SM Micro(SH:688699)2022-10-30 16:00Financial Performance - The company's revenue for Q3 2022 was ¥140,201,440.74, representing a decrease of 69.04% compared to the same period last year[5] - The net profit attributable to shareholders was -¥34,131,468.54, a decline of 111.47% year-over-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥45,239,234.34, down 115.43% from the previous year[5] - Total operating revenue for the first three quarters of 2022 was CNY 538,580,702.88, a decrease of 49.8% compared to CNY 1,071,389,141.48 in the same period of 2021[18] - Net profit for the third quarter of 2022 was CNY 58,036,305.68, a decline of 90.3% from CNY 600,038,523.45 in the same quarter of 2021[19] - The total equity attributable to shareholders was CNY 1,574,208,351.28, a decrease of 6.7% from CNY 1,687,947,514.70 in the previous year[19] - The company reported a total comprehensive income of CNY 59,761,381.88 for the third quarter, down from CNY 599,856,656.26 in the same quarter of the previous year[20] - Basic and diluted earnings per share for the third quarter were CNY 0.53, a decrease from CNY 5.45 in the same period last year[20] Research and Development - Research and development expenses totaled ¥34,581,191.95, an increase of 48.20% compared to the same quarter last year[6] - R&D expenses accounted for 24.67% of revenue, up 19.51 percentage points year-over-year[6] - Research and development expenses for the third quarter reached CNY 93,522,223.57, an increase of 83.8% compared to CNY 50,886,820.21 in the same period last year[19] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date was -¥170,617,104.89, a decrease of 136.36% year-over-year[5] - Cash flow from operating activities for the first three quarters was CNY 412,284,081.18, a significant drop from CNY 1,053,758,898.50 in the same period of 2021[22] - The net cash flow from operating activities was -170,617,104.89, a significant decrease compared to 469,220,196.01 in the previous year[23] - Cash and cash equivalents at the end of the period totaled 254,006,747.28, down from 509,349,011.07 year-over-year[24] - The company experienced a net decrease in cash and cash equivalents of -655,087,848.68, contrasting with an increase of 44,521,871.87 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,752,098,288.36, a decrease of 7.14% from the end of the previous year[6] - Total current assets decreased to ¥1,335,256,334.94 from ¥1,533,956,520.85 year-over-year[14] - Total liabilities as of the third quarter of 2022 were CNY 177,889,937.08, down from CNY 198,767,979.37 at the end of the previous year[19] - Current liabilities decreased to ¥150,142,460.48 from ¥178,104,632.40, showing a reduction of about 16%[15] - Non-current assets increased to ¥416,841,953.42 from ¥352,758,973.22, reflecting a growth of approximately 18%[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,963[11] - The largest shareholder, Shenzhen Mingwei Technology Co., Ltd., holds 40.69% of shares, totaling 44,785,611 shares[11] - The company has a strategic placement of 1,375,808 shares by CITIC Securities, with a lock-up period of 24 months[12] Market Challenges - The company faced significant challenges due to macroeconomic factors such as the pandemic and geopolitical tensions, leading to decreased demand in the electronic market[8] - The company has maintained a cautious inventory depreciation policy, resulting in increased provisions for depreciation during the reporting period[9] Inventory and Accounts Receivable - Inventory increased significantly to ¥429,355,349.05 from ¥271,858,603.14, indicating a growth of approximately 58%[14] - The company reported a significant increase in accounts receivable, rising to ¥91,837,528.02 from ¥56,876,609.63, an increase of approximately 61%[14]