Haitian Ruisheng Technology Co., Ltd. (stock code: 688787), as a professional service provider focusing on providing training data for artificial intelligence algorithm model development, is at the forefront of the next-generation information technology field supported by the state. With the deepening of digital transformation and the continuous advancement of artificial intelligence technology, Haitian Ruisheng's business is particularly important. In particular, in the context of large-scale intelligent models such as ChatGPT continuing to lead industry trends, the company's development potential and market demand continue to expand, while also facing significant challenges.

In terms of assets and liabilities, Haitian Ruisheng's report for the third quarter of 2023 shows that the company's total assets fell to 811 million yuan from 877 million yuan at the end of the previous year, a decrease of 7.55%. Total liabilities fell to $266.162 million at the end of the previous year, and net assets fell from $830 million to $784 million. The balance ratio fell from 5.41% to 3.28%, reflecting the company's relatively more stable financial structure.

In terms of profit, the company faces major challenges. Revenue fell from 167 million yuan in the same period last year to 103 million yuan, a decrease of 38.25%. Operating profit and net profit were -440.07 million yuan and 32.199 million yuan respectively, showing a significant decline compared to the positive growth in the same period last year. Gross margin and net profit margin also fell from 62.59% and 11.15% to 59.3% and -31.12%, respectively, and return on net assets (ROE) fell from 2.3% to -3.98%. These changes are mainly due to the decline in overseas business revenue and the additional costs of the company's marketing system, management structure upgrades, and new office purchases.

In terms of cash flow, net cash flow from operating activities changed from -3.6636 million yuan in the same period last year to -35.232,700 yuan. This change is mainly due to a sharp decline in operating income. Despite this, R&D investment has maintained a high proportion, accounting for 44.35% of operating income, an increase of 5.98 percentage points over the same period last year, indicating that the company is still actively investing in the future.

In summary, Haitian Ruisheng faced the double pressure of declining operating income and declining profits in the third quarter of 2023, but the company's investment in R&D did not decrease, showing confidence in future technology and markets. Despite being affected by macroeconomic and industry adjustments in the short term, in the long run, with the development of artificial intelligence technology and the expansion of application scenarios, the company's core business is expected to usher in new growth points.

For investors, although Haitian Ruisheng is currently facing the challenge of declining performance, considering the company's expertise and future development potential in the field of AI training data, investors are advised to pay attention to the company's long-term development trends and industry trends and carefully evaluate investment decisions. At the same time, we pay close attention to the company's response strategies and business adjustments to market changes, as well as management's plans and investments for future development.

This article only represents the judgments made by analysts themselves or analysts based on AI analysis. It cannot be used as an investment indicator, nor does it constitute any investment advice. The original purpose of this article was to help investors analyze and judge capital market data in the most intuitive and fastest way and from the most professional perspective.