Wencan(SH:603348)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥1,258,597,570.49, a decrease of 12.98% compared to the same period last year[6]. - Net profit attributable to shareholders for Q3 2023 was ¥35,789,356.81, down 70.78% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥29,789,968.74, a decline of 74.23% compared to the previous year[6]. - Basic earnings per share for Q3 2023 were ¥0.1358, a decrease of 71.25% year-on-year[7]. - Total operating revenue for the first three quarters of 2023 was CNY 3,820,163,020.20, a decrease of 1.75% compared to CNY 3,888,313,635.67 in the same period of 2022[21]. - Net profit for the first three quarters of 2023 was CNY 49,699,985.43, a decline of 80.77% compared to CNY 258,646,306.44 in the previous year[22]. - The company reported a total comprehensive income of CNY 138,318,129.55 for the first three quarters of 2023, compared to CNY 253,514,370.11 in the same period last year[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,458,949,938.01, an increase of 1.47% from the end of the previous year[7]. - The total assets of the company as of the end of Q3 2023 were CNY 7,458,949,938.01, compared to CNY 7,350,644,115.64 at the end of Q3 2022[18]. - Total liabilities decreased to CNY 4,284,267,186.60 from CNY 4,304,037,884.77 year-on-year[18]. - The company's total equity increased to CNY 3,174,682,751.41, up from CNY 3,046,606,230.87 in the previous year[18]. Cash Flow - The company reported a cash flow from operating activities of ¥429,568,390.19 for the year-to-date, an increase of 26.84%[7]. - In the first three quarters of 2023, the cash inflow from operating activities was CNY 3,893,232,648.52, an increase of 8.0% compared to CNY 3,605,398,837.11 in the same period of 2022[26]. - The net cash flow from operating activities for the first three quarters of 2023 was CNY 429,568,390.19, up 26.9% from CNY 338,675,436.69 in the first three quarters of 2022[26]. - The cash inflow from financing activities totaled CNY 1,246,026,425.00, compared to CNY 793,370,592.40 in the previous year, marking a significant increase of 57.1%[28]. - The net cash flow from financing activities was CNY 145,315,998.09, a decrease of 2.1% from CNY 148,362,538.81 in the same period of 2022[28]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,553[12]. - The top 10 shareholders collectively control 34.08% of the company's shares, with the largest shareholders being Tang Jiexiong and Tang Jiebang, each holding 11.36%[13]. Current Assets - As of September 30, 2023, total current assets amount to CNY 2,497,206,591.99, a decrease from CNY 2,771,078,290.65 at the end of 2022, representing a decline of approximately 9.86%[16]. - Cash and cash equivalents decreased to CNY 345,957,234.25 from CNY 459,485,781.86, a decline of about 24.69%[16]. - Accounts receivable decreased to CNY 1,220,800,976.88 from CNY 1,296,283,287.91, a decrease of approximately 5.85%[16]. - Inventory decreased to CNY 631,133,167.03 from CNY 723,330,055.60, representing a decline of about 12.76%[16]. Operational Challenges - The company faced increased costs due to rising labor, quality, and energy expenses, as well as fluctuations in raw material prices, impacting profitability[10]. - The company is currently in a loss phase due to equipment upgrades and delays in product delivery at its Mexican foundry[10]. - The competitive landscape in the domestic automotive industry and global manufacturers has intensified, affecting production volumes for some customers[10]. Research and Development - Research and development expenses for the first three quarters were CNY 112,451,911.83, slightly up from CNY 110,343,309.94 in the same period last year[22]. - The company has not disclosed any new product developments or market expansion strategies in the current report[14].