JIN LEI(300443)2024-10-29 11:22Financial Performance - Revenue for Q3 2024 was RMB 600.12 million, an increase of 11.50% year-over-year[3] - Net profit attributable to shareholders in Q3 2024 was RMB 75.07 million, a decrease of 40.54% year-over-year[3] - Operating cash flow for the first nine months of 2024 was RMB 227.93 million, an increase of 47.14% year-over-year[3] - Tax refunds received in the first nine months of 2024 increased by 315.31% to RMB 183.02 million[7] - The company's operating income for the current period was RMB 1,313,307,066.26, slightly lower than the previous period's RMB 1,336,296,099.41[19] - Net profit decreased to 149.2 million yuan from 326.92 million yuan, a decline of 54.4%[20] - Operating cash flow increased to 227.93 million yuan from 154.91 million yuan, a growth of 47.1%[21] - Sales revenue from goods and services was 1.23 billion yuan, down from 1.27 billion yuan, a decrease of 3.7%[21] - Earnings per share (basic and diluted) decreased to 0.4613 yuan from 1.1553 yuan, a decline of 60.1%[21] Assets and Liabilities - Total assets as of the end of Q3 2024 were RMB 6.59 billion, a decrease of 5.99% compared to the end of the previous year[3] - The company's total assets as of the end of the reporting period were RMB 6,587,426,731.89, a decrease from RMB 7,006,990,361.02 at the beginning of the period[16][18] - The company's total liabilities decreased to RMB 498,770,489.76 from RMB 882,735,587.69 at the beginning of the period[17][18] - The company's fixed assets increased to RMB 2,371,682,593.97 from RMB 2,251,878,853.89 at the beginning of the period[17] - The company's accounts receivable increased to RMB 824,881,648.27 from RMB 734,285,377.73 at the beginning of the period[16] - The company's inventory increased to RMB 796,138,685.89 from RMB 692,196,931.54 at the beginning of the period[16] Expenses and Costs - Sales expenses increased by 56.54% to RMB 11.80 million due to the expansion of the sales team for precision shafts and castings[7] - The company's operating costs increased to RMB 1,160,806,379.56 from RMB 994,152,414.41 in the previous period[19] - Management expenses increased to 72.36 million yuan from 65.28 million yuan, a rise of 10.8%[20] - R&D expenses rose to 61.78 million yuan from 53.73 million yuan, an increase of 15%[20] - Interest income increased to 19.49 million yuan from 17.80 million yuan, a rise of 9.5%[20] - Other income rose to 11.92 million yuan from 7.48 million yuan, an increase of 59.4%[20] Shareholder and Ownership Information - The top 10 shareholders of Jinlei Technology Co., Ltd. hold a significant portion of the company's shares, with the largest shareholder, Yiting Lei, holding 25,665,584 shares, representing a substantial stake in the company[9] - The company's shares are widely held by various institutional investors, including funds managed by China Construction Bank, China Life Asset Management, and Shenzhen Dachen Fortune Capital, indicating strong institutional confidence in the company[9] - The company's shares are also held by individual investors, such as Wang Shichun, who holds 2,296,015 shares, showing a diverse shareholder base[9] - The company's shares are subject to lock-up agreements, with a significant portion of shares being locked up until January 3, 2024, indicating a commitment to long-term stability[12] - The company's shares are traded on the open market, with a significant portion of shares being held by the Hong Kong Securities Clearing Company Limited, indicating a strong presence in the Hong Kong market[9] - The company's shares are subject to margin trading and securities lending, with a small portion of shares being lent out, indicating a healthy level of liquidity in the market[10] - The company's shares are subject to changes in ownership due to the transfer of shares through the stock lending mechanism, with some shareholders adding or exiting their positions during the reporting period[11] Share Repurchase and Capital Reduction - The company plans to repurchase shares with a total amount between RMB 80 million and RMB 120 million, at a price not exceeding RMB 31 per share, to be completed within 3 months[14] - As of June 30, 2024, the company has repurchased 5,319,300 shares, accounting for 1.63% of the total shares, with a total transaction amount of RMB 100,156,976.92[14] - The repurchased shares will be canceled, and the company has completed the reduction of registered capital by October 9, 2024[15] Cash Flow and Investments - Total cash outflow from investing activities was 253.27 million yuan, a decrease from 443.52 million yuan in the previous period[22] - Net cash flow from investing activities was -184.79 million yuan, compared to -434.15 million yuan in the previous period[22] - Cash inflow from financing activities totaled 25.46 million yuan, a significant decrease from 2.76 billion yuan in the previous period[22] - Net cash flow from financing activities was -531.06 million yuan, compared to 1.67 billion yuan in the previous period[22] - The net increase in cash and cash equivalents was -484.85 million yuan, compared to 1.39 billion yuan in the previous period[22] - The ending balance of cash and cash equivalents was 1.24 billion yuan, down from 1.85 billion yuan in the previous period[22] Government Subsidies and Financial Expenses - Government subsidies received during Q3 2024 amounted to RMB 3.47 million[4] - The company's financial expenses decreased by 88.38% to RMB -19.14 million due to reduced interest expenses[7] Contract Assets and Warranty Deposits - The company's contract assets increased by 41.14% to RMB 59.80 million due to an increase in warranty deposits[7] Short-term Borrowings - The company's short-term borrowings decreased by 99.08% to RMB 3.30 million due to repayment of loans[7] Audit Status - The company's third-quarter report was unaudited[22]