HIG(SZ:000548)2021-10-28 16:00Financial Performance - Operating revenue for Q3 2021 was CNY 93,567,116.07, a decrease of 14.05% year-on-year[3] - Net profit attributable to shareholders was CNY 7,715,094.05, down 64.73% compared to the same period last year[3] - The basic earnings per share for Q3 2021 was CNY 0.02, a decline of 100.00% year-on-year[3] - Net profit decreased by 47.02% to CNY 37.95 million, mainly due to the absence of equity investment income from subsidiaries in the current period[9] - The net profit for the third quarter of 2021 was CNY 37,946,140.56, a decrease of 47.1% compared to CNY 71,629,871.09 in the same period last year[24] - Operating profit for the third quarter was CNY 55,167,252.56, down 31.7% from CNY 80,728,073.32 year-over-year[24] - Total profit for the quarter amounted to CNY 55,799,795.39, a decline of 31.5% compared to CNY 81,381,237.20 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,723,515,546.18, an increase of 20.31% from the end of the previous year[3] - The total assets reached CNY 2,723,515,546.18, an increase of 20.3% compared to CNY 2,263,688,970.09[22] - The total liabilities amounted to CNY 901,647,263.04, significantly higher than CNY 469,782,511.29, indicating a rise of 92.0%[22] - The company’s non-current liabilities totaled CNY 469,353,064.04, a substantial increase from CNY 1,290,824.37[22] - The company’s retained earnings increased to CNY 711,756,992.61 from CNY 683,795,168.27, reflecting a growth of 4.1%[22] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 392,488,417.81 for the year-to-date[3] - The net cash flow from operating activities worsened by 171.49% to -CNY 392.49 million, reflecting ongoing operational challenges[10] - Cash inflow from operating activities totaled CNY 321,736,928.27, compared to CNY 233,819,082.40 in the previous year, reflecting a 37.5% increase[26] - Cash outflow from operating activities was CNY 714,225,346.08, significantly higher than CNY 378,387,618.94 in the same period last year[26] - The company reported cash and cash equivalents at the end of the period of CNY 409,366,298.24, down from CNY 247,005,584.49 year-over-year[27] Inventory and Receivables - Accounts receivable decreased by 50.67% to CNY 8,962,172.79 due to the recovery of receivables[8] - Inventory increased by 60.52% to CNY 1,174,551,356.00, primarily due to expenditures on the Guangrun Fuyuan real estate project[8] - The inventory value increased to CNY 1,174,551,356.00, up from CNY 731,724,806.02, reflecting a growth of 60.5%[20] Expenses - Operating costs decreased by 30.13% to CNY 137.40 million, primarily due to the previous year's cost recognition from the Liuyang Wealth New City project[9] - Tax and additional fees dropped by 49.03% to CNY 7.24 million, as there were no land value-added tax payments this period[9] - Sales expenses fell by 56.36% to CNY 5.56 million, attributed to the new revenue recognition standards affecting expense categorization[9] - Financial expenses increased significantly to CNY 11.66 million, as the current period incurred loan interest expenses, unlike the previous year[9] Project Developments - The company completed 100% of the indoor waterproofing work and 60% of the outdoor waterproofing for the hotel renovation project[17] - The company has made significant progress in the construction of the Guangrun Fuyuan real estate project, with multiple building structures at various stages of completion[16] - The Liuyang Wealth New City project is actively pursuing external investment to reduce vacancy rates and recover funds[14] Other Financial Metrics - The company recorded asset disposal gains of CNY 802,765.97, compared to CNY 57,312.00 in the previous year[24] - The company did not report any net profit from subsidiaries prior to consolidation, indicating no significant changes in this area[25]