Zhejiang Wansheng (SH:603010)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥737,792,809.93, a decrease of 11.67% compared to the same period last year[6]. - Net profit attributable to shareholders was ¥48,929,349.62, representing a year-on-year increase of 7.23%[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥48,492,963.59, down 6.45% year-on-year[6]. - Basic earnings per share for the period was ¥0.08, unchanged from the previous quarter, but down 45.10% year-to-date[7]. - Total revenue for the first three quarters of 2023 was approximately ¥2.16 billion, a decrease of 17.7% compared to ¥2.63 billion in the same period of 2022[22]. - Net profit for Q3 2023 was CNY 158.05 million, down 40.2% from CNY 264.52 million in Q3 2022[24]. - Operating profit for Q3 2023 was CNY 191.67 million, a decrease of 41.1% from CNY 325.44 million in Q3 2022[23]. - Total profit for Q3 2023 was CNY 186.58 million, down 42.5% from CNY 324.76 million in Q3 2022[24]. - The net profit for the year-to-date decreased by 42.23% primarily due to a decline in product gross margin[10]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,074,025,623.25, a slight increase of 0.33% from the end of the previous year[7]. - As of September 30, 2023, the total assets amounted to approximately ¥6.07 billion, slightly up from ¥6.05 billion at the end of 2022[19]. - The total liabilities decreased to approximately ¥1.89 billion from ¥2.03 billion at the end of 2022, indicating a reduction of about 6.8%[19]. - The company's total assets amounted to RMB 6,053,809,133.65, with total liabilities at RMB 2,029,708,290.27, resulting in total equity of RMB 4,024,100,843.38[31]. - The equity attributable to shareholders increased to approximately ¥4.07 billion from ¥4.00 billion at the end of 2022, reflecting a growth of about 1.5%[19]. Cash Flow - The company reported a cash flow from operating activities of ¥489,174,414.13 for the year-to-date, an increase of 17.53%[7]. - Cash inflow from operating activities for the first three quarters of 2023 was CNY 2.26 billion, a decrease of 28.7% from CNY 3.18 billion in the same period of 2022[26]. - The net cash flow from operating activities for Q3 2023 was RMB 489,174,414.13, an increase of 17.5% compared to RMB 416,195,274.37 in Q3 2022[27]. - The total cash outflow from investing activities was RMB 1,101,793,865.27, slightly up from RMB 1,044,771,980.16 in the same period last year, resulting in a net cash flow from investing activities of -RMB 895,674,896.88[27]. - Cash inflow from financing activities decreased to RMB 890,781,903.13 in Q3 2023 from RMB 2,408,432,661.29 in Q3 2022, leading to a net cash flow from financing activities of -RMB 210,846,223.49[27]. - The total cash and cash equivalents at the end of Q3 2023 were RMB 983,885,815.33, down from RMB 1,630,615,974.31 at the end of Q3 2022, reflecting a net decrease of RMB 611,596,649.89[27]. - The company reported a decrease in net cash flow from financing activities by 112.4% year-over-year, indicating a significant reduction in capital inflow[27]. Shareholder Information - The company had a total of 26,005 common shareholders at the end of the reporting period[11]. - The company completed the sale of a 60.6032% stake in its subsidiary Fujian Zhongzhou New Materials Technology Co., Ltd. for ¥44 million, receiving a total of ¥33 million in transfer payments to date[14]. - The company completed the transfer of 174,305,939 shares (29.56% of total equity) to Fosun High Technology for a total consideration of ¥2.65 billion[15]. Expenses and Costs - Total operating costs for Q3 2023 were approximately CNY 1.98 billion, a decrease of 12.8% compared to CNY 2.27 billion in Q3 2022[23]. - Research and development expenses for Q3 2023 were CNY 90.38 million, slightly down from CNY 93.35 million in Q3 2022[23]. - Tax expenses for Q3 2023 were CNY 28.53 million, a decrease of 52.7% compared to CNY 60.23 million in Q3 2022[24]. - Other comprehensive income after tax for Q3 2023 was CNY 1.82 million, down from CNY 5.24 million in Q3 2022[24]. Accounting and Policy Changes - The company adjusted its accounting policies in accordance with the new accounting standards effective from January 1, 2023, impacting the initial retained earnings and related financial statement items[28]. - The company’s long-term equity investments remained stable at RMB 2,640,602.00, indicating no significant changes in this area[29]. Inventory and Borrowings - The company reported a decrease in inventory to approximately ¥376.80 million from ¥505.60 million, a decline of about 25.4%[17]. - The company's short-term borrowings decreased significantly to approximately ¥86.09 million from ¥271.48 million, a reduction of about 68.3%[19]. - The company’s long-term borrowings increased to approximately ¥576.63 million from ¥375.93 million, an increase of about 53.4%[19].