JOVE(300814)2024-10-24 09:25Revenue and Profitability - Revenue for Q3 2024 reached ¥379,566,536.36, an increase of 28.04% year-over-year[2] - Net profit attributable to shareholders was ¥5,688,545.97, up 1.72% compared to the same period last year[2] - Net profit excluding non-recurring items was ¥6,546,521.97, reflecting a significant increase of 25.78% year-over-year[2] - Total operating revenue for Q3 2024 reached ¥1,043,775,797.11, an increase of 12.1% compared to ¥930,742,435.38 in the same period last year[17] - The net profit for Q3 2024 was CNY 31,072,421.06, an increase from CNY 29,108,304.51 in Q3 2023, representing a growth of approximately 6.7%[18] - The company reported a total comprehensive income of CNY 32,812,280.87 for Q3 2024, compared to CNY 29,399,649.52 in Q3 2023, marking an increase of around 8.2%[19] - Basic earnings per share for Q3 2024 were CNY 0.18, slightly up from CNY 0.17 in Q3 2023, indicating a growth of approximately 5.9%[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,669,176,244.09, representing a growth of 17.98% from the previous year[2] - Total assets reached ¥2,669,176,244.09, up from ¥2,262,374,735.91, showing an increase of 18%[16] - Total liabilities increased to ¥1,494,108,748.38 from ¥1,100,309,358.32, which is a rise of 35.8%[15] - The company's equity attributable to shareholders rose to ¥1,174,993,718.52, compared to ¥1,161,894,012.07, an increase of 1.1%[16] Cash Flow - Cash flow from operating activities for the year-to-date was ¥120,715,236.82, an increase of 29.73% compared to the same period last year[2] - The cash flow from operating activities showed a net increase of CNY 120,715,236.82, up from CNY 93,052,303.68 in the same period last year, reflecting a growth of approximately 29.8%[21] - The cash and cash equivalents at the end of Q3 2024 amounted to CNY 196,013,253.93, a significant increase from CNY 91,495,442.43 at the end of Q3 2023[22] - The company experienced a net cash outflow from investing activities of CNY -193,412,646.43, an improvement from CNY -239,429,529.46 in the previous year[21] Operating Costs and Expenses - Total operating costs amounted to ¥1,011,147,405.30, up from ¥893,754,540.34, reflecting a rise of 13.2% year-over-year[17] - Research and development expenses increased to ¥59,925,282.05, compared to ¥46,430,888.87 in the previous year, marking a growth of 28.9%[17] Financial Performance - The total operating profit for Q3 2024 was CNY 27,574,499.37, down from CNY 31,135,173.97 in Q3 2023, reflecting a decrease of approximately 11.1%[18] - The total revenue from operating activities was CNY 775,636,901.09, compared to CNY 811,301,484.72 in the previous year, indicating a decrease of about 4.4%[21] Investment and Other Income - Other income surged by 403.71% to 10,773,467.88 CNY, primarily due to increased government subsidies[7] - Investment income increased by 55.42% to 1,181,351.50 CNY, driven by higher returns from trading financial assets[7] - The company reported a decrease in the investment income from joint ventures, with a loss of CNY -2,310,640.01 compared to a loss of CNY -1,007,397.02 in the previous year[18] - The total cash inflow from investment activities was CNY 1,966,066,489.97, significantly higher than CNY 701,577,695.79 in Q3 2023, indicating a growth of approximately 179.5%[21] Changes in Financial Metrics - The weighted average return on equity was 0.49%, a slight decrease of 0.01% compared to the previous year[2] - Financial expenses decreased by 45.28% to -6,042,157.60 CNY, primarily due to exchange rate fluctuations affecting foreign exchange gains and losses[7] - Interest expenses increased significantly by 621.18% to 13,224,270.50 CNY, mainly due to increased bond interest payments during the reporting period[7] - Interest income rose by 294.01% to 10,088,708.37 CNY, attributed to an increase in time deposits[7] - Losses from investments in associates and joint ventures worsened by 129.37% to -2,310,640.01 CNY, mainly due to losses from investments in associates[7] - The fair value change loss amounted to -1,982,431.52 CNY, primarily due to changes in the fair value of foreign exchange swap products[7] - Credit impairment losses decreased by 177.57% to -3,130,942.79 CNY, influenced by increased receivables due to higher operating income[7] - The income tax expense turned negative at -3,826,803.75 CNY, reflecting the impact of profit and deferred tax factors[7] - The foreign currency translation difference increased by 497.18% to 1,739,859.81 CNY, mainly due to exchange rate fluctuations affecting the translation of foreign currency financial statements[7] Borrowings and Prepayments - Short-term borrowings surged by 217.55% to ¥330,541,658.89, primarily due to increased bank loans[6] - The company reported a 141.91% increase in prepayments, totaling ¥2,210,064.74, due to an increase in related projects[5] - Other non-current assets increased by 2525.44% to ¥57,177,625.13, mainly due to prepayments for equipment[6] Inventory and Receivables - Accounts receivable rose to ¥344,624,269.61 from ¥301,574,455.33, indicating an increase of 14.3%[13] - Inventory levels increased to ¥380,749,122.71, compared to ¥298,190,465.45, reflecting a growth of 27.7%[13] - The company experienced a 30.93% rise in accounts payable, reaching ¥404,982,563.54, attributed to increased inventory purchases[6]