HIGHLY(SH:900910)2020-10-30 16:00Financial Performance - Net profit attributable to shareholders decreased by 62.20% to CNY 72.39 million year-on-year[7] - Operating revenue declined by 21.03% to CNY 7.40 billion for the period[7] - Basic earnings per share decreased by 63.64% to CNY 0.08[7] - The weighted average return on equity fell by 2.73 percentage points to 1.63%[7] - The company reported a significant decrease in net profit from recurring operations, down 88.12% to CNY 20.50 million[7] - Total revenue for the year-to-date was ¥739,628.49 million, a decline of 21.03% year-on-year, with net profit attributable to shareholders down 62.20% to ¥7,239.20 million[25] - The company reported a total profit for the first three quarters of 2020 was ¥190,326,021.38, down from ¥299,705,935.68 in the same period of 2019, a decline of about 36.5%[41] - The company's net profit for the first three quarters of 2020 was CNY 501,035,898.37, compared to CNY 469,703,922.89 in the same period of 2019, showing an increase of 6.65%[37] Cash Flow and Liquidity - Net cash flow from operating activities dropped by 594.05% to -CNY 1.12 billion compared to the same period last year[7] - The company reported a net cash outflow from operating activities of ¥1,116,478,860.20, a 594.05% increase in net outflow compared to the same period last year[23] - The cash inflow from operating activities for the first three quarters of 2020 was 7,405,693,679.88 RMB, while cash outflow was 8,522,172,540.08 RMB, leading to a negative cash flow[44] - The net cash flow from operating activities was -$76,987,628.25, compared to -$70,453,195.71 in the previous year, indicating a decline in operational performance[47] - The total cash outflow from operating activities was $1,534,455,910.49, significantly higher than $260,832,162.37 in the previous year[47] Assets and Liabilities - Total assets increased by 4.53% to CNY 14.57 billion compared to the end of the previous year[7] - As of September 30, 2020, the company's total assets amounted to approximately CNY 14.57 billion, an increase from CNY 13.94 billion at the end of 2019[30] - Total liabilities increased to approximately CNY 9.24 billion from CNY 8.46 billion at the end of 2019[33] - The company's equity attributable to shareholders decreased to approximately CNY 4.40 billion from CNY 4.51 billion at the end of 2019[33] - The company's total assets decreased to CNY 7,258,305,663.56 as of September 30, 2020, down from CNY 7,568,781,808.45 at the end of 2019[36] Shareholder Information - The total number of shareholders reached 48,347, with the top ten shareholders holding a combined 58.48% of shares[11] - Shanghai Electric Group Company holds the largest share at 23.97%[11] - As of October 20, 2020, a major shareholder reduced their stake by 660,300 shares, representing 0.07% of the total share capital[27] Investment and Expenditures - The company’s development expenditures increased by 114.37% to ¥60,492,048.15, primarily for new energy-efficient projects[16] - The company plans to acquire 60% of Marelli Corporation's assets and business related to automotive air conditioning systems, as approved by the board and shareholders[26] - The company has terminated the issuance of convertible bonds previously approved, citing changes in market conditions and its strategic considerations, with no adverse impact on operations expected[26] Other Income and Expenses - Non-operating income for the period totaled CNY 18.75 million, down from CNY 51.89 million in the previous year[10] - The company’s other income increased by 96.64% to ¥61,362,541.35, mainly due to increased government subsidies amid the pandemic[21] - The company's management expenses for Q3 2020 were ¥22,929,895.46, significantly higher than ¥7,177,469.88 in Q3 2019, indicating an increase of about 219.5%[41] - The financial expenses for Q3 2020 were ¥13,727,944.08, compared to ¥10,875,789.19 in Q3 2019, an increase of approximately 26.9%[41]