Appo(SH:688007)2020-10-28 16:00Financial Performance - Operating income for the first nine months was CNY 1,238,398,708.87, representing a year-on-year decrease of 8.39%[17] - Net profit attributable to shareholders was CNY 44,138,225.23, down 64.44% year-on-year[17] - Revenue in Q3 was CNY 522 million, a year-on-year increase of 4.81% and a quarter-on-quarter increase of 27.68%[20] - The company reported a basic earnings per share of ¥0.10, down 67.74% from ¥0.31 in the previous year[35] - Net profit for the period decreased to ¥16,647,218.80, a decline of 89.60% compared to ¥160,004,297.63 in the same period last year[35] - The company’s total profit for Q3 2020 was approximately ¥40.43 million, down 54.1% from ¥88.17 million in Q3 2019[65] - The net profit for Q3 2020 reached ¥43.90 million, compared to ¥24.48 million in Q3 2019, indicating a significant increase of approximately 79.6%[73] Cash Flow and Liquidity - Cash flow from operating activities for the first nine months was CNY 113,316,743.29, an increase of 108.64% year-on-year[17] - The company experienced a significant drop in financing cash flow, reporting a net outflow of ¥181,011,186.90 compared to an inflow of ¥1,000,513,933.95 in the previous year, a change of -118.09%[35] - The total cash flow from operating activities for the first three quarters of 2020 was approximately ¥1.46 billion, down from ¥1.52 billion in the same period of 2019, indicating a decrease of about 4.4%[75] - Cash inflow from sales of goods and services was CNY 623,172,212.09, down from CNY 759,373,200.75 year-over-year[82] - Cash outflow for purchasing goods and services increased to CNY 538,963,144.43 from CNY 478,755,326.24[82] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,064,551,514.66, a decrease of 1.13% compared to the end of the previous year[17] - As of September 30, 2020, cash and cash equivalents decreased by 44.75% to ¥483,912,743.79 from ¥875,858,784.58 due to increased investments and repayment of loans[31] - Total current assets decreased to ¥1,827,380,769.50 from ¥1,986,978,432.31, indicating a decline in liquidity[47] - The company’s total liabilities increased by 122.04% in current non-current liabilities to ¥144,256,472.46, due to an increase in long-term borrowings maturing within one year[32] - Total liabilities decreased from CNY 975,298,947.03 to CNY 928,456,651.83, a decrease of approximately 4.8%[52] - Current liabilities rose from CNY 648,014,701.58 to CNY 798,129,926.86, representing an increase of approximately 23.2%[50] Research and Development - R&D expenses in Q3 amounted to CNY 59,262,400, a year-on-year increase of 23.26%[21] - The company introduced the world's first 100-inch flexible Fresnel anti-light screen, significantly enhancing display performance[21] - Research and development expenses for Q3 2020 were approximately ¥59.26 million, an increase of 23.3% from ¥48.08 million in Q3 2019[61] Inventory and Receivables - Accounts receivable decreased by 43.43% to ¥99,577,072.66 from ¥176,035,155.24, primarily due to changes in product sales structure and sales model affected by the pandemic[31] - Inventory increased by 59.27% to ¥477,741,934.81 from ¥299,966,170.35, driven by increased safety stock and finished goods in response to the pandemic[31] - The company’s inventory increased to ¥477,741,934.81 from ¥299,966,170.35, indicating a rise in stock levels[47] Legal Matters - The company is involved in multiple ongoing lawsuits, with 4 cases as a defendant and 45 as a plaintiff, primarily related to patent infringement[38] Other Financial Metrics - The company’s weighted average return on net assets decreased by 10 percentage points to 2.21%[17] - The company’s other comprehensive income after tax attributable to the parent company decreased to ¥2,205,949.42, down 58.62% from ¥5,330,380.33[35] - The company’s long-term borrowings decreased by 74.15% to ¥72,269,365.00 from ¥279,615,107.27, as long-term borrowings were reclassified to current liabilities[32]