TUNA(SH:603177)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥174,502,993.63, a decrease of 19.48% compared to the same period last year, while year-to-date revenue increased by 12.61% to ¥613,370,201.76[5] - The net profit attributable to shareholders for Q3 2023 was -¥3,971,350.59, representing a significant decline of 257.00% year-on-year, with a year-to-date net profit of -¥2,031,997.25, down 110.84%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥10,052,367.82 for Q3 2023, a decrease of 2,514.31% year-on-year, with a year-to-date figure of -¥11,307,677.69, down 176.84%[5] - The basic and diluted earnings per share for Q3 2023 were both -¥0.02, reflecting a 300.00% decrease compared to the previous year[6] - The net profit for the year-to-date period is -115.23 million, primarily due to a year-on-year decline in operating profit[10] - The total profit for the year-to-date period is -110.56 million, attributed to a decrease in operating profit compared to the previous year[10] - The investment income for the year-to-date period is -128.77 million, mainly due to losses from joint ventures Tianchuang Environmental and Yuelu Environmental[10] - The basic earnings per share for the current reporting period is -300.00, reflecting a decline in operating profit[10] - The diluted earnings per share for the current reporting period is also -300.00, consistent with the decline in operating profit[10] - The net profit for the third quarter of 2023 was a loss of RMB 2,771,725.11, compared to a net profit of RMB 18,198,884.12 in the same quarter of 2022, reflecting a significant decline[24] - The company reported a total comprehensive loss of RMB 2,198,537.61 for the third quarter of 2023, compared to a comprehensive income of RMB 18,216,300.01 in the same quarter of 2022[25] Assets and Liabilities - The total assets at the end of Q3 2023 were ¥1,794,577,221.63, an increase of 20.08% from the end of the previous year[6] - As of September 30, 2023, total assets reached RMB 1,794,577,221.63, an increase from RMB 1,494,502,039.52 at the end of 2022, reflecting a growth of approximately 20.1%[17] - The company's current assets amounted to RMB 1,052,902,558.75, compared to RMB 989,449,237.77 at the end of 2022, indicating an increase of about 6.4%[17] - The total liabilities increased to RMB 1,299,000,000.00, up from RMB 1,059,000,000.00, indicating a growth of approximately 22.6%[18] - The company's total liabilities as of the third quarter of 2023 amounted to RMB 1,342,982,265.10, an increase from RMB 1,118,065,156.50 in the previous year[19] - The total equity attributable to shareholders was RMB 495,577,221.63, up from RMB 435,502,039.52, reflecting a growth of approximately 13.8%[17] - The total equity attributable to shareholders of the parent company was RMB 412,562,741.72, up from RMB 374,014,940.35 year-over-year[19] Cash Flow - The company reported a significant improvement in cash flow from operating activities, with a net cash inflow of ¥13,339,779.79 year-to-date, attributed to increased sales and enhanced collection efforts[8] - The cash flow from operating activities has significantly improved compared to the same period last year, driven by increased operating revenue and cash received from sales[10] - The net cash flow from operating activities for the first three quarters of 2023 was ¥13,339,779.79, a significant improvement compared to a net outflow of ¥69,305,031.67 in the same period of 2022[27] - Total cash inflow from operating activities increased to ¥688,975,401.65, up from ¥544,051,644.92 in the previous year, representing a growth of approximately 26.6%[27] - Cash outflow for purchasing goods and services rose to ¥466,302,806.91, compared to ¥406,168,239.67 in the prior year, indicating an increase of about 14.8%[27] - The net cash flow from investing activities was -¥188,558,129.13, worsening from -¥56,285,580.07 in the same period last year[28] - Cash inflow from financing activities totaled ¥654,737,000.00, an increase from ¥592,989,904.00 in the previous year, reflecting a growth of approximately 10.4%[28] - The net cash flow from financing activities improved to ¥190,324,875.08, compared to ¥125,386,054.01 in the same period of 2022, marking an increase of about 51.8%[28] - The ending balance of cash and cash equivalents was ¥86,747,245.30, up from ¥58,846,199.42 at the end of the same period last year[28] - The company received cash from investment of ¥46,802,000.00, down from ¥61,152,000.00 in the previous year, indicating a decrease of approximately 23.4%[28] - Cash received from other financing activities increased significantly to ¥100,160,000.00 from ¥24,450,000.00, showing a growth of over 309%[28] Operational Insights - The subsidiary, Shaoxing Yuexin Environmental Technology Co., experienced a decline in waste salt disposal revenue due to lower storage prices and processing volumes, impacting overall profitability[7] - The company anticipates that the performance targets for the second vesting period of the restricted stock incentive plan will not be met, leading to a reversal of previously recognized share-based payment expenses[7] - The company has seen a 253.30% increase in notes receivable and a 146.87% increase in accounts receivable financing, driven by higher sales revenue[9] - The company is expanding its production capacity with new projects, including a 3000m3 high-porosity agent production line and a hazardous waste landfill project in Shaoxing[9] - Research and development expenses for the first three quarters of 2023 were RMB 26,368,394.89, compared to RMB 23,406,192.59 in the same period of 2022, marking an increase of approximately 12.6%[23] Accounting and Standards - The company plans to implement the new accounting standards effective January 1, 2023, which may affect future financial reporting and tax liabilities[15] - The net profit for the period was adjusted by RMB 22,446.10 due to the implementation of the new accounting standard, impacting the profit and loss statement significantly[15]