MGI(SH:688114)2023-10-27 16:00Financial Performance - The company's revenue for Q3 2023 was ¥760,361,916.01, representing a decrease of 18.15% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2023 was a loss of ¥99,748,666.98, a decline of 105.94% year-over-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was a loss of ¥107,613,192.39, a decrease of 344.39% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2023 was ¥2,203,817,662.21, a decrease of 33% compared to ¥3,289,726,785.33 in the same period of 2022[28] - Net profit for Q3 2023 was -¥196,914,261.58, compared to a net profit of ¥2,019,708,946.39 in Q3 2022, indicating a significant decline in profitability[30] - The company's total liabilities decreased to ¥1,735,517,555.67 in Q3 2023 from ¥1,765,726,951.92 in Q3 2022, showing improved financial stability[27] - The total equity attributable to shareholders decreased to ¥9,167,893,436.28 in Q3 2023 from ¥9,413,106,604.03 in Q3 2022, reflecting the impact of losses on shareholder value[27] Research and Development - The total R&D expenditure for Q3 2023 was ¥210,032,149.17, accounting for 27.62% of revenue, an increase of 6.76 percentage points year-over-year[5] - Research and development expenses for the first three quarters of 2023 were ¥642,126,015.36, an increase from ¥525,315,877.13 in the same period of 2022, highlighting a focus on innovation[28] - Increased R&D investment and accelerated overseas market expansion contributed to the overall loss in net profit[9] - The company has obtained 389 domestic patents and 347 foreign patents as of September 30, 2023, including 183 invention patents domestically[17] Sales and Market Expansion - The company experienced a significant decline in revenue due to a decrease in demand for automation products[9] - In the first three quarters of 2023, the company achieved a total revenue of RMB 2,193.26 million, with the gene sequencer segment generating RMB 1,728.90 million, a year-on-year increase of 31.47%[15] - Revenue from gene sequencer instruments reached RMB 670.97 million, up 15.63% year-on-year, while reagent consumables revenue was RMB 1,026.09 million, increasing by 42.92%[15] - The company sold over 640 new gene sequencer units globally in the first three quarters, bringing the total installed base to over 3,100 units[17] - Revenue from the Asia-Pacific region increased by 34.12% year-on-year, reaching RMB 287.86 million, while revenue from the Americas grew by 85.83% to RMB 101.21 million[15] - The company is focused on international expansion while enhancing local development in four major regions[16] Shareholder Actions - On September 11, 2023, the company released 178,070,745 shares for trading, accounting for 42.84% of the total share capital[19] - The company plans to repurchase shares with a total fund amounting to no less than RMB 250 million and no more than RMB 500 million, with a maximum repurchase price of RMB 125.00 per share[20] - The company has established a dedicated securities account for the share repurchase but has not yet executed the buyback[20] - The company plans to use self-owned funds for the share repurchase and adjustments to fundraising projects[21] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was -¥891,616,359.00, a decline of 143.02%[5] - The company's cash and cash equivalents decreased to RMB 5,155,083,547.48 from RMB 6,475,451,793.46 at the end of 2022, representing a decline of approximately 20.4%[24] - The company reported a significant decrease in cash received from sales of goods and services, totaling CNY 2,155,617,566.18, compared to CNY 3,274,698,947.83 in the same period last year[33] - The company recorded cash inflow from financing activities of CNY 338,695,951.80, a decrease from CNY 3,349,475,153.82 in the previous year[35] - The company's investment activities resulted in a net cash outflow of CNY -561,880,400.84, compared to a net cash outflow of CNY -304,666,093.86 in the previous year[35] Operational Adjustments - The company has approved adjustments to several fundraising projects, including the postponement of the "Hua Da Intelligent Manufacturing and R&D Base Project" and the addition of Wuhan Hua Da Intelligent Manufacturing Bioengineering Co., Ltd. as an implementation entity[21] - The company completed the election of its second board of directors and supervisory board, with new members appointed on October 10, 2023[22] - Short-term borrowings increased to RMB 100,070,000.00 from RMB 50,036,805.56, reflecting a rise of approximately 99.5%[25] - The company reported a significant increase in sales expenses to ¥560,220,736.96 in Q3 2023, compared to ¥499,166,971.27 in Q3 2022, indicating higher marketing efforts[28]