FOTON(SH:600166)2024-10-30 10:42Financial Performance - The company's operating revenue for Q3 2024 was approximately ¥11.79 billion, a decrease of 16.34% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was approximately ¥18.01 million, down 90.16% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -¥83.63 million, a decrease of 304.42% compared to the same period last year[2]. - Revenue for the first three quarters of 2024 was CNY 35.76 billion, down from CNY 42.94 billion in the same period of 2023, reflecting a decrease of 16.7%[18]. - Total operating revenue for Q3 2024 was 35,525,303,483.60 CNY, a decrease from 42,339,762,218.36 CNY in Q3 2023, representing a decline of approximately 16.5%[19]. - Net profit for Q3 2024 was 402,504,654.69 CNY, down from 754,507,501.91 CNY in Q3 2023, indicating a decrease of about 46.7%[19]. - Total comprehensive income for Q3 2024 was 330,631,972.03 CNY, down from 736,795,536.68 CNY in Q3 2023, a decline of about 55.2%[20]. - The total profit for Q3 2024 was 461,884,061.55 CNY, down from 850,367,872.14 CNY in Q3 2023, indicating a decrease of approximately 45.7%[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 152,090, with the largest shareholder, Beijing Automotive Group Co., Ltd., holding 3,233,860,362 shares, representing 40.40% of the total shares[8]. - The company has a total of 1,805,288,934 unrestricted circulating shares held by its largest shareholder, Beijing Automotive Group Co., Ltd.[11]. - The second largest shareholder, Beijing State-owned Capital Operation Management Co., Ltd., holds 296,626,400 shares, representing 3.71% of the total shares[8]. - The top ten unrestricted shareholders include several state-owned enterprises, with the largest being Beijing Automotive Group Co., Ltd.[11]. - The top ten shareholders collectively hold a significant portion of the company's shares, indicating a concentrated ownership structure[11]. - The total number of shares held by the top ten unrestricted shareholders is 2,392,000,000 shares, which is a significant portion of the total share capital[11]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥53.68 billion, an increase of 19.60% from the end of the previous year[3]. - As of September 30, 2024, current assets totaled CNY 28.34 billion, up from CNY 19.14 billion as of December 31, 2023, representing a 48.0% increase[15]. - Total liabilities increased to CNY 38.88 billion from CNY 30.48 billion, representing a 27.5% rise[17]. - The company's equity attributable to shareholders rose to CNY 14.63 billion from CNY 14.23 billion, a 2.8% increase[17]. - Short-term borrowings surged to CNY 1.21 billion from CNY 30 million, a substantial increase of 3,925.5%[16]. - The company reported a significant increase in long-term borrowings, which rose to CNY 4.21 billion from CNY 1.11 billion, a 279.5% increase[16]. Cash Flow - The net cash flow from operating activities for the first nine months of 2024 decreased by 134.84% compared to the same period last year[7]. - The company reported a net cash outflow from operating activities of -763,095,739.83 CNY for the first nine months of 2024, compared to a net inflow of 2,190,248,836.20 CNY in the same period of 2023[21]. - The net cash flow from financing activities was 4,337,890,275.36 CNY, compared to -598,787,054.32 CNY in the previous period, indicating a strong improvement[22]. - The cash received from borrowings was 5,664,895,889.80 CNY, a substantial increase compared to 559,500,000.00 CNY in the previous period[22]. - The net increase in cash and cash equivalents was 3,398,393,402.12 CNY, compared to 1,679,762,033.00 CNY in the previous year[22]. Operational Challenges - The company experienced a significant decline in net profit due to a 9.3% decrease in sales volume and changes in the overseas market structure[6]. - The company is focusing on cost reduction and efficiency improvement across the entire value chain to mitigate adverse impacts on profit[7]. - The company did not apply the new accounting standards for the first time in 2024[23]. Other Financial Metrics - The weighted average return on net assets was 0.12%, a decrease of 1.19 percentage points compared to the same period last year[3]. - The basic earnings per share for Q3 2024 were ¥0.0023, down 90.11% year-on-year[3]. - Basic earnings per share for Q3 2024 were 0.055 CNY, compared to 0.100 CNY in Q3 2023, representing a decrease of 45%[20]. - Research and development expenses increased slightly to 1,510,118,185.49 CNY in Q3 2024 from 1,489,100,629.79 CNY in Q3 2023, reflecting a growth of approximately 1.9%[19]. - The company reported a significant increase in other income to 401,149,471.77 CNY in Q3 2024, compared to 65,284,587.36 CNY in Q3 2023, marking a growth of over 515%[19].