BHAS(600960)2024-10-29 11:02Financial Performance - The company's operating revenue for Q3 2024 was ¥978,048,399.86, a decrease of 9.48% compared to the same period last year[2]. - The net profit attributable to shareholders of the listed company was -¥76,296,344.99, with a year-to-date net profit of -¥189,653,071.11[2]. - The basic earnings per share for Q3 2024 was -¥0.08, compared to -¥0.1995 for the year-to-date period[5]. - Total operating revenue for the first three quarters of 2024 was CNY 3,306,815,840, a decrease of 5.8% compared to CNY 3,510,470,480.99 in the same period of 2023[19]. - The company reported a net profit of CNY 470,362,320.55, down from CNY 659,715,491.66, indicating a decline of 28.7%[18]. - The total operating profit for Q3 2024 was CNY -182,313,676.00, worsening from CNY -94,710,507.21 in the same period last year[20]. - The company recorded a total comprehensive income of CNY 72,977,665.30 in Q3 2024, compared to a loss of CNY -136,587,066.68 in Q3 2023[21]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥47,723,830.16, reflecting a decrease of 80.07% year-on-year[2]. - As of September 30, 2024, the company's cash and cash equivalents increased to 923,431,676.58 yuan from 812,877,564.82 yuan at the end of 2023, reflecting a growth of approximately 13.6%[15]. - The company's cash and cash equivalents at the end of Q3 2024 amounted to CNY 766,100,561.94, slightly up from CNY 728,666,124.96 at the end of Q3 2023[24]. - The company’s cash and cash equivalents were not explicitly detailed but are part of the total current assets of CNY 3,694,985,097.95, which increased from CNY 3,580,467,577.72[17]. Liabilities and Equity - Total assets at the end of the reporting period were ¥7,991,076,196.30, an increase of 5.30% from the end of the previous year[5]. - Current liabilities rose to CNY 2,875,530,811.90, compared to CNY 2,644,698,544.65, an increase of 8.7%[17]. - The company's total liabilities reached CNY 3,409,060,998.31, up from CNY 3,082,623,357.17, reflecting an increase of 10.6%[17]. - The equity attributable to shareholders increased to CNY 4,537,297,458.89 from CNY 4,464,733,384.75, a rise of 1.6%[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 38,435[10]. - The largest shareholder, Beijing Haina Chuan Automotive Parts Co., Ltd., holds 219,038,871 shares, accounting for 23.04% of the total shares[11]. - Beijing Automotive Group Co., Ltd. is the second-largest shareholder with 206,390,009 shares, representing 21.71%[11]. - The third-largest shareholder, Guangxi Iron Investment Innovation Capital Investment Co., Ltd., holds 18,973,214 shares, which is 2.00%[11]. - The company has no shares under pledge, marking a stable shareholder structure[10]. - The top ten shareholders collectively hold a significant portion of the company's shares, indicating strong institutional support[11]. - There are no changes in the participation of the top ten shareholders in margin trading or securities lending compared to the previous period[12]. - The company has not disclosed any related party relationships among the top shareholders, ensuring transparency[11]. Operational Challenges - The company faced challenges due to geopolitical conflicts and a decline in sales from key customers, particularly affecting its German subsidiary BTAH[9]. - The increase in financial expenses was attributed to a rise in bank borrowings and overseas interest rates[9]. - The company reported a significant drop in export revenue from its subsidiary Taian Qicheng due to U.S.-China trade tensions[9]. Legal and Recovery Actions - The company provided a guarantee of 100 million yuan for Shandong Huaxing Machinery Co., Ltd. and its subsidiaries, with a total compensation of 108,402,689.88 yuan already paid due to overdue loans[13]. - The company’s subsidiary, Bohai Microfinance, has written off a loan of 70 million yuan to Shandong Hengda Precision Template Technology Co., Ltd., with a total recovery of 5,872,726.71 yuan from property auctions[13]. - The company has initiated legal proceedings against former executives for failing to recover loans, resulting in a court ruling for compensation of 6.66 million yuan from the former general manager of Bohai Microfinance[13]. - The company is pursuing a lawsuit against Huaren Yuntong for overdue payments totaling 19,488,148.66 yuan, with the case currently under review by the court[14]. - The company has initiated legal action to recover approximately 670,000 yuan worth of goods and molds from Zhenjiang Zhenfa Wheel Manufacturing Co., Ltd., with ongoing litigation[14]. - The company’s subsidiary has reported a total of 4 ongoing lawsuits related to loan recoveries, with some cases already resulting in favorable judgments[13]. - The company is actively managing risks associated with overdue accounts and has taken legal measures to protect its financial interests[14]. Research and Development - Research and development expenses increased to CNY 72,654,527.87, compared to CNY 68,404,974.12 in the previous year, marking an increase of 3.6%[19]. Strategic Outlook - The report emphasizes the importance of monitoring the company's operational performance during the reporting period[12]. - The company has not indicated any new strategies or product developments in the current report[12].