First(SH:603806)2024-10-30 09:45Revenue and Profit - Revenue for Q3 2024 was CNY 4,410,570,044.46, a decrease of 26.90% compared to the same period last year[2] - Net profit attributable to shareholders was CNY 329,574,805.41, down 39.67% year-on-year[2] - Basic earnings per share for the period was CNY 0.12, a decline of 42.86% compared to the previous year[2] - Total operating revenue for the first three quarters of 2024 was CNY 15,174,251,391.12, a decrease of 8.85% compared to CNY 16,649,610,494.16 in the same period of 2023[17] - Net profit for the first three quarters of 2024 was CNY 1,256,863,367.93, compared to CNY 1,431,512,764.83 in 2023, representing a decline of 12.19%[19] - The company reported a basic earnings per share of CNY 0.48 for the first three quarters of 2024, down from CNY 0.55 in the same period of 2023[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 21,717,254,509.84, a decrease of 0.55% from the end of the previous year[3] - Current assets totaled RMB 16,458,899,532.98, down from RMB 17,336,533,689.76 at the end of 2023, indicating a decrease of approximately 5.05%[14] - The company's cash and cash equivalents were RMB 4,600,591,681.68, compared to RMB 5,340,879,268.46 at the end of 2023, reflecting a decline of about 13.83%[14] - Accounts receivable decreased to RMB 4,138,559,589.64 from RMB 4,813,574,990.24, a reduction of approximately 13.95%[14] - Inventory decreased to RMB 2,145,124,268.19 from RMB 3,089,888,250.87, representing a significant decline of about 30.54%[14] - Total liabilities decreased to CNY 5,107,246,998.05 in Q3 2024 from CNY 6,038,644,037.03 in Q3 2023, a reduction of 15.38%[16] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 5.11% to CNY 16,387,366,428.84 compared to the end of the previous year[3] - Total equity attributable to shareholders increased to CNY 16,387,366,428.84 in Q3 2024 from CNY 15,590,109,604.98 in Q3 2023, reflecting an increase of 5.12%[16] - The total number of common shareholders at the end of the reporting period was 53,747[8] Cash Flow - The company reported a cash inflow from operating activities of CNY 2,789,226,478.73 year-to-date, reflecting changes in sales and payment timing[6] - Cash generated from operating activities was CNY 14,860,868,284.72 in the first three quarters of 2024, compared to CNY 12,532,675,094.67 in 2023, indicating an increase of 18.54%[21] - The net cash flow from operating activities for Q3 2024 was ¥2,789,226,478.73, a significant improvement from a negative cash flow of ¥2,289,421,875.27 in the same period last year[22] - Total cash inflow from operating activities reached ¥15,108,081,631.99, compared to ¥12,990,031,581.50 in Q3 2023, indicating a year-over-year increase of approximately 16.3%[22] - Cash outflow for operating activities decreased to ¥12,318,855,153.26 from ¥15,279,453,456.77, reflecting a reduction of about 19.3%[22] Expenses and Costs - Total operating costs for the first three quarters of 2024 were CNY 13,770,717,617.95, down from CNY 15,070,241,554.78 in 2023, reflecting a reduction of 8.59%[17] - Research and development expenses for the first three quarters of 2024 amounted to CNY 518,013,725.90, slightly increasing from CNY 514,766,431.90 in the previous year[19] - The tax expenses for the first three quarters of 2024 were CNY 150,614,691.01, compared to CNY 146,215,538.23 in 2023, showing a slight increase of 3.27%[19] Foreign Exchange and Other Factors - The decline in revenue was primarily due to a decrease in sales prices of photovoltaic films and backsheets[6] - The company experienced an increase in foreign exchange losses due to fluctuations in the USD exchange rate, impacting net profit[6] - Non-recurring gains and losses totaled CNY 10,380,127.28 for the current period[4] Financing Activities - Cash inflow from financing activities was ¥892,148,200.00, down from ¥2,319,840,195.83 in the same quarter last year, representing a decline of approximately 61.6%[23] - The net cash flow from financing activities was negative at ¥762,665,215.93, compared to a positive cash flow of ¥345,781,553.33 in Q3 2023[23] Other Information - The company has not reported any significant changes in the participation of major shareholders in margin financing and securities lending activities[12] - There are no significant new strategies or product developments mentioned in the report[13] - The company reported a total of 1,264,342,716 shares held by the largest shareholder, indicating a strong control over the company[10] - Long-term borrowings increased to RMB 294,045,000.00 from RMB 70,000,000.00, showing a significant increase of approximately 320.06%[15]