MEI YAN(SH:600868)2024-10-30 07:47Financial Performance - The company's operating revenue for Q3 2024 was ¥116,158,621.30, an increase of 37.41% compared to the same period last year[2] - The net profit attributable to shareholders was -¥499,535.70, a decrease of 64.60% year-to-date[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,548,225.92, down 89.22% year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached CNY 254,732,306.54, an increase of 6.7% compared to CNY 237,983,157.16 in the same period of 2023[16] - Net profit for the third quarter of 2024 was CNY -9,169,689.41, compared to a net profit of CNY 33,359,020.21 in the same quarter of 2023, indicating a significant decline[17] - The company's total assets increased to CNY 3,003,322,561.59, up from CNY 2,765,817,022.84 in the previous year, reflecting a growth of 8.6%[15] - Total liabilities rose to CNY 682,751,170.02, compared to CNY 406,352,461.37 in the previous year, marking an increase of 67.9%[15] - The total equity attributable to shareholders decreased to CNY 2,260,791,155.55 from CNY 2,288,294,545.82, a decline of 1.2%[15] - Total comprehensive income attributable to the parent company for the third quarter of 2024 was CNY 11,626,168.65, down from CNY 32,845,047.79 in the previous year[18] Cash Flow and Assets - The cash flow from operating activities for the year-to-date was ¥62,104,658.70, an increase of 48.69% compared to the previous year[2] - Cash and cash equivalents increased to 441,953,134.66 RMB from 330,722,827.30 RMB year-over-year[12] - Cash and cash equivalents at the end of the third quarter of 2024 totaled CNY 438,219,692.32, up from CNY 250,497,124.71 at the end of the same quarter in 2023, marking an increase of about 74.9%[20] - The company experienced a net cash outflow from investing activities of CNY -145,972,138.20 in the first three quarters of 2024, compared to CNY -89,343,187.46 in the same period of 2023[19] - The company reported a total cash outflow from operating activities of CNY 208,067,705.74, compared to CNY 172,634,201.01 in the same period of 2023, indicating an increase of approximately 20.5%[19] Shareholder Information - As of September 30, 2024, the total number of ordinary shareholders is 214,914, with the largest shareholder, Guangdong Enerun Asset Management Co., Ltd., holding 135,500,173 shares, representing 7.14% of the total shares[9] - The company completed a share buyback of 23,879,700 shares from June 27, 2024, to September 27, 2024, accounting for 1.26% of the total share capital[11] - The company has no significant changes in the shareholding structure or related party transactions among the top shareholders[10] Operational Insights - The main reason for the increase in operating revenue was a significant growth in hydropower revenue[7] - The company attributed the decrease in net profit to increased credit impairment losses on accounts receivable from its subsidiary[8] - The company has not reported any significant new product developments or market expansions in this quarter[10] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and drive future growth[20] Expenses and Investments - Total operating costs increased to CNY 225,520,243.40, up 18.5% from CNY 190,251,985.68 year-on-year[16] - Research and development expenses for the third quarter were CNY 4,327,176.41, up from CNY 3,614,653.85, representing a growth of 19.7%[17] - The company reported a significant increase in sales expenses, which rose to CNY 7,386,242.17 from CNY 6,513,641.32, an increase of 13.3%[17] - The company experienced a loss in investment income of CNY -1,133,206.29, compared to a loss of CNY -517,891.23 in the previous year, indicating worsening investment performance[17] Earnings Per Share - The basic earnings per share for the year-to-date was -¥0.0003, a decrease of 64.74% compared to the previous year[3] - Basic and diluted earnings per share for the third quarter of 2024 were both CNY 0.0061, down from CNY 0.0173 in the same quarter of 2023, reflecting a decrease of approximately 64.7%[18]