JiHuaGroup(SH:603980)2023-10-26 16:00Financial Performance - The company's revenue for Q3 2023 was approximately ¥424.37 million, representing a 3.27% increase compared to ¥410.94 million in the same period last year[5]. - The net profit attributable to shareholders was a loss of approximately ¥24.00 million, an improvement of 13.75% from a loss of ¥27.61 million in the previous year[5]. - The basic earnings per share for Q3 2023 was -¥0.03, a 25% improvement from -¥0.04 in the same period last year[6]. - Net profit for Q3 2023 was a loss of CNY 65,302,788.20, compared to a loss of CNY 40,883,945.83 in Q3 2022, reflecting a deterioration in performance[21]. - The company's total comprehensive income attributable to the parent company for the third quarter was -CNY 61,909,517.51, compared to -CNY 41,878,857.26 in the previous year, reflecting a deeper loss[22]. - Basic and diluted earnings per share for the third quarter were both -CNY 0.09, worsening from -CNY 0.06 in the same quarter of the previous year[22]. Assets and Liabilities - Total assets decreased by 9.21% to approximately ¥4.76 billion from ¥5.24 billion at the end of the previous year[6]. - The company's total assets decreased to CNY 4,757,182,941.61 in Q3 2023 from CNY 5,239,948,085.50 in Q3 2022, a decline of approximately 9.2%[19]. - Total liabilities decreased to CNY 683,516,953.76 in Q3 2023 from CNY 1,042,338,361.39 in Q3 2022, a reduction of about 34.5%[18]. - The company's equity attributable to shareholders decreased to CNY 4,056,457,016.33 in Q3 2023 from CNY 4,173,958,281.90 in Q3 2022, a decline of approximately 2.8%[19]. Cash Flow - The net cash flow from operating activities was -¥94.65 million, indicating a significant decline compared to -¥20.25 million in the previous year[6]. - The net cash flow from operating activities for the first three quarters of 2023 was -CNY 94,649,051.29, compared to -CNY 20,248,080.96 in the previous year, indicating a worsening performance[25]. - The total cash inflow from investment activities was CNY 1,209,439,689.55, down from CNY 3,594,898,175.94 in the same period last year, reflecting a decline of approximately 66%[25]. - The cash flow from financing activities resulted in a net outflow of -CNY 203,213,355.67, compared to a net inflow of CNY 42,161,115.47 in the same period last year, indicating a significant shift[26]. - The company reported a total cash outflow from operating activities of CNY 614,021,725.28, compared to CNY 677,021,692.16 in the previous year, indicating a reduction in cash outflow[25]. Accounts Receivable and Financial Assets - The company reported a 156.39% increase in accounts receivable, primarily due to changes in collection policies[10]. - The company reported a decrease in accounts receivable to 495.76 million RMB from 193.36 million RMB year-on-year, indicating increased sales pressure[16]. - The company experienced a significant increase in financial asset impairment losses, totaling CNY 19,571,543.05 in Q3 2023 compared to CNY 14,786,932.62 in Q3 2022[21]. - The net profit attributable to shareholders of the listed company decreased by 47.83 million RMB, primarily due to changes in the fair value of financial assets[11]. Operational Adjustments - The company is undergoing adjustments in accounting practices as per the revised accounting standards issued by the Ministry of Finance[7]. - The company recorded non-recurring gains of approximately ¥2.90 million from government subsidies related to normal business operations[9]. - The company's financial expenses decreased by 73.83 million RMB, mainly due to increased investment income during the period[11]. - The company recorded an asset disposal gain of 669.78 million RMB, primarily from the disposal of land by a subsidiary[11]. - The company's short-term borrowings decreased by 52.17 million RMB, reflecting loan repayments during the period[11]. - The company's deferred income tax liabilities decreased by 49.77 million RMB due to changes in the fair value of financial assets[11]. Research and Development - Research and development expenses for the first three quarters of 2023 were CNY 60,601,476.09, a decrease from CNY 71,485,219.35 in the same period of 2022[20]. - The company reported an investment income of CNY 56,850,349.37 for the first three quarters of 2023, down from CNY 75,268,153.87 in the same period of 2022[20].