Financial Performance - The company's operating revenue for Q3 2024 was ¥6,111,883,433.80, a decrease of 3.01% compared to the same period last year[3]. - Net profit attributable to shareholders was ¥26,138,026.97, down 91.34% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was -¥68,947,203.12, a decline of 122.88% compared to the previous year[3]. - The basic earnings per share for the quarter was ¥0.01, reflecting a decrease of 91.85% year-on-year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 18.86 billion, a decrease of 4.2% compared to CNY 19.69 billion in the same period of 2023[14]. - Net profit for the first three quarters of 2024 was CNY 194.86 million, a significant decline of 66.5% from CNY 580.52 million in the same period of 2023[15]. - The company’s total profit for the first three quarters was CNY 332.58 million, down 57.3% from CNY 777.68 million in the same period of 2023[14]. - Earnings per share for the first three quarters of 2024 was CNY 0.08, compared to CNY 0.27 in the same period of 2023[15]. Assets and Liabilities - The total assets at the end of the reporting period were ¥22,033,343,193.12, an increase of 11.41% from the end of the previous year[3]. - As of September 30, 2024, total assets reached RMB 22,033,343,193.12, an increase from RMB 19,776,506,650.27 as of December 31, 2023, representing a growth of approximately 12.74%[12]. - Current assets totaled RMB 13,124,041,836.61, up from RMB 10,767,642,480.56, indicating a rise of about 22.06%[12]. - Total liabilities amounted to RMB 12,394,607,544.17, compared to RMB 10,271,379,224.32, marking an increase of around 20.66%[13]. - The current liabilities totaled RMB 11,656,156,784.51, an increase from RMB 9,517,349,311.49, indicating a growth of approximately 22.49%[13]. - The total equity attributable to shareholders rose to RMB 9,345,854,293.17 from RMB 9,218,460,277.70, showing an increase of about 1.38%[13]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥1,449,508,555.97, down 36.34% compared to the previous year[5]. - Cash flow from operating activities generated CNY 1.45 billion, down 36.3% from CNY 2.28 billion in the same period of 2023[16]. - The net cash flow from investment activities was -¥325.12 million, improving from -¥487.81 million year-over-year, indicating a reduction in losses by 33.3%[17]. - Cash inflow from financing activities was ¥129.80 million, down 76.0% from ¥538.60 million in the first three quarters of 2023[17]. - The net cash flow from financing activities improved to -¥592.61 million, a 54.0% reduction in losses compared to -¥1.29 billion in 2023[17]. - The ending balance of cash and cash equivalents was ¥3.38 billion, down from ¥4.87 billion year-over-year, reflecting a decrease of 30.7%[17]. Shareholder Information - The company had a total of 100,088 common shareholders at the end of the reporting period[6]. - The largest shareholder, Jiangxi Fangda Steel Group Co., Ltd., held 31.42% of the shares, with a significant portion pledged[6]. - The company repurchased a total of 24,344,257 shares, accounting for 1.05% of the total share capital, with an average purchase price of approximately RMB 3.84 per share[9]. - The total amount paid for the share repurchase was RMB 93,373,091.26, excluding transaction fees[9]. - The company plans to initiate a second share repurchase program with a total fund of no less than RMB 5,500 million and no more than RMB 11,000 million, with a maximum repurchase price of RMB 5.50 per share[9]. - The first repurchase under the new program will involve up to 242.96 million shares, representing 0.105% of the total share capital, with an average price of approximately RMB 4.17 per share[10]. - The company’s largest shareholder, Jiangxi Fangda Steel Group Co., Ltd., holds 726,853,252 shares, representing a significant portion of the total shares[8]. - The top ten shareholders collectively hold a substantial amount of shares, with the largest shareholder owning over 5% of the total[8]. - The company’s stock repurchase plan aims to maintain company value and protect shareholder interests[9]. Operational Insights - The average price of steel products decreased more than the decline in raw material prices, leading to reduced gross margins[5]. - Research and development expenses increased to CNY 97.26 million, up 66.1% from CNY 58.52 million year-on-year[14]. - The company reported a decrease in sales revenue from CNY 20.62 billion to CNY 19.89 billion year-on-year[16]. - The company recorded a decrease in tax expenses to CNY 137.72 million from CNY 197.15 million year-on-year[15]. - The company maintained long-term borrowings at RMB 20,000,000.00, unchanged from the previous period[13]. - The company’s deferred tax assets decreased from RMB 304,539,546.19 to RMB 249,948,561.58, a decline of about 18.00%[12]. - The company reported a decrease in accounts receivable from RMB 1,130,385,756.72 to RMB 904,622,457.83, a decline of approximately 20.00%[12]. - Inventory decreased from RMB 1,773,470,565.81 to RMB 1,474,089,786.18, representing a reduction of about 16.87%[12]. - The company’s financial statements for the quarter are not subject to audit opinions, indicating a straightforward reporting process[10].
方大特钢(600507) - 2024 Q3 - 季度财报