Guangfeng Technology (688007) disclosed its third quarter report for 2024 on October 19. In the first three quarters, the company achieved operating income of 1.72 billion yuan, a year-on-year increase of 4.18%; the net profit attributable to the parent company was 42.9466 million yuan, a year-on-year decrease of 66.59%; deducted non-net profit of 39.6066 million yuan, a year-on-year decrease of 48.22%; the net cash flow from operating activities was 71.5232 million yuan, a year-on-year decrease of 65.77%; During the reporting period, Guangfeng Technology's basic earnings per share was 0.09 yuan, and the weighted average return on equity was 1.54%.

Based on the closing price on October 18, Guangfeng Technology's current price-to-earnings ratio (TTM) is about 430.88 times, the price-to-book ratio (LF) is about 2.75 times, and the price-to-sales ratio (TTM) is about 3.32 times.

According to the data, the company's main products are vehicle-mounted optical core devices, laser light sources, laser TVs and intelligent micro-projectors, high-gain and high-contrast projection screens, intelligent micro-projections, laser TVs, laser movie projectors, laser engineering projectors, laser education projectors, etc.; Laser cinema projection services, VLEDLEDCinema projection solutions, engineering projection automatic 3DMapping and corresponding system solutions, etc.

In terms of profitability, the company's weighted average return on equity in the first three quarters of 2024 was 1.54%, down 3.18 percentage points year-on-year. The company's return on invested capital in the first three quarters of 2024 was 0.56%, down 1.3 percentage points from the same period last year.

In the first three quarters of 2024, the company's net cash flow from operating activities was 71.5232 million yuan, a year-on-year decrease of 65.77%; Net cash flow from financing activities decreased by $284 million to $262 million, and net cash flow from investing activities was $161 million, compared to $237 million in the same period last year.

In terms of major changes in assets, as of the end of the third quarter of 2024, the company's monetary funds decreased by 13.22% from the end of the previous year, accounting for 4.21 percentage points of the company's total assets, long-term equity investment decreased by 95.45% from the end of the previous year, accounting for 3.27 percentage points of the company's total assets, the total trading financial assets increased by 19.04% from the end of the previous year, accounting for 2.39 percentage points of the company's total assets, and notes receivable and accounts receivable increased by 52.52% from the end of the previous year. The proportion of the company's total assets increased by 2.39 percentage points.

In terms of major changes in liabilities, as of the end of the third quarter of 2024, the company's notes payable and accounts payable increased by 63.83% from the end of the previous year, accounting for 4.95 percentage points of the company's total assets, long-term borrowings decreased by 16.12% from the end of the previous year, accounting for 1.38 percentage points of the company's total assets, employee compensation payable decreased by 48.57% from the end of the previous year, accounting for 0.77 percentage points of the company's total assets, and short-term borrowings decreased by 37.49% from the end of the previous year. The proportion of the company's total assets decreased by 0.71 percentage points.

For the first three quarters of 2024, the company has a current ratio of 2.65 and a quick ratio of 2.03.

The third quarterly report shows that among the top ten circulating shareholders of the company at the end of the third quarter of 2024, the new shareholder is the Southern CSI 1000 Exchange-traded Open-ended Index Securities Investment Fund, replacing Long Zaiping at the end of the second quarter. In terms of specific shareholding ratio, Luo Xiaobin's shareholding has increased, and E Fund's shareholding in Stable Income Bond Securities Investment Fund has decreased.

Proofreading: Shen Nan

Indicator Annotation:

P/E ratio = total market capitalization / net profit. When the company loses money, the P/E ratio is negative, and it is not practical to use the P/E ratio for valuation, and the P/B ratio or P/B ratio is often used as a reference.

Price-to-book ratio = total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.

Price-to-sales ratio = total market capitalization / operating income. The price-to-sales ratio method is often used for growing companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in this article are calculated using the TTM method, that is, the data for the 12 months up to the latest financial report (including forecast). The price-to-book ratio is calculated using the LF method, that is, based on the latest financial report data. The quantile calculation range of the three is from the company's listing to the latest announcement date.

When the P/E ratio and price-to-book ratio are negative, the current quantile is not displayed, which will cause the line chart to be interrupted.