COFC(SZ:000798)2024-10-24 09:08Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,292,635,772.56, an increase of 49.94% compared to the same period last year[3] - The net profit attributable to shareholders was -¥54,498,168.12, a decrease of 57.32% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥58,074,843.25, a slight decrease of 0.72% compared to the previous year[3] - The net profit for Q3 2024 was CNY 43,749,680.94, a decrease from CNY 71,490,876.63 in the same period last year, representing a decline of approximately 38.9%[13] - The company reported a total comprehensive income of CNY 45,884,706.88 for the quarter, down from CNY 108,534,157.44 year-over-year, reflecting a decrease of approximately 57.7%[13] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥6,713,867,451.37, reflecting a growth of 12.84% from the end of the previous year[3] - Total liabilities increased to ¥5,028,908,648.11, up 16.6% from ¥4,310,935,453.27 year-over-year[11] - The equity attributable to shareholders of the parent company rose to ¥489,945,147.48, compared to ¥456,302,165.60 in the previous year, marking a growth of 7.4%[11] Cash Flow - The net cash flow from operating activities was -¥98,441,534.93, a drastic decline of 937.82% compared to the previous year[5] - The cash and cash equivalents at the end of the period amounted to CNY 826,737,848.82, an increase from CNY 696,824,906.07 at the end of the previous year[15] - The cash and cash equivalents rose to 834.75 million RMB from 686.35 million RMB, an increase of about 21.5%[9] Research and Development - The company reported a significant increase in research and development expenses, totaling ¥36,858,735.20, which is a 270.30% increase year-on-year[5] - Research and development expenses increased significantly to ¥36,858,735.20, compared to ¥9,953,757.31 in the previous year, reflecting a growth of 269.5%[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 26,437, with the largest shareholder, China Agricultural Development Group, holding 22.14% of shares (81,003,133 shares) [6] - The controlling shareholder, China Agricultural Development Group, plans to transfer its 22.14% stake and China Fishery Zhoushan Ocean Fishery's 100% stake to China Aquatic Company, resulting in a combined holding of 51.67% [8] Government Subsidies - The company received government subsidies amounting to ¥256,231,063.36, an increase of 28.96% compared to the previous year[5] - The company received government subsidies totaling 249.362 million RMB, including 236.08 million RMB related to income and 13.282 million RMB related to assets [8] Future Outlook - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and product offerings[12] - Future guidance indicates a continued focus on cost management and strategic investments to drive growth in the upcoming quarters[12] Other Financial Metrics - The total operating costs amounted to ¥3,442,113,509.33, up 17.6% from ¥2,926,089,143.55 year-over-year[12] - The company incurred a credit impairment loss of CNY 174,102.12, compared to CNY 12,551,172.09 in the previous year, indicating a significant reduction in losses[13] - The total assets impairment loss was CNY -14,108,002.40, a notable increase from CNY -773,961.13 year-over-year[13] - The company’s operating profit for the quarter was CNY 53,466,365.37, down from CNY 62,922,941.56 in the same period last year, representing a decline of approximately 15.5%[13] - The company received tax refunds amounting to CNY 14,172,768.64, compared to CNY 8,168,105.71 in the previous year, reflecting an increase of about 73.5%[15]