TC(SH:603421)2024-10-24 11:11Financial Performance - The company's operating revenue for Q3 2024 was ¥817,731,861.94, representing a decrease of 4.31% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥20,211,072.33, an increase of 12.69% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥20,032,657.15, reflecting a 16.05% increase compared to the previous year[2]. - The company experienced a significant decline in net profit year-to-date, down 152.84% compared to the previous year, primarily due to asset impairment losses[8]. - Net profit for the third quarter of 2024 was a loss of ¥28,436,940.22, a significant decline compared to a profit of ¥53,815,253.00 in the same quarter of 2023[16]. - The total comprehensive income attributable to the parent company for Q3 2024 was -28,436,940.22 CNY, compared to 53,815,253.00 CNY in Q3 2023, indicating a significant decline[17]. - The net profit for the first three quarters of 2024 was CNY 104,009,269.98, up from CNY 84,646,822.94 in the previous year, reflecting a growth of 22.83%[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,260,958,988.48, down 11.13% from the end of the previous year[4]. - The total assets decreased to CNY 5,221,100,994.95 from CNY 5,610,338,027.46, a decline of 6.93% year-over-year[21]. - The total liabilities decreased to ¥1,910,027,420.33 in Q3 2024 from ¥2,500,412,055.13 in Q3 2023, a reduction of approximately 23.5%[14]. - The total liabilities decreased to CNY 1,395,589,843.41 from CNY 1,849,052,524.94, a reduction of 24.48%[21]. - The total equity attributable to shareholders was ¥3,350,931,568.15, down from ¥3,419,152,129.33 in the previous year, representing a decrease of about 2.0%[14]. - The total equity increased to CNY 3,825,511,151.54 from CNY 3,761,285,502.52, reflecting a growth of 1.71%[21]. Cash Flow - The company reported a net cash flow from operating activities of ¥28,225,300.69 for the year-to-date, indicating a positive cash flow trend[2]. - Cash inflow from operating activities for the first three quarters of 2024 was 2,525,221,176.50 CNY, slightly down from 2,573,528,808.92 CNY in the same period of 2023[18]. - Net cash flow from operating activities for Q3 2024 was 28,225,300.69 CNY, a recovery from a net outflow of -189,674,280.55 CNY in Q3 2023[18]. - The company reported a significant decrease in cash and cash equivalents, indicating potential liquidity challenges[25]. - The company's cash flow from sales of goods and services for the first three quarters of 2024 was 2,472,051,016.45 CNY, slightly up from 2,449,202,090.56 CNY in the same period of 2023[18]. Expenses - Total operating costs for the first three quarters of 2024 were ¥2,204,064,932.80, slightly up from ¥2,198,257,811.16 in 2023, indicating a marginal increase of 0.26%[15]. - Research and development expenses for the first three quarters of 2024 amounted to ¥362,203,589.48, compared to ¥357,984,104.60 in 2023, reflecting a 1.61% increase[15]. - Research and development expenses for the first three quarters of 2024 were CNY 236,717,674.32, down from CNY 265,521,894.79, indicating a decrease of 10.85%[21]. - The company reported a decrease in sales expenses to CNY 228,367,132.66 from CNY 279,104,507.00, a reduction of 18.19%[21]. - Financial expenses decreased to ¥17,936,573.18 in Q3 2024 from ¥25,106,536.06 in Q3 2023, showing a reduction of approximately 28.5%[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,470[9]. - The company has no shareholders participating in margin financing or securities lending activities[10]. Operational Challenges - The company received a blacklist warning from China Southern Power Grid on July 29, 2024, which may significantly impact operational performance[10]. - The company anticipates that changes in customer policies, particularly penalties from State Grid Corporation, will adversely affect its performance and increase impairment expectations[10]. - The company reported a significant reduction in goodwill from ¥27,135,800.27 to ¥0.00, indicating a potential impairment[12]. Cash and Cash Equivalents - The company's cash and cash equivalents decreased to ¥637,994,248.55 from ¥752,055,463.30, a decline of approximately 15.1%[11]. - Cash and cash equivalents at the end of Q3 2024 were 555,207,606.03 CNY, compared to 217,594,223.45 CNY at the end of Q3 2023[18]. - The total cash and cash equivalents at the end of the period amounted to 352,116,166.30, down from 56,161,351.27 in the previous period[25]. Investment Activities - Investment activities generated a net cash outflow of -24,775,438.96 CNY in Q3 2024, an improvement from -53,982,845.77 CNY in Q3 2023[18]. - The net cash flow from investment activities was -13,974,971.69, compared to -40,426,817.28 in the previous period[25]. - The cash inflow from investment activities was 100,648,210.85, an increase from 76,133.78 in the previous period[25]. - The cash outflow for the acquisition of fixed assets and intangible assets was 12,823,182.54, compared to 40,502,951.06 in the previous period[25]. Future Outlook - The company is implementing new accounting standards starting in 2024, which may affect future financial reporting[25].