Ligao Foods (300973)2024-10-29 08:10Financial Performance - The company's revenue for Q3 2024 was ¥935,844,593.71, a decrease of 1.11% compared to the same period last year, while year-to-date revenue reached ¥2,717,264,207.79, an increase of 5.22%[2] - Net profit attributable to shareholders for Q3 2024 was ¥67,833,291.27, representing a significant increase of 35.07% year-over-year, with a year-to-date net profit of ¥203,106,824.44, up 28.21%[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥66,552,573.21, a 57.43% increase year-over-year, while year-to-date it was ¥191,486,111.75, up 31.32%[2] - Total operating revenue for Q3 2024 was CNY 2,717,264,207.79, an increase of 5.2% from CNY 2,582,553,019.32 in Q3 2023[25] - Net profit attributable to shareholders of the parent company rose to CNY 203,106,824.44, a 28.2% increase compared to CNY 158,413,772.30 in Q3 2023[26] - Basic earnings per share increased to CNY 1.2075, up from CNY 0.9355 in the same period last year[26] Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥246,881,175.05, reflecting a substantial increase of 93.23%[2] - Net cash flow from operating activities increased by 93.23% to ¥246,881,175.05 for the first nine months of 2024[11] - Cash flow from operating activities was CNY 2,948,628,935.82, compared to CNY 2,842,782,343.65 in Q3 2023, reflecting a positive cash flow trend[27] - The net cash flow from operating activities for Q3 2024 was CNY 246,881,175.05, an increase from CNY 127,762,798.42 in Q3 2023, reflecting a growth of approximately 93.4%[28] - Total cash inflow from operating activities reached CNY 2,977,901,734.39, compared to CNY 2,870,142,083.03 in the previous year, indicating a year-over-year increase of about 3.7%[28] - Cash outflow from operating activities decreased to CNY 2,731,020,559.34 from CNY 2,742,379,284.61, showing a reduction of approximately 0.4%[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,036,464,736.51, an increase of 2.46% from the end of the previous year[2] - Accounts receivable increased by 37.08% to ¥298,339,653.52 compared to the end of 2023[9] - Total current liabilities increased to RMB 609,516,659.83 from RMB 571,315,409.63, marking an increase of about 6.7%[23] - The total liabilities of Lihigh Food Co., Ltd. amounted to RMB 1,480,999,035.28, compared to RMB 1,452,945,112.11, reflecting a slight increase of about 1.9%[23] Revenue Breakdown - The revenue from frozen baked goods accounted for about 58% of total product revenue, a decrease of approximately 7% year-over-year, primarily due to impacts from the supermarket channel[7] - Revenue from baking ingredients (cream, sauces, and other baking materials) accounted for about 42%, with a year-over-year increase of approximately 30%, driven by strong growth in new cream products[7] Investments and Projects - The company completed the sterile validation of its second UHT cream factory in Q3 2024, with formal production expected to begin in Q4 2024[8] - The company has invested RMB 30 million in the "Hangzhou Yunhui Equity Investment Partnership" with a target fund size of RMB 250 million, which has been fully raised[18] - The company approved the addition of new implementation locations and subjects for certain fundraising projects, extending the completion date of the "East China Production Base Construction and Technological Transformation Project" to December 2026[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,668[12] - The company’s major shareholders collectively hold significant stakes, with 彭裕辉 controlling 28.24% of the shares[14] - The company’s total shares held by the top 10 shareholders account for a substantial portion of the total equity, indicating concentrated ownership[16] Financial Expenses and Income - Financial expenses increased by 46.83% to ¥6,891,021.80 for the first nine months of 2024[10] - Investment income surged by 4424.61% to ¥3,102,205.29 for the first nine months of 2024[10] - The company reported a financial expense of CNY 6,891,021.80, which increased from CNY 4,693,355.30 in Q3 2023[25]