HIKING(SH:600735)2024-10-30 10:46Financial Performance - The company's operating revenue for Q3 2024 was ¥414,967,564.68, a decrease of 32.60% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥20,930,963.60, down 32.85% year-on-year[2]. - The basic earnings per share for Q3 2024 was ¥0.0488, reflecting a decline of 32.87% compared to the previous year[3]. - The net profit for the year-to-date was ¥42,084,546.29, down 31.91% compared to the same period last year[2]. - Total operating revenue for the first three quarters of 2024 was CNY 1,305,833,954.67, a decrease of 24.5% compared to CNY 1,729,925,663.26 in the same period of 2023[15]. - Net profit for the third quarter of 2024 was CNY 87,444,277.16, a decline of 25.0% from CNY 116,456,071.23 in the same quarter of 2023[16]. - Basic earnings per share for Q3 2024 was CNY 0.0981, down from CNY 0.1441 in Q3 2023, representing a decrease of 31.9%[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,222,741,794.03, a decrease of 1.79% from the end of the previous year[3]. - The company's current assets totaled CNY 1,541,202,481.27, slightly down from CNY 1,564,816,408.41, indicating a decrease of about 1.51%[12]. - Total liabilities stood at CNY 1,541,202,481.27, with current liabilities including accounts payable increasing to CNY 133,413,020.34 from CNY 111,583,359.73, an increase of approximately 19.56%[12]. - The total liabilities decreased to CNY 666,970,384.23 in Q3 2024 from CNY 747,149,032.45 in Q3 2023, reflecting a reduction of 10.7%[16]. - The total equity attributable to shareholders of the parent company increased to CNY 1,375,959,413.45 in Q3 2024 from CNY 1,338,548,895.33 in Q3 2023, an increase of 2.5%[14]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥120,456,716.80, an increase of 7.69% compared to the same period last year[2]. - The company's cash flow from operating activities showed a significant change, with a net cash outflow reported in the current period[16]. - In the first three quarters of 2024, the cash inflow from operating activities totaled CNY 1,494,827,363.38, a decrease of 20.1% compared to CNY 1,872,674,882.82 in the same period of 2023[19]. - The net cash flow from operating activities for the first three quarters of 2024 was CNY 1,374,370,646.59, down from CNY 1,760,815,829.11 in 2023, reflecting a decline of 22%[19]. - The cash balance at the end of the third quarter of 2024 was CNY 634,681,290.44, an increase from CNY 514,235,944.47 at the end of the third quarter of 2023[20]. Operational Challenges - The company noted intensified competition in the second-hand car and e-commerce sectors, contributing to the decline in revenue and profit[7]. - The company experienced a 42.65% decline in other income, attributed to reduced government subsidies received by subsidiaries[7]. - The company has initiated strategic measures to improve operational efficiency and reduce costs in response to the declining revenue trend[16]. - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[16]. Changes in Financial Metrics - The weighted average return on equity for Q3 2024 was 1.5233%, a decrease of 0.8052 percentage points year-on-year[3]. - The company reported a financial expense of CNY 6,452,196.36 in Q3 2024, compared to a financial income of CNY 5,577,234.07 in Q3 2023[15]. - The company reported a significant decrease in accounts receivable by 30.52% due to the recovery of payments by subsidiaries[6]. - Accounts receivable decreased to CNY 142,069,276.29 from CNY 204,482,246.62, showing a significant reduction of about 30.49%[11]. - The company reported a decrease in contract liabilities to CNY 35,721,067.65 from CNY 90,525,199.15, a reduction of about 60.54%[12].