WANYI SCIENCE(SH:688600)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 94.30% to CNY 1,358,760.05 for the first nine months of the year[6]. - Operating revenue for the first nine months was CNY 225,161,269.20, a decrease of 10.69% year-on-year[6]. - The weighted average return on equity decreased by 9.16 percentage points to 0.43%[6]. - Total operating revenue for Q3 2020 was approximately ¥87.81 million, a decrease of 16.1% compared to ¥104.71 million in Q3 2019[27]. - Net profit for the first three quarters of 2020 was approximately ¥225.16 million, down 10.7% from ¥252.12 million in the same period of 2019[27]. - The net profit for Q3 2020 was CNY -268,315.90, compared to a net profit of CNY 20,104,100.59 in Q3 2019, indicating a significant loss[30]. - The total profit for Q3 2020 was CNY -971.62, a decrease from CNY 23,892,507.57 in Q3 2019, showing a decline of nearly 100%[29]. - The company's total comprehensive income for Q3 2020 was CNY -268,315.90, down from CNY 20,104,100.59 in Q3 2019, marking a substantial decrease[30]. Assets and Liabilities - Total assets increased by 91.84% to CNY 961,161,761.50 compared to the end of the previous year[6]. - The company’s total assets reached ¥961.16 million, a significant increase from ¥501.03 million in the previous year[19]. - Total liabilities as of September 30, 2020, were approximately ¥174.74 million, compared to ¥172.49 million at the end of 2019[24]. - The total liabilities amounted to CNY 180,261,046.42, remaining stable compared to the previous year[40]. - The total assets of the company were CNY 501,030,242.16, unchanged from the previous year[40]. Cash Flow - The company reported a net cash flow from operating activities of CNY 4,049,520.35, compared to a negative cash flow of CNY 1,613,359.10 in the same period last year[6]. - Cash flow from financing activities generated a net inflow of 458,039,949.73 in the first nine months of 2020, compared to 2,936,000.00 in the same period of 2019[35]. - Cash inflow from investment activities was 306,978,425.55 in the first nine months of 2020, significantly higher than 26,958,074.19 in the same period of 2019[35]. - The net cash flow from investment activities was -467,803,422.29 for the first nine months of 2020, worsening from -29,128,015.39 in the same period of 2019[35]. - Operating cash flow for the first three quarters of 2020 was CNY 5,051,550.38, an increase from CNY 1,581,902.43 in the same period of 2019, representing a year-over-year growth of 219.5%[36]. Shareholder Information - The total number of shareholders reached 9,843 by the end of the reporting period[10]. - The largest shareholder, Zang Mu, holds 39.07% of the shares, totaling 52,096,834 shares[10]. - Shareholders' equity increased to approximately ¥772.05 million as of September 30, 2020, from ¥313.30 million at the end of 2019[24]. - The company’s total equity increased by 5.5% compared to the previous reporting period, driven by retained earnings growth[43]. Research and Development - Research and development expenses accounted for 21.05% of operating revenue, an increase of 5.89 percentage points compared to the previous year[6]. - Research and development expenses increased to CNY 19,096,167.00 in Q3 2020, up from CNY 13,289,072.33 in Q3 2019, reflecting a growth of approximately 43.7%[28]. - The company expects a potential net loss or significant fluctuation in cumulative net profit compared to the same period last year due to increased R&D investment and the impact of the pandemic on product acceptance and market promotion[15]. Accounting and Reporting Changes - The company implemented new revenue and leasing standards starting January 1, 2020, affecting the presentation of financial statements[39]. - The company adjusted the reporting of pre-received payments to contract liabilities, reflecting compliance with the new revenue recognition standards effective from January 1, 2020[44].