TTC(600326)2024-10-29 11:34Financial Performance - The company's operating revenue for Q3 2024 was ¥868,958,024.02, a decrease of 16.21% compared to the same period last year[2]. - The net profit attributable to shareholders was ¥1,349,667.21, while the net profit for the year-to-date was -¥65,969,619.78[2]. - The company's total revenue for the first nine months of 2024 was CNY 2,044.29 million, a decrease of CNY 764.60 million compared to CNY 2,808.89 million in the same period of 2023[11]. - The construction segment's revenue decreased by CNY 342.42 million year-on-year, primarily due to the completion of existing projects and limited new projects[11]. - Revenue decreased due to delayed project commencement, with a year-on-year reduction of RMB 191.37 million attributed to various projects not starting on time[12]. - Net profit attributable to shareholders for the first nine months of 2024 was a loss of RMB 65.97 million, an improvement of RMB 203.29 million compared to a loss of RMB 269.25 million in the same period last year[13]. - The construction segment reported a net loss of RMB 12.44 million, primarily due to insufficient project increments and rising operational costs[14]. - The building materials segment experienced a net profit of RMB 5.46 million, with a significant decline in revenue of RMB 152.7 million year-on-year due to decreased sales volume and prices[13]. Cash Flow - The net cash flow from operating activities for Q3 2024 was ¥103,633,795.84, showing an increase of 71.26% year-to-date[2]. - The company's cash flow from operating activities increased by CNY 71.26 million, attributed to a reduction in cash expenditures related to operating activities[7]. - Cash flow from operating activities increased by 71.26% to RMB 151.43 million, compared to RMB 88.42 million in the previous year[14]. - The company's cash flow from operating activities showed a significant improvement, with a net cash outflow of CNY 51,358,759.47 in Q3 2024 compared to a net outflow of CNY 203,949,466.00 in Q3 2023[21]. - The cash inflow from operating activities totaled CNY 2,517,112,692.96, a decrease of 19.8% compared to CNY 3,138,868,447.89 in the same period of 2023[23]. - The net cash flow from operating activities for the third quarter of 2024 was CNY 151,430,124.73, an increase of 71.2% from CNY 88,421,857.47 in the third quarter of 2023[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥12,885,346,295.53, a decrease of 6.03% from the end of the previous year[3]. - The total assets decreased to RMB 12.89 billion from RMB 13.71 billion, reflecting a reduction in both current and non-current assets[16]. - The company's total liabilities decreased to CNY 7,041,365,512.70 in Q3 2024 from CNY 8,132,108,285.01 in Q3 2023, a reduction of 13.4%[18]. - The total current liabilities decreased to CNY 2,502,378,411.95 from CNY 2,890,646,802.15 in the previous year[26]. - The long-term borrowings decreased to CNY 470,973,249.00 from CNY 739,760,642.52 in the previous year[26]. Equity and Earnings - The equity attributable to shareholders increased by 7.63% year-on-year, reaching ¥3,812,661,871.42[3]. - The basic earnings per share for Q3 2024 was ¥0.0006, a decrease of 98.05% compared to the same period last year[3]. - The basic and diluted earnings per share for the third quarter of 2024 were both negative CNY 0.0305, compared to negative CNY 0.2058 in the same quarter of 2023, indicating a reduction in losses per share[31]. - The total equity attributable to shareholders increased to CNY 3,812,661,871.42 in Q3 2024 from CNY 3,542,306,976.60 in Q3 2023, an increase of 7.6%[18]. Research and Development - The company’s research and development expenses decreased by 34.43% due to a reduction in research projects and expenditures[7]. - Research and development expenses for the first three quarters of 2024 were CNY 40,482,051.60, down from CNY 61,741,722.02 in the same period of 2023, a decrease of 34.4%[19]. - Research and development expenses significantly decreased from CNY 21,661,819.75 in 2023 to CNY 567,865.03 in 2024, a reduction of approximately 97.4%[28]. Other Income and Expenses - Non-recurring gains and losses for the current period totaled -¥4,093,886.97, with significant contributions from government subsidies and financial asset disposals[5]. - The company's other income increased by CNY 1,106.29 million, mainly due to the transfer of central subsidies and advanced manufacturing deductions[7]. - The company incurred asset impairment losses of CNY 236.00 million, mainly due to the recovery of contract asset guarantees in the construction segment[7]. - The company reported investment income of CNY 21,671,793.94 for the first three quarters of 2024, slightly down from CNY 22,036,761.71 in the same period of 2023[30]. - The financial expenses decreased from CNY 85,806,073.03 in 2023 to CNY 59,093,100.41 in 2024, a reduction of about 31.1%[28]. Market Conditions - The company faced intensified competition in the cement market, leading to a 33.96 million RMB decrease in revenue for its subsidiaries in the building materials sector[12]. - The company has adopted new accounting standards starting in 2024, which may affect financial reporting[34].