Taihe(SH:605081)2021-10-25 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥74,076,389.78, a decrease of 54.54% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥13,230,101.73, down 66.03% year-over-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥12,869,102.82, a decline of 66.39% compared to the previous year[5] - The basic earnings per share for Q3 2021 was ¥0.17, a decrease of 74.24% from the same period last year[6] - Total operating revenue for the first three quarters of 2021 was ¥255,165,022.34, a decrease of 33% compared to ¥381,039,457.74 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was ¥55,021,975.05, a decline of 41.2% from ¥93,465,859.57 in the same period of 2020[21] - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.74, compared to ¥1.6 in the same period of 2020[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,030,372,123.98, an increase of 59.89% compared to the end of the previous year[9] - Total assets as of September 30, 2021, reached CNY 2,030,372,123.98, an increase from CNY 1,269,819,984.68 at the end of 2020[15] - Current assets amounted to CNY 1,732,527,394.54, up from CNY 1,048,468,904.58 year-over-year[15] - Total liabilities decreased to CNY 227,031,023.16 from CNY 300,907,417.83[17] - The total liabilities rose from ¥300,907,417.83 to ¥313,359,474.12, an increase of ¥12,452,056.29[30] Shareholders' Equity - The equity attributable to shareholders increased to ¥1,802,363,224.51, reflecting an 86.02% rise year-over-year[9] - Shareholders' equity rose to CNY 1,803,341,100.82, compared to CNY 968,912,566.85 at the end of 2020[17] - The company's equity attributable to shareholders decreased slightly by ¥862,133.97, from ¥968,912,566.85 to ¥968,050,432.88[30] Cash Flow - The company reported a net cash flow from operating activities of -¥38,284,684.61 for Q3 2021[6] - Cash flow from operating activities for the first three quarters of 2021 was negative at -¥158,260,978.80, worsening from -¥100,040,226.61 in 2020[24] - Cash inflow from operating activities totaled ¥151,768,406.22, down from ¥212,136,069.50 in the same period of 2020[24] - Cash outflow from operating activities was ¥310,029,385.02, slightly lower than ¥312,176,296.11 in 2020[24] - The net cash flow from investing activities was -¥69,720,143.63, indicating significant cash outflow for investments[25] - The total cash inflow from financing activities reached ¥849,601,536.01, primarily from investments received[25] - The net increase in cash and cash equivalents for the period was ¥549,405,973.24, resulting in a closing balance of ¥794,871,639.55[25] - The company reported a cash outflow of ¥72,214,440.34 from financing activities, primarily due to debt repayments[25] Operational Insights - The decline in revenue and profit margins was attributed to factors such as owner investment plans and project bidding processes[9] - The company received government subsidies amounting to ¥332,000.00 during the reporting period[8] - The weighted average return on net assets decreased by 3.2 percentage points for the reporting period due to reduced net profit[9] - The company is focusing on expanding its market presence and developing new technologies[19] Expenses - Total operating costs for the first three quarters of 2021 were ¥177,190,586.01, down from ¥255,067,048.17 in 2020, representing a 30.6% reduction[20] - Research and development expenses for the first three quarters of 2021 were ¥17,178,809.78, an increase from ¥16,473,571.66 in 2020[20] - Sales expenses decreased to ¥18,164,216.24 from ¥26,282,999.82 in the previous year, reflecting a 30.9% reduction[20] - The company reported a financial income of -¥11,085,064.05 for the first three quarters of 2021, compared to -¥2,298,190.35 in 2020, indicating a significant increase in financial costs[20] Inventory and Investments - The company’s inventory increased to CNY 13,382,440.28 from CNY 7,585,384.20 year-over-year[15] - The company recorded a significant investment in fixed assets, totaling ¥69,730,388.63, indicating ongoing capital expenditures[25] Leasing Standards - The company has implemented new leasing standards starting January 1, 2021, affecting the financial statements[31] - The total assets increased from ¥1,269,819,984.68 to ¥1,281,409,907.00, reflecting a rise of ¥11,589,922.32 due to the adoption of new leasing standards[29]