MIHF(SH:600337)2024-10-30 11:37Financial Performance - The company's revenue for Q3 2024 was ¥839,701,429.21, representing a decrease of 20.52% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥164,665,637.96, with a year-to-date loss of -¥440,355,093.20[3]. - Total operating revenue for Q3 2024 was approximately ¥2.47 billion, a decrease of 26.5% compared to ¥3.37 billion in Q3 2023[16]. - Net loss attributable to shareholders for Q3 2024 was approximately ¥440.36 million, compared to a loss of ¥266.47 million in Q3 2023, representing a 65% increase in loss[18]. - The net profit margin for Q3 2024 was -17.7%, compared to -7.9% in Q3 2023, indicating a worsening profitability situation[18]. - The basic earnings per share for the quarter was -¥0.11, with a year-to-date figure of -¥0.30[3]. - The basic earnings per share for Q3 2024 were -¥0.30, compared to -¥0.18 in Q3 2023, reflecting a decline in shareholder value[19]. Cash Flow - The net cash flow from operating activities for the quarter was ¥32,430,773.68, a significant decline of 84.29% year-to-date[6]. - Cash flow from operating activities for the first nine months of 2024 was approximately ¥2.71 billion, down 15.5% from ¥3.20 billion in the same period of 2023[19]. - The company reported a net cash flow from operating activities of approximately ¥34.79 million for Q3 2024, a significant decrease from ¥221.49 million in Q3 2023[20]. - The net cash flow from investment activities was $156,662,093.59, a significant improvement from a negative cash flow of $100,309,606.15 in the previous period[21]. - Cash inflow from financing activities totaled $2,115,801,257.72, down from $2,302,418,753.06 year-over-year[21]. - The net cash flow from financing activities was -$528,085,936.95, worsening from -$241,221,979.70 in the prior period[21]. - The net decrease in cash and cash equivalents was -$334,154,153.46, compared to -$116,603,182.04 in the previous period[21]. - The ending balance of cash and cash equivalents was $349,920,473.95, down from $628,298,919.96 at the end of the previous period[21]. Assets and Liabilities - Total assets at the end of the quarter were ¥8,486,234,008.04, down 12.17% from the previous year-end[4]. - The equity attributable to shareholders decreased by 14.49% to ¥3,153,905,505.04 compared to the previous year-end[4]. - The company's current assets totaled ¥2,966,374,777.74, down 17.4% from ¥3,591,587,459.97 in the previous period[12]. - Cash and cash equivalents decreased significantly from ¥775,876,162.87 to ¥362,642,214.34, representing a decline of about 53.3%[11][12]. - The total liabilities decreased to ¥5,313,955,586.31, down 10.8% from ¥5,957,456,998.09[14]. - The company's total equity decreased to ¥3,172,278,421.73 from ¥3,704,431,968.75, indicating a decline of approximately 14.3%[14]. - The total non-current assets were reported at ¥5,519,859,230.30, down from ¥6,070,301,506.87, indicating a decrease of approximately 9.1%[12][14]. Shareholder Information - The company had a total of 27,430 common shareholders at the end of the reporting period[7]. - Major shareholder Meike Investment Group Co., Ltd. held 33.99% of the company's shares, totaling 488,449,350 shares[8]. Other Financial Metrics - The weighted average return on equity was -5.07%, a decrease of 0.59 percentage points from the previous year[3]. - The company reported non-recurring gains and losses totaling ¥701,648.94 for the quarter[5]. - Research and development expenses for Q3 2024 were approximately ¥73 million, down 15% from ¥86 million in Q3 2023[16]. - The company recorded an investment income of approximately ¥91.87 million in Q3 2024, compared to a loss of ¥6.31 million in Q3 2023[16]. - Other comprehensive income after tax for Q3 2024 was approximately -¥9.46 million, compared to ¥32.39 million in Q3 2023, indicating a negative shift in overall financial health[18]. - The company reported a significant decrease in retained earnings, which fell from ¥1,574,999,050.97 to ¥1,134,643,957.77, a decline of about 28%[14]. Inventory and Borrowings - The inventory level as of September 30, 2024, was ¥2,052,736,880.87, a decrease from ¥2,153,090,569.70, reflecting a reduction of about 4.7%[11][12]. - Short-term borrowings decreased from ¥1,162,951,440.27 to ¥821,724,661.45, a reduction of approximately 29.3%[13]. - The company's accounts receivable decreased from ¥306,681,368.88 to ¥241,764,189.47, a decline of about 21.2%[11][12]. Accounting Standards - The company is set to implement new accounting standards starting in 2024, which may affect the financial statements[21].