ST易购(002024) - 2021 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2021 was CNY 21,968,102, a decrease of 64.82% year-on-year[2]. - The net profit attributable to shareholders for Q3 2021 was a loss of CNY 4,116,177, representing a decline of 676.73% compared to the same period last year[2]. - The company reported a net cash flow from operating activities of CNY -4,455,609, a decline of 83.43% year-on-year[2]. - The company experienced a 67.01% year-on-year decrease in asset impairment losses due to a reduction in inventory write-down provisions[10]. - The company reported a 141.31% increase in credit impairment losses year-on-year due to higher provisions for receivables[10]. - Other income decreased by 48.98% year-on-year, primarily due to a reduction in government subsidies received[10]. - The company's net profit loss led to a year-on-year decrease in income tax expenses by 2189.27%[11]. - The company's revenue for the year 2018 was 244.957 billion RMB, with a year-on-year growth of 30.35%[26]. - Net profit for the current period is -8,115,552 thousand yuan, compared to a net profit of -75,494 thousand yuan in the previous period[52]. - Basic earnings per share for the current period is -0.8205 yuan, compared to 0.0599 yuan in the previous period[53]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 209,644,094, a decrease of 1.15% from the end of the previous year[3]. - As of September 30, 2021, cash and cash equivalents decreased by 33.00% to CNY 17,345,843,000 due to a decline in sales during the reporting period[12]. - Accounts receivable decreased by 95.85% to CNY 70,467,000, primarily due to the maturity of receivables during the reporting period[12]. - The total current assets as of September 30, 2021, were 79,947,058,000 CNY, a decrease from 107,483,606,000 CNY as of December 31, 2020[48]. - The total liabilities as of September 30, 2021, were 141,174,257,000 CNY, compared to 135,243,397,000 CNY as of December 31, 2020[49]. - The total equity attributable to the parent company decreased to 69,061,056,000 CNY from 76,857,447,000 CNY year-over-year[50]. - The company's total assets as of September 30, 2021, were 209,644,094,000 CNY, slightly down from 212,075,200,000 CNY as of December 31, 2020[50]. - Total liabilities increased from CNY 135.24 billion to CNY 168.58 billion, an increase of CNY 33.34 billion[60]. - Non-current liabilities rose significantly from CNY 10.64 billion to CNY 39.09 billion, an increase of CNY 28.45 billion[60]. Cash Flow - The net cash flow from operating activities decreased by 83.43% year-on-year to CNY -4,455,609,000, mainly due to the company's profit loss[13]. - The net cash flow from investment activities increased by 399.23% year-on-year to CNY 6,931,140,000, influenced by the implementation of light asset operations in logistics and warehousing[14]. - The company’s financing activities generated a net cash flow of CNY -8,467,626,000, a year-on-year decrease of 181.07% due to the repayment of maturing corporate bonds and bank debts[14]. - Cash inflow from operating activities is 159,283,001 thousand yuan, a decrease of 28.8% from 223,562,168 thousand yuan in the previous period[54]. - The net cash flow from financing activities was -CNY 8.47 million, worsening from -CNY 3.01 million in the previous period, indicating a decline of 181.5%[56]. Investments and Projects - The total amount of committed investment projects is CNY 29,343,213.4 thousand, with a cumulative investment of CNY 28,319,719.4 thousand, achieving a progress rate of 97.37%[31]. - The automated sorting center project has a total committed investment of CNY 2,505,120.4 thousand, with 100% completion as of September 30, 2021[29]. - The regional distribution center construction project has a total committed investment of CNY 2,728,332.8 thousand, also achieving 100% completion[29]. - The logistics operation business development project has a total committed investment of CNY 3,500,000.0 thousand, with a cumulative investment of CNY 1,532,689.0 thousand, reaching 100% completion[29]. - The company has completed the investment of CNY 1,100,438.5 thousand in the cloud computing project, achieving 100% completion[30]. Employee Stock Ownership Plan - The total number of shares held by the employee stock ownership plan as of September 30, 2021, is 65,919,578 shares, accounting for 0.71% of the company's total share capital[22]. - The employee stock ownership plan sold 902,500 shares during the first three quarters, which is 0.0097% of the total share capital[25]. - The company confirmed management expenses of 0.25 billion RMB related to the employee stock ownership plan for the first three quarters of 2021[28]. - The employee stock ownership plan's funding sources include employees' self-raised funds and legal loans[22]. - The employee stock ownership plan can sell up to 40% of its shares within 12 months after the lock-up period if performance targets are met[25]. Strategic Focus - The company aims to significantly reduce operational losses in Q4 2021 compared to Q3 and strives for positive monthly EBITDA by year-end[10]. - The company is focusing on enhancing its online and offline integration to improve profitability in a competitive environment[40]. - The company is investing in cloud computing and big data projects to support its internet transformation and provide strong IT support for sustainable growth[41]. - The company plans to enhance logistics capabilities through the logistics operation development project, which is expected to improve service efficiency and reduce operational costs[38]. - The company aims to reduce outsourcing transportation costs and improve delivery efficiency through the logistics transportation development project[38].