Zhejiang Longsheng(SH:600352)2023-10-27 16:00Revenue and Profit Performance - Revenue for the third quarter was 3.61 billion yuan, a decrease of 16.95% year-over-year[4] - Net profit attributable to shareholders was 107.21 million yuan, down 64.32% compared to the same period last year[4] - Basic earnings per share for the quarter were 0.034 yuan, a decrease of 64.58% year-over-year[4] - Total revenue for the first three quarters of 2023 was 10.83 billion RMB, a decrease from 13.42 billion RMB in the same period of 2022[18] - Operating profit for the first three quarters of 2023 was 1.24 billion RMB, down from 2.36 billion RMB in the same period of 2022[20] - Net profit for the first three quarters of 2023 was 995.59 million RMB, compared to 1.96 billion RMB in the same period of 2022[20] - Net profit from continuing operations reached 995.61 million RMB, compared to 1,958.35 million RMB in the previous period[21] - Net profit attributable to shareholders of the parent company was 899.62 million RMB, down from 1,725.21 million RMB in the prior period[21] - Net profit for the first nine months of 2023 reached 613.89 million yuan, up from 573.05 million yuan in the same period of 2022[30] - Operating income for the first nine months of 2023 was 1.05 billion yuan, down from 1.87 billion yuan in the same period of 2022[30] Cash Flow and Financial Position - Operating cash flow for the first nine months was 3.32 billion yuan, an increase of 169.54% year-over-year[4] - The significant increase in operating cash flow was driven by large prepayments received from real estate business[9] - Cash flow from operating activities increased to 3,318.61 million RMB, up from 1,231.20 million RMB in the previous period[23] - Cash flow from investing activities showed a net outflow of 138.18 million RMB, compared to a net outflow of 418.35 million RMB in the prior period[24] - Cash flow from financing activities was 2,269.72 million RMB, up from 800.02 million RMB in the previous period[24] - Net increase in cash and cash equivalents was 5,581.85 million RMB, compared to 1,690.44 million RMB in the prior period[24] - Total cash inflows from operating activities were 14,980.28 million RMB, compared to 12,949.97 million RMB in the prior period[23] - Operating cash flow for the first three quarters of 2023 was 2,740,805,220.29 RMB, a significant increase from 882,867,808.27 RMB in the same period last year[33] - Net cash flow from financing activities for the first three quarters of 2023 was 340,074,546.18 RMB, down from 568,119,667.32 RMB in the same period last year[33] - Cash and cash equivalents at the end of the third quarter of 2023 were 4,010,013,866.62 RMB, up from 1,540,287,593.51 RMB at the end of the same period last year[34] - Total cash inflows from operating activities for the first three quarters of 2023 were 10,556,858,872.87 RMB, up from 8,346,005,966.62 RMB in the same period last year[33] - Net cash flow from investing activities for the first three quarters of 2023 was -2,061,859,628.55 RMB, compared to -1,236,039,157.84 RMB in the same period last year[33] - Total cash inflows from financing activities for the first three quarters of 2023 were 15,248,748,036.96 RMB, up from 9,030,000,000.00 RMB in the same period last year[33] - Cash and cash equivalents increased by 1,029,426,664.24 RMB in the first three quarters of 2023, compared to an increase of 225,587,987.79 RMB in the same period last year[34] Assets and Liabilities - Total assets at the end of the reporting period were 69.78 billion yuan, an increase of 7.09% compared to the end of last year[6] - Total assets as of Q3 2023 were 69.78 billion RMB, an increase from 65.16 billion RMB at the end of 2022[16] - Total liabilities as of Q3 2023 were 34.81 billion RMB, up from 30.40 billion RMB at the end of 2022[17] - Contract liabilities as of Q3 2023 were 3.15 billion RMB, a significant increase from 1.07 billion RMB at the end of 2022[16] - Long-term borrowings as of Q3 2023 were 8.74 billion RMB, up from 3.02 billion RMB at the end of 2022[16] - Equity attributable to owners of the parent company as of Q3 2023 was 32.37 billion RMB, slightly up from 32.17 billion RMB at the end of 2022[17] - Total assets increased to 35.45 billion yuan as of September 30, 2023, compared to 32.14 billion yuan at the end of 2022[26][28] - Total liabilities rose to 28.87 billion yuan from 25.38 billion yuan over the same period[28] - Short-term borrowings increased to 2.78 billion yuan as of September 30, 2023, from 2.57 billion yuan at the end of 2022[28] Shareholder and Equity Information - Total number of ordinary shareholders at the end of the reporting period is 156,955[10] - Ruan Shuilong holds 389,653,992 shares, accounting for 11.98% of total shares[10] - Ruan Weixiang holds 346,321,538 shares, accounting for 10.65% of total shares[10] - Hong Kong Securities Clearing Company holds 105,622,541 shares, accounting for 3.25% of total shares[10] R&D and Financial Expenses - R&D expenses for the first three quarters of 2023 were 417.07 million RMB, a decrease from 544.27 million RMB in the same period of 2022[18] - Financial income for the first three quarters of 2023 was -74.43 million RMB, compared to 100.84 million RMB in the same period of 2022[18] - R&D expenses decreased to 50.83 million yuan in the first nine months of 2023 from 66.42 million yuan in the same period of 2022[30] Comprehensive Income and Earnings Per Share - Total comprehensive income for the period was 1,018.36 million RMB, compared to 2,133.34 million RMB in the previous period[22] - Basic earnings per share (EPS) for the period was 0.2851 RMB, down from 0.5347 RMB in the prior period[22] - Comprehensive income for the third quarter of 2023 totaled 615,060,832.54 RMB, compared to 576,028,404.40 RMB in the same period last year[31] - Other comprehensive income after tax for the third quarter of 2023 was 1,165,970.89 RMB, compared to 2,973,461.68 RMB in the same period last year[31] Inventory and Accounts Receivable - Inventory decreased slightly to 28,520,359,967.74 yuan from 28,648,522,837.86 yuan compared to the end of 2022[14] - Accounts receivable increased to 2,580,128,703.18 yuan from 2,271,965,047.68 yuan compared to the end of 2022[14] - Accounts receivable decreased to 9.81 million yuan as of September 30, 2023, from 18.46 million yuan at the end of 2022[26] - Inventory decreased to 7.99 million yuan as of September 30, 2023, from 14.95 million yuan at the end of 2022[26] Monetary Funds and Investments - Monetary funds increased to 12,345,475,814.00 yuan from 6,874,503,308.48 yuan compared to the end of 2022[14] - Long-term equity investments increased to 2,178,659,199.96 yuan from 2,141,125,749.13 yuan compared to the end of 2022[14] - Fixed assets decreased to 5,903,990,341.33 yuan from 6,355,399,998.43 yuan compared to the end of 2022[14] - Construction in progress increased to 1,244,712,142.25 yuan from 930,612,668.42 yuan compared to the end of 2022[14] - Monetary funds increased to 4.01 billion yuan as of September 30, 2023, compared to 2.99 billion yuan at the end of 2022[26] - Long-term equity investments remained stable at around 10.08 billion yuan as of September 30, 2023[26] Non-Recurring Items - Non-recurring losses for the quarter amounted to 196.27 million yuan, primarily due to fair value changes in financial assets[8] - The decrease in net profit was mainly due to a decline in product prices, leading to lower profit margins[9] Sales and Revenue - Sales revenue from goods and services reached 12,043.78 million RMB, up from 11,697.63 million RMB in the previous period[23] - Sales revenue from goods and services for the first three quarters of 2023 was 2,977,101,316.29 RMB, compared to 1,676,383,419.80 RMB in the same period last year[33]