Announcement time of this financial report: 2023-10-27 22:10:58
First, let's take a look at Tongrun Equipment Company. Tongrun Equipment Co., Ltd. is an enterprise focusing on the manufacture of photovoltaic inverters. As the installed capacity of photovoltaics around the world increases, the demand for inverters is also increasing. Tongrun Equipment Co., Ltd. is committed to providing high-quality inverter products for the photovoltaic industry, meeting market needs, and actively participating in the development and innovation of the industry.
Next, let's take a look at the situation of Tongrun Equipment in terms of assets and liabilities. At the end of the third quarter of 2023, the total assets of Tongrun Equipment were 3.885 billion yuan, a significant increase compared to 2.147 billion yuan at the end of the previous year. Total liabilities were $2,077 million, a significant increase from $381 million at the end of the previous year. Net assets were $1,909 million, a slight increase from $1,766 million at the end of the previous year. The balance ratio was 53.45%, a significant increase from 17.73% at the end of the previous year.
In terms of profit, Tongrun Equipment's operating revenue for the third quarter of 2023 was 1,678 billion yuan, up from 1,291 billion yuan in the same period last year. Operating profit was 998.16,300 million yuan, down from 189 million yuan in the same period last year. Operating costs were $1,286 million, up from $1,006 billion in the same period last year. Net profit was 66.096 million yuan, down from 141 million yuan in the same period last year. Gross margin was 23.4%, up from 22.14% in the same period last year. The net interest rate was 3.94%, down from 10.91% in the same period last year. The return on net assets (ROE) was 3.7%, down from 8.38% at the end of the previous year.
In terms of cash flow, Tongrun Equipment's net cash flow from operating activities in the third quarter of 2023 was $191 million, down from $241 million in the same period last year. Cash inflows from operating activities totaled $1,725 million, up from $1,431 million in the same period last year. The total cash outflow from operating activities was $1,534 billion, up from $1.19 billion in the same period last year.
In summary, in the third quarter of 2023, Tongrun Equipment achieved an increase in operating income and an increase in asset scale, driven by increased demand for photovoltaic inverters in the third quarter of 2023. However, the company's profitability declined, net profit and operating profit both declined compared to the same period last year, and the balance ratio also increased. This may be due to the company's investment in costs and capital in the process of expanding scale and growing business, which has led to a decline in profitability in the short term.
Finally, for investors, Tongrun Equipment, as an enterprise in the photovoltaic inverter industry, has great market prospects. However, companies need to pay attention to improving profitability and controlling debt to achieve better business results.
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.