Hwatsing Technology (SH:688120)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 reached ¥605,848,285.42, representing a year-on-year increase of 45.57%[4] - The net profit attributable to shareholders for Q3 2023 was ¥189,831,966.39, reflecting a growth of 20.77% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date was ¥459,240,941.95, up 72.46% year-on-year[4] - Total operating revenue for the first three quarters of 2023 reached RMB 1,840,273,214.49, a significant increase from RMB 1,133,393,952.59 in the same period of 2022, representing a growth of approximately 62.4%[16] - The total operating revenue for Q3 2023 was approximately $1.84 billion, a significant increase from $1.13 billion in Q3 2022, representing a year-over-year growth of about 62.5%[18] - The net profit for Q3 2023 reached approximately $563.93 million, up from $342.90 million in Q3 2022, reflecting a growth of about 64.2%[20] - The total profit before tax for Q3 2023 was approximately $610.98 million, compared to $377.19 million in Q3 2022, indicating an increase of around 62.0%[20] Research and Development - Research and development expenses totaled ¥75,036,275.81 in Q3 2023, accounting for 12.39% of operating revenue, a decrease of 1.5 percentage points from the previous year[5] - The company reported a significant increase in research and development expenses, totaling approximately $213.75 million in Q3 2023, compared to $142.37 million in Q3 2022, representing a growth of about 50.0%[18] - The company’s market share in the integrated circuit industry has improved, leading to substantial revenue growth driven by increased R&D investment and production capacity[8] Assets and Liabilities - The total assets at the end of Q3 2023 amounted to ¥8,713,017,970.58, an increase of 11.32% compared to the end of the previous year[5] - As of September 30, 2023, total assets amounted to RMB 8,713,017,970.58, up from RMB 7,826,758,909.40 at the end of 2022, indicating an increase of about 11.3%[15] - The company's total liabilities increased to RMB 3,380,160,818.77 from RMB 3,035,893,889.76, which is an increase of approximately 11.4%[15] - Long-term borrowings rose significantly to RMB 506,302,319.12 from RMB 179,849,791.31, representing an increase of about 181%[15] - The equity attributable to shareholders reached RMB 5,332,857,151.81, up from RMB 4,790,865,019.64, indicating a growth of about 11.4%[15] Cash Flow - The company’s cash flow from operating activities for the year-to-date was ¥371,190,527.12, reflecting significant growth due to increased sales and government subsidies[5] - Cash flow from operating activities for the first three quarters of 2023 was approximately $2.09 billion, compared to $1.51 billion in the same period of 2022, showing a growth of about 38.5%[22] - The net cash flow from investing activities for Q3 2023 was approximately $173.78 million, a turnaround from a negative cash flow of about $1.95 billion in Q3 2022[23] - The cash outflow from financing activities for Q3 2023 was approximately $77.93 million, compared to $123.50 million in Q3 2022, showing a decrease of about 37.0%[23] - Net cash flow from financing activities amounted to $420,979,525.67[24] - The net increase in cash and cash equivalents for the period was $965,952,352.24[24] - The ending balance of cash and cash equivalents reached $2,946,439,440.11[24] - The beginning balance of cash and cash equivalents was $1,980,487,087.87[24] - The impact of exchange rate changes on cash and cash equivalents was $248,732.79[24] Earnings Per Share - The company reported a basic earnings per share of ¥1.19 for Q3 2023, which is a 20.20% increase compared to the same period last year[5] - The basic and diluted earnings per share for Q3 2023 were both $3.55, compared to $2.16 in Q3 2022, marking an increase of approximately 64.4%[21] Government Subsidies - The company received government subsidies amounting to ¥31,167,748.10 during Q3 2023, contributing to its financial performance[6] Strategic Focus - The company is focusing on market expansion and new product development, although specific details were not provided in the content[12] Other Financial Metrics - The weighted average return on equity for the year-to-date was 11.15%, down 2.4 percentage points from the previous year[5] - Accounts receivable increased to RMB 575,780,407.75 from RMB 420,344,603.14, marking a rise of about 37%[13] - Inventory decreased to RMB 2,280,336,122.37 from RMB 2,361,225,895.94, showing a decline of approximately 3.4%[13]