华平股份(300074) - 2021 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2021 was ¥57,786,781, a decrease of 45.93% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥14,448,152, representing a decline of 209.09% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥16,405,457, a decrease of 220.76% compared to the previous year[2]. - The basic earnings per share were -¥0.0273, down 208.76% from the same period last year[2]. - Revenue for Q3 2021 was CNY 251,486,001.76, a decrease of 12.48% compared to CNY 287,349,753.95 in the previous year, primarily due to a decline in smart city business revenue[8]. - Total profit (loss) for the period was a loss of CNY 21,889,482.77, a 1666.96% increase in loss compared to a loss of CNY 1,238,820.68 in the previous year, driven by decreased revenue and increased bad debt provisions[8]. - The net profit for the current period is a loss of $15.81 million, compared to a loss of $0.66 million in the previous period, indicating a worsening performance[31]. - The company reported an operating profit of -$21.86 million, a significant decline from a profit of $0.02 million in the previous period[31]. Cash Flow and Assets - Cash flow from operating activities showed a significant decline, with a net outflow of -¥31,682,450[2]. - Net cash flow from operating activities was a negative CNY 31,682,450.50, a decline of 387.72% compared to negative CNY 6,496,087.71 in the previous year, due to decreased cash receipts from sales[8]. - Cash and cash equivalents decreased from ¥284.23 million to ¥158.70 million[26]. - Cash and cash equivalents at the end of the period decreased to $158.66 million from $293.26 million, a decline of approximately 46%[35]. - Net cash flow from investing activities was a negative CNY 50,535,362.09, a decrease of 262.74% compared to positive CNY 31,053,513.74 in the previous year, primarily due to payments for the acquisition of subsidiaries[8]. - Investment activities resulted in a net cash outflow of $50.54 million, compared to a net inflow of $31.05 million in the previous period[34]. - Net cash flow from financing activities was a negative CNY 39,902,493.04, a decline of 123.37% compared to positive CNY 170,735,941.43 in the previous year, mainly due to repayment of bank loans[8]. - Financing activities generated a net cash outflow of $39.90 million, contrasting with a net inflow of $170.73 million in the previous period[35]. Investments and Equity - Long-term equity investments increased by 77.12% to ¥116,133,871.43 due to additional investments in joint ventures[7]. - The company reported non-recurring gains of ¥1,957,305.37 for the current period[5]. - Investment income increased significantly by 290.04% to CNY 12,244,565.96 from CNY 3,139,301.12, attributed to higher profits from the associate company Xin Yi Hua[8]. - Long-term borrowings increased significantly by 1401.50% to CNY 150,150,000.00 from CNY 10,000,000.00, indicating a substantial increase in bank loans[8]. - Contract liabilities rose by 31.41% to CNY 39,325,999.40 from CNY 29,926,760.24, reflecting an increase in advance payments received[8]. - The company transferred a 30% stake in Shanghai Huashi Jingcheng Network Technology Co., Ltd. for a total consideration of RMB 115 million, with RMB 5 million paid upfront and the remaining amount to be settled by December 31, 2016[15]. - The company signed an agreement to sell a 10% stake in Beijing Xinhua Technology Co., Ltd. to Shandong Jiangquan Industrial Co., Ltd. for RMB 33 million, which is pending approval from Jiangquan's shareholders and the China Securities Regulatory Commission[17]. - The transaction for the sale of the stake in Beijing Xinhua Technology was terminated on September 27, 2021, with no fees or penalties incurred by either party[18]. - The company acquired a 10.745% stake in Zhengzhou Xinyi Hua for approximately ¥21.59 million and later acquired an additional 20% stake for ¥60 million, resulting in a total ownership of 56.856%[19]. - The company completed the necessary industrial and commercial changes for the acquisition of Xinyi Hua by September 24, 2021[20]. Research and Development - R&D expenses decreased by 29.82% to CNY 26,323,619.71 from CNY 37,510,022.25, mainly due to higher employee compensation and severance payments in the same period last year[8]. - Research and development expenses decreased significantly to $26.32 million from $37.51 million, a decline of approximately 29.8%[30]. Accounting and Standards - The company will implement the new leasing standards starting January 1, 2021, without adjusting the beginning balance sheet items[36]. - The cumulative impact of the new leasing standards will only adjust the retained earnings and related financial statement items for the year of first implementation[36]. - The accounting policy change will not have a significant impact on the company's financial position, operating results, and cash flows[36]. - The third quarter report has not been audited[37].