SEC(603988)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥206,293,355.28, representing a decrease of 21.04% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥38,611,422.30, a decline of 113.22% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥3,947,646.08, down 88.11% from the previous year[6]. - The basic and diluted earnings per share were both -¥0.16, reflecting a decrease of 113.22% compared to the same period last year[7]. - The weighted average return on equity was -6.63%, a decrease of 20.86 percentage points year-on-year[7]. - Net profit for the reporting period decreased by 113.22%, primarily due to changes in the fair value of equity investments and increased management expenses[12]. - Investment income for the reporting period decreased by 4,062.19%, mainly due to changes in the fair value of equity investments[12]. - Other income for the reporting period decreased by 96.27%, primarily due to reduced government subsidies[12]. - Financial expenses for the reporting period decreased by 93.19%, mainly due to exchange rate losses and increased interest expenses[12]. - Net profit for the third quarter of 2021 was CNY 10,753,596.25, a significant decline of 93.77% from CNY 172,334,812.10 in the same quarter of 2020[28]. - Earnings per share for the third quarter of 2021 were CNY 0.05, compared to CNY 0.73 in the same quarter of 2020[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,108,221,513.44, down 12.43% from the end of the previous year[7]. - Shareholders' equity attributable to the parent company was ¥562,640,568.29, a decrease of 25.64% compared to the end of the previous year[7]. - The company reported a total current liabilities of CNY 514,857,580.77, up from CNY 481,057,395.94, which is an increase of about 7.8%[23]. - Total liabilities as of the end of the third quarter of 2021 were CNY 545,580,945.15, an increase of 7.21% from CNY 508,861,673.62 at the end of 2020[24]. - The company's non-current assets totaled CNY 163,726,204.68, down from CNY 171,213,619.37, indicating a decrease of about 4.4%[23]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥29,400,982.93, reflecting a decrease of 20.09%[7]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 29,400,982.93, a decrease of 20.06% from CNY 36,792,301.97 in the same period of 2020[32]. - Cash inflow from investment activities for the first three quarters of 2021 was CNY 261,784,839.37, down from CNY 401,481,482.80 in the previous year[32]. - The net cash flow from investment activities was 48,146,124.24 in the previous period, indicating strong investment performance[33]. - Cash outflow from financing activities totaled 109,367,999.68 previously, reflecting increased financial obligations[33]. - The net increase in cash and cash equivalents was 24,552,619.09 in the prior period, showing improved liquidity[33]. - The ending balance of cash and cash equivalents reached 21,903,676.46, indicating a strong cash position[33]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,912[14]. - The top three shareholders held a combined 60.42% of the shares, with Ningbo JunTuo Enterprise Management Co., Ltd. holding 23.47%[15]. Management and Restructuring - The company reported a significant increase in management expenses by 44.64% year-to-date, mainly due to salary and consulting fees related to major asset restructuring projects[11]. - The company is planning to acquire all shares of Tianjin Beiqing Power Smart Energy Co., Ltd. through asset replacement and share issuance, which is expected to constitute a major asset restructuring and lead to a change in control[16]. - The company is actively working on the additional audit data required for the asset restructuring, with a new audit base date set for September 30, 2021[19]. - The company received inquiries from the Shanghai Stock Exchange regarding the asset restructuring plan, which were addressed in subsequent announcements[17]. - The company has completed the deregistration of its wholly-owned subsidiary, Wuxi Hade Electric Co., Ltd., which had not engaged in substantive operations since its establishment[20]. Inventory and Financial Assets - Cash and cash equivalents decreased by 47.54% at the end of the reporting period, primarily due to dividend distributions[11]. - Trade financial assets decreased by 49.80% at the end of the reporting period, mainly due to the redemption of financial products and partial equity investment sales[11]. - Accounts receivable increased by 34.76% at the end of the reporting period, attributed to extended payment terms from certain customers[11]. - The company’s inventory increased to CNY 353,686,941.03 from CNY 285,348,765.07, reflecting a rise of approximately 24%[22].