Bestechnic (Shanghai) (SH:688608)2021-10-26 16:00Financial Performance - The company's revenue for Q3 2021 reached ¥497,829,648.96, representing a year-over-year increase of 50.22%[3] - Net profit attributable to shareholders for Q3 2021 was ¥104,947,843.39, up 54.05% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥73,551,209.23, reflecting a 9.93% increase year-over-year[3] - Net profit attributable to shareholders of the parent company for the third quarter of 2021 was ¥294,033,708.77, up from ¥117,001,333.82 in the same quarter of 2020, marking an increase of approximately 151.0%[19] - Total operating revenue for the first three quarters of 2021 reached ¥1,231,234,136.46, a significant increase from ¥669,250,690.81 in the same period of 2020, representing an increase of approximately 83.8%[17] - Operating profit for the third quarter of 2021 was ¥296,383,466.63, compared to ¥116,828,316.76 in the same quarter of 2020, reflecting an increase of about 153.3%[18] - Basic earnings per share for Q3 2021 were ¥0.8746, an increase of 15.55% year-over-year[5] - Basic earnings per share for the third quarter of 2021 were ¥2.4503, compared to ¥1.3000 in the same quarter of 2020, indicating a growth of about 88.5%[20] - The total comprehensive income for the third quarter of 2021 was ¥293,909,905.17, compared to ¥116,867,270.28 in the same quarter of 2020, indicating an increase of approximately 151.0%[19] Research and Development - Research and development expenses totaled ¥89,876,239.04 in Q3 2021, marking a significant increase of 101.27% compared to the same period last year[5] - The proportion of R&D expenses to revenue was 18.05%, an increase of 4.58 percentage points year-over-year[5] - Research and development expenses for the first three quarters of 2021 totaled ¥204,873,160.56, compared to ¥126,470,249.90 in the same period of 2020, an increase of approximately 62.0%[18] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥6,202,237,040.13, a 7.60% increase from the end of the previous year[5] - The total assets as of the end of the third quarter of 2021 were ¥6,202,237,040.13, compared to ¥5,764,322,483.07 at the end of the same period in 2020, reflecting an increase of about 7.6%[16] - The company's total liabilities as of September 30, 2021, amount to ¥386,285,441.98, an increase of 57.7% from ¥244,690,888.53 at the end of 2020[15] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥418,591,942.76, up from ¥268,536,156.51 at the end of the same period in 2020, reflecting an increase of approximately 55.9%[16] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥1,611,669,185.53, a decrease of 49.9% from ¥3,208,270,334.20 at the end of 2020[14] - The accounts receivable increased to ¥235,843,724.81 as of September 30, 2021, compared to ¥81,591,869.17 at the end of 2020, reflecting a growth of 188.5%[14] - The inventory as of September 30, 2021, is ¥472,596,821.00, up from ¥168,312,964.35 at the end of 2020, indicating an increase of 180.5%[14] - The total liabilities rose to 277,905,989.74 RMB, up from 268,536,156.51 RMB at the end of the previous year[26] Cash Flow - The company reported a net cash flow from operating activities of -¥66,718,961.13 for the year-to-date period, reflecting a decline of 144.84%[5] - Cash inflow from operating activities for the first three quarters of 2021 was ¥1,284,906,884.89, significantly higher than ¥732,786,386.42 in the same period of 2020, representing an increase of about 75.5%[21] - The net cash flow from operating activities was -66,718,961.13 RMB, a decrease compared to 148,803,303.74 RMB in the same quarter last year[23] - Total cash inflow from investment activities was 7,631,229,287.55 RMB, significantly higher than 542,725,832.88 RMB in the previous year[23] - The net cash flow from investment activities was -1,458,907,810.31 RMB, compared to -14,627,177.86 RMB in the same quarter last year[23] - Cash and cash equivalents at the end of the period totaled 1,611,669,185.53 RMB, down from 3,208,270,334.20 RMB at the beginning of the year[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,829[12] - The top ten shareholders hold a total of 56,000,000 shares, representing approximately 46.1% of the total shares[12] - The company has no preferred shareholders with restored voting rights at the end of the reporting period[12] Compliance and Standards - The company implemented a new leasing standard starting from January 1, 2021, affecting the financial statements[24] - The company recorded a foreign exchange impact on cash and cash equivalents of -6,370,201.74 RMB during the quarter[23] - The company implemented the new leasing standard effective January 1, 2021, as per the Ministry of Finance's announcement in 2018[27] - Adjustments were made to relevant financial statement items in accordance with the new accounting standards[27] - The announcement was made by the Board of Directors of Hengxuan Technology (Shanghai) Co., Ltd. on October 26, 2021[27] - The report indicates compliance with the new accounting standards for leases[27] - The adjustments are part of the company's ongoing efforts to align with regulatory requirements[27] - The financial impact of the new leasing standard on the company's financial statements was not detailed in the report[27] - The company continues to monitor the implications of the new standards on its financial performance[27] - The report does not provide specific performance metrics or future guidance[27] - No new products, technologies, or market expansion strategies were mentioned in this report[27] - The focus of the report is primarily on compliance with accounting standards rather than operational performance[27]