ZHEZHONG(002346)2024-10-27 07:38Revenue and Profit - Revenue for Q3 2024 reached ¥294,305,744.47, an increase of 111.90% year-over-year, and year-to-date revenue totaled ¥722,498,481.55, up 36.96% compared to the same period last year[2] - Net profit attributable to shareholders was ¥3,818,736.55, representing a 113.61% increase year-over-year, while year-to-date net profit was -¥147,641,408.17, a decrease of 175.55%[2] - The company reported a significant reduction in short-term borrowings, decreasing from CNY 100.07 million to CNY 30 million, a drop of about 70.0%[11] - The net profit for the current period was a loss of ¥147,641,408.17, compared to a profit of ¥195,430,059.39 in the same period last year, indicating a substantial decline[14] - The operating profit for the current period was a loss of ¥211,629,949.20, contrasting with a profit of ¥204,705,438.39 in the previous period[14] Operating Performance - The company reported a 36.96% increase in operating income year-over-year, primarily due to increased sales of complete switchgear and distribution cabinets[5] - Operating costs increased by 41.39% year-over-year, correlating with the rise in sales of switchgear products[5] - Total operating revenue for the current period reached ¥722,498,481.55, a significant increase of 37% compared to ¥527,521,751.15 in the previous period[13] - Total operating costs amounted to ¥591,428,379.49, up 28.5% from ¥460,411,964.05 in the prior period[13] Cash Flow and Investments - Operating cash flow for the year-to-date period increased by 317.93%, amounting to ¥143,675,099.07[7] - Cash flow from operating activities generated ¥143,675,099.07, a notable increase from ¥34,378,115.68 in the prior period[16] - Cash inflow from investment activities amounted to 134,850,184.37 CNY, significantly higher than 53,933,101.97 CNY in the previous year[17] - Cash received from investment income was 96,092,285.07 CNY, a substantial increase from 29,046,468.90 CNY year-over-year[17] - Net cash flow from investment activities was 27,917,604.94 CNY, a significant improvement from -28,747,822.48 CNY in the previous year[17] Assets and Liabilities - Total assets decreased by 11.77% from the end of the previous year, totaling ¥3,869,801,935.37[2] - The total assets of Shanghai Zhezhong Group reached approximately CNY 3.87 billion at the end of Q3 2024, down from CNY 4.39 billion at the beginning of the period, reflecting a decrease of about 11.7%[10] - The company’s long-term investments decreased to CNY 583.52 million from CNY 612.32 million, a decrease of about 4.7%[11] - The company held 5,750,060 shares in its share repurchase account, accounting for 1.30% of the total share capital[10] - The company reported other income of ¥4,323,130.66, a significant rise from ¥59,211.91 in the previous period[14] Shareholder Equity - Shareholders' equity attributable to the parent company decreased by 8.04% year-over-year, amounting to ¥2,685,328,410.88[2] - The equity attributable to shareholders decreased to CNY 2.69 billion from CNY 2.92 billion, reflecting a decline of approximately 8.0%[12] - The total number of ordinary shareholders at the end of the reporting period was 26,860[8] Financial Expenses and Gains - Financial expenses decreased significantly by 2453.11% year-over-year, attributed to reduced financial costs related to partner contributions[6] - The company experienced a 203.38% decrease in operating profit year-over-year, mainly due to reduced fair value gains on financial assets[6] - The financial asset fair value change resulted in a loss of ¥402,995,281.76, compared to a gain of ¥3,463,799.54 in the prior period[14] Cash Management - Cash and cash equivalents increased to CNY 202.17 million from CNY 170.06 million, representing a growth of approximately 18.9%[11] - The ending balance of cash and cash equivalents reached 202,016,977.52 CNY, an increase from 177,631,114.52 CNY year-over-year[17] - Cash outflow from financing activities increased to 304,465,401.79 CNY, up from 138,410,348.94 CNY year-over-year[17] - The net cash flow from financing activities was -139,465,401.79 CNY, contrasting with a positive 21,589,651.06 CNY in the previous year[17] Audit Status - The company did not undergo an audit for the third quarter report[17]