Friend (SH:605050)2024-10-30 07:35Financial Performance - Total revenue for the third quarter reached ¥2,738,163,427.10, representing an increase of 8.10% year-over-year[2] - Net profit attributable to shareholders decreased by 26.46% to ¥84,713,101.00 for the third quarter[2] - The net profit excluding non-recurring gains and losses was ¥71,279,961.47, down 30.63% compared to the same period last year[2] - Basic earnings per share (EPS) for the third quarter was ¥0.17, a decrease of 29.17% year-over-year[4] - Total operating revenue for the first three quarters of 2024 reached CNY 7,838,341,141.14, an increase from CNY 6,964,767,329.57 in the same period of 2023, representing a growth of approximately 12.5%[14] - Net profit for the first three quarters of 2024 was CNY 206,826,591.47, compared to CNY 298,505,191.98 in the same period of 2023, reflecting a decrease of approximately 30.7%[15] - Total comprehensive income for the third quarter of 2024 was approximately CNY 206.83 million, a decrease from CNY 298.51 million in the same period of 2023, representing a decline of about 30.7%[16] - Basic and diluted earnings per share for the third quarter of 2024 were CNY 0.41, down from CNY 0.60 in the previous year, reflecting a decrease of approximately 31.7%[16] Assets and Liabilities - Total assets increased by 22.23% to ¥8,491,329,794.19 compared to the end of the previous year[4] - Total assets as of the end of the third quarter of 2024 were CNY 8,491,329,794.19, compared to CNY 6,946,848,279.47 at the end of the previous year, representing an increase of approximately 22.2%[12] - Total liabilities reached CNY 4,146,038,517.17, up from CNY 2,596,353,870.09 in the previous year, indicating an increase of about 59.5%[12] - The total equity attributable to shareholders slightly decreased by 0.23% to ¥4,200,753,105.09 compared to the end of the previous year[4] - The total equity attributable to shareholders was CNY 4,200,753,105.09, slightly down from CNY 4,210,469,452.02 in the previous year, showing a decrease of approximately 0.2%[13] Cash Flow - The company reported a net cash flow from operating activities of -¥257,074,078.59 year-to-date[2] - Cash inflow from operating activities for the first nine months of 2024 was CNY 8.73 billion, an increase of about 15.5% compared to CNY 7.55 billion in the same period of 2023[17] - Net cash flow from operating activities for the third quarter of 2024 was negative CNY 257.07 million, an improvement from negative CNY 642.92 million in the same period of 2023[19] - The company reported a total cash outflow from operating activities for the first nine months of 2024 was CNY 8.98 billion, an increase of about 9.7% from CNY 8.19 billion in the same period of 2023[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,896[8] - The largest shareholder, Cui Jianhua, holds 127,810,000 shares, accounting for 25.93% of the total shares[8] Operational Insights - The decline in profits is primarily attributed to supply chain pressures in the automotive industry, leading to a decrease in gross margins[7] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[14] - There are no other important reminders regarding the company's operational situation during the reporting period[10] Research and Development - Research and development expenses for the third quarter of 2024 amounted to CNY 3,157,654.75, significantly higher than CNY 1,631,145.31 in the previous year, marking an increase of about 93.4%[15] Current Assets - The company's total current assets as of September 30, 2024, amount to 6,995,344,933.51 RMB, an increase from 5,782,789,997.96 RMB at the end of 2023[11] - Accounts receivable decreased to 1,233,355,650.28 RMB from 1,494,040,884.43 RMB year-over-year[11] - Inventory increased to 1,704,679,009.96 RMB from 1,262,824,200.33 RMB year-over-year[11] - The company's cash and cash equivalents as of September 30, 2024, are 1,116,230,312.67 RMB, up from 959,081,107.49 RMB at the end of 2023[10] - The company reported a significant increase in prepayments to 1,232,528,274.23 RMB from 917,586,159.69 RMB year-over-year[11] - Fixed assets increased to 907,790,250.79 RMB from 516,540,420.83 RMB year-over-year[11] Borrowings - Short-term borrowings increased to CNY 1,496,273,246.60 from CNY 403,967,375.16, reflecting a significant rise of about 270%[12]