望变电气(603191) - 2024 Q3 - 季度财报

Financial Performance - The company's operating revenue for the third quarter was approximately ¥948.99 million, representing a year-on-year increase of 29.32%[2]. - The net profit attributable to shareholders decreased by 69.34% in the third quarter, amounting to approximately ¥18.92 million, and a decrease of 75.11% year-to-date, totaling ¥53.71 million[2][6]. - The basic earnings per share for the third quarter was ¥0.06, down 68.42% year-on-year, and year-to-date it was ¥0.16, down 75.38%[2][6]. - The company achieved a total operating revenue of RMB 2.32 billion in the first nine months of 2024, representing a year-on-year growth of 20.51%[11]. - Total operating revenue for the first three quarters of 2024 reached CNY 2,374,381,716.56, an increase of 20.6% compared to CNY 1,968,686,535.54 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 was CNY 62,473,486.34, a decrease of 71.0% compared to CNY 215,783,546.43 in 2023[16]. - The total revenue for the first three quarters of 2024 was approximately CNY 1.93 billion, a slight decrease from CNY 1.94 billion in the same period of 2023, representing a decrease of about 0.08%[24]. - The operating profit for the first three quarters of 2024 was CNY 49.24 million, significantly lower than CNY 252.17 million in the same period of 2023, indicating a decline of approximately 80.5%[26]. - The net profit for the first three quarters of 2024 was CNY 22.72 million, down from CNY 218.10 million in the same period of 2023, reflecting a decrease of about 89.6%[26]. Cash Flow and Liquidity - The net cash flow from operating activities for the third quarter was negative at approximately -¥68.70 million, a decline of 157.55% compared to the same period last year[2]. - The company's cash and cash equivalents were reported at RMB 1.01 billion, down from RMB 1.37 billion at the end of 2023[12]. - The net cash flow from operating activities was negative at CNY -364,071,490.75, compared to a positive CNY 71,088,805.19 in the previous year[19]. - Cash inflow from operating activities totaled CNY 1,739,259,026.01, while cash outflow was CNY 2,103,330,516.76[19]. - The cash flow from operating activities for the first three quarters of 2024 showed a significant decline compared to the previous year, reflecting challenges in cash generation[27]. - Total cash inflow from operating activities was 1,358,510,290.39 RMB, down from 1,441,563,381.85 RMB year-over-year[28]. - Cash outflow from operating activities increased to 1,617,927,275.94 RMB, compared to 1,341,502,258.44 RMB in the previous year[28]. - The company reported a net decrease in cash and cash equivalents of -1,006,451,930.29 RMB, contrasting with an increase of 218,683,033.42 RMB in the same period of 2023[29]. - The ending balance of cash and cash equivalents was 184,588,307.69 RMB, down from 1,092,423,787.91 RMB at the end of the previous year[29]. Assets and Liabilities - Total assets increased by 31.79% year-on-year, reaching approximately ¥6.43 billion, primarily due to the acquisition of Yunbian Electric[3][6]. - As of September 30, 2024, total assets amounted to RMB 6.43 billion, an increase from RMB 4.88 billion at the end of 2023[12]. - The company's total liabilities increased to CNY 3,878,532,125.15, up from CNY 2,484,433,470.22 in the previous year, reflecting a growth of 56.2%[14]. - The total liabilities increased to CNY 3.04 billion in the third quarter of 2024, compared to CNY 2.39 billion in the same period of 2023, marking an increase of about 27.4%[23]. - The total equity attributable to shareholders increased slightly by 0.74% year-on-year, totaling approximately ¥2.41 billion[3]. - The total equity attributable to shareholders reached CNY 2,408,477,077.54, compared to CNY 2,390,808,456.94 in the previous year, showing a slight increase of 0.7%[14]. - The total equity as of the end of the third quarter of 2024 was CNY 2.39 billion, a slight decrease from CNY 2.40 billion in the same period of 2023, reflecting a decline of about 0.4%[23]. Segment Performance - The revenue from the power distribution and control equipment segment accounted for 58% of total revenue, with a year-on-year growth of 38.62%[11]. - The gross profit margin for the power distribution and control equipment segment increased by 1.04% year-on-year, reaching 16.02%[10]. - The revenue from the oriented silicon steel segment accounted for 42% of total revenue, with a year-on-year growth of 1.78%[11]. - The gross profit margin for the oriented silicon steel segment decreased by 18.82% year-on-year, with a current margin of 6.41%[10]. - The company reported a significant decline in gross profit margin for the oriented silicon steel business, leading to a decrease in total profit and net profit[6]. Research and Development - Research and development expenses for the first three quarters were CNY 32,207,154.22, up from CNY 23,083,230.40 in 2023, indicating a growth of 39.5%[15]. - The company's research and development expenses for the first three quarters of 2024 were CNY 22.18 million, slightly lower than CNY 22.56 million in the same period of 2023[26]. Borrowings and Financial Expenses - The company's short-term borrowings amounted to CNY 230,688,733.43, a decrease from CNY 264,252,578.55 in the previous period[14]. - The company raised CNY 976,177,376.60 in borrowings during the period, compared to CNY 549,497,362.50 in the previous year[20]. - The company reported a financial expense of CNY 670,542.11, a significant improvement from a financial income of CNY -12,074,199.62 in the previous year[16]. - The long-term borrowings as of the end of the third quarter of 2024 were CNY 1.16 billion, up from CNY 642.57 million in the same period of 2023, indicating an increase of approximately 80.5%[23]. Government Subsidies - The company received government subsidies amounting to approximately ¥6.24 million during the reporting period[5].