Hytera(SZ:002583) Zheng Quan Shi Bao Wang·2024-10-25 04:31Core Viewpoint - The stock price of Hytera Communications (002583.SZ) has surged nearly 400% in the last two months due to rumors of receiving close to $20 billion in orders from the Middle East, but the company has not confirmed these orders in its recent quarterly report [1][2]. Financial Performance - For the first three quarters, the net profit attributable to the parent company was 251 million yuan, a year-on-year increase of 70.49%, while operating revenue reached 4.174 billion yuan, up 15.97% year-on-year [1]. - In the third quarter, the net profit attributable to the parent company was 89.1 million yuan, reflecting a year-on-year growth of 27.1%, with operating revenue of 1.435 billion yuan, a 7.05% increase year-on-year [1]. - In the first half of the year, the company achieved operating revenue of 2.738 billion yuan, a year-on-year increase of 21.28%, and a net profit of 162 million yuan, up 109.79% year-on-year [1]. Cash Flow and Contract Liabilities - As of September 30, the net cash flow from operating activities increased by 99.62 million yuan, a rise of 42.50% year-on-year, with the third quarter alone contributing over 60 million yuan to this increase [1]. - Contract liabilities increased by 201.83 million yuan (48.07%) due to a rise in advance payments, while prepaid accounts surged by 216.28 million yuan (182.65%) primarily due to increased material payments [2]. Market Speculation - The company has not directly denied the speculation regarding large orders, which keeps the market's expectations high for the upcoming quarterly report [1]. - Despite the significant stock price increase, the lack of confirmed orders raises questions about the rationality of the market's reaction, suggesting that investors should carefully consider their positions [3].