GDMZH(SH:600382)2024-10-30 10:55Financial Performance - The company's operating revenue for Q3 2024 was ¥51,454,347.52, a decrease of 72.17% compared to the same period last year[1] - The net profit attributable to shareholders for Q3 2024 was -¥7,607,362.46, reflecting a decline of 111.28% year-on-year[1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥10,264,267.12, down 115.96% compared to the previous year[1] - Year-to-date operating revenue until the end of the reporting period was ¥268,376,544.89, a decrease of 45.44% year-on-year[1] - The basic earnings per share for Q3 2024 was -¥0.01, a decline of 111.11% compared to the same period last year[1] - The net profit attributable to shareholders of the listed company for the same period was 22.45 million RMB, down 89.20% year-on-year[13] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 40.76 million RMB, a decrease of 77.87% year-on-year[13] - The net profit for the third quarter of 2024 was CNY 23,102,529.35, a decrease from CNY 207,992,195.08 in the same period of 2023, representing a decline of approximately 88.9%[46] - The total profit for the third quarter of 2024 was CNY 52,501,426.25, compared to CNY 281,647,550.93 in the previous year, indicating a decrease of about 81.3%[46] - The operating profit for the third quarter of 2024 was CNY 74,932,041.02, down from CNY 281,991,773.79 in the same quarter of 2023, reflecting a decline of approximately 73.4%[46] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,297,819,713.52, down 12.73% from the previous year[2] - The equity attributable to shareholders decreased by 8.09% to ¥2,900,267,919.31 compared to the end of the previous year[2] - Total assets as of the end of Q3 2024 were CNY 3,297,819,713.52, a decrease from CNY 3,778,721,676.60 at the end of Q3 2023[44] - Total liabilities as of the end of Q3 2024 were CNY 367,811,663.38, down from CNY 592,182,926.55 year-over-year[43] - The company's total equity attributable to shareholders was CNY 2,900,267,919.31, compared to CNY 3,155,565,792.52 in the previous year[44] Production and Sales - The company's iron concentrate production, sales volume, and gross profit margin decreased by 49.08%, 82.36%, and 3 percentage points respectively year-on-year[5] - The production, sales volume, and gross profit margin of iron concentrate from Mingzhu Mining decreased by 48.20%, 56.64%, and 8.53 percentage points year-on-year, respectively[13] - The inventory of iron concentrate at the end of the reporting period was 59,600 tons, an increase of 210.42% year-on-year[13] - The average selling price of sand and gravel decreased by 21.12% year-on-year due to reduced demand from the real estate and infrastructure sectors[13] Cash Flow and Financial Position - The company's cash and cash equivalents stood at RMB 281,846,797.90 as of the latest reporting period[41] - The company's cash and cash equivalents decreased to CNY 1,342,315,010.45 from CNY 1,344,857,776.38[43] - The cash flow from operating activities for the first three quarters of 2024 was negative at CNY -30,141,023.25, compared to CNY -21,236,286.79 in the same period of 2023[49] - The cash flow from investing activities for the first three quarters of 2024 was CNY 265,013,937.31, significantly higher than CNY 29,828,875.13 in the previous year[49] - The total cash outflow from financing activities for the third quarter of 2024 was CNY 387,566,826.17, compared to CNY 438,760,380.00 in the previous year[50] Legal Proceedings and Debt Recovery - The company has initiated legal proceedings against Zhenghe Real Estate for repayment of principal amounting to ¥161.16 million, interest of ¥3.66 million, and overdue interest totaling approximately ¥52.55 million as of June 12, 2023[15] - The "Yijing Garden" real estate development project has a debt repayment agreement where the total amount owed is approximately ¥248.48 million, with part of the debt settled through the transfer of pre-sold properties[17] - The company has established a legal framework to ensure the enforcement of the repayment obligations under the debt agreements[15] - The company continues to monitor the financial status of its partners to mitigate risks associated with ongoing projects and debt recovery[20] - The company is actively pursuing legal action against Jiawang Real Estate for the registration of 70 parking space property certificates and payment of remaining funds as per the settlement agreement[21] - Guangzhou Valve has filed a lawsuit against Fuxing Trading for a total claim of RMB 641,636,558.68, including principal and interest, as of September 18, 2021[22] - The court ruled that Fuxing Trading must pay Guangzhou Valve RMB 554,823,729.80 in principal and RMB 36,120,104.16 in interest, with additional interest calculated at four times the one-year loan market quotation rate from March 23, 2021, until payment is completed[23] - The company has initiated legal proceedings against Qisheng Industrial due to non-compliance with the debt settlement agreement[37] Share Repurchase and Capital Changes - On July 31, 2024, the company approved the cancellation of 74,797,682 shares, reducing the total share capital from RMB 769,205,771 to RMB 694,408,089[38] - The company plans to repurchase shares worth between RMB 150 million and RMB 236.5 million, targeting a repurchase price not exceeding RMB 4.3 per share[39] - As of October 18, 2024, the company has repurchased 7,092,800 shares at prices ranging from RMB 3.41 to RMB 4.17, totaling RMB 26,859,997.06[40]