CYG(SH:600525)2024-10-28 10:15Financial Performance - The company's operating revenue for Q3 2024 was ¥2,010,658,438.08, representing a year-on-year increase of 0.86%[2] - The net profit attributable to shareholders for Q3 2024 was -¥12,268,159.87, a decrease of 163.63% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥14,373,155.11, reflecting a decline of 199.95% year-on-year[2] - The basic earnings per share for Q3 2024 was -¥0.0093, down 163.27% from the previous year[4] - The company's operating revenue for the year-to-date period decreased by 6.00%, down by 352 million RMB compared to the same period last year, primarily due to a decline in revenue from smart grid equipment and energy internet technology services[8] - The net profit attributable to shareholders for the current reporting period decreased by 163.63%, mainly due to increased investments in market expansion and new product development[8] - The net profit attributable to shareholders for the year-to-date period decreased by 158.42%, attributed to a decline in revenue from smart grid equipment and energy internet technology services, as well as reduced investment income[8] - The net profit excluding non-recurring gains and losses for the current reporting period decreased by 199.95% compared to the same period last year[8] - The basic and diluted earnings per share for the current reporting period were both down by 163.27% due to the decline in net profit attributable to shareholders[8] - The net profit for the first three quarters of 2024 was a loss of CNY 83,127,485.67, compared to a profit of CNY 85,985,035.58 in the same period of 2023[18] - The net profit attributable to the parent company for the first three quarters of 2024 was -¥59,253,788.60, compared to a profit of ¥101,424,061.94 in the same period of 2023, representing a significant decline[19] - The total comprehensive income for the first three quarters of 2024 was -¥116,788,720.52, compared to ¥127,933,436.52 in the same period of 2023[19] Assets and Liabilities - The total assets at the end of Q3 2024 amounted to ¥17,327,258,305.57, an increase of 11.69% compared to the end of the previous year[4] - The net assets attributable to shareholders decreased by 3.29% to ¥5,070,374,610.67 compared to the end of the previous year[4] - The company's total assets increased to CNY 17,327,258,305.57 as of September 30, 2024, up from CNY 15,513,457,935.80 at the end of 2023[17] - The company's total liabilities reached CNY 11,734,264,838.31, compared to CNY 9,713,867,259.46 at the end of 2023[17] - Non-current liabilities totaled CNY 835,501,649.85, an increase from CNY 778,649,803.98 at the end of 2023[17] - The total liabilities increased to ¥5,640,489,364.00 as of September 30, 2024, compared to ¥5,038,507,360.50 at the end of 2023[24] Cash Flow - The company reported a net cash flow from operating activities of -¥37,304,441.12 for the year-to-date period[2] - The operating cash flow for the first three quarters of 2024 was -¥37,304,441.12, an improvement from -¥313,988,429.27 in the same period of 2023[21] - Cash inflows from operating activities totaled ¥5,342,657,638.34, down from ¥6,053,686,302.79 in the first three quarters of 2023[21] - The company reported cash outflows from operating activities of ¥5,379,962,079.46, compared to ¥6,367,674,732.06 in the same period of 2023[21] - The net cash flow from investing activities was -¥143,944,700.14 for the first three quarters of 2024, an improvement from -¥176,191,106.00 in the same period of 2023[22] - The net cash flow from financing activities was ¥141,823,766.94, compared to ¥969,990,752.60 in the same period of 2023[22] - The company's cash and cash equivalents at the end of September 2024 were ¥897,587,412.85, down from ¥1,051,799,847.62 at the end of September 2023[22] - The company's cash and cash equivalents decreased significantly, with short-term borrowings at ¥420,356,666.67, down from ¥628,343,055.57[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,262[9] - The largest shareholder, Zhuhai Gree Financial Investment Management Co., Ltd., holds 171,238,247 shares, accounting for 13.02% of the total shares[10] - The company completed a share repurchase plan, acquiring 23,630,081 shares, which is 1.80% of the total share capital, with a total expenditure of 99.95 million RMB[13] Investments and Development - The company continues to focus on market expansion and accelerating new product development, which has led to increased expenditures in these areas[8] - Research and development expenses for the first three quarters of 2024 were CNY 638,055,762.51, compared to CNY 610,416,479.86 in 2023[18] - The company’s other income for the first three quarters of 2024 was ¥263,141.54, a decrease from ¥426,117.82 in the same period of 2023[25] - The company transferred 9% equity of Zhuhai Gejin New Energy Technology Co., Ltd. to an associated party for RMB 1, corresponding to an unpaid registered capital of RMB 90 million[14] - The company increased the registered capital of Chengdu Qicheng Power Co., Ltd. from RMB 20 million to RMB 50 million, with an additional investment of RMB 30 million[14] - The company established a joint venture with a registered capital of RMB 50 million for distributed photovoltaic projects, with a 51% ownership stake[14] Legal and Compliance - The company is in the process of appointing a new independent director following the resignation of Mr. Lai Zeqiao, who served for six years[14] - The company is facing potential litigation related to previous securities false statements, with claims amounting to approximately RMB 628 million[14] Inventory and Receivables - The company’s inventory increased to RMB 2.80 billion from RMB 2.72 billion, indicating a rise of approximately 3%[15] - The company’s accounts receivable rose to RMB 3.57 billion from RMB 3.45 billion, an increase of about 3.6%[15] - The company's inventory decreased to ¥53,550.00 from ¥97,020.00, indicating a reduction in stock levels[24] Other Financial Metrics - The weighted average return on equity for Q3 2024 was -0.24%, a decrease of 0.61 percentage points year-on-year[4] - The company's financial expenses decreased to ¥19,896,416.01 in the first three quarters of 2024, compared to ¥39,881,981.91 in the same period of 2023[25] - The company incurred a total of CNY 18,280,739,607.76 in cash outflows related to operating activities, up from CNY 11,775,701,293.35 in the previous year, marking an increase of approximately 55.5%[29] - The company’s goodwill remained stable at CNY 1,063,978,530.52, unchanged from the end of 2023[16]