WXSJ(SH:603185)2024-10-30 10:55Financial Performance - The company's operating revenue for Q3 2024 decreased by 44.92% year-on-year, totaling approximately CNY 5.34 billion[2] - The net profit attributable to shareholders for Q3 2024 was a loss of approximately CNY 1.63 billion, representing a decline of 256.96% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was a loss of approximately CNY 1.45 billion, down 267.64% year-on-year[2] - The basic earnings per share for Q3 2024 was -CNY 2.443, a decrease of 175.88% compared to the same period last year[3] - Total operating revenue for the first three quarters of 2024 was CNY 5,335,773,889.75, a decrease of 44.5% compared to CNY 9,577,856,342.28 in the same period of 2023[19] - The net profit for the first three quarters of 2024 was a loss of CNY 1,629,645,683.34, compared to a profit of CNY 1,318,150,924.33 in the same period of 2023[20] - The total comprehensive income for the first three quarters of 2024 was also a loss of CNY 1,629,645,683.34, reflecting the same trend as the net profit[21] Assets and Liabilities - The total assets at the end of Q3 2024 were approximately CNY 32.12 billion, an increase of 9.31% from the end of the previous year[3] - The equity attributable to shareholders at the end of Q3 2024 was approximately CNY 12.95 billion, up 7.74% year-on-year[3] - The company's total liabilities increased to CNY 14.27 billion, compared to CNY 12.86 billion at the end of 2023, reflecting a growth of about 10.9%[16] - The company's total liabilities increased to CNY 19,167,130,953.72 in Q3 2024 from CNY 17,361,076,202.02 in Q3 2023, representing an increase of 10.4%[18] Cash Flow - The company reported a net cash flow from operating activities of approximately CNY 100.83 million, a decrease of 67.20% year-on-year[2] - In the first three quarters of 2024, the company's cash inflow from operating activities totaled ¥6,389,047,329.04, a decrease of 41.5% compared to ¥10,917,171,117.99 in the same period of 2023[22] - The net cash flow from operating activities for the first three quarters of 2024 was ¥100,828,062.65, down 67.2% from ¥307,411,037.74 in 2023[23] - The net cash flow from investment activities was -¥3,473,941,503.38, worsening from -¥692,701,685.54 in the same period last year[23] - The net cash flow from financing activities was ¥2,969,065,413.54, a turnaround from -¥548,239,151.14 in the previous year[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,197[7] - The largest shareholder, Yang Jianliang, holds 29.12% of the shares, totaling approximately 197.72 million shares[7] Operational Changes - The company attributed the decline in revenue and net profit to structural adjustments in the photovoltaic industry and pressure on product prices[5] - The company has not disclosed any new product developments or market expansion strategies in the current report[11] - The company implemented a new accounting policy effective January 1, 2024, which adjusted the operating costs and sales expenses, impacting the financial statements[24] - The adjusted operating costs for the first three quarters of 2024 were ¥5,709,173,309.72, reflecting a minor increase due to the new accounting policy[24] Tax and Expenses - The company's tax expenses for the first three quarters of 2024 were CNY -390,167,986.17, compared to CNY 112,420,222.80 in the same period of 2023, showing a significant shift in tax liabilities[20] - The company reported a significant decrease in tax payments, with total tax payments of ¥102,086,190.37 in 2024 compared to ¥422,194,531.76 in 2023, a reduction of 75.8%[23] - Research and development expenses for the first three quarters of 2024 were CNY 363,539,813.73, a decrease of 24.4% from CNY 480,536,791.18 in the same period of 2023[19] Asset Composition - Current assets rose to CNY 14.28 billion, compared to CNY 11.89 billion at the end of 2023, indicating an increase of about 20%[16] - Cash and cash equivalents amounted to CNY 6.26 billion, slightly up from CNY 6.18 billion, reflecting a growth of 1.3%[15] - Trade receivables increased significantly to CNY 839.56 million from CNY 376.26 million, marking a growth of approximately 123%[15] - Inventory levels rose to CNY 2.13 billion, compared to CNY 2.06 billion, showing an increase of about 3.9%[15] - Short-term borrowings surged to CNY 1.12 billion, up from CNY 600.35 million, representing an increase of approximately 86.8%[16] - The company reported a significant increase in long-term borrowings, which rose to CNY 1,015,500,000.00 from CNY 844,000,000.00, marking a growth of 20.3%[18] - The non-current assets decreased slightly to CNY 17.84 billion from CNY 17.49 billion, indicating a decline of about 2%[16] - The company reported a significant increase in contract liabilities to CNY 570.79 million, up from CNY 515.48 million, which is an increase of approximately 10.7%[16]