Puya semiconductor(SH:688766)2022-10-27 16:00Financial Performance - The company reported a revenue of CNY 194.32 million for the third quarter, a decrease of 37.73% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 34.81 million, down 68.12% year-on-year; net profit after deducting non-recurring gains and losses was CNY 120,161.56, a decline of 99.89%[9]. - Basic earnings per share were CNY 0.69, down 73.45% year-on-year, while diluted earnings per share were CNY 0.68, down 73.56%[8]. - The company's revenue for the reporting period decreased by 37.73% compared to the same period last year, primarily due to reduced downstream market demand affected by the pandemic and a downturn in the semiconductor industry cycle[17]. - The net profit attributable to shareholders for the reporting period was down by 68.12%, influenced by a decline in revenue and increased R&D expenses, which rose by 72.80% year-on-year[17]. - The net profit attributable to shareholders for the year-to-date period also showed a decline of 37.95% compared to the previous year[17]. - Basic earnings per share for the reporting period were -73.45 yuan, reflecting the decline in net profit compared to the previous year[17]. - Operating revenue for the first three quarters of 2022 was CNY 763.73 million, a decrease of 7.29% compared to CNY 823.67 million in the same period of 2021[39]. - Net profit for the first three quarters of 2022 was CNY 138.21 million, down 38.0% from CNY 222.73 million in the same period of 2021[40]. - The company’s total profit for the first three quarters of 2022 was CNY 145.45 million, a decrease of 32.3% from CNY 214.81 million in the same period of 2021[39]. Research and Development - The company’s R&D investment totaled CNY 42.29 million in the quarter, an increase of 72.80% year-on-year, representing 21.76% of revenue, up 13.92 percentage points[8]. - The company has expanded its R&D team significantly, leading to increased employee compensation and related expenses[9]. - Total R&D investment for the reporting period increased by 72.80%, driven by a growing R&D team and higher personnel costs[17]. - Research and development expenses increased significantly to CNY 109.50 million, up 84.7% from CNY 59.30 million in the same period of 2021[39]. - The company is focusing on expanding its R&D capabilities and developing new products to enhance its market position[17]. Cash Flow and Assets - The net cash flow from operating activities was CNY -195.44 million for the year-to-date, a decrease of 221.63% compared to the previous year[8]. - The net cash flow from operating activities for the year-to-date period was -221.63 million, mainly due to delayed payments from customers and increased inventory purchases[17]. - The company reported a net cash outflow from operating activities of CNY -195.44 million, compared to a net inflow of CNY 160.68 million in the same period of 2021[42]. - Cash and cash equivalents at the end of the period were CNY 1.18 billion, down from CNY 1.48 billion at the end of the same period in 2021[42]. - The company's cash and cash equivalents decreased to approximately ¥1.18 billion from ¥1.46 billion, representing a decline of 19.1%[32][35]. - Accounts receivable increased to approximately ¥268.13 million, up 33.9% from ¥200.22 million in the previous year[35]. - Inventory surged to approximately ¥594.53 million, a significant increase of 164.4% compared to ¥225.46 million at the end of 2021[35]. - The total liabilities rose to approximately ¥232.49 million, compared to ¥92.80 million in the previous year, marking an increase of 150.5%[36]. - The company's total equity reached approximately ¥2.05 billion, up from ¥1.93 billion, reflecting a growth of 5.9%[36]. - The company's long-term assets increased to approximately ¥129.78 million, up from ¥103.88 million, indicating a growth of 24.9%[35]. Taxation and Shareholder Information - The effective income tax rate increased to 10% starting in 2022, impacting net profit compared to the previous year when there was a tax exemption[9]. - The company began applying a 10% corporate income tax rate in 2022, which impacted the net profit compared to the previous year's tax exemption[17]. - The number of ordinary shareholders at the end of the reporting period was 5,234, with the top ten shareholders holding significant stakes[20]. - The largest shareholder, Wang Nan, held 9,499,377 shares, representing 18.73% of the total shares[20]. Other Financial Metrics - The weighted average return on equity decreased to 1.71%, down 9.50 percentage points year-on-year[8]. - Sales expenses increased to CNY 19.56 million, up 25.5% from CNY 15.63 million in the same period of 2021[39]. - The company’s financial expenses showed a significant increase, with interest expenses rising to CNY 146.45 thousand from CNY 52.61 thousand in the same period of 2021[39]. - The company announced a delay in the completion of its fundraising projects from January 2023 to December 2024, without changing the investment scale[30]. - The company has reserved 70,000 shares for its stock incentive plan, which has now expired due to the lack of designated recipients within 12 months[29].