Leascend(SZ:300051)2023-10-24 16:00Revenue and Profitability - Revenue for Q3 2023 was CNY 43,952,584.11, a decrease of 10.07% compared to the same period last year[5] - Net profit attributable to shareholders was CNY -5,982,643.05, an increase of 12.99% year-on-year[5] - Net profit for the current period was a loss of ¥28,569,294.06, compared to a loss of ¥20,236,462.77 in the previous period, reflecting a deterioration in profitability[41] - The company reported a total comprehensive loss of ¥28,570,445.47 for the current period, compared to a loss of ¥19,948,652.86 in the previous period[41] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -15,616,901.07, a significant decrease of 153.95%[5] - Net cash flow from operating activities decreased by 153.95% year-on-year, primarily due to increased operating expenses and procurement costs from the new subsidiary[26] - The company reported a net cash outflow from operating activities of ¥15,616,901.07, a significant decline from a net inflow of ¥28,945,767.89 in the previous period[42] - The company generated ¥160,951,778.25 in cash inflows from operating activities, down from ¥164,763,165.99 in the previous period[42] - Total cash inflows from financing activities amounted to ¥1,279,560,489.72, a significant increase compared to ¥28,000,000.00 in the previous period[43] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,867,571,167.82, an increase of 219.35% compared to the end of the previous year[5] - Total liabilities amounted to CNY 996,623,341.72, compared to CNY 404,641,644.63 at the beginning of the year, indicating a rise of approximately 146%[37] - The company reported a total current liabilities of CNY 767,831,594.33, a substantial increase from CNY 126,299,880.81 at the beginning of the year[37] - The company's equity attributable to shareholders increased to CNY 301,331,775.21 from CNY 191,320,885.38, representing a growth of about 57.8%[38] Investments and Expenses - Long-term equity investments increased by 650.98% to CNY 16,395,275.50, attributed to the revaluation of investments after losing control of a subsidiary[14] - The company incurred research and development expenses of ¥15,542,638.07, up from ¥14,604,216.88 in the previous period, indicating continued investment in innovation[40] - Management expenses increased by 30.13% compared to the same period last year, mainly due to the establishment of a new subsidiary in Meishan[17] - Financial expenses decreased by 47.19% year-on-year, attributed to increased interest income from time deposits and reduced bank loan interest expenses[17] - Other income decreased by 55.65% year-on-year, primarily due to a reduction in government subsidies received[18] - Investment income decreased by 72.14% year-on-year, mainly due to the disposal of equity in an associate last year[19] Inventory and Receivables - Accounts receivable rose by 102.32% to CNY 5,076,239.35, primarily due to increased customer receivables[10] - Inventory increased by 1,082.23% to CNY 20,808,986.21, mainly due to inventory growth at a subsidiary[10] - Accounts receivable increased to CNY 5,076,239.35 from CNY 2,508,964.42, reflecting a growth of approximately 102%[36] - Inventory levels surged to CNY 20,808,986.21, up from CNY 1,760,144.61, marking an increase of about 1,080%[36] Corporate Developments - The company signed significant operational contracts and investment agreements in July and August 2023, indicating ongoing strategic expansion efforts[34] - The company has been actively involved in restructuring and enhancing its operational framework, as evidenced by the changes in its corporate name and business scope[35] - The new accounting standards were first implemented in 2023, affecting the financial statements from the beginning of the year[44] - The board of directors announced the third quarter report on October 25, 2023[44] Audit Status - The third quarter report of Liansheng Technology Co., Ltd. has not been audited[44]