Financial Performance - Net profit attributable to shareholders was a loss of CNY 22,218,120.47, representing a 352.88% decline compared to a loss of CNY 4,905,996.19 in the same period last year[4] - Operating revenue for the first nine months of 2024 was CNY 540,103,770.71, a slight decrease of 0.39% from CNY 542,221,627.57 in the previous year[4] - Total operating revenue for Q3 2024 was CNY 540,103,770.71, a slight decrease of 0.4% compared to CNY 542,221,627.57 in Q3 2023[26] - The net loss for the first nine months of 2024 was ¥12,331,856.85, compared to a net loss of ¥522,090.94 in the same period of 2023, indicating a significant increase in losses[29] - The total profit (loss) for the first nine months of 2024 was -¥18,040,931.39, compared to -¥4,600,279.93 in the same period of 2023, reflecting a worsening financial position[28] Assets and Liabilities - Total assets decreased by 7.95% to CNY 1,085,265,556.95 as of September 30, 2024, compared to CNY 1,178,972,295.42 at the end of 2023[4] - The company's current assets totaled CNY 709,298,288.72, down from CNY 828,504,763.32, indicating a decrease of about 14.38%[20] - The total liabilities decreased to CNY 659,560,745.89 from CNY 735,051,097.89, a reduction of about 10.28%[22] - The company's fixed assets increased to CNY 46,098,221.54 from CNY 42,258,023.49 year-over-year, reflecting ongoing investment in infrastructure[24] - Non-current assets totaled CNY 408,551,560.24, up from CNY 362,373,970.69, indicating growth in long-term investments[24] Cash Flow - The net cash flow from operating activities improved by 31.31%, reaching CNY -38,358,536.83, compared to CNY -55,841,117.95 in the same period last year[4] - Cash inflow from operating activities totaled ¥478,165,920.43 in the first nine months of 2024, up from ¥416,130,304.29 in the same period of 2023, marking an increase of approximately 14.9%[31] - Net cash flow from operating activities was negative $18.02 million, an improvement from negative $23.12 million year-over-year[34] - The ending cash and cash equivalents balance was $32.52 million, up from $17.77 million in the same period last year, showing an increase of approximately 83.3%[34] Shareholder Information - The total number of ordinary shares at the end of the reporting period is 94,476,000, with 47.29% being unrestricted shares[10] - The largest shareholder, Nantong Juyuan Investment Management Co., Ltd., holds 39.49% of the shares, totaling 37,306,000 shares[11] - The total number of restricted shares is 49,796,250, representing 52.71% of the total share capital[10] - The company has 5,528 ordinary shareholders at the end of the reporting period[10] Expenses and Financial Costs - The company reported a significant increase in financial expenses by 61.06% to CNY 8,446,461.22 due to rising interest costs from working capital loans[5] - Total operating costs increased to CNY 576,969,148.09, up 4.8% from CNY 550,656,833.71 in the same period last year[26] - The company incurred financial expenses of ¥6,476,676.51 in the first nine months of 2024, significantly higher than ¥2,274,137.63 in 2023, indicating an increase of about 184.5%[28] Other Income and Subsidies - The company’s other income surged by 229.69% to CNY 5,441,941.83, primarily due to increased government subsidies[5] - The company reported other income of ¥3,802,585.84 in 2024, compared to ¥1,500,405.43 in 2023, which is an increase of approximately 153.5%[28] Research and Development - Research and development expenses for Q3 2024 were CNY 41,041,525.33, down from CNY 44,539,991.24 in Q3 2023, suggesting a potential shift in R&D strategy[26] - Research and development expenses remained relatively stable at ¥27,256,678.11 in 2024 compared to ¥27,465,526.45 in 2023, showing a decrease of about 0.8%[28] Debt and Borrowings - The company’s debt-to-asset ratio decreased to 60.77% from 62.35% year-over-year[4] - The company’s long-term borrowings increased by 245.29% to CNY 8,906,089.42, primarily for the construction of a new factory[5] - The company's short-term borrowings increased to CNY 250,152,861.11 from CNY 224,850,762.90, an increase of approximately 11.25%[22] Legal and Compliance - There are no significant litigation or arbitration matters that meet the disclosure standards during the reporting period[12] - The company has not provided external guarantees or loans during the reporting period[12] - The company has not engaged in any significant asset acquisitions or mergers during the reporting period[12] - The company has reported no pledges or judicial freezes on its assets[12]
大地电气(870436) - 2024 Q3 - 季度财报