VEICHI(SH:688698)2021-10-26 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥201,465,837.71, representing a year-over-year increase of 28.24%[5] - The net profit attributable to shareholders for Q3 2021 was ¥34,476,515.52, reflecting a 47.67% increase compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥28,067,865.36, up by 29.79% year-over-year[5] - Total operating revenue for Q3 2021 reached ¥615,911,161.47, a significant increase of 47% compared to ¥419,294,553.50 in Q3 2020[32] - Net profit for Q3 2021 was ¥100,477,556.45, compared to ¥73,964,805.99 in Q3 2020, representing a growth of approximately 36%[35] - The company’s total comprehensive income attributable to shareholders was ¥100,480,677.53, compared to ¥74,761,547.48 in Q3 2020, showing an increase of 34%[38] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥1,241,609,832.17, a 15.44% increase from the end of the previous year[7] - The total assets as of Q3 2021 were ¥1,241,609,832.17, compared to ¥1,075,519,515.59 in Q3 2020, showing an increase of 15%[32] - Total liabilities increased to ¥399,269,492.16 in Q3 2021 from ¥312,449,853.11 in Q3 2020, marking a rise of 28%[32] - The equity attributable to shareholders of the parent company reached ¥841,726,993.28, up from ¥763,069,662.48 in Q3 2020, reflecting a growth of 10%[32] Research and Development - The company's R&D investment for Q3 2021 was ¥18,993,273.25, which accounted for 9.43% of operating revenue, a decrease of 1.58 percentage points year-over-year[7] - Research and development expenses for the year-to-date reached CNY 51.59 million, a 41.37% increase from the previous year, with 294 R&D personnel, representing 30.28% of total staff[23] - The company added 22 new patents (including 9 invention patents) during the reporting period, bringing the total to 119 valid patents (27 of which are invention patents)[23] - Research and development expenses in Q3 2021 amounted to ¥51,592,644.77, an increase from ¥36,495,349.16 in Q3 2020, indicating a 41% rise[35] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥12,171,854.54, indicating a negative cash flow situation[5] - Operating cash inflow for the first three quarters of 2021 was CNY 304,475,413.04, an increase from CNY 225,465,915.07 in the previous year, representing a growth of approximately 35%[41] - Net cash flow from operating activities for the first three quarters of 2021 was negative CNY 12,171,854.54, a decline from positive CNY 33,823,349.92 in the same period of 2020[41] - Cash inflow from investment activities in the third quarter of 2021 was CNY 443,936,855.21, significantly higher than CNY 198,588,816.66 in the previous year[45] - Net cash flow from investment activities for the third quarter of 2021 was negative CNY 363,100,671.47, compared to positive CNY 4,561,392.31 in the same period of 2020[45] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,150, with the largest shareholder holding 69.44% of the shares[15] Revenue Breakdown - For the first nine months of 2021, the company achieved operating revenue of CNY 615.91 million, a year-on-year increase of 46.89% driven by sales growth in frequency converters, servo systems, and control systems[22] - Main business revenue for the same period was CNY 596.64 million, accounting for 96.87% of total revenue, with domestic revenue at CNY 544.91 million (up 45.36%) and overseas revenue at CNY 51.73 million (up 44.43%) compared to the previous year[22] - The company reported revenue from general products of CNY 163.22 million (up 23.00%), industry-specific machinery products of CNY 288.82 million (up 41.25%), and servo systems and control systems of CNY 141.28 million (up 96.83%) year-on-year[22] Current Assets - As of September 30, 2021, the company's total current assets were CNY 952.43 million, slightly down from CNY 962.72 million at the end of 2020[27] - Cash and cash equivalents decreased to CNY 91.14 million from CNY 518.91 million at the end of 2020[27] - Accounts receivable increased to CNY 261.61 million from CNY 143.77 million year-on-year[27] - Inventory rose to CNY 221.49 million, up from CNY 147.21 million at the end of 2020[27] Market Strategy - The company attributed the revenue growth to increased sales of frequency converters, servo systems, and control systems, as well as active development of new products and expansion into overseas markets[11] - The company continues to focus on expanding overseas markets and developing new products to sustain revenue growth[22]