Financial Performance - The company's operating revenue for Q3 2024 was ¥147,057,287.52, a decrease of 53.41% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥7,252,017.99, down 92.73% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥4,194,845.94, a decline of 95.72% compared to the previous year[2]. - Basic earnings per share for Q3 2024 were ¥0.03, a decrease of 92.31% year-on-year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 778,153,731.96, a decrease of 34.6% compared to CNY 1,191,850,115.73 in the same period of 2023[18]. - Net profit for the first three quarters of 2024 was CNY 181,726,835.22, a decline of 57.6% compared to CNY 428,910,549.84 in the same period of 2023[20]. - Basic earnings per share for the first three quarters of 2024 were CNY 0.68, down from CNY 1.66 in the same period of 2023[21]. Cash Flow - The cash flow from operating activities for the year-to-date period decreased by 60.79% to ¥126,121,376.14[2]. - Cash flow from operating activities for the first three quarters of 2024 was CNY 682,594,510.53, a decrease from CNY 916,209,914.64 in the same period of 2023[22]. - The net cash flow from operating activities was CNY 126,121,376.14, a decrease of 60.8% compared to CNY 321,683,689.48 in the previous period[23]. - Cash inflow from investment activities totaled CNY 672,279,392.16, significantly up from CNY 346,364,732.26 in the previous period[23]. - The net cash flow from investment activities was -CNY 1,414,503,309.49, compared to CNY 22,774,932.19 in the previous period, indicating a substantial increase in investment outflows[23]. - Cash inflow from financing activities reached CNY 1,567,794,011.32, compared to CNY 82,000,000.00 in the previous period[24]. - The net cash flow from financing activities was CNY 1,567,160,889.79, a significant increase from -CNY 18,037,977.41 in the previous period[24]. - The ending balance of cash and cash equivalents was CNY 1,533,803,227.07, up from CNY 987,765,613.40 in the previous period[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,494,179,251.04, an increase of 60.82% compared to the end of the previous year[3]. - Shareholders' equity attributable to the parent company increased by 65.60% to ¥4,031,211,704.04[3]. - As of September 30, 2024, the total assets of Zhejiang Wehua New Materials Co., Ltd. reached approximately CNY 4.49 billion, a significant increase from CNY 2.79 billion as of December 31, 2023, representing a growth of 60.9%[14][16]. - The company's current assets totaled approximately CNY 3.33 billion, up from CNY 1.85 billion at the end of 2023, indicating an increase of 80.1%[15]. - The total liabilities of the company were approximately CNY 174.25 million, down from CNY 188.85 million, indicating a decrease of 7.7%[16]. - Total liabilities as of the end of the third quarter of 2024 were CNY 343,685,974.76, compared to CNY 238,970,563.14 at the end of the same period in 2023[20]. - Total equity attributable to shareholders of the parent company was CNY 4,031,211,704.04, an increase from CNY 2,434,247,329.35 in the previous year[20]. Operational Insights - The decline in revenue was primarily due to inventory destocking in the downstream pesticide industry and weakened overall product demand[7]. - The company issued new shares in August 2024, which contributed to the increase in total assets and shareholders' equity[9]. - The company reported non-recurring gains of ¥3,057,172.05 for the current period, primarily from government subsidies and other non-operating income[6]. - Research and development expenses for the first three quarters of 2024 were CNY 31,724,766.86, down from CNY 44,322,461.93 in the same period of 2023[20]. - The company plans to focus on market expansion and new product development in the upcoming quarters[20]. Management Changes - The company appointed Mr. Pan Qiangbiao as Vice Chairman and Mr. Xia Weiping as General Manager, effective September 19, 2024[13].
巍华新材(603310) - 2024 Q3 - 季度财报