YNCE(SH:600792)2024-10-28 09:35Financial Performance - The company's operating revenue for Q3 2024 was ¥1,569,280,402.39, a decrease of 13.49% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was a loss of ¥78,202,629.26, representing a decline of 129.19% year-on-year[2]. - The basic and diluted earnings per share for Q3 2024 were both -¥0.07, a decrease of 125.93% compared to the same period last year[3]. - The weighted average return on equity was -2.28%, a decrease of 10.44 percentage points year-on-year[3]. - The net profit attributable to shareholders for the year-to-date period was a loss of ¥310,957,484.40, down 232.52% compared to the same period last year[2]. - The decline in net profit was primarily due to severe industry conditions and a decrease in operating gross margin[6]. - The company experienced a significant reduction in coal prices, impacting profitability negatively[6]. - The net profit for the first three quarters of 2024 was a loss of CNY 307,773,035.38, compared to a profit of CNY 236,747,769.73 in the same period of 2023[21]. - The total comprehensive income for Q3 2024 was -307,773,035.38 CNY, down from 236,747,769.73 CNY in the same period last year[22]. - The basic earnings per share for Q3 2024 was -0.29 CNY, compared to 0.24 CNY in Q3 2023, reflecting a negative performance[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥10,432,049,751.29, an increase of 5.84% from the end of the previous year[3]. - Total liabilities for the year-to-date period include accounts payable to employees at 52.02 million CNY, reflecting an increase in wages payable[7]. - The company's total liabilities increased, with a notable rise in debt repayment cash outflows amounting to 930,683,597.62 CNY in Q3 2024, compared to 606,987,598.35 CNY in Q3 2023[24]. - The company's total liabilities rose to CNY 6,989,019,704.08 in Q3 2024, compared to CNY 6,460,396,288.53 in Q3 2023, marking an increase of 8.16%[19]. - The company's equity attributable to shareholders was CNY 3,376,784,080.99 in Q3 2024, slightly up from CNY 3,329,892,085.10 in Q3 2023, an increase of 1.41%[19]. Cash Flow - The company reported a cash flow from operating activities of ¥49,346,890.21 year-to-date[3]. - Cash inflows from operating activities for the first three quarters of 2024 were 2,066,015,885.73 CNY, a decrease of 35.1% from 3,185,909,078.66 CNY in the same period of 2023[23]. - The net cash flow from operating activities for the first three quarters of 2024 was 49,346,890.21 CNY, a recovery from a net outflow of -633,738,923.75 CNY in the same period last year[23]. - Cash outflows from investing activities for the first three quarters of 2024 totaled 60,155,124.25 CNY, compared to 425,153,215.49 CNY in the same period of 2023[24]. - The cash and cash equivalents at the end of Q3 2024 were 249,408,563.33 CNY, compared to 430,225,704.49 CNY at the end of Q3 2023, indicating a decrease[24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 43,834[9]. - The largest shareholder, Kunming Steel Holding Co., Ltd., holds 58.19% of the shares, totaling 645,896,916 shares[9]. - The company’s controlling shareholder holds 58.19% of the total shares, ensuring stable control amid ongoing reforms with China Baowu Steel Group[16]. Investment and Financing - The company issued 120,000,000 shares at a price of RMB 3.65 per share, raising a total of RMB 438,000,000, with a net amount of RMB 430,375,398 after deducting issuance costs[13]. - The company reported cash dividends of RMB 0.69 per 10 shares, totaling RMB 76,584,728.40 distributed to shareholders[15]. - The company received ¥432,868,000.00 from investments in 2024, with total cash inflow from financing activities being significantly impacted by a reduction in borrowing[31]. Research and Development - Research and development expenses for the first three quarters of 2024 were CNY 9,807,785.06, down from CNY 11,508,485.67 in the same period of 2023, a decrease of 14.77%[21]. - Research and development expenses increased significantly to CNY 1,238,936.92 from CNY 623,820.56, marking a rise of 98.50%[28]. Financial Expenses - Financial expenses for the year-to-date period increased significantly to 77.03 million CNY due to the capitalization of borrowing costs after the end of trial production[7]. - The company reported a significant increase in financial expenses, totaling CNY 108,770,826.88 in Q3 2024, compared to CNY 61,440,552.27 in Q3 2023, an increase of 77.00%[21]. - The financial expenses rose to CNY 96,111,251.01, compared to CNY 42,258,921.25 in the previous year, indicating an increase of 127.00%[28]. Inventory and Receivables - The company’s inventory decreased to RMB 416,722,553.79 from RMB 502,535,563.01, a reduction of about 17.0%[17]. - Accounts receivable rose to RMB 3,096,078,039.75, up from RMB 2,153,701,098.09, indicating an increase of about 43.8%[17]. - The company reported a significant increase in credit impairment losses, totaling -164.43 million CNY, due to increased provisions for receivables[7].