BAOSHENG SCI(SH:600973)2024-10-30 09:51Financial Performance - Total revenue for Q3 2024 reached ¥13,091,834,895.12, an increase of 14.85% compared to the same period last year[2] - Net profit attributable to shareholders was ¥6,329,410.02, a decrease of 80.50% year-over-year[2] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,696,377.51, down 76.94% from the previous year[2] - Basic earnings per share for Q3 2024 was ¥0.004, a decline of 82.96% compared to the same period last year[4] - The company reported a net profit of CNY 13,628,571.10 for the third quarter of 2024, down from CNY 108,548,704.72 in the third quarter of 2023[19] - Net profit attributable to shareholders of the parent company for the first three quarters of 2024 was CNY 24,987,166.73, compared to CNY 92,534,338.20 in the same period of 2023, indicating a significant decrease[19] - The company’s total comprehensive income for the third quarter of 2024 was CNY 50,764,186.13, compared to CNY 14,182,432.12 in the same quarter of 2023[19] Assets and Liabilities - Total assets as of the end of the reporting period amounted to ¥24,290,160,359.00, representing an increase of 8.47% from the end of the previous year[4] - The total liabilities of the company as of the end of the third quarter of 2024 were CNY 19,271,595,444.53, up from CNY 17,420,675,458.98 at the end of the third quarter of 2023[17] - The total equity attributable to shareholders was ¥3,824,629,085.96, reflecting a slight increase of 1.90% from the previous year[4] - The total equity attributable to shareholders of the parent company was CNY 3,824,629,085.96, compared to CNY 3,753,309,229.35 in the same period of 2023, reflecting a slight increase[17] Cash Flow - Cash flow from operating activities was not applicable for the current period, with a net cash outflow of ¥814,151,840.44 year-to-date[2] - In the first three quarters of 2024, the cash inflow from operating activities was approximately CNY 36.35 billion, compared to CNY 34.73 billion in the same period of 2023, representing an increase of about 4.67%[20] - The net cash flow from operating activities for the first three quarters of 2024 was approximately -CNY 814.15 million, compared to -CNY 704.46 million in the same period of 2023, indicating a decline in cash flow[20] - The cash inflow from investment activities was approximately CNY 600.86 million in the first three quarters of 2024, compared to CNY 6.48 million in the same period of 2023, showing a significant increase[22] - The net cash flow from financing activities in the first three quarters of 2024 was approximately CNY 1.37 billion, compared to CNY 1.02 billion in the same period of 2023, reflecting an increase of about 34.5%[22] - The company reported a net increase in cash and cash equivalents of approximately CNY 929.06 million in the first three quarters of 2024, compared to a decrease of CNY 92.01 million in the same period of 2023[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 43,839[9] - The largest shareholder, Baosheng Group Co., Ltd., holds 437,406,433 shares, accounting for 31.90% of total shares[9] Current Assets and Liabilities - As of September 30, 2024, total current assets amounted to approximately RMB 17.25 billion, an increase from RMB 15.14 billion at the end of 2023[13] - Total current liabilities increased to approximately RMB 15.32 billion from RMB 14.05 billion[14] - Cash and cash equivalents increased to RMB 4.06 billion from RMB 3.76 billion year-over-year[13] - Accounts receivable rose significantly to RMB 8.02 billion, up from RMB 5.73 billion in the previous year[13] - Inventory decreased to RMB 3.04 billion from RMB 3.43 billion year-over-year[13] - Long-term borrowings rose to RMB 3.56 billion, up from RMB 2.99 billion year-over-year[14] Operating Costs and Expenses - Total operating revenue for the first three quarters of 2024 reached CNY 35,443,862,897.80, an increase of 5.36% compared to CNY 33,640,629,474.61 in the same period of 2023[17] - Total operating costs for the first three quarters of 2024 were CNY 35,407,737,940.89, up from CNY 33,456,815,195.00 in 2023, reflecting a growth of 5.80%[17] - Research and development expenses for the first three quarters of 2024 amounted to CNY 555,397,060.52, compared to CNY 511,774,430.57 in the same period of 2023, showing an increase[17] - The company’s financial expenses for the first three quarters of 2024 were CNY 337,491,707.07, compared to CNY 364,615,375.86 in the same period of 2023, indicating a decrease[17] Other Financial Metrics - The company reported a significant decline in gross profit margin due to lower order margins compared to the previous year[7] - Government subsidies recognized in the current period amounted to ¥7,904,146.38, contributing to the overall financial performance[5] - The weighted average return on equity was 0.16%, a decrease of 0.71 percentage points year-over-year[4] - The basic earnings per share for the third quarter of 2024 were CNY 0.018, down from CNY 0.067 in the same quarter of 2023[19] - The cash outflow for purchasing goods and services in the first three quarters of 2024 was approximately CNY 35.29 billion, compared to CNY 33.29 billion in the same period of 2023, representing an increase of about 6%[20] - The cash outflow for employee compensation in the first three quarters of 2024 was approximately CNY 731.12 million, slightly up from CNY 721.98 million in the same period of 2023, indicating a marginal increase[20] - The cash inflow from the disposal of fixed assets and other long-term assets was CNY 18.03 million in the first three quarters of 2024, compared to CNY 6.46 million in the same period of 2023, indicating a significant increase[21]