Arcvideo Tech(SH:688039)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥50,485,242.74, a decrease of 16.54% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥13,367,305.10, reflecting a significant decline of 437.36% year-over-year[5]. - The net profit attributable to shareholders for the year-to-date period was ¥13,231,036.53, down 35.17% year-over-year[5]. - The net profit for Q3 2021 was CNY 13,231,036.53, a decrease of 35.4% compared to CNY 20,407,706.19 in the same period last year[26]. - The total profit for Q3 2021 was CNY 11,852,537.03, down from CNY 20,136,276.17 year-over-year, reflecting a decline of 41.2%[26]. - Operating profit for Q3 2021 was CNY 12,077,937.17, compared to CNY 20,466,575.56 in the previous year, indicating a decrease of 41.1%[26]. Research and Development - Research and development (R&D) expenses totaled ¥24,427,765.16 for the quarter, representing an increase of 76.09% compared to the previous year[6]. - R&D expenses accounted for 48.39% of operating revenue, an increase of 25.46 percentage points year-over-year[6]. - Research and development expenses for the first three quarters of 2021 amounted to RMB 66,335,304.16, significantly higher than RMB 36,464,525.24 in the previous year, indicating an increase of 81.9%[25]. - The company anticipates continued investment in new products and technologies, contributing to increased R&D expenditures[10]. Cash Flow and Assets - The company reported a cash flow from operating activities of -¥84,763,527.98 for the year-to-date period[6]. - The company's cash and cash equivalents as of September 30, 2021, were RMB 841,377,930.48, down from RMB 974,040,402.91 at the end of 2020, a decrease of 13.6%[21]. - Cash and cash equivalents at the end of Q3 2021 stood at CNY 590,288,477.58, down from CNY 606,509,802.25 at the end of Q3 2020[32]. - The total assets at the end of the quarter were ¥1,577,135,064.73, a decrease of 2.78% from the end of the previous year[6]. - The total assets of the company as of September 30, 2021, were RMB 1,577,135,064.73, a slight decrease from RMB 1,622,189,678.68 at the end of 2020, reflecting a decline of 2.8%[24]. - The total liabilities decreased to RMB 117,397,196.07 as of September 30, 2021, from RMB 148,838,846.55 at the end of 2020, indicating a reduction of 21.0%[23]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,828[13]. - The top three shareholders hold the following shares: Dalian Hongchang Enterprise Management Partnership (15.75%), Dalian Hongtu Enterprise Management Partnership (11.66%), and Dalian Hongshi Enterprise Management Partnership (11.40%)[13]. - The chairman and general manager, Sun Yanlong, has increased his shareholding in the company by acquiring 167,500 shares, representing 0.21% of the total shares, with a total investment of RMB 10,009,700[19]. - The company plans to continue its share buyback program within the specified timeframe, aiming to increase shareholder value[19]. - The company has not received any declarations regarding the existence of related relationships or concerted actions among its top shareholders[14]. Business Expansion and Projects - The company experienced increased sales expenses due to the expansion of its 5G edge computing products and video platform applications across multiple industries[10]. - The company has successfully applied its 5G edge computing products in public security and rail transit industries, with ongoing expansion into other sectors such as energy and finance[16]. - The company is participating in the "Hundred Cities, Thousand Screens" 8K ultra-high-definition video promotion project, involving 11 key cities[17]. - The company plans to invest 100 million RMB in the CCTV Media Industry Investment Fund, which has a total scale of 10 billion RMB[18]. - The first phase of the CCTV Industry Fund has a total subscription amount of 3.7125 billion RMB, with the company holding a 2.69% stake[18]. - The company is involved in the construction of the first 4K ultra-high-definition sports channel in the world, CCTV Olympic Channel[17]. - The company's 5G edge computing technology can reduce return transmission rates by 90% while maintaining video quality[16]. - The company is actively expanding its applications in various safety-related industries based on market demand[16].