ST八菱(002592) - 2024 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2024 was ¥156,495,013.15, representing a 12.79% increase year-over-year, while the year-to-date revenue reached ¥430,115,163.49, up 29.12% compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2024 was ¥20,245,079.72, a significant decrease of 82.68% year-over-year, with a year-to-date net profit of ¥51,133,660.01, down 61.39% compared to the previous year[2]. - The basic earnings per share for Q3 2024 was ¥0.07, reflecting an 83.72% decline year-over-year, while the diluted earnings per share also stood at ¥0.07, down 83.72%[2]. - The company's operating revenue for the first nine months of 2024 reached ¥430,115,163.49, an increase of 29.12% compared to ¥333,118,177.84 in the same period of 2023, driven by increased orders from customers due to higher automobile production and sales, as well as the introduction of new products[6]. - Operating costs rose to ¥343,075,280.06, reflecting a 34.52% increase from ¥255,041,641.91, primarily due to the corresponding rise in operating revenue[6]. - The net profit attributable to shareholders decreased by 61.39% to ¥51,133,660.01 from ¥132,433,947.90, mainly due to a decline in investment income[6]. - The company reported a total comprehensive income of CNY 51,122,921.43, compared to CNY 131,748,487.23 in the prior period, a decrease of 61.2%[20]. Cash Flow and Assets - The company's cash flow from operating activities for the year-to-date period was ¥87,547,484.99, showing a 52.33% increase compared to the same period last year[2]. - The company reported a significant decrease in cash and cash equivalents, down 53.79% to ¥69,643,829.85, primarily due to a reduction in time deposits[5]. - The company's current cash and cash equivalents decreased to approximately 69.64 million yuan from 150.72 million yuan, representing a decline of about 53.8%[16]. - The company's cash and cash equivalents increased by 146.99% to ¥6,047,818.42, compared to a decrease of -¥12,869,789.13 in the same period last year, driven by improved cash flows from operating and financing activities[6]. - The ending balance of cash and cash equivalents increased to CNY 11,433,708.64, compared to CNY 4,725,434.21 in the previous period[22]. - The total assets as of September 30, 2024, amounted to ¥1,134,728,610.10, which is a 1.45% increase from the end of the previous year[2]. - The company's total liabilities decreased to CNY 232,178,145.09 from CNY 305,031,727.56, a reduction of 23.9%[20]. Inventory and Receivables - Inventory increased by 32.55% to ¥153,304,063.40, attributed to an increase in stockpiled goods[5]. - Accounts receivable decreased from approximately 84.09 million yuan to 61.51 million yuan, a reduction of about 26.8%[16]. Equity and Investments - The company's total equity attributable to shareholders increased by 10.95% to ¥902,550,485.85 compared to the end of the previous year[2]. - The company's long-term equity investments increased from approximately 139.50 million yuan to 174.90 million yuan, an increase of about 25.4%[17]. - The company invested a total of 38 million yuan in Dayao Mawang, holding a 22% equity stake, and is currently pursuing legal action for the recovery of this investment[10]. Expenses and Financial Metrics - The weighted average return on equity for Q3 2024 was 2.28%, down 11.55% year-over-year[2]. - Financial expenses rose significantly by 209.49% to -¥6,829,343.46 from -¥2,206,669.71, primarily due to increased interest on time deposits[6]. - The company experienced a 1057.31% increase in credit impairment losses, amounting to ¥8,630,598.87, compared to a reversal of -¥901,545.09 in the previous year[6]. - The income tax expense surged by 652.30% to ¥11,053,931.83 from ¥1,469,358.02, mainly due to a reduction in deductible amounts from the employee stock ownership plan[6]. - Research and development expenses increased to CNY 17,404,589.18, compared to CNY 14,251,502.03 in the previous period, reflecting a growth of 22.8%[20]. Operational Developments - The company is in the process of establishing a new subsidiary in Wuhu, Anhui, to enhance its supply chain for automotive parts[15]. - The company is currently undergoing a tax audit for the period from January 1, 2020, to December 31, 2022, with no final results reported yet[14]. - The company is facing uncertainty regarding the resumption of the dinosaur project due to ongoing legal disputes and construction delays[11].