YMCC(SH:600691)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 3,762,405,876.94, representing a decrease of 4.51% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2023 was a loss of CNY 14,892,568.48, a decline of 59.09% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was a loss of CNY 17,860,012.24, down 56.43% from the previous year[6]. - The basic earnings per share for Q3 2023 was -CNY 0.0063, a decrease of 58.82% compared to the same period last year[7]. - The net profit for the first three quarters of 2023 is -350,834,071.99 RMB, compared to a net profit of 210,198,213.35 RMB in the same period of 2022, representing a significant decline[20]. - The total comprehensive income attributable to the parent company's owners for the first three quarters of 2023 is -230,394,179.51 RMB, down from 193,102,356.82 RMB in 2022[22]. - The operating profit for the first three quarters of 2023 is -337,926,259.60 RMB, compared to an operating profit of 270,976,355.37 RMB in the same period of 2022[20]. - The basic and diluted earnings per share for the first three quarters of 2023 are -0.0968 RMB, compared to 0.0806 RMB in the same period of 2022[22]. Revenue and Costs - Total revenue for the first three quarters of 2023 was CNY 10,984,335,845.79, a decrease of 18.6% compared to CNY 13,491,603,760.18 in the same period of 2022[18]. - Total operating costs for the first three quarters of 2023 amounted to CNY 11,334,246,600.14, down from CNY 13,243,325,989.93 in 2022, reflecting a reduction of 6.9%[18]. - The company reported a decrease in sales revenue from 12,848,790,562.31 RMB in the first three quarters of 2022 to 10,350,540,327.74 RMB in 2023, reflecting a decline of approximately 19.5%[22]. Assets and Liabilities - The total assets at the end of Q3 2023 were CNY 24,197,903,876.68, a decrease of 2.14% from the end of the previous year[7]. - The equity attributable to shareholders at the end of Q3 2023 was CNY 5,785,611,082.29, down 3.68% from the end of the previous year[7]. - The company's cash and cash equivalents decreased to CNY 7,157,454,143.90 as of September 30, 2023, from CNY 7,601,016,029.85 at the end of 2022, a decline of 5.8%[14]. - Accounts receivable increased to CNY 1,139,872,771.66 from CNY 986,381,172.48, representing a growth of 15.5%[14]. - Inventory rose to CNY 2,448,158,135.75, up from CNY 2,252,940,730.60, indicating an increase of 8.7%[15]. - Current liabilities totaled CNY 16,132,065,892.96, a decrease of 3.3% from CNY 16,688,647,414.80 at the end of 2022[16]. - Long-term borrowings increased to CNY 768,600,000.00 from CNY 646,700,000.00, reflecting a rise of 18.8%[16]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 83,728,961.74, a decline of 75.11% compared to the same period last year[7]. - Cash flow from operating activities for the first three quarters of 2023 is 83,728,961.74 RMB, a decrease from 336,380,399.89 RMB in 2022[23]. - The total cash outflow from operating activities in the first three quarters of 2023 is 10,364,832,069.00 RMB, down from 12,652,957,205.81 RMB in 2022[23]. - The company reported a net cash outflow from financing activities of -157,791,957.44 RMB in the first three quarters of 2023, compared to -446,494,617.26 RMB in 2022[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,700[11]. - The largest shareholder, Huayang New Materials Technology Group Co., Ltd., held 24.19% of the shares, with 287,337,300 shares pledged[11]. Research and Development - Research and development expenses for the first three quarters of 2023 were CNY 180,241,721.02, compared to CNY 160,813,499.94 in 2022, an increase of 12.0%[18]. Market Conditions - The company reported a significant decline in product prices, which adversely affected revenue and cash inflows[12]. - The company incurred credit impairment losses of -15,452,576.57 RMB in the first three quarters of 2023, an improvement from -35,147,780.77 RMB in 2022[20].