TANAC(300461)2024-10-29 09:56Financial Performance - Revenue for Q3 2024 reached ¥84,952,183.01, an increase of 16.74% compared to the same period last year[2] - Net profit attributable to shareholders was -¥14,143,374.22, a decrease of 1,315.28% year-on-year[2] - The net profit after deducting non-recurring gains and losses was -¥15,163,414.03, reflecting a decline of 910.33% compared to the previous year[2] - The net profit for the period was -¥50,961,052.83, a drastic decline of 1,244.95% attributed to increased losses from subsidiaries[7] - The net profit for Q3 2024 was -50,961,052.83 CNY, compared to -3,789,063.40 CNY in the same period last year, indicating a significant decline in profitability[19] - Operating profit for Q3 2024 was -36,459,540.35 CNY, worsening from -13,451,983.40 CNY year-over-year[19] - Total revenue from operating activities decreased to 187,867,814.36 CNY, down from 211,248,296.45 CNY in Q3 2023, reflecting a decline of approximately 11.1%[21] - The company reported a total comprehensive loss of -50,848,504.62 CNY for Q3 2024, compared to -4,270,913.36 CNY in Q3 2023[20] - Basic and diluted earnings per share were both -0.22 CNY, compared to 0.03 CNY in the same quarter last year[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥978,527,644.62, up 6.18% from the end of the previous year[2] - Total assets reached ¥978,527,644.62, up from ¥921,568,236.98, indicating a growth of 6.2%[17] - Total liabilities increased to ¥350,438,679.40, compared to ¥253,974,871.37, reflecting a rise of 37.9%[17] - Non-current assets totaled ¥467,485,395.38, down from ¥487,856,130.29, a decrease of 4.2%[16] - Shareholders' equity attributable to the parent company decreased by 4.82% to ¥643,628,916.60 compared to the end of the previous year[2] - The company's equity attributable to shareholders decreased to ¥643,628,916.60 from ¥676,217,822.51, a decline of 4.8%[17] Cash Flow and Financing - Cash flow from operating activities showed a net outflow of -¥35,302,687.95, an improvement of 52.56% year-to-date[2] - The company received cash from loans amounting to ¥58,713,356.03, representing a 319.02% increase compared to the previous period, primarily due to increased working capital loans[9] - Cash paid for debt repayment was ¥14,088,359.63, which is a 100% increase as it was used to repay bank loans during the reporting period[9] - The company distributed dividends or paid interest amounting to ¥1,657,206.63, which is a 52.98% increase due to higher interest payments on loans[9] - The cash received from other financing activities was ¥7,186,217.05, marking a 100% increase as it was related to increased working capital loans from subsidiaries[9] - The company reported a significant increase in accounts receivable by 34.20% due to increased project acceptance[5] - Short-term borrowings increased to ¥50,000,000.00, marking a 100% rise as the company sought additional working capital[5] Shareholder Information - The total number of common shareholders at the end of the reporting period was 15,517, with the largest shareholder, Shanghai Feiyang Investment Management Co., Ltd., holding 25.63% of shares[10] - The total number of shares held by the top ten shareholders includes significant stakes from major investors, with the top three holding 25.63%, 11.06%, and 9.38% respectively[10] - The company has a total of 73,981,497 restricted shares, with 1,331,900 shares being newly restricted during the reporting period[14] Operational Insights - The company reported a significant decrease of 90.09% in cash paid for other financing activities, totaling ¥3,731,966.81, primarily due to last year's stock repurchase[9] - The company recorded a 326.01% increase in credit impairment losses, primarily due to increased provisions for bad debts[7] - Inventory increased to ¥249,254,260.85, up 26.6% from ¥196,827,418.56 at the beginning of the period[16] - Research and development expenses were 19,767,570.81 CNY, down from 23,041,284.95 CNY, showing a reduction of about 14.5%[19] Future Outlook and Strategic Initiatives - The company plans to continue its market expansion and product development strategies, although specific figures were not disclosed in the report[12] - The company is currently facing judicial freezes on certain shares, which may impact future share repurchase plans[14] - The report does not include any new strategic initiatives[23] - There are no details on future outlook or performance guidance mentioned[23] - Information regarding new product and technology development is absent[23] - No market expansion or acquisition strategies were discussed in the report[23] - The report lacks comparative data from previous quarters or years[23] - No specific financial performance metrics or user data were provided in the report[23] - There is no mention of operational challenges or market conditions affecting performance[23] Reporting Details - The third quarter report of Zhejiang Tianzhong Precision Machinery Co., Ltd. is unaudited[23] - The report was released on October 28, 2024[23]