GD TIANHE(002999)2024-10-28 08:17Financial Performance - The company's revenue for Q3 2024 was ¥3,098,081,414.20, a decrease of 7.92% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥5,200,760.39, representing a decline of 198.36% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was -¥5,168,566.13, down 270.82% from the previous year[2]. - The total profit for the period was ¥12,137,825.87, down 83.88% year-on-year, primarily due to compressed gross margins[6]. - The net profit for Q3 2024 was CNY 8,144,127.61, a decrease of 86% compared to CNY 58,075,845.76 in Q3 2023[16]. - The total comprehensive income for Q3 2024 was CNY 10,514,835.38, down from CNY 57,981,605.29 in Q3 2023[17]. - The total profit before tax was CNY 12,137,825.87, down from CNY 75,314,600.96, indicating a decline of 84%[16]. Assets and Liabilities - Total assets increased to ¥7,369,066,575.23, reflecting a growth of 7.20% compared to the end of the previous year[2]. - Total liabilities amounted to CNY 5,951,241,960.21, up from CNY 5,411,257,829.49, showing an increase of 10%[15]. - Cash and cash equivalents decreased to CNY 539,247,563.09 from CNY 724,645,485.72, reflecting a decline of 25.5%[13]. - Accounts receivable increased significantly to CNY 882,415,422.58 from CNY 375,401,459.31, representing a growth of 134%[13]. - Inventory rose to CNY 2,800,068,067.60, up from CNY 2,501,376,242.41, marking an increase of 11.9%[14]. - Short-term borrowings surged to CNY 2,384,765,290.86 from CNY 533,049,348.88, indicating a significant increase in leverage[14]. Cash Flow - The company's cash flow from operating activities showed a net outflow of -¥1,597,859,700.57, a decrease of 12.66% year-on-year[2]. - The net cash flow from operating activities was -1,597,859,700.57 CNY, compared to -1,418,356,629.84 CNY in the previous year, indicating a decline in operational performance[19]. - The net cash flow from investing activities was -203,622,156.15 CNY, a decrease from -93,517,791.39 CNY year-over-year, reflecting increased investment outflows[19]. - The net cash flow from financing activities improved to 1,814,771,681.01 CNY, up from 1,214,273,201.52 CNY in the same period last year, showing stronger financing efforts[19]. - The company received cash inflows from financing activities amounting to 3,721,689,250.16 CNY, a slight decrease from 3,726,812,866.60 CNY year-over-year[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 34,999, with the largest shareholder, Guangdong Supply and Marketing Group Co., Ltd., holding 34.28% of shares, equating to 119,140,000 shares[7]. - Guangdong Zhongke Baiyun Emerging Industry Venture Capital Fund holds 2.30% of shares, amounting to 7,997,352 shares[7]. - Guangdong Yuehe Asset Management Co., Ltd. transferred 14,000,000 shares (4.03% of total shares) to Guangdong Supply and Marketing Group, with the transfer completed on September 30, 2024[11]. - The company has not reported any changes in the top 10 shareholders due to margin trading activities[8]. - The company has not identified any related party relationships among the top shareholders beyond those disclosed[8]. - The company’s major shareholders have not participated in margin trading activities during the reporting period[8]. Research and Development - The company's R&D expenses for the period were ¥2,839,941.88, down 41.88% compared to the previous year[5]. - Research and development expenses decreased to CNY 2,839,941.88 from CNY 4,886,329.35, representing a reduction of 42% year-over-year[16]. Future Outlook - Future outlook includes a focus on cost management and potential market expansion strategies to improve profitability[15].