SHANGHAI YAHOGN MOULDING(SH:603159)2024-11-08 09:27Financial Performance - In Q3 2024, the company achieved revenue of 355 million CNY, a year-on-year decrease of 10.41% [2] - Net profit attributable to shareholders was 18.36 million CNY, down 24.29% year-on-year [2] - The company's net profit after deducting non-recurring gains and losses was 15.66 million CNY, a decline of 22.50% [2] - In Q3 2024, revenue was 121 million CNY, a decrease of 16.99% compared to Q3 2023 [3] - Net profit attributable to shareholders in Q3 2024 was 8.67 million CNY, down 34.60% year-on-year [3] - The net profit after deducting non-recurring gains and losses was 7.91 million CNY, a decline of 38.02% [4] Reasons for Performance Decline - Revenue and profit declines were attributed to reduced client demand and rising labor costs [2] - Some revenue recognition was affected by clients' invoicing schedules, impacting current performance [4] Strategic Measures - The company plans to focus on core business development and strengthen existing customer relationships [2] - Continuous improvement in management practices to reduce costs and enhance inter-departmental collaboration [3] - Emphasis on controlling labor costs, optimizing production processes, and fine-tuning supply chain management [3] Shareholder Actions - A major shareholder, Mr. Xie Yaming, announced a share reduction plan to fulfill commitments made in a share transfer agreement [5] - The planned reduction involves selling up to 4.2 million shares, representing 3.00% of the company's total share capital [5] - The reduction will occur through block trades and centralized bidding within a specified timeframe [6] Cash Flow Status - The net cash flow from operating activities for the first three quarters was 28.35 million CNY, an increase of 119.33% year-on-year [6] - The company reported cash and cash equivalents of 99.44 million CNY, indicating sufficient liquidity for daily operations and future development [6]