CNANO(688116)2023-11-29 08:18Financial Performance - Q3 revenue was 417 million yuan, a decrease of 16.7% year-over-year but an increase of 15.2% quarter-over-quarter [4] - Q3 net profit was 72 million yuan, a decrease of 42.1% year-over-year but an increase of 42.9% quarter-over-quarter [4] - Q3 operating cash flow was approximately 100 million yuan, an increase of 61.9% quarter-over-quarter and 113.7% year-over-year [4] Market Trends and Product Development - The company expects increased demand for carbon nanotubes due to the promotion of fast-charging batteries, with potential growth in penetration rates and additive ratios [1] - The company is a global leader in single-wall carbon nanotube production, with advanced technologies and a focus on expanding into international markets [2] - The company is actively promoting the migration of downstream customers to higher-generation carbon nanotubes, with current sales of first, second, and third-generation products being relatively balanced [5] Strategic Initiatives and Challenges - The company's performance decline in the first three quarters was attributed to imbalances in the new energy industry chain, inventory reductions by major customers, and falling material prices [3] - The company has decided not to adjust the conversion price of its 830 million yuan convertible bonds until April 27, 2024, due to market volatility and a focus on long-term value [3] - The company is progressing with its 2022 private placement and is compliant with the latest financing regulations [4]