JEMC(000922)2024-10-24 09:38Financial Performance - The company's operating revenue for Q3 2024 was ¥1,087,406,670.21, representing a 4.95% increase compared to ¥1,036,143,556.07 in the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥31,615,413.56, a decrease of 65.71% from ¥92,202,089.60 in the previous year[2] - The net profit after deducting non-recurring gains and losses was ¥26,515,682.04, down 65.12% from ¥76,016,436.20 in the same period last year[2] - The basic earnings per share for Q3 2024 was ¥0.0535, a decline of 65.42% compared to ¥0.1547 in the previous year[2] - Net profit attributable to shareholders decreased by 33.31% to ¥206,418,912.18 from ¥309,525,449.98, impacted by declining sales prices in the motor segment[6] - The total comprehensive income for the third quarter was CNY 249,718,910, a decrease from CNY 334,954,637 in the previous year[15] - The net profit attributable to the parent company was CNY 206,418,912, down from CNY 309,525,449 in the same period last year[15] - Basic and diluted earnings per share were both CNY 0.35, compared to CNY 0.52 in the previous year[15] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥445,480,871.40, showing a significant increase of 5,655.64% compared to ¥7,739,907.18 in the same period last year[2] - Operating cash flow turned negative, with a net outflow of ¥445,480,871.40, a decrease of 5,655.64% compared to the previous period, due to increased payments for procurement[6] - The net cash flow from operating activities was negative CNY 445,480,871, worsening from negative CNY 7,739,907 in the previous year[16] - Cash inflow from operating activities totaled CNY 2,444,823,913, an increase from CNY 2,198,163,774 in the previous year[16] - Cash outflow from operating activities was CNY 2,890,304,784, compared to CNY 2,205,903,681 in the previous year[16] - The net cash flow from financing activities was positive CNY 31,730,122.70, improving from negative CNY 89,548,590.98 in the previous year[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,639,089,695.46, a decrease of 0.74% from the previous year's end[2] - The company's total assets decreased to CNY 9,567,453,264.91 from CNY 9,639,089,695.46 in the previous quarter[12] - Total current assets decreased slightly to ¥7,460,403,602.72 from ¥7,548,528,051.15[10] - Short-term borrowings increased to CNY 1,292,041,881.39, up from CNY 1,126,836,023.68 year-over-year[12] - The total liabilities decreased to CNY 5,953,685,853.80 from CNY 6,157,653,404.59 in the previous quarter[12] Shareholders' Equity - Shareholders' equity attributable to the parent company was ¥3,192,134,470.14, reflecting a 2.78% increase from the previous year's end[2] - The company's equity attributable to shareholders increased to CNY 3,280,822,950.54 from CNY 3,192,134,470.14 year-over-year[12] Research and Development - Research and development expenses increased by 53.50% to ¥123,307,183.81 from ¥80,332,202.98, driven by increased technology reserves and new product development[6] - Research and development expenses rose significantly to CNY 123,307,183.81, compared to CNY 80,332,202.98 in the same period last year, reflecting a 53.5% increase[13] Non-Recurring Gains and Financial Expenses - Non-recurring gains included government subsidies amounting to ¥1,896,843.55 and financial investment income of ¥1,715,000.00[4] - The company reported a debt restructuring gain of ¥307,671.13 for the current period[5] - The total non-recurring gains for the year-to-date period amounted to ¥5,099,731.52[5] - Financial expenses surged by 214.64% to ¥25,626,591.01 from ¥8,144,756.08, primarily due to interest expenses on entrusted loans[6] - The company reported a significant increase in financial expenses, which rose to CNY 25,626,591.01 from CNY 8,144,756.08 in the same period last year[13] Inventory and Operating Costs - Cash and cash equivalents decreased by 30.38% to ¥1,470,818,811.37 from ¥2,112,558,000.63 due to payments of due notes payable[6] - Inventory increased to ¥1,779,930,672.37 from ¥1,544,946,669.33, indicating a rise in stock levels[10] - Operating costs for Q3 2024 were CNY 3,256,430,415.55, slightly down from CNY 3,261,372,361.68 year-over-year[13] Future Plans - The company plans to continue investing in technology and product development to enhance market competitiveness[6] Major Shareholders - The major shareholders include Harbin Electric Group Co., Ltd. with a 26.11% stake and Jiamusi Electric Motor Factory Co., Ltd. with a 10.83% stake[9]