YT(600692)2024-10-29 08:57Financial Performance - The company's operating revenue for Q3 2024 was ¥184,586,381.36, a decrease of 28.88% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥8,611,168.26, representing a decline of 446.97% year-over-year[2]. - The net cash flow from operating activities was -¥127,938,282.94, a decrease of 139.26% compared to the previous year[3]. - The operating revenue for the year-to-date period decreased by 42.12% compared to the same period last year[6]. - The net profit attributable to shareholders for the reporting period was -446.97 million RMB, primarily due to a decrease in profits from communication engineering and mixed products compared to the same period last year[7]. - Basic earnings per share for the reporting period were -446.97 million RMB, reflecting the same reasons as the net profit decrease[7]. - Total operating revenue for the first three quarters of 2024 was CNY 452,732,382.77, a decrease from CNY 782,236,295.75 in the same period of 2023, representing a decline of approximately 42.2%[16]. - The net profit for Q3 2024 was 2,548,813.30 RMB, a significant improvement from a net loss of 25,573,090.83 RMB in Q3 2023[17]. - Operating profit for Q3 2024 was -6,512,354.05 RMB, compared to -25,414,194.97 RMB in the same period last year, indicating a reduced loss[17]. - The net profit for the first three quarters of 2024 is RMB 19,528,687.29, compared to a net loss of RMB 13,965,230.42 in the first three quarters of 2023[26]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,213,114,227.51, an increase of 41.87% from the end of the previous year[3]. - The company's equity attributable to shareholders increased slightly by 0.71% to ¥933,238,998.69 compared to the previous year[3]. - Total assets reached CNY 4,213,114,227.51 in Q3 2024, up from CNY 2,969,685,227.64 in Q3 2023, marking an increase of about 42%[15]. - Total liabilities amounted to CNY 2,791,408,241.71 in Q3 2024, compared to CNY 1,546,274,027.86 in Q3 2023, which is an increase of approximately 80.5%[14]. - The total current assets increased to RMB 601,346,731.85 from RMB 542,540,405.70 at the end of 2023, reflecting a growth of 10.5%[22]. - The total liabilities decreased to RMB 550,853,561.60 from RMB 596,954,998.10, indicating a reduction of 7.7%[23]. Cash Flow - Cash and cash equivalents increased by 80.94%, mainly due to government prepayments received for the affordable housing project on Changxing Island[7]. - Cash flow from operating activities for Q3 2024 was 291,206,123.84 RMB, a turnaround from -405,529,582.39 RMB in Q3 2023[19]. - The company generated 1,704,060,187.99 RMB in cash inflows from operating activities in Q3 2024, compared to 1,347,092,462.73 RMB in Q3 2023[19]. - The net cash flow from operating activities for the first three quarters of 2024 was -38,312,236.64 RMB, an improvement from -420,427,930.68 RMB in the same period of 2023[28]. - Total cash inflow from operating activities decreased to 178,410,517.98 RMB, down from 669,857,502.83 RMB year-over-year[28]. - Cash outflow from operating activities was 216,722,754.62 RMB, significantly lower than 1,090,285,433.51 RMB in the previous year[28]. - The net cash flow from investing activities was 109,887,820.66 RMB, a recovery from -11,812,451.00 RMB in the same period of 2023[29]. - Cash inflow from investing activities totaled 118,607,711.66 RMB, compared to only 2,736,000.00 RMB in the previous year[29]. - Cash outflow from financing activities increased to 190,532,481.93 RMB, up from 108,365,151.40 RMB in the same period of 2023[29]. - The ending balance of cash and cash equivalents decreased to 27,294,908.21 RMB from 36,506,908.14 RMB year-over-year[29]. Inventory and Investments - The company reported a significant increase in inventory due to the investment in the housing project on Changxing Island[6]. - The company's inventory increased significantly to CNY 2,502,021,490.22 in Q3 2024, compared to CNY 1,466,381,178.95 in Q3 2023, reflecting a growth of approximately 70.6%[13]. - Inventory rose by 70.63%, attributed to increased investments in the affordable housing project on Changxing Island[7]. - Investment income surged by 496.51%, mainly from the sale of subsidiary equity and shares of Shanghai Rural Commercial Bank[7]. - The company reported an investment income of RMB 21,723,795.95 for the first three quarters of 2024, a significant increase from RMB 2,736,000.00 in the same period of 2023[26]. Operational Efficiency - Operating costs fell by 41.06%, corresponding to the decrease in revenue[7]. - The company reported a decrease in management expenses to CNY 38,937,231.64 in the first three quarters of 2024, down from CNY 40,528,050.92 in 2023, a reduction of about 3.9%[16]. - The financial expenses decreased significantly to CNY 9,444,232.80 in 2024 from CNY 27,123,520.14 in 2023, indicating a reduction of approximately 65%[16]. - Other income decreased by 45.40%, primarily due to a reduction in government subsidy income during the reporting period[8]. - The company has no external investment expenditures during the reporting period, indicating a focus on internal projects[8]. Future Outlook - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[16].