JCON(BJ:836149)2024-10-30 09:39Financial Performance - Operating revenue for the first nine months of 2024 was CNY 431,269,315.94, down 13.73% from CNY 499,896,817.93 in the same period of 2023[4] - Net profit attributable to shareholders decreased by 37.32% to CNY 3,896,570.37 for the first nine months of 2024, compared to CNY 6,217,075.51 in 2023[4] - In Q3 2024, operating revenue fell by 62.54% to CNY 90,529,517.94, down from CNY 241,651,696.04 in Q3 2023[5] - The net profit attributable to shareholders in Q3 2024 was a loss of CNY 5,684,855.27, compared to a profit of CNY 2,557,809.32 in Q3 2023, marking a decline of 322.25%[5] - The weighted average return on equity based on net profit attributable to shareholders was 2.14% for the first nine months of 2024, down from 3.57% in the same period of 2023[4] - Net profit for the first nine months of 2024 was CNY -420,027.10, compared to a net profit of CNY 5,898,112.39 in the previous year, indicating a significant decline[23] - Basic earnings per share decreased from 0.08 to 0.05 yuan per share, a decline of 37.5%[24] Assets and Liabilities - Total assets decreased by 11.40% to CNY 834,111,945.57 as of September 30, 2024, compared to CNY 941,481,181.35 at the end of 2023[3] - The company's asset-liability ratio decreased to 74.82% in the consolidated statement, down from 77.52% at the end of 2023[3] - Total liabilities were reported at ¥624,085,678.68, down from ¥729,808,147.30, reflecting a decrease of approximately 14.5%[17] - Current liabilities decreased to ¥527,717,989.97 from ¥611,806,099.81, indicating a reduction of about 13.7%[16] - The company's equity attributable to shareholders increased to ¥185,508,960.79 from ¥182,485,785.52, showing a growth of about 1.1%[17] Cash Flow - Cash flow from operating activities improved by 100.84% to CNY 331,250.94 in the first nine months of 2024, compared to a negative cash flow of CNY 39,284,892.82 in the same period of 2023[4] - Operating cash inflow for the first nine months of 2024 reached ¥299,428,836.07, a 52.7% increase from ¥196,078,763.50 in the same period of 2023[28] - Net cash flow from operating activities was ¥18,824,851.10, a significant recovery from a net outflow of ¥23,250,255.45 in the previous year[29] - Cash outflow from investing activities totaled ¥62,900,204.88, compared to ¥19,000,718.13 in the same period last year, indicating increased investment activity[29] - Cash inflow from financing activities amounted to ¥96,737,205.83, slightly up from ¥93,047,791.02 in the same period last year[29] Shareholder Information - The total number of ordinary shares at the end of the period was 73,758,000, with 4,696 shareholders[12] - Major shareholders include Ding Jie and Ding Qiang, holding 21.25% and 20.73% of shares respectively[13] - The company reported a decrease in core employee shares from 1,637,686 to 1,217,403, indicating a reduction in employee ownership[12] Operational Insights - The company anticipates a significant decline in operating performance for the full year 2024 if the business environment does not improve in Q4[8] - Significant increase in accounts receivable by 246.96% to CNY 3,479,405.40 due to an increase in commercial acceptance bills[7] - The company has implemented an employee incentive plan, which was approved by the shareholders' meeting[14] - The company has maintained a stable capital structure with no significant changes in the number of shares held by major shareholders[11] Tax and Expenses - Research and development expenses for the first nine months of 2024 were CNY 16,171,592.31, down from CNY 19,639,417.35, suggesting a potential shift in focus[22] - The company reported a significant increase in tax expenses, rising from CNY 3,212,139.88 to CNY 2,356,278.54, reflecting changes in tax strategy or obligations[23] - The company experienced a credit impairment loss of CNY 2,798,403.94, contrasting with a gain of CNY -12,989,983.98 in the previous year, highlighting increased credit risk[23] Non-Recurring Gains - Non-recurring gains totaled CNY 2,923,065.25, with a net amount of CNY 1,489,587.43 after tax effects and minority interests[9] - The total non-recurring gains and losses significantly impacted the financial results, highlighting the importance of these figures in assessing overall performance[9]