XSS(SH:600117)2024-10-30 10:12Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,419,223,501.40, representing a year-on-year increase of 101.67%[2] - The net profit attributable to shareholders was -¥108,847,683.41 for the quarter, with a cumulative net profit of -¥402,576,383.58 year-to-date[2] - The basic earnings per share for the quarter was -¥0.03, and the diluted earnings per share was also -¥0.03[3] - Net profit for the year-to-date period is -58.42 million RMB, attributed to steady growth in production and sales, significant cost reduction, and a change in the scope of consolidation leading to reduced losses[9] - The company reported a net loss of ¥3,050,539,497.84 for the first three quarters of 2024, compared to a net loss of ¥2,647,963,114.26 in the same period of 2023[19] - The net profit for Q3 2024 was -591,913,797.55 CNY, compared to -1,423,522,185.43 CNY in Q3 2023, showing an improvement of approximately 58.4% year-over-year[22] - The total operating profit for Q3 2024 was -578,552,720.22 CNY, an improvement from -1,388,272,174.84 CNY in the same period last year[22] - Total comprehensive income for Q3 2024 was -591,913,797.55 CNY, compared to -1,423,522,185.43 CNY in Q3 2023, indicating a year-over-year improvement[23] - Basic and diluted earnings per share for Q3 2024 were both -0.12 CNY, compared to -1.12 CNY in Q3 2023[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,069,398,016.83, a decrease of 6.60% compared to the end of the previous year[3] - The equity attributable to shareholders decreased by 6.22% to ¥5,033,661,091.84 compared to the end of the previous year[3] - The total assets of the company as of the end of the third quarter of 2024 were ¥13,069,398,016.83, down from ¥13,993,269,342.10 at the end of 2023[19] - The total liabilities decreased to ¥5,905,689,508.34 in 2024 from ¥6,306,559,929.70 in 2023, showing a reduction of about 6.4%[19] - The company's equity attributable to shareholders decreased to ¥5,033,661,091.84 in 2024 from ¥5,367,324,581.78 in 2023, a decline of approximately 6.2%[19] - The company's short-term borrowings increased to ¥120,270,672.57 in 2024 from ¥108,521,707.40 in 2023, reflecting a rise of about 15.9%[18] - Contract liabilities rose to ¥586,470,338.30 in 2024, compared to ¥472,836,870.03 in 2023, marking an increase of approximately 24.0%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥204,697,818.71, indicating a significant cash outflow[3] - Cash flow from operating activities for the year-to-date period is -307.52 million RMB, primarily due to payments for goods[9] - Cash flow from investing activities for the year-to-date period is -847.87 million RMB, mainly due to increased investment in the 65MW subcritical energy-saving and carbon-reduction comprehensive power generation project[9] - Cash flow from operating activities for the first nine months of 2024 was -204,697,818.71 CNY, a significant decline compared to a positive cash flow of 98,638,748.80 CNY in the first nine months of 2023[26] - The company reported operating cash inflows of 2,780,944,105.73 CNY for the first nine months of 2024, compared to 943,133,941.51 CNY in the same period last year, reflecting a significant increase[24] - Total cash outflows from operating activities for the first nine months of 2024 were 2,985,641,924.44 CNY, compared to 844,495,192.71 CNY in the previous year[26] - The net cash flow from financing activities in Q3 2024 was -223,044,147.02 CNY, compared to -133,909,273.63 CNY in Q3 2023[26] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period is 42,360[10] - The largest shareholder, Tianjin Jianlong Steel Industry Co., Ltd., holds 975,144,766 shares, accounting for 29.96% of total shares, with 477,705,900 shares pledged[11] - The second-largest shareholder, Wuhu Xinzhehai Industrial Investment Partnership, holds 476,135,811 shares, representing 14.63% of total shares, with 150,000,000 shares pledged[11] Research and Development - The company experienced a 93.54% decrease in R&D expenses year-to-date, indicating reduced investment in research and development[7] - Research and development expenses decreased to ¥12,488,643.05 in 2024 from ¥193,370,432.13 in 2023, indicating a reduction of approximately 93.5%[20] Operational Efficiency - The company aims to enhance operational efficiency and reduce costs, which has shown positive results in profit margins[7] - The company reported a significant increase in sales volume, contributing to the rise in operating revenue[7] - Total operating costs for the first three quarters of 2024 were ¥4,744,279,079.92, up from ¥4,196,508,929.86 in 2023, reflecting a year-on-year increase of 13.0%[20] - The company's net investment income for the first three quarters of 2024 was ¥96,039,233.84, a significant decrease from ¥685,521,857.13 in the previous year[20] Cash and Current Assets - Total current assets as of September 30, 2024, amount to 2,681,625,294.92 RMB, down from 3,289,389,591.06 RMB at the end of 2023[16] - Cash and cash equivalents decreased to 111,957,018.57 RMB from 709,952,508.59 RMB at the end of 2023[16] - Inventory as of September 30, 2024, is 1,351,222,959.53 RMB, a slight decrease from 1,379,201,604.67 RMB at the end of 2023[16]