Chunqiu ET(603890)2023-10-27 16:00Revenue and Profit Performance - Revenue for the third quarter of 2023 decreased by 23.34% year-over-year to RMB 918.06 million[8] - Total revenue for the first three quarters of 2023 was 2.334 billion RMB, a decrease of 23.3% compared to 3.045 billion RMB in the same period of 2022[22] - Net profit attributable to shareholders of the listed company for the third quarter of 2023 decreased by 66.21% year-over-year to RMB 25.58 million[8] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses for the third quarter of 2023 decreased by 72.15% year-over-year to RMB 25.65 million[8] - Net profit for the first three quarters of 2023 was -9.37 million RMB, a significant decline from 188.94 million RMB in the same period of 2022[23] - Operating profit for the first three quarters of 2023 was 25.19 million RMB, a sharp decrease from 230.99 million RMB in the same period of 2022[22] - Basic earnings per share dropped to 0.02 RMB in the first three quarters of 2023, compared to 0.45 RMB in the same period of 2022[23] - Sales revenue from goods and services in the first three quarters of 2023 was RMB 2,654,449,195.90, a decrease of 19.97% compared to RMB 3,316,503,144.68 in the same period of 2022[26] Assets and Liabilities - Total assets as of the end of the third quarter of 2023 increased by 9.72% compared to the end of the previous year to RMB 5.695 billion[8] - Total assets increased to 5,695,339,468.51 RMB from 5,190,845,965.83 RMB compared to the end of 2022[17] - Total assets increased to 5.695 billion RMB in Q3 2023, up from 5.191 billion RMB in the previous year[19] - Total liabilities increased to 2.847 billion RMB in Q3 2023, up from 2.404 billion RMB in the previous year[19] - Total equity (including minority interests) reached 2.848 billion RMB in Q3 2023, compared to 2.787 billion RMB in the previous year[19] - Total monetary funds increased to 779,350,442.04 RMB from 463,192,851.03 RMB compared to the end of 2022[17] - Accounts receivable decreased to 1,015,580,359.28 RMB from 1,202,959,232.33 RMB compared to the end of 2022[17] - Inventory increased to 859,401,068.15 RMB from 804,770,625.40 RMB compared to the end of 2022[17] - Short-term borrowings decreased to 623,169,208.76 RMB from 754,682,950.74 RMB compared to the end of 2022[18] - Total current liabilities decreased to 1,944,085,146.98 RMB from 2,021,062,286.66 RMB compared to the end of 2022[18] - Long-term borrowings increased to 62,058,548.63 RMB from 58,353,462.65 RMB compared to the end of 2022[18] - Bonds payable increased significantly to 653,630,763.21 RMB from 167,413,789.89 RMB compared to the end of 2022[18] - Deferred income rose to 118.59 million RMB in Q3 2023, compared to 108.84 million RMB in the previous year[19] Cash Flow and Financing Activities - The net cash flow from operating activities for the first three quarters of 2023 increased by 146.48% year-over-year to RMB 360.18 million[12] - Net cash flow from operating activities in the first three quarters of 2023 was RMB 360,176,376.79, an increase of 146.5% compared to RMB 146,130,039.28 in the same period of 2022[26] - The company's investment activities resulted in a net cash outflow increase of 74.38% due to payments for financial products, construction in progress, and equipment[12] - Net cash flow from investing activities in the first three quarters of 2023 was RMB -399,939,090.17, a decrease of 74.4% compared to RMB -229,355,256.18 in the same period of 2022[27] - The company's net cash flow from financing activities increased by 3,710.86% due to the issuance of convertible bonds[12] - Net cash flow from financing activities in the first three quarters of 2023 was RMB 387,997,133.38, an increase of 3711.5% compared to RMB 10,181,363.17 in the same period of 2022[27] - Cash received from borrowings in the first three quarters of 2023 was RMB 524,353,987.97, a decrease of 53.5% compared to RMB 1,126,596,324.97 in the same period of 2022[27] - Net increase in cash and cash equivalents in the first three quarters of 2023 was RMB 353,919,259.70, compared to a net decrease of RMB 51,359,900.64 in the same period of 2022[27] - Ending cash and cash equivalents balance as of September 30, 2023 was RMB 750,898,819.41, an increase of 19.6% compared to RMB 627,751,344.65 as of September 30, 2022[27] - Cash received from tax refunds in the first three quarters of 2023 was RMB 120,441,436.51, a decrease of 43.2% compared to RMB 212,092,092.75 in the same period of 2022[26] - Cash paid for goods and services in the first three quarters of 2023 was RMB 1,772,425,887.29, a decrease of 35.2% compared to RMB 2,734,209,758.70 in the same period of 2022[26] - Cash paid for investments in the first three quarters of 2023 was RMB 736,137,248.00, an increase of 167.7% compared to RMB 275,000,000.00 in the same period of 2022[27] Shareholder and Equity Information - Total number of ordinary shareholders at the end of the reporting period is 24,331[14] - The largest shareholder, Xue Huawen, holds 144,380,880 shares, representing 32.89% of the total shares[14] - Minority shareholders' comprehensive income loss widened to -19.67 million RMB in the first three quarters of 2023, compared to -9.04 million RMB in the same period of 2022[23] Financial Expenses and Investments - The company issued convertible bonds worth RMB 570 million during the reporting period, leading to a 290.43% increase in bonds payable[11] - The company's strategic investment in Huaxin shares resulted in a 100% increase in trading financial assets[11] - The company's financial expenses increased by 212.72% due to the interest on convertible bonds[12] - R&D expenses decreased to 109.02 million RMB in the first three quarters of 2023, down from 132.71 million RMB in the same period of 2022[22]