Y.I.C.(SH:600119)2024-10-30 08:47Financial Performance - The company's operating revenue for Q3 2024 was ¥66,716,414.21, a decrease of 73.51% compared to the same period last year[2] - The net profit attributable to shareholders for Q3 2024 was -¥12,913,750.44, with a year-to-date net profit of -¥27,978,797.97[2] - The basic earnings per share for Q3 2024 was -¥0.036, compared to -¥0.077 for the same period last year[4] - Total operating revenue for the first three quarters of 2024 was CNY 419,490,834.82, a decrease of 34% compared to CNY 635,069,350.07 in the same period of 2023[16] - The net loss for the first three quarters of 2024 was CNY 40,594,235.44, compared to a net loss of CNY 4,970,091.63 in the same period of 2023, indicating a significant increase in losses[19] - Basic and diluted earnings per share for the first three quarters of 2024 were both CNY -0.077, compared to CNY -0.017 in the same period of 2023[19] Cash Flow and Liquidity - The cash flow from operating activities for Q3 2024 increased by 160.29% to ¥49,304,250.75[2] - The company’s cash flow from operating activities showed a significant decline, reflecting challenges in maintaining liquidity[19] - Cash inflow from operating activities for the first three quarters of 2024 reached ¥700,190,392.92, an increase of 11.7% compared to ¥626,723,288.46 in the same period of 2023[20] - Net cash flow from operating activities was ¥71,835,507.16, a significant improvement from a negative cash flow of ¥60,610,345.03 in the previous year[20] - Cash inflow from financing activities totaled ¥175,186,592.21, up from ¥143,581,962.40 in the previous year, marking an increase of 22.0%[21] - The company reported a net increase in cash and cash equivalents of ¥46,768,214.07, contrasting with a decrease of ¥107,923,957.80 in the same period of 2023[21] Assets and Liabilities - Total assets at the end of Q3 2024 were ¥646,050,889.89, a decrease of 13.43% from the end of the previous year[4] - The equity attributable to shareholders decreased by 13.57% to ¥178,260,728.17 compared to the end of the previous year[4] - The company's total liabilities decreased to ¥313,546,939.98 from ¥359,807,071.23 year-over-year[15] - The total liabilities as of the end of the third quarter of 2024 were CNY 322,543,899.86, down from CNY 382,985,242.26 at the end of 2023[16] - The equity attributable to shareholders of the parent company decreased to CNY 178,260,728.17 in 2024 from CNY 206,239,526.14 in 2023, a decline of approximately 14%[16] Operational Challenges - The company reported a significant decline in revenue due to business contraction in subsidiaries such as Shanghai Changfa International Freight Co., Ltd.[7] - The company indicated that the contraction in business was primarily due to reduced profitability and increased costs associated with downsizing operations[7] - The company experienced a decrease in weighted average return on equity, down 5.18 percentage points to -6.717% for Q3 2024[4] - The company reported a gross profit margin decline, with operating profit at CNY -28,921,503.24 for 2024 compared to CNY -1,857,001.49 in 2023[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,989[8] - The largest shareholder, Changjiang Economic United Development (Group) Co., Ltd., holds 167,418,761 shares, representing 45.83% of total shares[12] - The number of shares held by the top ten shareholders remains unchanged from the previous period[12] - The company has no significant changes in the status of shares held by major shareholders due to securities lending activities[12] Investment and Research - Research and development expenses increased to CNY 7,183,227.85 in 2024 from CNY 4,148,695.59 in 2023, representing a growth of approximately 73%[18] - The company reported a significant increase in inventory, which rose to ¥51,503,965.94 from ¥30,981,928.33[14] - Total cash outflow for investment activities was ¥377,505,755.72, down from ¥432,043,298.35 in the previous year, indicating a decrease of 12.6%[21]