Hualan (SZ:301027)2023-10-24 16:00Financial Performance - The company's revenue for Q3 2023 was ¥161,131,222.35, an increase of 0.99% compared to the same period last year[5]. - The net profit attributable to shareholders decreased by 51.08% to ¥2,967,142.27 in Q3 2023, and the year-to-date net profit was -¥9,551,644.21, a decline of 123.55%[5][9]. - Total operating revenue for Q3 2023 was CNY 402,838,111.41, a decrease of 20% compared to CNY 503,758,674.87 in the same period last year[20]. - Net profit for Q3 2023 was a loss of CNY 9,917,583.79, compared to a profit of CNY 39,415,766.39 in Q3 2022[22]. - The total comprehensive income attributable to the parent company for Q3 2023 was -9,551,644.21 CNY, compared to 40,551,684.35 CNY in the same period last year, indicating a significant decline[23]. - Basic and diluted earnings per share for Q3 2023 were both -0.06 CNY, down from 0.28 CNY in Q3 2022[23]. Cash Flow and Assets - The net cash flow from operating activities improved by 89.00%, reaching -¥4,946,653.95 year-to-date[5][9]. - Cash inflows from operating activities totaled 483,819,779.52 CNY, a decrease of 14.7% from 567,038,138.13 CNY in the previous year[23]. - Cash outflows for investing activities amounted to 87,968,313.01 CNY, up from 36,969,727.35 CNY in Q3 2022, resulting in a net cash flow from investing activities of -87,338,865.76 CNY[24]. - Cash inflows from financing activities were 130,066,548.92 CNY, compared to 119,615,125.00 CNY in the previous year, leading to a net cash flow from financing activities of 12,718,478.11 CNY[24]. - The ending balance of cash and cash equivalents was 582,663,540.22 CNY, down from 699,371,804.31 CNY at the end of Q3 2022[24]. - Total assets at the end of Q3 2023 were ¥1,774,654,462.29, a decrease of 4.37% from the end of the previous year[5]. - As of September 30, 2023, the total current assets amounted to RMB 1,446,731,432.03, a decrease from RMB 1,612,671,367.35 at the beginning of the year, representing a decline of approximately 10.3%[17]. - Cash and cash equivalents decreased to RMB 630,827,628.23 from RMB 785,100,129.92, indicating a reduction of about 19.6%[17]. - Accounts receivable stood at RMB 676,547,752.78, slightly down from RMB 682,572,550.31, reflecting a decrease of approximately 0.7%[17]. - The total non-current assets were reported at RMB 21,587,429.60 for long-term equity investments, down from RMB 22,438,403.04, a decline of about 3.8%[17]. - The company's total assets decreased to CNY 1,774,654,462.29 from CNY 1,855,763,694.59 in the previous year[19]. - Total liabilities decreased to CNY 818,736,707.33 from CNY 893,756,623.63 year-over-year[19]. Shareholder Information - The company had a total of 13,663 common shareholders at the end of the reporting period[11]. - The top shareholder, Lei Xiang, held 11.06% of the shares, amounting to 16,405,300 shares[11]. - The company has a total of 46,479,675 restricted shares, with 1,291,400 shares added during the period, leading to a total of 47,763,500 restricted shares by the end of the reporting period[15]. - The company plans to lift restrictions on shares held by major shareholders on July 15, 2024, which includes 16,405,300 shares held by Lei Xiang[14]. - The company reported a total of 10 major shareholders involved in financing and securities trading, with the largest being Li Xiangci holding 1,740,000 shares[12]. Operational Highlights - The company reported a significant increase in bad debt provisions due to longer accounts receivable aging and lower-than-expected cash collections[9]. - Research and development expenses for Q3 2023 were CNY 19,736,572.38, down 48% from CNY 38,264,322.80 in the previous year[20]. - The company does not have any new product launches or significant market expansion strategies reported in this quarter[5]. - The company has not disclosed any new product developments or market expansion strategies in the current report[22]. - There are no significant mergers or acquisitions reported in the third quarter of 2023[16]. - The report for Q3 2023 has not been audited[25]. Impairment and Losses - The company reported a credit impairment loss of CNY -45,165,638.32, compared to CNY -16,381,884.31 in the same period last year[22]. - The company experienced a total comprehensive loss in Q3 2023, reflecting ongoing challenges in the market[23].