AEROSPACE POWER(SH:600343)2023-10-27 16:00Financial Performance - The company's operating revenue for the current reporting period decreased by 49.07% compared to the previous period[6]. - The net profit attributable to shareholders for the year-to-date period saw a significant change due to the exclusion of the chemical biological equipment and fluid measurement businesses from the consolidated financial statements[6]. - The net profit for Q3 2023 was a loss of RMB 56,714,168.41, compared to a loss of RMB 10,545,829.15 in Q3 2022, indicating a significant increase in losses year-over-year[21]. - The total profit for Q3 2023 was reported as a loss of RMB 57,220,916.46, compared to a loss of RMB 8,681,433.81 in the same period last year, representing a worsening of approximately 558.73%[21]. - Net profit attributable to shareholders for the third quarter was CNY -30,010,025.28, representing a decrease of 756.75% year-on-year[52]. - The total comprehensive income attributable to the parent company was -57,677,585.75 CNY, compared to -17,178,758.43 CNY in the previous period, indicating a significant decline[72]. - The company reported a net loss of CNY 51.28 million for the first nine months of 2023, compared to a loss of CNY 8.33 million in the same period last year[62]. Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date period was negatively impacted primarily due to lower-than-expected cash collections[6]. - Cash and cash equivalents decreased by 42.37% mainly due to cash receipts being less than cash payments during the period[14]. - The company's cash received from sales of goods and services decreased by 46.54% due to reduced cash collections during the period[14]. - Cash inflow from operating activities for the first nine months of 2023 was RMB 457,962,478.99, down from RMB 849,458,552.72 in the same period of 2022, a decrease of about 46.06%[22]. - The company's cash and cash equivalents as of September 30, 2023, were RMB 289,882,247.83, a significant decrease from RMB 502,992,050.33 at the end of 2022, representing a decline of approximately 42.47%[18]. - The net cash flow from operating activities was -179,683,730.48 CNY, compared to -115,443,232.43 CNY previously, reflecting increased cash outflows[73]. - Cash outflows from investing activities totaled 83,371,915.21 CNY, leading to a net cash flow from investing activities of -83,371,915.21 CNY, a decline from a positive cash flow of 58,052,661.80 CNY in the previous period[73]. - Cash inflows from financing activities amounted to 353,500,000.00 CNY, up from 246,000,000.00 CNY in the prior period, indicating increased financing efforts[73]. Assets and Liabilities - As of September 30, 2023, the total current assets amounted to RMB 1,734,239,368.14, a decrease from RMB 1,861,584,806.01 as of December 31, 2022, reflecting a decline of approximately 6.84%[18]. - The total assets as of September 30, 2023, amounted to CNY 3,097,558,860.94, a decrease of 1.58% from the end of the previous year[52]. - The total liabilities as of September 30, 2023, were CNY 1,291,190,916.59, reflecting a slight increase compared to the previous year[52]. - The total liabilities of the company as of September 30, 2023, were approximately CNY 1.23 billion, slightly up from CNY 1.23 billion at the end of the previous reporting period[69]. - The company's total equity attributable to shareholders decreased to approximately CNY 1.81 billion from CNY 1.86 billion, reflecting a decline of about 2.3%[69]. Operational Efficiency - The company experienced a 40.13% reduction in operating costs, primarily due to changes in the consolidation scope affecting the chemical biological equipment and fluid measurement businesses[14]. - Total operating revenue for the first three quarters of 2023 was CNY 544,406,223.88, a decrease of 38.30% compared to the same period in 2022[34]. - Total operating costs for the first nine months of 2023 amounted to approximately CNY 596.31 million, with operating costs specifically at CNY 447.72 million[62]. Investments and Equity - Long-term equity investments increased by 20.47% due to additional capital contributions to Hangli Company[14]. - The long-term equity investments increased to RMB 418,757,589.10 as of September 30, 2023, up from RMB 347,605,681.81 at the end of 2022, representing an increase of approximately 20.43%[18]. - The company reported a 1201.46% increase in gains from asset disposals, mainly due to capital contributions to Hangli Company[14]. Other Financial Metrics - The weighted average return on equity for the third quarter was -1.64847%, a decrease of 1.89 percentage points year-on-year[52]. - Basic earnings per share for the third quarter was CNY -0.047022, reflecting a significant decline compared to the previous year[52]. - The basic and diluted earnings per share were both -0.090375 CNY, worsening from -0.026917 CNY in the prior period[72]. - Research and development expenses for the first nine months of 2023 were CNY 28.12 million, down from CNY 31.22 million in the previous year, indicating a decrease of approximately 9.5%[62]. Legal and Compliance - The company recognized a litigation loss of CNY 729.26 million during the reporting period, following a court ruling against its subsidiary[58]. - The company has been actively pursuing third-party claims to recover losses from litigation, although the outcome remains uncertain[58]. - The company has completed the execution of the final judgment in a lawsuit related to a construction project, with all parties fulfilling their obligations as of September 2023[58].