Elegant(SH:603221)2025-10-27 08:20Financial Performance - The company's operating revenue for the third quarter was CNY 306,145,388.99, a decrease of 2.73% compared to the same period last year[4]. - The total profit for the quarter was a loss of CNY 12,217,741.57, representing a decline of 154.42% year-on-year[4]. - The net profit attributable to shareholders was a loss of CNY 6,542,704.41, down 130.77% from the previous year[4]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 7,602,924.11, a decrease of 136.84% compared to the same period last year[4]. - The basic and diluted earnings per share were both CNY -0.03, reflecting a decline of 137.50% year-on-year[5]. - Total operating revenue for the first three quarters of 2025 was CNY 821,836,204.70, a decrease of 11.93% compared to CNY 933,245,014.81 in the same period of 2024[20]. - Net profit for the first three quarters of 2025 was CNY 7,986,593.62, a significant decrease of 90.56% compared to CNY 84,392,381.88 in the same period of 2024[21]. - The company reported a total comprehensive income of CNY 28,899,529.14 for the first three quarters of 2025, down from CNY 77,406,458.86 in the previous year[21]. Cash Flow and Assets - The cash flow from operating activities for the year-to-date was CNY 80,153,231.18, down 58.83% compared to the previous year[5]. - The net cash flow from operating activities for the first three quarters of 2025 was CNY 80,153,231.18, down 58.83% from CNY 194,697,091.28 in the previous year[23]. - The company's total current asset of RMB 979,284,280.53 as of September 30, 2025, down from RMB 1,071,191,898.27 on December 31, 2024, representing a decrease of approximately 8.6%[15]. - The cash and cash equivalents decreased to RMB 432,773,089.58 as of September 30, 2025, from RMB 533,289,339.21 at the end of 2024, representing a decline of approximately 18.8%[15]. - The company received CNY 911,386,278.83 in cash from sales of goods and services in the first three quarters of 2025, an increase of 1.39% from CNY 896,138,321.13 in the same period of 2024[23]. - The net increase in cash and cash equivalents was -$101.90 million, compared to a positive increase of $94.81 million previously, leading to an ending cash balance of $412.31 million[24]. Liabilities and Equity - Total assets at the end of the reporting period were CNY 2,516,615,729.11, a decrease of 0.83% from the end of the previous year[5]. - The equity attributable to shareholders increased to CNY 1,606,804,747.22, up 0.97% from the previous year[5]. - Total liabilities decreased to RMB 805,467,298.54 as of September 30, 2025, from RMB 827,257,210.14 at the end of 2024, indicating a reduction of approximately 2.1%[17]. - The company's total equity increased slightly to RMB 1,711,148,430.57 as of September 30, 2025, compared to RMB 1,710,511,355.60 at the end of 2024, showing a marginal growth of about 0.04%[17]. - The company’s total liabilities to equity ratio stands at approximately 0.47 as of September 30, 2025, indicating a relatively stable financial structure[17]. Operational Efficiency - The decline in profit was primarily due to decreased revenue from domestic factories and increased labor and manufacturing costs[9]. - The company reported a significant increase in expenses during the establishment phase of its Mexican operations, contributing to the overall losses[10]. - The company is actively enhancing the capacity utilization rates of its factories in the United States and Mexico, indicating a strategic focus on operational efficiency[14]. - The company has a plan to continue improving production capacity in its U.S. and Mexico facilities, which may lead to increased output and efficiency in the future[14]. Expenses and Investments - Total operating costs for the first three quarters of 2025 were CNY 825,435,805.75, a slight decrease of 1.99% from CNY 833,752,523.38 in the previous year[20]. - Research and development expenses for the first three quarters of 2025 were CNY 17,620,586.47, a decrease of 11.96% compared to CNY 20,018,854.08 in the same period of 2024[20]. - The company recorded a financial expense of CNY -9,438,466.65 in the first three quarters of 2025, compared to CNY 2,784,172.89 in the previous year[20]. - Cash outflow from investment activities totaled $82.82 million, compared to $134.12 million in the previous period, resulting in a net cash flow from investment activities of -$82.08 million, down from -$133.63 million[24]. - Cash inflow from financing activities was $201.25 million, a decrease from $270.49 million, with net cash flow from financing activities at -$99.86 million, contrasting with a positive $28.82 million in the prior period[24]. Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[25].