Announcement time of this financial report: 2023-10-24 16:57:48

Weifu Hi-Tech (stock code: 000581) is a company specializing in the research, development, production and sales of core automotive components. Its main products include diesel fuel injection system products, tail gas post-treatment system products and intake system products. How will the company perform in the third quarter of 2023? Let's take a look at the financial data.

First of all, in terms of assets and liabilities, the total assets of Weifu Hi-Tech decreased from 28.529 billion yuan at the end of last year to 27.542 billion yuan at the end of this reporting period, and the total liabilities decreased from 10.094 billion yuan at the end of last year to 7.911 billion yuan at the end of this reporting period. net assets increased from 18.435 billion yuan at the end of last year to 19.631 billion yuan at the end of this reporting period. The asset-liability ratio decreased from 35.38% at the end of last year to 28.72% at the end of this reporting period. These changes are mainly due to the reduction of the advance income tax paid by the company, the repayment of loans, and the repurchase and cancellation of some restricted shares.

Secondly, in terms of profit, Weifu Hi-Tech's operating income decreased from 9.745 billion yuan in the same period last year to 8.342 billion yuan at the end of this reporting period, and its operating cost decreased from 8.351 billion yuan in the same period last year to 6.99 billion yuan at the end of this reporting period. operating profit increased from 1.371 billion yuan in the same period last year to 1.406 billion yuan at the end of this reporting period. The net profit increased from 1.316 billion yuan in the same period last year to 1.37 billion yuan at the end of the reporting period. The gross profit margin increased from 14.31% in the same period last year to 16.21% at the end of this report, and the net profit margin increased from 13.51% in the same period last year to 16.42% at the end of this report. These changes are mainly due to the inclusion of new mergers and acquisitions in the consolidated statements, a decrease in government subsidy income, and a decrease in provision for bad debts by age.

Thirdly, in terms of cash flow, the net cash flow generated by Weifu Hi-Tech's business activities increased from-3.309 billion yuan in the same period last year to 1.132 billion yuan at the end of this reporting period. the cash inflow from operating activities decreased from 13.333 billion yuan in the same period last year to 10.26 billion yuan at the end of this reporting period, and the cash outflow from operating activities decreased from 16.642 billion yuan in the same period last year to 9.128 billion yuan at the end of this reporting period. These changes are mainly due to the decrease in cash outflow from the trading business of the platform.

Generally speaking, Weifu Hi-Tech has a relatively sound operating situation in the third quarter of 2023. In terms of balance sheet, the company can effectively control the asset-liability ratio by optimizing the asset structure, reducing liabilities and increasing net assets. In terms of profit, although the company's operating income has declined, it has increased both operating profit and net profit by controlling operating costs and increasing gross profit and net profit. In terms of cash flow, the net cash flow generated by the company's operating activities has increased significantly, indicating an improvement in the company's cash flow.

For investors, Weifu Hi-Tech has a strong competitiveness in the auto parts industry, its operating condition is sound, and its financial condition is good. However, when investing, investors should also take into account the cyclical nature of the automobile industry and the decline in operating income and other risk factors. Investors are advised to make prudent decisions on the basis of a comprehensive understanding of the company's operating conditions and the development trend of the industry.

This article only represents the judgment made by the analyst himself or the analyst on the basis of AI analysis, and can not be used as any investment index, nor does it constitute any investment advice. The original intention of this paper is to help investors analyze and judge the capital market data in the most intuitive and fast way and from the most professional perspective.