GZCBN(SH:600996)2024-10-29 11:25Revenue and Profit Performance - Revenue for the reporting period was RMB 347.02 million, a decrease of 9.45% year-over-year[3] - Net profit attributable to shareholders of the listed company was RMB -260.36 million for the reporting period[3] - Total operating income for the first three quarters of 2024 was 1,236,303,019.45 RMB, a decrease from 1,680,946,129.31 RMB in the same period of 2023[15] - Net profit for the first three quarters of 2024 was -699,052,832.66 RMB, a significant decline from -472,002,037.05 RMB in the same period of 2023[17] - Net profit for the first three quarters of 2024 was a loss of RMB 665.02 million, compared to a loss of RMB 480.78 million in the same period of 2023, an increase in loss of 38.3%[27] - Operating income for the first three quarters of 2024 was RMB 1.16 billion, a decrease of 28.1% compared to RMB 1.62 billion in the same period of 2023[27] Assets and Liabilities - Total assets at the end of the reporting period were RMB 16.52 billion, a decrease of 4.58% compared to the end of the previous year[3] - Total assets as of the end of Q3 2024 were 16,520,548,913.89 RMB, a decrease from 17,312,688,084.70 RMB at the end of Q3 2023[13] - Total liabilities as of the end of Q3 2024 were 12,582,588,168.58 RMB, a slight decrease from 12,677,076,748.74 RMB at the end of Q3 2023[14] - The company's total equity as of the end of Q3 2024 was 3,937,960,745.31 RMB, a decrease from 4,635,611,335.96 RMB at the end of Q3 2023[14] - Total assets decreased from RMB 16.63 billion to RMB 15.84 billion, a decline of 4.7%[25] - Total liabilities decreased from RMB 12.63 billion to RMB 12.51 billion, a decline of 1.0%[25] - Total equity decreased from RMB 3.99 billion to RMB 3.33 billion, a decline of 16.6%[26] Cash Flow and Liquidity - Net cash flow from operating activities was RMB 109.47 million, an increase of 202.51% year-over-year[3] - Cash received from sales of goods and services in the first three quarters of 2024 was 1,222,159,303.50 RMB, a decrease from 1,786,147,719.73 RMB in the same period last year[19] - Net cash flow from operating activities for the first three quarters of 2024 was 231,368,738.51 RMB, a decrease from 249,474,348.00 RMB in the same period last year[21] - Net cash flow from investing activities for the first three quarters of 2024 was -548,317,861.15 RMB, an improvement from -972,938,484.97 RMB in the same period last year[21] - Net cash flow from financing activities for the first three quarters of 2024 was 2,091,019.01 RMB, a significant decrease from 897,937,857.10 RMB in the same period last year[21] - Cash and cash equivalents at the end of September 2024 were 110,456,366.42 RMB, a decrease from 382,377,389.45 RMB at the end of September 2023[22] - Net cash flow from operating activities decreased from RMB 274.54 million to RMB 65.36 million, a decline of 76.2%[29] - Net increase in cash and cash equivalents: -304,637,036.87 RMB[30] Research and Development - R&D expenses increased by 34.95% year-to-date, mainly due to increased R&D activities[5] - Research and development expenses for the first three quarters of 2024 were 12,780,656.06 RMB, an increase from 9,470,906.31 RMB in the same period of 2023[17] - Research and development expenses increased significantly from RMB 1.03 million to RMB 5.28 million, a growth of 413.6%[27] Investment and Income - Investment income increased by 740.80% year-to-date, primarily due to gains from debt restructuring[5] - Investment income received in cash: 4,735,255.32 RMB[30] - Cash received from disposal of fixed assets, intangible assets, and other long-term assets: 178,300.00 RMB[30] - Total cash inflow from investment activities: 34,913,555.32 RMB[30] - Cash paid for construction of fixed assets, intangible assets, and other long-term assets: 539,291,479.13 RMB[30] - Total cash outflow from investment activities: 539,291,479.13 RMB[30] - Net cash flow from investment activities: -504,377,923.81 RMB[30] Shareholder and Equity Information - The company's total equity attributable to shareholders decreased by 17.07% compared to the end of the previous year[3] - The company's weighted average return on equity (ROE) was -18.71% year-to-date[3] - The total number of ordinary shareholders at the end of the reporting period is 49,003[8] - Guizhou Broadcasting & Television Investment Co., Ltd. holds 393,224,636 shares, representing 32.48% of the total shares[8] - China Guizhou Maotai Distillery (Group) Co., Ltd. holds 121,423,728 shares, representing 10.03% of the total shares[8] - Guizhou Telecom Industry Co., Ltd. holds 61,263,752 shares, representing 5.06% of the total shares[8] Asset Impairment and Government Subsidies - Asset impairment losses decreased by 319.09% year-to-date, mainly due to reduced provisions for asset impairment[5] - Government subsidies related to income increased by 39.00% year-to-date[5] - The company's credit impairment loss for the first three quarters of 2024 was -155,821,425.07 RMB, slightly higher than -154,999,736.60 RMB in the same period of 2023[17] Current and Non-Current Assets - The monetary funds as of September 30, 2024, are 217,377,375.88, a decrease from 555,597,538.76 as of December 31, 2023[12] - Accounts receivable as of September 30, 2024, are 3,010,196,687.53, slightly increased from 2,975,668,655.93 as of December 31, 2023[12] - Inventory as of September 30, 2024, is 103,027,842.02, decreased from 136,973,761.27 as of December 31, 2023[12] - Total current assets as of September 30, 2024, are 4,877,286,687.39, decreased from 5,517,438,888.60 as of December 31, 2023[12] - Fixed assets as of September 30, 2024, are 7,523,136,018.83, slightly decreased from 7,565,322,520.92 as of December 31, 2023[12] - Construction in progress as of September 30, 2024, is 464,652,087.67, increased from 311,480,036.81 as of December 31, 2023[12] - Total current assets as of September 30, 2024 were 4,864,239,394.84 RMB, a decrease from 5,532,675,831.36 RMB as of December 31, 2023[23] - Fixed assets as of September 30, 2024 were 6,692,100,165.94 RMB, a slight decrease from 6,708,360,450.52 RMB as of December 31, 2023[23] - Construction in progress as of September 30, 2024 was 453,942,830.48 RMB, an increase from 304,978,400.73 RMB as of December 31, 2023[23] - The company's total non-current assets as of the end of Q3 2024 were 11,643,262,226.50 RMB, a slight decrease from 11,795,249,196.10 RMB at the end of Q3 2023[13] Financing Activities - Cash received from borrowings: 3,802,100,000.00 RMB[30] - Total cash inflow from financing activities: 4,583,029,238.18 RMB[30] - Net cash flow from financing activities: 134,377,485.81 RMB[30] - Short-term borrowings increased from RMB 3.58 billion to RMB 3.99 billion, a growth of 11.5%[25] Other Financial Metrics - Comprehensive income for the first three quarters of 2024 totaled -699,052,832.66 RMB, a decrease compared to -472,380,037.05 RMB in the same period last year[18] - Basic earnings per share (EPS) for the first three quarters of 2024 was -0.56 RMB, compared to -0.39 RMB in the same period last year[18] - Interest expenses for the first three quarters of 2024 were 255,882,188.69 RMB, an increase from 235,178,283.00 RMB in the same period of 2023[17] - Contract liabilities decreased from RMB 697.16 million to RMB 629.74 million, a decline of 9.7%[25] - Long-term prepaid expenses decreased from RMB 564.68 million to RMB 434.97 million, a decline of 23.0%[25]