OGI(SH:600811)2024-02-28 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 2,259,164,777, a decrease of 37.80% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2023 was CNY 40,585,256, with a year-to-date net profit of CNY -102,856,590.33, indicating significant losses[5]. - Total operating revenue for the first three quarters of 2023 was CNY 5,586,594,909.35, a decrease of 36.8% compared to CNY 8,743,692,483.90 in the same period of 2022[25]. - Net profit for the third quarter of 2023 was a loss of CNY 154,624,642.95, compared to a loss of CNY 219,471,540.75 in the same quarter of 2022, representing an improvement of 29.5%[26]. - The net profit attributable to the parent company for Q3 2023 was -102,856,590.33 CNY, compared to -90,535,250.52 CNY in Q3 2022, indicating a decline of approximately 13.5% year-over-year[27]. - The total comprehensive income for Q3 2023 was -117,671,092.20 CNY, a decrease from -238,263,841.68 CNY in Q3 2022, reflecting an improvement of about 50.7% year-over-year[27]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was CNY 269,484,289.11, down 37.02% year-on-year[5]. - Cash flow from operating activities for the first nine months of 2023 was 269,484,289.11 CNY, down from 427,894,799.15 CNY in the same period of 2022, representing a decline of approximately 37%[28]. - Cash inflow from investment activities for the first nine months of 2023 was 4,003,205,672.15 CNY, compared to 6,949,292,556.62 CNY in 2022, indicating a decrease of about 42%[29]. - Cash flow from financing activities for the first nine months of 2023 was -2,274,957,272.18 CNY, worsening from -1,095,977,474.33 CNY in 2022, reflecting a significant increase in cash outflows[29]. - The ending cash and cash equivalents balance as of Q3 2023 was 2,396,337,963.37 CNY, down from 3,527,522,057.90 CNY at the end of Q3 2022, a decrease of approximately 32%[29]. - The company experienced a net cash decrease of 447,299,213.92 CNY in Q3 2023, compared to a decrease of 35,288,435.79 CNY in Q3 2022, highlighting a significant deterioration in cash management[29]. Assets and Liabilities - Total assets at the end of Q3 2023 were CNY 39,709,940,395.55, a decrease of 5.97% from the end of the previous year[6]. - Current liabilities decreased to CNY 15,371,129,448.92 from CNY 18,783,736,710.44, a reduction of 18.5%[23]. - Long-term borrowings increased to CNY 3,495,685,313.33 from CNY 2,425,000,000.00, marking a rise of 44.2%[23]. - Cash and cash equivalents decreased to CNY 3,679,975,615.43 from CNY 4,801,975,664.98, a decline of 23.4%[21]. - The total equity attributable to shareholders decreased to CNY 18,160,915,824.91 from CNY 18,326,099,426.55, a decline of 0.9%[23]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 107,911[12]. - The largest shareholder, Tibet Dongfang Runlan Industrial Investment Co., Ltd., holds 608,854,587 shares, accounting for 16.64% of total shares, with 413,565,000 shares pledged[12]. - The second-largest shareholder, Dongfang Group Co., Ltd., holds 492,822,091 shares, representing 13.47% of total shares, with 390,156,159 shares pledged[12]. Investment and Acquisitions - The company plans to acquire 25% of the shares of United Energy Group Limited, which amounts to 6,572,483,000 shares[15]. - As of the announcement date, the company has received the overseas investment certificate from Beijing Municipal Bureau of Commerce for the acquisition[16]. - The acquisition of United Energy is subject to further approvals from national development and reform departments and foreign exchange registration[16]. - The company has completed the necessary business department filings for the acquisition[16]. Operational Changes - The company plans to enhance risk control measures, which has led to a reduction in business volume for its subsidiary, Dongfang Grain Warehouse[10]. - The subsidiary, Dongfang Anyi, has paid a total of 806,460,000 RMB to Shandong Tianshang, with an outstanding amount of 759,849,439 RMB due by November 15, 2023[19]. - The company has established a working group to communicate the progress of the remaining debt repayment and related matters[19]. Other Financial Metrics - Non-recurring gains and losses for Q3 2023 amounted to CNY 56,836,761.35, down from CNY 110,504,137.39 in the previous year[9]. - The basic earnings per share for Q3 2023 was CNY 0.0111, compared to a loss of CNY -0.0281 for the year-to-date period[5]. - The weighted average return on equity increased by 0.82 percentage points to 0.22% for Q3 2023[5]. - The company reported a significant reduction in research and development expenses, which fell to CNY 2,975,254.94 from CNY 5,545,030.86, a decrease of 46.4%[26]. - The financial report does not include an audit opinion type, indicating it is not applicable[20].