Succeeder(SH:688338)2020-10-27 16:00Financial Performance - Operating revenue for the first nine months decreased by 4.77% year-on-year, totaling CNY 151,135,602.87[7] - Net profit attributable to shareholders decreased by 16.05% year-on-year, amounting to CNY 40,158,932.04[7] - Basic earnings per share decreased by 29.63% to CNY 0.57[8] - The net profit attributable to shareholders decreased by 16.05%, primarily due to a reduction in routine testing volumes in domestic medical institutions caused by the COVID-19 pandemic, leading to a 4.77% decline in operating revenue[22] - The net profit for Q3 2020 was CNY 15,112,444.36, down from CNY 17,447,605.30 in Q3 2019, indicating a decrease of about 13.4%[42] - The total profit for Q3 2020 was CNY 17,823,480.99, slightly lower than CNY 20,028,438.23 in Q3 2019, showing a decline of about 10.9%[42] - The company's basic earnings per share for Q3 2020 were CNY 0.21, down from CNY 0.29 in Q3 2019, a decrease of approximately 27.6%[43] - The total comprehensive income for Q3 2020 was CNY 15,112,444.36, down from CNY 17,447,605.30 in Q3 2019, indicating a decline of approximately 13.4%[43] Assets and Liabilities - Total assets increased by 219.98% year-on-year, reaching CNY 1,365,319,400.68 at the end of the reporting period[7] - Total liabilities reached CNY 38,196,868.84, down from CNY 51,997,723.42 year-over-year[38] - Total equity attributable to shareholders increased to CNY 1,327,122,531.84 from CNY 374,693,962.58, reflecting strong growth in retained earnings[34] - The company's total liabilities decreased by approximately 26.5% year-over-year, indicating improved financial health[38] - The company’s total liabilities were reported at ¥51,997,723.42, remaining consistent with the previous year, which reflects effective liability management[52] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 29,456,685.13, a decrease of 1.96% year-on-year[7] - The net cash flow from operating activities decreased primarily due to the reduction in operating revenue[21] - The net cash flow from investing activities showed a significant decline of 581.72%, from -CNY 4,556,016.32 in 2019 to -CNY 31,059,154.12 in 2020[23] - The net cash flow from financing activities increased by 748.95%, rising from CNY 107,500,363.98 in 2019 to CNY 912,623,588.23 in 2020[23] - Cash flow from operating activities for the first nine months of 2020 was CNY 191,503,072.86, up from CNY 181,312,285.32 in the first nine months of 2019, reflecting a growth of approximately 5.67%[46] - The net cash flow from financing activities in Q3 2020 was CNY 912,623,588.23, significantly higher than CNY 107,500,363.98 in Q3 2019, showing an increase of about 748.57%[47] Shareholder Information - The company had a total of 10,752 shareholders at the end of the reporting period[12] - The largest shareholder, Wu Shiming, holds 34.66% of the shares, totaling 28,298,431 shares[12] Research and Development - Research and development expenses accounted for 6.75% of operating revenue, an increase of 0.50 percentage points compared to the previous year[8] - Research and development expenses increased by 2.81% to approximately ¥10.20 million, reflecting ongoing investment in new technologies[18] - Research and development expenses for Q3 2020 were CNY 3,403,955.33, compared to CNY 3,238,793.55 in Q3 2019, reflecting an increase of approximately 5.1%[44] Government Subsidies and Other Income - The company reported a government subsidy of CNY 1,336,817.32 related to its normal business operations[9] - Other income increased by 100.62%, primarily due to an increase in government subsidies related to income[24] Market Outlook - The company anticipates a gradual recovery in testing volumes as the domestic COVID-19 situation stabilizes, although year-to-date testing volumes remain lower than the previous year[14] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39] Equity and Capital - The company completed a public offering of 20.41 million shares in July 2020, raising a net amount of approximately ¥924.27 million, significantly increasing its cash reserves by 281.94%[15][16] - The company issued 20,412,000 shares on August 6, 2020, raising a net amount of CNY 92,426.96 million, which increased the total share capital to CNY 8164.8 million[26] Intangible Assets - The company reported a significant increase in intangible assets by 3,821.20%, primarily due to the acquisition of land use rights by its subsidiary[19] Financial Ratios - The weighted average return on equity decreased by 17.44 percentage points, primarily due to the issuance of new shares and the decline in net profit attributable to shareholders[28]