PACIFIC QUARTZ(SH:603688)2024-10-25 09:06Financial Performance - The company's operating revenue for Q3 2024 was ¥260,146,487.89, a decrease of 89.45% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥56,041,719.12, down 96.84% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥36,250,864.20, a decline of 97.98% compared to the previous year[2]. - The basic earnings per share for Q3 2024 was ¥0.11, a decrease of 97.76% year-on-year[4]. - The diluted earnings per share for Q3 2024 was also ¥0.11, reflecting a 97.76% decline compared to the same period last year[4]. - The weighted average return on equity for Q3 2024 was 0.87%, a decrease of 23.10 percentage points year-on-year[4]. - The net profit for Q3 2024 was CNY 312,489,701.81, a significant decrease compared to CNY 4,215,801,054.54 in Q3 2023, reflecting a decline of approximately 92.59%[19]. - Operating profit for Q3 2024 was CNY 358,957,812.89, down from CNY 4,961,219,664.18 in the same period last year, indicating a decrease of about 92.76%[19]. - Total comprehensive income for Q3 2024 was CNY 367,543,172.99, compared to CNY 4,215,801,054.54 in Q3 2023, reflecting a decrease of approximately 91.29%[20]. - The basic earnings per share for Q3 2024 was CNY 0.58, significantly lower than CNY 11.65 in Q3 2023, indicating a decline of about 95.02%[20]. - The company reported a total profit of CNY 329,884,877.37 for Q3 2024, down from CNY 4,888,037,395.42 in Q3 2023, reflecting a decline of about 93.3%[28]. Revenue and Costs - Total operating revenue for the first three quarters of 2024 was CNY 996,966,605.51, a significant decrease from CNY 5,899,814,888.04 in the same period of 2023, representing a decline of approximately 83.1%[17]. - Total operating costs for the first three quarters of 2024 were CNY 675,223,923.06, down from CNY 937,214,851.18 in 2023, indicating a reduction of about 28%[17]. - The company reported a total revenue from sales of CNY 1,693,021,001.62 in the first three quarters of 2024, compared to CNY 4,619,556,784.78 in the same period of 2023, a decrease of approximately 63.32%[20]. - The cost of goods sold for the first three quarters of 2024 was CNY 604,132,557.82, down from CNY 727,225,175.09 in 2023, reflecting a reduction of 17.0%[26]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥6,470,479,916.39, down 22.90% from the end of the previous year[4]. - The equity attributable to shareholders at the end of Q3 2024 was ¥5,742,241,086.58, a decrease of 23.73% compared to the end of the previous year[4]. - Total assets decreased to CNY 6,470,479,916.39 from CNY 8,392,855,944.75, a decline of about 22.9%[16]. - Total liabilities decreased to CNY 691,973,869.02 from CNY 827,464,034.26, representing a reduction of approximately 16.4%[16]. - Shareholders' equity decreased to CNY 5,778,506,047.37 from CNY 7,565,391,910.49, indicating a decline of about 23.6%[16]. - The total current assets decreased to CNY 4,432,043,471.39 from CNY 6,463,195,916.66, a decline of 31.5%[24]. - The total liabilities decreased to CNY 617,097,893.52 from CNY 751,485,327.99, a reduction of 17.8%[25]. - The company's total assets decreased to CNY 6,154,916,269.92 from CNY 8,094,128,602.03, a decline of 23.9%[25]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥737,342,729.22, down 71.94% year-on-year[4]. - Cash flow from operating activities in Q3 2024 was CNY 737,342,729.22, down from CNY 2,627,608,604.71 in Q3 2023, a decline of about 72.04%[21]. - The net cash flow from financing activities was negative CNY 1,905,437,503.99, indicating a cash outflow primarily due to dividend payments totaling CNY 1,805,817,258.20[22]. - The company reported a net cash decrease of CNY 1,619,480,651.08 for the period, compared to an increase of CNY 1,254,365,775.60 in the previous year[22]. - The cash and cash equivalents at the end of Q3 2024 were CNY 962,637,530.97, compared to CNY 1,668,164,533.50 at the end of Q3 2023, a decrease of approximately 42.3%[31]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 55,555, with the top ten shareholders holding significant stakes[9]. - Chen Shibin is the largest shareholder, holding 143,884,023 shares, representing 26.56% of the total[10]. - The number of shares held by the top ten shareholders includes 122,985,000 shares held by Fortune Development Limited, accounting for 22.70%[10]. - The company reported a total of 4,768,616 shares held by the Agricultural Bank of China, representing 0.88%[10]. - The report indicates that the top ten shareholders have not engaged in margin trading or securities lending during the reporting period[11]. Strategic Initiatives - The company attributed the significant declines in revenue and profit primarily to a decrease in income from photovoltaic products during the reporting period[7]. - The company has experienced a significant decline in operating performance due to market fluctuations in the photovoltaic industry and reduced demand for quartz materials[12]. - The company plans to strengthen cost management and enhance product cost-performance advantages to increase market share[12]. - The semiconductor materials development strategy remains a priority, with ongoing investments in R&D and technology[12]. - The company has expanded the types and quantities of quartz materials certified by major semiconductor equipment manufacturers[12]. - The company is adopting a cautious sales strategy to mitigate bad debt risks amid market changes[12]. - The company is exploring new product development and market expansion strategies to enhance future growth prospects[17]. Research and Development - Research and development expenses for Q3 2024 totaled CNY 90,646,438.52, compared to CNY 108,477,300.70 in Q3 2023, representing a reduction of approximately 16.43%[19]. - Research and development expenses amounted to CNY 79,733,753.79, down from CNY 94,556,451.21 in the previous year, indicating a reduction of about 15.6%[28].