KINGSUN(SZ:300235)2021-10-27 16:00Financial Performance - The company's revenue for Q3 2021 was ¥39,741,797.09, a decrease of 30.07% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was ¥15,025,361.77, down 28.71% year-on-year[3] - The net profit excluding non-recurring gains and losses was ¥13,790,345.73, reflecting a decline of 29.06% compared to the previous year[3] - Total operating revenue for Q3 2021 was CNY 89,865,982.60, a decrease of 15.1% compared to CNY 105,878,950.53 in the same period last year[19] - Net profit for Q3 2021 was CNY 25,270,858.41, representing a decline of 33.5% from CNY 37,965,396.46 in Q3 2020[20] - Earnings per share (EPS) for Q3 2021 was CNY 0.1512, down from CNY 0.2265 in the same quarter last year[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥694,853,758.60, an increase of 2.39% from the end of the previous year[3] - As of September 30, 2021, the company's total current assets amounted to RMB 491,378,064.50, an increase from RMB 472,859,505.25 at the end of 2020, reflecting a growth of approximately 1.08%[15] - The total liabilities amounted to CNY 29,397,169.63, slightly up from CNY 29,241,996.53 in the previous quarter[17] - The company's retained earnings increased to CNY 187,148,602.00, compared to CNY 173,310,153.22 in the previous year[17] Cash Flow - The company reported a net cash flow from operating activities of -¥3,715,670.94, which is a 64.40% increase in cash outflow compared to the previous year[3] - Cash inflow from operating activities totaled CNY 120,481,706.84, an increase from CNY 105,093,817.08 in the previous year[23] - The net cash flow from operating activities was -3,715,670.94 CNY, an improvement from -10,436,929.94 CNY in the same period last year[24] - The total cash and cash equivalents at the end of the period were 257,902,649.61 CNY, down from 393,615,815.34 CNY at the end of the same quarter last year[24] - The net cash flow from investment activities was -48,661,728.67 CNY, compared to a positive 91,330,224.56 CNY in the previous year[24] Investments and Expenses - Research and development expenses increased by 43.34% to ¥681.04 million, driven by the need to upgrade educational products[8] - Research and development expenses increased significantly to CNY 22,522,362.03, up 43.5% from CNY 15,711,997.06 in the previous year[19] - The company experienced a 50.00% increase in trading financial assets, amounting to ¥5,000,000, due to investments in bank wealth management products[7] Contractual Obligations - Contract liabilities surged by 373.67% to ¥380.39 million, indicating a significant increase in advance payments from sales contracts[7] - The company reported a significant increase in contract liabilities to CNY 4,821,892.46, up from CNY 1,017,990.47 year-on-year[19] Strategic Initiatives - The company is committed to enhancing educational technology solutions in response to the "double reduction" policy, focusing on AI and comprehensive solutions for K-12 education[13] - The company aims to improve classroom efficiency and student engagement through innovative educational tools and resources[13] - The company has not yet issued shares to specific targets despite receiving approval from the China Securities Regulatory Commission for such issuance[13] Audit and Reporting - The report for the third quarter was not audited[25]