JINGCHENG MAC(SH:600860)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥389,769,513.07, a decrease of 2.68% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥20,121,753.61, with a year-to-date net profit of -¥49,812,689.63[5]. - Total operating revenue for the first three quarters of 2023 was CNY 1,015,753,245.59, a decrease from CNY 1,038,171,882.20 in the same period of 2022[21]. - Net profit for Q3 2023 was a loss of CNY 60,380,155.02, compared to a profit of CNY 21,374,621.44 in Q3 2022[23]. - The total comprehensive income for Q3 2023 was -58,646,046.69 RMB, compared to 23,340,994.15 RMB in Q3 2022, indicating a significant decline[24]. - The total equity attributable to shareholders decreased to CNY 1,028,297,999.34 from CNY 1,075,757,552.12[19]. Cash Flow and Assets - The cash flow from operating activities for Q3 2023 was ¥40,958,366.20, showing an increase compared to ¥34,491,467.55 in the previous year[6]. - Cash and cash equivalents reached RMB 431,963,794.60, up from RMB 336,627,993.24 at the end of 2022, indicating a growth of about 28.3%[17]. - Cash inflow from operating activities totaled 896,420,131.73 RMB, down 14.5% from 1,047,829,695.65 RMB in the previous year[25]. - Cash and cash equivalents at the end of Q3 2023 amounted to 351,782,491.79 RMB, a decrease from 365,648,380.40 RMB at the end of Q3 2022[26]. - The total cash outflow from investing activities was 73,850,558.09 RMB, slightly higher than 69,600,133.36 RMB in the same period last year[26]. - The net cash flow from financing activities for Q3 2023 was 126,628,445.26 RMB, down from 251,521,532.76 RMB in Q3 2022[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 48,549[12]. - The top shareholder, Beijing Jingcheng Machinery Holdings, holds 45.32% of the shares, while HKSCC Nominees Limited holds 18.35%[13]. - The company reported a total of 10 major shareholders, with the top 5 holding a significant portion of the shares[14]. - The company plans to hold a shareholder meeting on November 13, 2023, to discuss the stock incentive plan[16]. Investment and Development - The company plans to enhance competitiveness by increasing investment in new product research and development due to the complex international situation affecting export business[10]. - Research and development expenses for Q3 2023 were CNY 49,001,349.40, significantly higher than CNY 32,554,642.66 in Q3 2022, indicating increased investment in innovation[22]. - The company has initiated a restricted stock incentive plan in 2023 to attract and retain talent, with approval from the Beijing State-owned Assets Supervision and Administration Commission[16]. Market Challenges - The decrease in net profit is attributed to intensified domestic market competition and lower-than-expected growth in the hydrogen energy sector[10]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was also negative, indicating ongoing challenges in the market[10]. - The company reported a significant increase in financial expenses, rising to CNY 11,652,101.87 from CNY 3,426,353.12 year-on-year[22]. - The company experienced a credit impairment loss of CNY -4,184,545.21, compared to CNY -810,004.79 in the previous year, indicating increased credit risk[22].