Netac(300042)2024-10-29 12:11Financial Performance - Revenue for Q3 2024 was CNY 172,888,037.80, a decrease of 47.34% compared to the same period last year[2]. - Net profit attributable to shareholders was CNY -37,941,131.04, representing a decline of 127.62% year-over-year[2]. - The basic earnings per share for Q3 2024 was CNY -0.1893, down 127.52% year-over-year[2]. - The weighted average return on equity was -3.53%, a decrease of 2.09% compared to the previous year[2]. - Total operating revenue for the first nine months of 2024 was ¥587.93 million, a decrease of 43.12% compared to ¥1,033.57 million in the same period of 2023[5]. - Total revenue for the current period was RMB 587,929,438.28, down from RMB 1,033,568,624.63 in the previous period, indicating a decline of approximately 43.0%[16]. - The net profit for Q3 2024 was -72,970,567.32 CNY, compared to -38,095,223.39 CNY in Q3 2023, representing a decline of approximately 91% year-over-year[17]. - Operating profit for Q3 2024 was -75,690,873.67 CNY, compared to -36,937,279.94 CNY in the same period last year, indicating a worsening performance[17]. - The total comprehensive income for Q3 2024 was -73,881,728.25 CNY, compared to -34,839,785.13 CNY in Q3 2023, indicating a significant increase in losses[18]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was CNY -21,044,879.79, an increase of 72.64% compared to the previous year[2]. - Cash received from sales of goods and services was ¥653.29 million, down 39.19% from ¥1,074.36 million year-on-year, reflecting a decline in sales revenue[5]. - Cash flow from investment activities decreased by 41.67% to ¥673.94 million, primarily due to a reduction in the maturity of financial products purchased[5]. - The company reported a cash flow from operating activities net amount of -21,044,879.79 CNY, an improvement from -76,917,297.69 CNY in the previous year[19]. - The cash inflow from investment activities was 679,233,940.31 CNY, compared to 1,015,071,643.32 CNY in Q3 2023, showing a decrease of about 33.2%[19]. - The ending balance of cash and cash equivalents was 619,093,543.12 CNY, down from 630,918,285.89 CNY at the beginning of the period[20]. - As of September 30, 2024, total current assets decreased to RMB 940,156,765.72 from RMB 1,090,523,766.87 at the beginning of the period, a decline of approximately 13.8%[12]. - Total assets decreased by 9.70% to CNY 1,239,916,376.79 compared to the end of the previous year[2]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,199[6]. - The largest shareholder, Shaoguan City Urban Investment Development Group Co., Ltd., holds 24.89% of shares, totaling 49,875,000 shares[6]. - The company’s stock structure includes significant holdings by individual shareholders, with the top ten shareholders holding a combined total of 82.64%[6]. Operational Changes and Agreements - The company decided to shut down its subsidiary, Shaoguan Langzheng Data Semiconductor Co., Ltd., to protect the interests of the company and its shareholders[11]. - The company signed a cooperation agreement with Shaoguan Municipal Government and ZTE Corporation to enhance data center construction and digital transformation[8]. - A strategic cooperation framework agreement was signed for the construction of a storage industry base project in the Guangdong-Hong Kong-Macao Greater Bay Area[9]. - The company plans to transfer 25% of its equity in Langke Zhikuan (Shaoguan) Technology Co., Ltd., and after the transaction, it will hold 40% of the shares[10]. - The company completed the construction of a server assembly production line in August 2024[8]. - The company is collaborating with multiple partners to promote the application of domestic high-performance enterprise-level data storage products[9]. - The company’s board approved the transfer of equity to enhance its strategic planning and business development[10]. Expenses and Liabilities - Operating costs decreased by 45.43% to ¥530.07 million from ¥971.30 million year-on-year, primarily due to a decline in product sales revenue[5]. - Financial expenses increased by 233.07% to ¥2.70 million, attributed to higher bank loan amounts compared to the previous year[5]. - Sales expenses increased to 48,992,317.85 CNY from 41,088,861.51 CNY, marking an increase of approximately 17.5% year-over-year[17]. - Total liabilities decreased from RMB 246,547,730.57 to RMB 183,234,172.99, a reduction of about 25.6%[15]. - The company reported a decrease in undistributed profits from RMB 343,072,387.22 to RMB 274,872,126.71, a decline of about 20.0%[15]. Investment and Income - Other income rose by 154.85% to ¥2.61 million, mainly due to an increase in policy subsidies received[5]. - Investment income surged by 302.92% to ¥2.68 million, resulting from the sale of controlling subsidiary equity and retrospective adjustments[5]. - The company recorded investment income of 2,677,806.43 CNY, up from 664,606.98 CNY, representing a growth of over 302%[17].