Investment Rating - The report does not provide a specific investment rating for the company [14] Core Insights - The company, Jilin Carbon Valley, has experienced a significant decline in profitability due to adjustments in carbon fiber prices, with a reported net profit of 80.53 million yuan for the first three quarters of 2024, representing a year-on-year decrease of 73.86% [4][8] - The company's revenue for the first three quarters of 2024 was 1,143.32 million yuan, down 31.61% year-on-year, with a gross margin of 17.15%, a decrease of 14.22 percentage points compared to the previous year [4][8] - The company has a market capitalization of 8.363 billion yuan as of December 13, 2024, with a corresponding PE ratio of 2,171.18 times [13] Financial Performance Summary - For the first three quarters of 2024, the company reported a net profit of 80.53 million yuan, down 73.86% year-on-year, and a non-recurring net profit of 51.83 million yuan, down 83.11% year-on-year [4][8] - The gross margin for the first three quarters of 2024 was 17.15%, down 14.22 percentage points year-on-year, while the net profit margin was 7.04%, down 11.39 percentage points year-on-year [4][8] - The company's total assets turnover ratio decreased to 0.21, down 0.18 from the previous year, and the operating cash flow was negative at -422.18 million yuan [4] Historical Financial Indicators - The company's revenue for 2023 was 2,049.24 million yuan, showing a slight decline of 1.65% year-on-year, while the net profit was 231.39 million yuan, down 63.25% year-on-year [5] - The gross margin for 2023 was 24.71%, and the return on equity (ROE) was 11.84% [5] - The earnings per share (EPS) for 2023 was 0.41 yuan, with a price-to-earnings (PE) ratio of 42.14 [5]
吉林碳谷：碳纤维价格调整，公司盈利大幅下滑