DAYE(SZ:300879)2023-10-25 16:00Financial Performance - The company's revenue for Q3 2023 was ¥71,372,007.39, a decrease of 68.32% compared to the same period last year, and year-to-date revenue was ¥808,807,434.11, down 39.09% year-on-year[6]. - The net profit attributable to shareholders for Q3 2023 was -¥35,833,475.89, a decline of 294.44%, with a year-to-date net profit of -¥23,149,445.72, down 135.20% compared to the previous year[6]. - The basic earnings per share for Q3 2023 was -¥0.22, a decrease of 266.67%, and year-to-date diluted earnings per share was -¥0.14, down 134.15%[6]. - Total operating revenue for Q3 2023 was ¥808,807,434.11, a decrease of 39.0% compared to ¥1,327,944,071.88 in the same period last year[27]. - Net profit for Q3 2023 was a loss of ¥23,149,445.72, compared to a profit of ¥65,761,708.63 in Q3 2022, indicating a significant decline in profitability[28]. - The total comprehensive income for the third quarter was -20,314,966.11 CNY, compared to 57,545,917.70 CNY in the same period last year[29]. - Basic and diluted earnings per share were both -0.14 CNY, down from 0.41 CNY in the previous year[29]. Assets and Liabilities - Total assets as of September 30, 2023, were ¥3,275,856,951.19, an increase of 25.06% from the end of the previous year[6]. - Total assets as of Q3 2023 amounted to ¥3,275,856,951.19, compared to ¥2,619,347,068.48 at the end of the previous year, showing a growth of 25.1%[26]. - Total liabilities increased to ¥2,310,726,794.90 in Q3 2023 from ¥1,665,503,577.20, marking a rise of 38.8%[26]. - Current assets totaled ¥1,980,763,722.18, up from ¥1,432,158,432.99, reflecting a growth of 38.3% year-over-year[26]. - Current liabilities decreased to ¥914,014,268.93 from ¥1,484,527,627.98, a reduction of 38.4%[26]. Cash Flow - The company reported a significant increase in cash flow from operating activities, with a year-to-date net cash flow of ¥388,133,988.64, up 154.20%[6]. - The net cash flow from operating activities increased by 154.20% to ¥388,133,988.64 compared to the same period last year, primarily due to reduced material procurement costs resulting from sufficient inventory[16]. - Cash flow from operating activities generated a net cash inflow of 388,133,988.64 CNY, an increase from 152,686,220.79 CNY year-over-year[30]. - Cash flow from investing activities resulted in a net outflow of -284,989,698.80 CNY, worsening from -146,787,242.10 CNY in the previous year[31]. - Cash flow from financing activities produced a net inflow of 829,723,731.20 CNY, compared to a net outflow of -17,528,879.18 CNY last year[31]. - The ending balance of cash and cash equivalents was 997,651,018.59 CNY, significantly up from 86,008,178.81 CNY at the end of the previous year[31]. - The company received cash from borrowings amounting to 2,311,700,948.87 CNY, an increase from 805,915,175.07 CNY in the prior year[31]. - The company paid 1,529,290,323.44 CNY in debt repayments, compared to 765,492,899.51 CNY in the same period last year[31]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 15,429, with the largest shareholder, Zhejiang Jindaye Holdings Co., Ltd., holding 33.00% of shares[17]. - The top ten shareholders are all under the control of the same actual controller, Ye Xiaobo, indicating a unified action relationship[18]. - The company has no preferred shareholders as of the reporting period[19]. Operational Insights - The company’s revenue decline was mainly due to major clients in Europe and the US being in a high inventory phase, leading to reduced purchases[14]. - The company plans to increase investment in new projects, including a production base in Mexico and a new riding mower production project[11]. - The company experienced a 87.17% increase in taxes and surcharges, primarily due to increased property tax and value-added tax surcharges[14]. - Research and development expenses increased to ¥47,808,624.78 in Q3 2023, up from ¥44,184,048.86 in the previous year, representing an increase of 5.9%[28]. - The company did not undergo an audit for the third quarter report[32]. - The company has no new strategies or market expansions reported in this quarter[20]. Borrowings - The company’s short-term borrowings decreased by 41.08% to ¥496,583,751.38, primarily due to repayment of bank loans[11]. - The company’s long-term borrowings increased by 525.96% to ¥938,659,722.22, attributed to optimizing the bank loan structure[11]. Other Financial Metrics - The company reported a financial expense of ¥6,660,509.62 in Q3 2023, a significant improvement from a financial income of ¥35,084,624.87 in the same period last year[28]. - Other comprehensive income after tax for Q3 2023 was ¥2,834,479.61, compared to a loss of ¥8,215,790.93 in Q3 2022, indicating a recovery in this area[28]. - Accounts receivable decreased from ¥243,825,670.38 to ¥93,993,980.67, indicating improved cash collection[24].