TCT(SH:688015)2020-10-27 16:00Financial Performance - Net profit attributable to shareholders for the first nine months of 2020 was RMB 128.26 million, representing a significant increase of 170.94% year-on-year[6]. - Operating revenue for the first nine months of 2020 amounted to RMB 1,242.02 million, up 38.03% from the same period last year[6]. - The net profit after deducting non-recurring gains and losses was RMB 104.73 million, reflecting a year-on-year increase of 193.08%[6]. - Basic and diluted earnings per share for the first nine months of 2020 were RMB 0.80, a 116.22% increase compared to the same period last year[7]. - Total revenue for Q3 2020 reached ¥502,845,429.67, a 48.8% increase compared to ¥337,627,744.18 in Q3 2019[42]. - Net profit for the first three quarters of 2020 was ¥126,535,931.04, compared to a net profit of ¥29,738,219.18 in the same period of 2019, indicating a substantial growth[42]. - The net profit for Q3 2020 reached ¥34,934,989.44, up 105.5% from ¥17,009,988.44 in the same quarter last year[46]. - Total profit for Q3 2020 was ¥41,099,987.59, a 105.4% increase from ¥20,011,751.10 in Q3 2019[46]. Cash Flow - The net cash flow from operating activities increased by 57.63% year-on-year, totaling RMB 309.41 million for the first nine months of 2020[8]. - The net cash flow from operating activities improved by 57.63% to ¥309,413,483.79, driven by better project collections and increased advance payments[15][25]. - Cash inflow from operating activities totaled CNY 1,846,827,358.58, up from CNY 1,483,414,206.26 year-on-year, indicating a growth of 24.5%[49]. - Cash flow from investment activities generated a net inflow of CNY 205,952,545.73, a significant improvement compared to a net outflow of CNY 427,696,786.74 in the previous year[49]. - The net cash flow from financing activities was negative CNY 34,192,065.85, a decline from a positive inflow of CNY 540,898,083.27 in the previous year[50]. Assets and Liabilities - Total assets as of September 30, 2020, reached RMB 4,426.63 million, an increase of 24.67% compared to the end of the previous year[6]. - Current liabilities totaled ¥3,056,165,065.14, compared to ¥2,335,079,213.27 in the previous year, showing a rise in short-term obligations[40]. - The total liabilities as of September 30, 2020, were ¥3,231,740,965.88, compared to ¥2,456,891,752.73 at the end of 2019, indicating a rise in overall debt levels[38]. - Cash and cash equivalents increased by 45.97% to ¥1,545,392,249.68 compared to the end of last year, primarily due to the redemption of structured deposits and an increase in project prepayments[29]. - Total current assets amounted to CNY 3,243,463,210.27, with cash and cash equivalents at CNY 1,058,704,583.84 and accounts receivable at CNY 930,331,320.27[54]. Research and Development - Research and development expenses accounted for 7.59% of operating revenue, up from 6.92% in the previous year[7]. - Research and development expenses rose by 51.34% to ¥94,257,902.06, attributed to an increase in the scale and compensation of R&D personnel as well as higher depreciation from R&D equipment investments[15][18]. - Research and development expenses for Q3 2020 were ¥41,863,477.84, compared to ¥27,271,298.71 in Q3 2019, highlighting increased investment in innovation[42]. - The company's R&D expenses in Q3 2020 were ¥38,236,600.93, which is a 49.0% increase from ¥25,662,507.91 in Q3 2019[46]. Shareholder Information - The total number of shareholders as of the reporting date was 8,896[11]. - Shareholders' equity increased to ¥1,194,887,976.12 from ¥1,093,786,594.95, reflecting a growth in the company's net worth[38]. - The company reported a capital reserve of approximately $654.12 million and retained earnings of about $240.66 million[60]. Contracts and Revenue Recognition - The company signed a significant contract for the Tianjin Metro Line 6 signal system with a total amount of ¥271,508,888[30]. - The company also signed a contract for the Nanning Metro Line 4 system maintenance project worth ¥163,333,439.95[30]. - The company implemented a new revenue recognition standard effective January 1, 2020, impacting financial reporting[56]. - The total amount of contract liabilities was CNY 857,170,521.56, reflecting prepayments received from customers[55].