QSZY(SH:600103)2024-10-28 09:17Financial Performance - The company's operating revenue for Q3 2024 was ¥578,186,948.52, representing a year-on-year increase of 3.08%[2] - The net profit attributable to shareholders for Q3 2024 was ¥31,613,645.46, a significant increase of 136.69% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥21,513,837.82, showing an impressive growth of 862.58% year-on-year[2] - Basic earnings per share for Q3 2024 were ¥0.0143, up by 134.43% compared to the previous year[3] - The diluted earnings per share for Q3 2024 were also ¥0.0143, reflecting a similar increase of 134.43%[3] - Total revenue for the first three quarters of 2024 reached ¥2,006,389,054.16, an increase of 5.2% compared to ¥1,906,945,618.98 in the same period of 2023[16] - The net profit for Q3 2024 was CNY 97,099,119.91, a decrease of 5.3% compared to CNY 102,536,253.25 in Q3 2023[17] - The total profit for Q3 2024 was CNY 115,079,903.40, down from CNY 123,015,291.29 in the same period last year, representing a decline of 6.9%[17] - The basic earnings per share for Q3 2024 was CNY 0.0389, compared to CNY 0.0411 in Q3 2023, reflecting a decrease of 5.3%[18] - The net profit for the first three quarters of 2024 was CNY 68,847,834.89, up from CNY 56,535,257.70 in the previous year, reflecting a growth of 21.7%[24] Assets and Liabilities - Total assets at the end of Q3 2024 were ¥6,026,812,396.27, a decrease of 2.27% from the end of the previous year[3] - The total assets decreased to ¥6,026,812,396.27 from ¥6,167,016,439.05, a reduction of about 2.3%[15] - The total assets of the company decreased to CNY 4,987,323,637.73 in Q3 2024 from CNY 5,195,033,766.65 in Q3 2023, a decline of 4.0%[23] - The total liabilities decreased to ¥1,746,222,410.88 from ¥1,947,206,374.21, a decline of 10.3%[14] - The total liabilities decreased to CNY 1,504,000,806.48 in Q3 2024 from CNY 1,747,250,050.95 in Q3 2023, a reduction of 13.9%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period was 105,620[8] - The largest shareholder, Fujian Energy Group, holds 220,338,982 shares, accounting for 9.78% of total shares[8] - The company completed the cancellation of 52,562,760 repurchased shares, reducing total share capital from 2,305,817,807 shares to 2,253,255,047 shares[11] - The top three shareholders have a relationship, with Fujian Salt Industry Group being a subsidiary of Fujian Light Textile (Holdings) Co., Ltd.[9] Cash Flow - Cash flow from operating activities for the year-to-date period increased by 53.05% to ¥164,050,336.22[2] - Cash flow from operating activities for the first three quarters of 2024 was CNY 164,050,336.22, an increase of 53.1% from CNY 107,187,509.58 in the same period of 2023[19] - Cash inflow from operating activities totaled CNY 1,819,529,423.06, up from CNY 1,776,890,739.29 year-on-year[19] - Cash outflow from investing activities was CNY 1,132,471,867.75, compared to CNY 2,567,974,791.70 in the previous year, indicating a reduction of 55.8%[20] - The net cash flow from investing activities was -CNY 383,921,895.67, an improvement from -CNY 619,546,612.11 in the same period last year[20] - The ending balance of cash and cash equivalents decreased to RMB 265,622,798.39 from RMB 443,106,937.55, a decline of 40.1%[28] Operational Highlights - The increase in net profit was primarily driven by a rise in sales volume and an increase in product gross margin[6] - The company's cash and cash equivalents decreased to ¥424,571,124.22 from ¥972,602,237.18, a decline of approximately 56.3%[12] - Accounts receivable increased significantly to ¥272,654,983.22, compared to ¥131,248,530.40, marking a growth of 107.1%[12] - Inventory rose to ¥561,937,078.55 from ¥530,728,038.48, indicating an increase of 5.9%[13] - Research and development expenses for the first three quarters of 2024 were ¥34,136,882.41, down from ¥42,822,272.02 in 2023, a decrease of 20.4%[16] - Research and development expenses increased to CNY 14,877,654.00 in 2024 from CNY 8,999,571.52 in 2023, marking a rise of 65.5%[24] Legal Matters - The company is involved in a lawsuit regarding a technology development contract dispute, with a total amount in dispute of RMB 50.9491 million[10] - The company has successfully executed a first-instance judgment in its favor regarding the aforementioned lawsuit and has applied for enforcement[10] - The company received a notice regarding a patent invalidation request, which will be heard by the National Intellectual Property Administration by the end of October 2024[10] Joint Ventures - A joint venture, Zhongzhu (Fujian) Forestry Development Co., Ltd., was established with a registered capital of RMB 10 million, with the company holding 51%[11] - A new joint venture, Fujian Qingshan Forestry Development Co., Ltd., was established with a registered capital of RMB 180 million, with the company contributing RMB 90 million for a 50% stake[11]