THDB(600867)2024-10-24 07:33Financial Performance - Total revenue for Q3 2024 was ¥707,707,693.34, a decrease of 2.41% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥164,117,818.68, down 40.40% year-on-year[2]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥148,366,081.77, a decline of 46.46% compared to the previous year[2]. - Basic earnings per share for Q3 2024 was ¥0.08, down 42.86% year-on-year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 1,447,720,331.65, a decrease of approximately 30.8% compared to CNY 2,091,494,803.06 in the same period of 2023[18]. - Net profit for the first three quarters of 2024 was a loss of CNY 66,433,975.66, compared to a profit of CNY 760,430,940.61 in the same period of 2023[19]. - Total profit for the first three quarters of 2024 was a loss of CNY 115,162,628.72, compared to a profit of CNY 878,536,336.02 in the same period of 2023[19]. - Basic and diluted earnings per share for the first three quarters of 2024 were both CNY -0.03, compared to CNY 0.38 in the same period of 2023[20]. Cash Flow and Assets - Cash flow from operating activities for the year-to-date was ¥225,162,475.15, a decrease of 52.41%[3]. - Cash flow from operating activities generated CNY 225,162,475.15, a decline of 52.4% compared to CNY 473,177,711.72 in the same period of 2023[21]. - Cash and cash equivalents dropped significantly from 1,104,204,462.65 yuan to 332,825,326.83 yuan, a decrease of about 69.9%[15]. - The ending balance of cash and cash equivalents was 662,331,704.31 at the end of the previous period[22]. - The net increase in cash and cash equivalents was -125,731,126.67 in the previous period[22]. - Total assets at the end of the reporting period were ¥7,124,641,369.15, a decrease of 8.32% from the end of the previous year[3]. - The company’s total current assets decreased from 2,816,354,808.02 yuan as of December 31, 2023, to 1,957,952,714.18 yuan as of September 30, 2024, a decline of approximately 30.5%[15]. - Total assets decreased from 7,771,366,505.90 yuan to 7,124,641,369.15 yuan, a decline of approximately 8.3%[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 96,539[8]. - The largest shareholder, Dongbao Industrial Group Co., Ltd., holds 591,699,387 shares, accounting for 29.86% of total shares[10]. - The top ten shareholders include Tianjin Zhenyi Equity Investment Partnership with 183,058,967 shares (9.24%) and Abu Dhabi Investment Authority with 31,836,912 shares (1.61%)[10]. - The company has not disclosed any other related party relationships among shareholders beyond the controlling shareholder and actual controller[10]. Share Repurchase and Equity Changes - The company repurchased 15,077,817 shares, representing 0.76% of the total share capital, at a total cost of approximately RMB 119.99 million[12]. - The second phase of share repurchase involved 17,329,198 shares, accounting for 0.87% of total share capital, with a total transaction amount of approximately RMB 131.75 million[13]. - The company plans to use its own funds for share repurchase at a price not exceeding RMB 12 per share, with a total fund amount between RMB 18 million and RMB 20 million for the second phase[13]. - The company’s share repurchase plan is aimed at employee stock ownership plans and equity incentives[12]. - The controlling shareholder, Dongbao Group, plans to increase its stake in the company by an amount not less than 40 million yuan and not exceeding 60 million yuan within six months starting from July 11, 2024[14]. - Chairman Li Jiahong has already increased his shareholding by 5,279,900 shares, amounting to 41,441,935.10 yuan, which represents 0.27% of the total share capital[14]. - The chairman of the supervisory board, Wang Junye, plans to increase his stake by an amount between 3 million yuan and 5 million yuan within six months starting from July 16, 2024[14]. Expenses and Liabilities - Total operating costs increased to CNY 1,368,736,419.93, up 8.3% from CNY 1,263,658,164.35 in the previous year[18]. - Sales expenses increased to CNY 788,404,796.79, up 24.5% from CNY 633,667,154.53 in the previous year[18]. - Research and development expenses rose to CNY 75,087,241.78, an increase of 14.0% from CNY 65,832,967.50 in the previous year[18]. - Total liabilities increased from 555,081,986.78 yuan to 693,870,050.19 yuan, an increase of about 24.9%[17]. - The company’s equity attributable to shareholders decreased from 7,211,198,787.69 yuan to 6,425,747,135.39 yuan, a decline of approximately 10.9%[17]. Operational Challenges - The significant decrease in revenue was primarily due to inventory control and adjustments before the implementation of centralized procurement for insulin injection products[6]. - The company terminated the research and development project for soluble insulin injection (THDB0207), leading to recognized losses related to capitalized R&D expenses[7]. - The net profit for the year-to-date showed a dramatic decline of 108.73% due to reduced revenue and increased sales expenses[6].