Huaqin Technology (603296)2024-10-28 09:15Revenue and Profit - Revenue for the reporting period reached RMB 36.61 billion, a year-on-year increase of 45.36%[2] - Net profit attributable to shareholders of the listed company was RMB 758.56 million, up 8.04% year-on-year[2] - Operating revenue for the first three quarters of 2024 reached 76.01 billion yuan, up 17.1% from 64.88 billion yuan in the same period last year[14] - Net profit for the first three quarters of 2024 was 2.03 billion yuan, a 4.96% increase from 1.94 billion yuan in the same period last year[15] - The increase in revenue was primarily driven by the rapid expansion of high-performance computing business[5] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 74.90 billion, a 45.42% increase compared to the end of the previous year[3] - Total current assets increased to RMB 57.79 billion as of September 30, 2024, compared to RMB 36.13 billion as of December 31, 2023[11] - Accounts receivable rose significantly to RMB 28.00 billion as of September 30, 2024, from RMB 14.37 billion as of December 31, 2023[11] - Inventory increased to RMB 10.95 billion as of September 30, 2024, compared to RMB 4.34 billion as of December 31, 2023[11] - Long-term equity investments grew to RMB 1.65 billion as of September 30, 2024, from RMB 1.15 billion as of December 31, 2023[11] - Fixed assets increased to RMB 6.99 billion as of September 30, 2024, compared to RMB 6.66 billion as of December 31, 2023[11] - Construction in progress rose to RMB 1.56 billion as of September 30, 2024, from RMB 970.78 million as of December 31, 2023[11] - Intangible assets increased to RMB 1.25 billion as of September 30, 2024, compared to RMB 1.18 billion as of December 31, 2023[11] - Deferred tax assets grew to RMB 475.50 million as of September 30, 2024, from RMB 429.14 million as of December 31, 2023[11] - Other non-current assets increased to RMB 2.18 billion as of September 30, 2024, compared to RMB 2.06 billion as of December 31, 2023[11] - Monetary funds rose to RMB 13.37 billion as of September 30, 2024, from RMB 12.76 billion as of December 31, 2023[10] - Total assets increased to 74.90 billion yuan from 51.51 billion yuan, a growth of 45.4%[12] - Total liabilities rose to 53.20 billion yuan from 30.67 billion yuan, an increase of 73.5%[12] - Short-term borrowings surged to 7.59 billion yuan from 3.84 billion yuan, a 97.5% increase[12] - Accounts payable rose to 32.40 billion yuan from 15.37 billion yuan, a 110.8% increase[12] - Total equity attributable to owners of the parent company increased to 21.62 billion yuan from 20.87 billion yuan, a 3.6% growth[13] - Minority interests improved to 84.69 million yuan from a negative 23.28 million yuan[13] Cash Flow - Operating cash flow for the period from the beginning of the year to the end of the reporting period was RMB 1.14 billion, a decrease of 32.90% year-on-year[3] - The decrease in operating cash flow was mainly due to changes in product and business structure, leading to increased cash payments for goods purchased[5] - Cash received from sales of goods and services increased to 73,632,973,519.08, up from 62,096,769,309.69 in the previous period[18] - Total cash inflow from operating activities rose to 78,220,469,018.33, compared to 67,420,415,138.65 in the previous period[18] - Net cash flow from operating activities decreased to 1,139,385,250.25, down from 1,698,012,799.91 in the previous period[18] - Net cash flow from investing activities improved to -1,223,873,070.17, compared to -2,008,802,046.51 in the previous period[19] - Net cash flow from financing activities decreased to 1,324,580,848.66, down from 6,078,566,246.21 in the previous period[19] - Net increase in cash and cash equivalents was 1,415,354,520.71, compared to 6,018,427,197.01 in the previous period[19] - Ending cash and cash equivalents balance increased to 11,645,992,595.56, up from 10,521,398,583.90 in the previous period[19] Earnings and Returns - Basic earnings per share for the reporting period were RMB 0.7510, an increase of 1.23% year-on-year[3] - Weighted average return on equity (ROE) for the reporting period was 3.55%, a decrease of 0.90 percentage points year-on-year[3] - Basic earnings per share (EPS) decreased to 2.0243 from 2.1476 in the previous period[16] - Comprehensive income attributable to the parent company's owners decreased to -62,857,111.29, compared to -130,403,932.62 in the previous period[16] - Total comprehensive income for the company increased to 1,970,670,789.83, up from 1,806,982,953.52 in the previous period[16] Expenses and Subsidies - R&D expenses increased to 3.74 billion yuan, up 12.0% from 3.34 billion yuan in the same period last year[15] - Financial expenses showed a net income of 316.99 million yuan, compared to a net income of 150.41 million yuan in the same period last year[15] - Government subsidies received during the period amounted to RMB 136.34 million[4] Business and Operational Factors - The increase in total assets was attributed to both the growth in accounts receivable due to higher revenue and the increase in inventory for production preparation[5]