XTC(600549)2024-10-25 12:36Revenue and Profit Performance - Revenue for the third quarter was RMB 9,207,409,717.68, a decrease of 14.73% year-over-year[2] - Net profit attributable to shareholders of the listed company was RMB 385,785,870.11, an increase of 4.32% year-over-year[2] - Basic earnings per share for the third quarter were RMB 0.2727, an increase of 4.04% year-over-year[2] - Net profit attributable to the parent company for the first three quarters of 2024 was RMB 6.59 billion, an increase of 14.5% compared to RMB 5.76 billion in the same period of 2023[15] - Net profit attributable to parent company shareholders increased to 1,402,388,931.27 RMB, up 20.8% year-over-year from 1,161,124,339.79 RMB[19] - Net profit for the third quarter of 2024 was RMB 847,791,974.59, compared to RMB 575,593,617.87 in the same period last year[27] - Revenue for the first three quarters of 2024 reached 2,360,670,932.23 RMB, up from 2,112,790,648.56 RMB in the same period of 2023[26] - Net profit attributable to shareholders rose to 1,696,283,801.74 RMB, compared to 1,415,731,267.15 RMB at the end of 2023[26] Asset and Liability Changes - Total assets as of the end of the reporting period were RMB 41,347,491,836.39, an increase of 5.28% compared to the end of the previous year[4] - Equity attributable to shareholders of the listed company was RMB 12,063,148,877.78, an increase of 7.59% compared to the end of the previous year[4] - Total assets as of the end of Q3 2024 were RMB 41.35 billion, an increase of 5.3% compared to RMB 39.27 billion at the end of Q3 2023[14] - Total liabilities as of the end of Q3 2024 were RMB 21.20 billion, an increase of 4.9% compared to RMB 20.20 billion at the end of Q3 2023[15] - Total assets grew to 22,819,553,271.03 RMB, a 12.3% increase from 20,342,085,058.16 RMB[21] - Total liabilities decreased by 8.5% to 16,970,762,683.19 RMB from 18,526,473,259.18 RMB[21] - Total assets increased to 19,518,099,549.52 RMB as of September 30, 2024, compared to 19,167,972,004.50 RMB at the end of 2023[24][25][26] - Total liabilities stood at 12,333,037,892.98 RMB, slightly higher than 12,271,708,342.51 RMB at the end of 2023[25] Cash Flow and Financial Activities - The company's cash flow from operating activities for the first nine months of the year was RMB 2,293,080,011.85, an increase of 18.23% year-over-year[2] - Operating cash flow increased by 18.2% to 2,293,080,011.85 RMB compared to 1,939,499,413.71 RMB in the same period last year[21] - Cash received from selling goods and providing services decreased by 11.7% to 22,384,080,132.88 RMB from 25,351,712,287.99 RMB[21] - Investment activities resulted in a negative cash flow of -1,258,510,306.99 RMB, an improvement from -1,546,918,502.79 RMB in the previous year[23] - Cash and cash equivalents at the end of the period stood at 3,433,323,722.46 RMB, a 14.7% increase from 2,993,774,767.72 RMB[23] - Cash received from sales of goods and services in the first three quarters of 2024 was RMB 2,549,277,822.69, an increase from RMB 2,146,141,821.46 in the same period last year[28] - Total cash inflow from operating activities in the first three quarters of 2024 was RMB 2,712,971,279.77, compared to RMB 2,348,958,594.33 in the same period last year[30] - Net cash flow from operating activities in the first three quarters of 2024 was RMB -30,663,221.08, a decrease from RMB 323,246,601.32 in the same period last year[30] - Net cash flow from investing activities in the first three quarters of 2024 was RMB 257,487,018.41, down from RMB 661,073,641.33 in the same period last year[30] - Net cash flow from financing activities in the first three quarters of 2024 was RMB -19,878,573.84, compared to RMB -875,909,297.92 in the same period last year[30] - Net increase in cash and cash equivalents in the first three quarters of 2024 was RMB 206,976,973.20, up from RMB 104,848,009.70 in the same period last year[30] - Ending cash and cash equivalents balance for the first three quarters of 2024 was RMB 695,120,061.84, compared to RMB 875,606,942.34 in the same period last year[30] Business Segment Performance - Tungsten and molybdenum business achieved revenue of 13.249 billion yuan, a year-on-year increase of 7.04%, with a profit of 1.960 billion yuan, up 17.34%[12] - Fine tungsten wire sales reached 106.5 billion meters, a year-on-year increase of 95%, with sales revenue up 52%[12] - Energy materials business revenue was 9.882 billion yuan, a year-on-year decrease of 24.69%, with a profit of 386 million yuan, down 13.87%[12] - Cobalt lithium product sales reached 32,300 tons, a year-on-year increase of 30%[12] - Ternary material product sales reached 38,600 tons, a year-on-year increase of 65%[12] - Rare earth business revenue was 3.203 billion yuan, a year-on-year decrease of 18.25%, with a profit of 180 million yuan, up 61.92%[12] - Magnetic material sales reached 6,325 tons, a year-on-year increase of 15%[12] - Real estate business revenue was 35 million yuan, a year-on-year decrease of 68.38%, with a profit of 68 million yuan, an increase of 174 million yuan[12] Shareholder and Equity Information - The company's largest shareholder, Fujian Rare Earth (Group) Co., Ltd., holds 31.77% of the shares[8] - The top 10 shareholders collectively hold approximately 52.3% of the company's shares[8] - The company's equity attributable to parent company shareholders increased by 15.6% to 5,949,224.28 RMB from 5,149,224.28 RMB[19] R&D and Operating Costs - R&D expenses for the first three quarters of 2024 were RMB 1.09 billion, a slight decrease of 1.5% compared to RMB 1.11 billion in the same period of 2023[18] - R&D expenses for the first three quarters of 2024 were 92,342,615.85 RMB, slightly higher than 91,537,045.70 RMB in the same period of 2023[26] - Operating costs for the first three quarters of 2024 were RMB 24.01 billion, a decrease of 12.2% compared to RMB 27.35 billion in the same period of 2023[18] Inventory and Monetary Funds - Monetary funds increased to 3.482 billion yuan from 2.851 billion yuan at the end of the previous year[13] - Inventory increased to 8.244 billion yuan from 7.419 billion yuan at the end of the previous year[13] - Inventory increased to 246,100,736.34 RMB, up from 151,777,263.13 RMB at the end of 2023[24] Comprehensive Income and Other Financial Metrics - Total comprehensive income reached 2,219,429,043.69 RMB, a 20.8% increase compared to 1,837,784,926.42 RMB in the same period last year[19] - Comprehensive income for the third quarter of 2024 was RMB 844,941,282.13, up from RMB 584,836,971.36 in the same period last year[27] - Weighted average return on equity (ROE) for the third quarter was 3.27%, a decrease of 0.09 percentage points year-over-year[4] - Non-recurring gains and losses for the third quarter amounted to RMB 15,650,563.71, primarily due to government subsidies and asset disposal gains[5] - Total profit for the third quarter of 2024 was RMB 864,126,559.20, an increase from RMB 575,300,835.11 in the same period last year[27] - Operating profit for the first three quarters of 2024 was 868,237,600.39 RMB, compared to 575,939,161.89 RMB in the same period of 2023[26] Fixed Assets and Construction in Progress - Fixed assets as of the end of Q3 2024 were RMB 10.33 billion, an increase of 1.9% compared to RMB 10.14 billion at the end of Q3 2023[14] - Construction in progress as of the end of Q3 2024 was RMB 3.47 billion, an increase of 30.1% compared to RMB 2.66 billion at the end of Q3 2023[14] Borrowings and Investments - Short-term borrowings as of the end of Q3 2024 were RMB 2.96 billion, an increase of 36.5% compared to RMB 2.17 billion at the end of Q3 2023[14] - Long-term borrowings as of the end of Q3 2024 were RMB 6.84 billion, a decrease of 2.7% compared to RMB 7.03 billion at the end of Q3 2023[15] - Long-term equity investments increased to 12,223,419,824.43 RMB, up from 11,860,303,731.42 RMB at the end of 2023[24] - Short-term borrowings grew to 2,022,306,517.68 RMB, compared to 1,539,926,109.59 RMB at the end of 2023[25] Accounts Receivable and Other Financial Metrics - Accounts receivable decreased to 341,119,322.45 RMB, down from 463,297,021.95 RMB at the end of 2023[24]