珠江钢琴(002678) - 2024 Q3 - 季度财报

Financial Performance - Revenue for Q3 2024 was ¥162,879,575.14, a decrease of 39.11% compared to the same period last year[2] - Net profit attributable to shareholders was -¥64,682,567.34, representing a decline of 244.17% year-over-year[2] - The company reported a 41.60% decrease in revenue for the first nine months of 2024, totaling ¥526,957,545.04, attributed to declining piano demand[6] - Operating profit, total profit, net profit, net profit attributable to the parent company, and minority shareholders' profit all saw substantial year-on-year declines of 1571.41%, 2617.23%, 3193.58%, 2230.45%, and 385.54% respectively, primarily due to a decline in demand in the musical instrument market and increased fixed costs[8] - The net profit for Q3 2024 was a loss of ¥146,409,760.94, compared to a profit of ¥4,732,702.57 in Q3 2023[16] - The net profit attributable to the parent company for Q3 2024 was -137,949,485.53 CNY, compared to a profit of 6,475,136.29 CNY in the same period last year, indicating a significant decline[17] - The total comprehensive income for Q3 2024 was -148,549,853.14 CNY, down from 8,019,778.91 CNY year-over-year[17] - The basic and diluted earnings per share for Q3 2024 were both -0.10 CNY, compared to 0.01 CNY in the previous year[17] Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥297,957,160.77, an increase of 9.68% compared to the previous year[2] - Net cash flow from operating activities increased by 9.68% year-on-year, mainly due to a significant reduction in matured notes payable compared to the same period last year[8] - Cash inflows from operating activities totaled 440,150,307.32 CNY, a decrease from 975,756,379.85 CNY in the prior year[18] - Cash outflows from operating activities amounted to 738,107,468.09 CNY, down from 1,305,644,423.89 CNY year-over-year[19] - The net cash flow from operating activities for Q3 2024 was -297,957,160.77 CNY, compared to -329,888,044.04 CNY in the same period last year[19] - Cash flow from investing activities generated a net inflow of 232,902,997.93 CNY, a decrease from 590,639,899.78 CNY in the previous year[19] - The net cash flow from financing activities was -185,672,342.64 CNY, compared to -210,020,036.12 CNY in the same period last year[19] Assets and Liabilities - Total assets as of September 30, 2024, were ¥4,105,859,292.24, down 9.89% from the end of the previous year[2] - Total liabilities decreased to ¥528,815,061.89 from ¥828,473,080.33, a reduction of 36.2%[14] - The company's equity attributable to shareholders decreased to ¥3,557,926,063.14 from ¥3,700,150,133.49, a decline of 3.8%[15] Accounts Receivable and Inventory - Accounts receivable increased by 292.65% to ¥157,781,425.33, primarily due to seasonal sales collection cycles[5] - Accounts receivable increased significantly to ¥157,781,425.33 from ¥40,183,953.55, representing a growth of 292.5%[14] - Inventory decreased slightly to ¥1,250,879,401.42 from ¥1,266,623,207.66, a reduction of 1.2%[14] Research and Development - R&D expenses for the year-to-date period were ¥32,933,757.23, a decrease of 40.50% year-over-year due to reduced project investments[7] - Research and development expenses for Q3 2024 were ¥32,933,757.23, down 40.4% from ¥55,352,090.83 in the previous year[16] Financial Investments - Investment income decreased by 41.89% year-on-year to 3,848,007.78 RMB, attributed to a reduction in redeemed financial management income[8] - The fair value change income was -9,935,092.36 RMB, a significant decrease of 231.17% year-on-year, due to losses recognized on other non-current financial assets[8] - Financial expenses for the first nine months of 2024 amounted to -11,329,652.46 RMB, an increase of 63.77% year-on-year, primarily due to a decrease in interest income from deposits[8] - Other income for the same period was 8,490,426.66 RMB, reflecting a year-on-year increase of 102.42, mainly due to an increase in deferred income recognized as other income[8] Shareholder Information - The company’s major shareholders include Guangzhou Urban Construction Investment Group Co., holding 50.94% of shares, and Guangzhou Industrial Investment Holdings Group Co., holding 16.38%[9] - The company invested 90 million RMB in establishing the Guangzhou State-owned Assets Industry Development Equity Investment Fund Partnership, which is set to extend its duration until June 8, 2029[11]