Zhejiang Wansheng (SH:603010)2022-10-28 16:00Financial Performance - The company's operating revenue for Q3 2022 was ¥835,248,043.83, a decrease of 21.30% compared to ¥1,061,328,918.64 in the same period last year[5]. - Net profit attributable to shareholders for Q3 2022 was ¥45,630,834.75, down 76.64% from ¥195,350,114.80 year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥51,833,970.62, a decrease of 73.14% compared to ¥192,988,598.34 in the previous year[5]. - Basic earnings per share for Q3 2022 were ¥0.08, down 80.00% from ¥0.40 in the same period last year[5]. - The weighted average return on equity decreased by 25.14 percentage points to 1.17% compared to 9.64% in the previous year[5]. - Total operating revenue for the first three quarters of 2022 was ¥2,630,122,285.13, a decrease of 12.76% compared to ¥3,014,760,648.54 in the same period of 2021[28]. - Net profit for the third quarter of 2022 was ¥264,523,461.20, a decline of 57.61% from ¥624,670,375.87 in the same quarter of 2021[35]. - Total comprehensive income attributable to the parent company was CNY 290,195,557.98, compared to CNY 623,686,965.05 in the previous year[37]. - Basic and diluted earnings per share were CNY 0.51, down from CNY 1.29 year-over-year[37]. Assets and Liabilities - Total assets at the end of the reporting period increased by 74.76% to ¥3,316,703,131.54 compared to ¥5,796,134,917.19 in the previous year[5]. - The company's total liabilities increased to ¥1,455,292,914.28 from ¥820,819,192.77 year-over-year[26]. - The company's total liabilities reached ¥1,853,967,268.46, up from ¥948,875,344.55 year-over-year, reflecting increased leverage[28]. - The total equity attributable to shareholders increased to ¥3,921,456,203.55 from ¥2,367,827,786.99, indicating a strong capital position[28]. - The total non-current assets amounted to ¥2,607,229,709.86, compared to ¥1,461,761,521.81 in the previous year[26]. Cash Flow - Cash inflow from operating activities totaled CNY 3,175,185,895.84, an increase from CNY 2,746,806,858.06 in the same period last year[40]. - Net cash flow from operating activities was CNY 416,195,274.37, down from CNY 597,643,118.83 year-over-year[40]. - Cash outflow from investing activities was CNY 1,044,771,980.16, compared to CNY 182,101,753.69 in the previous year[40]. - Net cash flow from investing activities was -CNY 1,017,823,710.25, compared to -CNY 171,811,151.86 in the same period last year[40]. - Cash inflow from financing activities was CNY 2,408,432,661.29, significantly higher than CNY 287,874,693.35 in the previous year[40]. - Net cash flow from financing activities was CNY 1,696,844,332.99, compared to -CNY 264,034,080.96 in the same period last year[40]. - The ending balance of cash and cash equivalents was CNY 1,630,615,974.31, up from CNY 444,702,719.92 year-over-year[40]. - The company received CNY 1,479,233,035.31 from investment absorption, indicating strong financing activity[40]. Operational Challenges - The decline in sales volume and gross profit margin was the main reason for the decrease in net profit and earnings per share[10]. - The company faced significant impacts from domestic pandemic outbreaks, high inflation in Europe and the US, and the ongoing energy crisis in Europe, leading to reduced global demand[12]. - The company recognized inventory impairment due to falling product prices and incurred amortization costs from the acquisition of Fujian Zhongzhou[12]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,144[14]. - The largest shareholder, Nanjing Steel Co., Ltd., holds 174,305,939 shares, accounting for 29.56% of total shares[14]. Research and Development - Research and development expenses for the third quarter of 2022 were ¥93,351,682.04, compared to ¥90,505,563.04 in the previous year, showing continued investment in innovation[31]. - The company has entered trial production for its new materials project with an annual capacity of 175,000 tons[18]. - Jiangsu Wansheng Dawei Chemical Co., Ltd. has also commenced trial production for its project with an annual capacity of 27,000 tons[19].