上汽集团(600104) - 2024 Q3 - 季度财报

Financial Performance - Revenue for the third quarter was RMB 145.80 billion, a decrease of 25.91% year-over-year[2] - Net profit attributable to shareholders was RMB 279.69 million, down 93.53% compared to the same period last year[2] - Total operating income for the first three quarters of 2024 was 430.48 billion yuan, a decrease of 17.7% compared to 523.34 billion yuan in the same period of 2023[12] - Net profit attributable to parent company shareholders was 6.91 billion yuan, a decrease of 39.4% compared to 11.41 billion yuan in the same period of 2023[13] - Basic earnings per share for the first three quarters of 2024 was 0.602 yuan, a decrease of 39.3% compared to 0.992 yuan in the same period of 2023[13] - Total comprehensive income for the first three quarters of 2024 was 13.54 billion yuan, a decrease of 15.8% compared to 16.09 billion yuan in the same period of 2023[13] - The significant decline in net profit was mainly attributed to the downturn in the fuel vehicle market and intense price competition, leading to reduced sales revenue and gross margins[5] Cash Flow - Operating cash flow for the quarter was RMB 7.37 billion, a decrease of 48.09% year-over-year[2] - Sales of goods and services received cash of RMB 392.18 billion, a decrease of 24.1% compared to RMB 516.92 billion in the same period last year[14] - Net cash flow from operating activities was RMB 18.69 billion, a decrease of 11.4% compared to RMB 21.10 billion in the same period last year[14] - Net cash flow from investing activities was RMB 10.59 billion, compared to a negative RMB 18.68 billion in the same period last year[15] - Net cash flow from financing activities was negative RMB 2.99 billion, an improvement from negative RMB 18.08 billion in the same period last year[15] - Cash and cash equivalents increased by RMB 26.70 billion, compared to a decrease of RMB 15.45 billion in the same period last year[15] - Cash received from interest, fees, and commissions was RMB 10.50 billion, a decrease of 16.3% compared to RMB 12.55 billion in the same period last year[14] - Cash paid for construction of fixed assets, intangible assets, and other long-term assets was RMB 9.09 billion, a decrease of 27.7% compared to RMB 12.58 billion in the same period last year[15] - Cash received from investments was RMB 306.61 billion, an increase of 4.9% compared to RMB 292.36 billion in the same period last year[14] - Cash paid for investments was RMB 294.33 billion, a decrease of 4.2% compared to RMB 307.29 billion in the same period last year[15] - Cash received from financing activities was RMB 81.18 billion, an increase of 13.8% compared to RMB 71.31 billion in the same period last year[15] Assets and Liabilities - Total assets at the end of the reporting period were RMB 955.31 billion, a decrease of 5.10% compared to the end of the previous year[3] - Total assets as of September 30, 2024, amounted to 955.31 billion RMB, a decrease from 1,006.65 billion RMB at the end of 2023[9][10] - Total liabilities as of the end of Q3 2024 were 605.01 billion yuan, a decrease of 8.9% compared to 663.74 billion yuan at the end of 2023[11] - Total equity attributable to parent company shareholders was 292.74 billion yuan, an increase of 2.2% compared to 286.32 billion yuan at the end of 2023[11] - Total assets as of the end of Q3 2024 were 955.31 billion yuan, a decrease of 5.1% compared to 1.01 trillion yuan at the end of 2023[11] - Monetary funds increased to 167.26 billion RMB as of September 30, 2024, compared to 143.64 billion RMB at the end of 2023[9] - Trade receivables rose to 71.52 billion RMB as of September 30, 2024, up from 68.02 billion RMB at the end of 2023[9] - Inventory decreased to 86.89 billion RMB as of September 30, 2024, from 98.60 billion RMB at the end of 2023[9] - Short-term borrowings increased to 52.10 billion RMB as of September 30, 2024, compared to 44.92 billion RMB at the end of 2023[10] - Accounts payable decreased to 166.43 billion RMB as of September 30, 2024, from 178.67 billion RMB at the end of 2023[10] - Contract liabilities increased to 26.96 billion RMB as of September 30, 2024, up from 21.84 billion RMB at the end of 2023[10] - Long-term equity investments stood at 63.67 billion RMB as of September 30, 2024, down from 66.70 billion RMB at the end of 2023[10] - Fixed assets decreased to 81.84 billion RMB as of September 30, 2024, from 83.89 billion RMB at the end of 2023[10] - Intangible assets slightly decreased to 20.56 billion RMB as of September 30, 2024, from 20.84 billion RMB at the end of 2023[10] - Long-term borrowings as of the end of Q3 2024 were 50.76 billion yuan, a decrease of 1.3% compared to 51.45 billion yuan at the end of 2023[11] Shareholder Information - The company's largest shareholder, SAIC Industrial (Group) Co., Ltd., holds 63.27% of the total shares[6] - The number of ordinary shareholders at the end of the reporting period was 174,903[6] Non-Recurring Items - Non-recurring gains and losses for the quarter amounted to RMB 250.52 million, primarily due to government subsidies and asset disposal gains[4] Profitability Metrics - The weighted average return on equity (ROE) for the quarter was 0.07%, a decrease of 1.43 percentage points year-over-year[3] - The basic earnings per share (EPS) for the quarter was RMB 0.025, a decrease of 93.35% year-over-year[2] Expenses - R&D expenses for the first three quarters of 2024 were 11.53 billion yuan, a decrease of 5.9% compared to 12.25 billion yuan in the same period of 2023[12] - Sales expenses for the first three quarters of 2024 were 18.25 billion yuan, a decrease of 11.2% compared to 20.55 billion yuan in the same period of 2023[12]