Sinocat(SH:688737)2022-10-27 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥115,795,813.27, representing a year-on-year increase of 0.87%[5] - The net profit attributable to shareholders was -¥19,942,995.04, a decrease of 334.83% compared to the same period last year[5] - The total operating revenue of CNY 310,585,980.27 for the first three quarters of 2022, a decrease of 58.0% compared to CNY 739,609,598.79 in the same period of 2021[23] - The company incurred a net loss of CNY 53,635,041.23 in the first three quarters of 2022, compared to a net profit of CNY 22,966,845.98 in the same period of 2021, representing a significant decline[24] - The basic earnings per share for the reporting period was -¥0.23, with a year-to-date figure of -¥0.61, a decrease of 274.29%[6] - The weighted average return on equity was -1.03%, a decrease of 6.66 percentage points year-on-year[6] Assets and Cash Flow - The total assets at the end of the reporting period were ¥2,140,635,452.05, reflecting a decrease of 6.42% from the end of the previous year[6] - The company's cash and cash equivalents decreased to CNY 458,133,994.19 as of September 30, 2022, from CNY 848,227,912.56 at the end of 2021, a reduction of 46.0%[21] - The cash inflow from operating activities in Q3 2022 was -CNY 103,723,598.56, compared to a positive cash flow of CNY 221,722,276.58 in Q3 2021[28] - The total cash inflow from investment activities in Q3 2022 was CNY 2,229,708,656.71, significantly higher than CNY 51,456.00 in Q3 2021[28] - The net cash flow from investment activities for Q3 2022 was -CNY 173,190,850.50, compared to -CNY 54,415,752.83 in Q3 2021[28] - The total cash and cash equivalents at the end of Q3 2022 were CNY 442,123,374.20, compared to CNY 46,758,704.50 at the end of Q3 2021[28] Research and Development - Research and development expenses totaled ¥22,140,306.23, accounting for 19.12% of operating revenue, an increase of 2.84 percentage points year-on-year[6] - The company has completed the construction and optimization of laboratories for both lithium and sodium battery projects, indicating a strong focus on R&D[17] - The company reported a significant increase in research and development expenses, totaling CNY 61,336,655.88 for the first three quarters of 2022, compared to CNY 53,554,145.39 in the same period of 2021[24] - The company completed the development of long-life large cylindrical lithium iron phosphate batteries, with the first batch of button batteries offline and tested by the end of September 2022[17] - The sodium battery project has also been initiated, with the first batch of button batteries completed and undergoing third-party testing, aiming for custom development by the end of the year[17] - The company has made progress in establishing a solid-state battery development team and is currently validating oxide solid electrolyte powder[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,484[13] - The company’s major shareholder, Chen Qizhang, holds 32.39% of the shares, while other significant shareholders include Nanjing Yinganling Ying New Energy Industry Investment Fund with 6.52%[14] - The strategic investor, Shenwan Hongyuan Securities, holds 2,039,492 shares through a collective asset management plan[15] Business Initiatives and Projects - The company established a new energy storage and power division on July 1, 2022, to accelerate the implementation of new business initiatives[16] - The company signed a strategic cooperation agreement with Qingdao Nengfeng Electric Co., Ltd. to develop the commercial energy storage and overseas household storage markets[18] - The "New Catalyst Intelligent Manufacturing Park Project" has been delayed due to COVID-19 and other factors, with the new expected completion date set for March 2023[18] - The company has completed the design and equipment selection for the 10MWh battery cell pilot line, with site selection and renovation plans confirmed[18] - The solid-state battery material pilot line is currently undergoing equipment procurement and debugging, expected to be operational by the end of 2022[18] Other Information - The company experienced a significant decline in government subsidies, impacting net profit for the reporting period[11] - The company has not yet disclosed the number of environmental information announcements related to the National VI emission standards due to a lack of supplier information[16] - The company did not apply new accounting standards for the first time in 2022[29] - The company’s management team includes Chen Qizhang as the responsible person, Gong Wenxu as the accounting supervisor, and Dai Huarong as the head of the accounting institution[26]