DOWELL(SZ:300535)2024-10-28 10:07Financial Performance - Revenue for Q3 2024 was ¥181,734,941.63, a decrease of 13.10% compared to the same period last year[3] - Net profit attributable to shareholders was -¥813.80, representing a 100.00% decline year-over-year[3] - 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[18] - Net profit for the period was ¥20,581,609.77, a decrease of 13.0% from ¥23,891,723.75 in the same quarter last year[19] - The net profit attributable to shareholders of the parent company was ¥30,179,650.33, down from ¥33,449,371.29, representing a decline of 9.0%[19] - The company experienced a decrease in total profit to ¥19,995,760.78 from ¥32,299,614.80, a decline of 38.0% year-over-year[18] - The total comprehensive income for the period was ¥17,528,719.23, down from ¥25,754,080.50, indicating a decrease of 31.9%[19] Cash Flow - Cash flow from operating activities decreased by 39.70% year-to-date, totaling ¥22,216,676.54[3] - Cash flow from operating activities was ¥417,430,002.04, compared to ¥397,288,921.10 in the same period last year, indicating a growth of 5.1%[19] - The net cash flow from operating activities for Q3 2024 was ¥22,216,676.54, a decrease of 39.5% compared to ¥36,845,008.79 in Q3 2023[20] - Total cash inflow from operating activities amounted to ¥424,735,857.18, up from ¥406,042,813.15 in the previous year, reflecting a growth of 4.2%[20] - The net cash flow from financing activities was ¥69,446,326.66, up from ¥31,465,526.33 in the previous year, marking a growth of 120.5%[21] - Cash inflow from financing activities totaled ¥284,708,253.00, compared to ¥198,527,343.57 in Q3 2023, indicating a significant increase of 43.3%[21] Assets and Liabilities - Total assets increased by 6.15% to ¥1,503,221,126.70 compared to the end of the previous year[3] - The total liabilities of the company as of September 30, 2024, are RMB 505,970,478.78, up from RMB 431,429,692.90 at the beginning of the period[16] - The company's cash and cash equivalents increased to RMB 76,505,841.86 from RMB 68,663,192.53, reflecting a growth of approximately 12%[15] - Accounts receivable rose to RMB 241,757,300.49 from RMB 227,231,946.18, indicating an increase of about 6.5%[15] - Inventory levels increased to RMB 205,009,901.14 from RMB 193,572,543.54, representing a growth of approximately 5.9%[15] Shareholder Information - The company completed the repurchase and cancellation of 41,450 restricted shares from the 2019 equity incentive plan on July 2, 2024[10] - The company distributed a cash dividend of ¥0.70 per share to all shareholders based on a total share capital of 104,801,463 shares on July 11, 2024[10] - The total number of common shareholders at the end of the reporting period was 8,680, with the top ten shareholders holding significant stakes[8] - The largest shareholder, Yan Jianlin, holds 21.38% of the shares, amounting to 22,407,147 shares[8] Investments and Subsidiaries - The company plans to increase its investment in Sichuan Yuehua New Energy Technology Co., Ltd. by ¥20 million, acquiring a 9.76% stake at a price of ¥2.70 per share[10] - Sichuan Dawei Technology Co., Ltd. plans to provide financial support of RMB 120 million to its subsidiary Weiyuan Wood Industry for operational liquidity[12] - The company has provided a loan of RMB 10 million to its subsidiary Weiyuan Dawei Wood Industry without requiring any guarantees[13] - The company has established a wholly-owned subsidiary in Cambodia with an investment of USD 5 million to expand its international market presence[13] - The company has terminated the equity transfer plan for its subsidiary Tianfu Dawei due to current strategic and operational conditions[13] Expenses and Costs - Total operating costs amounted to ¥492,458,662.33, up from ¥476,684,585.75, reflecting a year-over-year increase of 3.6%[18] - Research and development expenses increased to ¥36,581,792.96, compared to ¥31,198,138.33, marking a rise of 17.2%[18] - Cash outflow for employee compensation increased to ¥112,114,275.53, compared to ¥91,174,913.85 in Q3 2023, representing a rise of 22.9%[20] Other Income and Expenses - Non-operating income for the period amounted to ¥314,950.54, with government subsidies contributing ¥135,319.41[4] - Other income for the period was ¥6,639,392.21, an increase from ¥4,758,338.09, reflecting a growth of 39.4%[18] - The company reported a significant increase in deferred tax assets by 225.37% to ¥15,867,995.44, linked to long-term equity investment impairments[6] - The company reported an asset impairment loss of ¥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[7] - The company experienced a 42757.43% increase in asset disposal losses, amounting to ¥460,670.18, attributed to higher losses from fixed asset disposals during the reporting period[7] - Operating income from other sources rose by 77.21% to ¥1,450,460.11, mainly due to increased revenue from the disposal of waste materials[7] - The cash flow from the disposal of fixed assets increased by 116.22% to ¥384,678.94, reflecting higher cash received from fixed asset disposals[7]