Lianming(SH:603006)2024-10-25 07:35Financial Performance - Revenue for Q3 2024 decreased by 44.20% year-on-year, totaling ¥525,457,176.55, and a decline of 32.54% year-to-date[3] - Net profit attributable to shareholders decreased by 80.54% in Q3 2024, amounting to ¥47,489,961.52, with a year-to-date decline of 52.53%[3] - Net profit excluding non-recurring items decreased by 79.66% in Q3 2024, totaling ¥39,464,156.71, and a year-to-date decline of 50.52%[3] - Basic and diluted earnings per share for Q3 2024 were both ¥0.04, representing a decrease of 80.81%[7] - The operating revenue for Q3 2024 was CNY 525,457,176.55, a decrease of 32.5% compared to CNY 778,896,277.28 in Q3 2023[14] - The total profit for Q3 2024 was CNY 50,067,822.68, a decrease of 58.7% compared to CNY 121,331,506.92 in Q3 2023[14] Cash Flow and Liquidity - Operating cash flow for Q3 2024 was ¥8,287,286.95, reflecting a significant decline of 91.65% year-to-date[3] - Cash flow from operating activities for the first nine months of 2024 was CNY 8,287,286.95, a significant decrease from CNY 99,276,430.00 in the same period of 2023[17] - Cash received from the sale of goods and services in the first nine months of 2024 was CNY 502,423,064.35, down 37.1% from CNY 799,418,992.73 in the previous year[17] - The company reported a significant drop in cash flow, impacting its liquidity position and operational flexibility[10] - Cash and cash equivalents decreased to RMB 326,065,909.24 from RMB 510,270,041.96, representing a decline of about 36%[11] - Cash and cash equivalents at the end of the period were 322,025,657.62, down from 509,655,725.47 at the end of the previous year[18] - The net increase in cash and cash equivalents was -171,795,984.76, contrasting with an increase of 115,438,676.37 in the prior year[18] Assets and Liabilities - Total assets as of the end of the reporting period were ¥2,256,288,949.67, down 5.69% from the previous year[3] - Current assets as of September 30, 2024, totaled RMB 1,229,622,910.37, down from RMB 1,322,386,268.27 at the end of 2023, reflecting a decrease of approximately 7%[11] - Total liabilities decreased to RMB 439,600,285.62 from RMB 539,933,027.85, a decline of approximately 18.6%[12] - Total assets as of September 30, 2024, were RMB 2,127,815,439.48, down from RMB 2,256,288,949.67, reflecting a decrease of about 5.7%[12] - Non-current liabilities totaled RMB 43,653,612.26, down from RMB 49,295,582.44, a decrease of approximately 11.7%[12] Shareholder Information - Shareholders' equity attributable to shareholders was ¥1,446,936,062.66, a decrease of 1.64% from the previous year[3] - The total number of ordinary shareholders at the end of the reporting period was 18,852, with the largest shareholder holding 69.92% of the shares[8] Operational Insights - The company experienced a significant decline in revenue due to decreased production and sales from major customers[6] - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance revenue growth in the upcoming quarters[10] Non-Recurring Items and Expenses - Non-recurring gains and losses for the current period totaled ¥1,725,896.17, with government subsidies contributing ¥1,657,458.19[5] - The company reported a total investment income of CNY 981,168.80 for Q3 2024, a decrease of 94.1% from CNY 16,522,438.59 in Q3 2023[14] - The research and development expenses for Q3 2024 were CNY 20,399,577.40, down 17.5% from CNY 24,684,837.55 in Q3 2023[14] Future Considerations - The company is set to implement new accounting standards starting in 2024, which may affect financial reporting[18]