Springsnow Food (SH:605567)2023-10-27 16:00Financial Performance - The company's revenue for Q3 2023 was CNY 719,775,048.53, representing a year-over-year increase of 2.47%[3] - The net profit attributable to shareholders for Q3 2023 was CNY 7,260,672.90, a decrease of 79.31% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was CNY 6,580,197.34, down 80.31% year-over-year[3] - The basic earnings per share for Q3 2023 was CNY 0.0363, reflecting a decline of 79.31% from the previous year[4] - The weighted average return on equity for Q3 2023 was 0.65%, a decrease of 2.40 percentage points compared to the end of the previous year[4] - The company experienced a decrease in gross margin due to weakened consumer demand and increased costs, impacting overall profitability[8] - Operating revenue for the first three quarters of 2023 reached ¥2,096,309,015.00, a 14.8% increase from ¥1,825,831,027.55 in the same period of 2022[20] - Net profit for the third quarter was ¥20,990,747.53, a significant decrease of 73.0% compared to ¥77,798,021.28 in the previous year[22] - Basic and diluted earnings per share for the third quarter were both ¥0.1050, down from ¥0.389 in the same quarter last year[22] Assets and Liabilities - Total assets at the end of Q3 2023 amounted to CNY 2,171,092,231.87, an increase of 9.68% from the end of the previous year[4] - Total assets increased to ¥2,171,092,231.87, up from ¥1,979,460,129.27, representing a growth of approximately 9.7% year-over-year[16] - Total liabilities rose to ¥1,049,964,424.50, compared to ¥829,819,980.59, indicating an increase of about 26.5%[16] - The total equity attributable to shareholders decreased to ¥1,121,127,807.37 from ¥1,149,640,148.68, a decline of about 2.5%[17] Cash Flow - The cash flow from operating activities for the year-to-date period was CNY 156,724,302.89, showing a significant increase of 190.73%[3] - In the first three quarters of 2023, the cash inflow from operating activities was approximately CNY 2.40 billion, an increase from CNY 2.10 billion in the same period of 2022, representing a growth of about 14.3%[25] - The net cash flow from operating activities for the first three quarters of 2023 was CNY 156.72 million, significantly up from CNY 53.91 million in 2022, marking an increase of approximately 190.5%[25] - The total cash and cash equivalents at the end of Q3 2023 were CNY 289.74 million, down from CNY 383.95 million at the end of Q3 2022, representing a decrease of about 24.5%[26] - The cash inflow from financing activities increased to CNY 672.57 million in 2023, compared to CNY 425.13 million in 2022, showing a growth of approximately 58.2%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,647[11] - The company has a significant shareholder, Shandong Chunxue Food Co., Ltd., holding 27.0% of shares[11] - The top ten shareholders collectively hold a substantial portion of the company's equity, with the largest shareholder owning 54,045,000 shares[11] Strategic Initiatives - The company plans to enhance its market strategies and product offerings to address the current challenges in consumer demand and pricing[8] - The company is actively involved in market expansion and new product development, as indicated by its investment in new technologies[12] - The company is focused on enhancing its financial position and operational efficiency through strategic investments and partnerships[13] Inventory and Receivables - Accounts receivable increased to RMB 111,967,326.46 from RMB 106,635,092.29, reflecting a growth of about 5.5%[15] - Inventory decreased to RMB 369,496,610.62 from RMB 405,247,238.42, indicating a decline of approximately 8.8%[15] - Non-current assets totaled RMB 1,172,098,046.79 as of September 30, 2023, compared to RMB 1,008,371,031.86 at the end of 2022, marking an increase of around 16.2%[15] Expenses - Research and development expenses for the third quarter were ¥4,605,459.56, slightly down from ¥4,879,456.21[21] - The company reported a financial expense of ¥5,251,275.36, compared to a financial income of ¥7,217,853.16 in the previous year[21]