Qingdao Gaoce(SH:688556)2022-10-27 16:00Financial Performance - The company's operating revenue for Q3 2022 reached ¥855,000,791.73, representing a year-on-year increase of 126.78%[6] - Net profit attributable to shareholders for the same period was ¥191,188,254.92, a significant increase of 396.85% compared to the previous year[6] - The net profit after deducting non-recurring gains and losses was ¥183,262,945.91, reflecting a year-on-year growth of 422.83%[6] - Total operating revenue for the first three quarters of 2022 reached ¥2,190,334,543.01, a significant increase from ¥972,711,141.06 in the same period of 2021, representing a growth of approximately 125.5%[34] - Net profit for the third quarter of 2022 was ¥428,141,565.71, up from ¥111,526,542.80 in the same quarter of 2021, reflecting an increase of approximately 284.5%[40] - Earnings per share for the third quarter of 2022 were ¥1.88, compared to ¥0.49 in the same quarter of 2021, marking an increase of about 284.0%[43] - The company reported a total profit of ¥476,704,698.69 for the third quarter of 2022, compared to ¥119,693,703.01 in the same quarter of 2021, indicating an increase of approximately 297.5%[39] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥5,151,008,622.67, marking a 59.23% increase from the end of the previous year[9] - The equity attributable to shareholders reached ¥1,717,726,490.91, up 48.84% year-on-year[9] - Current assets totaled CNY 3,907,715,340.23, up from CNY 2,424,423,654.01, indicating a growth of about 61.2% year-over-year[28] - Total liabilities as of the reporting date were ¥3,433,282,131.76, up from ¥2,080,816,421.96, reflecting an increase of approximately 65.0%[32] - Total current liabilities amounted to CNY 2,928,044,445.13, up from CNY 1,989,101,391.07, indicating a growth of about 47.3%[31] Cash Flow - The company reported a cash flow from operating activities of -¥49,983,139.34 for the year-to-date, indicating increased inventory and procurement payments[9] - Cash inflow from operating activities for the first three quarters of 2022 totaled ¥1,468,300,378.75, significantly higher than ¥618,087,727.09 in the same period of 2021, representing an increase of approximately 137.8%[45] - The net cash flow from operating activities was -$49,983,139.34, a decrease from $4,750,416.18 in the previous period, indicating a significant decline in operational performance[49] - The ending balance of cash and cash equivalents was $316,937,334.17, up from $162,159,215.58, reflecting a stronger liquidity position[51] Research and Development - Research and development expenses totaled ¥65,948,671.75, which is 7.71% of operating revenue, an increase of 0.05 percentage points from the previous year[9] - Research and development expenses for the first three quarters of 2022 amounted to ¥148,587,447.08, compared to ¥77,206,056.63 in 2021, indicating an increase of about 92.4%[37] Operational Insights - The significant increase in revenue was driven by a surge in equipment orders and a substantial rise in the production and shipment of diamond wire cutting equipment[14] - The company plans to continue expanding its silicon wafer and cutting service projects, which are expected to contribute to further revenue growth[14] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[25] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[25] Expenses - Total operating costs for the first three quarters of 2022 were ¥1,704,025,004.31, compared to ¥869,502,849.52 in 2021, indicating an increase of about 96.1%[34] - The company paid $393,206,318.75 in cash to employees, which is a substantial increase compared to $177,423,317.32 previously, indicating higher payroll expenses[49] - The total cash outflow for taxes was $112,431,513.90, compared to $33,765,162.68, showing an increase in tax liabilities[49]