Vazyme(SH:688105)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥685,295,138.79, representing a year-on-year increase of 47.99%[8] - The net profit attributable to shareholders for Q3 2022 was ¥135,794,073.16, a decrease of 14.25% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥121,885,460.27, down 19.73% year-on-year[8] - The total revenue for the first three quarters of 2022 reached ¥2,305,008,853.45, an increase of 78.87% year-on-year[8] - Operating profit for the third quarter of 2022 was ¥846,493,380.05, compared to ¥625,708,909.12 in the previous year, indicating an increase of about 35.2%[39] - Net profit attributable to shareholders of the parent company for the third quarter of 2022 was ¥749,497,519.33, up from ¥550,217,138.59 in the same quarter of 2021, reflecting a growth of approximately 36.2%[39] - Total comprehensive income attributable to the parent company was ¥749,735,147.00, compared to ¥550,217,138.59 in the previous year, representing an increase of approximately 36.3%[42] - Basic and diluted earnings per share were both ¥1.87, up from ¥1.53 in the same period last year, indicating a growth of 22.2%[42] Research and Development - The company’s R&D expenses for Q3 2022 amounted to ¥112,946,153.19, a significant increase of 78.36% year-on-year[12] - The proportion of R&D expenses to operating revenue was 16.48%, an increase of 2.81 percentage points compared to the same period last year[12] - Research and development expenses for the first three quarters of 2022 totaled ¥269,896,412.14, compared to ¥147,863,826.86 in the same period of 2021, marking an increase of about 82.3%[37] - Research and development expenses increased to ¥184,578,549.97 in the first three quarters of 2022, compared to ¥101,008,979.48 in 2021, indicating a focus on innovation[54] Assets and Liabilities - The total assets at the end of Q3 2022 were ¥5,885,116,758.19, reflecting a year-on-year increase of 27.74%[12] - Total assets increased to RMB 5,885,116,758.19 as of September 30, 2022, up from RMB 4,607,119,884.54 at the end of 2021, representing a growth of approximately 27.8%[28] - The total liabilities for the company were reported at ¥776,991,325.54, compared to ¥363,741,923.70 in the previous year, indicating increased leverage[54] - Total liabilities as of the end of the reporting period amounted to ¥1,118,788,554.03, a significant rise from ¥479,829,915.56 in the previous year, indicating an increase of approximately 133.3%[37] - The company reported a significant increase in non-current assets, totaling RMB 1,601,746,485.10, compared to RMB 556,231,936.56 in the previous year[28] Cash Flow - The net cash flow from operating activities for the first three quarters was ¥127,862,604.78, down 57.28% year-on-year[12] - Cash inflow from operating activities totaled ¥2,142,954,800.17, significantly higher than ¥1,191,583,831.89 in the previous year, marking an increase of approximately 79.9%[46] - Cash outflow from operating activities was ¥2,015,092,195.39, compared to ¥892,309,967.96 in the previous year, reflecting a rise of about 125.4%[46] - Cash inflows from investment activities amounted to approximately ¥5.73 billion in the first three quarters of 2022, compared to ¥3.51 billion in the same period of 2021, representing an increase of about 63.1%[63] - The net cash flow from investment activities was negative at approximately -¥465 million in the first three quarters of 2022, slightly improved from -¥501 million in the same period of 2021[63] - Cash inflows from financing activities were ¥300 million in the first three quarters of 2022, with a net cash flow of approximately ¥78.30 million, compared to a net outflow of -¥24.22 million in the same period of 2021[63] Strategic Investments - The company acquired an 83.93% stake in Jiangsu Liquid Logic Biotechnology Co., Ltd. after investing RMB 121 million[26] - The establishment of Vazyme Germany GmbH was completed with a registered capital of €300,000, fully owned by the company[26] - The company secured land use rights for a plot of state-owned land for RMB 32.1 million[26] - The company’s total equity position improved, reflecting its strategic investments and acquisitions during the reporting period[26] Other Financial Metrics - The weighted average return on net assets was 2.45%, a decrease of 6.25 percentage points compared to the previous year[12] - Cash and cash equivalents decreased to RMB 953,491,183.60 from RMB 1,477,779,597.50, a decline of about 35.4%[28] - Accounts receivable rose significantly to RMB 645,516,612.62, compared to RMB 322,319,587.08, marking an increase of approximately 100.2%[28] - Inventory surged to RMB 672,014,593.32, up from RMB 242,188,912.54, reflecting an increase of around 177.5%[32] - The company's financial expenses showed a reversal, with a net income of -¥9,594,145.71 in the third quarter of 2022, compared to an expense of ¥2,802,898.36 in the same quarter of 2021[39] - Deferred income tax liabilities increased to ¥39,889,122.45 from ¥874,400.28, indicating a substantial rise[37] - The company reported a significant increase in sales expenses, which totaled ¥345,477,321.85 in the third quarter of 2022, compared to ¥201,487,568.14 in the same quarter of 2021, reflecting an increase of approximately 71.2%[37]