TASLY(600535)2024-10-25 08:23Revenue and Profit Performance - Revenue for the third quarter was RMB 2.09 billion, a decrease of 4.06% compared to the same period last year[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 179.89 million, a decrease of 44.67% year-on-year[2] - Cumulative revenue from the beginning of the year to the end of the reporting period was RMB 6.46 billion, a decrease of 1.66% compared to the same period last year[2] - Cumulative net profit attributable to shareholders of the listed company from the beginning of the year to the end of the reporting period was RMB 325.12 million, a decrease of 18.41% year-on-year[2] - Total revenue for the first three quarters of 2024 was 6,462,559,794.57 RMB, a slight decrease from 6,571,392,090.82 RMB in the same period of 2023[17] - Net profit for the first three quarters of 2024 was 828,144,304.95 RMB, down from 1,000,105,317.73 RMB in the same period of 2023[18] - Revenue for the first three quarters of 2024 reached 4,324,188,522.33 RMB, up from 4,092,108,241.36 RMB in the same period last year[25] - Net profit for the first three quarters of 2024 was 871,685,138.46 RMB, down from 1,041,089,199.71 RMB in the same period last year[26] Profitability Factors - The decrease in net profit was mainly due to higher fair value losses on financial assets and lower gross margins from product price reductions[4] - Basic earnings per share for the third quarter were RMB 0.12, a decrease of 45.45% year-on-year[3] - Net profit attributable to shareholders of the parent company was 842,201,236.32 RMB, down from 1,032,219,095.72 RMB in the same period of 2023[18] - Basic earnings per share for the first three quarters of 2024 were 0.56 RMB, down from 0.69 RMB in the same period of 2023[19] Asset and Equity Changes - Total assets at the end of the reporting period were RMB 16.83 billion, an increase of 0.72% compared to the end of the previous year[3] - Shareholders' equity attributable to the listed company at the end of the reporting period was RMB 12.71 billion, an increase of 2.74% compared to the end of the previous year[3] - Tianshi Pharmaceutical Group's total current assets as of September 30, 2024, amounted to 9,071,544,282.27 RMB, compared to 8,732,680,895.93 RMB at the end of 2023[14] - Total assets increased to 16,834,745,203.85 RMB, up from 16,714,285,093.86 RMB in the previous period[15] - Total equity increased to 13,017,525,146.32 RMB from 12,690,009,062.97 RMB[16] - Total assets increased to 15,464,733,902.98 RMB, up from 15,410,450,008.24 RMB in the previous period[23] - Total equity attributable to shareholders rose to 11,945,130,957.33 RMB, up from 11,583,165,376.29 RMB previously[24] Financial Position and Liabilities - The company's monetary funds decreased to 3,635,664,278.51 RMB as of September 30, 2024, from 4,450,600,676.46 RMB at the end of 2023[13] - Tianshi Pharmaceutical Group's accounts receivable increased to 1,040,697,294.55 RMB as of September 30, 2024, from 688,003,223.63 RMB at the end of 2023[14] - The company's inventory decreased slightly to 1,708,285,219.12 RMB as of September 30, 2024, from 1,747,685,395.27 RMB at the end of 2023[14] - Tianshi Pharmaceutical Group's long-term equity investments decreased to 1,368,351,638.68 RMB as of September 30, 2024, from 1,415,412,097.78 RMB at the end of 2023[14] - The company's fixed assets decreased to 3,228,253,408.17 RMB as of September 30, 2024, from 3,388,718,651.12 RMB at the end of 2023[14] - Tianshi Pharmaceutical Group's development expenditure increased to 1,544,830,366.16 RMB as of September 30, 2024, from 1,452,896,953.08 RMB at the end of 2023[14] - The company's total non-current assets as of September 30, 2024, included 481,957,189.38 RMB in other non-current financial assets, down from 638,217,114.53 RMB at the end of 2023[14] - Tianshi Pharmaceutical Group's prepayments increased to 95,274,519.23 RMB as of September 30, 2024, from 65,572,406.23 RMB at the end of 2023[14] - The company's other receivables increased significantly to 86,552,069.72 RMB as of September 30, 2024, from 11,490,057.43 RMB at the end of 2023[14] - Total liabilities decreased to 3,817,220,057.53 RMB from 4,024,276,030.89 RMB in the previous period[16] - Short-term borrowings increased to 993,287,736.04 RMB from 723,051,144.30 RMB[15] - Short-term borrowings increased significantly to 896,570,694.44 RMB, up from 497,476,388.89 RMB previously[23] - Total liabilities decreased to 3,519,602,945.65 RMB, down from 3,827,284,631.95 RMB previously[23] Cash Flow and Investments - Cash received from sales of goods and services in the first three quarters of 2024 was 7,060,063,757.08 RMB, a decrease from 7,318,700,255.57 RMB in the same period of 2023[20] - Net cash flow from operating activities for the first three quarters of 2024 was 1,189,929,757.94 RMB, an increase from 1,089,487,406.49 RMB in the same period of 2023[21] - Cash received from investments in the first three quarters of 2024 was 4,983,417,806.61 RMB, a significant increase from 1,615,886,708.19 RMB in the same period of 2023[21] - Net cash flow from investing activities for the first three quarters of 2024 was -1,499,100,283.76 RMB, a decrease from -298,549,592.91 RMB in the same period of 2023[21] - Net cash flow from financing activities for the first three quarters of 2024 was -866,677,828.49 RMB, a decrease from -158,026,719.99 RMB in the same period of 2023[21] - The company's monetary funds as of September 30, 2024, were 2,235,324,918.20 RMB, a decrease from 3,221,847,242.03 RMB at the end of 2023[22] - The company's total current assets as of September 30, 2024, were 6,147,756,808.30 RMB, slightly increased from 6,128,717,018.14 RMB at the end of 2023[22] - Long-term equity investments as of September 30, 2024, were 6,589,887,702.87 RMB, a slight decrease from 6,629,227,183.33 RMB at the end of 2023[22] - Development expenditure rose to 909,513,693.87 RMB, compared to 828,481,492.63 RMB previously[23] - Cash flow from operating activities for the first three quarters of 2024 was 4,433,623,509.83 RMB, up from 4,365,765,773.15 RMB in the same period last year[27] - Total cash outflow from operating activities was 3,815,438,910.24 RMB, a slight increase from 3,803,717,675.71 RMB in the previous period[28] - Net cash flow from operating activities increased to 618,184,599.59 RMB, up from 562,048,097.44 RMB[28] - Cash inflow from investment activities surged to 5,453,758,056.45 RMB, more than double the previous 2,321,604,557.77 RMB[28] - Cash outflow for investments rose significantly to 6,515,144,853.19 RMB, compared to 2,821,158,230.68 RMB[28] - Net cash flow from investment activities was negative at -1,415,572,973.32 RMB, a larger outflow than the previous -746,101,885.43 RMB[28] - Cash inflow from financing activities decreased to 2,370,688,611.12 RMB, down from 2,759,510,000.00 RMB[28] - Net cash flow from financing activities turned negative at -320,184,257.48 RMB, compared to a positive 1,098,242,648.02 RMB in the previous period[28] - The net increase in cash and cash equivalents was negative at -1,117,572,631.21 RMB, a significant reversal from the previous positive 914,188,860.03 RMB[28] - Ending cash and cash equivalents balance dropped sharply to 777,778,960.59 RMB, down from 3,314,468,818.09 RMB[28] R&D and Sales Expenses - R&D expenses increased to 564,770,536.84 RMB, up from 558,324,364.38 RMB in the previous year[18] - Sales expenses decreased slightly to 2,209,020,849.25 RMB from 2,228,496,399.34 RMB in the previous year[18] - R&D expenses increased to 358,427,153.35 RMB, up from 319,711,789.99 RMB in the same period last year[25] Comprehensive Income and Other Financial Metrics - Comprehensive income for the first three quarters of 2024 reached 810,680,787.13 RMB, a decrease from 908,583,220.60 RMB in the same period of 2023[19] - Other comprehensive income showed a loss of 16,716,055.77 RMB, compared to a loss of 125,431,237.62 RMB in the same period last year[26] - Financial expenses showed a net income of 11,737,585.61 RMB, compared to a net income of 1,968,883.70 RMB in the previous year[18] Business Operations and Acquisitions - Pharmaceutical industrial revenue increased by 2.18%, while pharmaceutical commercial revenue decreased by 25.36%[4] - The company completed the acquisition of Tasly Healthcare Deutschland GmbH in October 2023, leading to adjustments in comparative financial data[4]