THEC(BJ:833509)2024-10-28 11:43Financial Performance - Operating revenue for the first nine months of 2024 increased by 13.90% to CNY 129,840,446.27 compared to the same period in 2023[5] - Net profit attributable to shareholders for the first nine months of 2024 rose by 7.16% to CNY 27,699,698.29 compared to the same period in 2023[5] - In Q3 2024, operating revenue was CNY 43,727,646.09, reflecting a 16.19% increase year-over-year[6] - Net profit attributable to shareholders in Q3 2024 decreased by 5.78% to CNY 8,838,816.83 compared to Q3 2023[6] - The company's operating revenue for the first nine months of 2024 reached CNY 128,071,250.46, an increase from CNY 112,779,800.36 in the same period of 2023, representing a growth of approximately 13.5%[29] - The net profit for Q3 2024 was CNY 27,619,408.91, compared to CNY 25,838,999.25 in Q3 2023, reflecting an increase of about 6.9%[28] - The total profit for Q3 2024 was CNY 29,482,136.26, compared to CNY 28,469,533.74 in Q3 2023, representing an increase of approximately 3.6%[28] Cash Flow - Cash flow from operating activities for the first nine months of 2024 increased significantly by 70.70% to CNY 30,583,144.07 compared to the same period in 2023[5] - The net cash flow from operating activities increased to ¥30,583,144.07 in Q3 2024, up from ¥17,915,821.12 in Q3 2023, representing a growth of approximately 70.5%[32] - Cash inflow from operating activities totaled ¥141,872,702.00 for the first nine months of 2024, compared to ¥137,950,018.14 for the same period in 2023, showing a slight increase of 2.1%[31] - The cash outflow from operating activities decreased to ¥111,289,557.93 in the first nine months of 2024, down from ¥120,034,197.02 in the same period of 2023, a reduction of about 7.3%[31] - Cash inflow from investment activities reached ¥234,900,956.00 in Q3 2024, significantly higher than ¥135,802,633.97 in Q3 2023, marking an increase of approximately 73%[35] - The net cash flow from investment activities improved to ¥19,161,872.13 in Q3 2024, compared to a negative cash flow of ¥27,024,914.60 in Q3 2023[32] - The company reported a cash outflow from financing activities of ¥56,248,038.22 in Q3 2024, compared to ¥32,660,434.20 in Q3 2023, indicating an increase in financing costs[35] Assets and Liabilities - Total assets as of September 30, 2024, decreased by 7.85% to CNY 367,935,198.73 compared to the end of 2023[4] - The company's cash and cash equivalents decreased to CNY 40,848,514.43 from CNY 46,495,462.36, representing a decline of about 12.5%[19] - The total current assets decreased to CNY 249,925,379.14 from CNY 274,254,590.28, indicating a reduction of approximately 8.8%[19] - The total current liabilities decreased to CNY 42,705,227.76 from CNY 52,652,090.26, a reduction of approximately 18.9%[21] - The company's accounts payable increased significantly to CNY 17,512,597.82 from CNY 8,927,604.54, reflecting an increase of about 96.5%[21] - The company's non-current assets totaled CNY 118,009,819.59, down from CNY 125,022,272.92, indicating a decrease of approximately 5.6%[21] - Total liabilities decreased to ¥47,632,480.25 as of September 30, 2024, from ¥55,036,891.43 at the end of 2023, representing a decline of approximately 13.4%[25] Shareholder Information - The total number of unrestricted shares at the end of the reporting period is 82,448,378, accounting for 50.94% of total shares[9] - The number of shares held by the largest shareholder, Zhao Haohua, is 20,186,100, representing 12.47% of total shares[10] - The company has a total share capital of 161,855,696 shares, with 4,219 common shareholders[9] - The company has a total of 111,343,676 shares held by the top ten shareholders, accounting for 68.81% of total shares[11] - The core employee shareholding has decreased by 414,823 shares, resulting in a total of 2,733,332 shares, which is 1.69% of total shares[9] - The company has not reported any pledges or judicial freezes on shares held by shareholders[12] Research and Development - Research and development expenses increased to ¥19,928,570.30 in the first nine months of 2024, compared to ¥16,609,719.04 in the same period of 2023, reflecting a rise of approximately 19.0%[27] - Research and development expenses for the first nine months of 2024 totaled CNY 17,476,938.43, compared to CNY 14,698,752.58 in the same period of 2023, marking an increase of about 18.9%[29] Equity Incentive Plan - The company approved the 2022 equity incentive plan and related proposals during the board meetings held on October 17, 2022, and October 27, 2022[15] - The company completed the first grant registration of restricted stock under the 2022 equity incentive plan on November 11, 2022[16] - On October 31, 2023, the company approved the proposal to repurchase and cancel part of the restricted stock from the 2022 equity incentive plan[16] - The company disclosed the results of the reserved equity grants under the 2022 equity incentive plan on October 12, 2023[16] - The company held a board meeting on August 23, 2023, to discuss adjustments to the stock price and quantity of the 2022 equity incentive plan[16] - The company completed the repurchase and cancellation of restricted stocks for departing incentive objects and those who did not meet assessment criteria on December 4, 2023[16] - The company’s independent directors expressed agreement with the proposals related to the equity incentive plan[15] - The company’s legal counsel provided opinions on the equity incentive plan and related matters throughout the process[16] - The company’s board meetings included discussions on the conditions for lifting restrictions on the first batch of restricted stocks from the 2022 equity incentive plan[16] Other Information - The company has ongoing litigation with a cumulative amount of 3,000,000 yuan, which represents 0.93% of the net assets at the end of the reporting period[14] - The company has implemented a stock buyback plan, as disclosed in the announcement number 2024-037[13] - There are no significant related party transactions or external guarantees reported during the period[13] - The company recorded other income of CNY 4,299,596.45 in the first nine months of 2024, down from CNY 8,214,234.02 in the same period of 2023, representing a decrease of about 47.7%[29] - The company reported a credit impairment loss of CNY -140,459.58 in Q3 2024, compared to a gain of CNY 230,287.82 in Q3 2023, indicating a significant change in credit risk assessment[28] - The total comprehensive income for Q3 2024 was CNY 27,308,058.41, down from CNY 30,436,653.83 in Q3 2023, reflecting a decrease of about 10.5%[30]