单季度来看，阿特斯第三季度归母净利润7.16亿元，同比减少21.99%，环比增长8.3%，① Due to the expected decrease in component sales prices, the provision for inventory impairment losses increased year-on-year, along with an increase in related tariff costs, leading to a decrease in the overall profit level of the component business; ② 8.4GW of components were shipped in the third quarter, lower than the previous expected value of 9.0-9.5GW;
"Star Daily" October 29th news (Reporter Yu Jiaxin) today (October 29th), Aters released the performance report for the third quarter of 2024.
The data shows that in the first three quarters of 2024, Aters achieved revenue of 34.178 billion yuan, a year-on-year decrease of 12.63%; the net income attributable to shareholders of the listed company was 1.955 billion yuan, a year-on-year decrease of 31.17%.
Looking at a single quarter, Aters' net profit attributable to the parent company in the third quarter was 0.716 billion yuan, a year-on-year decrease of 21.99%, an increase of 8.3% quarter-on-quarter, showing continuous quarter-on-quarter growth for three consecutive quarters this year.
Regarding the above performance, Aters stated that it was mainly due to the decrease in the average selling price of solar components during the reporting period, resulting in a decrease in revenue compared to the same period last year. Additionally, the provision for inventory impairment losses increased year-on-year due to the expected decrease in component sales prices, and the overall profit level of the component business decreased due to factors such as increased related tariff costs.
In January-September 2024, Aters achieved a slight increase in component shipments to 22.9GW compared to the same period last year. Among them, shipments in the third quarter were 8.4GW, a 2.4% increase quarter-on-quarter, but lower than the previous expected value of 9.0-9.5GW.
Aters stated that the rapid growth in revenue from high-margin large-scale energy storage products and their partial contribution to profits offset the decline in profits from the component business.
In terms of energy storage business, in January-September 2024, the company's large-scale energy storage product shipments reached 4.4GWh, with shipments reaching 1.8GWh in the third quarter.
At present, Attes maintains positive cash flow. The net cash flow generated from operating activities in the first three quarters of the company is nearly 2.476 billion yuan, a year-on-year decrease of 55.81%, mainly due to profit decline and extended cash turnover cycle.
Regarding overseas markets, according to the third quarter report, in terms of photovoltaic business, the company continues to increase shipments to the high-price market in North America, with shipments in the third quarter accounting for over 30%. In the investor survey minutes disclosed in early October, Attes stated that the construction of a 5GW component factory in the USA is expected to be completed by the end of 2023, with full production expected in the first half of 2025. According to relevant policies, it will be eligible for IRA subsidies.
"Currently, the company's production capacity in Southeast Asia is concentrated in Thailand and Vietnam, including photovoltaic main material production capacity such as slicing, solar cells, and components in Thailand, as well as photovoltaic auxiliary material production capacity in Vietnam. Production and delivery are currently normal," Attes stated.
Regarding changes in shareholders, among the top ten shareholders, Sunshine HK SPV Limited, Yangzhou Honglian Ruisi Investment Partnership Enterprise, Xiamen Zhongjin Yingrun Equity Investment Fund Partnership Enterprise, and Zhongjin Attes No. 1 Employee Participation Star Strategic Placement Aggregated Asset Management Plan all reduced their holdings to varying degrees in the third quarter. E Fund SSE STAR 50 ETF became Attes's tenth largest shareholder, holding a 0.61% stake.
On the same day (October 29), Attes announced that the total amount of credit guarantees incurred by the company and its subsidiaries within the consolidated scope from September 30, 2024, to October 29, 2024, amounted to 0.714 billion yuan, accounting for 3.33% of the company's latest audited net assets.
As of the announcement disclosure date, Attes and its subsidiaries had external guarantees for credit business amounting to 40.249 billion yuan, accounting for 187.92% of the company's latest audited net assets. Of this amount, the company provided guarantees for credit business to its subsidiaries within the consolidated scope totaling 40.199 billion yuan.
