Longi(601012)2024-10-30 10:55Financial Performance - Revenue for the third quarter was RMB 20.06 billion, a decrease of 31.87% year-over-year[2] - Net profit attributable to shareholders for the third quarter was a loss of RMB 1.26 billion, a decrease of 150.14% year-over-year[2] - Total operating income for the first three quarters of 2024 was 58,592,695,599.44, a decrease of approximately 37.7% compared to 94,100,142,094.42 in the same period of 2023[20] - Net profit attributable to parent company shareholders was -6.5 billion yuan, compared to 11.69 billion yuan in the same period last year[21] - Total comprehensive income was -6.63 billion yuan, compared to 11.9 billion yuan in the same period last year[22] - Revenue for the first three quarters of 2024 was RMB 15,140,111,907.08, a significant decrease from RMB 47,237,312,174.38 in the same period of 2023[30] - Net profit for the first three quarters of 2024 increased to RMB 4,100,445,244.08, up from RMB 2,907,063,011.63 in the same period of 2023[30] Assets and Liabilities - Total assets at the end of the reporting period were RMB 155.19 billion, a decrease of 5.35% compared to the end of the previous year[4] - Equity attributable to shareholders at the end of the reporting period was RMB 62.82 billion, a decrease of 10.89% compared to the end of the previous year[4] - Total assets decreased from 163,969,201,409.91 to 155,192,005,658.17, a decline of approximately 5.4%[18] - Total liabilities decreased from 93,257,186,557.39 to 91,866,827,810.13, a decline of approximately 1.5%[19] - Total liabilities decreased from 35.63 billion yuan to 31.22 billion yuan[28] - Total owner's equity increased from 53.18 billion yuan to 55.87 billion yuan[29] Cash Flow - The company's cash flow from operating activities for the year-to-date was a negative RMB 8.37 billion, a decrease of 189.17% year-over-year[7] - Net cash flow from operating activities was -8.37 billion yuan, compared to 9.38 billion yuan in the same period last year[24] - Cash flow from operating activities for the first three quarters of 2024 was negative RMB 18,145,561,661.22, a sharp decline from positive RMB 6,696,613,167.94 in the same period of 2023[34] - Cash flow from investing activities for the first three quarters of 2024 was positive RMB 1,575,540,576.21, compared to negative RMB 733,559,232.07 in the same period of 2023[34] - Cash flow from financing activities for the first three quarters of 2024 was positive RMB 4,840,276,498.98, a significant improvement from negative RMB 2,197,605,155.76 in the same period of 2023[34] Earnings Per Share - The company's basic earnings per share (EPS) for the third quarter was a loss of RMB 0.17, a decrease of 151.52% year-over-year[7] - The company's diluted earnings per share (EPS) for the third quarter was a loss of RMB 0.17, a decrease of 150.00% year-over-year[7] - Basic earnings per share were -0.86 yuan, compared to 1.54 yuan in the same period last year[22] Product Sales and Shipments - Silicon wafer shipments for the first nine months of 2024 reached 82.80GW, with external sales of 35.03GW, a year-on-year decrease of 4.22%[12] - Monocrystalline battery external sales for the first nine months of 2024 were 4.16GW[12] - Module shipments for the first nine months of 2024 reached 51.23GW, with BC module sales of 13.77GW, a year-on-year increase of 17.70%[12] Technological Advancements - The company achieved a major breakthrough in HPBC 2.0 technology with a mass production efficiency of 26.6% for batteries[13] - The company launched centralized Hi-MO 9 modules and distributed Hi-MO X10 modules with a maximum module mass production efficiency of 24.8%, the highest in the industry[13] Share Repurchase and Holdings - The company plans to repurchase shares worth between RMB 300 million and RMB 600 million, and has already repurchased 20.1776 million shares, accounting for 0.27% of the total share capital, with a total payment of RMB 302.8826 million[14] - Chairman Zhong Baoshen plans to increase his shareholding by RMB 100 million to RMB 150 million, and has already increased his holdings by 6.2897 million shares, with a total investment of RMB 101.7867 million[14] Monetary Funds and Inventory - As of September 30, 2024, the company's monetary funds amounted to RMB 51.110 billion, a decrease from RMB 57.001 billion at the end of 2023[15] - The company's inventory as of September 30, 2024 was RMB 19.215 billion, a decrease from RMB 21.540 billion at the end of 2023[16] - Monetary funds decreased from 38.24 billion yuan to 25.90 billion yuan[26] - The company's cash and cash equivalents at the end of the third quarter of 2024 stood at RMB 25,346,704,973.13, down from RMB 37,747,345,025.62 at the end of the same period in 2023[35] Investments and Expenses - Long-term equity investments increased from 8,379,111,255.63 to 9,292,860,083.30, a growth of approximately 10.9%[17] - Fixed assets decreased from 38,262,351,864.06 to 37,058,778,501.30, a decline of approximately 3.1%[17] - R&D expenses for the first three quarters of 2024 were 1,345,661,619.93, a decrease of approximately 16.6% compared to 1,612,826,141.35 in the same period of 2023[20] - Financial expenses for the first three quarters of 2024 were -322,765,351.77, compared to -1,371,055,125.60 in the same period of 2023, indicating a significant reduction in financial costs[20] - Investment losses for the first three quarters of 2024 were -357,333,364.62, compared to a profit of 3,299,694,639.64 in the same period of 2023[20] - Investment income for the first three quarters of 2024 surged to RMB 5,110,265,501.33, compared to RMB 2,607,455,229.98 in the same period of 2023[30] - Long-term equity investments increased from 41.95 billion yuan to 43.37 billion yuan[27] Government Subsidies - Government subsidies received during the reporting period amounted to RMB 101.16 million[5] Cash Flow from Sales and Investments - Cash received from sales of goods and services was 46.28 billion yuan, a decrease from 66.47 billion yuan in the same period last year[23] - Cash received from investment activities was 75.07 billion yuan, a significant increase from 6 billion yuan in the same period last year[24] - Cash paid for the purchase of fixed assets, intangible assets, and other long-term assets was 4.83 billion yuan, a decrease from 7.71 billion yuan in the same period last year[24] - Cash received from disposal of fixed assets, intangible assets, and other long-term assets was 49.02 million yuan, compared to 32.16 million yuan in the same period last year[24] - Investment cash outflow totaled 80.55 billion yuan, with a net cash flow from investment activities of -4.21 billion yuan[25] - Financing cash inflow reached 9.35 billion yuan, with a net cash flow from financing activities of 6.99 billion yuan[25] - Cash and cash equivalents decreased by 5.37 billion yuan, ending the quarter at 49.06 billion yuan[25] Accounts Receivable and Current Assets - Accounts receivable increased from 1.57 billion yuan to 3.19 billion yuan[27] - Total current assets decreased from 45.18 billion yuan to 41.54 billion yuan[27]