Menovo(SH:603538)2023-10-27 16:00Financial Performance - The company's revenue for Q3 2023 was CNY 346,270,699.41, representing a year-on-year increase of 3.87% but a decrease of 24.55% year-to-date [5]. - Net profit attributable to shareholders for Q3 2023 was CNY 23,684,119.10, down 19.28% year-on-year and down 74.51% year-to-date [5]. - The net profit excluding non-recurring gains and losses for Q3 2023 was CNY 27,314,956.32, a decrease of 32.89% year-on-year and down 74.94% year-to-date [6]. - Basic earnings per share for Q3 2023 was CNY 0.11, a decrease of 26.01% year-on-year, while diluted earnings per share was CNY 0.10, down 21.70% year-on-year [6]. - Total operating revenue for the first three quarters of 2023 was CNY 928,533,649.58, a decrease of 24.5% compared to CNY 1,230,689,519.71 in the same period of 2022 [19]. - Net profit for the third quarter of 2023 was CNY 59,965,075.86, a decline of 74.4% compared to CNY 234,845,177.06 in the same quarter of 2022 [21]. - The company reported a total comprehensive income of CNY 59,718,451.47 for the third quarter of 2023, down from CNY 234,404,956.28 in the same quarter of 2022 [22]. Assets and Liabilities - Total assets at the end of Q3 2023 were CNY 4,651,846,902.35, an increase of 5.26% compared to the end of the previous year [6]. - Total current assets amount to ¥1,894,382,271.16, a decrease from ¥2,045,493,489.68 at the end of 2022 [15]. - Total current liabilities are ¥1,469,032,754.60, compared to ¥1,362,219,397.20 at the end of 2022 [16]. - Total liabilities as of the end of the third quarter of 2023 were CNY 2,431,912,717.54, an increase of 8.2% from CNY 2,246,218,288.08 at the end of 2022 [20]. - The company’s total assets at the end of the third quarter of 2023 were CNY 4,651,846,902.35, an increase from CNY 4,419,458,473.75 at the end of 2022 [20]. Cash Flow - Cash flow from operating activities was negative CNY 115,740,458.85 year-to-date, reflecting a decrease of 143.71% compared to the previous year [6]. - Cash inflow from operating activities for the first three quarters of 2023 was CNY 938,348,870.53, a decrease of 29.0% compared to CNY 1,322,500,526.75 in the previous year [23]. - The net cash flow from operating activities was -$115.74 million, a significant decrease compared to $264.79 million in the same quarter last year [24]. - The total cash outflow from operating activities was $1.05 billion, nearly unchanged from $1.06 billion in the previous year [24]. - The company reported a cash outflow of $1.18 billion from investment activities, an increase from $1.11 billion year-over-year [24]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 38,542 [12]. - The largest shareholder, Ningbo Meinuo Holdings Group Co., Ltd., holds 44,985,661 shares, accounting for 21.08% of total shares [12]. Investments and Expenses - The company has invested ¥682,655,229.20 in construction projects, up from ¥502,884,972.39 in the previous year [16]. - Research and development expenses for the first three quarters of 2023 were CNY 64,348,322.51, a decrease of 9.4% compared to CNY 71,033,633.43 in the same period of 2022 [20]. Other Financial Metrics - The company experienced a decline in gross margin by 8.37 percentage points year-on-year, attributed to changes in product lines and capacity ramp-up [10]. - The company received government subsidies amounting to CNY 3,662,909.41 during the reporting period, contributing to its financial performance [8]. - The net profit excluding non-recurring gains and losses showed a quarter-on-quarter increase of 97.21% in Q3 2023, indicating a recovery in profit levels [10]. - Inventory has increased to ¥700,926,678.05 from ¥594,415,030.12 year-over-year [15]. - Short-term borrowings increased to ¥562,840,010.00 from ¥465,280,500.00 year-over-year [16]. - The company has engaged in securities lending, with 300,000 shares lent out by Ningbo Meinuo Holdings Group Co., Ltd. [13].