Jinhong (000669)2024-10-30 11:11Revenue and Profitability - Revenue for Q3 2024 reached ¥262,778,978.46, an increase of 12.79% compared to the same period last year[2] - Net profit attributable to shareholders was -¥2,556,405.24, a decrease of 87.31% year-over-year[2] - Net profit excluding non-recurring items was -¥2,547,417.35, down 86.84% from the previous year[2] - The total revenue for the current period reached ¥951,852,877.71, an increase from ¥882,244,302.86 in the previous period, reflecting a growth of approximately 7.85%[13] - Commission income amounted to ¥940,377,918.40, compared to ¥912,706,588.79 in the prior period, indicating an increase of about 3.03%[13] - The net profit for the current period was a loss of ¥95,200,073.41, worsening from a loss of ¥34,290,459.75 in the previous period[14] - Operating profit for the current period was a loss of ¥110,921,840.99, compared to a loss of ¥23,840,141.50 in the prior period[14] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,543,118,281.79, a decrease of 6.08% from the end of the previous year[2] - Total current assets decreased to ¥253,852,138.78 from ¥386,634,291.22, reflecting a decline of about 34%[10] - Total assets decreased to ¥2,543,118,281.79 from ¥2,707,676,464.65, a reduction of approximately 6%[11] - Total liabilities decreased to ¥2,280,466,189.58 from ¥2,341,373,967.99, showing a decline of about 2.6%[11] - The company reported a significant increase in deferred income tax assets, rising to ¥91,424,120.57 from ¥62,534,541.61, an increase of approximately 46%[11] Shareholders and Equity - Shareholders' equity attributable to the parent company was ¥156,127,007.16, down 39.89% compared to the end of the previous year[2] - The total equity attributable to shareholders decreased to ¥156,127,007.16 from ¥259,756,585.05, a drop of approximately 40%[12] - As of the end of the reporting period, the total number of ordinary shareholders is 18,298[6] - The largest shareholder, Shanxi Kunjie Energy, holds 20.71% of the shares[6] Cash Flow and Financing - Cash flow from operating activities for the year-to-date was ¥148,682,268.07, a decline of 17.20% year-over-year[2] - Cash and cash equivalents increased to ¥47,095,501.17 from ¥38,431,008.55, representing a growth of approximately 22%[10] - The company reported a decrease in cash received from sales of goods and services, totaling ¥1,013,570,388.35, compared to ¥1,035,758,267.47 in the prior period[15] - The total cash outflow from operating activities was ¥883,180,644.82, slightly higher than ¥869,132,016.42 in the previous period[15] - Net cash flow from financing activities was negative at -$125.08 million, compared to -$136.96 million in the previous year[16] - Total cash inflow from financing activities was $443.65 million, down from $609.33 million in the same quarter last year[16] - Cash received from borrowings was $370.50 million, a decrease from $599.22 million year-over-year[16] Debt and Repayment - The company has repaid a total of 39,182,574.25 RMB of the convertible bond debt, including 22,541,560.00 RMB in principal and 16,641,014.25 RMB in interest[7] - The company has outstanding convertible bond debt of 6,951,689.79 RMB yet to be repaid[7] - The company has not met the repayment obligations for the overdue principal of 6,608.78 million RMB and interest of 1,943.70 million RMB for the "15 Jinhong Bond" as of June 30, 2023[8] - The company is actively communicating with creditors regarding subsequent debt repayment matters[8] - The company has established a special fund to repay the debts formed by the convertible bonds[7] - The company has a debt repayment plan that requires repayment of 16.5% of the original "15 Jinhong Bond" and "16 Zhongyou Jinhong MTN001" debt principal by November 30, 2023[8] - The company is facing challenges in raising the necessary funds for the upcoming debt repayments[8] Legal and Operational Issues - The company has initiated legal proceedings to regain control over its subsidiary, Shahe Jintong, due to ongoing disputes with minority shareholders[9] - The company is actively pursuing strategies to resolve internal control deficiencies related to its subsidiary[9] Other Income and Expenses - The company reported a significant increase in credit impairment losses, amounting to -¥136,135,767.61, a rise of 2925.90%[5] - Investment income increased by 61.26% to ¥8,084,694.59, primarily due to profits from equity method accounting[5] - The company recorded a substantial increase in other operating income, which rose by 1659.47% to ¥271,424.24, mainly from increased penalty income[5] - The company incurred interest expenses of ¥51,087,539.56, up from ¥43,552,749.28 in the previous period, reflecting an increase of approximately 12.5%[13] Audit Status - The company’s third-quarter report was not audited[16]