QCEC(SH:600218)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥1,024,001,053.79, a decrease of 10.01% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2023 was ¥12,107,738.86, down 4.69% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,754,018.37, a decline of 18.94% compared to the previous year[5] - The basic earnings per share for Q3 2023 was ¥0.03, unchanged from the previous quarter, but down 5.56% year-on-year[6] - Total operating revenue for the first three quarters of 2023 was approximately ¥3.84 billion, a decrease of 3.36% compared to ¥3.97 billion in the same period of 2022[18] - Net profit for the first three quarters of 2023 was approximately ¥70.66 million, a slight decrease of 2.42% from ¥72.40 million in the same period of 2022[19] - Basic earnings per share for the first three quarters of 2023 were ¥0.17, compared to ¥0.18 in the same period of 2022[20] Assets and Liabilities - The total assets at the end of Q3 2023 were ¥5,905,684,343.86, an increase of 5.01% from the end of the previous year[6] - As of September 30, 2023, the total assets of the company amounted to CNY 5,905,684,343.86, an increase from CNY 5,623,762,703.37 at the end of 2022, reflecting a growth of approximately 5.01%[13][15] - The company's total liabilities reached CNY 2,727,105,621.81, up from CNY 2,480,400,690.55, which is an increase of approximately 9.94%[15] - Total current liabilities rose to CNY 2,550,141,517.20, compared to CNY 2,311,062,587.55, marking an increase of around 10.4%[15] - The total equity attributable to shareholders increased to CNY 3,137,071,162.05 from CNY 3,098,481,882.45, reflecting a growth of about 1.25%[15] Cash Flow - Cash flow from operating activities for the year-to-date was -¥163,447,897.33, reflecting a decrease of 317.27%[6] - The net cash flow from operating activities for Q3 2023 was -$163.45 million, compared to a positive $75.23 million in Q3 2022, indicating a significant decline in operational cash generation[23] - Cash inflow from operating activities was approximately ¥2.56 billion, a decrease of 24.36% from ¥3.39 billion in the same period of 2022[22] - The cash flow from operating activities showed a significant outflow, with total cash outflow amounting to $2.73 billion in Q3 2023, compared to $3.31 billion in Q3 2022[23] Expenses and Income - Research and development expenses increased by 10.24% due to higher testing and inspection costs compared to the same period last year[9] - Research and development expenses increased to approximately ¥128.82 million, up 10.06% from ¥116.86 million in the same period of 2022[18] - The company recorded a 95.84% increase in non-operating income, mainly from the write-off of long-term unpaid payables[9] - The company experienced a decrease in tax expenses to approximately ¥5.19 million, down 57.54% from ¥12.22 million in the same period of 2022[19] - The company’s financial expenses showed a slight increase in interest expenses to approximately ¥3.18 million, compared to ¥3.13 million in the same period of 2022[18] Inventory and Receivables - The company reported a significant increase in accounts receivable by 134.26%, primarily due to customer turnover funds being utilized during the period[9] - Accounts receivable surged to CNY 1,114,916,650.59, up from CNY 475,930,001.79, indicating a significant increase of approximately 134.8%[13] - The company reported a decrease in inventory to CNY 735,950,341.60 from CNY 771,199,463.23, which is a decline of approximately 4.55%[13] Financing Activities - The total cash outflow from financing activities was $35.51 million in Q3 2023, compared to $46.38 million in Q3 2022, indicating a decrease in financing costs[23] - The company did not report any cash inflow from financing activities in Q3 2023, which may indicate a strategic shift in financing approach[23] Other Observations - The company's cash and cash equivalents decreased to CNY 818,964,508.02 from CNY 1,093,850,686.41, representing a decline of about 25.1%[13] - The company has not disclosed any significant new product developments or market expansion strategies in the current report[12] - There are no indications of mergers or acquisitions mentioned in the latest financial disclosures[12]