2023-10-30 16:00Financial Performance - Q3 2023 revenue reached ¥7,536,725,354.55, a decrease of 42.77% year-over-year[4] - Net profit attributable to shareholders was ¥159,660,470.78, down 97.88% compared to the same period last year[4] - Net cash flow from operating activities was -¥1,369,100,406.14, a decline of 117.20%[4] - Total operating revenue for Q3 2023 was ¥25.68 billion, a decrease of 7.0% from ¥27.61 billion in Q3 2022[16] - Net profit for Q3 2023 was ¥5.88 billion, compared to ¥14.99 billion in Q3 2022, reflecting a decline of 60.8%[19] - The total comprehensive income for the third quarter of 2023 was CNY 6,819,462,407.48, a decrease from CNY 16,915,938,795.63 in the same period last year[20] - Basic earnings per share for the third quarter were CNY 2.98, down from CNY 7.35 in the previous year[20] Assets and Liabilities - Total assets increased by 17.31% to ¥92,862,318,954.04 compared to the end of last year[4] - Total liabilities as of the end of Q3 2023 amounted to ¥38.78 billion, compared to ¥30.29 billion at the end of Q3 2022[18] - Total non-current assets reached ¥61,733,585,515.65, down from ¥47,193,873,916.27[15] - Current assets totaled ¥31,128,733,438.39, a decrease from ¥31,966,036,151.87[15] - Cash and cash equivalents amounted to ¥9,672,492,265.05, compared to ¥9,914,045,039.34 in the previous period[15] - Total assets amounted to ¥92,862,318,954.04, compared to ¥79,159,910,068.14 previously[15] Equity and Shareholder Information - Shareholders' equity rose by 10.14% to ¥48,508,744,307.11 from the previous year-end[4] - The total equity attributable to shareholders was ¥48.51 billion, up from ¥44.00 billion in the previous year[18] - The company’s total number of ordinary shareholders reached 317,174, with 317,132 being A-share holders[8] Cash Flow and Investment Activities - Cash flow from operating activities generated a net outflow of CNY 1,369,100,406.14, compared to a net inflow of CNY 7,959,572,180.33 in the same period last year[22] - Total cash inflow from operating activities was CNY 28,268,872,180.65, while total cash outflow was CNY 29,637,972,586.79[22] - Investment activities resulted in a net cash outflow of CNY 7,178,146,647.51, compared to a net outflow of CNY 5,299,495,936.70 in the previous year[22] - Financing activities generated a net cash inflow of CNY 8,130,186,135.03, compared to CNY 3,940,476,867.47 in the same period last year[22] Operational Highlights - The company reported a significant increase in short-term loans by 211.53% to ¥6,570,339,597.69, primarily for operational needs[6] - Operating costs surged by 74.24% to CNY 21,208,459,022.36, attributed to high initial raw material costs[8] - The company reported a 1261.60% increase in other income to CNY 990,934,614.89, mainly from government subsidies[8] - The company is focusing on expanding its market presence and enhancing product development strategies[15] Inventory and Receivables - The company reported a 34.73% decrease in accounts receivable, attributed to a significant drop in lithium product prices[7] - Inventory stock rose by 90.24% to CNY 253,309,603.44, primarily due to the company's stock repurchase for equity incentive plans[8] - Accounts receivable decreased to ¥5,153,349,506.26 from ¥7,894,866,031.94[15] - Inventory stood at ¥10,923,601,968.06, showing a decline from ¥10,111,077,178.57[15] Future Plans and Investments - The company plans to invest CNY 1 billion in a new electric vehicle project with Chongqing Ruichi Automotive[12] - The company approved the acquisition of a 70% stake in Mengjin Mining, enhancing its resource base[12] - The company intends to increase its stake in Mali Lithium B.V. by up to USD 138 million to support lithium project development[12] Financial Ratios and Metrics - The weighted average return on equity decreased by 35.20% to 0.35%[4] - Long-term payables increased by 43.60% to CNY 2,759,642,099.11 due to new borrowings from NHC, a joint venture with American Lithium[8] - The company’s operating profit for Q3 2023 was ¥6.29 billion, a decrease from ¥17.21 billion in Q3 2022[19] - The company’s financial expenses included interest expenses of ¥566.89 million, compared to ¥276.43 million in the same quarter last year[19] Audit and Compliance - The company did not undergo an audit for the third quarter report[23]