Yonyou(SH:600588)2024-10-30 09:54Financial Performance - The operating revenue for the third quarter was CNY 1,932,829,205, a decrease of 17.3% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 661,426,684 for the quarter, with a year-to-date loss of CNY 1,455,368,589[3]. - The basic and diluted earnings per share for the quarter were both negative CNY 0.20, with year-to-date figures of negative CNY 0.44[4]. - The net loss attributable to shareholders was CNY 1.45537 billion, an increase of CNY 424.98 million year-on-year[15]. - The company reported a net loss of CNY 581,842,242 for the first three quarters of 2024, compared to a profit of CNY 873,526,347 in the same period of 2023[27]. - The total comprehensive income for Q3 2024 was -1,478,638,192 CNY, compared to -1,079,616,985 CNY in Q3 2023, indicating worsening financial performance[31]. - The company reported a basic and diluted earnings per share of -0.44 CNY for Q3 2024, down from -0.31 CNY in Q3 2023[31]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 525,063,004 for the quarter, contributing to a year-to-date total of negative CNY 2,046,126,139[4]. - The company's cash and cash equivalents decreased to CNY 3,607,003,123 as of September 30, 2024, down from CNY 8,045,445,865 at the end of 2023[25]. - The company's total assets amounted to CNY 23,460,049,140 as of September 30, 2024, compared to CNY 25,521,040,771 at the end of 2023[26]. - The company's total liabilities decreased to CNY 13,187,319,579 from CNY 13,717,677,549 at the end of 2023[27]. - The cash flow from operating activities showed a net outflow of -2,046,126,139 CNY for the first nine months of 2024, compared to -1,882,079,743 CNY in the previous year[32]. Revenue and Customer Growth - The company achieved operating revenue of CNY 573.812 million in Q3 2024, a year-on-year increase of 0.5%[14]. - Cloud service revenue reached CNY 428.67 million, growing by 8.6% year-on-year, with subscription revenue increasing by 27.8%[14]. - The number of cumulative paid cloud service customers reached 833,400, with 118,400 new customers added during the period[14]. - Subscription revenue from medium-sized enterprises grew by 61.8% year-on-year, with a renewal rate of 90.3% for the core product YonSuite[17]. - Revenue from small and micro enterprises reached CNY 67.484 million, a year-on-year increase of 23.8%[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 141,153[8]. - The largest shareholder, Beijing Yonyou Technology Co., Ltd., held 921,161,630 shares, representing 26.96% of the total shares[8]. Research and Development - The company reported a significant increase in capitalized intangible asset amortization and severance compensation, impacting net profit[7]. - Research and development expenses increased to 1,563,120,335 CNY in Q3 2024 from 1,494,933,181 CNY in Q3 2023, indicating a focus on innovation[30]. - The company has developed 38 new products based on the YonBuilder low-code platform during the reporting period[23]. - The number of registered developers in the YonBIP developer ecosystem reached 1.158 million[23]. Market Expansion and Contracts - The company established a subsidiary in Japan and expanded its market coverage in the Americas, Europe, and the Middle East[21]. - The company signed contracts with 41 central enterprises, including China Nonferrous Metals, China CRRC, and China National Chemical, during the reporting period[16]. Cost Management - The company reduced its employee count to 21,371, achieving certain cost control results[15]. - The company launched the Yongyou BIP 3 R6, achieving a 50% reduction in resource consumption and a 30% decrease in operational costs[22]. - Sales expenses for Q3 2024 were 1,767,521,518 CNY, slightly up from 1,728,614,609 CNY in Q3 2023, reflecting increased marketing efforts[30]. Investment and Financing Activities - The net cash flow from investing activities was -2,244,368,914 CNY, compared to -967,003,096 CNY in the previous year[33]. - Total cash inflow from financing activities was 4,463,416,758 CNY, down from 7,097,757,132 CNY year-over-year[33]. - The net cash flow from financing activities was 150,276,909 CNY, a significant decrease from 2,342,664,838 CNY in the previous year[33]. - The cash received from investment activities was 4,476,453,537 CNY, compared to 5,590,755,311 CNY in the previous year[33]. - The cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was 1,327,212,104 CNY, an increase from 1,200,480,484 CNY year-over-year[33].