GACO(600523)2023-10-22 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥639,427,842.02, representing a year-over-year increase of 16.36%[3] - The net profit attributable to shareholders for Q3 2023 was ¥47,362,804.00, a decrease of 1.43% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥42,605,174.71, down 23.91% year-over-year[3] - Total operating revenue for the first three quarters of 2023 reached ¥1,693,083,070.67, an increase of 7.25% compared to ¥1,578,455,417.03 in the same period of 2022[18] - Net profit for the third quarter of 2023 was ¥115,317,924.17, representing a 20.38% increase from ¥95,787,022.77 in the same quarter of 2022[20] - The total comprehensive income attributable to the parent company for Q3 2023 was CNY 111,366,486.33, an increase from CNY 91,754,142.61 in Q3 2022, representing a growth of approximately 21.3%[21] Cash Flow - The net cash flow from operating activities for Q3 2023 was ¥21,650,766.66, an increase of 168.34%[3] - Net cash flow from operating activities for the first three quarters of 2023 was negative CNY 6,553,378.42, a significant decline from positive CNY 55,762,764.95 in the same period of 2022[22] - Cash inflow from operating activities totaled CNY 1,104,257,213.30 for the first three quarters of 2023, compared to CNY 1,148,889,874.57 in 2022, reflecting a decrease of about 3.9%[22] - Cash outflow from operating activities was CNY 1,110,810,591.72 in the first three quarters of 2023, compared to CNY 1,093,127,109.62 in 2022, marking an increase of approximately 1.6%[22] - The cash and cash equivalents balance at the end of Q3 2023 was CNY 405,739,609.32, down from CNY 484,187,629.36 at the end of Q3 2022[22] Assets and Liabilities - The total assets at the end of Q3 2023 amounted to ¥3,702,417,826.20, reflecting a year-to-date increase of 7.37%[4] - The company's total liabilities increased to ¥752,141,748.44 in Q3 2023, compared to ¥562,330,635.64 in Q3 2022, marking a growth of 33.73%[19] - The company's current assets totaled RMB 2,064,277,677.54, up from RMB 1,855,040,966.73 at the end of 2022, indicating an increase of about 11.27%[15] - The total liabilities increased to RMB 711,450,496.31 from RMB 524,157,469.87, marking an increase of approximately 35.73%[16] Investments and Equity - The company reported a 32.49% increase in investment income due to improved profitability of its associated enterprises[9] - The company's long-term equity investments stood at RMB 495,644,030.10, slightly down from RMB 498,884,647.01 at the end of 2022[15] - The total equity attributable to shareholders reached ¥2,889,932,897.15, up from ¥2,818,453,529.95, indicating a growth of 2.53% year-over-year[19] Expenses - Total operating costs for the third quarter of 2023 were ¥1,540,787,644.59, up from ¥1,465,278,811.87 in the previous year, reflecting a year-over-year increase of 5.14%[19] - Research and development expenses for the third quarter of 2023 were ¥94,065,594.83, an increase of 26.73% compared to ¥74,222,183.73 in the same quarter of 2022[19] - The company reported an operating profit of ¥141,907,754.68 for Q3 2023, which is a 20.93% increase from ¥117,079,897.04 in Q3 2022[19] Receivables and Inventory - The company's accounts receivable increased by 43.77% due to higher sales revenue and increased outstanding receivables[8] - Accounts receivable rose to RMB 899,062,231.01 from RMB 625,331,258.94, representing a significant increase of approximately 43.67%[15] - The company’s inventory as of September 30, 2023, was RMB 393,999,683.24, a slight decrease from RMB 399,599,312.56 at the end of 2022[15] Other Financial Information - The company's cash and cash equivalents decreased to RMB 405,739,609.32 from RMB 542,096,637.42, a decline of about 25.24%[15] - The company has recognized a bad debt provision of RMB 39.56 million due to recoverable amounts being lower than the book value[14] - The company has agreed to extend the operating period of its joint venture, Suzhou Mobis, by 2 years, with a payment of RMB 10 million received on September 25, 2023[14]