TES(003019)2023-10-27 16:00Financial Performance - Revenue for the third quarter was RMB 326.32 million, a decrease of 30.71% year-over-year[4] - Net profit attributable to shareholders was RMB 43.46 million, down 48.87% compared to the same period last year[4] - Operating revenue decreased by 31.29% to RMB 1,004,080,288.39, impacted by weak demand and customer inventory reduction[9] - Net profit declined by 43.86% to RMB 124,672,193.84 due to global economic conditions[9] - Revenue for the period decreased to 1,004,080,288.39 yuan from 1,461,376,012.67 yuan in the previous period, a decline of 31.3%[19] - Net profit for the period was 124,672,193.84 yuan, down from 222,088,281.80 yuan in the previous period, a decrease of 43.9%[20] - Basic earnings per share decreased to 0.77 yuan from 1.37 yuan, a decline of 43.8%[21] - Sales revenue from goods and services was 1,163,735,740.83 yuan, down from 1,489,454,282.14 yuan in the previous period, a decrease of 21.9%[22] Cash Flow and Liquidity - Cash flow from operating activities increased by 53.67% to RMB 325.94 million year-to-date[4] - Cash flow from operating activities increased by 53.67% to RMB 325,937,393.82 due to improved inventory management and accounts receivable collection[10] - Cash received from investment activities rose by 84.01% to RMB 1,565,764,277.92, mainly from the redemption of financial products[10] - Cash and cash equivalents at the end of the period grew by 121.63% to RMB 426,684,326.05[10] - Cash flow from operating activities increased to 325,937,393.82 yuan from 212,105,582.80 yuan, a growth of 53.7%[23] - Cash flow from investing activities was negative at -82,268,724.42 yuan, compared to -48,906,769.62 yuan in the previous period[23] - Cash flow from financing activities was negative at -66,199,165.12 yuan, an improvement from -231,590,520.84 yuan in the previous period[24] - The company's cash and cash equivalents at the end of the period were 426,684,326.05 yuan, up from 190,243,708.18 yuan at the beginning of the period[24] Assets and Liabilities - Total assets grew by 1.95% to RMB 1.89 billion compared to the end of the previous year[4] - Inventory decreased by 34.88% to RMB 263.81 million due to active inventory management[8] - Long-term equity investments increased by 100% to RMB 42.92 million due to a 30% stake acquisition in Ruixun[8] - Construction in progress surged by 222.19% to RMB 28.31 million, mainly for the development of a new R&D building[8] - Short-term borrowings rose by 62.60% to RMB 117.90 million, primarily for foreign exchange risk management[8] - Contract liabilities increased by 410.22% to RMB 21,951,861.33 due to higher advance payments from customers[9] - Long-term borrowing increased by 100.00% to RMB 13,400,000.00 to support R&D expenditure[9] - As of September 30, 2023, the company's total assets amounted to 1,886,907,944.30 yuan, with total liabilities of 348,352,668.48 yuan and total equity of 1,538,555,275.82 yuan[18] - The company's monetary funds increased significantly from 249,724,204.15 yuan at the beginning of the year to 428,284,326.05 yuan as of September 30, 2023[16] - Trade receivables decreased from 364,573,833.89 yuan at the beginning of the year to 257,903,544.53 yuan as of September 30, 2023[16] - Inventory decreased from 405,099,459.06 yuan at the beginning of the year to 263,812,298.54 yuan as of September 30, 2023[16] - The company's short-term borrowings increased from 72,507,841.47 yuan at the beginning of the year to 117,901,135.00 yuan as of September 30, 2023[17] - The company's total current liabilities decreased slightly from 308,450,656.04 yuan at the beginning of the year to 302,141,787.52 yuan as of September 30, 2023[17] - The company's total non-current liabilities increased from 20,933,682.80 yuan at the beginning of the year to 46,210,880.96 yuan as of September 30, 2023[18] - The company's retained earnings decreased from 432,603,669.20 yuan at the beginning of the year to 412,786,672.48 yuan as of September 30, 2023[18] Investments and Acquisitions - The company plans to acquire 60% equity of Hongtong Technology (Xiamen) Co., Ltd., increasing its total ownership to 70% after the transaction, which will expand the company's operational and revenue scale[14] - The acquisition of Hongtong Technology is strategically aligned with the company's development in the high-growth new energy vehicle display industry, leveraging synergies in R&D, production, management, and supply chain[14] Government Subsidies and Non-Operating Income - Government subsidies received during the period amounted to RMB 4.84 million year-to-date[6] - Non-operating income and expenses totaled RMB 13.51 million year-to-date, primarily from asset disposals and financial investments[6] R&D and Operational Costs - Operating costs decreased to 687,206,597.98 yuan from 1,050,959,866.51 yuan, a reduction of 34.6%[20] - R&D expenses increased to 48,071,534.55 yuan from 41,281,782.30 yuan, reflecting a 16.4% increase[20] Shareholder Information - IPC Management Limited holds the largest share at 30.87% with 50,284,256 shares[12] Corporate Governance and Reporting - The company's third quarter report for 2023 is unaudited[25] - The company's board of directors meeting was held on October 27, 2023[26] Interest Income - Interest income surged by 7,463.26% to RMB 6,870,451.36 from investments in large deposits and notice deposits[9]