Bestore(SH:603719)2024-10-29 10:42Financial Performance - The company's operating revenue for Q3 2024 was ¥1,593,966,448.02, a decrease of 20.81% compared to the same period last year[2] - The net profit attributable to shareholders was a loss of ¥4,500,259.59, representing a decline of 325.20% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥10,609,135.74, with no applicable percentage change[2] - Total revenue for the first three quarters of 2024 was CNY 5,480,183,971.09, a decrease of 8.7% compared to CNY 5,999,493,095.14 in the same period of 2023[14] - Net profit for the third quarter of 2024 was CNY 16,551,631.56, a significant decline from CNY 190,815,809.43 in the same quarter of 2023, indicating challenges in profitability[16] - The net profit attributable to the parent company for Q3 2024 is CNY 19,390,343.36, compared to CNY 191,304,417.63 in Q3 2023, indicating a significant decline[17] - The total comprehensive income for Q3 2024 is CNY 16,551,631.56, down from CNY 192,503,309.43 in the same period last year[17] - Basic and diluted earnings per share for Q3 2024 are both CNY 0.05, compared to CNY 0.48 in Q3 2023[17] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥76,312,882.20, down 92.06% compared to the previous year[3] - Cash inflow from operating activities for the first three quarters of 2024 is CNY 6,451,524,760.16, a decrease from CNY 7,355,259,661.95 in the previous year[18] - Cash outflow from operating activities for the first three quarters of 2024 is CNY 6,375,211,877.96, slightly lower than CNY 6,394,518,703.49 in the same period last year[18] - The net cash flow from operating activities for the first three quarters of 2024 is CNY 76,312,882.20, a significant drop from CNY 960,740,958.46 in the previous year[18] - The net cash flow from investing activities for Q3 2024 is -CNY 992,133,343.32, compared to -CNY 367,494,518.30 in Q3 2023, indicating increased investment outflows[19] - The net cash flow from financing activities for Q3 2024 is -CNY 482,532,154.92, slightly worse than -CNY 456,893,921.56 in Q3 2023[19] - The cash and cash equivalents at the end of Q3 2024 amount to CNY 468,564,437.15, down from CNY 1,439,247,741.18 at the end of Q3 2023[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,425,754,439.50, a decrease of 19.84% from the end of the previous year[3] - The company's total assets decreased to CNY 4,425,754,439.50 from CNY 5,521,460,814.80 year-over-year, showing a reduction in asset base[14] - Current liabilities were reduced to CNY 1,791,528,520.62 from CNY 2,625,438,279.20, indicating improved liquidity management[14] - The total equity attributable to shareholders decreased to CNY 2,411,187,829.97 from CNY 2,489,308,020.59, reflecting a decline in shareholder value[14] Shareholder Information - The company reported a total of 41,078 common shareholders at the end of the reporting period[8] - The largest shareholder, Ningbo Hanyi Venture Capital Partnership, holds 141,287,094 shares, representing 35.23% of total shares[8] - The second-largest shareholder, Dayong Limited, holds 88,866,126 shares, accounting for 22.16%[8] - The company has a total of 75,900,000 pledged shares, primarily by the largest shareholder[8] - There were no significant changes in the shareholding structure due to securities lending activities during the reporting period[10] Cost Management and Strategy - The decline in net profit was attributed to a combination of price reductions on certain products and a decrease in operating revenue[6] - The company plans to implement refined management strategies to control costs effectively in response to the declining revenue[6] - The company is focusing on cost reduction and efficiency improvements in response to declining revenues and profits[16] - Operating costs for the first three quarters of 2024 were CNY 5,470,280,606.28, down from CNY 5,824,266,290.71 in 2023, reflecting a cost reduction strategy[16] - Research and development expenses for the first three quarters of 2024 were CNY 14,872,956.61, down from CNY 36,204,738.39 in 2023, suggesting a potential slowdown in innovation[16] - The company reported a decrease in sales expenses to CNY 1,128,403,934.36 from CNY 1,150,498,949.60, reflecting cost control measures[16] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[9] - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year[20]