XIIC(SZ:000159)2020-10-28 16:00Financial Performance - Operating revenue for the reporting period was CNY 201,887,007.14, representing a year-on-year increase of 24.17%[7] - Net profit attributable to shareholders was a loss of CNY 3,002,840.06, a decrease of 86.81% compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,609,133.71, an increase of 143.22% year-on-year[7] - Basic earnings per share were -CNY 0.0063, a decrease of 86.71% year-on-year[7] - The weighted average return on net assets was -0.12%, an increase of 0.93 percentage points compared to the previous year[7] - The company reported a net profit for Q3 2020 of CNY 61,563,720.98, a significant recovery from a net loss of CNY 14,436,692.29 in the same period last year, marking a turnaround of over 526%[49] - The total comprehensive income for the period was CNY 30,939,454.81, compared to CNY 2,792,553.42 in the previous year, showing a substantial increase[50] - The company recorded a profit before tax of CNY 69,394,829.25, a significant improvement from a loss of CNY 17,322,764.53 in the same quarter last year[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,767,030,442.10, a decrease of 1.78% compared to the end of the previous year[7] - Cash and cash equivalents decreased by 51.70% to ¥68,103,807.69 due to loan repayments and increased advance payments[15] - Accounts receivable increased by 55.30% to ¥22,821,633.44 primarily due to an increase in credit sales[15] - Prepayments rose by 136.00% to ¥74,739,900.39, mainly due to goods purchased but not yet delivered at the end of the quarter[15] - The company's total liabilities decreased to CNY 1,335,032,407.77 from CNY 1,388,711,681.75, reflecting a decline of approximately 3.9%[31] - The total current liabilities decreased to CNY 218,000,000.00 from CNY 314,000,000.00, a decline of approximately 30.6%[32] - The company's inventory slightly decreased to CNY 715,591,632.57 from CNY 728,845,005.14, a reduction of about 1.8%[31] Cash Flow - The net cash flow from operating activities was CNY 3,851,116.00, an increase of 114.76% compared to the same period last year[7] - The net cash flow from operating activities was -41,610,158.21 CNY, an improvement from -156,945,188.19 CNY in the previous period, indicating a significant reduction in cash outflow[57] - Total cash inflow from investment activities reached 453,081,571.98 CNY, compared to 22,942,763.16 CNY in the previous period, showing a substantial increase in investment recovery[58] - The net cash flow from financing activities was -145,604,565.51 CNY, a decline from a positive net cash flow of 141,962,814.51 CNY in the previous period, reflecting increased debt repayments[58] - The total cash and cash equivalents at the end of the period were 67,360,319.74 CNY, down from 123,485,926.40 CNY in the previous period, indicating a decrease in liquidity[58] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,988[11] - The largest shareholder, Qiantai Zhongsheng Equity Investment Co., Ltd., held 23.67% of the shares, amounting to 113,781,316 shares[11] Investment and Expenses - Investment income surged by 279.06% to ¥154,008,014.58, driven by increased gains from securities sales and equity method investments[16] - Development expenses increased by 35.40% to ¥17,490,739.01, primarily due to higher spending on online video education research and development[15] - The company’s financial expenses rose by 77.73% to ¥27,678,985.89, attributed to exchange losses and higher interest rates on certain borrowings[15] - The company reported a significant decrease in financial expenses, totaling CNY 27,678,985.89, compared to CNY 15,573,388.24 in the previous year, which is an increase of approximately 77%[49] Operational Efficiency - The company’s management indicated a focus on improving operational efficiency and reducing costs in future quarters[48]