Announcement time of this financial report: 2023-10-27 16:59:35

Kexin Development (stock code: 600234) is an enterprise mainly engaged in architectural decoration and decoration engineering, through its holding subsidiary Tida Decoration to carry out architectural decoration and decoration engineering business, providing integrated services from design to construction. In addition, Kexin Development Company also carries out rental management from its own assets, Tianlong Building, and obtains income from rent and property management fees. The company's architectural decoration engineering business mainly through bidding to obtain income, using a single construction contract model.

In terms of assets and liabilities, the total assets of Kexin Development Company at the end of the third quarter of 2023 were 808 million yuan, compared with 847 million yuan at the end of the previous year. The total liabilities are 211 million yuan, which is lower than that of 230 million yuan at the end of last year. The net asset was 597 million yuan, which was lower than that of 617 million yuan at the end of last year. The asset-liability ratio was 26.15%, down from 27.17% at the end of the previous year.

In terms of profit, the operating income of Kexin Development Company in the third quarter of 2023 was 73.5188 million yuan, compared with 94.2774 million yuan in the same period last year. The operating cost was 63.0785 million yuan, which was lower than that of 67.9009 million yuan in the same period last year. The gross profit margin was 14.2%, down from 27.98% in the same period last year.

In terms of cash flow, the net cash flow generated by the operating activities of Kexin Development Company in the third quarter of 2023 was 8.1043 million yuan, compared with-64.7441 million yuan in the same period last year. Cash inflows from operating activities totaled 88.3494 million yuan, down from 225 million yuan in the same period last year. The cash outflow from operating activities totaled 80.2451 million yuan, which was lower than that of 290 million yuan in the same period last year.

To sum up, there are some challenges in the operation of Kexin Development Company in the third quarter of 2023. Although the company's decoration business income increased, but due to the increase in the age of receivables, the corresponding provision for bad debts increased, resulting in a decline in the company's net profit. In addition, although the company's net cash flow has improved, both cash inflows and outflows have decreased, which may have an impact on the company's day-to-day operations and development.

For investors, it is necessary to pay close attention to the changes of accounts receivable and cash flow of Kexin Development Company, as well as the company's competitive position and market prospects in the construction and decoration industry. At the same time, we need to pay attention to the company's balance sheet, as well as the company's profitability. Although the company is currently facing some challenges, but with the transformation of urban villages and the promotion of indemnificatory housing construction, the company is expected to benefit from relevant policy support, the future development prospects are worth looking forward to.

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.