SID(SH:600748)2024-10-30 08:05Financial Performance - The company's operating revenue for Q3 2024 was ¥571,257,676.49, a decrease of 64.99% compared to the same period last year[1]. - The net profit attributable to shareholders was -¥102,462,097.05, reflecting a decline of 932.32% year-on-year[1]. - The basic earnings per share for the current period was -¥0.05, down 600.00% compared to the previous year[2]. - The net profit for Q3 2024 was -313,516,934.02 CNY, a significant decline compared to a net profit of 544,828,476.40 CNY in Q3 2023, representing a year-over-year decrease of approximately 157.4%[21]. - The total profit for Q3 2024 was -262,452,959.55 CNY, down from 842,838,538.37 CNY in the same period last year, indicating a decline of about 131.1%[21]. - Operating profit for Q3 2024 was -194,468,206.85 CNY, compared to an operating profit of 774,145,152.28 CNY in Q3 2023, reflecting a decrease of approximately 125.1%[21]. - The total operating revenue for the first three quarters of 2024 was ¥1,600,579,847.51, a significant decrease from ¥5,080,690,264.90 in the same period of 2023, reflecting a decline of approximately 68.5%[19]. - The total operating costs for the first three quarters of 2024 were ¥1,966,404,547.33, compared to ¥4,575,185,620.38 in 2023, marking a decrease of about 57.0%[19]. - The net investment income for the first three quarters of 2024 was ¥39,308,408.44, down from ¥229,364,091.80 in the same period of 2023, indicating a decline of approximately 82.8%[19]. - The total comprehensive income for Q3 2024 was -313,019,371.92 CNY, compared to 544,828,476.40 CNY in Q3 2023, marking a decline of approximately 157.4%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥29,533,037,958.43, a decrease of 3.86% from the end of the previous year[2]. - As of September 30, 2024, the total current assets decreased to ¥17,548,115,876.62 from ¥18,534,489,873.46 as of December 31, 2023, representing a decline of approximately 5.33%[16]. - The total liabilities decreased to ¥18,582,956,552.24 from ¥19,418,447,093.02, indicating a reduction of about 4.30%[18]. - The total equity attributable to shareholders was ¥9,728,724,725.06, down 3.16% from the previous year[2]. - The total equity attributable to shareholders decreased to ¥9,728,724,725.06 from ¥10,046,071,744.85, a decline of about 3.16%[18]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥1,689,574,225.32[1]. - Cash flow from operating activities for the first nine months of 2024 was -1,689,574,225.32 CNY, an improvement from -2,411,761,685.71 CNY in the same period of 2023[24]. - Total cash inflow from operating activities for the first nine months of 2024 was 2,351,225,400.03 CNY, down from 3,259,931,847.35 CNY in the previous year, a decrease of about 28.0%[23]. - Cash and cash equivalents decreased to ¥2,808,850,271.19 from ¥3,968,550,830.62, a decline of about 29.2%[16]. - Cash and cash equivalents at the end of Q3 2024 were 2,748,694,395.29 CNY, down from 3,984,348,991.61 CNY at the end of Q3 2023, representing a decline of approximately 30.9%[25]. Operational Challenges - The company reported a significant decrease in real estate sales revenue, which was the primary reason for the decline in operating income[4]. - The company has not reported any new product developments or market expansion strategies in this quarter[1]. - The company reported a significant loss in the first half of 2024, as disclosed on July 10, 2024[12]. - As of September 25, 2024, the company is involved in 176 ongoing litigation and arbitration cases, with a total amount of approximately RMB 1,386.82 million, accounting for 13.80% of the latest audited net assets attributable to shareholders[12]. - The company’s subsidiary, Shanghai Shishi Longchuang Intelligent Technology Co., Ltd., is facing bankruptcy liquidation proceedings as of October 10, 2024[13]. Shareholder Information - The top 10 shareholders include Shanghai Industrial Investment (Group) Co., Ltd., holding 26,441,700 shares, representing 1.43% of total shares[10]. - The company’s major shareholders are primarily controlled by the Shanghai State-owned Assets Supervision and Administration Commission[9]. - The company’s stock lending situation shows that shareholder Zheng Manshan held 26,629,111 shares through a credit securities account as of the end of Q3 2024[9]. Management Changes and Corporate Governance - The company disclosed the resignation of its employee supervisor on July 2, 2024, and the resignation of the CEO and vice president due to job transfers on October 14, 2024[13]. - The company announced a financial assistance proposal to joint ventures during the board meetings held on July 15, 2024[12]. Government Support - The company received government subsidies totaling approximately RMB 21.99 million from January 1 to September 30, 2024[13]. - Non-recurring gains and losses for the current period totaled -¥19,511,546.58, with government subsidies contributing ¥19,510,000.00[3]. Return on Equity - The weighted average return on equity was -1.05%, a decrease of 1.17 percentage points compared to the previous year[2].