AVIC AVIONICS(SH:600372)2023-10-24 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 6,749,884,860.89, representing a 3.40% increase compared to CNY 6,527,782,047.77 in the same period last year[2]. - Net profit attributable to shareholders for Q3 2023 was CNY 625,725,869.39, an 80.89% increase from CNY 345,910,630.06 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was CNY 541,231,124.23, showing a significant increase of 264.32% compared to CNY 148,560,227.91 in the previous year[2]. - The basic earnings per share for Q3 2023 was CNY 0.1283, up 20.92% from CNY 0.1061 in the same quarter last year[2]. - The weighted average return on equity increased to 1.71%, up 0.16 percentage points from 1.55% year-on-year[2]. - The net profit for Q3 2023 reached CNY 1,883,311,926.05, an increase from CNY 1,650,524,876.33 in Q3 2022, representing a growth of approximately 14.06%[16]. - The total profit for Q3 2023 was CNY 2,003,018,197.24, compared to CNY 1,784,274,756.53 in the same period last year, marking an increase of about 12.27%[16]. - The operating profit for Q3 2023 was CNY 1,998,425,803.52, up from CNY 1,786,208,836.21 in Q3 2022, reflecting a growth of approximately 11.88%[16]. - The basic earnings per share for Q3 2023 was CNY 0.3983, compared to CNY 0.3569 in Q3 2022, indicating an increase of about 11.73%[17]. - The total comprehensive income attributable to the parent company's owners for Q3 2023 was CNY 1,717,354,774.76, compared to CNY 988,508,007.40 in Q3 2022, marking an increase of about 73.66%[17]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 73,132,429,840.95, reflecting a 12.99% increase from the previous year[2]. - The equity attributable to shareholders was CNY 35,341,255,693.26, which is a 59.09% increase compared to CNY 22,215,285,969.62 last year[2]. - Total liabilities reached ¥36,263,896,927.56 in Q3 2023, up from ¥34,720,976,166.87 in Q3 2022, which is an increase of about 4.45%[13]. - Accounts receivable increased by 42.72%, mainly due to delayed payments[6]. - Accounts receivable increased to ¥24,398,311,291.60 in Q3 2023 from ¥17,094,989,326.99 in Q3 2022, showing a significant rise of about 42.56%[12]. - Long-term borrowings increased by 178.30%, primarily due to the replacement of low-interest long-term loans[6]. - Short-term borrowings increased to ¥4,216,636,030.02 in Q3 2023 from ¥3,859,695,991.88 in Q3 2022, indicating a rise of about 9.26%[13]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -3,645,173,315.73, indicating a decrease in cash flow compared to the previous year[2]. - Cash inflow from operating activities for the first three quarters of 2023 was CNY 14,931,995,629.02, up from CNY 11,865,310,736.22 in the same period last year, representing a growth of approximately 25.66%[18]. - The net cash flow from operating activities was -3,645,173,315.73, an improvement from -4,774,173,762.64 in the previous year[19]. - Total cash outflow from operating activities amounted to 18,577,168,944.75, compared to 16,639,484,498.86 in the same period last year[19]. - Cash inflow from investment activities was 2,508,910,662.10, while cash outflow was 1,892,112,362.72, resulting in a net cash flow of 616,798,299.38[19]. - The company raised 12,786,961,282.41 in financing activities, significantly up from 4,948,078,127.48 in the previous year[19]. - The net cash flow from financing activities was 6,380,035,246.34, an increase from 549,326,439.07 in the previous year[19]. - The ending balance of cash and cash equivalents was 12,249,414,032.50, up from 4,748,506,113.15 last year[19]. - Cash and cash equivalents as of September 30, 2023, amounted to approximately RMB 12.98 billion, up from RMB 11.45 billion at the end of 2022[11]. Mergers and Acquisitions - The company completed the absorption merger with AVIC Electromechanical Systems Co., Ltd., which affected the scope of consolidation and required restatement of the previous year's comparative reports[3]. - The net profit attributable to shareholders of the listed company increased by 41.83% due to adjustments from mergers under common control[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 125.16%, primarily due to the impact of net profit from subsidiaries included in non-recurring gains and losses after mergers under common control[6]. - The capital reserve increased by 112.79%, mainly due to the increase in capital reserve from mergers and fundraising[6]. - Other comprehensive income increased by 690.55%, primarily due to the increase in other comprehensive income from mergers and fundraising[6]. Research and Development - Research and development expenses for the first three quarters of 2023 amounted to ¥1,811,959,080.53, up from ¥1,621,610,790.26 in 2022, reflecting a growth of approximately 11.73%[15]. Future Plans - The company plans to expand its market presence and enhance product development in the upcoming quarters[10]. - The company plans to continue expanding its market presence and investing in new technologies, although detailed strategies were not specified in the report[15].