Porton(300363)2024-10-24 08:07Revenue and Profit - Q3 revenue reached 773.16 million yuan, a year-on-year increase of 10.73%[2] - Net profit attributable to shareholders was -36.39 million yuan, a year-on-year decrease of 187.72%[2] - Revenue for the first nine months of 2024 was RMB 2.125 billion, a decrease of approximately 30% year-over-year, but a 6% increase after excluding the impact of large orders[13] - Q3 2024 revenue was RMB 773 million, an 11% year-over-year increase, and a 29% increase after excluding the impact of large orders[13] - Small molecule API CDMO business revenue for the first nine months of 2024 was RMB 1.968 billion, a 33% decrease year-over-year, but a 3% increase after excluding large orders[13] - Small molecule drug product CDMO business revenue for the first nine months of 2024 was RMB 101 million, a 65% year-over-year increase[13] - Gene and cell therapy CDMO business revenue for the first nine months of 2024 was RMB 40.02 million, a 27% year-over-year increase[13] - Overseas customer revenue for the first nine months of 2024 was RMB 1.548 billion, a 37% decrease year-over-year, but a 10% increase after excluding large orders[13] - Domestic market revenue for the first nine months of 2024 was RMB 578 million, a 2% decrease year-over-year[13] - Gross margin for the first nine months of 2024 was approximately 23%, with overseas market gross margin at 35% and domestic market gross margin at -8%[13] - Net profit attributable to shareholders for the first nine months of 2024 was RMB -206 million, a significant year-over-year decline[13] - Total operating income decreased from 3.037 billion to 2.125 billion, a decline of 30.02%[18] - Net profit turned from a profit of 362.44 million to a loss of 266.86 million[18] - Net profit attributable to parent company shareholders was -206.43 million yuan, compared to 451.86 million yuan in the same period last year[19] - Comprehensive income attributable to parent company shareholders was -211.65 million yuan, compared to 446.32 million yuan in the same period last year[19] - Basic earnings per share were -0.38 yuan, compared to 0.83 yuan in the same period last year[19] Assets and Liabilities - Total assets decreased by 4.93% to 8.92 billion yuan compared to the end of the previous year[2] - Total assets decreased from 9.384 billion to 8.922 billion, a decline of 4.92%[16] - Total liabilities decreased from 3.284 billion to 3.369 billion, an increase of 2.58%[16] - Total equity decreased from 6.100 billion to 5.553 billion, a decline of 8.97%[17] Cash Flow - Operating cash flow for the first nine months was 243.37 million yuan, a year-on-year decrease of 74.07%[2] - Cash flow from operating activities was 243.37 million yuan, a decrease from 938.41 million yuan in the same period last year[20] - Cash flow from investing activities was -429.35 million yuan, compared to -890.12 million yuan in the same period last year[21] - Cash flow from financing activities was -380.14 million yuan, compared to -477.02 million yuan in the same period last year[21] - Net cash received from sales of goods and services was 2.07 billion yuan, a decrease from 3.88 billion yuan in the same period last year[20] - Cash paid for employee compensation was 894.30 million yuan, a decrease from 1.18 billion yuan in the same period last year[21] - Cash paid for taxes was 90.63 million yuan, a decrease from 232.97 million yuan in the same period last year[21] - Net increase in cash and cash equivalents was -569.54 million yuan, compared to -409.47 million yuan in the same period last year[21] Expenses and Costs - R&D expenses decreased by 37.34% to 266.46 million yuan compared to the same period last year[6] - Financial expenses increased by 281.20% to 40.96 million yuan due to reduced interest income and increased borrowing costs[6] - Income tax expenses decreased by 144.40% to -31.31 million yuan due to reduced profitability[6] - Total operating costs decreased from 2.627 billion to 2.401 billion, a decline of 8.60%[18] - R&D expenses decreased from 425.22 million to 266.46 million, a decline of 37.34%[18] - Sales expenses increased from 107.47 million to 112.96 million, an increase of 5.11%[18] - Management expenses decreased from 437.65 million to 331.79 million, a decline of 24.19%[18] - Financial expenses increased from -22.60 million to 40.96 million[18] Accounts Receivable and Prepaid Expenses - Accounts receivable financing increased by 136.20% to 14.34 million yuan due to an increase in bank acceptance bills[4] - Prepaid expenses increased by 39.01% to 64.92 million yuan due to higher prepayments for materials[4] - Contract liabilities increased by 44.91% to 83.32 million yuan due to higher advance payments from customers[4] Sales and Tax Refunds - Sales revenue from goods and services decreased by 46.70% to 2,070,137,497.35 yuan compared to the same period last year[7] - Tax refunds received decreased by 28.57% to 124,371,555.76 yuan due to reduced export tax refunds[7] - Cash received from other operating activities decreased by 62.49% to 149,274,510.55 yuan due to reduced recovery of other receivables[7] - Cash paid for goods and services decreased by 48.60% to 943,060,833.65 yuan due to reduced payments for procurement[7] - Cash paid for taxes decreased by 61.10% to 90,633,429.60 yuan due to reduced tax payments[7] - Cash paid for other operating activities decreased by 36.88% to 172,427,619.62 yuan due to reduced operating expenses[7] - Cash paid for construction of fixed assets and intangible assets decreased by 54.19% to 414,943,956.26 yuan due to reduced investments[7] - Cash received from borrowings decreased by 72.63% to 171,978,876.46 yuan due to reduced new bank loans[7] - Cash paid for debt repayment decreased by 62.53% to 156,456,966.74 yuan due to reduced bank loan repayments[8] - Cash paid for dividends and interest decreased by 49.86% to 309,720,426.98 yuan due to reduced dividend distributions[8] Guidance and Future Outlook - The company maintains its full-year revenue growth guidance (excluding large orders) based on the delivery schedule of existing orders[13]