SONGFA(SH:603268)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥64,100,476.19, a decrease of 29.03% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of ¥23,745,988.57, with a year-to-date loss of ¥63,461,728.73[5] - The basic earnings per share for Q3 2023 was -¥0.19, and the diluted earnings per share was also -¥0.19[6] - Total operating revenue for the first three quarters of 2023 was CNY 155,510,358.94, a decrease of 20.36% compared to CNY 195,273,086.05 in the same period of 2022[19] - Net loss for the third quarter of 2023 was CNY 63,643,067.15, an improvement from a net loss of CNY 97,280,554.43 in the same quarter of 2022[21] - Basic and diluted earnings per share for Q3 2023 were both CNY -0.51, an improvement from CNY -0.78 in Q3 2022[22] - The total comprehensive loss for the third quarter of 2023 was CNY 63,643,067.15, compared to a total comprehensive loss of CNY 97,280,554.43 in the same quarter of 2022[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥621,457,914.50, representing a decrease of 4.51% from the end of the previous year[6] - The total liabilities increased to CNY 474,847,479.63 in Q3 2023 from CNY 440,446,438.01 in Q3 2022, reflecting a growth of 7.3%[20] - The total equity attributable to shareholders decreased to CNY 128,696,433.27 in Q3 2023 from CNY 191,938,337.83 in Q3 2022, a decline of 32.9%[20] - Current liabilities totaled ¥433,236,728.19, an increase from ¥405,252,096.76 year-over-year[16] - The company reported a decrease in short-term borrowings to ¥178,456,580.82 from ¥213,389,296.21[16] Cash Flow - Cash flow from operating activities for the year-to-date was -¥17,005,929.34, reflecting a significant decline of 704.90%[5] - In the first three quarters of 2023, the net cash flow from operating activities was -17,005,929.34, a decline from 2,811,341.92 in the same period of 2022, indicating a significant decrease in operational efficiency[23] - Total cash inflow from operating activities was 229,841,531.77, down 17.5% from 278,633,353.08 in the first three quarters of 2022[23] - Cash outflow from operating activities totaled 246,847,461.11, a decrease of 10.5% compared to 275,822,011.16 in the previous year[23] - The net cash flow from investing activities was -7,101,963.97, an improvement from -24,809,659.03 in the same period of 2022, reflecting better investment management[24] - Cash inflow from financing activities was 238,400,000.00, down 35.3% from 368,636,644.86 in the first three quarters of 2022[24] - The net cash flow from financing activities improved to 33,250,892.51, compared to -3,550,482.60 in the same period last year, indicating a positive shift in financing strategy[24] - The ending balance of cash and cash equivalents increased to 25,148,081.24, compared to 4,513,668.11 at the end of the previous year, showing improved liquidity[24] Expenses - Research and development expenses decreased by 32.89% year-to-date, primarily due to reduced investment in R&D by the company and its subsidiary[10] - Financial expenses increased by 137.30% year-to-date, mainly due to reduced foreign exchange gains from USD fluctuations[10] - Research and development expenses for Q3 2023 were CNY 4,543,815.00, down 32.9% from CNY 6,770,343.61 in Q3 2022[20] - Financial expenses for Q3 2023 were CNY 12,578,666.34, significantly higher than CNY 5,300,812.37 in Q3 2022, indicating increased borrowing costs[20] - Payments to employees decreased to 53,613,083.32, down 19.0% from 66,250,716.67 in the same period last year, reflecting cost-cutting measures[23] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 6,221[12] - The largest shareholder, Hengli Group Co., Ltd., holds 37,428,000 shares, representing 30.14% of total shares[12] Inventory and Receivables - Accounts receivable decreased to ¥89,557,931.33 from ¥108,717,590.42 year-over-year[15] - Inventory increased to ¥166,346,804.26 from ¥159,340,986.31 year-over-year[15] Other Information - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[14] - Deferred income decreased to CNY 6,514,177.42 in Q3 2023 from CNY 7,926,351.24 in Q3 2022, a reduction of 17.8%[20] - The company received tax refunds amounting to 5,837,925.82, a decrease of 69.5% from 19,132,558.41 in the first three quarters of 2022[23] - The company reported a cash inflow of 85,000,000.00 from other financing activities, a decrease of 58.1% from 202,500,000.00 in the previous year[24]