DFGC(000679)2020-10-28 16:00Financial Performance - Operating revenue for the reporting period was CNY 42,631,320.78, down 73.90% year-on-year, and CNY 115,741,495.73, down 80.06% year-to-date[7] - Net profit attributable to shareholders increased by 103.00% to CNY 1,808,450.46 for the reporting period, and by 119.63% to CNY 27,870,515.55 year-to-date[7] - Basic earnings per share rose by 102.96% to CNY 0.005 for the reporting period, and by 120.00% to CNY 0.08 year-to-date[7] - The company reported a net profit of CNY 14,395,877.50, recovering from a loss of CNY 13,474,638.05 in the previous year[38] - The net profit for Q3 2020 was a loss of CNY 2,826,020.23, compared to a loss of CNY 65,569,613.55 in the previous year, indicating a significant improvement[45] - The net profit attributable to the parent company was CNY 27,870,515.55, a significant improvement from a net loss of CNY 141,980,936.06 in the same period last year[52] - The company reported a total comprehensive income of CNY 10,251,204.10, compared to a comprehensive loss of CNY 157,211,262.78 in the prior year[53] - The total profit for the period was CNY 10,251,204.10, contrasting with a total loss of CNY -156,874,881.16 in the previous year[52] Asset and Liability Changes - Total assets decreased by 69.87% to CNY 1,357,904,526.22 compared to the end of the previous year[7] - The company's current assets decreased to CNY 378,259,599.39 from CNY 3,508,701,603.28, indicating a reduction of approximately 89.2% year-over-year[35] - The total liabilities decreased to CNY 654,408,151.45 from CNY 3,831,794,221.67, a decline of approximately 82.9%[37] - The total liabilities decreased to CNY 1,188,420,517.18 from CNY 2,581,955,494.41, reflecting a reduction of 54%[44] - The company's equity attributable to shareholders rose to CNY 656,031,581.75 from CNY 610,064,842.65, an increase of about 7.5%[38] - The company's long-term payables decreased by 46.23% compared to the beginning of the period, mainly due to the repayment of finance lease liabilities[16] - The company’s estimated liabilities decreased by 97.53% compared to the beginning of the period, also due to the transfer of subsidiaries[16] Cash Flow Analysis - Cash flow from operating activities showed a net outflow of CNY 16,880,163.07, a decrease of 115.96% compared to the previous year[7] - The net cash flow from operating activities increased by 1499.32% year-on-year, mainly due to the recovery of receivables from the sale of subsidiary equity[17] - The company reported a cash flow from operating activities of CNY -813,432,218.08 for the year-to-date, compared to a positive cash flow of CNY 33,261,461.89 in the previous year[57] - The net cash flow from operating activities for Q3 2020 was CNY 1,934,420,433.17, a significant increase compared to CNY 120,952,808.40 in Q3 2019, reflecting a growth of approximately 1507%[60] - Total cash inflow from operating activities reached CNY 2,454,368,984.93, compared to CNY 814,372,812.43 in the previous year, indicating an increase of about 201%[60] - The total cash inflow from operating activities for the year-to-date was CNY 3,316,343,714.72, compared to CNY 764,032,747.24 in the previous year, marking an increase of approximately 334%[62] Operational Changes and Strategies - The company's operating revenue decreased by 80.06% year-on-year, primarily due to the impact of the pandemic and new revenue recognition standards on retail operations[17] - Operating costs decreased by 86.88% year-on-year, corresponding to the decline in revenue from retail operations[17] - The company has implemented new strategies to enhance operational efficiency and reduce costs amid challenging market conditions[40] - The company reduced its payable employee compensation by 97.63% compared to the beginning of the period, mainly due to the payment of year-end bonuses[16] - The company experienced a significant reduction in sales expenses, which were CNY 20,517,049.50 compared to CNY 37,362,180.09 in the previous period[51] Equity and Investments - Long-term investments decreased to CNY 222,970,000.00 from CNY 691,161,082.44, a decline of approximately 67.7%[40] - The company completed the transfer of 100% equity in subsidiaries Dalian Shengfa, Shenyang Xinglion, and Handan Faxing, with a total transaction value of 1.478 billion yuan[19] - The company reported a 99.48% decrease in accounts receivable due to the transfer of 100% equity in three subsidiaries[15] - Inventory decreased by 99.16% as a result of the same equity transfer[15] - The inventory level significantly dropped to CNY 28,031,069.29 from CNY 3,324,746,021.85, reflecting a decrease of approximately 99.2%[35] Financial Expenses - Financial expenses decreased by 97.06% year-on-year, primarily due to the repayment of loans from financial institutions[17] - The company’s financial expenses for Q3 2020 were CNY 15,804,861.73, a decrease of 72.5% from CNY 57,404,169.61 year-on-year[44] - The company incurred financial expenses of CNY 4,872,720.26, down from CNY 165,599,651.03 in the prior period[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,972[11] - The company reported a significant increase in other income of CNY 20,331,894.43 compared to CNY 65,978.38 in the previous year[45] Regulatory and Reporting Notes - The company adopted the new revenue recognition standard starting January 1, 2020, as approved by the board on April 27, 2020[74] - The Q3 report was not audited[74]