Actions(SH:688049)2024-10-27 07:34Major Financial Data Key Accounting Data and Financial Indicators Actions Technology reported significant revenue and net profit growth in Q3 and YTD 2024, attributed to sales strategies, product optimization, and increased R&D, alongside improved gross margin and asset growth Key Financial Indicators for Q3 and YTD 2024 | Item | Current Period (Q3) (CNY) | YoY Change (%) | Year-to-Date (YTD) (CNY) | YoY Change (%) | | :----------------------------------- | :-------------------- | :----------- | :----------------------- | :----------- | | Operating Revenue | 186,176,199.54 | 18.66 | 466,672,154.51 | 24.05 | | Net Profit Attributable to Shareholders of Listed Company | 29,972,622.25 | 34.87 | 70,912,668.75 | 51.12 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 24,750,955.43 | 20.21 | 48,026,429.28 | 31.23 | | Net Cash Flow from Operating Activities | N/A | N/A | 82,554,047.78 | -21.19 | | Basic Earnings Per Share (CNY/share) | 0.21 | 40.00 | 0.49 | 53.13 | | Diluted Earnings Per Share (CNY/share) | 0.21 | 40.00 | 0.49 | 53.13 | | Weighted Average Return on Net Assets (%) | 1.65 | Increased 0.40 percentage points | 3.91 | Increased 1.28 percentage points | | Total R&D Investment | 59,378,668.08 | 31.11 | 159,604,210.03 | 33.76 | | R&D Investment as % of Operating Revenue | 31.89 | Increased 3.02 percentage points | 34.20 | Increased 2.48 percentage points | Key Balance Sheet Indicators | Item | As of Sep 30, 2024 (CNY) | As of Dec 31, 2023 (CNY) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :--------- | | Total Assets | 2,073,248,488.44 | 1,926,597,146.57 | 7.61 | | Total Equity Attributable to Shareholders of Listed Company | 1,840,287,416.89 | 1,809,707,717.05 | 1.69 | - For January-September 2024, the company's comprehensive gross margin was 47.13%, an increase of 4.09 percentage points year-over-year3 - In June 2024, the company's total share capital increased from 122,000,000 shares to 146,136,404 shares due to the implementation of its annual equity distribution3 Non-Recurring Gains/Losses Items and Amounts The company's total non-recurring gains/losses for Q3 2024 amounted to CNY 5.22 million, and CNY 22.89 million year-to-date, primarily from government grants and fair value changes of financial assets Non-Recurring Gains/Losses Items and Amounts | Non-Recurring Gains/Losses Item | Amount for Current Period (Q3) (CNY) | Amount Year-to-Date (YTD) (CNY) | | :----------------------------------------------------------------------------------------------------------------------------------- | :----------------------------- | :------------------------------ | | Government Grants Included in Current Period P&L | 2,068,704.74 | 6,503,057.58 | | Fair Value Change Gains/Losses from Financial Assets/Liabilities Held by Non-Financial Enterprises and Gains/Losses from Disposal of Financial Assets/Liabilities | 3,150,218.43 | 14,314,925.60 | | Total | 5,221,666.82 | 22,886,239.47 | Changes in Key Accounting Data, Financial Indicators and Their Causes Net profit and EPS significantly increased due to substantial revenue growth, optimized product and customer structures, and a higher proportion of high-margin product sales, while R&D investment rose to meet demand for low-power, high-compute edge devices - Net profit attributable to shareholders of the listed company and basic earnings per share significantly increased, primarily due to the company's proactive sales strategies, substantial operating revenue growth, optimized product and customer structures, and a higher proportion of high-margin product sales, leading to a 4.09 percentage point year-over-year increase in comprehensive gross margin38 - Total R&D investment increased, mainly driven by the company's continuous focus on market demand and technological trends, further increasing R&D efforts to meet customer demand for low-power, high-compute edge devices, resulting in higher R&D salaries and engineering expenses38 Shareholder Information Total Common Shareholders and Top Ten Shareholders' Holdings As of the reporting period end, the company had 12,231 common shareholders, with Zhuhai Ruisheng Investment Partnership (Limited Partnership) as the largest shareholder holding 23.18% of shares, and the top ten including various partnerships and investment funds - As of the end of the reporting period, the total number of common shareholders was 12,2319 Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Type | Number of Shares Held | Holding Percentage (%) | | :----------------------------------------------------------------- | :--------------- | :-------------------- | :--------------------- | | Zhuhai Ruisheng Investment Partnership (Limited Partnership) | Other | 33,868,320 | 23.18 | | Zhuhai Chenyou Investment Partnership (Limited Partnership) | Other | 3,469,200 | 2.37 | | Xiamen Jujiawei Investment Partnership (Limited Partnership) | Other | 3,283,507 | 2.25 | | Xiamen Jushangyi Investment Partnership (Limited Partnership) | Other | 3,189,729 | 2.18 | | Bank of China Co., Ltd. - Taixin Small and Mid-Cap Select Stock Investment Fund | Other | 3,100,000 | 2.12 | - Zhuhai Ruisheng Investment Partnership (Limited Partnership) and Zhuhai Chenyou Investment Partnership (Limited Partnership) share the same executive partner, Hongxun Chuangjian Co., Ltd., and the same appointed representative, Ye Yiting, indicating an associated relationship10 Other Reminders Share Repurchase Plan The board approved a share repurchase plan using over-raised funds, totaling CNY 22.5 million to CNY 45 million at a price not exceeding CNY 30.00/share, which had not commenced by the reporting period end - On September 23, 2024, the company's board of directors approved a plan to repurchase company shares through centralized bidding transactions11 - This repurchase will utilize over-raised funds11 Share Repurchase Plan Details | Item | Details | | :----------- | :--------------------------------------------------------------------------------------------------- | | Total Capital | Not less than CNY 22.50 million and not exceeding CNY 45.00 million | | Repurchase Price | Not exceeding CNY 30.00/share | | Repurchase Period | Within 12 months from the date of board approval of the share repurchase plan | - As of September 30, 2024, the company had not yet commenced the repurchase12 Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The third-quarter financial statements are unaudited213 Financial Statements The company disclosed unaudited consolidated balance sheets, income statements, and cash flow statements, presenting its financial position as of September 30, 2024, and operating results and cash flows for the first three quarters Consolidated Balance Sheet As of September 30, 2024, total assets increased by 7.61% from the prior year-end, with growth in both current and non-current assets; total liabilities significantly rose due to increased short-term borrowings and accounts payable, while owner's equity saw a slight increase from share capital changes Consolidated Balance Sheet Key Item Changes (Sep 30, 2024 vs Dec 31, 2023) | Item | As of Sep 30, 2024 (CNY) | As of Dec 31, 2023 (CNY) | | :----------------------------------- | :-------------------- | :-------------------- | | Cash and Cash Equivalents | 1,257,907,930.83 | 1,245,919,225.92 | | Financial Assets Held for Trading | 270,525,511.96 | 249,544,477.02 | | Prepayments | 34,113,908.15 | 9,957,140.94 | | Other Receivables | 28,230,834.35 | 3,654,646.49 | | Inventories | 236,336,955.87 | 198,908,425.23 | | Total Current Assets | 1,898,097,062.19 | 1,776,952,447.16 | | Total Non-Current Assets | 175,151,426.25 | 149,644,699.41 | | Total Assets | 2,073,248,488.44 | 1,926,597,146.57 | | Short-term Borrowings | 115,000,000.00 | 44,451,377.19 | | Accounts Payable | 62,528,211.57 | 27,668,460.52 | | Total Current Liabilities | 216,411,664.44 | 104,162,889.61 | | Total Liabilities | 232,961,071.55 | 116,889,429.52 | | Paid-in Capital (or Share Capital) | 146,136,404.00 | 122,000,000.00 | | Total Equity Attributable to Parent Company Shareholders | 1,840,287,416.89 | 1,809,707,717.05 | Consolidated Income Statement For the first three quarters of 2024, total operating revenue increased by 24.05% year-over-year, with net profit growing by 51.12%, reflecting substantial R&D investment and significant growth in other comprehensive income Consolidated Income Statement Key Items (YTD 2024 vs YTD 2023) | Item | YTD 2024 (CNY) | YTD 2023 (CNY) | | :----------------------------------- | :------------------ | :------------------ | | Total Operating Revenue | 466,672,154.51 | 376,202,339.70 | | Total Operating Costs | 424,263,837.36 | 338,448,947.83 | | Operating Costs | 246,710,372.77 | 214,302,591.99 | | R&D Expenses | 159,604,210.03 | 119,325,376.41 | | Net Profit | 70,912,668.75 | 46,926,258.56 | | Net Profit Attributable to Parent Company Shareholders | 70,912,668.75 | 46,926,258.56 | | Net Other Comprehensive Income After Tax | 13,359,171.26 | 2,485,537.23 | | Total Comprehensive Income | 84,271,840.01 | 49,411,795.79 | | Basic Earnings Per Share (CNY/share) | 0.49 | 0.32 | Consolidated Cash Flow Statement For the first three quarters of 2024, net cash flow from operating activities decreased by 21.19% year-over-year, while net cash outflows from investing activities significantly reduced, and financing activities also saw reduced net outflows due to increased borrowings and share repurchase payments Consolidated Cash Flow Statement Key Items (YTD 2024 vs YTD 2023) | Item | YTD 2024 (CNY) | YTD 2023 (CNY) | | :----------------------------------- | :------------------ | :------------------ | | Net Cash Flow from Operating Activities | 82,554,047.78 | 104,745,836.75 | | Net Cash Flow from Investing Activities | -29,632,095.12 | -201,472,716.49 | | Net Cash Flow from Financing Activities | -9,152,905.50 | -29,150,960.15 | | Cash Received from Borrowings | 99,356,882.90 | 50,000.00 | | Cash Paid for Debt Repayment | 29,438,543.86 | 50,000.00 | | Cash Paid for Other Financing Activities | 54,581,923.49 | 4,750,937.93 | | Net Increase in Cash and Cash Equivalents | 41,703,004.93 | -124,306,086.42 | | Cash and Cash Equivalents at Period End | 189,644,271.23 | 134,944,223.54 |