Announcement time of this financial report: 2023-10-27 19:48:21
Gengxing Co., Ltd. (stock code: 600753) is a company mainly engaged in coal supply chain management business, and is also promoting strategic transformation. Its coal supply chain management business mainly selects companies with competitive advantages as strategic partners and provides them with supply chain management services through the establishment of a review system. In addition, the company is also involved in the NEV charging business. Through investment in the construction of charging stations and the development of smart charging platforms, the company provides a full range of vehicle services to NEV users and obtains operating revenue.
In terms of assets and liabilities, the total assets of Gengxing Co., Ltd. at the end of the third quarter of 2023 were 409 million yuan, up from 400 million yuan at the end of the previous year. Total liabilities were $155 million, up from $79.101 million at the end of the previous year. Net assets were $254 million, down from $321 million at the end of the previous year. The balance ratio was 37.86%, up from 19.78% at the end of the previous year.
In terms of profit, the company's operating income for the third quarter of 2023 was 484 million yuan, down from 1,639 million yuan in the same period last year. Operating profit was -30553,600 yuan, which was converted into a loss compared to 109.13,300 yuan in the same period last year. Net profit was -32.3705 million yuan, which also turned into a loss compared to 5.895,600 yuan in the same period last year. Gross margin was 1.38%, up from 1.26% in the same period last year. Net interest rate was -6.69%, down from 0.36% in the same period last year. The return on net assets (ROE) was -11.26%, down from 1.84% at the end of the previous year.
In terms of cash flow, the net cash flow from the company's operating activities in the third quarter of 2023 was RMB 70.443,500, an improvement from RMB 31.1791 million in the same period last year. Cash inflows from operating activities totaled $561 million, down from $1,768 million in the same period last year. The total cash outflow from operating activities was $491 million, down from $1,799 million in the same period last year.
In summary, the operating conditions of Gengxing Co., Ltd. in the third quarter of 2023 were affected by the transformation of the main business, and both operating income and net profit declined. However, in terms of the layout of the NEV charging business, the company responded positively to the country's double carbon policy, deeply deployed the NEV industry and the dual carbon sector, provided a full range of vehicle services to NEV users, and obtained operating revenue.
For investors, the business transformation of Gengxing Co., Ltd. and the in-depth layout of the new energy vehicle charging business are worth paying attention to. At the same time, it should be noted that both the company's debt and net profit have increased, which may have a certain impact on the company's business conditions. Therefore, investors need to fully consider the company's operating conditions and business development when making investment decisions.
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