Bonree(SH:688229)2020-10-29 16:00Financial Performance - Operating revenue for the first nine months decreased by 3.29% year-on-year to approximately CNY 95.02 million[6] - Net profit attributable to shareholders decreased by 52.40% year-on-year to approximately CNY 10.26 million[6] - Basic and diluted earnings per share decreased by 64.62% to CNY 0.23[7] - Net profit for the first three quarters of 2020 decreased by 52.40% to ¥10,260,197.50 from ¥21,556,346.05 in the same period of 2019, mainly due to increased expenses[15] - Operating profit fell by 50.77% to ¥12,663,623.15, reflecting a rise in various expenses during the reporting period[15] - Revenue for Q3 2020 was 21,831,240.76 RMB, a decrease of 18.5% from 26,630,346.33 RMB in Q3 2019[22] - The company reported a net loss of CNY 9,487,141.31 for Q3 2020, compared to a net profit of CNY 10,260,197.50 in the same period last year, representing a significant decline[23] - The total operating profit for Q3 2020 was CNY -10,696,931.00, a decline from CNY 12,663,623.15 in Q3 2019[23] - The company reported a total profit of CNY -10,723,422.42 for Q3 2020, compared to a profit of CNY 12,630,552.25 in the same quarter last year[23] Assets and Liabilities - Total assets increased by 277.14% year-on-year to approximately CNY 890.96 million[6] - The company’s total liabilities decreased by 22.85% in accounts payable, amounting to ¥6,378,775.90, due to payments made to suppliers[14] - The company’s capital reserve increased significantly to ¥646,058,554.33, reflecting the completion of the initial public offering[14] - Current liabilities reached ¥32,342,711.74, including accounts payable of ¥8,268,186.55 and accrued employee compensation of ¥7,901,589.53[28] - Total assets amounted to ¥236,239,251.61, with non-current assets totaling ¥7,554,793.67[28] - The total liabilities were reported at ¥32,342,711.74, indicating a stable financial position[29] Cash Flow - Net cash flow from operating activities for the first nine months was negative CNY 5.79 million, a decrease of 127.46% year-on-year[6] - The net cash flow from operating activities for Q3 2020 was -5,792,020.60 RMB, a decrease of 127.46% compared to the previous period, primarily due to increased personnel costs and IPO-related expenses[16] - The net cash flow from investing activities was -172,743,389.36 RMB, mainly due to the purchase of structured deposits[16] - The net cash flow from financing activities was 652,688,388.58 RMB, primarily from funds raised during the IPO[16] - The company experienced a cash inflow from investment activities of CNY 348,885,641.91, compared to CNY 272,621,589.09 in the previous year, indicating a 28% increase[25] - The net cash flow from financing activities was CNY 652,688,388.58, a significant improvement compared to a net outflow of CNY -19,980,000.00 in the same period last year[26] - The company ended the period with cash and cash equivalents of CNY 632,427,748.07, up from CNY 128,101,932.75 at the end of the previous year[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 3,461[11] - The largest shareholder, Li Kai, holds 23.12% of the shares, totaling 10,266,270 shares[11] Research and Development - Research and development expenses accounted for 31.56% of operating revenue, an increase of 16.68 percentage points[7] - Research and development expenses for the first three quarters of 2020 totaled 29,989,116.74 RMB, an increase from 26,576,192.25 RMB in the same period of 2019[22] - The company obtained 2 new invention patents and 4 software copyrights during the reporting period, bringing the total to 7 patents and 63 copyrights[16] Other Financial Metrics - The company reported a government subsidy of CNY 262,384.89 for the first nine months[8] - The company reported a 100% increase in trading financial assets, reaching ¥172,198,669.58, attributed to the purchase of structured deposits during the reporting period[13] - Fixed assets rose by 46.14% to ¥5,875,554.63, driven by core equipment upgrades and new employee purchases of electronic devices[13] - Employee compensation liabilities increased by 35.27% to ¥10,688,572.94, attributed to company expansion and an increase in workforce[14] - The company reported a 383.25% increase in financial income, reaching -¥1,865,438.43, due to higher interest income from deposits[15] - The company’s sales expenses increased by 23.24% to ¥24,843,334.01, driven by the expansion of the company’s scale and workforce[15] Changes in Accounting Standards - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial reporting[29] - The company has not made adjustments to prior period data under the new revenue standards[30] - The company has not disclosed any new product developments or market expansion strategies in the current report[30]