Buydeem Group(SZ:300824)2023-10-23 16:00Financial Performance - The company's operating revenue for Q3 2023 was ¥150,903,045.06, a decrease of 9.22% compared to the same period last year[7]. - Net profit attributable to shareholders increased by 255.36% year-on-year, reaching ¥14,723,589.54[7]. - The net profit excluding non-recurring gains and losses rose by 525.27% year-on-year to ¥11,973,647.84[7]. - Basic earnings per share were ¥0.0451, reflecting a 255.12% increase compared to the previous year[7]. - The net profit for Q3 2023 was CNY 52,358,072.12, a significant increase from CNY 26,711,463.76 in Q3 2022, representing a growth of 96.3%[36]. - Operating profit for Q3 2023 reached CNY 57,061,177.90, compared to CNY 24,807,236.14 in the same period last year, marking an increase of 130.0%[36]. - Total revenue from operating activities was CNY 524,734,279.35, down from CNY 595,116,578.62 in Q3 2022, reflecting a decrease of 11.9%[39]. - Total revenue for the first three quarters of 2023 was CNY 472.32 million, a decrease of 11.73% compared to 2022's 535.10 million yuan[24]. Cash Flow and Assets - The net cash flow from operating activities increased by 63.33% year-on-year, amounting to ¥78,337,278.34[10]. - Operating cash flow net amount increased by 63.33% to 783.37 million yuan, attributed to inventory reduction and improved operational efficiency[18]. - The company reported a net cash outflow from investing activities of 1.83 billion yuan, a 33.07% improvement from the previous year's outflow of 2.74 billion yuan[18]. - The total cash and cash equivalents at the end of Q3 2023 were CNY 261,422,828.51, compared to CNY 130,566,637.84 at the end of Q3 2022, an increase of 100.0%[39]. - Current assets decreased to CNY 860.86 million from CNY 873.13 million, with cash and cash equivalents dropping from CNY 568.39 million to CNY 390.58 million[32][33]. - The company's cash and cash equivalents decreased by 31.28% to ¥390,583,070.68 due to an increase in unexpired financial products[14]. Revenue Breakdown - The company's revenue from domestic operations was CNY 33,557.40 million, accounting for 92.77% of total revenue, while overseas revenue dropped by 54.61% to CNY 2,615.47 million, representing 7.23% of total revenue[27]. - The revenue from electrical appliances was CNY 25,170.63 million, down 17.14% year-on-year, while the revenue from supplies and food materials was CNY 11,002.24 million, a decrease of 12.08%[29]. - The "BUYDEEM" brand generated revenue of 361.73 million yuan, down 15.66% year-over-year, while OEM/ODM revenue increased by 4.14% to 110.59 million yuan[25]. Expenses and Liabilities - Other income decreased by 43.23% to 117.15 million yuan, primarily due to reduced software tax refunds and government subsidies[16]. - Income tax expenses surged by 493.41% to 46.58 million yuan, driven by increased profits and the absence of losses from the previous year[16]. - The total liabilities decreased to CNY 280.20 million from CNY 334.31 million, with current liabilities also declining to CNY 242.47 million from CNY 277.47 million[34]. Business Strategy and Operations - The company has adjusted its overseas business model, transitioning a significant portion of its operations from self-operated to distribution models, impacting revenue structure[9]. - The company continues to focus on cost reduction and efficiency improvements across various operational areas, contributing to overall profitability[10]. - The company launched several new products, including the "G68 Large Capacity Multi-functional Double-layer Steamer" and "Mini K Portable Health Pot" during the reporting period[30]. - The company expects to continue focusing on product innovation and market expansion in the upcoming quarters[30]. Shareholder Information - The top shareholder, Jinghui Electric Group, holds 28.04% of shares, totaling 91.50 million shares[20]. Research and Development - Research and development expenses for Q3 2023 were CNY 29,097,277.41, up from CNY 26,278,163.63 in Q3 2022, reflecting a growth of 10.4%[36].