LEEJUN(002651)2023-10-29 16:00Financial Performance - The company's revenue for Q3 2023 reached ¥238,315,433.54, representing a 44.25% increase compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2023 was ¥44,258,147.61, up 30.46% year-on-year[5] - The net profit after deducting non-recurring gains and losses for Q3 2023 was ¥43,145,061.41, reflecting a 29.24% increase from the previous year[5] - The company's basic earnings per share for Q3 2023 was ¥0.04, an increase of 33.33% compared to the same period last year[5] - The weighted average return on equity for the year-to-date period was 8.52%, an increase of 2.93% compared to the previous year[5] - The revenue for the first nine months of 2023 was ¥869,928,511.87, which is a 48.59% increase compared to the same period in 2022[11] - The company reported total operating revenue of CNY 869,928,511.87 for the current period, an increase of 48.7% compared to CNY 585,464,624.91 in the previous period[27] - The net profit for Q3 2023 was CNY 229,995,605.39, an increase of 69.9% compared to CNY 135,486,546.04 in Q3 2022[28] - Operating profit reached CNY 269,424,515.20, up from CNY 158,735,846.89, reflecting a growth of 69.7% year-over-year[28] - Basic and diluted earnings per share increased to CNY 0.22 from CNY 0.13, representing a growth of 69.2%[28] - The total comprehensive income for Q3 2023 was CNY 234,155,186.62, compared to CNY 144,456,463.11 in Q3 2022, marking an increase of 62.1%[28] Cash Flow and Investments - The company's operating cash flow for the year-to-date period increased significantly by 319.85%, totaling ¥188,263,436.67[5] - Net cash flow from operating activities increased by 319.85% to CNY 188,263,436.67, attributed to the release of guarantee deposits for the Sino Iron Pty Ltd project[13] - The company reported a net cash outflow from investing activities of CNY -158,726,000.43, compared to a net inflow of CNY 442,761,541.15 in the previous year[30] - The cash and cash equivalents at the end of the period stood at CNY 988,003,349.04, a decrease from CNY 1,012,278,096.55 at the end of Q3 2022[30] - The company's cash and cash equivalents increased to CNY 1,233,536,224.99 as of September 30, 2023, compared to CNY 1,213,730,675.35 at the beginning of the year[24] - The company authorized the use of up to CNY 300 million of idle funds for cash management, allowing for flexible investment decisions[18] - The company has authorized a credit facility of up to CNY 200 million with HSBC and CNY 100 million with China Merchants Bank, enhancing its financial flexibility[21] Assets and Liabilities - The total assets as of September 30, 2023, amounted to ¥3,345,687,589.60, a decrease of 3.50% from the end of the previous year[5] - The company’s total assets decreased to CNY 3,345,687,589.60 from CNY 3,468,469,007.07 at the beginning of the year, reflecting a decline of 3.5%[26] - The company’s non-current assets totaled CNY 1,154,501,253.44, an increase from CNY 1,031,258,462.14 at the beginning of the year[25] - The company’s retained earnings increased to CNY 964,873,117.15 from CNY 776,215,911.76, showing a growth of 24.2%[26] - The company’s total liabilities decreased, contributing to improved financial stability, although specific figures were not disclosed in the report[31] Operational Highlights - The company reported a significant increase in accounts receivable by 59.63% due to revenue recognition from completed aerospace component manufacturing projects[10] - Operating revenue increased significantly, leading to a 47.32% rise in operating costs to CNY 507,513,012.40 compared to the previous year[12] - Sales expenses surged by 137.40% to CNY 54,722,689.14, primarily due to increased sales agent service fees and performance incentives for sales personnel[12] - Other income rose by 246.30% to CNY 20,449,894.89, mainly from VAT refunds and government subsidies related to daily operations[12] - The company plans to continue expanding its aerospace and grinding system businesses, which have shown strong revenue growth[11] Strategic Initiatives - The company plans to invest CNY 50 million in expanding its production facilities, approved in February 2023[17] - The company’s technology center was recognized as a national enterprise technology center in March 2023, enhancing its R&D capabilities[19] - The company approved a foreign exchange hedging business for its subsidiary, with a limit of up to USD 100 million, to manage currency risks[20] - The company approved a plan to purchase office property in Singapore for up to USD 10 million, indicating a strategic move for market expansion[23] - The company released 3.192 million shares under the second phase of its restricted stock incentive plan, which became tradable on September 11, 2023[22]