Tongda Electric(SH:603390)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥123,979,318.19, a decrease of 4.63% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥7,797,313.19, with a year-to-date net profit of ¥2,605,485.31, reflecting a significant increase of 23.55% year-on-year[5]. - The basic and diluted earnings per share for Q3 2023 were both -¥0.02, reflecting a decline from the previous year[5]. - The weighted average return on equity was -0.49%, a decrease of 0.43 percentage points compared to the previous year[5]. - The company's net profit for the first three quarters of 2023 was impacted by increased R&D expenses, which totaled RMB 31,893,916.27 compared to RMB 40,190,018.24 in the previous year, reflecting a decrease of about 20.7%[17]. - The net profit for Q3 2023 was 2,077,144.35 RMB, a significant improvement compared to a net loss of 54,021,752.86 RMB in the same period last year[18]. - The total profit for Q3 2023 reached 1,619,466.95 RMB, compared to a total loss of 54,744,312.54 RMB in Q3 2022[18]. - The basic earnings per share for Q3 2023 was 0.01 RMB, compared to a loss per share of -0.15 RMB in the same quarter last year[18]. - The total comprehensive income for Q3 2023 was 1,988,231.87 RMB, compared to a total comprehensive loss of 54,021,752.86 RMB in Q3 2022[18]. Cash Flow and Management - The cash flow from operating activities for the year-to-date period was ¥91,631,748.79, indicating improved cash management[5]. - Operating cash flow for the first nine months of 2023 was 91,631,748.79 RMB, a turnaround from a negative cash flow of -14,298,962.11 RMB in the same period last year[20]. - The company reported a net cash increase of 49,317,052.22 RMB in Q3 2023, compared to a decrease of -119,601,173.40 RMB in Q3 2022[21]. - The cash outflow from investing activities for Q3 2023 was -22,154,623.38 RMB, an improvement from -92,744,817.87 RMB in Q3 2022[21]. Assets and Liabilities - Total assets at the end of Q3 2023 were ¥1,777,271,277.29, down 4.11% from the end of the previous year[6]. - Total assets as of September 30, 2023, were RMB 1,777,271,277.29, down from RMB 1,853,404,214.48 at the end of 2022, a decrease of approximately 4.1%[16]. - Total liabilities decreased to RMB 209,408,523.60 from RMB 288,332,588.71, indicating a reduction of about 27.4%[15]. - Total liabilities amounted to ¥288,452,495.89, with current liabilities at ¥278,448,526.87[24]. - The equity attributable to shareholders increased slightly by 0.16% to ¥1,566,542,948.85 compared to the end of the previous year[6]. - The company's equity attributable to shareholders increased slightly to RMB 1,566,542,948.85 from RMB 1,564,063,479.97, showing a marginal growth of approximately 0.2%[16]. - Shareholders' equity totaled ¥1,565,034,521.39, with a slight decrease in undistributed profits by ¥37,104.38[25]. Revenue and Costs - Total operating revenue for the first three quarters of 2023 reached RMB 370,919,873.58, an increase from RMB 300,226,816.96 in the same period of 2022, representing a growth of approximately 23.4%[17]. - Total operating costs for the first three quarters of 2023 were RMB 371,437,043.72, compared to RMB 351,458,795.15 in 2022, indicating an increase of about 5.6%[17]. - The gross profit margin for the first three quarters of 2023 was approximately 0.14%, down from the previous year's margin, reflecting increased costs[17]. - Revenue from sales of goods and services for the first nine months of 2023 was 306,137,240.09 RMB, up from 270,654,132.74 RMB in the same period of 2022, representing an increase of approximately 13.1%[20]. Operational Highlights - The company received government subsidies amounting to ¥3,085,856.35 during the quarter, contributing positively to financial performance[7]. - The company reported an increase in sales orders and rental income, attributed to effective cost reduction and efficiency improvement measures[8]. - The company is focusing on market expansion and new product development as part of its strategic initiatives[26]. - Future outlook remains positive with ongoing investments in technology and innovation[26]. Inventory and Receivables - Accounts receivable decreased to RMB 299,286,896.07 from RMB 315,243,208.42, a decline of approximately 5.1%[13]. - Inventory levels decreased to RMB 136,955,840.90 from RMB 170,903,167.45, representing a reduction of about 19.9%[14]. - Inventory was reported at ¥170,903,167.45, maintaining consistent levels[23].