Hitech Develop(SH:600082)2024-10-30 10:38Financial Performance - The company's operating revenue for Q3 2024 was ¥5,990,446.62, a decrease of 95.66% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was -¥17,778,643.15, with a year-to-date net profit of -¥48,428,965.00[2]. - Total operating revenue for the first three quarters of 2024 was CNY 32,826,604.06, a significant decrease of 91.3% compared to CNY 376,345,778.45 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 was a loss of CNY 48,428,965.00, compared to a loss of CNY 35,469,767.45 in the same period of 2023, indicating a worsening of 36.5%[19]. - The company reported a net operating profit of CNY -48,322,423.49 for the first three quarters of 2024, compared to CNY -35,059,254.34 in 2023, representing a decline of 37.5%[17]. - The basic and diluted earnings per share for Q3 2024 were both -¥0.0275[3]. - The basic and diluted earnings per share for the first three quarters of 2024 were both CNY -0.0750, compared to CNY -0.0549 in the same period of 2023, reflecting a decline of 36.6%[19]. Cash Flow - The cash flow from operating activities for the year-to-date period was ¥167,952,665.02, representing an increase of 36.73% compared to the previous year[3]. - The net cash flow from operating activities for Q3 2024 was CNY 167,952,665.02, compared to CNY 122,838,165.60 in Q3 2023, representing an increase of approximately 36.7%[21]. - Total cash inflow from operating activities was CNY 565,673,335.48, while cash outflow was CNY 397,720,670.46, resulting in a net cash inflow of CNY 167,952,665.02[21]. - The cash flow from operating activities for the first three quarters of 2024 totaled CNY 1,084,862,095.30, compared to CNY 1,014,377,951.16 in the same period last year, showing an increase of approximately 6.9%[21]. - Cash flow from investing activities showed a net outflow of CNY 29,836,152.89, a significant decrease from a net inflow of CNY 404,202.43 in the previous year[22]. - Cash inflow from financing activities was CNY 280,000,000.00, while cash outflow totaled CNY 595,540,254.49, leading to a net cash outflow of CNY 315,540,254.49[22]. - The ending balance of cash and cash equivalents was CNY 62,117,459.51, down from CNY 289,674,873.63 in Q3 2023, indicating a decrease of approximately 78.5%[22]. - The company received CNY 280,000,000.00 from borrowings in Q3 2024, compared to CNY 417,499,999.00 in Q3 2023, reflecting a decrease of about 32.9%[22]. - Payments for purchasing goods and services amounted to CNY 257,452,717.46, compared to CNY 885,631,368.30 in the same period last year, indicating a reduction of approximately 70.1%[21]. - The company reported cash received from investment income of CNY 964,241.34, an increase from CNY 755,289.18 in Q3 2023, representing an increase of about 27.6%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,919,179,217.51, a decrease of 0.52% from the end of the previous year[3]. - The total number of common shareholders at the end of the reporting period is 34,224[10]. - The largest shareholder, Tianjin Haitai Holding Group Co., Ltd., holds 156,938,768 shares, accounting for 24.29% of the total shares[11]. - The company's total current assets as of September 30, 2024, amount to RMB 2,398,770,106.74, a decrease from RMB 2,442,037,545.23 at the end of 2023[13]. - Accounts receivable decreased to RMB 143,663,798.72 from RMB 168,884,883.09 year-over-year[13]. - Inventory increased to RMB 2,017,523,652.26 from RMB 1,976,888,023.58 year-over-year[13]. - Total current liabilities increased to RMB 1,094,927,457.89 from RMB 1,027,995,140.64 year-over-year[14]. - The company’s total liabilities as of the reporting date were CNY 1,201,159,994.89, an increase from CNY 1,164,049,525.86 in the previous year, reflecting a growth of 3.2%[15]. - The total equity attributable to shareholders was CNY 1,718,019,222.62, down from CNY 1,770,324,882.58 in 2023, indicating a decrease of 2.9%[15]. - The equity attributable to shareholders at the end of the reporting period was ¥1,718,019,222.62, down 2.95% from the previous year[3]. - Long-term payables decreased to RMB 52,752,547.08 from RMB 76,574,395.30 year-over-year[14]. Market Conditions - The significant decline in operating revenue was primarily due to a decrease in sales revenue from goods during the reporting period[7]. - The decrease in net profit was attributed to changes in real estate market demand, affecting sales revenue and profit margins of the company's park real estate projects[8]. - The year-to-date net profit attributable to shareholders was impacted by increased expenses compared to the previous year[8]. Accounting and Reporting - The company reported non-recurring gains of ¥25,603.75 for the current period[6]. - The company has adopted new accounting standards starting in 2024, which may impact future financial reporting[23]. - The company’s cash flow statement for the first three quarters of 2024 is unaudited, indicating a need for further financial scrutiny[20].