DOWELL(SZ:300535)2024-10-27 07:42Revenue and Profit - Revenue for Q3 2024 was ¥181,734,941.63, a decrease of 13.10% compared to the same period last year[4] - Net profit attributable to shareholders was -¥813.80, representing a 100.00% decline year-on-year[4] - Net profit after deducting non-recurring gains and losses was -¥315,764.34, a decrease of 101.98% compared to the previous year[4] - Total operating revenue for Q3 2024 reached ¥539,573,189.30, an increase of 4.1% compared to ¥517,509,148.81 in Q3 2023[19] - Net profit for Q3 2024 was ¥20,581,609.77, a decrease of 13.0% from ¥23,891,723.75 in the same period last year[20] - Total comprehensive income for Q3 2024 was ¥17,528,719.23, down from ¥25,754,080.50, indicating a decrease of 31.9%[20] Assets and Liabilities - Total assets increased to ¥1,503,221,126.70, reflecting a growth of 6.15% from the end of the previous year[4] - Total current assets as of September 30, 2024, increased to RMB 674.77 million from RMB 616.66 million at the beginning of the period, reflecting a growth of approximately 9.4%[15] - The company's total liabilities increased to RMB 505.97 million from RMB 431.43 million, representing a rise of approximately 17.3%[17] - The total assets of the company reached RMB 1.50 billion, up from RMB 1.42 billion, indicating a growth of about 6.1%[17] - The company's cash and cash equivalents increased to RMB 76.51 million from RMB 68.66 million, marking an increase of approximately 11.8%[15] Cash Flow - Cash flow from operating activities for the year-to-date decreased by 39.70% to ¥22,216,676.54[4] - Cash inflow from operating activities totaled ¥424,735,857.18, compared to ¥406,042,813.15 in Q3 2023, marking an increase of 4.6%[21] - The net cash flow from financing activities was 69,446,326.66, an increase from 31,465,526.33 in the previous year[23] - The net increase in cash and cash equivalents was 7,842,649.33, contrasting with a decrease of -34,498,448.79 in the same period last year[23] Expenses and Financial Performance - Total operating costs amounted to ¥492,458,662.33, up from ¥476,684,585.75, reflecting a year-over-year increase of 3.6%[19] - Research and development expenses increased to ¥36,581,792.96, up 17.5% from ¥31,198,138.33 in Q3 2023[19] - The company’s financial expenses included interest expenses of ¥8,247,684.07, which increased from ¥5,863,374.96 in the previous year[19] - Interest expenses rose by 40.66% to ¥8,247,684.07, primarily due to increased short-term bank loans[7] Investments and Dividends - The company completed the repurchase and cancellation of 41,450 restricted shares on July 2, 2024, as part of its equity incentive plan[11] - The company distributed a cash dividend of CNY 0.70 per share to all shareholders based on a total share capital of 104,801,463 shares, completed on July 11, 2024[11] - The company plans to increase its investment in Sichuan Yuehua New Energy Technology Co., Ltd. by CNY 2,000,000, acquiring a 9.76% stake at a price of CNY 2.70 per share[11] Impairments and Losses - The company reported an asset impairment loss of CNY 26,854,742.54, a significant increase of 761.46% compared to the previous period, primarily due to increased inventory and fixed asset impairment provisions[8] - The company experienced a substantial decrease in cash received from tax refunds, totaling CNY 52,344.26, down 95.65% year-on-year, mainly due to reduced export tax rebates[8] - The company’s income tax expense was reported at CNY -585,848.99, a decrease of 106.97% compared to the previous year, mainly due to the impairment of long-term equity investments affecting deferred tax assets[8] Government Support and Financial Assistance - The company received government subsidies amounting to ¥2,317,679.09 year-to-date, contributing to a 39.53% increase in other income[5][7] - As of the report date, the total financial assistance provided to the subsidiary Weiyuan Wood Industry amounts to RMB 118.9 million, which is due for repayment by August 24, 2024[12] - The company approved a financial assistance plan to lend RMB 12 million to Weiyuan Wood Industry to support its operational needs[12] Other Notable Events - The company decided to terminate the external investment project due to the inability to identify a suitable counterparty for the equity sale, resulting in significant uncertainty regarding projected returns[12] - The company has completed the registration of its wholly-owned subsidiary in Cambodia, with an investment of USD 5 million aimed at establishing a production base[14] - The company recorded a 77.21% increase in non-operating income, amounting to CNY 1,450,460.11, primarily from increased income from the disposal of waste materials[8] - The company did not apply the new accounting standards for the current financial year[23] - The third quarter report was not audited[24]