XWXN(SH:688778)2023-10-24 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 5,000,996,005.13, a decrease of 36.71% compared to CNY 7,727,240,608.60 in the same period last year[8] - Net profit attributable to shareholders was CNY 157,729,422.22, down 53.95% from CNY 326,551,536.50 year-on-year[8] - The basic earnings per share decreased to CNY 0.37, representing a decline of 58.95% compared to CNY 0.87 in the previous year[8] - Total operating revenue for the first three quarters of 2023 was CNY 13,122,438,075.54, a decrease of 41.0% compared to CNY 22,470,032,802.67 in the same period of 2022[22] - Operating profit for the first three quarters of 2023 was CNY 450,715,332.87, a decline of 54.5% from CNY 989,672,591.20 in the previous year[22] - The net profit for the first three quarters of 2023 was CNY 413.25 million, down from CNY 899.14 million in the same period of 2022, indicating a decrease of approximately 54%[45] - The company reported a significant decline in product sales due to market slowdown and inventory destocking, impacting overall profitability[33] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was CNY 1,498,539,478.15, compared to a negative cash flow of CNY -1,280,558,968.22 in the same period last year[8] - The cash flow from operating activities for the first three quarters of 2023 was CNY 1.50 billion, compared to a negative cash flow of CNY 1.29 billion in the same period of 2022[47] - The company’s cash outflow for purchasing goods and services was CNY 8.40 billion in the first three quarters of 2023, down from CNY 12.09 billion in the same period of 2022, a decrease of about 30%[47] - The company’s cash flow from investment activities for the first three quarters of 2023 was CNY 1.05 billion, significantly higher than CNY 300 million in the same period of 2022[47] - Net cash flow from investing activities was negative at approximately -$1.07 billion, compared to -$252.08 million in the previous period, showing a significant increase in cash outflow[57] Assets and Liabilities - The total assets of the company as of the end of the reporting period amounted to CNY 13,886,694,984.81, down from CNY 15,380,365,316.92 year-on-year[20] - The total liabilities decreased to CNY 5,168,448,552.46 from CNY 7,030,205,879.46, reflecting a decline of about 26.5%[20] - The total assets as of September 30, 2023, were CNY 13.89 billion, a decrease from CNY 15.38 billion at the end of 2022, reflecting a decline of about 9.7%[49] - The total liabilities as of September 30, 2023, were CNY 8.53 billion, down from CNY 11.05 billion at the end of 2022, showing a decrease of approximately 22%[49] Equity and Reserves - The company's capital reserve was CNY 6,021,660,466.54, down from CNY 6,141,703,962.57 year-on-year[20] - The company's total equity attributable to shareholders increased to CNY 8,461,814,991.34 from CNY 8,199,543,116.53 year-on-year[20] Research and Development - Research and development expenses for the first three quarters of 2023 amounted to CNY 323,985,176.47, a decrease of 45.4% compared to CNY 593,290,982.27 in the same period of 2022[22] Earnings and Shareholder Returns - Net profit attributable to the parent company's shareholders was approximately $412.39 million, a decrease from $892.20 million in the previous period, representing a decline of about 53.8%[54] - Total comprehensive income attributable to the parent company's shareholders was approximately $412.37 million, down from $886.63 million, reflecting a decrease of about 53.5%[54] - Basic and diluted earnings per share were both $0.98, compared to $2.48 in the previous period, indicating a decline of approximately 60.5%[54] Cash and Financing Activities - Cash and cash equivalents at the end of the period totaled approximately $1.33 billion, down from $2.35 billion, indicating a decrease of about 43.2%[57] - Cash inflow from financing activities was approximately $957 million, a decrease from $5.47 billion in the previous period, reflecting a decline of about 82.5%[57] - Cash outflow from financing activities was approximately $1.08 billion, compared to $2.01 billion in the previous period, indicating a decrease of about 46.1%[57] - The company received approximately $105 million from investments, a significant decrease from $3.58 billion in the previous period, representing a decline of about 97.1%[57] - The net increase in cash and cash equivalents was approximately $318.37 million, compared to $1.92 billion in the previous period, reflecting a decrease of about 83.4%[57] - The company reported a foreign exchange impact on cash and cash equivalents of approximately $16.06 million, compared to $9.17 million in the previous period, indicating an increase of about 75.5%[57] Acquisitions - The company completed the acquisition of the hydrogen storage alloy material business in December 2022, which is now included in the consolidated financial statements[31]