Kings(SH:603505)2024-10-28 08:19Financial Performance - The company's operating revenue for Q3 2024 was approximately ¥711.22 million, representing a year-on-year increase of 19.39% and a cumulative increase of 58.50% year-to-date[2]. - The net profit attributable to shareholders for Q3 2024 was approximately ¥82.76 million, a decrease of 30.88% compared to the same period last year, while the year-to-date net profit increased by 1.70% to ¥250.36 million[2]. - The basic earnings per share for Q3 2024 was ¥0.14, reflecting a decrease of 30.00% compared to the same period last year[2]. - Total revenue for the first three quarters of 2024 reached CNY 1,829,996,982.63, a significant increase of 58.5% compared to CNY 1,154,558,155.82 in the same period of 2023[21]. - Net profit for the first three quarters of 2024 was CNY 266,109,856.22, slightly down from CNY 270,751,073.19 in 2023, representing a decrease of 1.2%[22]. - The total comprehensive income for Q3 2024 was approximately ¥266.12 million, compared to ¥270.75 million in Q3 2023, indicating a decrease of 1.17%[23]. Assets and Liabilities - Total assets at the end of Q3 2024 reached approximately ¥6.53 billion, marking a 30.28% increase from the end of the previous year[3]. - Non-current assets totaled CNY 3,919,219,706.64, an increase from CNY 3,397,157,488.53 in the previous year, reflecting a growth of 15.3%[20]. - Current liabilities increased to CNY 3,177,077,289.27 from CNY 1,796,912,749.55, showing a rise of 76.5%[20]. - The company’s total current assets increased to approximately RMB 2.61 billion from RMB 1.62 billion, reflecting overall growth in asset base[19]. Cash Flow - The net cash flow from operating activities for the year-to-date period was approximately ¥370.38 million, an increase of 81.75% year-on-year[2]. - Cash flow from operating activities for the first three quarters of 2024 was approximately ¥1.61 billion, significantly higher than ¥1.03 billion in the same period of 2023, marking an increase of 56.5%[24]. - Cash flow from investing activities for the first three quarters of 2024 showed a net outflow of approximately ¥746.85 million, an improvement from a net outflow of ¥1.08 billion in the same period of 2023[25]. - Cash flow from financing activities for the first three quarters of 2024 was a net inflow of approximately ¥552.99 million, down from ¥948.36 million in the same period of 2023, a decrease of 41.7%[25]. Production and Sales - As of September 30, 2024, the company produced approximately 280,000 tons of fluorite products and sold about 250,000 tons, showing a decline compared to the same period last year due to the suspension of operations at Changshan Jingshi and minor upgrades at some owned mines[18]. - The company expects to produce 120,000 tons of fluorite and 50,000 tons of anhydrous hydrofluoric acid in Q4 2024, with a significant increase in the price of acid-grade fluorite expected compared to Q3 2024[18]. - The increase in operating revenue was largely driven by the production launch of the "Xuanhua Integration" project and increased sales of anhydrous hydrofluoric acid and fluorite powder[6]. Investments and Strategic Initiatives - The company’s long-term equity investments rose to approximately RMB 328.53 million from RMB 189.30 million, suggesting a strategic focus on long-term growth[19]. - The company is currently constructing a pre-treatment plant in Mongolia, which has begun commissioning, indicating ongoing expansion efforts[18]. - The company plans to continue expanding its market presence and enhancing production efficiency through technology upgrades and strategic projects[8]. Employee Compensation and Expenses - The company paid approximately ¥199.42 million in employee compensation during the first three quarters of 2024, compared to ¥109.71 million in the same period of 2023, an increase of 81.8%[24]. - Research and development expenses for the first three quarters of 2024 were CNY 54,139,310.36, up from CNY 36,197,155.33 in 2023, indicating a growth of 49.7%[22].