RSIT(SH:688215)2020-10-27 16:00Financial Performance - Operating revenue decreased by 42.94% to CNY 100.57 million for the first nine months compared to the same period last year[8] - Net profit attributable to shareholders decreased by 45.44% to CNY 19.39 million for the first nine months compared to the same period last year[8] - Net profit after deducting non-recurring gains and losses decreased by 80.24% to CNY 5.84 million for the first nine months compared to the same period last year[8] - The weighted average return on net assets decreased by 26.41 percentage points to 11.95%[8] - Basic and diluted earnings per share decreased by 47.46% to CNY 0.62[8] - The significant decline in performance was primarily due to the impact of the COVID-19 pandemic, leading to increased uncertainty in equipment investment from downstream customers[9] - The company reported a significant decline in sales for the first nine months of 2020 due to the impact of the COVID-19 pandemic, with new order amounts decreasing compared to the same period last year[22] - The company anticipates a significant risk of a substantial decline in performance for the full year 2020 due to uncertainties in downstream industry recovery and order signing[22] Assets and Liabilities - Total assets increased by 149.46% to CNY 494.93 million compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 251.83% to CNY 433.66 million compared to the end of the previous year[8] - The total number of shareholders is 5,353[13] - The total liabilities as of September 30, 2020, were CNY 57,694,471.35, down from CNY 71,666,327.47 in the previous year[28] - The company's cash and cash equivalents stood at CNY 319,692,427.90, compared to CNY 27,869,016.00 in the previous year, indicating a strong liquidity position[26] - The total assets as of September 30, 2020, were CNY 494,926,743.59, compared to CNY 198,401,525.61 in the previous year, reflecting growth in asset base[27] - The company’s equity attributable to shareholders was CNY 433,658,479.70, a notable increase from CNY 123,257,215.86 in the previous year[28] Cash Flow - The cash flow from operating activities decreased by 70.05% to CNY 6.22 million for the first nine months compared to the same period last year[8] - Cash inflow from sales of goods and services for the first three quarters of 2020 was CNY 119,673,261.30, a decline of 27% from CNY 164,000,276.84 in 2019[40] - Cash outflow for purchasing goods and services was CNY 78,394,412.42, compared to CNY 85,083,264.71 in the previous year, indicating a decrease of 7.9%[41] - Cash inflow from financing activities was CNY 360,647,300.00 in 2020, significantly higher than CNY 13,000,000.00 in 2019[41] - The total cash and cash equivalents at the end of the third quarter of 2020 reached CNY 318,572,427.90, up from CNY 28,671,958.42 at the end of the same period in 2019[41] Research and Development - R&D investment as a percentage of operating revenue increased by 3.80 percentage points to 11.92%[9] - Research and development expenses for Q3 2020 were ¥4,731,082.49, down 23.3% from ¥6,173,768.05 in Q3 2019[33] - Research and development expenses for Q3 2020 were CNY 815,816.23, reflecting ongoing investment in innovation[36] - The company plans to continue focusing on R&D and market expansion despite the current financial challenges[36] Legal Matters - The company is involved in ongoing litigation regarding patent infringement, with a recent ruling requiring compensation of ¥1,000,000 and additional costs of ¥350,000[19] - The patent involved in the litigation has been declared invalid, which does not affect the company's product and business development[21] Changes in Accounting Standards - The company executed new revenue recognition standards, impacting the classification of various financial items[16] - The company adopted the new revenue recognition standard starting January 1, 2020, impacting the presentation of contract assets and undistributed profits[51]