SMEG(SH:900922)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥281,293,456.55, a decrease of 16.32% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2023 reached ¥5,119,169.76, an increase of 197.33% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was ¥3,794,505.73, up 417.15% year-on-year[2] - The basic earnings per share for Q3 2023 was ¥0.025, representing a 177.78% increase compared to the same period last year[2] - Total operating revenue for the first three quarters of 2023 reached ¥797,960,066.71, an increase of 11.85% compared to ¥713,409,480.29 in the same period of 2022[18] - Net profit for Q3 2023 was ¥20,338,896.77, significantly higher than ¥1,985,377.60 in Q3 2022, marking an increase of 925.73%[20] - Earnings per share for Q3 2023 were ¥0.101, compared to ¥0.010 in Q3 2022, indicating a substantial growth in profitability[20] - The net profit for the first three quarters of 2023 was ¥4,317,408.31, up 14.6% from ¥3,766,360.31 in the first three quarters of 2022[27] - The total profit for the first three quarters of 2023 was ¥4,477,958.31, compared to ¥2,975,960.31 in the same period of 2022, indicating a growth of 50.4%[27] Assets and Liabilities - Total assets at the end of Q3 2023 amounted to ¥801,824,795.68, a slight increase of 0.20% from the end of the previous year[3] - The total liabilities as of September 30, 2023, were CNY 801.82 million, compared to CNY 800.22 million at the end of 2022, indicating a marginal increase[14] - Total liabilities as of the end of Q3 2023 amounted to ¥356,167,016.35, down from ¥374,902,679.25 at the end of 2022[15] - The total liabilities increased to ¥182,398,712.94 from ¥43,145,725.17 year-over-year, indicating a substantial rise in financial obligations[25] - The company's total current assets amounted to approximately CNY 630.97 million, a slight increase from CNY 621.58 million at the end of 2022[14] - The total current assets increased to ¥298,784,039.73 from ¥152,657,976.90 year-over-year, reflecting a strong liquidity position[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,254, with 19,218 A-share shareholders and 7,036 B-share shareholders[6] - The top shareholder, Chongqing Light Textile Holdings (Group) Co., held 52,158,943 shares, accounting for 25.95% of the total shares[6] - The actual controller, Chongqing State-owned Assets Supervision and Administration Commission, plans to transfer 80% of its stake in Chongqing Qingtan Group to Chongqing Yufu Holdings without compensation[8] - After the transfer, Chongqing Yufu Holdings will indirectly control approximately 25.95% of the company's shares, while Chongqing Qingtan Group remains the controlling shareholder[9] Cash Flow - The company reported a net cash flow from operating activities of -¥7,212,625.20 for Q3 2023, with no applicable year-on-year comparison[2] - The net cash flow from operating activities for Q3 2023 was ¥15,208,100.84, a significant improvement from a net outflow of -¥4,056,299.33 in Q3 2022[23] - The net cash flow from operating activities for the first three quarters of 2023 was ¥140,261,900.98, compared to ¥118,635,630.51 in the same period of 2022, reflecting a growth of 18.2%[30] - The company reported a net cash outflow from investing activities of ¥101,834,177.76 for the first three quarters of 2023, an improvement from a net outflow of ¥175,888,973.00 in the same period of 2022[31] Operational Challenges - The company is currently involved in a land lease contract dispute, with a court ruling requiring the subsidiary to return approximately 6.076 acres of land[10] - The company has signed a handover agreement regarding the disputed land and buildings, with compensation of CNY 13.46 million to be paid by the other party[11] - The company is awaiting further developments in the court's review of the appeal regarding the land dispute[12] Cost Management - Total operating costs for the first three quarters of 2023 were ¥784,852,264.26, up from ¥714,666,220.22 in 2022, reflecting a rise of 9.79%[18] - The company reported a decrease in sales expenses from ¥31,304,200.44 in 2022 to ¥17,636,733.06 in 2023, a reduction of 43.73%[18] - The company’s financial expenses showed a significant improvement, with a net financial income of ¥2,473,632.17 in 2023 compared to an expense of ¥2,573,930.46 in 2022[18] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[20]