金龙机电(300032) - 2018 Q3 - 季度财报

Financial Performance - Operating revenue for the current period was ¥506,058,832.29, a decrease of 46.01% year-on-year[8] - Net profit attributable to shareholders was -¥1,103,986,906.77, a decrease of 1,530.20% year-on-year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,137,367,089.10, a decrease of 1,824.37% year-on-year[8] - Basic earnings per share were -¥1.3745, a decrease of 1,530.28% year-on-year[8] - The company reported a net profit attributable to shareholders of -1,554.446 million RMB for the first three quarters of 2018, mainly due to decreased customer orders and increased production management costs[26] - Net loss for Q3 2018 was ¥1,192,653,274.25, compared to a net profit of ¥82,515,750.06 in Q3 2017, reflecting a substantial decline in profitability[46] - The company reported an asset impairment loss of ¥1,125,632,369.61, compared to a gain of ¥2,549,125.74 in the previous year[46] - The net profit for the current period is a loss of CNY 139,519,794.26, compared to a profit of CNY 28,932,961.09 in the previous period, indicating a significant decline[50] - The total comprehensive income for the current period is CNY -1,184,901,608.80, compared to CNY 81,868,509.68 in the previous period[51] - The company’s total comprehensive income for the year-to-date period is CNY -1,658,625,023.99, compared to CNY 313,448,020.76 in the previous year[54] Asset and Equity Changes - Total assets decreased by 49.59% to ¥3,558,195,877.65 compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 38.32% to ¥2,493,353,709.71 compared to the end of the previous year[8] - The company's total equity attributable to shareholders decreased to ¥2,493,353,709.71 from ¥4,042,198,586.68, a decline of about 38%[42] - The total current assets decreased from CNY 4.17 billion at the beginning of the period to CNY 1.84 billion at the end of the period[37] - The company's total assets decreased from CNY 7.06 billion to CNY 3.56 billion, indicating a significant reduction in asset base[38] Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date was ¥98,725,841.97, an increase of 159.93% year-on-year[8] - The company's cash and cash equivalents decreased by 90.20% compared to the beginning of the period, primarily due to bank deposits being used to repay short-term bank loans[17] - The company's cash and cash equivalents decreased from CNY 1.54 billion to CNY 150.73 million during the reporting period[37] - The company's cash and cash equivalents dropped to ¥73,027,742.51 from ¥1,046,623,683.86, a decline of approximately 93%[41] - The net cash flow from operating activities for Q3 2018 was CNY 24,416,173.16, a decrease of 80.7% compared to CNY 126,563,893.76 in Q3 2017[65] - The total cash and cash equivalents at the end of the period was CNY 6,691,742.51, down from CNY 1,016,764,441.21 in the previous year[66] Operational Efficiency and Cost Management - The company plans to consolidate production bases in Huai Bei, Dongguan, and Hangzhou to reduce management and labor costs[26] - The company has consolidated its display business and eliminated some inefficient production capacity to improve operational efficiency[27] - Total operating costs increased significantly to ¥1,742,053,529.33, up from ¥851,160,721.48, indicating a rise of about 104% year-over-year[44] - Operating costs for the current period are CNY 154,505,947.72, down from CNY 184,708,698.13, reflecting a reduction of 16.4%[49] Impairment and Loss Provisions - The goodwill decreased by 97.98% due to losses from subsidiaries, leading to impairment provisions[18] - The company has recognized an impairment provision of CNY 712.74 million for fixed assets, inventory, and accounts receivable based on prudent principles[27] - The company assessed goodwill for impairment and recognized a provision of CNY 583.25 million due to the underperformance of subsidiaries during the reporting period[27] - The company has recorded an impairment provision of CNY 87.55 million for long-term equity investments in the bankrupt subsidiary BLOKS and CNY 27.30 million for Suzhou Jingxi due to operational difficulties[28] - The company reported an asset impairment loss of CNY 137,200,233.24, a substantial increase from CNY 3,951,994.66 in the previous period[50] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,581[12] - The largest shareholder, Jinlong Holding Group Co., Ltd., held 24.95% of the shares, amounting to 200,415,206 shares[12] Market Conditions and Competition - The company faced increased competition and rising raw material costs, leading to a decline in product profit margins[26] - The company's touch screen display business has been operating at a loss due to intense competition in the consumer electronics market and ineffective competitiveness since entering the industry, leading to significant losses during the reporting period[27]