Financial Performance - The company's operating revenue for Q3 2021 was ¥52,768,723.60, a decrease of 23.46% year-over-year[5]. - The net profit attributable to shareholders was ¥3,059,729.57, down 71.60% compared to the same period last year[5]. - The net profit excluding non-recurring gains and losses was -¥1,375,051.22, a decline of 118.51% year-over-year[5]. - Total revenue for the first three quarters of 2021 was CNY 123,762,198.50, a decrease from CNY 163,685,031.06 in the same period of 2020, representing a decline of approximately 24.4%[24]. - The net profit for Q3 2021 was -¥18,508,788.23, a significant decline compared to a net profit of ¥20,109,233.18 in Q3 2020, representing a year-over-year decrease of approximately 192%[25]. - The total operating profit for Q3 2021 was -¥28,038,870.06, compared to an operating profit of ¥25,148,742.22 in the same period last year, indicating a substantial drop in operational performance[25]. - The basic earnings per share for Q3 2021 was -¥0.22, compared to ¥0.32 in Q3 2020, indicating a negative shift in profitability per share[26]. Assets and Liabilities - The total assets increased by 89.30% to ¥806,884,774.44 compared to the end of the previous year[6]. - The company's total liabilities decreased to CNY 105,312,999.14 from CNY 134,897,920.18 in the previous year, a reduction of about 21.9%[22]. - The equity attributable to shareholders increased to CNY 699,981,322.36 from CNY 291,332,011.97, representing a growth of approximately 140.5%[23]. - Total current assets reached CNY 607,830,855.71 as of September 30, 2021, compared to CNY 322,111,123.43 at the end of 2020, marking an increase of approximately 88.9%[21]. - Cash and cash equivalents were CNY 64,998,226.10 as of September 30, 2021, down from CNY 124,112,326.53 at the end of 2020, a decline of about 47.7%[20]. Research and Development - Research and development expenses amounted to ¥11,270,234.60, representing 21.36% of operating revenue, an increase of 7.27 percentage points year-over-year[6]. - Research and development expenses for the first three quarters of 2021 were CNY 25,808,330.97, compared to CNY 22,685,244.55 in 2020, reflecting an increase of approximately 14.9%[24]. - The company plans to continue increasing R&D investment to maintain a competitive edge in the rapidly developing industrial drone industry[10]. - The company holds 44 authorized invention patents as of the end of the reporting period, having obtained 7 new patents during the year[16]. Cash Flow - The cash flow from operating activities was -¥116,834,621.45 for the year-to-date period, indicating significant cash outflow[6]. - Cash flow from operating activities for the first nine months of 2021 was -¥116,834,621.45, worsening from -¥50,940,232.62 in the same period of 2020[30]. - The total cash and cash equivalents at the end of Q3 2021 were ¥54,814,543.46, down from ¥68,075,376.46 at the end of Q3 2020, indicating a decrease of approximately 19%[31]. - The net cash flow from financing activities for the first nine months of 2021 was ¥395,535,949.97, a significant improvement from -¥6,823,313.65 in the same period of 2020[31]. Market and Product Development - The company launched new products including the CW-15 II and CW-25 drones, which have shown strong sales momentum, and introduced the CW-40 drone at the Zhuhai Airshow, targeting both civil and defense markets[15]. - The total order amount for the first nine months of 2021 increased by 11.80% year-on-year, with an unfulfilled order backlog of 102 million RMB, representing a 100% increase compared to September 2020[17]. - The company plans to continue expanding key markets and major project implementations in Q4 2021, focusing on channel development and strengthening partnerships[17]. - The company actively engages in industry-academia-research collaborations to enhance its value creation capabilities for customers[15]. Operational Challenges - The company experienced a significant increase in operating expenses, contributing to the decline in net profit[10]. - The company is facing uncertainties in product delivery due to the pandemic and supply chain issues, which may impact overall performance for the year[17]. - The company is committed to enhancing its core product development and internal management to improve operational performance in the long term[17]. - The company increased investments in management, R&D, and sales, leading to a significant rise in expenses despite a decline in revenue year-on-year[17].
纵横股份(688070) - 2021 Q3 - 季度财报