertible bond financial expenses[16] Shareholder Actions - The company repurchased 1.8849 million shares, accounting for 1.18% of the total share capital, with a total expenditure of approximately RMB 35.003 million[18] Liquidity Position - As of September 30, 2021, the company's cash and cash equivalents were RMB 248.83 million, a decrease from RMB 603.01 million at the end of 2020[20] - Accounts receivable increased to RMB 405.42 million from RMB 318.66 million at the end of 2020[20] - The company’s cash and cash equivalents were not explicitly detailed, but the overall liquidity position appears to have improved given the reduction in short-term borrowings[22] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[25]