Shanghai Geoharbour Construction (605598)2024-10-30 07:47Financial Performance - The company's operating revenue for Q3 2024 was ¥313,645,066.84, representing a decrease of 6.31% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥35,059,171.84, down 7.90% year-over-year, while the year-to-date net profit decreased by 24.48% to ¥108,870,999.67[2]. - The basic earnings per share for Q3 2024 was ¥0.14, reflecting a decline of 12.50% compared to the same period last year[3]. - The weighted average return on equity for Q3 2024 was 1.93%, a decrease of 0.41 percentage points year-over-year[3]. - Total operating revenue for the first three quarters of 2024 reached CNY 944,172,260.82, an increase of 4.8% compared to CNY 901,083,958.75 in the same period of 2023[14]. - Net profit for the first three quarters of 2024 was CNY 107,880,938.17, a decrease of 25.0% from CNY 144,128,581.01 in the previous year[15]. - Comprehensive income attributable to the parent company was CNY 114,995,455.94, down from CNY 180,003,743.13 in the previous year, a decrease of 36.1%[17]. Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥72,286,347.34, a significant decline of 151.55% compared to the same period last year[5]. - Cash flow from operating activities totaled CNY 875,982,410.78, slightly down from CNY 876,866,624.76 in the previous year[18]. - The net cash flow from operating activities was -140.22 million in the previous period[19]. - The net cash flow from investing activities was 173.87 million in the prior period[19]. - The net cash flow from financing activities was -7.21 million in the previous period[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,295,535,844.39, an increase of 5.61% from the end of the previous year[3]. - As of September 30, 2024, the company's total assets reached approximately 2.296 billion RMB, an increase from 2.174 billion RMB at the end of 2023[11]. - The total liabilities of the company as of September 30, 2024, were approximately 437 million RMB, compared to 419 million RMB at the end of 2023, showing a slight increase[12]. - The company's equity attributable to shareholders reached approximately 1.858 billion RMB, an increase from 1.755 billion RMB at the end of 2023[12]. Costs and Expenses - The company reported a significant increase in costs, which contributed to the negative cash flow from operating activities[5]. - Total operating costs increased to CNY 809,520,282.11, up 9.5% from CNY 739,040,008.46 year-over-year[14]. - Research and development expenses increased significantly to CNY 27,798,891.37, compared to CNY 14,335,561.50 in the same period last year, reflecting a growth of 94.5%[14]. - The company reported a decrease in sales expenses to CNY 6,551,290.08 from CNY 8,341,230.13, a reduction of 21.4% year-over-year[14]. Shareholder Information - The largest shareholder, Shanghai Longwan Investment Holding Co., Ltd., holds 168,000,000 shares, accounting for 68.36% of the total shares[6]. Strategic Focus - The company is focusing on expanding its international business, particularly in Southeast Asia and the Middle East, while also exploring opportunities in Africa[9]. - The company continues to emphasize its commitment to sustainable value creation through a global strategy in the geotechnical engineering market[9]. Other Income and Gains - The company received government subsidies amounting to ¥639,690.85 during the reporting period, contributing to its non-operating income[4]. - The total non-recurring gains and losses for the reporting period amounted to -¥1,033,148.47, with a year-to-date total of ¥4,379,520.80[4]. - Other income rose to CNY 3,164,312.22, compared to CNY 2,726,012.59 in the previous year, marking an increase of 16.1%[14]. Accounting Standards - The company has adopted new accounting standards starting in 2024, which may affect future financial reporting[20].