QCIOT(688528)2024-10-28 10:08Financial Performance - The company's operating revenue for Q3 2024 was ¥72,397,665.71, a decrease of 19.21% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was -¥22,274,886.20, with a year-to-date net profit of -¥41,925,664.82[2]. - The basic and diluted earnings per share for Q3 2024 were both -¥0.14, compared to -¥0.26 in the same period last year[3]. - The company reported a decrease in net profit attributable to shareholders of ¥12,404,300.00 year-on-year, primarily due to increased competition in the gas meter market[8]. - Total operating revenue for the first three quarters of 2024 reached CNY 261,577,847.09, an increase from CNY 222,732,986.04 in the same period of 2023, representing a growth of approximately 17.4%[16]. - The net loss for the first three quarters of 2024 was CNY 41,483,669.21, compared to a net loss of CNY 44,438,618.71 in the same period of 2023, showing an improvement of approximately 6.5%[17]. - The total equity attributable to shareholders of the parent company decreased to CNY 568,772,952.95 from CNY 690,698,543.73 year-over-year, a decline of approximately 17.6%[15]. - The total comprehensive loss for the first three quarters of 2024 was CNY 41,925,664.82, compared to a loss of CNY 44,438,618.71 in the same period of 2023, reflecting an improvement of approximately 5.7%[18]. Cash Flow and Assets - The company's cash flow from operating activities for Q3 2024 was ¥9,834,839.77, a significant improvement from -¥26,002,589.98 in the previous year[2]. - The cash flow from operating activities generated a net inflow of CNY 9,700,788.50, a significant recovery from a net outflow of CNY 54,982,309.73 in the same period of 2023[28]. - The total assets at the end of Q3 2024 were ¥920,320,718.55, a decrease of 9.23% from the end of the previous year[3]. - The company's total current assets decreased from RMB 526,827,839.84 at the end of 2023 to RMB 431,055,694.25 as of September 30, 2024[12]. - The total assets of the company decreased from RMB 1,013,905,217.36 at the end of 2023 to RMB 920,320,718.55 as of September 30, 2024[13]. - The total liabilities as of the end of the third quarter of 2024 amounted to CNY 350,440,118.60, compared to CNY 322,541,022.24 at the end of the same period in 2023, reflecting an increase of about 8.6%[15]. - The company's cash and cash equivalents decreased significantly from RMB 177,671,599.35 at the end of 2023 to RMB 35,339,570.54 as of September 30, 2024[12]. - The total cash and cash equivalents at the end of the third quarter of 2024 decreased to CNY 28,800,494.74 from CNY 150,664,548.13 at the end of 2023, indicating a decline of approximately 81%[21]. Research and Development - Research and development expenses totaled ¥15,111,449.24 in Q3 2024, accounting for 20.87% of operating revenue, an increase of 2.04 percentage points year-on-year[3]. - Research and development expenses for the first three quarters of 2024 were CNY 47,508,800.79, slightly down from CNY 48,722,719.38 in the same period of 2023, indicating a decrease of about 2.5%[16]. - Research and development expenses for the first three quarters of 2024 were CNY 44,451,986.31, slightly down from CNY 46,160,381.67 in the previous year[26]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 6,527, with the largest shareholder, Shao Zehua, holding 101,165,281 shares, accounting for 60.22% of the total shares[9]. - The company has a total of 10,436,909 shares in its repurchase special securities account, accounting for 6.21% of the total share capital[10]. Strategic Initiatives - The company is planning to acquire 60% of Chengdu Paiwote Technology Co., Ltd. through cash, as part of a major asset restructuring initiative[11]. - The company aims to enhance market expansion strategies and invest in new technologies to drive future growth[27]. Inventory and Receivables - Accounts receivable increased from RMB 239,551,539.58 at the end of 2023 to RMB 274,358,480.40 as of September 30, 2024, indicating a growth of approximately 14.5%[12]. - Inventory increased from RMB 56,983,488.29 at the end of 2023 to RMB 72,013,610.71 as of September 30, 2024, reflecting a growth of approximately 26.5%[12]. - The company's inventory as of September 30, 2024, was CNY 54,727,856.47, up from CNY 45,310,483.11 at the end of 2023, reflecting an increase of approximately 21%[22]. - The company reported a decrease in inventory stock to CNY 79,999,925.96, reflecting improved inventory management[24]. Financial Ratios and Metrics - The weighted average return on equity for Q3 2024 was -3.72%, a decrease of 2.33 percentage points compared to the previous year[3]. - The company's non-current liabilities totaled CNY 56,669,711.89, an increase from CNY 17,012,897.50 in the previous year, representing a significant rise of approximately 233.5%[15]. - The financial expenses rose to CNY 2,459,046.38, compared to CNY 816,043.25 in the previous year, primarily due to increased interest expenses[26].