Forest Packaging(SH:605500)2023-10-30 16:00Financial Performance - Q3 2023 revenue was CNY 612,547,462.14, a decrease of 6.19% year-over-year, and year-to-date revenue was CNY 1,680,947,397.13, down 17.34% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2023 was CNY 48,832,761.26, an increase of 23.99% year-over-year, while year-to-date net profit was CNY 94,177,675.77, down 16.48%[5] - Basic earnings per share for Q3 2023 was CNY 0.12, up 20.00% year-over-year, while year-to-date basic earnings per share decreased by 14.81% to CNY 0.23[6] - Total operating revenue for the first three quarters of 2023 was CNY 1,680,947,397.13, a decrease from CNY 2,033,510,126.73 in the same period of 2022, representing a decline of approximately 17.3%[18] - Total comprehensive income for Q3 2023 was CNY 94,108,040.35, compared to CNY 112,663,681.15 in Q3 2022, reflecting a decrease of 16.5%[20] Assets and Liabilities - Total assets at the end of Q3 2023 were CNY 2,961,444,870.45, an increase of 7.58% from the end of the previous year[6] - Total liabilities as of September 30, 2023, were CNY 353,788,396.94, compared to CNY 254,863,654.16 in the previous year, showing an increase of around 38.7%[17] - The total equity attributable to shareholders as of September 30, 2023, was CNY 2,391,465,434.93, up from CNY 2,342,088,321.86 at the end of 2022, marking an increase of about 2.1%[17] - Cash and cash equivalents as of September 30, 2023, were CNY 356,048,293.57, down from CNY 426,867,319.01 at the end of 2022, indicating a decrease of approximately 16.5%[15] - Accounts receivable as of September 30, 2023, totaled CNY 214,000,846.91, compared to CNY 236,574,991.20 at the end of 2022, reflecting a decline of about 9.6%[15] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 104,865,904.36, down 16.39% due to reduced sales revenue[5] - Cash flow from operating activities for the first three quarters of 2023 was CNY 104,865,904.36, down from CNY 125,421,747.87 in the same period last year[21] - The net cash flow from investment activities was -$215,655,707.62, compared to a positive cash flow of $82,997,787.67 in the previous period[22] - Total cash inflow from financing activities was $92,153,024.77, down from $123,000,000.00 in the prior period[22] - The net cash flow from financing activities was $47,750,550.10, a significant improvement from a negative cash flow of -$88,029,740.15 in the previous period[22] Shareholder Information - The company had a total of 14,775 common shareholders at the end of the reporting period[10] - Major shareholders include Lin Qijun with 22.34% and Lin Qiqun with 19.15% of shares[11] Operating Costs and Expenses - Total operating costs for the first three quarters of 2023 amounted to CNY 1,632,774,761.91, down from CNY 2,012,868,127.11 in 2022, indicating a reduction of about 19%[18] - Research and development expenses in Q3 2023 were CNY 58,088,610.83, a decrease of 20.2% compared to CNY 72,845,032.10 in Q3 2022[19] - Sales expenses in Q3 2023 were CNY 22,188,768.00, a decrease of 6.5% from CNY 23,741,667.67 in Q3 2022[19] - The company reported a decrease in tax expenses to CNY 11,750,510.32 in Q3 2023 from CNY 609,084.53 in Q3 2022[19] Other Information - The company received CNY 52,224,805.16 in non-recurring gains, primarily from VAT refunds and government subsidies related to daily operations[8] - The decline in year-to-date revenue was attributed to lower product sales prices compared to the previous year[8] - The company reported a significant increase in non-current assets, totaling CNY 1,647,220,991.10 as of September 30, 2023, compared to CNY 1,451,885,207.64 at the end of 2022, representing a growth of approximately 13.5%[16] - The company’s short-term borrowings were not specified in the report, indicating a potential focus on managing liquidity and financial stability[17] - The company has not disclosed any new product developments or market expansion strategies in the current report[14]