HDHM(SZ:002685)2021-10-29 16:00Financial Performance - The company's revenue for Q3 2021 was ¥2,758,985,360.68, representing a 25.62% increase compared to the same period last year[3]. - Total operating revenue for Q3 2021 reached ¥6,899,988,101.81, an increase of 27.1% compared to ¥5,428,634,827.64 in the same period last year[27]. - Net profit for Q3 2021 was a loss of ¥44,867,352.53, compared to a profit of ¥95,908,666.80 in Q3 2020, representing a significant decline[28]. - The company's operating profit for Q3 2021 was a loss of ¥31,899,033.68, down from a profit of ¥117,189,035.65 in the previous year[27]. - The total comprehensive income for Q3 2021 was a loss of ¥44,874,420.19, compared to a gain of ¥95,649,995.33 in Q3 2020[28]. - Basic and diluted earnings per share for Q3 2021 were both -¥0.0761, compared to ¥0.0917 in the same period last year[29]. Profitability and Losses - The net profit attributable to shareholders was -¥123,510,399.88, a decrease of 461.29% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥96,586,853.74, down 396.92% from the previous year[3]. - Investment income turned negative at -¥26,180,669.05, a decline of 282.24% from ¥14,365,756.02, attributed to losses from the sale of a controlling subsidiary[12]. - Credit impairment losses surged by 383.39% to -¥111,603,358.18 from -¥23,087,705.74, resulting from extended accounts receivable aging[12]. Cash Flow and Liquidity - The operating cash flow net amount for the year-to-date was -¥136,989,411.37, a decrease of 40.09%[3]. - Net cash flow from operating activities was -¥136,989,411.37, a decrease of 40.09% compared to -¥97,785,966.72, influenced by increased working capital needs and extended accounts receivable aging[13]. - Net cash flow from investing activities plummeted by 6183.40% to -¥97,526,501.74 from -¥1,552,129.52, due to the transfer of controlling subsidiary equity and unrecovered funds[13]. - Net cash flow from financing activities rose to ¥58,769,194.13, an increase of 310.30% from -¥27,945,523.52, driven by increased minority shareholder investments and reduced dividend distributions[13]. - Cash and cash equivalents decreased by 70.64% to ¥82,341,116.47 due to order execution and inventory reserves[9]. - The total cash and cash equivalents at the end of the period were 34,496,015.97 CNY, down from 178,746,512.08 CNY in the previous period[32]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,368,092,153.36, down 11.42% from the end of the previous year[3]. - The total liabilities as of the end of Q3 2021 amounted to ¥1,623,906,881.90, compared to ¥2,131,349,357.08 at the end of the previous year[27]. - The equity attributable to shareholders decreased by 2.00% to ¥3,744,185,271.46 compared to the end of the previous year[3]. - The company's total equity attributable to shareholders was ¥3,744,185,271.46, a decrease from ¥3,820,688,420.84 in the previous year[27]. - The company’s non-current assets totaled approximately CNY 2.14 billion, down from CNY 2.26 billion at the end of 2020[24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 45,103, with no preferred shareholders[15]. - The largest shareholder, Zhou Wenyuan, holds 17.68% of shares, totaling 178,177,676, with 70,000,000 shares pledged[15]. - Shareholder Li Xiaolong reduced his stake by selling 2 million shares, representing 0.19% of the total share capital[18]. Strategic Actions - The company completed a significant asset disposal, transferring 50.1931% of its stake in Wuxi Huashangtong E-commerce Co., Ltd., which impacted its financials[7]. - The company completed a major asset restructuring by selling a 50.1931% stake in Wuxi Huashangtong E-commerce Co., Ltd. for a total cash consideration of CNY 75.60 million, aligning with its strategy to optimize business structure[18]. - The company is focusing on high-end equipment manufacturing as part of its strategic direction following the divestiture of its stainless steel supply chain business[18]. Expenses and Costs - Management expenses increased to ¥105,030,499.83, up 87.03% from ¥56,157,909.92 due to excess performance bonuses from the previous year[11]. - Other income decreased by 56.52% to ¥9,711,868.90 from ¥22,337,034.24, primarily due to reduced government subsidies[12]. - Research and development expenses for Q3 2021 were ¥36,088,379.86, up from ¥29,119,710.34 in Q3 2020, indicating a focus on innovation[27]. Inventory and Receivables - The company’s inventory increased to CNY 1.34 billion as of September 30, 2021, compared to CNY 1.04 billion at the end of 2020, reflecting potential challenges in sales[22]. - The company reported a significant increase in bad debt provisions due to aging accounts receivable in the machine tool segment, impacting overall performance[19]. - The machine tool segment's expected loss rates for accounts receivable are 10.61% for accounts aged within one year and 16.71% for accounts aged between one to two years[20]. Audit and Compliance - The company did not undergo an audit for the third quarter report[34].