M&S ELECTRONICS(688311)2024-10-28 10:31Financial Performance - The company's operating revenue for Q3 2024 was ¥7,030,603.14, a decrease of 82.42% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was -¥84,566,033.72, with a year-to-date net profit of -¥127,605,295.32, reflecting a decrease of 1,204.14% year-on-year[2][6]. - The basic and diluted earnings per share for Q3 2024 were both -¥0.53, and -¥0.80 year-to-date, indicating a significant decline[2][7]. - Total operating revenue for the first three quarters of 2024 was CNY 87,005,718.07, a decrease of 68.3% compared to CNY 274,262,360.71 in the same period of 2023[16]. - Operating profit for the first three quarters of 2024 was a loss of CNY 166,620,679.24, compared to a profit of CNY 9,765,949.11 in the same period of 2023[17]. - Net profit for the first three quarters of 2024 was a loss of CNY 166,485,759.28, contrasting with a profit of CNY 9,698,776.45 in 2023[17]. - The net profit for Q3 2024 was -128,469,423.52 CNY, compared to a profit of 12,228,433.03 CNY in Q3 2023, indicating a significant decline in profitability[18]. - The net profit attributable to shareholders of the parent company was -127,605,295.32 CNY, down from 11,556,989.23 CNY in the same period last year[18]. - The total comprehensive income for Q3 2024 was -128,163,652.45 CNY, compared to 12,228,433.03 CNY in Q3 2023[18]. - The basic and diluted earnings per share for Q3 2024 were both -0.80 CNY, compared to 0.10 CNY in Q3 2023[18]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥152,479,560.10, indicating ongoing cash flow challenges[2]. - Cash inflow from operating activities for the first three quarters of 2024 was 141,093,831.74 CNY, down from 256,585,168.66 CNY in the same period of 2023[19]. - The net cash flow from operating activities for the first three quarters of 2024 was -152,479,560.10 CNY, compared to -118,798,065.32 CNY in the previous year[19]. - The net cash flow from investment activities for the first three quarters of 2024 was -118,231,782.47 CNY, an improvement from -156,841,420.21 CNY in the previous year[20]. - The net cash flow from financing activities for the first three quarters of 2024 was -49,323,828.07 CNY, compared to a positive flow of 243,326,953.84 CNY in the same period of 2023[20]. - The company's cash and cash equivalents as of September 30, 2024, amount to 277,725,571.29 RMB, a decrease from 598,913,679.29 RMB at the end of 2023[13]. - The cash and cash equivalents at the end of Q3 2024 were 276,809,428.15 CNY, down from 539,536,716.00 CNY at the end of Q3 2023[20]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥2,409,312,093.56, down 12.88% from the end of the previous year[3]. - Total assets decreased to CNY 2,409,312,093.56 in Q3 2024 from CNY 2,765,438,535.08 in Q3 2023, a decline of 12.9%[15]. - Total liabilities decreased to CNY 778,651,955.24 in Q3 2024 from CNY 1,008,749,080.17 in Q3 2023, a reduction of 22.8%[15]. - Non-current assets totaled CNY 1,060,305,530.01 in Q3 2024, down from CNY 1,138,740,201.33 in Q3 2023, a decrease of 6.9%[15]. - Current liabilities totaled CNY 393,083,617.10 in Q3 2024, a decrease of 34.4% from CNY 598,815,394.74 in Q3 2023[15]. - The total current assets decreased to 1,349,006,563.55 RMB from 1,626,698,333.75 RMB[13]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,591[8]. - The largest shareholder, Chengdu Rongtou Innovation Investment Co., Ltd., holds 46,498,340 shares, accounting for 28.99% of total shares[10]. - The company has no pledged, marked, or frozen shares among the top shareholders[10]. - The top ten shareholders include several entities controlled by Xiang Rong, indicating potential related party transactions[10]. - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending[12]. Research and Development - Research and development (R&D) expenses totaled ¥15,331,613.01 in Q3 2024, representing 218.07% of operating revenue, an increase of 164.84 percentage points year-on-year[3][7]. - The company continues to prioritize R&D investment despite the decrease in revenue, indicating a strategic focus on innovation[7]. Operational Challenges - The company experienced a significant reduction in product deliveries, contributing to the overall decline in revenue[6]. - The company reported a significant increase in financial expenses, totaling CNY 9,630,752.16 in 2024 compared to CNY 4,051,536.25 in 2023[17].