Xi'an Actionpower Electric (688719)2024-10-23 07:58Financial Performance - The company's operating revenue for Q3 2024 decreased by 4.75% year-on-year, totaling approximately ¥594.47 million[2] - The net profit attributable to shareholders decreased by 92.74% year-on-year, amounting to approximately ¥35.19 million[2] - The net profit after deducting non-recurring gains and losses fell by 93.33% year-on-year, totaling approximately ¥25.85 million[2] - Basic and diluted earnings per share decreased by 95.24% year-on-year, reported at ¥0.31 per share[2] - The net profit attributable to shareholders for the year-to-date period decreased by 61.15% due to intensified market competition and reduced product gross margins, alongside increased R&D investments[8] - The net profit attributable to shareholders, excluding non-recurring gains and losses, for the current reporting period fell by 93.33%[8] - Basic earnings per share for the current reporting period was -95.24 yuan, reflecting a significant decline in profitability[8] - Net profit for the first three quarters of 2024 was ¥35,193,351.82, down 60% from ¥88,747,108.96 in the same period last year[19] - Basic earnings per share decreased to ¥0.31 from ¥1.05 in the previous year, reflecting a decline of approximately 71%[20] Cash Flow and Investments - The net cash flow from operating activities was negative at approximately -¥33.82 million, a decrease of 912.12% year-on-year[2] - The net cash flow from operating activities for the year-to-date period was -912.12 million yuan, primarily due to an increase in the proportion of notes in customer payments and rising labor costs[8] - Cash flow from operating activities showed a net outflow of ¥33,817,301.04, compared to a net inflow of ¥4,164,056.47 in the same period of 2023[21] - The total cash inflow from investment activities was ¥223,427,561.05, significantly higher than ¥3,000.00 in the previous year[21] - Cash outflow for investment activities reached ¥707,788,354.59, compared to ¥10,929,239.83 in the same period last year[21] - The net cash flow from investing activities was -10.93 million in the previous period[22] - The total cash inflow from financing activities was 1.46 billion in the previous period[22] - The net cash flow from financing activities was -1.29 billion in the previous period[22] - The net increase in cash and cash equivalents was -1.29 billion in the previous period[22] - The ending balance of cash and cash equivalents was 1.35 billion at the end of the previous period[22] Research and Development - Research and development expenses totaled approximately ¥39.82 million in Q3 2024, an increase of 84.48% year-on-year, representing 20.35% of operating revenue[4] - Total R&D expenditure for the current reporting period was 84.48 million yuan, indicating the company's ongoing commitment to product development[8] - Research and development expenses surged to ¥102,290,286.24, a significant increase of 75% compared to ¥58,479,859.35 in 2023[19] - The company continues to focus on R&D as a key strategy for future growth despite current financial challenges[8] Assets and Liabilities - Total assets as of the end of the reporting period were approximately ¥2.35 billion, an increase of 2.33% compared to the end of the previous year[4] - The company's cash and cash equivalents decreased to RMB 602,025,979.55 from RMB 1,165,984,792.49, representing a decline of about 48.3%[13] - The total liabilities increased to RMB 582,506,962.87 from RMB 458,179,289.48, marking an increase of approximately 27.2%[17] - The company's accounts receivable rose to RMB 518,989,583.78 from RMB 442,643,884.06, indicating an increase of around 17.3%[14] - The inventory level increased to RMB 388,782,594.96 from RMB 313,646,365.47, which is an increase of approximately 24%[14] - The company's long-term equity investments amounted to RMB 42,610,763.50, reflecting a new addition compared to the previous year[14] - The company's total equity attributable to shareholders decreased to RMB 1,763,545,797.37 from RMB 1,824,436,740.38, a decline of approximately 3.3%[17] - The company's non-current assets increased significantly to RMB 394,942,911.54 from RMB 175,496,238.91, indicating a growth of about 125%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,989[9] - The top ten shareholders collectively held 56.67% of the company's shares, with the largest shareholder owning 15.99%[9] - The company repurchased a total of 2,097,310 shares, representing 1.8177% of the total share capital, with a total expenditure of RMB 50,471,850.97[12] - The maximum repurchase price was adjusted to RMB 51.83 per share, with a total repurchase amount ranging from RMB 58.416 million to RMB 116.832 million[12]