Star-net(SZ:002396)2022-10-27 16:00Financial Performance - The company's revenue for Q3 2022 was ¥4,123,548,783.15, representing a 5.61% increase compared to ¥3,904,385,916.30 in the same period last year[7] - Net profit attributable to shareholders was ¥238,973,167.52, a 5.07% increase from ¥229,775,278.30 year-on-year[7] - The basic earnings per share for Q3 2022 was ¥0.4097, up 5.08% from ¥0.3939 in the same quarter last year[7] - Total operating revenue for the period reached ¥10,819,108,314.40, an increase of 17.7% compared to ¥9,191,186,059.28 in the previous period[38] - Net profit attributable to the parent company increased to ¥3,967,320,176.17, compared to ¥3,475,073,737.30 in the previous period, marking a growth of 14.2%[37] - The net profit for the current period is 831,868,598.09, an increase from 682,136,772.03 in the previous period, representing a growth of approximately 22%[40] - The total comprehensive income for the current period is 836,117,929.36, compared to 679,868,981.89 in the previous period, marking an increase of around 23%[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,634,937,405.55, reflecting a 22.58% increase from ¥11,122,958,343.17 at the end of the previous year[7] - The total liabilities increased to ¥7,159,904,277.45, up 30.9% from ¥5,470,682,227.01 year-over-year[37] - The equity attributable to shareholders was ¥5,211,925,744.50, which is an 11.06% increase from ¥4,692,754,421.68 at the end of the previous year[7] - The total current assets amounted to CNY 10,603,791,074.11, an increase from CNY 8,502,412,204.31 on January 1, 2022, representing a growth of approximately 24.7%[30] - The total non-current assets were valued at CNY 2,074,000,000.00, showing a growth from the previous period[30] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥71,076,966.67, a significant decrease of 56.44% compared to ¥163,153,558.42 in the same period last year[7] - Cash flow from operating activities showed a net outflow of -71,076,966.67, an improvement from -163,153,558.42 in the previous period[44] - The cash flow from financing activities resulted in a net inflow of 983,006,647.16, compared to 253,938,315.32 in the previous period, reflecting a growth of approximately 287%[47] Investments and Expenses - R&D expenses increased by 41.90% to ¥1,484,876,578.63 reflecting the company's commitment to steady growth[18] - Research and development expenses were ¥1,484,876,578.63, reflecting a significant increase of 42% from ¥1,046,392,445.32 year-over-year[38] - The company received government subsidies amounting to ¥38,201,489.49 during the quarter, contributing to its financial performance[11] Inventory and Receivables - Inventory increased by 36.22% to ¥5,501,946,888.16 due to strategic raw material stocking and increased product inventory in response to sales demand[16] - The accounts receivable reached CNY 1,843,695,185.50, compared to CNY 1,758,020,668.86, reflecting a rise of approximately 4.9%[30] - Contract assets rose by 71.92% to ¥132,436,900.96 as a result of increased sales activities where payment could not be collected unconditionally[16] Borrowings and Financing - Short-term borrowings increased by 262.38% to ¥1,538,435,031.72 due to an increase in short-term bank loans from subsidiaries[16] - The company raised 2,289,850,931.96 in borrowings during the current period, compared to 1,016,900,000.00 in the previous period, indicating a substantial increase of about 125%[47] Strategic Initiatives - The company plans to spin off its subsidiary Ruijie Networks for listing on the ChiNext board, with approval from the China Securities Regulatory Commission received in September 2022[27] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39] Accounting Adjustments - The company has made adjustments to its accounting policies to improve the comparability of financial information, which included a retrospective adjustment for share-based payment expenses[7]