COTRAN(300731)2024-10-29 12:28Financial Performance - The company's revenue for Q3 2024 reached ¥217,394,849.67, an increase of 85.43% compared to the same period last year[3]. - Net profit attributable to shareholders was ¥7,836,817.09, a significant increase of 1,143.69% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥8,595,255.64, up 603.82% from the previous year[3]. - Operating revenue for the first nine months of 2024 reached ¥593,040,961.42, a 66.06% increase compared to ¥357,116,088.33 in the same period of 2023, driven by growth in new energy, automotive sealing strips, and power businesses[9]. - Operating profit increased by 70.27% to ¥12,989,721.76 from ¥7,628,949.73 year-on-year, attributed to higher revenues from automotive sealing strips and power businesses[9]. - Net profit for the first nine months of 2024 was ¥8,683,906.89, reflecting a 76.87% increase from ¥4,909,778.60 in the same period of 2023, primarily due to revenue growth in automotive sealing strips and power businesses[10]. - Total profit rose by 68.42% to ¥12,556,408.81 from ¥7,455,563.13 year-on-year, driven by increased income from automotive sealing strips and power businesses[10]. - The company’s basic earnings per share for Q3 2024 was ¥0.06, representing a 700.00% increase year-on-year[3]. - The net profit attributable to the parent company for Q3 2024 is CNY 10,672,932.57, compared to CNY 10,933,778.13 in Q3 2023, reflecting a decrease of approximately 2.4%[29]. - The total comprehensive income for Q3 2024 is CNY 9,907,351.45, up from CNY 4,016,701.98 in Q3 2023, indicating a significant increase of approximately 146.5%[29]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to ¥1,146,836,030.81, reflecting a growth of 13.40% compared to the end of the previous year[3]. - Total liabilities rose to CNY 484,524,564.91, compared to CNY 365,498,600.85, marking an increase of 32%[27]. - The total equity attributable to shareholders was CNY 604,143,478.51, down from CNY 614,087,905.40, reflecting a decrease of about 1.5%[27]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥21,414,893.64, down 66.23% year-on-year[3]. - Cash flow from operating activities decreased to ¥21,414,893.64 from ¥63,407,999.93, mainly due to a significant reduction in government subsidies and delayed customer payments in the new energy sector[11]. - The operating cash flow for Q3 2024 is CNY 21,414,893.64, down from CNY 63,407,999.93 in Q3 2023, representing a decline of approximately 66.3%[31]. - Cash inflow from operating activities totaled CNY 533,214,279.33 in Q3 2024, compared to CNY 428,971,905.94 in Q3 2023, marking an increase of approximately 24.3%[31]. - The cash outflow from operating activities in Q3 2024 was CNY 511,799,385.69, compared to CNY 365,563,906.01 in Q3 2023, which is an increase of approximately 40%[31]. - The net cash flow from investing activities for Q3 2024 is -CNY 33,668,342.30, compared to -CNY 30,278,657.30 in Q3 2023, indicating a worsening of approximately 7.9%[31]. - The net cash flow from financing activities for Q3 2024 is CNY 11,326,516.18, compared to -CNY 53,246,374.99 in Q3 2023, showing a significant improvement[31]. Investments and Expenses - The company reported a 251.91% increase in receivables financing, totaling ¥26,863,518.52, due to increased bank acceptance bills and customer supply chain document discounts[7]. - Inventory increased by 50.41% to ¥164,815,439.01, driven by growth in the new energy and automotive sealing strip business[7]. - Long-term equity investments surged by 422.02% to ¥20,876,457.31, attributed to capital injections into Suzhou Chuangyuan New Energy Technology Co., Ltd.[7]. - Financial expenses increased by 59.92% to ¥5,054,631.07 from ¥3,160,745.83, primarily due to reduced foreign exchange gains[9]. - The company reported a 107.89% increase in other expenses, totaling ¥722,588.13, mainly from contract breach penalties paid to suppliers[10]. - Investment income turned negative at -¥1,307,513.10, a decrease of 117.20% compared to ¥7,600,820.17 in the previous year, due to reduced investment income from associates[9]. - Research and development expenses for the period were CNY 32,063,788.04, slightly up from CNY 30,985,357.36, indicating continued investment in innovation[28]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 14,539[13]. - Shenzhen Kechuang Xinhua Technology Co., Ltd. holds 17.48% of shares, totaling 22,100,000 shares, with 21,000,000 shares pledged[13]. - The second-largest shareholder, Zhou Dong, owns 6.59% of shares, amounting to 8,325,620 shares, with 7,886,000 shares pledged[13]. - The company transferred 6,500,000 unrestricted shares, representing 5.14% of the total share capital, to Rongsheng Yesheng Fund at a price of 13.86 RMB per share, totaling 90,090,000 RMB[14]. - As of the reporting date, the total number of pledged shares by Zhou Dong and Kechuang Xinhua is 28,886,000 shares, accounting for 22.85% of the total share capital[18]. - Guangzhou Xingcheng plans to reduce its holdings by up to 1,894,000 shares, which is approximately 1.498% of the total share capital, within three months starting from August 29, 2024[16]. - The company has not yet completed the implementation of the reduction plan by Guangzhou Xingcheng, which still holds over 5% of shares[17]. - The company’s major shareholders have no known relationships or concerted actions with other shareholders[13]. Future Plans and Governance - The company plans to invest CNY 90 million in a new cooling plate project for electric vehicle batteries to meet diverse product demands from major clients in the power battery industry[20]. - The company has authorized management to adjust the investment plan for the new cooling plate project based on internal and external business environment changes[20]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[26]. - The company’s board and supervisory board completed their re-election process on September 27, 2024, ensuring governance continuity[23]. - A shareholder plan was disclosed for a potential reduction of up to 85,800 shares, representing 0.0679% of the total share capital, within a three-month period starting from October 17, 2024[22]. Audit and Compliance - The company has not undergone an audit for the Q3 2024 report[32].