Zhejiang Furun(SH:600070)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 17,448,547, a decrease of 67.36% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2023 was CNY -68,336,145.43, with a year-to-date net profit of CNY -172,255,044.91[5]. - Total revenue for the first three quarters of 2023 was ¥95,521,610.44, a decrease of 28.3% compared to ¥133,111,359.52 in the same period of 2022[23]. - Net loss for the third quarter of 2023 was ¥172,396,204.35, compared to a net loss of ¥400,904,833.75 in the same quarter of 2022, representing a 57.0% improvement[24]. - The company’s total operating profit for the first three quarters of 2023 was -¥196,377,625.10, an improvement from -¥428,947,307.22 in the same period of 2022[24]. - Basic and diluted earnings per share for Q3 2023 were both CNY -0.13[6]. - Basic and diluted earnings per share for the third quarter of 2023 were both -¥0.34, an improvement from -¥0.76 in the same quarter of 2022[25]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was CNY -143,960,756.80[6]. - In the first three quarters of 2023, the cash inflow from operating activities was CNY 109,211,139.56, a decrease of 30.0% compared to CNY 156,181,218.47 in the same period of 2022[27]. - The net cash flow from operating activities was -CNY 143,960,756.80, worsening from -CNY 85,056,173.37 year-over-year[27]. - The total cash and cash equivalents at the end of the period were CNY 37,334,047.83, down from CNY 50,201,036.72 year-over-year[28]. - The company paid CNY 89,050,000.00 in debt repayment, significantly lower than CNY 338,000,000.00 in the previous year, indicating a reduction of 73.7%[28]. - Cash outflow for purchasing goods and services was CNY 105,932,817.04, down from CNY 177,393,853.51, indicating a reduction of 40.3%[27]. - The cash received from investment recoveries was CNY 117,428,627.21, down from CNY 137,531,116.53, reflecting a decrease of 14.5%[27]. - The cash flow from other operating activities was CNY 3,508,864.18, a decline of 38.9% compared to CNY 5,752,938.19 in the previous year[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,475,791,532.43, a decrease of 18.75% from the end of the previous year[6]. - The company's total assets amounted to approximately RMB 1,475.79 million, a decrease from RMB 1,816.43 million as of December 31, 2022, reflecting a decline of about 18.77%[18]. - The company's total liabilities as of the end of the third quarter of 2023 were ¥429,023,431.57, down from ¥597,263,439.07 at the end of the same quarter in 2022, a reduction of 28.2%[21]. - The total equity attributable to shareholders of the parent company was ¥1,055,162,455.56, compared to ¥1,227,415,400.47 in the previous year, a decrease of 13.9%[21]. - Accounts receivable decreased to RMB 602.71 million from RMB 802.76 million, representing a decline of about 25%[18]. - The company reported a total current liabilities of RMB 250.43 million, down from RMB 289.96 million, showing a reduction of approximately 13.66%[19]. Shareholder Information - The top shareholder, Furen Holdings Group Co., Ltd., holds 101,273,442 shares, representing 19.96% of total shares, with 76,000,000 shares pledged[13]. - The company has reduced its holdings in Shangfeng Cement by a total of 5,999,972 shares at an average price of RMB 9.34 per share, resulting in a total reduction amounting to approximately RMB 5.61 million[16]. - Cumulative reduction in Shangfeng Cement shares since the announcement in September 2022 reached approximately RMB 23.22 million, accounting for 18.92% of the company's latest audited net assets[16]. - The company holds 3,150,910 shares of Shangfeng Cement, representing 0.39% of its total share capital after the recent reductions[16]. - The company plans to continue monitoring market conditions for potential further divestments of Shangfeng Cement shares[15]. Operational Efficiency - The significant decline in operating revenue was primarily due to extended settlement cycles for promotional services by the subsidiary Kasa Technology[10]. - Total operating costs for the first three quarters of 2023 were ¥120,149,520.03, down 44.5% from ¥216,858,460.32 in the previous year[23]. - Research and development expenses for the first three quarters of 2023 were ¥9,717,904.45, down 40.4% from ¥16,362,384.60 in the previous year[23]. - The company reported a significant increase in fair value gains of ¥23,372,560.69 in the third quarter of 2023, compared to a loss of ¥97,182,620.71 in the same quarter of 2022[24]. - The company's inventory increased slightly to RMB 2.35 million from RMB 2.27 million, reflecting an increase of about 3.77%[19]. - Non-current assets totaled RMB 747.95 million, a slight increase from RMB 728.16 million, indicating a growth of approximately 2.43%[19]. Future Outlook - The company has not provided specific guidance for future performance or new product developments in this report[4].