GACO(600523)2024-10-25 07:57Financial Performance - The company's operating revenue for Q3 2024 decreased by 5.20% year-on-year, totaling CNY 1,720,880,186.33[2] - Net profit attributable to shareholders decreased by 8.70% year-on-year, amounting to CNY 117,199,272.56[2] - The net profit after deducting non-recurring gains and losses fell by 18.50% year-on-year, reaching CNY 100,102,039.31[2] - Basic earnings per share decreased by 8.33% to CNY 0.29, while diluted earnings per share remained at CNY 0.11[3] - Total operating revenue for the first three quarters of 2024 reached CNY 1,720,880,186.33, a 1.4% increase from CNY 1,693,083,070.67 in the same period of 2023[15] - Net profit for the first three quarters of 2024 was CNY 120,452,311.64, compared to CNY 115,317,924.17 in 2023, reflecting a 4.9% increase[16] - Earnings per share for the first three quarters of 2024 were CNY 0.29, consistent with CNY 0.28 in the same period of 2023[16] Assets and Liabilities - Total assets increased by 1.92% compared to the end of the previous year, amounting to CNY 3,908,194,319.49[3] - The company's total liabilities as of the end of the third quarter of 2024 were CNY 837,074,861.81, compared to CNY 829,792,810.88 at the end of the third quarter of 2023[14] - The total equity attributable to shareholders of the parent company increased to CNY 3,007,428,734.78 from CNY 2,937,208,284.03 year-over-year[14] - The company's long-term receivables increased from 23,391,979.67 RMB to 27,169,153.12 RMB, an increase of approximately 16%[13] - The total liabilities include short-term borrowings of 540,000.00 RMB, down from 7,406,394.04 RMB, indicating a significant reduction[13] Cash Flow - Cash flow from operating activities showed a negative value of CNY -61,040,449.70, indicating a cash outflow[2] - In the first three quarters of 2024, the company reported cash inflows from operating activities of CNY 1,065,541,309.50, a decrease of 3.5% compared to CNY 1,104,257,213.30 in the same period of 2023[17] - The net cash flow from operating activities was negative at CNY -61,040,449.70, compared to CNY -6,553,378.42 in the first three quarters of 2023, indicating a significant decline in operational performance[17] - Cash inflows from investment activities totaled CNY 21,314,072.11, slightly up from CNY 21,006,527.99 in the previous year, while cash outflows for investment activities were CNY 90,621,830.47, down from CNY 94,492,417.73[18] - Cash outflows from financing activities amounted to CNY 59,904,475.27, compared to CNY 56,283,548.30 in the previous year, reflecting increased financial obligations[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,872[9] - The largest shareholder, China Aviation Automobile System Holding Company, holds 149,623,188 shares, accounting for 37.01% of total shares[10] - The number of shares held by the top 10 shareholders does not include any shares lent through margin trading[11] Investment and Expenses - The company reported a significant increase in investment income by 398.53% due to higher returns from investments[6] - The company reported an investment income of CNY 32,892,172.89 for the first three quarters of 2024, up from CNY 21,077,137.29 in 2023[15] - Research and development expenses for the first three quarters of 2024 totaled CNY 95,612,409.83, slightly up from CNY 94,065,594.83 in 2023[15] - The company's financial expenses showed a significant change, with a net financial expense of CNY -8,849,921.65 in 2024 compared to CNY -4,604,983.20 in 2023[15] Other Financial Metrics - The company's cash and cash equivalents decreased from 526,964,026.63 RMB at the end of 2023 to 336,386,951.61 RMB as of September 30, 2024, a decline of approximately 36%[12] - Accounts receivable increased from 948,847,612.15 RMB to 1,174,618,745.72 RMB, representing a growth of about 24%[12] - Inventory decreased from 414,078,981.37 RMB to 386,971,874.76 RMB, a reduction of approximately 6.5%[12] - The company reported a total cash outflow from operating activities of CNY 1,126,581,759.20, which is slightly higher than CNY 1,110,810,591.72 in the previous year[17] - The company received CNY 2,930,554.41 in tax refunds, a decrease of 47% from CNY 5,523,350.72 in the previous year[17] - Payments to employees increased to CNY 433,914,605.53, up from CNY 402,198,017.54, reflecting a rise of about 7.9% in labor costs[17] Strategic Outlook - The company has not indicated any new product launches or significant market expansion strategies in the current report[20]