C*Core Technology(SH:688262)2024-04-26 10:17Financial Performance - The net profit attributable to shareholders, excluding non-recurring gains and losses, for the current reporting period is -319.55 million RMB, primarily due to a decline in average gross margin of business revenue[1]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, from the beginning of the year to the current reporting period is -385.90 million RMB, also attributed to a decrease in average gross margin[1]. - Basic earnings per share for the current reporting period is -154.55 RMB, resulting from a decrease in net profit and an increase in total shares[1]. - Basic earnings per share from the beginning of the year to the current reporting period is -158.62 RMB, due to the same reasons as above[1]. - The net profit for the third quarter of 2023 was -57,284,843.63 RMB, compared to a net profit of 96,647,643.39 RMB in the same period of 2022, representing a significant decline[21]. - The total profit for the third quarter was -91,170,186.40 RMB, compared to a profit of 103,810,786.19 RMB in the same period last year[21]. - The net profit attributable to shareholders for Q3 2023 was -¥21,872,355.37, a decrease of 161.42% compared to the same period last year[37]. - Year-to-date net profit attributable to shareholders decreased by 159.27%, primarily due to a reduction in IP licensing revenue and increased production costs, leading to a decline in gross margin[49]. Revenue and Growth - The company's total revenue for the first three quarters of 2023 reached RMB 402,802,243.29, an increase of 24.9% compared to RMB 322,407,545.75 in the same period of 2022[17]. - Revenue for the current reporting period increased by 36.66%, primarily due to the growth in edge computing business, with revenue from edge computing chips reaching 68.05 million CNY compared to 2.61 million CNY in the same period last year[49]. - Year-to-date revenue increased by 24.94%, with edge computing chip revenue at 205.69 million CNY, up from 56.82 million CNY in the same period last year[49]. - The company's operating revenue for Q3 2023 was ¥154,659,397.56, representing a year-over-year increase of 36.66%[37]. Expenses - Research and development expenses for the current reporting period amount to 177.53 million RMB, reflecting a significant increase of 99.24% compared to the same period last year[1]. - Sales expenses for the current reporting period are 31.30 million RMB, which is an increase of 41.49% year-on-year[1]. - Management expenses for the current reporting period are 35.55 million RMB, showing a growth of 41.18% compared to the previous year[1]. - Total sales, management, and R&D expenses for the current period were 89.35 million CNY, up 89.07% from 47.26 million CNY in the same period last year[49]. - Research and development expenses increased by 111.72% to 67.46 million CNY, compared to 31.86 million CNY in the same period last year[49]. Assets and Liabilities - As of September 30, 2023, total assets amounted to RMB 3,018,021,744.13, a decrease from RMB 3,073,502,970.36 as of December 31, 2022, reflecting a decline of approximately 1.8%[12]. - The total current assets decreased to RMB 2,562,245,438.48 from RMB 2,746,886,008.61, representing a decline of about 6.7%[12]. - The total liabilities increased to RMB 452,558,987.87 from RMB 254,462,736.24, reflecting an increase of approximately 77.9%[17]. - The company's retained earnings decreased to RMB 27,566,333.20 from RMB 144,139,305.48, a decline of about 80.8%[17]. - Non-current assets totaled RMB 455,776,305.65, up from RMB 326,616,961.75, indicating an increase of approximately 39.4%[15]. - The equity attributable to shareholders decreased by 9.00% year-over-year, amounting to ¥2,565,462,756.26 at the end of Q3 2023[40]. Cash Flow - Cash inflow from operating activities totaled 743,652,874.23 RMB, compared to 493,793,517.34 RMB in the same period last year, marking a 50.7% increase[26]. - The net cash flow from operating activities for Q3 2023 was -¥61,139,354.66, with a cumulative cash flow of -¥140,458,457.05 year-to-date[37]. - The net cash flow from investing activities was -¥297,693,694.06 for Q3 2023, compared to -¥858,208,581.38 in the same period last year[37]. - The net cash flow from financing activities was -¥154,178,014.95 in Q3 2023, compared to -¥89,149,711.93 in the previous year[37]. - The company reported a net increase in cash and cash equivalents of -¥592,355,469.93 for Q3 2023, compared to -¥1,007,612,000.30 in the same period last year[37]. - The cash and cash equivalents decreased significantly to RMB 636,399,144.10 from RMB 1,214,524,614.03, a drop of about 47.5%[12]. Investment and Income - Investment income from the beginning of the year to the current reporting period is 13.59 million RMB, a decrease of 53.46% year-on-year[1]. - The company reported a decrease in investment income to 13,590,500.61 RMB from 29,200,585.61 RMB, a decline of 53.5%[21]. - Other income increased to 36,210,401.93 RMB from 27,019,887.48 RMB, showing a 34.5% increase year-over-year[21]. Strategic Focus - The company continues to enhance its core competitiveness in automotive electronic chips, high-reliability storage control chips, and high-performance edge computing chips[1].