Jilin Joinature Polymer (SH:688716)2023-10-29 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 48,192,659.30, a decrease of 30.75% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 2,839,365.43, down 82.18% year-on-year[4]. - The basic earnings per share for Q3 2023 was CNY 0.03, reflecting a decline of 82.35% compared to the previous year[5]. - Net profit for the third quarter of 2023 was ¥26,455,819.59, down from ¥39,702,098.38 in the same quarter of 2022, reflecting a decrease of approximately 33%[22]. - Basic and diluted earnings per share for the third quarter of 2023 were both ¥0.29, compared to ¥0.44 in the same quarter of 2022, a decline of about 34%[22]. Research and Development - Research and development (R&D) expenses totaled CNY 6,968,856.48, an increase of 64.28% year-on-year, representing 14.46% of operating revenue[5]. - The R&D investment as a percentage of operating revenue increased by 137.24% in the current period, indicating a strategic focus on innovation[10]. - Research and development expenses for the third quarter of 2023 amounted to ¥17,647,664.19, up from ¥11,588,492.39 in the same quarter of 2022, indicating an increase of about 52%[21]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,350,052,688.03, an increase of 183.97% compared to the end of the previous year[5]. - As of September 30, 2023, the total current assets amounted to CNY 1,141,213,151.60, a significant increase from CNY 314,794,783.81 at the end of 2022, representing a growth of approximately 262.5%[15]. - The total liabilities decreased to CNY 118,292,076.50 from CNY 125,853,330.78, indicating a reduction of about 6.5%[16]. - Total liabilities as of the end of the third quarter of 2023 were ¥196,608,092.42, compared to ¥148,148,938.22 at the end of the same quarter in 2022, representing an increase of approximately 32.5%[21]. - The total assets of the company at the end of the third quarter of 2023 amounted to ¥1,350,052,688.03, compared to ¥475,424,335.71 at the end of the same quarter in 2022, indicating an increase of about 184%[21]. Cash Flow - The net cash flow from operating activities showed a significant decline of 357.11% year-to-date, primarily due to increased cash payments for raw materials[10]. - The net cash flow from operating activities was -38,430,516.99, a decrease compared to 14,946,946.44 in the previous year[26]. - Cash generated from operating activities for the first three quarters of 2023 was ¥97,107,332.14, an increase from ¥90,930,054.86 in the same period of 2022, showing a growth of approximately 6.4%[25]. - Cash inflow from operating activities amounted to 106,466,692.56, an increase from 96,941,977.08 in the previous year[26]. - Cash outflow from operating activities was 144,897,209.55, compared to 81,995,030.64 in the same period last year[26]. Shareholder Information - The top shareholder, Xie Huaijie, holds 30.35% of the shares, with a total of 36,928,382 shares[12]. - The second-largest shareholder, Feng Jinxiang, owns 8.19% of the shares, totaling 9,965,019 shares[12]. Strategic Adjustments - The company adjusted its sales policies, leading to a decrease in average selling prices and an increase in production costs, which negatively impacted profitability[9]. - The company experienced a significant drop in net profit due to increased operating expenses and adjustments in sales strategies[10]. - The company has not reported any significant new strategies or product developments during this quarter[14]. Investment Activities - The company invested 69,835,992.72 in fixed assets, intangible assets, and other long-term assets, compared to 26,223,396.80 in the previous year[26]. - The company received 833,390,564.52 in cash from investment activities, indicating strong capital inflow[26].