勤上股份(002638) - 2020 Q3 - 季度财报

Financial Performance - Operating revenue for the period was CNY 232,450,297.30, a decline of 10.53% year-on-year[9] - Net profit attributable to shareholders was a loss of CNY 4,483,403.74, representing a 23.99% increase in loss compared to the same period last year[9] - The net cash flow from operating activities was a negative CNY 30,151,079.51, an increase in outflow of 77.53% year-on-year[9] - Basic and diluted earnings per share were both CNY -0.0030, a decrease of 23.08% compared to the previous year[9] - The weighted average return on net assets was -0.13%, a decrease of 0.02% compared to the previous year[9] - The company reported a net profit loss for the year 2020, which may lead to the suspension of its stock listing if the audited net profit remains negative[28] - The company reported a significant increase in inventory, rising from approximately 272.59 million RMB at the end of 2019 to about 301.20 million RMB by September 30, 2020[50] - The net profit for Q3 2020 was -19,682,058.64 CNY, compared to a net profit of 1,116,728.19 CNY in Q3 2019, indicating a significant decline[68] - The total profit for the quarter was CNY -7,014,102.04, compared to CNY -3,257,245.36 in the previous year, indicating a worsening of 115.0%[60] Assets and Liabilities - Total assets decreased by 5.38% to CNY 4,226,117,716.18 compared to the end of the previous year[9] - Cash and cash equivalents decreased by 36.12% compared to the beginning of the period, primarily due to loan repayments[17] - Long-term borrowings decreased by 100% as the company repaid bank loans during the period[17] - Total liabilities decreased to CNY 682,688,060.48 from CNY 904,770,987.76 year-over-year[53] - Total assets as of September 30, 2020, were CNY 4,401,645,620.04, slightly down from CNY 4,421,439,410.09 at the end of 2019[55] - The company has a negative retained earnings of CNY -1,500,913,821.11, indicating accumulated losses[85] - The total current liabilities were reported at CNY 206,838,659.74, with non-current liabilities totaling CNY 9,053,708.33[88] Shareholder Information - The total number of shareholders at the end of the reporting period was 32,987[13] - The largest shareholder, Dongguan Kingsun Group Co., Ltd., held 16.79% of the shares[13] - The company did not engage in any repurchase transactions during the reporting period[14] Research and Development - R&D expenses increased by 86.80% year-over-year, attributed to the capitalization of certain development expenditures by the subsidiary Longwen Education[18] - Research and development expenses rose to CNY 1,689,121.87, compared to CNY 677,227.09 in the previous period[59] - Research and development expenses increased to CNY 5,667,373.00, up from CNY 3,033,907.72, representing an increase of 86.7% year-over-year[66] Legal and Compliance Issues - The company is actively addressing compliance issues with certain educational institutions to obtain necessary licenses, which may pose risks of closure for non-compliant sites[27] - The company is pursuing legal actions to protect its interests regarding performance compensation agreements with former shareholders of Guangzhou Longwen[22] - The company has received a warning letter from the China Securities Regulatory Commission and is undergoing rectification measures[30] - The company is actively involved in legal proceedings related to performance commitment compensation matters, with ongoing negotiations and agreements in place[36] Strategic Initiatives - The company has signed a cooperation agreement with Shenzhen Zhongxing Network Technology Co., Ltd. to establish a strategic partnership for smart city projects in the Guangdong-Hong Kong-Macao Greater Bay Area[30] - The company terminated the acquisition of 100% equity in Aidi Education, with a refund of CNY 790 million expected to be returned in installments[30] - The company is actively seeking strategic partners to mitigate risks and achieve win-win cooperation[28] - The company has outlined a strategy to ensure fair and reasonable pricing in any unavoidable related transactions[33] Cash Flow and Investment - The company reported a cash flow from operating activities of -134,522,648.34 CNY, compared to -186,024,990.10 CNY in the previous year[76] - The net cash flow from investment activities was 53,659,409.15 CNY, a significant improvement compared to a net outflow of 684,419,909.42 CNY in the previous period[77] - The total cash inflow from investment activities was 2,735,730,352.38 CNY, compared to 628,314,150.70 CNY in the previous period[78] Other Income and Expenses - The company reported non-recurring gains and losses, including CNY 16,664,219.07 from government subsidies[10] - Other income rose by 107.80% year-over-year, mainly due to government subsidies and deferred income amortization[18] - The company incurred a financial expense of -3,882,600.75 CNY in Q3 2020, compared to -4,484,234.58 CNY in Q3 2019[68]