SNAT(SH:900920)2023-10-25 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥2,051,540,674.36, a decrease of 7.92% compared to the same period last year[2]. - Year-to-date revenue until the end of the reporting period was ¥6,526,303,126.50, down 17.96% year-on-year[2]. - The net profit attributable to shareholders for Q3 2023 was -¥152,424,711.46, with a year-to-date net profit of -¥1,074,518,429.07[2]. - The basic earnings per share for Q3 2023 was -¥0.116, and year-to-date it was -¥0.681[2]. - The net profit for the third quarter of 2023 was a loss of CNY 1,074,518,429.07, compared to a loss of CNY 598,974,339.66 in the same quarter of 2022, representing an increase in loss of 79.3%[17]. - The total comprehensive loss of CNY 1,068,220,137.17 for the third quarter of 2023, compared to a loss of CNY 606,100,093.55 in the same quarter of 2022[18]. - Net profit for the first three quarters of 2023 was ¥183,413,677.43, compared to ¥103,159,350.28 in the same period of 2022, indicating a significant increase of approximately 77.8%[28]. - Operating profit for the first three quarters of 2023 was ¥187,767,174.22, up from ¥77,087,750.30 in the same period of 2022, reflecting a growth of approximately 143.5%[28]. Assets and Liabilities - Total assets at the end of Q3 2023 were ¥19,583,712,545.06, a decrease of 11.37% from the end of the previous year[3]. - Shareholders' equity attributable to the parent company was ¥6,914,764,178.90, down 13.05% from the previous year-end[3]. - The company's total liabilities as of September 30, 2023, were 10.76 billion RMB, compared to 12.10 billion RMB at the end of 2022[13]. - The company's total liabilities decreased from CNY 14,144,545,563.42 in Q3 2022 to CNY 12,668,948,366.16 in Q3 2023, a reduction of 10.4%[14]. - The total equity attributable to shareholders decreased from CNY 7,952,344,819.33 in Q3 2022 to CNY 6,914,764,178.90 in Q3 2023, a decline of 13.1%[14]. - The total assets as of September 30, 2023, were 14,820,371,164.89 RMB, showing a slight decrease from 14,823,944,602.28 RMB at the end of 2022[25]. - The total liabilities decreased to 4,400,750,317.42 RMB in Q3 2023 from 4,624,827,986.95 RMB in Q4 2022, reflecting a reduction in financial obligations[25]. Cash Flow - The company reported a net cash flow from operating activities of -¥87,378,125.82 for Q3 2023[2]. - The net cash flow from operating activities for Q3 2023 was -789,269,858.29 RMB, an improvement from -3,418,265,424.18 RMB in Q3 2022, indicating a reduction in cash outflow[21]. - The net cash flow from operating activities for the first three quarters of 2023 was -¥544,690,057.46, compared to -¥327,033,536.11 in the same period of 2022, indicating a worsening cash flow situation[30]. - Cash inflow from financing activities was 1,296,120,714.87 RMB in Q3 2023, down from 3,262,099,982.54 RMB in Q3 2022, indicating reduced financing activity[21]. - The company's cash outflow for operating activities totaled 8,380,905,523.74 RMB in Q3 2023, down from 10,448,644,502.08 RMB in Q3 2022[21]. Sales and Inventory - The decline in operating revenue was primarily due to a decrease in engine sales and vehicle sales[4]. - In the first nine months of 2023, the company sold 6,662 heavy trucks, resulting in a net profit of -1.212 billion RMB due to decreased sales volume and credit impairment losses[11]. - The company's inventory as of September 30, 2023, was 1.60 billion RMB, down from 1.82 billion RMB at the end of 2022[12]. - The company's inventory decreased to 682,993,932.58 RMB in Q3 2023 from 791,816,668.76 RMB in Q4 2022, indicating improved inventory management[24]. Research and Development - Research and development expenses for the third quarter of 2023 were CNY 276,643,476.29, down 20.4% from CNY 347,423,626.38 in the previous year[17]. - Research and development expenses for the first three quarters of 2023 amounted to ¥176,076,319.66, down from ¥203,821,866.44 in the same period of 2022, a decrease of approximately 13.6%[28]. Investments and Financial Income - The company recognized a credit impairment loss from its wholly-owned subsidiary, impacting net profit and earnings per share negatively[5]. - The company recorded an investment income of CNY 111,503,807.13 in the third quarter of 2023, an increase from CNY 103,122,937.60 in the same period of 2022[17]. - The company provided guarantees for debt acquisition or leasing rights totaling up to ¥819,183,600.00, with a balance of ¥223,212,100.00 as of September 30, 2023[32]. - The company reported a financial income of ¥46,617,361.38 from interest income in the first three quarters of 2023, an increase from ¥35,213,112.81 in the same period of 2022, representing a growth of approximately 32.5%[28].