G-bits(603444)2024-10-24 08:42Revenue and Profit Performance - Revenue for the third quarter was RMB 858.63 million, a decrease of 10.36% year-over-year[3] - Net profit attributable to shareholders was RMB 139.67 million, down 23.82% year-over-year[3] - Total revenue from key games (《问道》端游, 《问道手游》, 《一念逍遥（大陆版）》) for the first nine months was RMB 2.972 billion, a decrease of 17.19% year-over-year[6] - Adjusted net profit attributable to shareholders decreased by 23.06% YoY to 619,538,196.59 RMB for the first nine months of 2024[16] - Net profit attributable to shareholders dropped by 23.48% YoY to 657,501,185.66 RMB for the first nine months of 2024[16] - Q3 2024 revenue declined by 16.83% QoQ and 10.36% YoY to 858,632,540.87 RMB[23] - Q3 2024 net profit attributable to shareholders fell by 47.19% QoQ and 23.82% YoY to 139,673,592.50 RMB[23] - Q3 2024 revenue and net profit attributable to shareholders decreased year-over-year due to declines in revenue and profit from "Ask Tao" PC game, "Ask Tao Mobile," and "One Thought Wandering (Mainland Version)"[25] - Total operating revenue for the first three quarters of 2024 was 2,818,281,672.62 yuan, a decrease of 14.8% compared to 3,306,772,093.70 yuan in the same period of 2023[34] - Net profit attributable to the parent company for the first three quarters of 2024 was 3,216,083,908.46 yuan, an increase of 11.6% compared to 2,881,486,077.30 yuan in the same period of 2023[33] - Net profit for the first three quarters of 2024 was 818.99 million yuan, a decrease of 27.1% compared to 1.12 billion yuan in the same period of 2023[35] - Operating profit for the first three quarters of 2024 was 953.41 million yuan, down 32.1% from 1.40 billion yuan in the same period of 2023[35] - Total comprehensive income for the first three quarters of 2024 was 810.36 million yuan, a decrease of 29.5% compared to 1.15 billion yuan in the same period of 2023[35] - Revenue from sales of goods and services for the first three quarters of 2024 was 3.02 billion yuan, a decrease of 9.3% compared to 3.33 billion yuan in the same period of 2023[37] - Operating profit for the first three quarters of 2024 decreased to 504,986,602.06 RMB from 803,329,789.90 RMB in the same period of 2023, a decline of approximately 37.1%[42] - Net profit for the first three quarters of 2024 dropped to 496,708,196.97 RMB from 782,510,523.02 RMB in 2023, a decrease of about 36.5%[42] - Total comprehensive income for the first three quarters of 2024 was 496,638,855.91 RMB, down from 782,510,523.02 RMB in 2023[43] Overseas and Domestic Revenue - Overseas revenue for the first nine months was RMB 369 million, an increase of 99.57% year-over-year[9] Assets and Liabilities - The company's total assets increased by 1.15% to RMB 6.713 billion compared to the end of the previous year[5] - Total assets as of September 30, 2024, were 6,713,366,978.54 yuan, an increase of 1.2% compared to 6,636,771,238.42 yuan at the end of 2023[32] - Total liabilities as of September 30, 2024, were 1,321,192,921.74 yuan, a decrease of 4.9% compared to 1,389,162,790.66 yuan at the end of 2023[33] - Total assets increased to 3,325,923,865.91 yuan from 3,220,955,715.48 yuan at the end of 2023[39] - Total liabilities decreased to 145,953,250.66 yuan from 162,542,488.23 yuan at the end of 2023[40] - Owner's equity increased to 3,179,970,615.25 yuan from 3,058,413,227.25 yuan at the end of 2023[40] Employee and R&D Expenses - The number of employees increased by 57 to 1,504, mainly due to an increase in R&D staff[10] - Payments for employee benefits for the first three quarters of 2024 were 912.63 million yuan, an increase of 5.3% compared to 866.55 million yuan in the same period of 2023[37] - R&D expenses for the first three quarters of 2024 were 103,394,550.14 RMB, a slight decrease from 107,004,457.66 RMB in 2023, down by approximately 3.4%[42] Financial Income and Expenses - The company's investment-related financial income for the first nine months was RMB 31.68 million, a decrease from RMB 37.19 million in the same period last year[11] - The exchange rate loss for the first nine months was RMB 6.21 million, compared to a gain of RMB 57.03 million in the same period last year[13] - Investment income increased by 76.10% YoY to 127,465,852.98 RMB due to gains from equity repurchase by investee companies[21] - Financial expenses decreased by 59.25% YoY to -54,243,889.39 RMB due to unfavorable USD-RMB exchange rate movements[21] - The company's financial expenses for the first three quarters of 2024 were -2,294,132.83 RMB, compared to -10,506,908.43 RMB in 2023, indicating a significant reduction in financial costs[42] - Investment income for the first three quarters of 2024 was 413,997,629.38 RMB, a significant drop from 686,965,704.32 RMB in 2023, a decrease of about 39.7%[42] Cash Flow - Operating cash flow decreased by 36.01% QoQ to 232,736,935.51 RMB in Q3 2024[23] - Cash flow from operating activities for the first three quarters of 2024 was 827.02 million yuan, slightly up by 0.3% from 824.56 million yuan in the same period of 2023[37] - Cash flow from investing activities for the first three quarters of 2024 was -326.88 million yuan, a decrease of 79.4% compared to -182.19 million yuan in the same period of 2023[37] - Cash flow from financing activities for the first three quarters of 2024 was -673.13 million yuan, an improvement of 29.2% compared to -950.78 million yuan in the same period of 2023[37] - Cash flow from operating activities for the first three quarters of 2024 was 304,790,016.06 RMB, slightly down from 306,763,950.64 RMB in 2023[44] - Cash flow from investing activities for the first three quarters of 2024 was 269,601,064.05 RMB, a decrease from 478,896,800.59 RMB in 2023[45] - Cash flow from financing activities for the first three quarters of 2024 was -375,267,853.18 RMB, an improvement from -660,882,837.93 RMB in 2023[45] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 21,491[26] - Lu Hongyan holds 29.72% of the company's shares, making him the largest shareholder[26] - Chen Tuolin holds 11.44% of the company's shares, the second-largest shareholder[26] - Hong Kong Securities Clearing Company holds 7.11% of the company's shares, the third-largest shareholder[26] Other Financial Metrics - The company's deferred revenue balance increased by RMB 34 million to RMB 474 million, mainly due to new game launches[15] - Other receivables surged by 567.98% YoY to 37,402,906.25 RMB due to pending payments from equity repurchase by investee companies[20] - Other current assets increased by 2,499.68% YoY to 305,372,349.20 RMB due to new purchases of short-term government bonds[20] - Non-operating income and expenses totaled -11,135,398.21 RMB for the first nine months of 2024[18] - Monetary funds decreased to 2,221,038,933.37 yuan as of September 30, 2024, compared to 2,397,018,382.09 yuan at the end of 2023[30] - Trading financial assets slightly decreased to 1,119,448,735.31 yuan as of September 30, 2024, from 1,125,621,695.38 yuan at the end of 2023[30] - Accounts receivable decreased to 189,294,536.75 yuan as of September 30, 2024, from 238,756,746.14 yuan at the end of 2023[30] - Prepayments increased to 23,909,057.93 yuan as of September 30, 2024, from 21,422,780.34 yuan at the end of 2023[30] - Other receivables increased significantly to 37,402,906.25 yuan as of September 30, 2024, compared to 5,599,445.09 yuan at the end of 2023[31] - Other current assets increased to 305,372,349.20 yuan as of September 30, 2024, compared to 11,746,515.71 yuan at the end of 2023[31] - Contract liabilities increased to 458,272,058.22 yuan as of September 30, 2024, compared to 417,007,621.68 yuan at the end of 2023[32] - Long-term equity investments decreased to 1,132,814,494.82 yuan as of September 30, 2024, compared to 1,164,814,123.76 yuan at the end of 2023[31] - Fixed assets decreased to 557,566,615.27 yuan as of September 30, 2024, compared to 596,402,026.29 yuan at the end of 2023[31] - Basic earnings per share for the first three quarters of 2024 were 9.11 yuan, a decrease of 23.7% compared to 11.94 yuan in the same period of 2023[36] - Total cash and cash equivalents at the end of the first three quarters of 2024 were 2.22 billion yuan, a decrease of 15.4% compared to 2.62 billion yuan at the end of the same period in 2023[37] - Cash and cash equivalents at the end of the period decreased to 2,218,717,069.98 yuan from 2,377,636,433.82 yuan in the same period last year[38] - Long-term equity investments increased to 2,474,533,677.41 yuan from 2,150,458,973.88 yuan at the end of 2023[38] - Accounts receivable decreased to 34,286,265.23 yuan from 45,693,275.98 yuan at the end of 2023[38] - Other receivables increased to 96,618,106.47 yuan from 70,829,561.42 yuan at the end of 2023[38] - Prepayments decreased to 877,921.40 yuan from 1,158,216.36 yuan at the end of 2023[38] - Contract liabilities increased to 20,351,256.50 yuan from 19,695,860.98 yuan at the end of 2023[39] - Cash and cash equivalents at the end of the third quarter of 2024 were 153,568,767.05 RMB, a decrease from 207,307,610.98 RMB at the same time in 2023[45]