Announcement time of this financial report: 2023-10-25 17:15:35
Weiyuan stock (stock code: 600955) is mainly engaged in the production and sales of phenol, acetone, isopropanol, bisphenol A, polycarbonate, polycarbonate modified alloy, dimethyl carbonate, nitrogen, oxygen, instrument wind, liquid oxygen, liquid nitrogen, liquid argon and other products. Its main products are phenolone related products, new energy and new materials related products and gas related products. In terms of phenolone-related products, the phenol market showed a low volatility after a weak decline in the first half of the year, but the overall demand still showed a trend of growth. The acetone market first rose and then fell, and is expected to gradually adjust and recover in the second half of the year. The bisphenol A market consolidated in the first half of the year, but is expected to improve in anticipation of a recovery in domestic demand and policy tightening.
In terms of assets and liabilities, Weiyuan shares had total assets of 11.824 billion yuan at the end of the third quarter of 2023, up 19.05% from 9.931 billion yuan at the end of the previous year. The total debt was 3.196 billion yuan, up sharply from 1.287 billion yuan at the end of last year, and the asset-liability ratio was 27.03%, up from 12.96% at the end of last year. The net asset was 8.628 billion yuan, slightly lower than the 8.644 billion yuan at the end of last year.
In terms of profit, Weiyuan's operating income in the third quarter of 2023 was 4.928 billion yuan, down 16.40% from 5.894 billion yuan in the same period last year. Operating profit was 103 million yuan, down sharply from 639 million yuan in the same period last year. The operating cost was 4.746 billion yuan, down from 5.233 billion yuan in the same period last year. Net profit was 87.6344 million yuan, down sharply from 491 million yuan in the same period last year. Gross profit margin was 3.7%, down sharply from 11.22% in the same period last year. The net interest rate was 1.78%, down sharply from 8.33% in the same period last year. Return on equity (ROE) was 1.01 per cent, down sharply from 5.85 per cent at the end of last year.
In terms of cash flow, the net cash flow generated by the operating activities of Weiyuan shares in the third quarter of 2023 was 417 million yuan, down 44.97% from 758 million yuan in the same period last year. Cash inflow from operating activities totaled 5.467 billion yuan, down from 6.789 billion yuan in the same period last year. Cash outflow from operating activities totaled 5.05 billion yuan, down from 6.031 billion yuan in the same period last year.
To sum up, the operating situation of Weiyuan shares in the third quarter of 2023 is under certain pressure. Although the rise in acetone prices has contributed to short-term profit growth, full-year results remain under pressure. Operating income, operating profit and net profit have all declined sharply, as well as gross profit margin, net profit margin and return on net assets. In addition, net cash flows from operating activities also declined.
For investors, they need to pay attention to the future market trends and industry trends of Weiyuan shares. Although the rise in acetone prices has boosted short-term profits, the pressure on full-year results remains high. Therefore, investors need to fully consider these factors when making investment decisions.
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.