Haibo(SZ:300517)2020-10-29 16:00Financial Performance - Net profit attributable to shareholders was ¥12,813,657.75, reflecting a growth of 2.41% year-on-year[8]. - Operating revenue for the reporting period was ¥181,627,801.53, down 8.87% compared to the same period last year[8]. - Basic earnings per share remained at ¥0.12, unchanged from the previous period[8]. - The weighted average return on equity was 1.72%, a decrease of 0.11% compared to the previous year[8]. - The net profit for Q3 2020 was CNY 12,868,703.94, representing an increase of 2.8% from CNY 12,512,017.42 in Q3 2019[46]. - The total profit for Q3 2020 was CNY 14,383,256.36, an increase of 10.5% compared to CNY 13,022,221.35 in Q3 2019[46]. - The net profit for the current period is CNY 34,259,272.12, compared to CNY 35,253,852.09 in the previous period, indicating a decrease of about 2.8%[54]. - Basic and diluted earnings per share for the current period are both CNY 0.32, down from CNY 0.33 in the previous period, reflecting a decline of approximately 3.0%[54]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,582,337,525.82, an increase of 12.60% compared to the previous year[8]. - Accounts receivable decreased by 64.51% to ¥25,432,252.84 due to a reduction in received notes compared to the previous year[17]. - Contract assets increased to ¥313,706,834.11, marking a 100% change due to the implementation of new revenue recognition standards[17]. - Inventory decreased by 49.05% to ¥176,713,150.84, attributed to the adjustment in reporting under new revenue standards[17]. - Short-term borrowings increased by 200% to ¥30,000,000.00, reflecting a rise in short-term financing[17]. - The total current liabilities increased to CNY 1,000,000,000.00, up from CNY 800,000,000.00, indicating a growth of 25%[33]. - Current liabilities increased to CNY 816.28 million from CNY 680.88 million, representing a rise of 19.9%[38]. - The total liabilities were CNY 683,374,661.26, with non-current liabilities at CNY 2,493,032.01[65]. Cash Flow - The net cash flow from operating activities was -¥25,827,713.20, a decrease of 150.37% year-on-year[8]. - Net cash flow from operating activities dropped by 94.69% to ¥5,958,455.07, primarily due to increased material payments compared to the previous year[17]. - The cash inflow from operating activities is CNY 609,381,464.67, an increase from CNY 524,348,577.39 in the previous period, representing a growth of approximately 16.2%[56]. - The cash outflow from operating activities is CNY 603,423,009.60, compared to CNY 412,205,809.70 in the previous period, indicating an increase of about 46.5%[56]. - Total cash inflow from financing activities was 34,908,733.05 CNY, while cash outflow was 59,335,515.25 CNY, resulting in a net cash flow from financing activities of -24,426,782.20 CNY[61]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,090[12]. - The largest shareholder, Zhang Haibo, holds 53.00% of the shares, totaling 56,570,000 shares[12]. Litigation and Claims - The company is involved in ongoing litigation with Zhongjiao Hengdu Development Construction Co., Ltd., claiming overdue payments totaling ¥5,730,948.54[20]. - The company is pursuing claims against Wuhan Municipal Special Group Co., Ltd. for a total of ¥10,342,525.44 in overdue payments[21]. - The company is also engaged in litigation with Henan Liu Jian Construction Group Co., Ltd. for overdue payments and penalties totaling ¥13,737,802.94[22]. Management and Expenses - Management expenses decreased by 31.86% to ¥11,941,974.68, mainly due to reduced wages and social security exemptions during the pandemic[17]. - Research and development expenses for Q3 2020 were CNY 4.58 million, down from CNY 5.86 million in the same period last year, indicating a decrease of 21.9%[41]. - Research and development expenses for the current period are CNY 19,705,315.07, up from CNY 17,840,289.55 in the previous period, reflecting an increase of approximately 10.4%[53]. Investment and Subsidiaries - The company plans to increase its investment in its wholly-owned subsidiary, Hai Bo Heavy Engineering Construction Investment (Hubei) Co., Ltd., by ¥30,000,000, raising its registered capital from ¥10,000,000 to ¥40,000,000[19]. - The company established a wholly-owned subsidiary, Haibo Heavy Engineering Technology Co., Ltd. (Hannan), with a registered capital of CNY 10 million, focusing on bridge steel structure research and manufacturing[26]. Revenue Recognition and Standards - The adjustment under the new revenue standard included transferring CNY 245,108,282.56 from inventory to contract assets[70]. - The company reported a contract liability of CNY 158,908,727.65 due to the new revenue recognition standard[68].