BESTWAY(SZ:300008)2021-10-26 16:00Revenue and Profitability - Revenue for Q3 2021 reached ¥276,244,306.33, an increase of 60.46% year-over-year, and a total revenue of ¥859,859,959.64 for the first three quarters, up 112.49% compared to the same period last year[6] - Net profit attributable to shareholders was -¥12,119,869.30 for Q3 2021, a decrease of 801.50% year-over-year, with a year-to-date net profit of ¥19,423,714.91, down 50.63%[6] - Total operating revenue for the current period reached ¥859,859,959.64, a significant increase from ¥404,665,257.35 in the previous period, representing a growth of approximately 112.2%[48] - Net profit for the current period was ¥20,146,401.71, down from ¥39,513,094.06 in the previous period, reflecting a decrease of approximately 49.1%[51] - The net profit attributable to the parent company's shareholders was ¥19,423,714.91, compared to ¥39,343,818.22 in the previous period, a decline of about 50.7%[53] Cash Flow and Financial Position - The net cash flow from operating activities showed a significant decline of 46,764.80%, totaling -¥182,008,980.17 year-to-date[6] - Net cash flow from operating activities decreased by 46,764.80% year-on-year, significantly impacted by increased guarantee deposits and advance payments for raw material procurement due to rapid growth in EPC project orders[29] - Operating cash inflow totaled CNY 1,157,810,806.75, compared to CNY 512,055,676.05 in the previous period[57] - Operating cash outflow amounted to CNY 1,339,819,786.92, up from CNY 511,665,641.24 year-over-year[57] - Net cash flow from operating activities was negative CNY 182,008,980.17, a significant decline from a positive CNY 390,034.81 previously[57] - Cash flow from investing activities showed a net outflow of CNY 32,549,554.77, compared to a smaller outflow of CNY 1,475,318.10 last year[59] - Cash inflow from financing activities was CNY 126,567,001.00, an increase from CNY 70,456,000.00 in the prior period[59] - The ending cash and cash equivalents balance was CNY 160,821,353.50, compared to CNY 109,490,971.54 at the end of the previous period[59] Assets and Liabilities - The company's total assets increased by 20.92% year-over-year, reaching ¥2,465,619,198.35[6] - As of September 30, 2021, the total assets of Tianhai Fusion Defense Equipment Technology Co., Ltd. amounted to CNY 2,465,619,198.35, an increase from CNY 2,038,996,381.88 at the end of 2020, representing a growth of approximately 21%[42] - The company's current assets totaled CNY 1,296,328,800.61, up from CNY 920,553,459.05 at the end of 2020, indicating a growth of about 41%[42] - The total liabilities of the company increased to CNY 1,200,000,000.00, reflecting a significant rise in financial obligations[45] - The total liabilities amounted to ¥802,948,874.07, up from ¥390,514,425.65, representing an increase of about 105.5%[48] Operational Performance - The company experienced a 138.64% increase in operating costs, attributed to rising material and labor costs amid longer execution cycles for EPC orders[26] - R&D expenses rose by 100.46% year-over-year, reflecting increased investment following the recovery of business operations[28] - The company reported a significant increase in prepayments, which rose to CNY 244,098,600.43 from CNY 71,361,352.07, indicating a growth of about 242%[42] - Total operating costs amounted to ¥885,875,853.81, compared to ¥738,022,973.65 in the previous period, indicating an increase of about 19.9%[51] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 120,109, with the top ten shareholders holding significant stakes[31] - Xiamen Longhai Energy Investment Partnership holds 12.50% of shares, with 216,000,000 shares frozen[31] - Liu Nan, a natural person, holds 8.34% of shares, with 39,425,000 shares frozen[31] - China Great Wall Asset Management Co., Ltd. holds 6.16% of shares[31] - The total number of restricted shares at the beginning of the period was 216,000,000, with no shares released during the period[35] - The restricted shares are set to be released on December 29, 2023[35] Strategic Focus - The company plans to enhance operational efficiency through cost control and financing expansion in response to market challenges[8] - The company is focusing on three major business segments: "Ship Engineering," "Defense Equipment," and "New Energy," as part of its strategic recovery phase[8] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[56] Regulatory and Compliance - The company received an investigation notice from the China Securities Regulatory Commission on January 25, 2021, due to suspected violations of securities laws, with no progress reported as of the end of the reporting period[41] - The company has not conducted an audit for the third-quarter report, which may affect the reliability of the financial data presented[71] - The company is implementing new leasing standards, which may impact future financial reporting[71]