TANAC(SZ:300461)2019-10-27 16:00Financial Performance - Operating revenue for the reporting period was CNY 112,853,798.52, a decline of 68.95% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was CNY 10,408,925.90, representing a decrease of 83.36% year-on-year[8]. - The net profit after deducting non-recurring gains and losses was CNY 5,127,498.85, down 91.47% year-on-year[8]. - Basic earnings per share were CNY 0.08, down 84.91% year-on-year[8]. - The total profit for the period was CNY 2,414,474.36, significantly lower than CNY 73,820,365.87 in the same quarter last year, marking a decrease of 96.7%[62]. - The company's net loss for Q3 2019 was CNY 6,037,579.30, indicating a decline in profitability compared to previous periods[61]. - The total comprehensive income attributable to the parent company was CNY 10,361,687.54, down from CNY 63,096,411.12 year-on-year, a decrease of 83.6%[63]. - The company's research and development expenses were CNY 6,666,678.59, a decrease of 56.5% from CNY 15,394,675.65 in the previous year[65]. - The company reported a significant decline in net profit for the year, primarily due to credit impairment losses and asset impairment losses, leading to a warning of substantial decrease compared to the previous year[46]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,206,007,451.36, a decrease of 13.53% compared to the end of the previous year[8]. - Total liabilities decreased to CNY 978,778,161.41 from CNY 1,053,572,628.16 year-over-year, reflecting a reduction in financial obligations[54]. - The company's equity attributable to shareholders was CNY 160,765,575.90, down from CNY 244,608,751.75 in the previous year[54]. - Cash and cash equivalents increased to CNY 155,143,053.59 from CNY 115,667,729.86 at the end of 2018, reflecting a growth of approximately 34%[51]. - The company's inventory decreased significantly to CNY 280,329,743.83 from CNY 387,763,221.57, indicating a reduction of about 27.6%[51]. - The company’s total liabilities were 1,023,444,883.83, indicating a stable financial position[85]. - The company’s capital reserve was CNY 230,800,104.16, reflecting its financial stability despite the negative retained earnings[91]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 17,952,734.49, a decrease of 78.02% compared to the same period last year[8]. - Operating cash flow for the period was 23,190,472.46, a decrease of 80.3% compared to 117,629,255.52 in the previous period[80]. - Cash inflow from operating activities totaled 255,047,530.74, a decrease of 34.2% from 387,231,198.24 in the previous period[80]. - Cash inflow from sales of goods and services was 304,404,363.08 CNY, down from 559,569,512.16 CNY year-over-year, indicating a decline in sales performance[76]. - The company reported a net cash flow from financing activities of 10,298,600.01, down from 83,990,402.00, a decline of 87.7%[81]. Legal Issues - The company has 28 ongoing lawsuits, which may impact future operations and financial performance[17]. - The company is involved in multiple patent infringement lawsuits, with potential liabilities amounting to ¥750,000 and ¥500,000 in different cases[19][21]. - The ongoing legal disputes indicate potential cash flow challenges for Yuanyang Xiangrui, impacting its operational stability[24][25][28]. - The total amount claimed against the company in various lawsuits exceeds ¥20 million, indicating significant financial pressure[34][36]. - The company is actively contesting several claims in court, indicating ongoing legal challenges[38]. Shareholder Information - The company reported a total of 6,220 common shareholders at the end of the reporting period[12]. - The top ten shareholders held a combined 74.77% of the company's shares, with the largest shareholder holding 17.53%[12]. - The company completed the transfer of 9.867526 million shares at a price of RMB 20.00 per share on September 3, 2019[41]. - After the share repurchase, the total share capital decreased from 124,595,028 shares to 121,642,380 shares[41]. Investment and Subsidiaries - The company signed an agreement to sell 55% equity in a subsidiary, Yanyang Xiangrui Machinery Co., Ltd.[41]. - The committed net profits for the target company for 2016, 2017, and 2018 were RMB 50 million, RMB 65 million, and RMB 85 million respectively[43]. - The cash compensation amount due from certain individuals is CNY 10,654,000, which is to be paid within two months following the registration of the share transfer[45].