AVE(SH:688067)2024-10-29 10:04Financial Performance - The company's operating revenue for Q3 2024 was ¥55,925,012.99, a decrease of 0.24% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥13,528,917.92, down 8.36% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥11,916,263.34, a decrease of 3.04% compared to the previous year[2]. - Total operating revenue for the first three quarters of 2024 reached CNY 153,120,219.59, a slight increase from CNY 150,758,873.39 in the same period of 2023, representing a growth of approximately 0.9%[15]. - Net profit for the third quarter of 2024 was CNY 25,129,248.58, compared to CNY 24,104,510.27 in the previous year, indicating an increase of approximately 4.2%[16]. - The company reported a profit before tax of CNY 27,103,948.68, compared to CNY 25,844,455.44 in the previous year, reflecting an increase of about 4.9%[16]. - Other comprehensive income after tax for the third quarter was CNY 15,943.21, compared to a loss of CNY 29,774.19 in the same quarter of 2023[17]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period increased by 64.16%, primarily due to improved customer credit management and reduced procurement payments[7]. - The net cash flow from operating activities for the first three quarters of 2024 was RMB 9,111,460.86, up from RMB 5,550,381.92 in the previous year, indicating a significant improvement[19]. - The total cash outflow from investing activities in the first three quarters of 2024 was RMB 318,146,250.45, compared to RMB 573,969,582.11 in the same period of 2023, showing a reduction in investment expenditures[19]. - The net cash flow from investing activities for the first three quarters of 2024 was -RMB 44,481,341.40, an improvement from -RMB 103,856,778.38 in the previous year[19]. - The total cash outflow from financing activities in the first three quarters of 2024 was RMB 15,455,934.18, compared to RMB 6,803,450.90 in the previous year, indicating increased financing costs[20]. - The net cash flow from financing activities for the first three quarters of 2024 was -RMB 15,455,934.18, worsening from -RMB 6,803,450.90 in the same period of 2023[20]. - The company reported a decrease in cash and cash equivalents by RMB 50,835,755.33 in the first three quarters of 2024, compared to a decrease of RMB 105,102,610.17 in the previous year[20]. Assets and Liabilities - The total assets at the end of the reporting period were ¥553,580,026.67, a decrease of 0.56% from the end of the previous year[3]. - The company's total assets amount to 553,580,026.67 RMB, with current assets at 284,996,502.50 RMB and non-current assets at 268,583,524.17 RMB[12]. - The total liabilities decreased to CNY 54,042,466.66 from CNY 66,846,498.15, marking a reduction of approximately 19.3%[14]. - The total equity attributable to shareholders increased to CNY 499,537,560.01 from CNY 489,844,831.60, representing a growth of about 2.0%[14]. Research and Development - Research and development (R&D) expenses for the year-to-date period amounted to ¥16,491,938.62, a decrease of 13.69% year-on-year[3]. - R&D expenses accounted for 10.62% of operating revenue, down 0.86 percentage points from the previous year[3]. - Research and development expenses for the first three quarters of 2024 were CNY 16,336,278.27, down from CNY 17,789,413.99, indicating a decrease of approximately 8.2%[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 3,686, with the largest shareholder, Ding Jianwen, holding 25,997,143 shares, accounting for 38.23% of the total shares[8]. - The company has a repurchase account holding 644,141 shares, representing 0.9473% of the total share capital[9]. - The company is actively managing its shareholder structure, with no significant changes in the top 10 shareholders compared to the previous period[10]. Inventory and Other Assets - The company's inventory stands at 45,439,653.06 RMB, compared to 43,008,101.21 RMB at the end of 2023, indicating an increase[12]. - The company reported a significant increase in other current assets, totaling 186,129,227.62 RMB, up from 151,621,637.04 RMB[12]. General Observations - The report does not indicate any new product launches or technological developments during this quarter[10].