Announcement time of this financial report: 2023-10-24 18:15:46
Hezhong Technology (Stock Code: 300477) is a high-tech enterprise specializing in power distribution and control equipment manufacturing and related technical services, covering power plate and lithium battery cathode material plate. The company takes technological innovation and service as its core competitiveness, constantly improves product quality and technical level, and creates value for customers.
As can be seen from the third quarterly report of 2023, the total assets of Hezhong Technology increased from 7.271 billion yuan at the end of last year to 8.367 billion yuan at the end of this reporting period, an increase of 15.07%. The total liabilities also increased from 4.282 billion yuan at the end of last year to 5.307 billion yuan at the end of this reporting period. Net assets increased slightly, from 2.99 billion yuan at the end of last year to 3.06 billion yuan at the end of this reporting period. The asset-liability ratio increased from 58.88% at the end of last year to 63.43% at the end of this reporting period. These changes are mainly due to the increase of enterprise value-added tax credit, the transfer of projects under construction to fixed assets, the increase in the proportion of settlement with suppliers through bills, the increase in the withdrawal of project loans, and the extension of the term of some working capital loans for 2-3 years.
In terms of profit, Hezhong Technology's operating income in the third quarter of 2023 was 2.086 billion yuan, down slightly from 2.129 billion yuan in the same period last year. The operating profit was-329 million yuan, compared with 194 million yuan in the same period last year. The net profit was-288 million yuan, compared with 148 million yuan in the same period last year. This is mainly due to the fluctuation of iron phosphate market, the decrease of product gross profit, and the opening up of new markets and businesses, the increase of contract volume leads to the increase of sales costs, the increase of share payment fees resulting from equity incentives, the increase of borrowing amount leads to the increase of interest costs, and the provision for inventory price reduction.
In terms of cash flow, the net cash flow generated by operating activities was-491 million yuan, which was significantly lower than that of 5.7913 million yuan in the same period last year, mainly due to the increase in the amount of bank acceptance of bills and letters of guarantee and the increase in the proportion of bills settlement in sales rebate settlement.
Generally speaking, the operating situation of Hezhong Science and Technology in the third quarter of 2023 is under certain pressure. Although total assets have increased, net profit has fallen sharply and cash flow pressure has increased. This is mainly due to the change of the market environment, the decline of product gross margin, the increase of sales costs and other factors.
For investors, the financial situation of Hezong Technology needs to be closely watched. Although the company has done well in asset growth, the sharp decline in net profit and the pressure on cash flow are risk points to pay attention to. When making investment decisions, investors should fully consider these factors and invest cautiously.
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.