Announcement time of this financial report: 2023-10-24 18:34:36

Tuojing Life Co., Ltd. (stock code: 300642) is a company specializing in the research, development, production and sales of independent brand in vitro diagnostic products. The company's main business includes products in many areas, such as tumor detection, autoimmunity, cardiovascular disease, pathogen infection and reproductive health. The company's products have covered more than 2100 end-users in 31 provinces and cities across the country, and are widely used in hospitals at all levels, physical examination centers and independent laboratories. Adhering to the concept of "docking global technological resources, based on local innovation and creation", the company continues to explore overseas markets, establish a stable cooperative relationship with overseas distributors, and strive to become an internationally influential company in the field of life and health technology.

In terms of assets and liabilities, Tuojing Life's total assets in the third quarter of 2023 were 1.658 billion yuan, down slightly from 1.665 billion yuan at the end of the previous year. The total liabilities were 149 million yuan, down from 184 million yuan at the end of last year. The net asset was 1.509 billion yuan, up from 1.481 billion yuan at the end of last year. The asset-liability ratio was 9%, down from 11.06% at the end of the previous year. These changes are mainly due to the increase in the recovery and purchase of financial management in the current period, the increase in the maturity of wealth management products, the increase in the payment of land deposit, the maturity of time deposits, the increase in input tax to be deducted, and the increase in the sale of goods by installations. increase investment and recognition of equity law-related investment gains and losses, wholly-owned subsidiary Jiangxi Tuojing Life Technology Co., Ltd., under construction, transferred to fixed assets and obtained the land use right of the headquarters and industrialization base project. The long-term prepaid expenses of subsidiaries have increased, time deposits have increased, part of the loans have been repaid, the sale of accounts received in advance has been realized, the salary payable but not yet paid has been reduced, and the obligation to issue restricted stocks for equity incentive has increased. The company will repurchase and write off all the restricted stocks that have been granted but have not been lifted in the second assessment year of the 2020 equity incentive plan.

In terms of profit, Tuojing Life's operating income in the third quarter of 2023 was 401 million yuan, down from 518 million yuan in the same period last year. Operating profit was 41.4923 million yuan, down sharply from 94.4526 million yuan in the same period last year. The operating cost was 147 million yuan, down from 230 million yuan in the same period last year. Net profit was 40.0013 million yuan, down sharply from 87.702 million yuan in the same period last year. These changes are mainly due to the decrease in operating costs caused by the decrease in sales income in the current period compared with the same period in history, the decrease in the proportion of agency products, the decrease in financial expenditure for purchase, the increase in government subsidies, the decrease in interest on transactional financial assets, the preparation for reversal of the falling price of some inventory, the receipt of civil litigation compensation, the increase in scrapped fixed assets, the decline in profits and other factors.

In terms of cash flow, the net cash flow generated by operating activities in the third quarter of 2023 was 114 million yuan, down from 131 million yuan in the same period last year. This is mainly due to the decrease in rebates in the current period compared with the same period in history.

Overall, Tuojing Life's operating performance declined in the third quarter of 2023 compared with the same period last year. Although the company performed well in terms of balance sheets, it was weak in terms of profits and cash flows. This may be due to the decrease in the company's sales revenue, operating costs, purchase and financial expenses, the increase in government subsidies, the decrease in interest on transactional financial assets, the preparation for reversal of the falling price of some inventory, and the receipt of civil compensation. It is related to factors such as the increase in scrapped fixed assets and the decline in profits.

For investors, the financial situation of Tuojing Life needs to be closely watched. Although the company has a good performance in terms of balance sheet, it is weak in terms of profits and cash flow, which may have an impact on the company's long-term development. It is suggested that when making investment decisions, investors should comprehensively consider the company's financial indicators, as well as the company's business strategy and market environment and other factors.

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.