KENGIC(SH:688455)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥113,306,495.37, a decrease of 62.10% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2023 was -¥19,054,657.76, with a year-to-date net profit of -¥58,400,970.58, indicating significant losses[4]. - Total operating revenue for the first three quarters of 2023 was ¥468,956,599.82, a decrease of 30.96% compared to ¥680,478,523.60 in the same period of 2022[20]. - Net profit for the third quarter of 2023 was a loss of ¥58,400,970.58, compared to a loss of ¥16,419,247.58 in the same quarter of 2022, indicating a significant increase in losses[22]. - In Q3 2023, the company reported a total comprehensive loss attributable to the parent company of CNY -58,532,966.78, compared to a loss of CNY -16,855,981.55 in Q3 2022, indicating a significant decline in performance[23]. - The basic and diluted earnings per share for Q3 2023 were both CNY -0.32, worsening from CNY -0.12 in the same period last year[23]. Research and Development - Research and development expenses totaled ¥18,168,597.67 in Q3 2023, accounting for 16.03% of operating revenue, an increase of 10.97 percentage points year-on-year[5]. - Research and development expenses for the first three quarters of 2023 were ¥53,737,936.58, up from ¥46,979,083.02 in the same period of 2022, reflecting a focus on innovation[21]. - The company is focusing on diversifying its competitive strategy and increasing R&D investment to explore new industries and clients[9]. Assets and Liabilities - Total assets increased by 9.18% year-on-year to ¥2,756,817,688.62 as of the end of Q3 2023[5]. - The company's total assets as of the end of the third quarter of 2023 were ¥2,756,817,688.62, an increase from ¥2,525,124,592.57 at the end of the same quarter in 2022[17]. - Total liabilities for the third quarter of 2023 were ¥1,519,662,544.29, compared to ¥1,197,080,784.78 in the previous year, representing an increase of 26.93%[17]. - The total equity attributable to shareholders of the parent company decreased to ¥1,237,155,144.33 from ¥1,328,043,807.79 year-over-year, indicating a decline in shareholder value[17]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was -¥80,989,311.19, indicating cash flow challenges[4]. - For the first three quarters of 2023, cash inflows from operating activities totaled CNY 1,169,721,651.34, an increase from CNY 1,042,400,679.27 in the same period of 2022[24]. - The net cash flow from operating activities for the first three quarters of 2023 was CNY -80,989,311.19, an improvement from CNY -197,808,757.41 in the previous year[25]. - The company generated CNY 248,730,243.03 in net cash flow from investing activities in the first three quarters of 2023, compared to a negative cash flow of CNY -984,069.82 in the same period of 2022[25]. - Cash and cash equivalents at the end of Q3 2023 amounted to CNY 289,686,495.70, down from CNY 1,169,007,807.75 at the end of Q3 2022[26]. - The company reported cash and cash equivalents of RMB 353,546,512.68 as of September 30, 2023, up from RMB 264,498,000.63 at the end of 2022, indicating a growth of approximately 33.6%[15]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,949[12]. - The top shareholder, Qingdao Yijie Technology Equipment Co., Ltd., holds 31,000,000 shares, accounting for 17.14% of total shares[12]. - The second-largest shareholder, Shenzhen Shunfeng Investment Co., Ltd., owns 20,145,524 shares, representing 11.14%[12]. - The company has a total of 10 major shareholders, with the top 10 holding a significant portion of the shares[12]. Operational Challenges - The company reported a decrease in new orders signed in 2022, leading to a decline in revenue recognition in Q3 2023[9]. - The company faced increased operational costs due to the complexity of new industry projects and a decrease in government subsidies received[9]. - The company's cash and cash equivalents decreased significantly, impacting liquidity and operational flexibility[19]. - The company experienced a foreign exchange loss of CNY -2,329,301.50 in Q3 2023, contrasting with a gain of CNY 14,358,514.58 in Q3 2022[26]. Future Outlook - The company plans to expand its market presence and invest in new technologies to drive future growth[19]. - The company has not disclosed any new product or technology developments in the current reporting period[14]. - There are no significant mergers or acquisitions reported during this quarter[14].