FMSH(688385)2024-10-30 10:16Financial Performance - The company's revenue for Q3 2024 was approximately 889.55 million RMB, a decrease of 5.55% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2024 was approximately 79.15 million RMB, down 60.60% year-on-year[4]. - The cumulative revenue from January to September 2024 was approximately 2.684 billion RMB, a decrease of 1.99% compared to the same period last year[3]. - The cumulative net profit attributable to shareholders from January to September 2024 was approximately 427.24 million RMB, a decrease of 34.29% year-on-year[3]. - The gross profit margin for the product lines decreased from 64.58% to 55.05% year-on-year[4]. - The net profit attributable to shareholders decreased by 60.60% in the current reporting period[8]. - The net profit attributable to shareholders for the year-to-date period decreased by 34.29% due to intense market competition and declining product sales prices[8]. - The basic earnings per share for the current period dropped by 60.00%[8]. - The diluted earnings per share for the current period decreased by 58.33%[8]. - The company's net profit for the first three quarters was impacted by increased financial expenses, which rose to CNY 30,912,304.13 from CNY 5,339,727.34[20]. - The net profit for Q3 2024 was CNY 410,937,493.42, a decrease of 38% compared to CNY 663,928,750.13 in Q3 2023[22]. - The total comprehensive income for Q3 2024 was CNY 410,707,235.92, down from CNY 665,640,026.72 in the same period last year[23]. - Basic earnings per share for Q3 2024 were CNY 0.52, compared to CNY 0.80 in Q3 2023, reflecting a decline of 35%[23]. Research and Development - R&D expenses for Q3 2024 totaled approximately 301.68 million RMB, accounting for 33.91% of revenue, an increase of 3.12 percentage points year-on-year[3]. - The company is facing challenges due to increased R&D expenses and a decline in comprehensive gross profit margin[8]. - Research and development expenses reached CNY 803,837,831.02, an increase of 6.1% compared to CNY 757,831,871.78 in the prior year[20]. Assets and Liabilities - The company's total assets as of the end of Q3 2024 were approximately 88.42 billion RMB, an increase of 5.12% from the end of the previous year[3]. - Total assets amounted to CNY 8,841,772,247.60, an increase from CNY 8,411,350,886.39, representing a growth of 5.1%[19]. - Total liabilities increased to CNY 2,500,835,885.21 from CNY 2,449,649,077.25, marking a rise of 2.1%[19]. Cash Flow and Investments - Cash and cash equivalents decreased to CNY 723,801,076.42 from CNY 1,003,337,496.96, a decline of 27.8%[17]. - Accounts receivable rose significantly to CNY 1,489,881,836.30, up 60.2% from CNY 929,619,309.54[17]. - Inventory increased slightly to CNY 3,219,853,349.45, compared to CNY 3,177,370,636.58, reflecting a growth of 1.3%[17]. - The company reported a decrease in cash flow from operating activities, indicating potential liquidity challenges moving forward[20]. - Cash flow from operating activities for the first three quarters of 2024 was CNY 115,359,903.56, a significant improvement from a negative cash flow of CNY -1,102,588,369.69 in the same period last year[25]. - Cash inflow from investment activities in Q3 2024 was CNY 765,352,925.37, compared to CNY 626,636,738.23 in Q3 2023, indicating a 22% increase[25]. - The company reported a net cash outflow from investment activities of CNY -506,311,590.08 for Q3 2024, worsening from CNY -378,716,377.86 in Q3 2023[25]. - Total cash and cash equivalents at the end of Q3 2024 were CNY 703,756,076.42, down from CNY 727,223,855.98 at the end of Q3 2023[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,083[9]. - The largest shareholder, Hong Kong Central Clearing Limited, holds 284,196,830 shares, accounting for 34.70% of total shares[9]. - The second largest shareholder, Shanghai Fudan Microelectronics Group Co., Ltd., holds 109,620,000 shares, representing 13.38%[9]. Market Competition - The company faced intense competition in the market, leading to adjustments in product pricing and a decline in overall gross margin[5]. - The company has reported a 59.77% decrease in net profit after deducting non-recurring gains and losses for the current period[8].