ENC(SH:603869)2024-10-29 09:55Revenue and Profitability - Revenue for Q3 2024 decreased by 44.32% year-on-year, totaling ¥416,049,632.81, while year-to-date revenue decreased by 39.16% compared to the same period last year[2]. - Net profit attributable to shareholders for the year-to-date period increased by 61.27%, amounting to ¥19,712,787.00[2]. - Basic and diluted earnings per share for Q3 2024 were both ¥0.00, compared to ¥0.04 in the same period last year, reflecting a 100% decrease[3]. - The net profit for the third quarter of 2024 was CNY 19,712,787.00, an increase from CNY 12,223,381.63 in the same period of 2023, representing a growth of approximately 61.0%[21]. - The company reported a total profit of CNY 7,681,101.64 for the third quarter of 2024, compared to CNY 3,959,777.87 in the same quarter of 2023, marking an increase of approximately 94.5%[21]. Cash Flow and Financial Position - The net cash flow from operating activities for Q3 2024 decreased by 42.92%, while year-to-date it increased by 16.81%, totaling ¥157,847,996.73[2][7]. - Cash inflow from operating activities for the first nine months of 2024 was CNY 707,410,018.27, down from CNY 932,722,622.46 in the same period of 2023, reflecting a decrease of about 24.1%[22]. - The total cash outflow from investing activities was CNY 1,618,760,791.09, leading to a net cash flow from investing activities of -CNY 538,845,198.91 for the first nine months of 2024[23]. - Cash inflow from financing activities amounted to CNY 796,721,579.75, while cash outflow was CNY 418,823,996.64, resulting in a net cash flow from financing activities of CNY 377,897,583.11[23]. - The company's cash and cash equivalents amounted to approximately 818.07 million RMB, a decrease from 1,048.16 million RMB in the previous period[13]. - The cash and cash equivalents at the end of the period were CNY 846,113,627.66, a decrease from CNY 1,627,118,484.75 at the end of the previous year[23]. Assets and Liabilities - Total assets at the end of Q3 2024 were ¥5,249,074,619.13, representing a 4.26% increase from the end of the previous year[3]. - Total liabilities increased to CNY 1,482,881,448.09 from CNY 1,151,693,287.34, representing a growth of approximately 28.8%[18]. - The total equity attributable to shareholders decreased to CNY 3,743,462,420.50 from CNY 3,852,479,083.01, indicating a decline of about 2.8%[18]. - Accounts receivable decreased to approximately 730.76 million RMB from 964.64 million RMB in the previous period, indicating a reduction of about 24.2%[13]. - Inventory levels decreased significantly to CNY 116,855,741.27 from CNY 248,963,134.01, a reduction of about 53.1%[15]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 18,488[8]. - The largest shareholder, Xin'ao Energy Supply Chain Co., Ltd., holds 212,841,072 shares, accounting for 42.19% of the total shares[8]. - The company repurchased 28,490,550 shares, representing 5.65% of the total issued shares[9]. - The top ten shareholders include several entities controlled by the same individual, indicating potential related party transactions[9]. Operational Changes and Challenges - The company optimized its business structure, leading to an increase in gross profit margin year-on-year[6][7]. - The company adjusted its integrated business focus, which contributed to the decline in revenue[6]. - The company plans to enhance project admission standards to improve business performance in key industries[6]. - The company has acknowledged internal control deficiencies and is actively working to rectify these issues, with monthly updates on progress[12]. - The company plans to correct prior accounting errors, which may require a comprehensive audit of the financial statements[12]. - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[12]. Research and Development - Research and development expenses for the first three quarters of 2024 amounted to CNY 50,123,034.53, a decrease from CNY 79,049,305.33 in the previous year, reflecting a decline of approximately 36.6%[19].