HECHI CHEMICAL(000953)2024-10-25 08:16Financial Performance - The company's operating revenue for Q3 2024 was ¥38,356,605.32, a decrease of 3.67% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 reached ¥76,651,939.32, an increase of 1,932.20% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,426,520.20, a decrease of 63.20% compared to the same period last year[2] - Total operating revenue for Q3 2024 reached CNY 166,695,111.85, an increase of 10.5% compared to CNY 151,314,144.99 in the same period last year[14] - Net profit for Q3 2024 was CNY 10,053,164.02, a significant recovery from a net loss of CNY 3,767,096.41 in Q3 2023[14] - Total comprehensive income attributable to the parent company was CNY 79,288,717.79, a decrease of 3,826,934.56 compared to the previous period[15] - Basic and diluted earnings per share were both CNY 0.2166, down by CNY 0.0105 from the previous period[15] Assets and Liabilities - The total assets at the end of Q3 2024 amounted to ¥361,488,771.95, reflecting an increase of 28.54% from the end of the previous year[2] - Total assets increased to CNY 361,488,771.95, up from CNY 281,233,757.18, marking a growth of 28.5%[12] - Total liabilities reached CNY 200,108,759.26, slightly up from CNY 198,330,681.10, indicating a marginal increase of 0.9%[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,992, with the top ten shareholders holding significant stakes[7] - Ningbo Yinyi Holdings Co., Ltd. holds 23.76% of shares, amounting to 87,000,000 shares, while Guangxi Hechi Chemical Industry Group Co., Ltd. holds 10.24%, totaling 37,493,589 shares[7] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was -¥9,295,124.16, a decrease of 223.99% compared to the same period last year[2] - Cash inflow from operating activities totaled CNY 169,650,232.85, an increase from CNY 149,888,905.17 in the previous period[16] - Net cash flow from operating activities was negative CNY 9,295,124.16, compared to a positive CNY 7,496,601.55 in the previous period[16] - Cash inflow from investment activities amounted to CNY 96,103,952.42, significantly up from CNY 2,200.00 in the previous period[17] - Net cash flow from investment activities was CNY 81,503,339.11, a recovery from a negative CNY 5,964,157.95 in the previous period[17] - Cash outflow from financing activities totaled CNY 20,776,756.34, compared to CNY 95,752.78 in the previous period[17] Operational Developments - The company plans to transfer a urea production capacity indicator of 350,000 tons/year for a total of RMB 94.5 million to Yili Xintian Coal Chemical Co., Ltd.[8] - The company has completed the transaction for the urea production capacity indicator, with the payment received from Yili Xintian Coal Chemical Co., Ltd.[8] - The company plans to continue investing in new product development and technology to enhance market competitiveness[14] - Future guidance indicates a focus on expanding market share and exploring potential mergers and acquisitions to drive growth[14] - The company did not conduct any mergers or acquisitions during the reporting period[15] Cash and Equivalents - The company’s cash and cash equivalents increased by 80.18% to ¥116,447,032.51 at the end of Q3 2024[5] - The company’s cash and cash equivalents increased to RMB 116,447,032.51 at the end of the reporting period, compared to RMB 64,629,673.12 at the beginning[11] - Cash and cash equivalents at the end of the period reached CNY 116,447,032.51, up from CNY 57,694,229.06 at the end of the previous period[17] Share Repurchase - As of October 7, 2024, the company has repurchased a total of 878,100 shares, representing 0.24% of the total share capital, with a total transaction amount of RMB 2,239,646[9] - The highest purchase price during the share repurchase was RMB 2.64 per share, while the lowest was RMB 2.47 per share[9] Other Financial Metrics - The company’s basic earnings per share for Q3 2024 was ¥0.2094, an increase of 1,936.84% compared to the same period last year[2] - The weighted average return on net assets was 66.27%, a decrease of 71.75% compared to the previous year[2] - Accounts receivable increased to CNY 25,706,635.12, up from CNY 12,329,830.35, indicating a growth of 108.5% year-over-year[12] - Inventory levels rose to CNY 30,440,597.61, compared to CNY 20,363,482.19, reflecting a 49.6% increase year-over-year[12] - The company reported a significant increase in prepayments, which rose to CNY 14,969,159.82 from CNY 7,086,060.38, a growth of 111.5%[12] - The company reported a decrease in tax refunds received, totaling CNY 1,876,399.06, down from CNY 2,319,153.55 in the previous period[16] Restructuring and Liquidity Issues - The company’s controlling shareholder, Yinyi Holdings, has been facing liquidity issues since 2019 and is undergoing a restructuring process[10] - The restructuring plan for Yinyi Holdings has been approved by the Ningbo Intermediate People's Court, terminating the restructuring process for 17 companies[10]