FFEC(SH:600203)2023-10-26 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥3,547,555,143.71, a decrease of 10.83% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥10,137,322.18, compared to a loss of ¥68,397,039.68 in the previous year[6]. - The company reported a significant decline in revenue for the year-to-date period, with a decrease of 38.73% attributed mainly to a reduction in revenue from its subsidiary, Shenzhen Zhongnuo Communications Co., Ltd.[11]. - Total revenue for the first three quarters of 2023 was ¥7,683,071,961.82, a decrease of approximately 38.5% compared to ¥12,539,420,194.01 in the same period of 2022[24]. - The company reported a net loss of ¥693,865,815.40 for the first three quarters of 2023, compared to a loss of ¥559,959,361.15 in the same period of 2022[23]. - The net profit for Q3 2023 was -127,238,396.96 RMB, compared to -46,993,539.76 RMB in Q3 2022, indicating a significant increase in losses[25]. - The total comprehensive income for Q3 2023 was -125,509,225.58 RMB, compared to -35,348,902.25 RMB in Q3 2022, indicating a worsening of overall financial performance[26]. - Basic and diluted earnings per share for Q3 2023 were both -0.23 RMB, compared to -0.04 RMB in Q3 2022, reflecting a decline in shareholder value[26]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 86.91% to ¥348,863,751.67, primarily due to a reduction in cash payments for goods and services[11]. - Cash flow from operating activities for the first three quarters of 2023 was 9,405,111,938.86 RMB, down from 12,783,543,764.82 RMB in 2022, reflecting a decrease of approximately 26.5%[27]. - The net cash flow from operating activities for Q3 2023 was -235,584,274.97 RMB, compared to -730,603,274.00 RMB in Q3 2022, showing an improvement in cash flow losses[28]. - The cash and cash equivalents at the end of Q3 2023 were 951,088,528.97 RMB, down from 1,365,085,150.54 RMB at the end of Q3 2022, indicating a decrease of approximately 30.5%[29]. - The company reported a decrease in cash received from sales and services, totaling 9,820,159,389.48 RMB in Q3 2023, down from 14,105,895,834.64 RMB in Q3 2022, representing a decline of approximately 30.1%[28]. - The total cash inflow from financing activities for Q3 2023 was 3,283,326,620.88 RMB, slightly lower than 3,661,293,268.30 RMB in Q3 2022[29]. - The ending cash and cash equivalents balance for Q3 2023 was approximately 193.99 million, down from 632.18 million at the end of Q3 2022, a decrease of 69.3%[40]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,778,330,138.01, reflecting a decrease of 13.29% from the end of the previous year[7]. - Total assets decreased to ¥7,778,330,138.01 in Q3 2023 from ¥8,970,738,043.69 in Q3 2022, a decline of about 13.3%[23]. - Total liabilities decreased to ¥5,487,665,630.11 in Q3 2023 from ¥6,536,714,340.21 in Q3 2022, a reduction of approximately 16.1%[23]. - Total liabilities decreased to ¥533,527,351.23 from ¥662,682,431.08, a reduction of approximately 19.5%[33]. - Long-term equity investments decreased to ¥219,537,835.27 in Q3 2023 from ¥267,431,378.05 in Q3 2022, a decrease of approximately 18.0%[22]. Shareholder Information - As of September 30, 2023, the total number of common shareholders was 37,542[13]. - The top 10 shareholders hold a total of 15.89% and 11.97% of shares respectively, with 福建福日集团有限公司 and 福建省电子信息(集团)有限责任公司 being the largest[13]. Investment and Project Updates - The company plans to extend the construction period for the 广东以诺通讯有限公司 terminal intelligent manufacturing project by 12 months, now expected to be operational by November 19, 2023[17]. - The company has halted the TWS intelligent manufacturing project due to changes in the macroeconomic environment, with RMB 749.12 million already invested out of a planned RMB 172 million[17]. - Global smartphone shipments declined by 13% year-on-year in Q1 2023 and 10% in Q2 2023, impacting the company's production plans[19]. - The company is closely monitoring market conditions and may adjust project timelines based on demand fluctuations[19]. Research and Development - Research and development expenses increased to ¥211,196,101.12 in 2023 from ¥195,199,260.69 in 2022, representing an increase of approximately 8.2%[24]. - Research and development expenses for the first three quarters of 2023 were ¥5,892,094.17, slightly up from ¥5,845,381.69 in the same period of 2022[36]. Financial Expenses - The company reported a significant increase in financial expenses, totaling ¥16,710,525.02 compared to ¥4,866,040.45 in the previous year, marking an increase of 243.5%[36].