CITIC Wine(SH:600084)2024-10-25 07:37Revenue and Profitability - Revenue for Q3 2024 decreased by 10.66% year-over-year, totaling ¥101,764,796.75, and a decline of 36.92% year-to-date[2] - Net profit attributable to shareholders increased by 270.09% in Q3 2024, amounting to ¥407,144.60, but decreased by 94.69% year-to-date[2] - Basic earnings per share for Q3 2024 were ¥0.0004, reflecting a decrease of 94.12% year-to-date[2] - Total operating revenue for the first three quarters of 2024 was CNY 101,764,796.75, a decrease of 37% compared to CNY 161,325,130.96 in the same period of 2023[14] - Net profit for the first three quarters of 2024 was CNY 451,643.96, a significant decline from CNY 8,021,106.39 in the same period of 2023[15] - The company reported a net loss attributable to shareholders of CNY 2,612,160,587.63, compared to a loss of CNY 2,612,567,732.23 in the previous year[14] - Basic earnings per share for the first three quarters of 2024 were CNY 0.0004, compared to CNY 0.0068 in the same period of 2023[15] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of ¥46,256,399.63 for Q3 2024, a decline of 213.29% year-to-date[2] - Total cash inflow from operating activities for the first three quarters of 2024 was CNY 113,443,600.94, a decrease of 44.4% compared to CNY 203,932,948.37 in the same period of 2023[17] - Net cash outflow from operating activities was CNY -46,256,399.63, contrasting with a net inflow of CNY 40,828,660.97 in the first three quarters of 2023[17] - Cash and cash equivalents decreased to RMB 67,050,146.91 from RMB 115,842,257.71, representing a significant drop of about 42%[10] - Cash and cash equivalents at the end of Q3 2024 were CNY 66,843,671.01, down from CNY 103,294,594.99 at the end of Q3 2023, representing a decrease of 35.3%[18] - Cash received from tax refunds was CNY 323,758.95, significantly lower than CNY 2,489,639.24 in the same period of 2023[17] Assets and Liabilities - Total assets as of the end of the reporting period were ¥1,376,048,657.85, down 3.03% from the previous year[3] - The total liabilities decreased to RMB 119,246,163.07 from RMB 158,680,503.19, reflecting a reduction of about 25%[11] - The total liabilities of the company as of the end of the reporting period were CNY 150,696,446.44, down from CNY 193,904,616.60 year-over-year[14] - The company reported a significant reduction in accounts payable, which decreased to RMB 32,871,238.66 from RMB 71,749,873.63, a decline of approximately 54%[11] - The company’s non-current assets totaled RMB 384,674,312.52, down from RMB 403,180,868.22, indicating a decrease of about 4.6%[11] Operational Performance - The decrease in revenue was primarily attributed to a reduction in finished wine sales[6] - Marketing and labor costs contributed to the increase in net profit for Q3 2024[6] - The company reported a significant decrease in cash flow due to reduced sales collections compared to the previous year[6] - The company has maintained normal production and operational activities despite the share pledges, with no impact reported on daily operations[9] - The company is focusing on market expansion and new product development to improve future performance[14] Other Financial Metrics - Non-recurring gains for the current period amounted to ¥3,229,957.18, with year-to-date non-recurring gains totaling ¥5,889,209.21[5] - Research and development expenses for the first three quarters of 2024 amounted to CNY 376,628.21, indicating ongoing investment in innovation[14] - The company recorded other income of CNY 5,359,928.94, an increase from CNY 3,540,337.82 in the previous year[14] - Total operating costs for the first three quarters of 2024 were CNY 108,517,825.66, down from CNY 160,841,063.88 in the previous year, reflecting a cost reduction strategy[14] Shareholder Information - The controlling shareholder, CITIC Guoan Industrial Group, has pledged 462,902,700 shares, accounting for 91.68% of its holdings and 41.19% of the company's total share capital[9] - The total equity attributable to shareholders was CNY 1,277,716,107.20, slightly up from CNY 1,277,566,867.04 in the previous year[14] Accounting Standards - The company has not adopted new accounting standards for the current reporting period[19]