TCL中环(002129) - 2024 Q3 - 季度财报

Financial Performance - Revenue for the third quarter was RMB 6,368,784,499.33, a decrease of 53.70% year-over-year[2] - Net profit attributable to shareholders was RMB -2,997,687,864.76, a decrease of 281.50% year-over-year[2] - Revenue for the first three quarters was 22.58 billion yuan, down 53.6% year-on-year[10] - Net profit was -6.48 billion yuan, down 198.4% year-on-year[10] - TCL Zhonghuan's total operating income for the first three quarters of 2024 was RMB 22.58 billion, a significant decrease from RMB 48.65 billion in the same period last year[23] - The company reported a net loss of RMB 6.48 billion for the first three quarters of 2024, compared to a net profit of RMB 6.58 billion in the same period last year[23] - Basic earnings per share for the first three quarters of 2024 was -1.5196, compared to 1.5381 in the same period last year[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 129,884,328,437.75, an increase of 3.86% compared to the end of the previous year[2] - Equity attributable to shareholders was RMB 34,689,366,815.03, a decrease of 16.38% compared to the end of the previous year[2] - Total assets at the end of the reporting period were 129.88 billion yuan, up 3.9% from the beginning of the period[10] - The company's total assets increased to 129,884,328,437.75 yuan from 125,063,043,317.18 yuan at the beginning of the period[22] - The company's total liabilities rose to 77,376,413,144.18 yuan from 64,825,931,231.00 yuan at the beginning of the period[22] - The company's owner's equity decreased to 52,507,915,293.57 yuan from 60,237,112,086.18 yuan at the beginning of the period[22] - The company's total liabilities and owner's equity as of the end of Q3 2024 was RMB 129.88 billion, up from RMB 125.06 billion at the end of the previous quarter[23] Cash Flow - Cash flow from financing activities was RMB 4,282,486,868.63, a decrease of 37.46% year-over-year[6] - Net cash flow from operating activities was 2.56 billion yuan, down 28.4% year-on-year[10] - Operating cash flow net amount is 2,561,591,674.68[26] - Investment cash inflow subtotal is 23,851,362,107.88[26] - Investment cash outflow subtotal is 30,418,595,434.68[26] - Financing cash inflow subtotal is 14,864,592,611.55[26] - Financing cash outflow subtotal is 10,582,105,742.92[26] - Net increase in cash and cash equivalents is 242,068,356.98[26] - Ending cash and cash equivalents balance is 8,963,347,711.08[26] Expenses and Costs - Research and development expenses were RMB 538,995,175.48, a decrease of 71.84% year-over-year[6] - Financial expenses were RMB 899,786,870.72, an increase of 39.77% year-over-year[6] - Asset impairment losses were RMB -1,902,682,694.02, a decrease of 57.12% year-over-year[6] - Operating costs for the first three quarters of 2024 were RMB 27.44 billion, down from RMB 41.26 billion in the same period last year[23] - R&D expenses decreased to RMB 539 million in the first three quarters of 2024 from RMB 1.91 billion in the same period last year[23] Shareholder Information - TCL Technology Group (Tianjin) Co., Ltd. holds 27.36% of the shares, totaling 1,106,278,267 shares[7] - Hong Kong Securities Clearing Company Ltd. holds 4.28% of the shares, totaling 172,869,470 shares[7] - TCL Technology Group Co., Ltd. holds 2.55% of the shares, totaling 102,999,833 shares[7] - China Industrial and Commercial Bank Co., Ltd. - Huatai-PineBridge CSI 300 ETF holds 1.53% of the shares, totaling 62,035,100 shares[7] - China Construction Bank Co., Ltd. - E Fund CSI 300 ETF holds 1.01% of the shares, totaling 41,014,375 shares[7] - China Industrial and Commercial Bank Co., Ltd. - ChinaAMC CSI 300 ETF holds 0.65% of the shares, totaling 26,086,016 shares[7] - China Bank Co., Ltd. - Huatai-PineBridge CSI Photovoltaic Industry ETF holds 0.75% of the shares, totaling 30,226,461 shares[7] - CITIC Securities Co., Ltd. - Tianhong CSI Photovoltaic Industry Index Fund holds 0.68% of the shares, totaling 27,382,302 shares[7] - China Bank Co., Ltd. - Harvest CSI 300 ETF holds 0.63% of the shares, totaling 25,422,940 shares[7] Photovoltaic Industry - The global photovoltaic industry faces supply-demand imbalance and continuous price decline, with prices stabilizing by the end of August[9] - Photovoltaic material product shipments were approximately 94.86GW, up 11.4% year-on-year[11] - N-type product penetration rate is expected to reach 73% in 2024[11] - The company's photovoltaic monocrystalline capacity increased to 190GW[11] - The company has established a partnership with Saudi Arabia's PIF to build the largest overseas crystalline wafer factory[14] - The company's high-efficiency shingled module capacity reached 24GW as of September 2024[13] - The company plans to establish a joint venture with Vision Industries Company and PIF's subsidiary Renewable Energy Localization Company to build a 20GW photovoltaic crystal wafer project in Saudi Arabia[20] Subsidiary Performance - The company's subsidiary Maxeon's performance significantly declined due to slow business transformation[14] Financial Assets and Liabilities - Goodwill increased by 116.38% to RMB 3,017,876,595.68 due to non-controlling interest acquisitions[5] - Accounts payable increased by 56.38% to RMB 6,489,439,096.34 due to increased bank acceptance bills[5] - The company's monetary funds increased to 10,818,450,030.59 yuan from 10,019,926,600.57 yuan at the beginning of the period[21] - The company's transaction financial assets rose to 6,032,517,913.42 yuan from 3,877,635,397.90 yuan at the beginning of the period[21] - The company's accounts receivable increased to 5,693,403,917.88 yuan from 5,409,236,851.72 yuan at the beginning of the period[21] - The company's inventory grew to 8,965,179,764.61 yuan from 8,163,719,282.74 yuan at the beginning of the period[21] Cash Flow Details - Cash received from sales of goods and services in the first three quarters of 2024 was RMB 17.82 billion, an increase from RMB 15.35 billion in the same period last year[25] - Cash paid for goods and services in the first three quarters of 2024 was RMB 11.92 billion, up from RMB 9.50 billion in the same period last year[25] Audit Information - The third quarter report is unaudited[26]