SMEG(SH:600689)2025-10-30 08:45Revenue and Profit - Q3 2025 revenue decreased by 16.92% year-on-year to CNY 292,529,401.04, while year-to-date revenue increased by 17.55% to CNY 955,940,870.11[3] - Total profit for Q3 2025 fell by 37.49% to CNY 4,014,635.35, and year-to-date profit decreased by 36.19% to CNY 12,090,834.91[3] - Net profit attributable to shareholders decreased by 28.20% in Q3 2025 to CNY 3,908,782.19, with a year-to-date decrease of 6.66% to CNY 15,249,615.37[3] - Net profit for the first three quarters of 2025 was CNY 15,249,615.60, a decrease of 6.67% compared to CNY 16,337,994.09 in the same period of 2024[17] - The company’s total profit for the first three quarters of 2025 was CNY 12,090,834.91, down from CNY 18,948,718.47 in 2024, reflecting a decrease of 36.1%[17] - Operating profit for the first three quarters of 2025 was CNY 11,983,717.75, down 37.56% from CNY 19,013,302.80 in 2024[17] - Net profit for the first three quarters of 2025 was CNY 8,299,400.56, down 50.24% from CNY 16,664,452.14 in the first three quarters of 2024[23] Cash Flow - Cash flow from operating activities for Q3 2025 was negative at CNY -12,722,669.13, compared to CNY 11,823,777.30 year-to-date[3] - Cash flow from operating activities for the first three quarters of 2025 was CNY 11,823,777.30, a significant improvement from a negative cash flow of CNY -35,918,236.18 in 2024[19] - Operating cash flow for the first three quarters of 2025 was CNY 24,364,054.61, significantly lower than CNY 132,408,726.32 in the same period of 2024[27] - Investment activities generated a net cash flow of CNY -49,584,021.54, an improvement from CNY -77,159,255.51 in the same period of 2024[19] - The company reported a net cash outflow from investment activities of CNY 38,641,875.51 in 2025, an improvement from a net outflow of CNY 62,049,706.54 in 2024[27] Assets and Liabilities - Total assets increased by 15.67% year-on-year to CNY 1,051,024,229.73, while equity attributable to shareholders rose by 2.59% to CNY 473,579,084.46[4] - The total assets of the company as of September 30, 2025, were CNY 1,051,024,229.73, up from CNY 908,646,170.78 at the end of 2024, marking an increase of approximately 15.6%[13] - The total liabilities as of September 30, 2025, were CNY 577,445,145.27, compared to CNY 447,275,992.16 at the end of 2024, representing an increase of about 29.1%[14] - Total assets increased to CNY 512,780,313.73 in 2025 from CNY 486,162,183.68 in 2024, reflecting a growth of 5.06%[22] - Total liabilities rose to CNY 68,454,851.21 in 2025, compared to CNY 47,121,251.57 in 2024, marking an increase of 45.00%[22] - The company's total equity reached CNY 444,325,462.52 in 2025, up from CNY 439,040,932.11 in 2024, indicating a growth of 1.46%[22] Shareholder Information - The company had a total of 23,364 common shareholders at the end of the reporting period[8] - The largest shareholder, Chongqing Mechanical and Electrical Holdings Group, holds 25.95% of the shares[8] Business Operations - The decrease in total profit was primarily due to a reduction in the fair value change of trading financial assets and increased costs in core business operations[5] - The company plans to apply for bankruptcy liquidation for its subsidiary, Shanghai Yitiao Textile Co., Ltd., due to long-term operational inactivity and insolvency[10] - The company has terminated the absorption merger of its wholly-owned subsidiary, Shanghai Jiayi Venture Capital Co., Ltd., and will proceed with bankruptcy liquidation instead[9] - The company will continue to fulfill its information disclosure obligations regarding the progress of the bankruptcy proceedings[10] Earnings Per Share - Basic and diluted earnings per share for Q3 2025 were both CNY 0.020, down 25.93% year-on-year[3] - Basic earnings per share for the first three quarters of 2025 were CNY 0.076, compared to CNY 0.081 in the same period of 2024[18] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.041, down from CNY 0.083 in the same period of 2024[23] Accounts Receivable and Cash Equivalents - Cash and cash equivalents as of September 30, 2025, amounted to CNY 82,873,719.78, down from CNY 122,723,352.96 at the end of 2024, a decrease of approximately 32.5%[11] - Accounts receivable increased to CNY 274,102,480.88 as of September 30, 2025, compared to CNY 175,759,031.40 at the end of 2024, reflecting a growth of about 55.9%[12] - The company's cash and cash equivalents at the end of September 2025 were CNY 82,873,719.78, down from CNY 120,774,075.30 at the end of 2024[19] - The company’s cash and cash equivalents at the end of the period were CNY 27,990,909.76, a decrease from CNY 75,873,696.05 at the end of the same period in 2024[27] Trading Financial Assets - The company reported a significant increase in trading financial assets, rising to CNY 175,130,840.00 from CNY 46,642,620.00 in the previous year[20] - Non-recurring gains and losses for Q3 2025 amounted to CNY 763,314.23, with year-to-date total at CNY 7,660,026.60[6]