QCIOT(688528)2023-10-26 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥89,616,519.29, representing a decrease of 9.79% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥9,870,576.38, a decline of 418.76% year-on-year[6]. - The company reported a basic and diluted earnings per share of -¥0.05, a decrease of 350.00% compared to the same period last year[7]. - The company's operating revenue and net profit attributable to shareholders have declined year-to-date, primarily due to intensified market competition and increased operational costs[14]. - Total operating revenue for the first three quarters of 2023 was CNY 222,732,986.04, a decrease of approximately 12.06% compared to CNY 253,149,847.92 in the same period of 2022[20]. - Net profit for the third quarter of 2023 was a loss of CNY 44,438,618.71, compared to a loss of CNY 3,060,715.26 in the same quarter of 2022[22]. - The net profit for the first three quarters of 2023 was a loss of approximately RMB 36.50 million, compared to a loss of RMB 1.56 million in the same period of 2022, indicating a significant decline in profitability[33]. - The total operating profit for the first three quarters of 2023 was a loss of approximately RMB 43.37 million, compared to a loss of RMB 8.29 million in the same period of 2022[33]. - The company experienced a total comprehensive loss of approximately RMB 36.50 million for the first three quarters of 2023, compared to a loss of RMB 1.56 million in the same period of 2022[33]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥20,974,684.50, down 164.95% compared to the previous year[7]. - The net cash flow from operating activities was -74,195,879.86 RMB, a decrease from -29,328,723.48 RMB in the previous year, indicating a worsening cash flow situation[26]. - The cash outflow from investing activities was -44,441,043.24 RMB, compared to -37,519,583.13 RMB in the previous year, indicating increased investment expenditures[26]. - The cash inflow from financing activities was RMB 64 million, a decrease from RMB 91 million in the same period of 2022[35]. - The company's cash and cash equivalents decreased to ¥163.91 million from ¥268.16 million at the end of 2022, indicating liquidity challenges[15]. - The company's cash and cash equivalents decreased to 150,664,548.13 RMB from 225,807,601.01 RMB, showing a significant reduction in liquidity[27]. - The company reported a cash and cash equivalents balance of approximately RMB 119.38 million at the end of the third quarter, down from RMB 151.54 million at the end of the same period last year[35]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,012,486,767.21, a decrease of 2.94% from the end of the previous year[7]. - As of September 30, 2023, total assets amounted to approximately ¥1,012.49 million, a decrease from ¥1,043.14 million at the end of 2022[16]. - The total liabilities as of the end of the third quarter of 2023 were CNY 306,989,378.96, compared to CNY 293,203,515.94 at the end of the previous year[18]. - The total liabilities increased to 297,442,433.98 RMB from 278,990,517.57 RMB, indicating a rise in the company's debt levels[30]. - The total equity attributable to shareholders was ¥705,497,388.25, down 5.93% from the previous year[7]. - The total equity attributable to shareholders of the parent company was CNY 705,497,388.25, a decrease from CNY 749,936,006.96 in the previous year[18]. - The company's equity decreased to 716,439,329.55 RMB from 752,938,665.01 RMB, reflecting a decline in shareholder value[31]. Research and Development - Research and development expenses totaled ¥16,870,863.70, an increase of 32.49% year-on-year, accounting for 18.83% of operating revenue[7]. - Research and development expenses for the third quarter of 2023 amounted to CNY 48,722,719.38, up from CNY 35,545,339.13 in the previous year[21]. - Research and development expenses increased to approximately RMB 46.16 million, up 31.24% from RMB 35.19 million in the previous year, reflecting the company's commitment to innovation[32]. Market and Competition - The decline in net profit is attributed to intensified market competition and increased expenses related to new product development and marketing efforts[10]. - The company is facing risks related to macroeconomic conditions, market competition, and potential litigation costs that could adversely affect profitability[14]. - The company plans to expand its market presence and enhance its product offerings to counteract declining revenues[14]. - The company has invested in new product development and technology to maintain competitive advantages despite market challenges[14]. - The company plans to continue increasing investment in new products and technologies to enhance competitiveness[10]. Operational Challenges - Cash received from sales of goods and services in the first three quarters of 2023 was CNY 178,448,923.41, down from CNY 213,770,566.55 in the same period of 2022[24]. - Accounts receivable increased to ¥268.30 million from ¥243.32 million, reflecting potential collection issues[15]. - Accounts receivable increased to 268,037,019.46 RMB from 243,495,616.72 RMB, indicating a rise in outstanding customer payments[28]. - The company has ongoing construction projects for subsidiaries, which may impact short-term financial performance but are aimed at long-term growth[14]. - Inventory decreased to 62,557,756.35 RMB from 65,463,218.43 RMB, suggesting improved inventory management[29].