德美化工(002054) - 2024 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2024 was ¥783,761,074.75, representing a decrease of 4.99% compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2024 was ¥11,871,581.56, down 22.28% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥11,662,159.71, a decrease of 24.72% compared to the previous year[2]. - Basic earnings per share for Q3 2024 were ¥0.0253, down 20.19% year-on-year[2]. - The weighted average return on net assets was 0.48%, a decrease of 0.13% compared to the previous year[2]. - The net profit attributable to shareholders of the parent company increased by 45.39% to CNY 52,834,993.57 compared to CNY 36,339,583.49 in the same period last year[6]. - The total comprehensive income attributable to shareholders of the parent company rose by 33.28% to CNY 53,146,179.05 from CNY 39,874,760.05 year-on-year[7]. - Basic and diluted earnings per share increased by 47.48% to CNY 0.1112 from CNY 0.0754 in the previous year[7]. - The total comprehensive income decreased by 51.66% to CNY -23,855,892.27, reflecting an increase in net profit[6]. Assets and Liabilities - The total assets as of September 30, 2024, were ¥6,706,567,041.39, reflecting a decline of 7.26% from the end of the previous year[2]. - The company’s total equity attributable to shareholders decreased by 2.04% to ¥2,455,325,816.28 compared to the end of the previous year[2]. - Total assets decreased from ¥7,231,827,108.89 to ¥6,706,567,041.39, a decline of approximately 7.25%[18]. - Current assets decreased from ¥2,577,751,847.20 to ¥2,079,054,499.91, a reduction of about 19.36%[18]. - Total liabilities decreased from ¥4,156,876,876.44 to ¥3,803,263,847.23, a decline of approximately 8.49%[19]. - Long-term borrowings slightly increased from ¥2,409,278,181.31 to ¥2,420,497,366.05, an increase of about 0.05%[19]. Cash Flow - The company's cash flow from operating activities showed a significant increase of 358.00%, totaling ¥195,942,576.27 year-to-date[2]. - The total cash inflow from operating activities reached ¥3.07 billion, up from ¥1.75 billion year-on-year, indicating a growth of 75.5%[22]. - The net cash flow from operating activities was ¥195.94 million, significantly higher than ¥42.78 million in the previous year, marking an increase of 358.5%[22]. - Cash and cash equivalents at the end of Q3 2024 stood at ¥424.61 million, down from ¥700.78 million at the end of Q3 2023, a decrease of 39.4%[23]. - The company reported a net cash outflow from investing activities of approximately ¥386.69 million, compared to a net outflow of ¥341.99 million in the same period last year[23]. - The company experienced a net cash outflow from financing activities of approximately ¥61.72 million, contrasting with a net inflow of ¥174.29 million in the same period last year[23]. Inventory and Receivables - The company reported a 32.20% increase in accounts receivable, amounting to ¥764,905,062.79, primarily due to sales growth in textile and leather chemicals[5]. - The company recorded a significant increase in inventory shares, which rose by 1669.48% to ¥50,347,095.39 due to share repurchases[5]. - Accounts receivable increased from ¥578,580,686.75 to ¥764,905,062.79, an increase of about 32.14%[18]. Shareholder Activities - As of September 30, 2024, the company repurchased a total of 9,920,205 shares, accounting for 2.06% of the total share capital[11]. - The company approved a share repurchase plan on July 10, 2023, with a total fund of no less than RMB 50 million and not exceeding RMB 100 million, at a price not exceeding RMB 8.00 per share[10]. - The company’s stock repurchase plan has been completed as of July 9, 2024[11]. - The employee stock ownership plan's third lock-up period will expire on September 28, 2024, allowing the release of 371,168 shares, which is 0.77% of the total share capital[15]. Investments and Acquisitions - The company acquired 100% ownership of its subsidiary, 德美瓦克, by purchasing the remaining 50% equity from Wacker Chemie for RMB 67.7768 million[12]. - The company sold certain assets and inventory of its subsidiary 德美瓦克分公司 to Wacker Zhangjiagang for RMB 15.3504 million (excluding VAT)[12]. - The company increased its investment in its subsidiary 德美研究有限公司 by USD 300,000[16]. Financial Expenses and Income - The company's financial expenses increased by 30.74% to CNY 63,584,082.61, primarily due to increased interest expenses[6]. - Other income surged by 115.59% to CNY 10,267,523.87, mainly from government subsidies and tax refunds[6]. - Investment income decreased by 52.37% to CNY 5,387,760.59, primarily due to a decline in net profits from joint ventures[6]. - The company's tax expenses increased significantly by 251.70% to CNY 50,407,172.97, attributed to a rise in total profit[6]. - The impairment loss on assets increased by 378.56% to CNY -3,235,284.40, in accordance with accounting policies[6]. Management and Governance - The company’s board of directors and supervisory board were re-elected on April 22, 2024, with new management appointed[13]. - The company’s major shareholder, 傅厚恩, holds 7,970,555 shares, representing a significant portion of the total shares[9]. - The company’s major shareholder, 黄冠雄, is identified as a concert party with 佛山市顺德区德美化工集团有限公司[9].