振华新材(688707) - 2023 Q3 - 季度财报

Financial Performance - The company's operating revenue for the first three quarters of 2023 decreased by 46.68% year-on-year, primarily due to a decline in lithium salt prices and a slowdown in downstream demand[1]. - Net profit attributable to shareholders for the first three quarters of 2023 dropped by 96.26% year-on-year, influenced by lower product prices and sales volumes[2]. - The company's operating revenue for Q3 2023 was CNY 202,284.58 million, a decrease of 54.68% compared to the same period last year[27]. - The net profit attributable to shareholders for Q3 2023 was CNY 7,338.68 million, down 78.42% year-over-year[27]. - The net profit for the third quarter of 2023 was CNY 37,592,724.84, compared to CNY 1,006,097,492.79 in the same period of 2022, indicating a significant decrease[38]. - The total profit for the third quarter of 2023 was CNY 35,302,476.75, down from CNY 1,148,860,423.00 in the previous year[38]. - The operating profit for the third quarter of 2023 was CNY 44,688,236.32, compared to CNY 1,136,505,865.98 in the same period of 2022[38]. Cash Flow - The net cash flow from operating activities for the first three quarters of 2023 decreased by 20.68% year-on-year, reflecting lower sales revenue and collection[2]. - The net cash flow from operating activities for Q3 2023 was CNY 5,023.75 million, down 44.65% year-over-year[27]. - Cash flow from operating activities for the first three quarters of 2023 was CNY 192,829,938.58, a decrease from CNY 243,094,582.65 in the same period of 2022[39]. - The total cash inflow from operating activities for the first three quarters of 2023 was CNY 4,472,660,954.67, compared to CNY 2,423,248,833.08 in the same period of 2022[39]. - Cash flow from investing activities for the first three quarters of 2023 showed a net outflow of CNY 215,210,911.13, compared to a net outflow of CNY 606,352,105.64 in the previous year[40]. - Cash flow from financing activities for the first three quarters of 2023 resulted in a net outflow of CNY 241,381,144.13, compared to a net outflow of CNY 362,824,231.46 in the same period of 2022[40]. Assets and Liabilities - Total assets as of the end of the reporting period decreased by 20.97% compared to the previous year, mainly due to a decline in receivables and inventory[2]. - The total assets as of September 30, 2023, amounted to CNY 8,749,837,240.31, a decrease from CNY 11,071,740,496.25 at the end of 2022[24]. - The total current assets decreased to CNY 5,574,711,400.21 from CNY 8,194,719,827.31 year-over-year[24]. - The total liabilities of the company as of the end of the reporting period were approximately RMB 4.93 billion, down from RMB 6.98 billion in the previous year[7]. - The company's equity attributable to shareholders decreased by 6.66% year-on-year, amounting to approximately RMB 381.64 million[17]. - The company's total liabilities and equity as of September 30, 2023, were CNY 8,749,837,240.31, down from CNY 11,071,740,496.25 at the end of 2022[24]. Earnings Per Share - The company's basic earnings per share for the reporting period fell by 78.42% year-on-year, driven by a significant drop in net profit[2]. - The company's basic earnings per share for Q3 2023 was CNY 0.1657, a decline of 78.42% compared to the same quarter last year[27]. - The basic earnings per share for the third quarter of 2023 was CNY 0.0849, compared to CNY 2.2714 in the same period of 2022[38]. - The diluted earnings per share for the third quarter of 2023 was also CNY 0.0849, down from CNY 2.2714 in the previous year[38]. - The weighted average return on equity for Q3 2023 was 1.94%, a decrease of 7.37 percentage points year-over-year[27]. Research and Development - Research and development expenses for the reporting period decreased by 70.42% due to lower raw material prices and ongoing cost-reduction efforts in R&D projects[2]. - The company plans to continue focusing on R&D and market expansion despite the current challenges in the lithium market[2]. Shareholder Information - The top ten unrestricted shareholders hold a total of 69,000,000 shares, with the largest shareholder, Zhoushan Xintianyu Growth Equity Investment Partnership, holding 17,958,053 shares[1]. - The second-largest shareholder, Guotou (Shanghai) Technology Achievement Transformation Venture Capital Fund, holds 14,396,049 shares[1]. Accounting Standards - The company has not applied new accounting standards or interpretations for the current year[54]. - The financial report covers the period from January to September 2023, indicating ongoing financial assessments[50].