JiHuaGroup(SH:603980)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥410,940,411.30, a decrease of 24.94% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥27,609,716.84, representing a decline of 377.74% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥50,116,447.09, a decrease of 240.01% compared to the previous year[5]. - Total revenue for the first three quarters of 2022 was CNY 1,554,151,554.87, a decrease from CNY 1,708,862,981.72 in the same period of 2021, representing a decline of approximately 9%[20]. - The net profit for the third quarter of 2022 was a loss of CNY 40,633,851.64, compared to a profit of CNY 149,067,562.71 in the same quarter of 2021, marking a significant decline[22]. - The operating profit for the third quarter of 2022 was a loss of CNY 37,637,422.24, contrasting with a profit of CNY 195,792,370.13 in the previous year[21]. - The total comprehensive income for Q3 2022 was -40,633,851.64 RMB, compared to 149,067,562.71 RMB in Q3 2021, indicating a significant decline[23]. - The basic and diluted earnings per share for Q3 2022 were both -0.06 RMB, down from 0.21 RMB in Q3 2021[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,537,849,715.19, an increase of 2.53% from the end of the previous year[6]. - The total assets as of the end of the third quarter of 2022 amounted to CNY 5,537,849,715.19, compared to CNY 5,401,098,288.92 at the end of the previous year, reflecting a slight increase[18]. - Current liabilities increased to CNY 1,086,206,233.14 in the third quarter of 2022, up from CNY 805,602,790.87 in the same period of 2021, representing an increase of approximately 35%[18]. - Non-current liabilities totaled CNY 80,144,513.01, compared to CNY 77,516,277.37 in the previous year, showing a modest increase[18]. Cash Flow - Cash flow from operating activities for the year-to-date was -¥20,248,080.96, an increase of 39.95% compared to the previous year[5]. - Cash inflows from operating activities for the first three quarters of 2022 were 656,773,611.20 RMB, a decrease of 2.0% from 670,445,983.66 RMB in the same period of 2021[24]. - The net cash flow from operating activities for Q3 2022 was -20,248,080.96 RMB, an improvement from -33,718,493.02 RMB in Q3 2021[25]. - The cash and cash equivalents at the end of Q3 2022 were 725,876,535.90 RMB, significantly higher than 357,063,127.79 RMB at the end of Q3 2021[25]. - The company reported a total tax payment of 120,197,619.68 RMB in Q3 2022, an increase from 93,471,694.98 RMB in Q3 2021[25]. Investments and Expenses - The company reported a significant increase in short-term borrowings by 160.53%, primarily to meet operational funding needs[10]. - The investment property increased by 361.47% due to the completion of the first phase of the innovation industrial park project[10]. - The company experienced a 243.00% increase in accounts payable, mainly due to an increase in bank acceptance bills issued for payment[10]. - The company’s financial expenses increased by 316.52 million RMB, primarily due to increased exchange rate losses during the period[11]. - The company’s investment income decreased by 63.08 million RMB, reflecting significant profits from the sale of trading financial assets in the previous period[11]. - Research and development expenses for the third quarter of 2022 were CNY 71,485,219.35, down from CNY 77,698,350.25 in the same quarter of 2021, indicating a reduction in investment in innovation[21]. Inventory and Asset Management - The company’s inventory as of September 30, 2022, was valued at 591.01 million RMB, down from 702.80 million RMB at the end of 2021, indicating improved inventory management[16]. - The company’s long-term equity investments increased to 106.54 million RMB from 87.83 million RMB, reflecting strategic investment decisions[16]. - The company experienced a 1,018.56 million RMB impairment loss on assets, driven by weak market demand and declining sales prices, leading to increased inventory write-down provisions[11]. - The operating cash flow generated was 39.95 million RMB, resulting from a decrease in the prices of major raw materials and reduced purchasing expenditures[11].