HIGHLY(SH:900910)2019-10-29 16:00Financial Performance - Net profit attributable to shareholders was ¥191.49 million, a decrease of 4.59% year-on-year[6]. - Operating revenue for the first nine months was ¥9.37 billion, down 2.93% from the same period last year[6]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was ¥172.54 million, down 8.75% year-on-year[6]. - Operating profit for the same period was 274.5164 million yuan, down 7.69% year-on-year[20]. - The company reported no significant changes in net profit expectations compared to the previous year[22]. - Net profit for Q3 2019 was CNY 33,922,392.92, a decrease of 31.69% compared to CNY 49,620,014.21 in Q3 2018[33]. - The company's net profit attributable to shareholders for Q3 2019 was ¥22,004,869.18, a decrease from ¥32,534,882.83 in Q3 2018, representing a decline of approximately 32.5%[34]. - Total revenue for Q3 2019 was CNY 2,540,747,127, a decrease of 4.67% compared to CNY 2,665,046,063 in Q3 2018[31]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥14.67 billion, an increase of 2.34% compared to the end of the previous year[6]. - The company's total assets as of Q3 2019 were reported at ¥1,692,866,483.11, an increase from ¥569,806,848.67 in the same period of 2018, representing a growth of approximately 196.5%[37]. - Total current liabilities decreased to CNY 8.33 billion from CNY 8.45 billion, a decline of about 1.3%[26]. - The company's long-term borrowings decreased significantly to CNY 69.31 million from CNY 191.82 million, a reduction of approximately 63.9%[26]. - Total liabilities increased to CNY 3,306,112,152.22, up from CNY 1,586,727,644.46 at the end of 2018, representing a growth of 108.36%[30]. - Current liabilities totaled approximately $1.56 billion, reflecting a decrease of $13,152.00[53]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥225.99 million, a significant recovery from a negative cash flow of ¥96.71 million in the previous year[6]. - Cash inflow from operating activities totaled CNY 7.60 billion, while cash outflow was CNY 7.37 billion, resulting in a net cash flow of CNY 225.99 million[41]. - The company's cash flow from operating activities showed a significant improvement, with net cash inflow reported for Q3 2019 compared to outflow in Q3 2018[38]. - Investment activities generated a net cash outflow of CNY 406.90 million, compared to a larger outflow of CNY 540.32 million in the same period of 2018[42]. - Cash flow from financing activities showed a net outflow of CNY 407.41 million, contrasting with a net inflow of CNY 210.59 million in the same period of 2018[42]. Shareholder Information - The total number of shareholders at the end of the reporting period was 51,350, with the largest shareholder holding 24.44% of the shares[11]. - The controlling shareholder, Shanghai Electric Group Corporation, increased its stake by acquiring 20,661,113 shares, representing 2.38% of the total share capital[21]. - The total equity attributable to shareholders increased to CNY 4.41 billion from CNY 4.36 billion, reflecting a growth of about 1.3%[26]. Research and Development - The company’s development expenditure increased by 219.89% compared to the beginning of the year, reflecting new capitalized R&D projects[14]. - The company reported a research and development expense of CNY 108,070,374.93 for Q3 2019, an increase of 13.83% compared to CNY 94,894,931.80 in Q3 2018[33]. Market Performance - The company sold 5.2368 million rotary compressors during the reporting period, a slight increase of 0.08% year-on-year, with a cumulative sales of 20.6774 million units, up 5.24%[20]. - The company achieved sales of 623.74 million electric motors, a decrease of 2.07% year-on-year, with a cumulative sales of 2.27047 million units, an increase of 3.96%[20]. - The sales of automotive electric scroll compressors reached 62,700 units, a significant increase of 161.95% year-on-year, with a cumulative sales of 140,400 units, up 148.11%[20]. Government Support - Government subsidies recognized amounted to ¥31.45 million, primarily from deferred income[9]. Changes in Accounting Standards - As of January 1, 2019, the company adopted new accounting standards affecting financial instruments, revenue recognition, and leases, impacting various financial statement items[49]. - The company has adopted new financial instrument standards effective January 1, 2019, impacting various financial reporting aspects[54].