Zhongtai Chemical(002092)2023-10-26 16:00Financial Performance - In Q3 2023, the company achieved total operating revenue of ¥30.29 billion, a decrease of 26.4% compared to ¥41.13 billion in the same period last year[22]. - Revenue for the first nine months of 2023 was CNY 30,288,074,709.46, a decline of 26.36% from CNY 41,132,275,755.97 in the same period last year[51]. - Operating revenue for the first nine months of 2023 was CNY 30,288,074,709.46, a decrease of 26.36% year-on-year[63]. - Sales revenue from goods and services received cash of ¥35.44 billion, down from ¥51.09 billion, a drop of approximately 30.6%[36]. - The company reported a net loss attributable to shareholders of ¥-1.17 billion, contrasting with a profit of ¥1.15 billion previously[31]. - The total comprehensive income for the period was ¥-1.57 billion, compared to ¥1.62 billion in the prior year[35]. - Net profit turned negative at ¥-1.59 billion compared to a profit of ¥1.54 billion in the previous period, indicating a significant loss[31]. - The company reported a decrease in tax payable by 46.90% to CNY 202,102,875.07, attributed to a decline in revenue and profit[51]. - The company’s basic earnings per share for the third quarter was CNY -0.0859, a decrease of 2,421.62% year-on-year[64]. - Basic and diluted earnings per share fell to ¥-0.4552 from ¥0.4484, reflecting a significant downturn[35]. - The weighted average return on equity was -0.90%, a slight decrease of 0.09% compared to the previous year[64]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to ¥7.07 billion from ¥8.12 billion at the beginning of the year, reflecting a decline of 12.9%[14]. - Operating cash inflow totaled CNY 37,201,750,702.61, a decrease from CNY 53,095,447,675.60 in the previous period[39]. - Operating cash outflow amounted to CNY 34,648,424,588.17, down from CNY 50,663,488,574.45 year-on-year[39]. - Net cash flow from operating activities was CNY 2,553,326,114.44, slightly up from CNY 2,431,959,101.15[39]. - Total cash and cash equivalents at the end of the period stood at CNY 2,949,714,736.16, compared to CNY 3,034,606,900.11 previously[44]. - Net cash flow from financing activities was CNY 60,199,267.46, a significant decrease from CNY 2,231,810,481.26[44]. - Cash inflow from financing activities was CNY 11,774,700,425.41, down from CNY 14,051,945,015.81[44]. - The company reported a decrease in cash and cash equivalents, with a net decrease of CNY -460,207,018.78, a decline of 287.29%[63]. Assets and Liabilities - The total liabilities of the company as of September 30, 2023, were ¥46.35 billion, down from ¥47.44 billion at the beginning of the year, indicating a reduction of 2.3%[19]. - The total liabilities decreased from ¥33.67 billion to ¥32.67 billion, a decline of about 3%[25]. - Total assets decreased from ¥80.38 billion to ¥77.31 billion, a decline of approximately 3.3%[25]. - The total assets as of the end of the reporting period were CNY 77,310,466,978.26, down 3.82% from the previous year[64]. - The company's total equity decreased to ¥30.96 billion from ¥32.94 billion at the beginning of the year, a decline of 5.9%[19]. - The company reported a decrease in accounts receivable from ¥2.41 billion to ¥1.93 billion, a reduction of 19.8%[14]. - The company's inventory increased to ¥3.70 billion from ¥3.51 billion year-on-year, representing a rise of 5.4%[23]. - Other non-current assets increased by 44.40% to CNY 1,774,274,106.59 due to an increase in prepayments for long-term assets[51]. Operational Highlights - The company produced 141.15 million tons of PVC resin, 100.99 million tons of ion membrane caustic soda, 42.72 million tons of viscose fiber, and 23.62 million tons of viscose yarn by the end of the reporting period[3]. - The company is advancing projects including a 300,000 tons/year BDO project and a 50,000 tons/year trichlorosilane project as planned[3]. - The company faced a fine of ¥3.31 million due to safety violations, which has been rectified and operations have resumed normally[13]. - The company expects PVC market fluctuations to be limited in Q4 due to strong cost support from rising energy prices[4]. Expenses - Operating costs reduced from ¥39.67 billion to ¥31.62 billion, a decrease of about 20.3%[28]. - Research and development expenses slightly decreased from ¥235.44 million to ¥219.87 million, a reduction of about 6.6%[28]. - The company's financial expenses decreased from ¥902.54 million to ¥809.92 million, a reduction of approximately 10.3%[28]. - Investment income decreased by 159.63% to CNY -210,372,027.57 due to losses from joint ventures[63]. - Cash flow from investment activities improved by 31.01%, with a net outflow of CNY -3,087,668,085.62[63].