JGJC(000799)2024-10-30 12:47Financial Performance - Q3 2024 revenue decreased by 67.24% year-over-year to ¥196,909,961.95, and year-to-date revenue decreased by 44.41% to ¥1,191,058,956.83[2] - Net profit attributable to shareholders was -¥64,532,001.44 for Q3 2024, a decline of 213.67%, and year-to-date net profit was ¥56,487,634.90, down 88.20%[2] - Total operating revenue for Q3 2024 was CNY 1,191,058,956.83, a decrease of 44.4% compared to CNY 2,142,449,940.98 in the same period last year[13] - Net profit for Q3 2024 was CNY 56,487,634.90, a significant decline from CNY 478,717,779.35 in Q3 2023, representing an 88.2% decrease[14] - The total comprehensive income attributable to the parent company for Q3 2024 was CNY 56,487,634.90, compared to CNY 478,717,779.35 for the same period last year[15] - Basic and diluted earnings per share for Q3 2024 were both CNY 0.1738, down from CNY 1.4733 year-over-year[15] Cash Flow and Assets - The company reported a net cash flow from operating activities of -¥411,415,035.55 year-to-date, representing a decline of 817.04%[2] - The company's cash and cash equivalents decreased from CNY 2,361,201,175.92 to CNY 1,341,052,150.70, a decline of approximately 43.2%[10] - Cash inflow from operating activities for Q3 2024 was CNY 1,173,225,469.09, a decrease from CNY 2,057,639,186.77 in the previous year[16] - Net cash outflow from operating activities was CNY -411,415,035.55, compared to a net inflow of CNY 57,376,841.90 in the same period last year[16] - The ending balance of cash and cash equivalents was CNY 1,341,050,350.70, down from CNY 2,485,522,468.02 year-over-year[17] - Total current assets decreased from CNY 4,259,787,342.63 to CNY 3,308,157,333.15, a reduction of approximately 22.3%[10] - The total assets at the end of Q3 2024 were ¥5,046,458,158.91, a decrease of 10.99% 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 143,506[9] - The company has a major shareholder, Zhonghuang Co., Ltd., holding 31.00% of shares[9] - The second-largest shareholder, China Bank Co., Ltd. - CMB Index Fund, holds 4.93% of shares[9] - There are no changes reported in the top 10 shareholders due to securities lending or borrowing activities[10] Inventory and Liabilities - Inventory increased from CNY 1,556,888,541.70 to CNY 1,670,485,190.41, reflecting a growth of about 7.5%[10] - Total liabilities decreased to CNY 1,035,638,811.21 in Q3 2024 from CNY 1,390,579,468.32 in the same period last year, a reduction of 25.5%[12] Strategic Initiatives - The company is undergoing a marketing model transformation, which has led to a significant decline in performance due to weak demand in the liquor industry and cautious repayment willingness from distributors[5] - The company plans to optimize the product value chain and stabilize product prices to boost distributor confidence amid declining industry demand[7] - The focus will be on developing core terminals and enhancing consumer engagement through the BC linkage sales model to drive terminal sales[7] - The company aims to strengthen its presence in the Hunan market and establish model markets outside the province to create localized advantages[8] - The strategy includes concentrating on key products like the Neican Jiachen version and Jiugui Hongtan to refine the product portfolio and enhance brand strength[8] - The company is enhancing its internet and special channel group purchasing capabilities to expand its consumer base and drive sales growth[8] Research and Development - Research and development expenses increased to CNY 16,128,214.07 in Q3 2024, up from CNY 12,677,380.91 in Q3 2023, indicating a growth of 27.5%[13] Accounts Receivable and Prepayments - The company reported accounts receivable of CNY 30,625,047.09, down from CNY 37,538,668.53, a decrease of about 18.4%[10] - The company’s prepayments increased significantly from CNY 13,483,931.04 to CNY 29,595,013.55, an increase of approximately 119.5%[10]