CSBM(000158)2024-10-27 07:38Financial Performance - The company's operating revenue for Q3 2024 reached ¥2,093,333,389.43, an increase of 46.68% compared to the same period last year[2] - The net profit attributable to shareholders was -¥40,913,795.65, a decrease of 48.88% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥75,881,049.47, a decrease of 44.00% compared to the previous year[2] - The company's basic earnings per share were -¥0.0256, a decrease of 48.90% compared to the same period last year[2] - The net profit for Q3 2024 was -304,256,207.65 CNY, compared to -152,765,006.98 CNY in Q3 2023, representing a year-over-year increase in net loss of approximately 99.3%[13] - The total comprehensive income for Q3 2024 was -305,819,244.24 CNY, compared to -150,643,507.14 CNY in Q3 2023, marking an increase in comprehensive loss of about 102.5%[14] - The investment income for Q3 2024 showed a loss of -3,990,088.21 CNY, a decline from a gain of 679,452.76 CNY in Q3 2023, indicating a negative shift in investment performance[13] Assets and Liabilities - The total assets at the end of the reporting period were ¥16,573,553,219.98, down 3.98% from the end of the previous year[2] - The company's total assets decreased to ¥16,573,553,219.98 in Q3 2024 from ¥17,259,750,622.20 in Q3 2023, a decline of approximately 4.0%[11] - Current liabilities totaled ¥9,528,517,333.54 in Q3 2024, down from ¥10,006,682,231.57 in Q3 2023, reflecting a decrease of about 4.7%[12] - The company's total liabilities decreased to ¥11,054,315,400.82 in Q3 2024 from ¥11,441,472,970.46 in Q3 2023, a reduction of about 3.4%[12] - The equity attributable to shareholders decreased to ¥5,568,657,730.94 in Q3 2024 from ¥5,854,752,581.58 in Q3 2023, a decline of approximately 4.9%[12] Cash Flow - The cash flow from operating activities was -¥1,538,250,066.47, a decrease of 63.48% year-on-year[5] - The operating cash flow for Q3 2024 was -1,538,250,066.47 CNY, worsening from -940,943,171.25 CNY in the same period last year, reflecting a decline of approximately 63.6%[15] - The cash received from operating activities totaled 6,774,865,527.50 CNY in Q3 2024, compared to 6,147,741,983.31 CNY in Q3 2023, representing an increase of approximately 10.2%[15] - The cash outflow from operating activities was 8,313,115,593.97 CNY in Q3 2024, up from 7,088,685,154.56 CNY in Q3 2023, reflecting an increase of about 17.3%[15] - The company reported a net increase in cash and cash equivalents of -2,137,644,042.97 CNY, compared to -1,115,857,930.52 CNY in the previous year, indicating a decline[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 265,535, with the largest shareholder, Shijiazhuang Changshan Textile Group Co., Ltd., holding 28.60% of shares[6] - The company has no significant changes in the participation of major shareholders in margin financing and securities lending activities[6] Business Strategy and Operations - The company has completed the transfer of assets and personnel related to its textile business to Shijiazhuang Changshan Hengxin Textile Co., Ltd., enhancing operational efficiency[8] - An asset swap plan was approved to divest the textile business and acquire stakes in companies related to new energy and smart city sectors, with the net book value of the assets involved being RMB 7.61 billion for divested assets and RMB 7.83 billion for acquired assets[9] - The company plans to focus on its software business, aiming to improve core competitiveness by integrating related new energy and smart city operations[9] - The company has initiated the sale of a land parcel of 47,017.14 square meters for RMB 704 million, previously used by its cotton division[9] - The company is actively promoting the asset swap transaction and will fulfill information disclosure obligations as progress is made[9] Inventory and Impairment - The company experienced a 278.80% increase in asset impairment losses, primarily due to increased inventory write-downs compared to the previous year[5] - Inventory increased significantly to ¥4,101,361,672.14 in Q3 2024 from ¥2,840,043,259.17 in Q3 2023, representing an increase of about 44.4%[11] Cash and Cash Equivalents - The company's cash and cash equivalents decreased by 91.57% due to reduced cash flow from operating and financing activities[5] - The company's cash and cash equivalents decreased to approximately RMB 1.22 billion from RMB 3.52 billion at the beginning of the period, indicating a significant reduction in liquidity[10] - The cash and cash equivalents at the end of the period totaled 1,057,555,278.47 CNY, compared to 996,306,488.96 CNY at the end of the previous year, showing a year-over-year increase of approximately 6.1%[16] Other Financial Metrics - The total operating costs for Q3 2024 were ¥5,243,408,090.83, up from ¥4,892,711,734.36 in Q3 2023, indicating an increase of about 7.1%[12] - The company's long-term borrowings rose to ¥1,108,507,750.00 in Q3 2024 from ¥851,200,000.00 in Q3 2023, an increase of approximately 30.3%[12] - The company reported a credit impairment loss of -24,501,100.87 CNY in Q3 2024, an improvement from -66,437,633.23 CNY in Q3 2023, indicating a reduction in credit losses[13] - The net investment cash flow for Q3 2024 was 176,482.40 CNY, down from 8,234,419.89 CNY in Q3 2023, showing a significant decrease in cash inflow from investment activities[15] - The total cash inflow from financing activities increased to 3,531,452,022.70 CNY, compared to 3,036,080,849.69 CNY in the same period last year, reflecting a growth of approximately 16.3%[16] - The cash outflow from financing activities rose to 4,061,075,893.02 CNY, up from 3,141,620,988.71 CNY, indicating a significant increase of about 29.3%[16] - The net cash flow from financing activities was -529,623,870.32 CNY, worsening from -105,540,139.02 CNY year-over-year[16] - The company's third-quarter report was not audited, indicating that the financial figures are subject to further verification[16]