SITONG(SH:603838)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥51,151,830.05, representing a decrease of 5.46% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2023 was -¥12,607,627.61, with a year-to-date net profit of -¥24,676,908.18, indicating a significant decline[5]. - The basic earnings per share for Q3 2023 was -¥0.0394, consistent with the diluted earnings per share, both showing a decline compared to the previous year[6]. - The weighted average return on equity for Q3 2023 was -1.2430%, a decrease of 0.9342 percentage points from the previous year[6]. - Total operating revenue for the first three quarters of 2023 was ¥138,776,404.28, a decrease of 26.4% compared to ¥188,469,919.06 in the same period of 2022[20]. - Operating profit for the first three quarters of 2023 was a loss of ¥23,316,580.12, compared to a loss of ¥3,656,131.27 in the same period of 2022[21]. - Net profit for the first three quarters of 2023 was a loss of ¥24,676,908.18, worsening from a loss of ¥4,315,715.97 in the same period of 2022[22]. Cash Flow and Liquidity - The cash flow from operating activities for Q3 2023 was -¥3,307,121.37, with a year-to-date cash flow of -¥10,231,904.77, reflecting ongoing financial challenges[6]. - Cash flow from operating activities showed a net outflow of ¥10,231,904.77, compared to a net inflow of ¥6,222,963.40 in the same period of 2022[24]. - The net cash flow from financing activities was -12,813,437.91, indicating a significant outflow[25]. - The cash and cash equivalents at the end of the period totaled 85,921,503.21, an increase from the beginning balance of 52,900,075.95[25]. - The net increase in cash and cash equivalents for the period was 33,021,427.26, contrasting with a decrease of -49,228,634.06 in the previous period[25]. - Cash and cash equivalents as of September 30, 2023, were CNY 2,621,503.21, down from CNY 43,880,075.95 at the end of 2022, a significant decrease of about 94.03%[16]. Assets and Liabilities - Total assets at the end of Q3 2023 were ¥1,065,500,101.30, down 4.57% from the end of the previous year[6]. - The total liabilities decreased to CNY 57,546,358.51 from CNY 68,717,445.27, indicating a reduction of about 16.21%[18]. - The total equity attributable to shareholders decreased to CNY 1,007,953,742.79 from CNY 1,045,431,290.97, representing a decline of approximately 3.59%[19]. - The company's total current assets were CNY 692,594,921.91, down from CNY 712,688,238.98, indicating a decrease of approximately 2.25%[17]. - The company's total liabilities to total assets ratio improved to approximately 5.40% from 6.16%[18]. Operational Costs and Expenses - The decline in net profit was primarily attributed to decreased product sales revenue and increased operating costs, alongside higher promotional expenses for market expansion[10]. - Total operating costs decreased to ¥170,131,566.32 from ¥209,572,848.34, representing a reduction of 18.8%[20]. - Research and development expenses decreased to ¥6,836,641.90 from ¥9,236,076.10, a reduction of 26.0%[20]. - Sales expenses increased to ¥8,506,967.53 from ¥4,821,541.96, an increase of 76.0%[20]. Income and Investments - The company reported a significant increase in non-operating income from fair value changes of financial assets, amounting to ¥2,748,635.86 for Q3 2023[9]. - Other income rose to ¥5,807,323.41 from ¥4,845,211.56, an increase of 19.8%[20]. - Investment income significantly increased to ¥11,456,886.71 from ¥1,834,435.15, representing a growth of 524.5%[20]. - The long-term equity investments increased to CNY 1,748,042.52 from CNY 1,188,039.62, representing an increase of about 47.18%[17]. Future Outlook - The company has indicated plans to enhance its market presence both domestically and internationally, which may involve increased marketing expenditures[10].